Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 24, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'RIVE | ' | ' |
Entity Registrant Name | 'Riverview Financial Corp | ' | ' |
Entity Central Index Key | '0001590799 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 2,703,840 | ' |
Entity Public Float | ' | ' | $17,226,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $16,088 | $8,611 |
Federal funds sold | 2,502 | 1,567 |
Interest-bearing deposits | 5,472 | 5,774 |
Cash and Cash Equivalents | 24,062 | 15,952 |
Interest-bearing time deposits with banks | 1,244 | 250 |
Investment securities available-for-sale | 57,246 | 45,101 |
Mortgage loans held for sale | 245 | 830 |
Loans, net of allowance for loan losses of $3,663 and $3,736 | 319,674 | 234,112 |
Premises and equipment | 8,352 | 7,162 |
Accrued interest receivable | 1,380 | 1,014 |
Restricted investments in bank stocks | 1,030 | 1,429 |
Cash value of life insurance | 8,338 | 6,706 |
Foreclosed assets | 1,127 | 1,909 |
Goodwill | 2,297 | 2,297 |
Intangible assets | 1,670 | 547 |
Other assets | 6,217 | 1,888 |
Total Assets | 432,882 | 319,197 |
Deposits: | ' | ' |
Demand, non-interest bearing | 50,181 | 24,526 |
Demand, interest-bearing | 127,992 | 97,576 |
Savings and money market | 90,919 | 48,342 |
Time | 113,253 | 99,001 |
Total Deposits | 382,345 | 269,445 |
Short-term borrowings | ' | 11,000 |
Long-term borrowings | 10,000 | 9,550 |
Accrued interest payable | 197 | 214 |
Other liabilities | 4,112 | 2,251 |
Total Liabilities | 396,654 | 292,460 |
Shareholders' Equity | ' | ' |
Preferred stock, 2013 no par value; authorized 3,000,000 shares; 2012 none | ' | ' |
Common stock, 2013 no par value; 2012 par value $0.50 per share; authorized 5,000,000 shares; issued 2013 2,703,840 shares; 2012 1,750,003 shares; outstanding 2013 2,703,840 shares; 2012 - 1,716,316 shares | 22,077 | 875 |
Surplus | 124 | 11,350 |
Retained earnings | 14,562 | 14,217 |
Accumulated other comprehensive income (loss) | -535 | 632 |
Treasury stock, at cost 2013 - none; 2012 - 33,687 shares | ' | -337 |
Total Shareholders' Equity | 36,228 | 26,737 |
Total Liabilities and Shareholders' Equity | $432,882 | $319,197 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Loans, allowance for loan losses | $3,663 | $3,736 |
Preferred stock, par value | ' | ' |
Preferred stock, shares authorized | 3,000,000 | ' |
Common stock, par value | ' | $0.50 |
Common stock, shares authorized | 5,000,000 | 5,000,000 |
Common stock, shares issued | 2,703,840 | 1,750,003 |
Common stock, shares outstanding | 2,703,840 | 1,716,316 |
Treasury stock, shares | ' | 33,687 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and Dividend Income | ' | ' |
Loans, including fees | $12,505 | $11,704 |
Investment securities - taxable | 348 | 571 |
Investment securities - tax exempt | 715 | 716 |
Federal funds sold | 10 | ' |
Interest-bearing deposits | 18 | 22 |
Dividends | 12 | 4 |
Total Interest Income | 13,608 | 13,017 |
Interest Expense | ' | ' |
Deposits | 2,156 | 2,818 |
Short-term borrowings | 1 | 16 |
Long-term debt | 299 | 346 |
Total Interest Expense | 2,456 | 3,180 |
Net Interest Income | 11,152 | 9,837 |
Provision for Loan Losses | 640 | 1,140 |
Net Interest Income after Provision for Loan Losses | 10,512 | 8,697 |
Noninterest Income | ' | ' |
Service charges on deposit accounts | 339 | 287 |
Other service charges and fees | 415 | 363 |
Earnings on cash value of life insurance | 222 | 271 |
Fees and commissions from securities brokerage | 573 | ' |
Gain on sale of available-for-sale securities | 117 | 770 |
Loss on sale and valuation of other real estate owned | -580 | -118 |
Loss on sale of other assets | -177 | -22 |
Valuation adjustment on real estate investment | -96 | ' |
Gain on sale of mortgage loans | 529 | 799 |
Bargain purchase gain from consolidation | 629 | ' |
Total Noninterest Income | 1,971 | 2,350 |
Noninterest Expenses | ' | ' |
Salaries and employee benefits | 6,123 | 4,870 |
Occupancy expenses | 1,001 | 926 |
Equipment expenses | 541 | 511 |
Telecommunication and processing charges | 793 | 655 |
Postage and office supplies | 270 | 245 |
FDIC premium | 251 | 256 |
Bank shares tax expense | 286 | 255 |
Directors' compensation | 309 | 287 |
Professional services | 457 | 262 |
Other expenses | 1,239 | 799 |
Total Noninterest Expenses | 11,270 | 9,066 |
Income before Income Taxes | 1,213 | 1,981 |
Applicable Federal Income Taxes (benefit)/expense | -250 | 318 |
Net Income | $1,463 | $1,663 |
Basic Earnings Per Share | $0.78 | $0.97 |
Diluted Earnings Per Share | $0.78 | $0.97 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net income | $1,463 | $1,663 |
Unrealized gains and losses on securities available for sale: | ' | ' |
Net unrealized gains (losses) arising during the period, net of tax of $645 and $454 | -1,253 | -882 |
Reclassification adjustment for gains (losses) included in net income, net of tax of $40 and $262 | 77 | 508 |
Net change in unrealized gains (losses) | -1,176 | -374 |
Defined benefit pension plan: | ' | ' |
Net gain (loss), net of tax of $5 | 9 | ' |
Total other comprehensive income (loss), net of tax of $601 and $193 | -1,167 | -374 |
Total comprehensive income | $296 | $1,289 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net unrealized gains (losses) arising during the period, tax | $645 | $454 |
Reclassification adjustment for gains (losses) included in net income, tax | 40 | 262 |
Net gain (loss), tax | 5 | ' |
Total other comprehensive income (loss), tax | $601 | $193 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | ||||||
Balance at Dec. 31, 2011 | $26,406 | $875 | $11,307 | $13,490 | $1,006 | ($272) |
Net income | 1,663 | ' | ' | 1,663 | ' | ' |
Total other comprehensive income (loss), net of tax | -374 | ' | ' | ' | -374 | ' |
Compensation cost of option grants | 43 | ' | 43 | ' | ' | ' |
Cash dividends | -936 | ' | ' | -936 | ' | ' |
Repurchase common stock | -65 | ' | ' | ' | ' | -65 |
Balance at Dec. 31, 2012 | 26,737 | 875 | 11,350 | 14,217 | 632 | -337 |
Net income | 1,463 | ' | ' | 1,463 | ' | ' |
Total other comprehensive income (loss), net of tax | -1,167 | ' | ' | ' | -1,167 | ' |
Compensation cost of option grants | 160 | ' | 160 | ' | ' | ' |
Issuance of common stock in exchange for Riverview Financial Corporation and Union Bancorp, Inc. common stock | 10,153 | 21,202 | -11,386 | ' | ' | 337 |
Cash dividends | -1,118 | ' | ' | -1,118 | ' | ' |
Balance at Dec. 31, 2013 | $36,228 | $22,077 | $124 | $14,562 | ($535) | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Statement Of Stockholders Equity [Abstract] | ' | ' |
Cash dividends, per share | $0.55 | $0.55 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net income | $1,463 | $1,663 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Gain from business combination | -629 | ' |
Depreciation | 603 | 601 |
Provision for Loan Losses | 640 | 1,140 |
Stock option compensation expense | 160 | 43 |
Net amortization of premiums on securities available-for-sale | 294 | 389 |
Net realized loss on sale of foreclosed real estate and other assets | 853 | 140 |
Net realized gain on sale of securities available-for-sale | -117 | -770 |
Amortization of purchase adjustment on loans | -24 | ' |
Amortization of intangible assets | 141 | 27 |
Deferred income taxes | -1,270 | -105 |
Proceeds from sale of mortgage loans | 33,952 | 46,259 |
Net gain on sale of mortgage loans | -529 | -799 |
Mortgage loans originated for sale | -32,838 | -45,906 |
Earnings on cash value of life insurance | -222 | -246 |
(Increase) decrease in accrued interest receivable and other assets | 153 | -259 |
Increase in accrued interest payable and other liabilities | -126 | 765 |
Net Cash Provided by Operating Activities | 2,504 | 2,942 |
Cash Flows from Investing Activities | ' | ' |
Net maturities of interest-bearing time deposits | -994 | ' |
Securities available-for-sale: | ' | ' |
Proceeds from maturities, calls and principal repayments | 7,919 | 7,385 |
Proceeds from sales | 7,177 | 19,106 |
Purchases | ' | -29,214 |
Net decrease in restricted investments in bank stock | 604 | 168 |
Net increase in loans | -11,129 | -40,782 |
Net cash acquired in business combination | 15,580 | ' |
Purchases of premises and equipment | -310 | -411 |
Proceeds from sale of foreclosed assets | 504 | 805 |
Capitalized business combination transaction costs | ' | -501 |
Acquisition of customer list intangible assets | ' | -463 |
Purchase of life insurance | ' | -775 |
Proceeds from life insurance | ' | 206 |
Net Cash Provided by (Used in) Investing Activities | 19,351 | -44,476 |
Cash Flows from Financing Activities | ' | ' |
Net increase (decrease) in deposits | -2,077 | 23,103 |
Net decrease in securities sold under agreements to repurchase | ' | -893 |
Increase (decrease) in short-term borrowings | -11,000 | 11,000 |
Proceeds from long-term borrowings | 3,000 | 500 |
Repayment of long-term borrowings | -2,550 | -3,128 |
Purchase of treasury stock | ' | -65 |
Dividends paid | -1,118 | -936 |
Net Cash Provided by (Used in) Financing Activities | -13,745 | 29,581 |
Net Increase (Decrease) in Cash and Cash Equivalents | 8,110 | -11,953 |
Cash and Cash Equivalents - Beginning | 15,952 | 27,905 |
Cash and Cash Equivalents - Ending | 24,062 | 15,952 |
Cash payments for: | ' | ' |
Interest paid | 2,473 | 3,221 |
Income taxes paid | 590 | 437 |
Supplemental Schedule of Noncash Investing and Financing Activities | ' | ' |
Transfer of loans to foreclosed assets | $302 | $1,556 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
Note 1 – Summary of Significant Accounting Policies | |||||||||||||
Nature of Operations | |||||||||||||
On November 1, 2013, Riverview Financial Corporation (“Riverview”) and Union Bancorp, Inc. (“Union”) consolidated to form a new Pennsylvania corporation under the name of Riverview Financial Corporation (the “Company”). The Company and its wholly-owned bank subsidiary, Riverview Bank (the “Bank”), provide loan, deposit and a full range of banking services to individuals, businesses and municipalities through two full service offices in Marysville and Duncannon, Perry County, Pennsylvania, one full service office in Enola, Cumberland County, Pennsylvania, six full service offices in Tower City, Cressona, Pottsville and Orwigsburg, Schuylkill County, Pennsylvania, three full service and one drive-up office in Halifax, Millersburg and Elizabethville, Dauphin County, Pennsylvania and one commercial office in Wyomissing, Berks County, Pennsylvania. Effective December 27, 2012, Riverview Bank purchased a wealth management company located in Orwigsburg, Schuylkill County, Pennsylvania that provides financial advisory, insurance, trust and investment services relating to non-deposit type investment products. The wealth management company is a division of the Bank. Riverview Bank competes with several other financial institutions within its geographic footprint to provide its services to individuals, businesses, municipalities and other organizations. | |||||||||||||
The Bank is a Pennsylvania chartered state bank. The Company and the Bank are subject to regulations of certain state and federal agencies. These regulatory agencies periodically examine the Company and the Bank for adherence to laws and regulations. | |||||||||||||
The accounting and reporting policies followed by the Company conform to generally accepted accounting principles and to general practices within the banking industry. The following paragraphs briefly describe the more significant accounting policies. | |||||||||||||
Principles of Consolidation and Basis of Accounting | |||||||||||||
The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the Bank and its operating divisions, Marysville Bank, Halifax Bank and Riverview Financial Wealth Management. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company uses the accrual basis of accounting. | |||||||||||||
Use of Estimates | |||||||||||||
These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and predominant practices within the banking industry. The preparation of these consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The Company evaluates estimates on an ongoing basis. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the potential impairment of goodwill, the valuation of deferred tax assets, the determination of other-than-temporary impairment on securities and the valuation of real estate acquired by foreclosure or in satisfaction of loans. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans and foreclosed real estate, management obtains independent appraisals for significant collateral. | |||||||||||||
While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
For purposes of the statements of cash flows, cash and cash equivalents consist of cash and due from banks, federal funds sold and interest-bearing deposits in the Federal Reserve Bank and other banks. Generally, federal funds are purchased and sold for one day periods. | |||||||||||||
Investment Securities | |||||||||||||
Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates the classifications as of each balance sheet date. At December 31, 2013 and 2012, all of the Company’s investment securities were classified as available-for-sale. | |||||||||||||
Investment securities available-for-sale are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including movements in interest rates, changes in the maturity mix of the Company’s assets and liabilities, liquidity needs, credit risk, regulatory considerations and other similar factors. Investment securities available-for-sale are reported at estimated fair value. Unrealized gains and losses are excluded from earnings but are reported as a separate component of stockholders’ equity, net of deferred taxes. Any realized gains or losses, based on the amortized cost of specific securities sold, are included in current operations. | |||||||||||||
The estimated fair values of the Company’s securities are affected by changes in interest rates and credit spreads. Riverview conducts a periodic review and evaluation of the securities portfolio to determine if any declines in fair values of securities are other-than-temporary. To determine if a decline in value is other-than-temporary, the Company evaluates if it has the intent to sell these securities or if it is more likely than not that it would be required to sell the securities before the anticipated recovery. If such a decline were deemed to be other-than-temporary, the Company would measure the total credit-related component of the unrealized loss, and recognize that portion of the loss as a charge to current period earnings. The remaining portion of the unrealized loss would be recognized as an adjustment to accumulated other comprehensive income. In general, as interest rates rise, the market value of the fixed-rate securities decreases and as interest rates fall, the market value of fixed-rate securities increases. To determine if a decline in value is other-than-temporary, the Company evaluates if it has the intent to sell these securities or if it is more likely than not that it would be required to sell the securities before the anticipated recovery. | |||||||||||||
Management utilizes criteria such as the magnitude and duration of the decline, in addition to the reasons underlying the decline, to determine whether the loss in value is other-than-temporary. The term “other-than-temporary” is not intended to indicate that the decline in value is permanent, but indicates that the prospects for a near-term recovery of value are not necessarily favorable, or that there is a lack of evidence to support realizable value equal to or greater than the carrying value of the investment. | |||||||||||||
Premiums and discounts on securities are amortized and accreted to income using a method that approximates the interest method over the remaining period of contractual maturity, adjusted for anticipated prepayments. Dividend and interest income are recognized when earned. | |||||||||||||
Mortgage Loans Held for Sale | |||||||||||||
Mortgage loans originated and held for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. The Bank entered into an agreement with the Federal Home Loan Mortgage Corporation (“Freddie Mac”) in 2009 to sell loans servicing released. This was in addition to the agreement that the Bank entered into in 2008 to sell loans servicing released under the Federal Home Loan Bank of Pittsburgh’s (“FHLB”) Mortgage Partnership Finance program (“MPF”). Premiums and discounts and origination fees and costs on loans held for sale are deferred and recognized as a component of the gain or loss on sale. Residential loan sales under the Freddie Mac and MPF programs have been made without recourse. Both programs require details of the residential loan in advance of the sale and both have the ability to perform post-closing quality control reviews. If the results of these reviews discover any documentation errors, Freddie Mac and MPF can require the Bank to repurchase the loan. | |||||||||||||
Loans | |||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the principal amount outstanding, net of unearned income, deferred loan fees, and the allowance for loan losses. Interest is accrued on the principal balances outstanding and is credited to income as earned. Loan fees collected net of the costs of originating the loans are deferred and recognized as an adjustment to the yield over the contractual life of the related loan. | |||||||||||||
The accrual of interest on loans in all loan segments (nonaccrual loans) is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is well secured and in the process of collection. When a loan is placed on nonaccrual status, all unpaid interest credited to income in the current calendar year is reversed and all unpaid interest accrued in prior calendar years is charged against the allowance for loan losses. Interest payments received on nonaccrual loans are either applied against principal or reported as interest income according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time and the ultimate collectability of the total contractual principal and interest is no longer in doubt. | |||||||||||||
An impaired loan is defined as a loan for which it is probable, based on current information, that the lender will not collect all amounts due under the contractual terms of the loan agreement. Impaired loans are individually assessed to determine that each loan’s carrying value is not in excess of the fair value of the related collateral or the present value of the expected future cash flows. | |||||||||||||
Allowance for Loan Losses | |||||||||||||
The Bank maintains an allowance for loan losses, which is intended to absorb probable known and inherent losses in the outstanding loan portfolio. The allowance for loan losses is reduced by actual credit losses and is increased by the provision for loan losses and recoveries of previous losses. The provisions for loan losses are charged to earnings to bring the total allowance for loan losses to a level considered necessary and adequate by management. | |||||||||||||
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loan portfolio in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |||||||||||||
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as substandard or doubtful and deemed to be impaired. For such loans, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. Management determines the unallocated portion, which represents the difference between the reported allowance for loan losses and the calculated allowance for loan losses, based generally on the following criteria: | |||||||||||||
• | risk of imprecision in the specific and general reserve allocations; | ||||||||||||
• | other potential exposure in the loan portfolio, including covering the risks in the growing book of loans in the Schuylkill and Berks County regions; | ||||||||||||
• | variances in management’s assessment of national and local economic conditions; and | ||||||||||||
• | other internal or external factors that management believes are appropriate at the time. | ||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |||||||||||||
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bank does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are the subject of a restructuring agreement. | |||||||||||||
In determining the allowance for loan losses, the Bank identifies separate pools with higher loss factors to segregate unimpaired criticized and classified loans from all other unimpaired loans. This more clearly details the risk inherent in the portfolio by refining the pools of assets with similar characteristics. | |||||||||||||
Premises and Equipment | |||||||||||||
Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are calculated principally using the straight-line method for financial reporting and the straight-line and accelerated methods for income tax purposes. When property is retired or disposed, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in operations. Major additions or replacements are capitalized, while repairs and maintenance are charged to expense as incurred. Interest costs incurred during construction of bank premises are capitalized unless they are determined to be insignificant. | |||||||||||||
Accrued Interest | |||||||||||||
Accrued interest is interest that has accumulated over a period of time and has been recognized even though the obligation to receive or pay has not occurred. Accrued interest can either be income, such as the receipt of interest from loans or securities, or it can be an expense, such as the payment of interest on deposits and borrowings. | |||||||||||||
Restricted Investments in Bank Stocks | |||||||||||||
Restricted bank stock represents required investments in the common stock of correspondent banks consisting of the Federal Home Loan Bank of Pittsburgh (FHLB) and Atlantic Central Bankers Bank at December 31, 2013 and 2012. Since these stocks are not actively traded and therefore have no readily determinable market value, they are carried at cost. | |||||||||||||
Management evaluates restricted stock for impairment in accordance with the accounting standard relating to Accounting by Certain Entities (Including Entities With Trade Receivables) That Lend to or Finance the Activities of Others. Management’s determination of whether these investments are impaired is based on its assessment of the ultimate recoverability of the cost rather than by recognizing temporary declines in value. | |||||||||||||
Management believes no impairment charge is necessary related to the restricted stock as of December 31, 2013. | |||||||||||||
Transfers of Financial Assets | |||||||||||||
Transfers of financial assets, including loans and loan participation sales, are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |||||||||||||
Cash Value of Life Insurance | |||||||||||||
The Bank invests in bank owned life insurance (“BOLI”) as a source of funding employee benefit expenses. BOLI involves the purchase of life insurance by the Bank on a chosen group of directors and select management of the Bank. The Bank is the owner and beneficiary of the policies. The life insurance investment is carried at the cash surrender value of the underlying policies. These amounts are immediately available to the Bank upon surrender of the policies. Income generated from the increase in the cash surrender value of the policies is included in other income on the income statement. | |||||||||||||
Foreclosed Assets | |||||||||||||
Real estate and other foreclosed assets acquired in settlement of loans are recorded at fair value less costs to sell at the date of acquisition, establishing a new cost basis. Subsequent to acquisition, foreclosed assets are carried at the lower of cost or estimated fair value of the property less selling costs. Any write-down, at or prior to the dates the assets are foreclosed, is charged to the allowance for loan losses. Subsequent write-downs and any gains or losses resulting from the sale of foreclosed assets are recorded in other income. Expenses incurred in connection with holding such assets are reported in other expenses. | |||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the tangible and identifiable intangible assets acquired. Under generally accepted accounting principles, business acquisition goodwill is not amortized into the income statement over an estimated life, but rather is tested at least annually for impairment. Based upon the goodwill analysis performed by an independent third party, there was no goodwill impairment for the 2013 year end. | |||||||||||||
Intangible Assets | |||||||||||||
Intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. The Bank’s intangible assets consist of core deposit intangibles, which have a finite life and are amortized over their estimated useful life. Mortgage servicing rights are included in intangible assets where the Bank recognized a servicing fee at the time of the sale for the right to service mortgages and other loans sold. The servicing asset is amortized as an expense over the life of the loan for which the Bank retains the servicing rights. A customer list intangible is also included in intangible assets as a result of the purchase of the wealth management company. This intangible is amortized as an expense over ten years using the sum of the years’ amortization method. Intangible assets are also subject to impairment testing when an indication of impairment exists. | |||||||||||||
Federal Income Taxes | |||||||||||||
The provision for income taxes is based on income as reported in the financial statements. Certain items of income and expense are recognized in different periods for financial reporting purposes than for federal income tax purposes. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between book and tax basis of the various balance sheet assets and liabilities given current recognition to changes in tax rates and laws. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for applicable income taxes. | |||||||||||||
Treasury Stock | |||||||||||||
Repurchases of common stock are recorded as treasury stock at cost. | |||||||||||||
Advertising | |||||||||||||
Advertising costs are expensed as incurred and totaled $72,000 and $92,000 for the years ending December 31, 2013 and 2012, respectively. | |||||||||||||
Earnings Per Common Share | |||||||||||||
Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. For diluted earnings per share, net income is divided by the weighted average number of shares outstanding plus the incremental number of shares added as a result of converting common stock equivalents. The Company’s common stock equivalents consist of outstanding common stock options, which amounted to 179,250 options as of the 2013 and 2012 year ends. At December 31, 2013, there was no intrinsic value associated with any of the options that were outstanding. There was intrinsic value associated with 15,000 stock options out of the 179,250 total outstanding stock options at December 31, 2012 because the exercise price for these particular options was lower than the trading price of the stock. | |||||||||||||
The following table presents the amounts used in computing earnings per share for the years ended December 31, 2013 and 2012. | |||||||||||||
Income | Common Shares | EPS | |||||||||||
Numerator | Denominator | ||||||||||||
(In thousands, except share data) | |||||||||||||
2013:00:00 | |||||||||||||
Basic EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
Dilutive effect of potential common stock options | — | — | — | ||||||||||
Diluted EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
2012:00:00 | |||||||||||||
Basic EPS | $ | 1,663 | 1,719,498 | $ | 0.97 | ||||||||
Dilutive effect of potential common stock options | — | 3,616 | — | ||||||||||
Diluted EPS | $ | 1,663 | 1,723,114 | $ | 0.97 | ||||||||
Off Balance Sheet Financial Instruments | |||||||||||||
In the ordinary course of business, the Company has entered into off balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. | |||||||||||||
Segment Reporting | |||||||||||||
The Company operates in a single business segment consisting of traditional banking activities. | |||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income is divided into net income and other comprehensive income. The components of the Company’s other comprehensive income are unrealized gains and losses on securities available for sale and losses associated with the defined benefit postretirement plan. Comprehensive income is presented in the Statements of Comprehensive Income. | |||||||||||||
The components of other comprehensive income and the related tax effects are presented in the following table at December 31: | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Unrealized gains (losses) on securities available for sale (net of tax of $280 and $326) | ($ | 544 | ) | $ | 632 | ||||||||
Unrealized pension cost (net of related taxes of $5 and $0) | 9 | — | |||||||||||
Total accumulated other comprehensive income | ($ | 535 | ) | $ | 632 | ||||||||
Reclassifications | |||||||||||||
For purposes of comparability, certain prior period amounts may have been reclassified to conform with the 2013 presentation. Such reclassifications had no impact on net income. | |||||||||||||
New Accounting Standards | |||||||||||||
The Financial Accounting Standards Board (“FASB”) in January 2013 issued Accounting Standards Update (“ASU”) No. 2013-01, “Disclosures About Offsetting Assets and Liabilities”, which clarifies the scope of the new offsetting disclosure requirements under ASU No. 2013-01. It is limited to (1) derivatives, (2) repurchase and reverse repurchase agreements, and (3) securities borrowing and lending transactions, that are either: offset in the statement of financial position in accordance with ASC 10, “Balance Sheet Presentment”, or ASC 815, “Derivatives and Hedging”, or subject to an enforceable master netting arrangement or similar agreement regardless of whether they are presented net in the financial statements. This ASU is effective for annual and interim reporting periods beginning on or after January 1, 2013. This guidance did not have a significant impact on the Company’s consolidated financial statements. | |||||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income”, which requires disclosure of the effects of reclassifications out of accumulated other comprehensive income (“AOCI”) or net income line items only for those items that are reported in their entirety in net income in the period of reclassification. For AOCI reclassification items that are not reclassified in their entirety into net income, entities would then cross reference to the related note to the financial statements for additional information. The Company adopted the provisions of ASU No. 2013-2 effective January 1, 2013. Since the Company’s only AOCI items consist of unrealized gains or losses on securities available for sale and changes in the defined pension benefit plan, the adoption of this standard had minimal impact on the Company’s consolidated financial statements. | |||||||||||||
In January 2014, FASB issued ASU 2014-01, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects”. ASU 2014-01 permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in ASU 2014-01 should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those pre-existing investments. ASU 2014-01 is effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||
Issued in January 2014, ASU 2014-04, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)” clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loans, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or 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. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014, and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The adoption of ASU 2014-04 will be a change in presentation only for the newly required disclosures and is not expected to have a significant impact to the Company’s consolidated financial statements. |
Business_Combination
Business Combination | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination | ' | ||||||||
Note 2 – Business Combination | |||||||||
On November 1, 2013, the Company completed its consolidation of Riverview and Union pursuant to the Amended and Restated Agreement and Plan of Consolidation (“the “Agreement”), dated April 24, 2013. On that same date, Union Bank and Trust Company, the wholly owned subsidiary of Union, merged with and into Riverview Bank, which is the wholly owned subsidiary of the Company. The primary reason for the combination was to pool resources to provide greater products and services to customers in the contiguous counties, and provide cost savings. | |||||||||
In accordance with the Agreement, the Company authorized 3,000,000 shares of preferred stock with no par value and 5,000,000 shares of common stock with no par value. The Company issued 987,524 shares of common stock with no par value, which increased the number of outstanding common shares to 2,703,840 shares. The shareholders of Riverview received 1.00 share of the Company’s common stock for each share of Riverview common stock they owned on the effective date of the consolidation. Union shareholders received 1.95 shares of the Company’s common stock for each share of Union common stock they owned on the effective date of the consolidation. The shareholders of Riverview and Union did not recognize gain or loss for federal income tax purposes on the shares that were exchanged for the Company’s common stock in the consolidation. | |||||||||
The following table summarizes the fair values of the assets acquired and the liabilities assumed as of the effective date of the consolidation. This transaction was accounted for using the purchase method of accounting in accordance with ASC 805, Business Combinations. Accordingly the purchase price was allocated to the respective assets acquired and liabilities assumed based upon their estimated fair values as of the effective date of the consolidation. | |||||||||
Acquired on | |||||||||
November 1, 2013 | |||||||||
(In thousands) | |||||||||
Assets: | |||||||||
Cash and cash equivalents | $ | 15,580 | |||||||
Investment securities | 29,211 | ||||||||
Net loans | 75,351 | ||||||||
Bank premises and equipment | 1,660 | ||||||||
Other assets | 5,941 | ||||||||
Total assets | $ | 127,743 | |||||||
Liabilities: | |||||||||
Noninterest-bearing deposits | $ | 26,687 | |||||||
Interest-bearing deposits | 88,290 | ||||||||
Other liabilities | 1,984 | ||||||||
Total liabilities | 116,961 | ||||||||
Net assets acquired | $ | 10,782 | |||||||
The excess of purchase price over the fair value of net assets acquired is generally recorded as goodwill. However, since the financial assets were acquired for less than their fair market value, a bargain purchase price gain of $629,000 was recorded. Current accounting rules for business combinations require the acquirer to record the difference between fair value of the acquired net assets and the purchase price as a gain in its income statement, thereby providing an increase to the Company’s equity. | |||||||||
The following table provides the calculation of the goodwill (dollars in thousands, except per share data): | |||||||||
Purchase Price: | |||||||||
Union common shares outstanding | 506,513 | ||||||||
Exchange ratio | 1.95 | ||||||||
Riverview common stock issued | 987,524 | ||||||||
Fair market value of Riverview common share | $ | 10.28 | |||||||
Purchase price assigned to shares exchanged for stock | $ | 10, 152 | |||||||
Union fractional shares exchanged for cash | 176 | ||||||||
Purchase price paid to each Union common share exchanged for cash | $ | 10.75 | |||||||
Purchase price assigned to each Union common share exchanged for cash | 1 | ||||||||
Total Purchase Price | 10,153 | ||||||||
Net Assets Acquired: | |||||||||
Union common shareholders’ equity | 9,610 | ||||||||
Increase (decrease) to reflect assets acquired at fair value: | |||||||||
Loans: | |||||||||
Interest rate fair value | 268 | ||||||||
General credit fair value mark | (795 | ) | |||||||
Specific credit fair value mark | (1,705 | ) | |||||||
Allowance for loan losses | 1,427 | ||||||||
Core deposit intangible | 1,264 | ||||||||
Premises and equipment | 519 | ||||||||
Reversal of old purchase account marks and deferred fees/costs | (142 | ) | |||||||
Miscellaneous assets and liabilities | (780 | ) | |||||||
Deferred tax asset | 1,495 | ||||||||
Decrease to reflect liabilities acquired at fair value: | |||||||||
Time deposits | (379 | ) | |||||||
Net assets acquired | 10,782 | ||||||||
Bargain purchase price gain resulting from consolidation | $ | 629 | |||||||
The fair value of certain assets and certain liabilities were based on quoted prices from reliable market sources. When quoted market prices were not available, the estimated fair values were based upon the best information available, including obtaining prices for similar assets and liabilities, and the results of using other valuation techniques. The prominent other valuation techniques used were the present value technique and appraisal/third party valuations. When the present value technique was employed, the associated cash flow estimates incorporated assumptions that marketplace participants would use in estimating fair values. In instances where reliable market information was not available, the Company assumed the historical book value of certain assets and liabilities represented a reasonable proxy of fair value. The Company determined that there were no other categories of identifiable intangible assets arising from the Union consolidation other than the core deposit intangible. | |||||||||
The following presents the unaudited pro forma consolidated results of operations of the Company for the years ended December 31, 2013 and December 31, 2012 as though Union had been consolidated on January 1st. The information is for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies if they actually had completed the consolidation at the beginning of the periods presented, nor does it indicate future results for any other interim or full year period. The proforma earnings per share were calculated using the Company’s actual weighted average shares outstanding for the periods presented. | |||||||||
2013 | 2012 | ||||||||
(In thousands, except per share data) | |||||||||
Total revenues, net of interest expense | $ | 14,731 | $ | 13,920 | |||||
Net income | 1,910 | 1,636 | |||||||
Basic and dilutive earnings per share | $ | 1.02 | $ | 0.61 | |||||
The pro forma net income amount for the year-ended 2013, includes a bargain purchase gain of $629,000 and pre-tax expenses of $1,611,000 both associated with the consolidation. Net income of Union subsequent to the consolidation that is included in the consolidated net income for the year ended December 31, 2013 is $448,000. |
Restriction_on_Cash_and_Due_fr
Restriction on Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2013 | |
Receivables [Abstract] | ' |
Restriction on Cash and Due from Banks | ' |
Note 3 – Restriction on Cash and Due from Banks | |
The Bank is required to maintain average reserve balances in cash or on deposit with the Federal Reserve Bank. The required reserve at December 31, 2013 and 2012 approximated $5,943,000 and $6,610,000, respectively. In addition, the Bank’s other correspondents may require average compensating balances as part of their agreements to provide services. The Bank maintains balances with its correspondent banks that may exceed federal insured limits, which management considers to be a normal business risk. |
Investment_Securities_Availabl
Investment Securities Available-for-Sale | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities Available-for-Sale | ' | ||||||||||||||||||||||||
Note 4 – Investment Securities Available-for-Sale | |||||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities available-for-sale are reflected in the following schedules at December 31, 2013 and 2012: | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agency securities | $ | 1,405 | $ | — | $ | 49 | $ | 1,356 | |||||||||||||||||
State and municipal | 37,686 | 176 | 819 | 37,043 | |||||||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||||||
Mortgage-backed securities | 13,226 | 43 | 128 | 13,141 | |||||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 3,387 | 8 | 65 | 3.33 | |||||||||||||||||||||
Corporate debt obligations | 1,852 | 1 | 2 | 1,851 | |||||||||||||||||||||
Equity securities, financial services | 512 | 15 | 2 | 525 | |||||||||||||||||||||
$ | 58,068 | $ | 243 | $ | 1,065 | $ | 57,246 | ||||||||||||||||||
2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agencies | $ | 3,500 | $ | 6 | $ | — | $ | 3,506 | |||||||||||||||||
State and municipal | 22,252 | 665 | 64 | 22,853 | |||||||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||||||
Mortgage-backed securities | 12,837 | 169 | — | 13,006 | |||||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 5,555 | 181 | — | 5,736 | |||||||||||||||||||||
$ | 44,144 | $ | 1,021 | $ | 64 | $ | 45,101 | ||||||||||||||||||
The amortized cost and fair value of debt securities available-for-sale at December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to prepay obligations with or without call or prepayment penalties: | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | |||||||||||||||||||||
Due after one year through five years | 6,863 | 6,859 | |||||||||||||||||||||||
Due after five years through ten years | 12,095 | 12,105 | |||||||||||||||||||||||
Due after ten years | 21,985 | 21,286 | |||||||||||||||||||||||
40,943 | 40,250 | ||||||||||||||||||||||||
Mortgage-backed securities | 13,226 | 13,141 | |||||||||||||||||||||||
CMOs | 3,387 | 3,330 | |||||||||||||||||||||||
Equity securities, financial services | 512 | 525 | |||||||||||||||||||||||
17,125 | 16,996 | ||||||||||||||||||||||||
$ | 58,068 | $ | 57,246 | ||||||||||||||||||||||
Securities with an amortized cost of $53,401,000 and $30,949,000 and a fair value of $52,598,000 and $31,797,000 at December 31, 2013 and 2012, respectively, were pledged as collateral for public deposits and for other purposes as required or permitted by law. | |||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses at December 31, 2013 and 2012 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: | |||||||||||||||||||||||||
Less Than 12 Months | More Than 12 Months | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Government agency securities | $ | 1,241 | $ | 49 | $ | — | $ | — | $ | 1,241 | $ | 49 | |||||||||||||
State and municipal | 22,098 | 729 | 1,862 | 90 | 23,960 | 819 | |||||||||||||||||||
Mortgage-backed securities | 7,441 | 128 | — | — | 7,441 | 128 | |||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 2,618 | 65 | — | — | 2,618 | 65 | |||||||||||||||||||
Corporate debt obligations | 1,362 | 2 | — | — | 1,362 | 2 | |||||||||||||||||||
Equity securities, financial services | 39 | 2 | — | — | 39 | 2 | |||||||||||||||||||
$ | 34,799 | $ | 975 | $ | 1,862 | $ | 90 | $ | 36,661 | $ | 1,065 | ||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
State and municipal | $ | 5,053 | $ | 64 | $ | — | $ | — | $ | 5,053 | $ | 64 | |||||||||||||
$ | 5,053 | $ | 64 | $ | — | $ | — | $ | 5,053 | $ | 64 | ||||||||||||||
Management evaluates securities for other-than-temporary impairment, at least on a quarterly basis. It is management’s intent to hold all investments until maturity unless market, economic, credit quality or specific investment concerns warrant a sale of securities. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the credit quality or financial condition and near-term prospects of the issuer, and (3) the intent and ability of the corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||||||||||||||
At December 31, 2013, eighty securities had unrealized losses as compared with twelve state and municipal securities at December 31, 2012. Management believes the unrealized losses relate to changes in interest rates since the individual securities were purchased as opposed to underlying credit issues. As management does not intend to sell any debt securities, and it is more likely than not that management will not be required to sell any debt securities before the cost bases are recovered, no declines are deemed to be other-than-temporary. | |||||||||||||||||||||||||
As part of its strategy to manage interest rate risk and prepayment risk inherent within the investment portfolio, the Bank sold four available-for-sale U. S. treasury securities and four available-for-sale collateralized mortgage obligation securities during 2013 totaling $7,177,000 as compared with 2012 when it sold ten available-for-sale mortgage-backed securities and two available-for-sale state and municipal securities totaling $19,106,000. Gross realized gains for 2013 amounted to $118,000 and gross realized losses were $1,000, resulting in a $117,000 net gain from the sale. This compares with 2012 where gross realized gains amounted to $770,000 and gross realized losses were zero, resulting in a $770,000 net gain from the sale. The Bank reinvested the proceeds from the sale by purchasing fixed rate mortgage-backed securities, callable agencies and state and municipal securities which not only provide interest income but also allowed the Bank to better manage the cash flow generated from the portfolio. |
Loans_Receivable_Credit_Qualit
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||||||||||
Note 5 – Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||||||
The Bank takes a balanced approach to its lending activities and manages risk associated with its loan portfolio by maintaining diversification within the portfolio, consistently applying prudent underwriting standards, ongoing monitoring efforts with attention to portfolio dynamics and mix, and procedures that are consistently applied and updated on an annual basis. The Bank contracts an independent third party each year to conduct a credit review of the loan portfolio to provide an independent assessment of asset quality through an evaluation of the established underwriting criteria used in originating credits. Separately, every loan booked and loan turndown undergoes an audit review for conformity with established policies and compliance with current regulatory lending laws. The Bank has not lessened its loan underwriting criteria, and management believes its standards continue to remain conservative. All of the Bank’s loans are to domestic borrowers. | |||||||||||||||||||||||||||||||||||||||||
The Bank’s management monitors the loan portfolio on a regular basis with consideration given to detailed analysis of loans by portfolio segment. Portfolio segments represent pools of loans with similar risk characteristics. There are eight portfolio segments – commercial loans; non-owner occupied commercial real estate loans; owner occupied commercial real estate loans; one-to-four family investment property loans; commercial land/land development/construction loans; residential real estate loans; home equity lines of credit; and consumer loans. For the purpose of estimating the allowance for loan losses, each of the segments for commercial loans, non-owner occupied commercial real estate loans, owner occupied commercial real estate loans, one-to-four family investment property loans, and commercial land/land development/construction loans have sub-segments for loan participations bought and loans generated by the branches and commercial offices in Schuylkill and Berks counties, which are newer marketed areas adjacent to the Bank’s original geographic footprint. | |||||||||||||||||||||||||||||||||||||||||
The loans in these sub-segments have risk characteristics that differ from the general segments and merit separate analysis in order to afford additional granularity and accuracy in management’s estimate for the allowance for loan losses. Internal policy requires that the Chief Credit Officer report to the Board of Directors on a quarterly basis to discuss the status of the loan portfolio and any related credit quality issues. These reports include but are not limited to information on past due and nonaccrual loans, impaired loans, the allowance for loan losses, changes in the allowance for loan losses, credit quality indicators and foreclosed assets. | |||||||||||||||||||||||||||||||||||||||||
The Bank, in the ordinary course of business, has loan, deposit and other routine transactions with its executive officers, directors and entities in which they have principal ownership. Loans are made to such related parties at substantially the same terms as other borrowers and do not represent more than the usual risk of collection or present other unfavorable features. | |||||||||||||||||||||||||||||||||||||||||
Activity for these related party loans was as follows for the year ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Balance – January 1 | $ | 4,659 | |||||||||||||||||||||||||||||||||||||||
Advances | 1,504 | ||||||||||||||||||||||||||||||||||||||||
Loans of new directors | 1,000 | ||||||||||||||||||||||||||||||||||||||||
Payments | (1,965 | ) | |||||||||||||||||||||||||||||||||||||||
Balance – December 31 | $ | 5,198 | |||||||||||||||||||||||||||||||||||||||
Past Due Loans and Nonaccrual Loans | |||||||||||||||||||||||||||||||||||||||||
Loans are considered to be past due when they are not paid in accordance with contractual terms. Past due loans are monitored by portfolio segment and by severity of delinquency – 30-59 days past due; 60-89 days past due; and 90 days and greater past due. The accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it can be documented that it is well secured and in the process of collection. When a loan is placed on nonaccrual status, all unpaid interest credited to income in the current calendar year is reversed and all unpaid interest accrued in prior calendar years is charged against the allowance for loan losses. Interest payments received on nonaccrual loans are either applied against principal or reported as interest income according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with contractual terms for a reasonable period of time and the ultimate collectability of the total contractual principal and interest is no longer in doubt. | |||||||||||||||||||||||||||||||||||||||||
The following table presents an aging of loans receivable by loan portfolio segments as of December 31, 2013 and December 31, 2012, and includes nonaccrual loans and loans past due 90 days or more and still accruing: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days | 60-89 Days | 90 Days and | Total | Current | Total | Recorded | ||||||||||||||||||||||||||||||||||
Past Due | Past Due | Greater | Past Due | Investment | |||||||||||||||||||||||||||||||||||||
Greater Than | |||||||||||||||||||||||||||||||||||||||||
90 Days & | |||||||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 218 | $ | 17 | $ | 449 | $ | 684 | $ | 36,569 | $ | 37,253 | $ | 298 | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 62 | 0 | 3,990 | 4,052 | 73,765 | 77,817 | 0 | ||||||||||||||||||||||||||||||||||
Owner occupied | 996 | 15 | 540 | 1,551 | 66,849 | 68,400 | 156 | ||||||||||||||||||||||||||||||||||
1-4 family investment | 139 | 92 | 458 | 689 | 25,512 | 26,201 | 458 | ||||||||||||||||||||||||||||||||||
Commercial land and land development | 80 | 0 | 215 | 295 | 12,299 | 12,594 | 0 | ||||||||||||||||||||||||||||||||||
Residential real estate | 1,627 | 593 | 1,334 | 3,554 | 77,568 | 81,122 | 193 | ||||||||||||||||||||||||||||||||||
Home equity lines of credit | 163 | 0 | 448 | 611 | 16,920 | 17,531 | 40 | ||||||||||||||||||||||||||||||||||
Consumer | 20 | 0 | 0 | 20 | 2,399 | 2,419 | 0 | ||||||||||||||||||||||||||||||||||
Total | $ | 3,305 | $ | 717 | $ | 7,434 | $ | 11,456 | $ | 311,881 | $ | 323,337 | $ | 1,145 | |||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 58 | $ | — | $ | — | $ | 58 | $ | 23,365 | $ | 23,423 | $ | — | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | 386 | 386 | 66,308 | 66,694 | — | ||||||||||||||||||||||||||||||||||
Owner occupied | 237 | — | 119 | 356 | 50,270 | 50,626 | — | ||||||||||||||||||||||||||||||||||
1-4 family investment | 99 | 83 | 306 | 488 | 27,397 | 27,885 | — | ||||||||||||||||||||||||||||||||||
Commercial land and land development | 16 | — | — | 16 | 12,607 | 12,623 | — | ||||||||||||||||||||||||||||||||||
Residential real estate | 730 | 926 | 1,404 | 3,060 | 38,427 | 41,487 | 231 | ||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | 479 | 479 | 12,333 | 12,812 | — | ||||||||||||||||||||||||||||||||||
Consumer | 58 | 1 | — | 59 | 2,239 | 2,298 | — | ||||||||||||||||||||||||||||||||||
Total | $ | 1,198 | $ | 1,010 | $ | 2,694 | $ | 4,902 | $ | 232,946 | $ | 237,848 | $ | 231 | |||||||||||||||||||||||||||
Loan balances above include net deferred loan fees of $534,000 and $444,000 at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
Included within the loan portfolio are loans in which the Bank discontinued the accrual of interest due to the deterioration in the financial condition of the borrower. Such loans approximated $7,013,000 and $3,863,000 at December 31, 2013 and December 31, 2012, respectively. If the nonaccrual loans had performed in accordance with their original terms, interest income would have increased by $241,000 for the twelve months ended December 31, 2013 and $236,000 for the twelve months ended December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
The following presents loans by loan portfolio segments that were on a nonaccrual status as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 324 | $ | 190 | |||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,990 | 1,159 | |||||||||||||||||||||||||||||||||||||||
Owner occupied | 674 | 399 | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | 168 | 389 | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | 1,167 | 1,173 | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 475 | 553 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 7,013 | $ | 3,863 | |||||||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Bank further identifies all loans in nonaccrual status and troubled debt restructured loans as impaired loans, except large groups of smaller balance homogeneous loans that are collectively evaluated for impairment. Accordingly, the Bank does not separately identify individual consumer and residential loans for impairment disclosures, unless the loans are the subject of a restructuring agreement. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. When the measure of an impaired loan results in a realizable value that is less than the recorded investment in the loan, the difference is recorded as a specific valuation allowance against that loan and the Bank then makes the appropriate adjustment to the allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||
The following presents impaired loans by loan portfolio segments as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||
Investment in | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||
Impaired | Balance of | Investment in | Recognized | ||||||||||||||||||||||||||||||||||||||
Loans | Impaired Loans | Impaired Loans | |||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 857 | $ | 857 | $ | — | $ | 870 | $ | 40 | |||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 5,895 | 5,895 | — | 6,489 | 70 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 1,172 | 1,172 | — | 1,571 | 34 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,076 | 1,076 | — | 1,097 | 33 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | 215 | — | 218 | 8 | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,816 | 1,816 | — | 2,016 | 37 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 772 | 772 | — | 790 | 11 | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 166 | 166 | 1 | 188 | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 128 | 128 | 8 | 129 | 8 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||
Commercial | 1,023 | 1,023 | 1 | 1,058 | 40 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 5,895 | 5,895 | — | 6,489 | 70 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 1,172 | 1,172 | — | 1,571 | 34 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,076 | 1,076 | — | 1,097 | 33 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | 215 | — | 218 | 8 | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,944 | 1,944 | 8 | 2,145 | 45 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 772 | 772 | — | 790 | 11 | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
$ | 12,097 | 12,097 | $ | 9 | $ | 13,368 | $ | 241 | |||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 731 | $ | 731 | — | $ | 747 | $ | 34 | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,082 | 3,082 | — | 3,441 | 61 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 991 | 991 | — | 1,059 | 36 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,073 | 1,073 | — | 1,084 | 35 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,207 | 1,207 | — | 1,244 | 19 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 853 | 853 | — | 865 | 12 | ||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | — | 6 | — | ||||||||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 177 | 177 | 2 | 191 | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 343 | 343 | 148 | 350 | 9 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 518 | 518 | 216 | 541 | 11 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||
Commercial | 908 | 908 | 2 | 938 | 34 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,082 | 3,082 | — | 3,441 | 61 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 991 | 991 | — | 1,059 | 36 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,416 | 1,416 | 148 | 1,434 | 44 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,725 | 1,725 | 216 | 1,785 | 30 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 853 | 853 | — | 865 | 12 | ||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | — | 6 | — | ||||||||||||||||||||||||||||||||||||
$ | 8,978 | $ | 8,978 | $ | 366 | $ | 9,528 | $ | 217 | ||||||||||||||||||||||||||||||||
The recorded investment in impaired loans increased by $3,119,000 at December 31, 2013 since December 31, 2012. This increase results from purchased impaired loans totaling $4,411,000 attributable to the Union consolidation and is largely related to one large commercial loan of $3,646,000, in addition to thirteen additional non-related commercial and mortgage loans aggregating $765,000. Each of the Union purchased impaired loans are carried at fair value based on the purchase method of accounting. Historical Riverview impaired loans decreased by $1,293,000 from December 31,2012 to December 31, 2013. This decrease is attributable mainly to significant principal repayment on two non-related commercial relationships, and charge off/transfer to other real estate of one residential loan and two non-related commercial relationships. Historical Riverview impaired loans were measured for impairment and additions were made to the allowance for loan losses based on the measurement and as deemed appropriate by management. | |||||||||||||||||||||||||||||||||||||||||
Impaired loans also include all loans modified and identified as troubled debt restructurings (“TDR”). A loan is deemed to be a TDR when the Bank agrees to a modification in the terms of a loan resulting in a concession made by the Bank in an effort to mitigate potential loss arising from a borrower’s financial difficulty. As of December 31, 2013 there were 22 restructured loans totaling $7,071,000 with 15 separate and unrelated borrowers who were experiencing financial difficulty. The modifications on these loans included reductions in interest rates, extension of maturity dates, lengthening of amortization schedules and provisions for interest only payments. There are no commitments to extend additional funds to any of these borrowers. | |||||||||||||||||||||||||||||||||||||||||
The following table presents the number of loans and recorded investment in loans restructured and identified as troubled debt restructurings for the twelve months ended December 31, 2013, as well as the number and recorded investment in these loans that subsequently defaulted. Defaulted loans are those which are 30 days or more past due for payment under the modified terms. | |||||||||||||||||||||||||||||||||||||||||
(In thousands, except contracts data) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 1 | 63 | 63 | ||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||
Contracts | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | ||||||||||||||||||||||||||||||||||||||
Commercial real estate: | — | — | |||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | |||||||||||||||||||||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||||||||||||||||||||
(In thousands, except contracts data) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 177 | $ | 177 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
Owner occupied | 2 | 872 | 872 | ||||||||||||||||||||||||||||||||||||||
1-4 family investment | 2 | 785 | 785 | ||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | ||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | — | ||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 1 | 415 | 415 | ||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||
Contracts | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | ||||||||||||||||||||||||||||||||||||||
Commercial real estate: | — | — | |||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 1 | 415 | |||||||||||||||||||||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||||||
The allowance for loan losses is composed of individual valuation allowances deemed necessary to absorb probable and quantifiable losses based upon current knowledge of the loan portfolio, and loan pool valuation allowances, allocated and unallocated, deemed necessary to absorb losses which are not specifically identified but are inherent in the portfolio. Management evaluates the adequacy of the allowance on a quarterly basis. If the allowance for loan losses is not sufficient to cover actual loan losses, the Bank‘s earnings may be reduced. | |||||||||||||||||||||||||||||||||||||||||
Individual valuation allowances are established in connection with specific loan reviews and the asset classification process including the procedures for impairment testing. Such a valuation, which includes a review of loans for which full collectability in accordance with contractual terms is not reasonably assured, considers the estimated fair value of the underlying collateral less the costs to sell, or the present value of expected future cash flows, or the loan’s observable market value. Any shortfall that exists from this analysis results in a specific allowance for the loan. Pursuant to policy, loan losses must be charged off in the period the loans, or portions thereof, are deemed uncollectible. Assumptions and judgments by management in conjunction with outside sources are used to determine whether full collectability of a loan is not reasonably assured. These assumptions and judgments are also used to determine the estimates of the fair value of the underlying collateral or the present value of expected future cash flows or the loan’s observable market value. Individual valuation allowances could differ materially as a result of changes in these assumptions and judgments. Individual loan analyses are performed quarterly on specific loans considered to be impaired. The results of the individual valuation allowances are aggregated and included in the overall allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||
Loan pool valuation allowances represent loss allowances that have been established to recognize the inherent risks associated with the Bank’s lending activity, but which, unlike individual allowances, have been allocated to unimpaired loans within the following eight portfolio segments: commercial loans; non-owner occupied commercial real estate loans; owner occupied commercial real estate loans; one-to-four family investment property loans; commercial land/land development/construction loans; residential real estate loans; home equity lines of credit; and consumer loans. Each of the segments for commercial loans, non-owner occupied commercial real estate loans, owner occupied commercial real estate loans, one-to-four family investment property loans, and commercial land/land development/ construction loans have sub-segments for loan participations bought, and for loans generated by the branches and commercial offices in Schuylkill and Berks counties, which are newer marketed areas adjacent to the Bank’s original geographic footprint. The loans in these sub-segments have risk characteristics that differ from the general segments and merit separate analysis in order to afford additional granularity and accuracy in management’s estimate for the allowance for loan losses. The Bank measures estimated credit losses on each of these groups of loans based on the historical loss rate of each group. The historical loss rate is calculated based on the average annualized net charge-offs over the most recent eight calendar quarters. Unimpaired criticized and classified loans are further segregated as “sub- pools” within each of these eight segments. | |||||||||||||||||||||||||||||||||||||||||
A separate, higher loss factor is ascribed to each of these “sub-pools” based on the relative risk in each segment as indicated by historical loss ratios, the level of criticized/classified assets, and the nature of each segment in terms of collateral and inherent risk of the loan type. Management believes that historical losses or even recent trends in losses do not form a sufficient basis to determine the appropriate level for the allowance. Management therefore also considers the following qualitative factors that are likely to cause estimated credit losses associated with each of the portfolio segments to differ from historical loss experience: | |||||||||||||||||||||||||||||||||||||||||
• | Changes in lending policies and procedures, including changes in underwriting standards; | ||||||||||||||||||||||||||||||||||||||||
• | Changes in national, regional and local economic and business conditions and developments that affect the collectability of the portfolio; | ||||||||||||||||||||||||||||||||||||||||
• | Changes in the nature and volume of the portfolio and in the terms of loans; | ||||||||||||||||||||||||||||||||||||||||
• | Changes in the experience, ability and depth of lending management and other relevant staff; | ||||||||||||||||||||||||||||||||||||||||
• | Changes in the volume and severity of past due loans, the volume of non-accrual loans, and the volume and severity of adversely classified loans; | ||||||||||||||||||||||||||||||||||||||||
• | Changes in the quality of the Bank’s loan review system; | ||||||||||||||||||||||||||||||||||||||||
• | The existence and effect of any concentrations of credit, and the changes in the level of such concentrations; and | ||||||||||||||||||||||||||||||||||||||||
• | The effect of other external factors such as competition and legal and regulatory requirements in the level of estimated credit losses in the existing portfolio. | ||||||||||||||||||||||||||||||||||||||||
Each portfolio segment is examined quarterly with regard to the impact of each of these factors on the quality and risk profile of the pool, and adjustments ranging from zero to fifty basis points per factor are calculated. The sum of these qualitative factor adjustments are added to the historical loss ratio for each segment, and the resulting percentage is applied to the loan balance of the segment to arrive at the required loan pool valuation allowance. An unallocated valuation allowance estimate is also made generally in order to give effect to significant loan growth in 2013 resulting from entering into new markets in Schuylkill County in mid-2011 and in Berks County in mid-2012. These portfolios are unseasoned and have not yet developed any loss history. Growth is expected to continue in these portfolios, with focus being given to business, construction, and commercial real estate loans. These loans are normally larger and more complex, and their collection rates are harder to predict. Management determines the unallocated portion, which represents the difference between the reported allowance for loan losses and the calculated allowance for loan losses, based generally on the following criteria: | |||||||||||||||||||||||||||||||||||||||||
• | risk of imprecision in the specific and general reserve allocations; | ||||||||||||||||||||||||||||||||||||||||
• | other potential exposure in the loan portfolio, including covering the risks in the growing book of loans in the Schuylkill and Berks county regions; | ||||||||||||||||||||||||||||||||||||||||
• | variances in management’s assessment of national and local economic conditions; and | ||||||||||||||||||||||||||||||||||||||||
• | other internal or external factors that management believes appropriate at the time. | ||||||||||||||||||||||||||||||||||||||||
The loan pool valuation allowance for each segment along with the unallocated valuation allowance is totaled and added to the individual valuation allowance for impaired loans to arrive at the total allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||
These evaluations are inherently subjective because even though they are based on objective data, it is management’s interpretation of the data that determines the amount of the appropriate allowance. If the evaluations prove to be incorrect, the allowance for loan losses may not be sufficient to cover losses inherent in the loan portfolio resulting in additions to the allowance for loan losses and a reduction in Bank earnings. | |||||||||||||||||||||||||||||||||||||||||
Loan Charge Offs | |||||||||||||||||||||||||||||||||||||||||
Charge offs of commercial and industrial loans and commercial real estate and construction loans are recorded promptly upon determination that all or a portion of any loan balance is uncollectible. A loan is considered uncollectible when the borrower is 90 days or more delinquent in principal or interest repayment and the following conditions exist: | |||||||||||||||||||||||||||||||||||||||||
• | It is unlikely that the borrower will have the ability to pay the debt in a timely manner. | ||||||||||||||||||||||||||||||||||||||||
• | Collateral value is insufficient to cover the outstanding indebtedness. | ||||||||||||||||||||||||||||||||||||||||
• | Guarantors do not provide adequate support. | ||||||||||||||||||||||||||||||||||||||||
All unsecured consumer loans are charged-off when they become 120 days delinquent or when it is determined that the debt is uncollectible. Overdrafts are charged off when it is determined recovery is not likely or the overdraft becomes 45 days old, whichever comes first. | |||||||||||||||||||||||||||||||||||||||||
All secured consumer loans, except those secured by a primary or secondary residence, are charged off when they become 120 days delinquent, or when it is determined that the debt is uncollectible. | |||||||||||||||||||||||||||||||||||||||||
Uncollateralized portions of first mortgage residential real estate loans and consumer loans secured by real estate are charged off upon completion of a sheriff’s sale, but prior to the transfer of the fair value carrying balance to other real estate owned. Current appraisals are obtained to determine the appropriate carrying balance with any exposed portion of the loan principal balance being charged off. | |||||||||||||||||||||||||||||||||||||||||
The allowance for loan losses is presented by loan portfolio segments with the outstanding balances of loans for the years ended December 31, 2013 and 2012 as follows: | |||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Non-Owner | Owner | 1-4 Family | Commercial – | Residential | Home | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||
Occupied | Occupied | Investment | Land and | Real Estate | Equity | ||||||||||||||||||||||||||||||||||||
Land | Lines of | ||||||||||||||||||||||||||||||||||||||||
Development | Credit | ||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 545 | $ | 841 | $ | 774 | $ | 456 | $ | 143 | $ | 582 | $ | 72 | $ | 26 | $ | 297 | $ | 3,736 | |||||||||||||||||||||
Charge-offs | — | — | 222 | 167 | — | 314 | 65 | 4 | — | 772 | |||||||||||||||||||||||||||||||
Recoveries | 30 | — | 26 | 1 | — | — | — | 2 | — | 59 | |||||||||||||||||||||||||||||||
Provision | (151 | ) | 34 | 253 | 83 | 1 | 299 | 96 | 6 | 19 | 640 | ||||||||||||||||||||||||||||||
Ending balance | $ | 424 | $ | 875 | $ | 831 | $ | 373 | $ | 144 | $ | 567 | $ | 103 | $ | 30 | $ | 316 | $ | 3,663 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | 8 | $ | — | $ | — | $ | — | $ | 9 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 423 | $ | 875 | $ | 831 | $ | 373 | $ | 144 | $ | 559 | $ | 103 | $ | 30 | $ | 316 | $ | 3,654 | |||||||||||||||||||||
Loans as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 37,253 | $ | 77,817 | $ | 68,400 | $ | 26,201 | $ | 12,594 | $ | 81,122 | $ | 17,531 | $ | 2,419 | $ | 323,337 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,023 | $ | 5,895 | $ | 1,172 | $ | 1,076 | $ | 215 | $ | 1,944 | $ | 772 | $ | — | $ | 12,097 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 36,230 | $ | 71,922 | $ | 67,228 | $ | 25,125 | $ | 12,379 | $ | 79,178 | $ | 16,759 | $ | 2,419 | $ | 311,240 | |||||||||||||||||||||||
Allowance for Loan Losses as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 693 | $ | 525 | $ | 593 | $ | 365 | $ | 147 | $ | 680 | $ | 63 | $ | 24 | $ | 333 | $ | 3,423 | |||||||||||||||||||||
Charge-offs | 268 | 186 | 353 | 52 | — | 31 | — | 30 | — | 920 | |||||||||||||||||||||||||||||||
Recoveries | 91 | — | — | — | — | 2 | — | — | — | 93 | |||||||||||||||||||||||||||||||
Provision | 29 | 502 | 534 | 143 | (4 | ) | (69 | ) | 9 | 32 | (36 | ) | 1,140 | ||||||||||||||||||||||||||||
Ending balance | $ | 545 | $ | 841 | $ | 774 | $ | 456 | $ | 143 | $ | 582 | $ | 72 | $ | 26 | $ | 297 | $ | 3,736 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2 | $ | — | $ | — | $ | 148 | $ | — | $ | 216 | $ | — | $ | — | $ | — | $ | 366 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 543 | $ | 841 | $ | 774 | $ | 308 | $ | 143 | $ | 366 | $ | 72 | $ | 26 | $ | 297 | $ | 3,370 | |||||||||||||||||||||
Loans as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 23,423 | $ | 66,694 | $ | 50,626 | $ | 27,885 | $ | 12,623 | $ | 41,487 | $ | 12,812 | $ | 2,298 | $ | 237,848 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 908 | $ | 3,082 | $ | 991 | $ | 1,416 | $ | — | $ | 1,725 | $ | 853 | $ | 3 | $ | 8,978 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 22,515 | $ | 63,612 | $ | 49,635 | $ | 26,469 | $ | 12,623 | $ | 39,762 | $ | 11,959 | $ | 2,295 | $ | 228,870 | |||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||||||||||
The Bank has established a credit risk rating system to quantify the risk in the Bank’s loan portfolio. This system is a critical tool for managing the Bank’s lending activities and for evaluating appropriate loan loss reserves. This rating system is dynamic with risk ratings subject to change at any time when circumstances warrant. The system rates the strength of the borrower and is designed to be a tool for management to manage the Bank’s credit risk and provide an early warning system for negative migration of credits. The system also provides for recognition of improvement in credits. Risk ratings move dynamically, both negatively and positively. | |||||||||||||||||||||||||||||||||||||||||
Each new, renewed or modified credit facility is given a risk rating that takes into consideration factors that affect credit quality. The primary determinants of the risk rating assigned are based upon the reliability of the primary source of repayment and the past, present, and projected financial condition of the borrower. The rating also reflects current economic and industry conditions. Major factors used in determining the rating include the following variables: | |||||||||||||||||||||||||||||||||||||||||
• | Capitalization | ||||||||||||||||||||||||||||||||||||||||
• | Liquidity | ||||||||||||||||||||||||||||||||||||||||
• | Cash flow | ||||||||||||||||||||||||||||||||||||||||
• | Revenue and earnings trends | ||||||||||||||||||||||||||||||||||||||||
• | Management strength or weakness | ||||||||||||||||||||||||||||||||||||||||
• | Quality of financial information | ||||||||||||||||||||||||||||||||||||||||
• | Reputation and credit history | ||||||||||||||||||||||||||||||||||||||||
• | Industry, including economic climate | ||||||||||||||||||||||||||||||||||||||||
In addition, the following factors may contribute to enhance the risk rating derived from the above factors: | |||||||||||||||||||||||||||||||||||||||||
Collateral: The rating may be affected by the type and quality of collateral, the level of coverage, the economic life of the collateral, liquidation value, and the Bank’s ability to dispose of the collateral. | |||||||||||||||||||||||||||||||||||||||||
Guarantors: Guarantees can differ substantially in enhancing the risk rating assigned to a loan or lending commitment. In order to provide enough support to impact the assigned rating by one or more levels, the guarantee must be unconditional and be from an individual or entity with substantial financial strength and a vested interest in the success of the borrower. | |||||||||||||||||||||||||||||||||||||||||
The Bank assigns risk ratings based on a scale from 1 to 8 with 1 being the highest quality rating and 8 being the lowest quality grade. | |||||||||||||||||||||||||||||||||||||||||
• | Levels 1-4 are “Pass” grades | ||||||||||||||||||||||||||||||||||||||||
• | Level 5 is “Special Mention” (criticized loan) | ||||||||||||||||||||||||||||||||||||||||
• | Level 6 is “Substandard” (classified loan) | ||||||||||||||||||||||||||||||||||||||||
• | Level 7 is “Doubtful” (classified loan) | ||||||||||||||||||||||||||||||||||||||||
• | Level 8 is “Loss” (classified loan) | ||||||||||||||||||||||||||||||||||||||||
Risk Rating Definitions | |||||||||||||||||||||||||||||||||||||||||
1 – Excellent | |||||||||||||||||||||||||||||||||||||||||
This category is reserved for loans that contain a virtual absence of any credit risk. The loan is secured by properly margined cash collateral (in accordance with loan policy). Loans that are unquestionably guaranteed by the U.S. government, or any agency thereof, would also fit this category. | |||||||||||||||||||||||||||||||||||||||||
2 – Good | |||||||||||||||||||||||||||||||||||||||||
Loans in this category would be characterized by nominal risk and strong repayment certainty. This would include loans to companies or individuals that are paying as agreed and that are either unsecured or secured where reliance is placed on non-liquid or less than good quality liquid collateral. | |||||||||||||||||||||||||||||||||||||||||
3 – Satisfactory | |||||||||||||||||||||||||||||||||||||||||
Loans in this category are considered to exhibit an average level of credit risk. However, these loans have certain risk characteristics, whether due to management, industry, economic or financial concerns. Credits with satisfactory liquidity and leverage, with losses considered to be of a temporary nature for which there is only minor concern would be so rated. Loans for start-up businesses or loans to firms exhibiting high leverage could receive this rating. Loans in this category would also include borrowers whose underlying financial strength may be relatively weak. However, risk of loss is considered minimal due to adequate, well-margined and controlled collateral. | |||||||||||||||||||||||||||||||||||||||||
4 – Watch | |||||||||||||||||||||||||||||||||||||||||
Loans in this category would typically be experiencing some negative trends due to financial, operational, economic, or regulatory reasons. A deteriorating collateral position or guarantor, in isolation, could also justify this rating. Such loans must have elevated monitoring as a result of negative trends which, if not addressed, could result in an unacceptable increase in credit risk. | |||||||||||||||||||||||||||||||||||||||||
5 – Special Mention | |||||||||||||||||||||||||||||||||||||||||
A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in a deterioration of the repayment prospects for the loan or in the Bank’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant an adverse classification. Loans for which economic or market conditions are beginning to adversely affect the borrower may be so rated. An adverse trend in the borrower’s operations or an imbalanced position in the balance sheet which has not reached a point where liquidation is jeopardized may be best handled by this rating. Loans in which actual weaknesses are evident and significant should be considered for more serious criticism. In cases where the credit is weak but trends are improving, and/or collateral support is within normal advance margins, consideration should be given for the next higher rating. | |||||||||||||||||||||||||||||||||||||||||
6 – Substandard | |||||||||||||||||||||||||||||||||||||||||
A substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or by the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. These loans, even if apparently protected by collateral value, have well-defined weaknesses related to adverse financial, managerial, economic, market, or political conditions which have clearly jeopardized repayment of principal and interest as originally intended. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. All loans in nonaccrual status may be rated no higher than substandard. | |||||||||||||||||||||||||||||||||||||||||
7 – Doubtful | |||||||||||||||||||||||||||||||||||||||||
A doubtful loan has all of the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending events that may work to strengthen the asset, its classification as a loss is deferred until its status can be better determined in light of pending events. Generally, pending events should be resolved within a relatively short period and the rating will be adjusted based on the new information. Because of high probability of loss, loans rated doubtful must be in non-accrual status. | |||||||||||||||||||||||||||||||||||||||||
8 – Loss | |||||||||||||||||||||||||||||||||||||||||
Loans classified loss are considered uncollectible and of such little value that their continuance as a bankable asset is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though a partial recovery may be effected in the future. When access to collateral, rather than the value of the collateral, is a problem, a less severe classification may be appropriate. However, the Bank will not maintain an asset on the balance sheet if realizing its value would require long-term litigation or other lengthy recovery efforts. Losses are recorded in the period the asset becomes uncollectible. | |||||||||||||||||||||||||||||||||||||||||
The following presents the credit quality indicators and total credit exposure for each segment in the loan portfolio by internally assigned grades as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Non-Owner | Owner | 1-4 Family | Commercial – | Residential | Home | Consumer | Total | ||||||||||||||||||||||||||||||||
Occupied | Occupied | Investment | Land and | Real Estate | Equity | ||||||||||||||||||||||||||||||||||||
Land | Lines of | ||||||||||||||||||||||||||||||||||||||||
Development | Credit | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
1 – Excellent | $ | 682 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 179 | $ | 861 | |||||||||||||||||||||||
2 – Good | 4,652 | 208 | 2,184 | 59 | 195 | — | 30 | — | 7,328 | ||||||||||||||||||||||||||||||||
3 – Satisfactory | 29,519 | 71,375 | 59,884 | 18,928 | 11,670 | 76,298 | 16,145 | 2,240 | 286,059 | ||||||||||||||||||||||||||||||||
4 – Watch | 916 | 2,596 | 4,235 | 5,062 | 298 | 1,735 | 515 | — | 15,357 | ||||||||||||||||||||||||||||||||
5 – Special Mention | 376 | 2,616 | 904 | 1,187 | 216 | 127 | 366 | — | 5,792 | ||||||||||||||||||||||||||||||||
6 – Substandard | 1,108 | 1,022 | 1,193 | 965 | 215 | 2,962 | 475 | — | 7,940 | ||||||||||||||||||||||||||||||||
7 – Doubtful | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
8 – Loss | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 37,253 | $ | 77,817 | $ | 68,400 | $ | 26,201 | $ | 12,594 | $ | 81,122 | $ | 17,531 | $ | 2,419 | $ | 323,337 | |||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
1 – Excellent | $ | 161 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 161 | |||||||||||||||||||||||
2 – Good | 3,768 | 239 | 2,392 | 68 | 212 | — | 59 | — | 6,738 | ||||||||||||||||||||||||||||||||
3 – Satisfactory | 16,980 | 61,779 | 43,353 | 17,062 | 11,290 | 39,313 | 11,061 | 2,295 | 203,133 | ||||||||||||||||||||||||||||||||
4 – Watch | 652 | 250 | 3,279 | 8,218 | 653 | 17 | 771 | — | 13,840 | ||||||||||||||||||||||||||||||||
5 – Special Mention | 954 | 3,779 | 590 | 1,349 | 468 | 164 | 368 | — | 7,672 | ||||||||||||||||||||||||||||||||
6 – Substandard | 908 | 647 | 1,012 | 1,188 | — | 1,993 | 553 | 3 | 6,304 | ||||||||||||||||||||||||||||||||
7 – Doubtful | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
8 – Loss | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 23,423 | $ | 66,694 | $ | 50,626 | $ | 27,885 | $ | 12,623 | $ | 41,487 | $ | 12,812 | $ | 2,298 | $ | 237,848 | |||||||||||||||||||||||
The adequacy of the allowance is analyzed quarterly, with any adjustment to the level deemed appropriate by credit administration management, based upon its risk assessment of the entire portfolio. Based upon credit administration’s review of the classified loans and the overall allowance levels as they relate to the entire loan portfolio at December 31, 2013, management believes the allowance for loan losses has been established at levels sufficient to cover the probable incurred losses in the loan portfolio. | |||||||||||||||||||||||||||||||||||||||||
Purchased Loans | |||||||||||||||||||||||||||||||||||||||||
Purchased loans are initially recorded at their acquisition date fair values. The carryover of the allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for purchased loans are based on a cash flow methodology that involves assumptions and judgments as to credit risk, default rates, loss severity, collateral values, discount rates, payment speeds, and prepayment risk. | |||||||||||||||||||||||||||||||||||||||||
As part of its acquisition due diligence process, the Bank reviewed the acquired institution’s loan grading system and the associated risk rating for loans. In performing this review, the Bank considers cash flows, debt service coverage, delinquency status, accrual status, and collateral for the loan. This process allowed the Bank to clearly identify the population of acquired loans that had evidence of deterioration in credit quality since origination and for which it was probable, at acquisition, that the Bank would be unable to collect all contractually required payments. All such loans identified by the Bank were considered to be within the scope of ASC 310-30, Loan and Debt Securities Acquired with Deteriorated Credit Quality and are identified as “Purchased Credit Impaired Loans”. | |||||||||||||||||||||||||||||||||||||||||
As part of the consolidation with Union, effective November 1, 2013, the Bank identified fourteen purchased credit impaired (“PCI”) loans. For all PCI loans, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable discount. The non-accretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require the Bank to evaluate the need for an allowance for loan losses on these loans. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the non-accretable discount which the Bank then reclassifies as an accretable discount that is recognized into interest income over the remaining life of the loan. The Bank’s evaluation of the amount of future cash flows that it expects to collect is based on a cash flow methodology that involves assumptions and judgments as to credit risk, collateral values, discount rates, payment speeds, and prepayment risk. Charge-offs of the principal amount on purchased loans are first applied to the non-accretable discount. | |||||||||||||||||||||||||||||||||||||||||
As a result of this accounting methodology, certain credit-related ratios of the Bank, including, for example, the growth rate in non-performing assets, may not necessarily be directly comparable with periods prior to the acquisition of the PCI loans. | |||||||||||||||||||||||||||||||||||||||||
For purchased loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loans are a component of the initial fair value, and the discount is accreted to interest income over the life of the asset. Subsequent to the purchase date, the method used to evaluate the sufficiency of the credit discount is similar to originated loans, and if necessary, additional reserves are recognized in the allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||
The following is a summary of the loans purchased in the Union transaction as November 1, 2013, the date of consolidation: | |||||||||||||||||||||||||||||||||||||||||
Union | Purchased | Purchased | Total | ||||||||||||||||||||||||||||||||||||||
Credit | Non- | Purchased | |||||||||||||||||||||||||||||||||||||||
Impaired | Impaired | Loans | |||||||||||||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||||||||||||||
Contractually required principal and interest at acquisition | $ | 10,290 | $ | 92,704 | $ | 102,994 | |||||||||||||||||||||||||||||||||||
Contractual cash flows not expected to be collected | (5,487 | ) | (9,492 | ) | (14,979 | ) | |||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 4,803 | 83,212 | 88,015 | ||||||||||||||||||||||||||||||||||||||
Interest component of expected cash flows | (386 | ) | (12,278 | ) | (12,664 | ) | |||||||||||||||||||||||||||||||||||
Basis in acquired loans at acquisition – estimated fair value | $ | 4,417 | $ | 70,934 | $ | 75,351 | |||||||||||||||||||||||||||||||||||
The unpaid principal balances and the related carrying amount of acquired loans as of December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||
Credit impaired purchased loans evaluated individually for incurred credit losses | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 7,010 | |||||||||||||||||||||||||||||||||||||||
Carrying Amount | 4,411 | ||||||||||||||||||||||||||||||||||||||||
Other purchased loans evaluated collectively for incurred credit losses | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | 70,358 | ||||||||||||||||||||||||||||||||||||||||
Carrying Amount | 68,284 | ||||||||||||||||||||||||||||||||||||||||
Total Purchased Loans | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | 77,368 | ||||||||||||||||||||||||||||||||||||||||
Carrying Amount | 72,695 | ||||||||||||||||||||||||||||||||||||||||
The changes in the accretable discount related to the purchased credit impaired loans are as follows: | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||
Balance – beginning of period | $ | — | |||||||||||||||||||||||||||||||||||||||
Union acquisition | 386 | ||||||||||||||||||||||||||||||||||||||||
Accretion recognized during the period | (23 | ) | |||||||||||||||||||||||||||||||||||||||
Net reclassification from non-accretable to accretable | 15 | ||||||||||||||||||||||||||||||||||||||||
Balance – end of period | $ | 378 |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Premises and Equipment | ' | ||||||||||
Note 6 – Premises and Equipment | |||||||||||
Premises and equipment consisted of the following at December 31: | |||||||||||
Estimated Useful Life | 2013 | 2012 | |||||||||
(In thousands) | |||||||||||
Land | — | $ | 1,410 | $ | 741 | ||||||
Bank premises | 7 – 50 years | 8,876 | 4,618 | ||||||||
Leasehold improvements | 10 – 30 years | 131 | 2,531 | ||||||||
Furnishings and equipment | 3 – 10 years | 3,898 | 2,602 | ||||||||
Construction in progress | — | 93 | 10 | ||||||||
14,408 | 10,502 | ||||||||||
Accumulated depreciation | (6,056 | ) | (3,340 | ) | |||||||
$ | 8,352 | $ | 7,162 | ||||||||
Operating and Capital Leases | |||||||||||
The Bank entered into a fifteen year operating lease agreement in 2003 for the land on which the Duncannon office is located. In 2005, the Bank entered into an agreement to lease an office on Good Hope Road in Hampden Township, Cumberland County, on which lease payments began in 2006 and extend through 2017. As part of the consolidation effective December 31, 2008, the Bank assumed the lease of the then Halifax National Bank’s branch in Elizabethville, Dauphin County, which began in 2008 and expires in 2018. During the latter part of 2010, the Bank entered into an agreement to lease the land occupied by the office located on East Wiconisco Avenue, Tower City, and Schuylkill County, on which lease payments began 2010 and extend through 2035. The Bank entered into an agreement during July 2011 to lease a branch office in Cressona, Schuylkill County, in which lease payments commenced August 2011 and extend through July 2016. During September 2011, the Bank entered into agreements to lease a commercial office in Pottsville and a branch office in Orwigsburg, Schuylkill County, in which lease payments commenced January 2012 through December 2016. Effective July 31, 2012, the Bank entered into an agreement to lease a commercial condominium unit in Wyomissing, Berks County, with lease payments commencing August 1, 2012 through July 31, 2013 and renewed on a month-to-month basis thereafter. On December 27, 2012, the Bank acquired a wealth management company and assumed the lease of its commercial office located in Orwigsburg, Schuylkill County in which lease payments of the original lease commenced May 1, 2012 and extend through April 30, 2015. The Bank is responsible for taxes, utilities and other expenses related to the properties. All of the lease agreements contain renewal options. Total expense for operating leases in 2013 and 2012 was $294,000 and $303,000, respectively. | |||||||||||
At December 31, 2013, future minimum lease payments under non-cancelable lease arrangements are as follows (in thousands): | |||||||||||
Years ending December 31, | |||||||||||
2014 | $ | 279 | |||||||||
2015 | 267 | ||||||||||
2016 | 247 | ||||||||||
2017 | 83 | ||||||||||
2018 | 58 | ||||||||||
Thereafter | 549 | ||||||||||
Effective October 11, 2012, Union entered into an installment lease purchase agreement relating to a branch office that was being built at 100 Hollywood Boulevard, Pottsville, Schuylkill County, Pennsylvania 17901. This capital lease was assumed by the Bank as part of the consolidation. Once the construction on this property was completed, the lease term commenced January 2014 in accordance with the commencement notice. The term of the lease is fifteen years commencing the date that construction is completed with the option to continue the lease for five year terms. The Bank has the exclusive right and option to purchase the premises at the end of the fifth year of the lease. Total future estimated expense related to this capital lease over the fifteen year term of the lease is $1,851,861 if the Bank continues to lease the premises. If the Bank exercises its option to purchase the premises at the end of the fifth year, the expense is estimated to be $1,411,315. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
Note 7 – Goodwill and Intangible Assets | |||||||||||||||||
Goodwill and intangible assets were $3,968,000 at December 31, 2013 and $2,844,000 at December 31, 2012. The carrying amount of goodwill was $2,297,000 at December 31, 2013 and 2012. The intangible assets increased to $1,670,000 at December 31, 2013 from $547,000 at December 31, 2012. The $1,123,000 increase in intangibles is mostly attributable to recording an additional core deposit intangible as a result of the consolidation with Union, which in turn was offset by amortization expense of $141,000. | |||||||||||||||||
The gross carrying amount and accumulated amortization related to intangible assets at December 31, 2013 and 2012 are presented below: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||
Amount | Amount | ||||||||||||||||
(In thousands) | |||||||||||||||||
Core deposit intangibles – HNB | $ | 173 | $ | 126 | $ | 173 | $ | 107 | |||||||||
Core deposit intangibles – Union | 1,264 | 32 | — | — | |||||||||||||
Customer list intangible | 463 | 84 | 463 | — | |||||||||||||
Loan servicing rights | 57 | 45 | 55 | 37 | |||||||||||||
Total intangible assets | $ | 1,957 | $ | 287 | $ | 691 | $ | 144 | |||||||||
During 2013, a core deposit intangible in the amount of $1,264,000 was recorded as a result of the consolidation with Union. The amortization of this intangible is based on an accelerated basis over the 12 year estimated life of the core deposit base. | |||||||||||||||||
During 2012 a customer list intangible in the amount of $463,000 was recorded as a result of the acquisition of the wealth management company. The amortization of this intangible is based on the sum of the years’ method calculated over a ten year period. | |||||||||||||||||
Amortization expense for all other intangible assets totaled $141,000 and $27,000 for 2013 and 2012, respectively, and is reflected within the consolidated statements of income. | |||||||||||||||||
Riverview estimates the amortization expense for the core deposit and customer list intangibles as follows (in thousands): | |||||||||||||||||
Years ending December 31, | |||||||||||||||||
2014 | $ | 286 | |||||||||||||||
2015 | 259 | ||||||||||||||||
2016 | 231 | ||||||||||||||||
2017 | 194 | ||||||||||||||||
2018 | 169 | ||||||||||||||||
Thereafter | 519 | ||||||||||||||||
$ | 1,658 | ||||||||||||||||
Based upon the goodwill analysis performed by an independent third party, there was no goodwill impairment for the years ended December 31, 2013 and 2012. |
Deposits
Deposits | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||
Deposits | ' | ||||||||||||||||
Note 8 – Deposits | |||||||||||||||||
Deposits at December 31, 2013 and 2012 are summarized as follows: | |||||||||||||||||
(Dollars in thousands) | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance | Average | Balance | Average | ||||||||||||||
Rate | Rate | ||||||||||||||||
Non-interest bearing demand | $ | 50,181 | 0 | % | $ | 24,526 | 0 | % | |||||||||
Interest-bearing demand | 127,992 | 0.49 | % | 97,576 | 0.95 | % | |||||||||||
Savings | 90,919 | 0.46 | % | 48,342 | 0.34 | % | |||||||||||
Time | 113,253 | 1.42 | % | 99,001 | 1.84 | % | |||||||||||
Total deposits | $ | 382,345 | $ | 269,445 | |||||||||||||
Scheduled contractual maturities of time deposits at December 31, 2013 are as follows (in thousands): | |||||||||||||||||
Years ending December 31, | |||||||||||||||||
2014 | $ | 56,654 | |||||||||||||||
2015 | 21,163 | ||||||||||||||||
2016 | 9,652 | ||||||||||||||||
2017 | 18,606 | ||||||||||||||||
2018 | 6,763 | ||||||||||||||||
Thereafter | 415 | ||||||||||||||||
$ | 113,253 | ||||||||||||||||
Time deposits of $100,000 or more at December 31, 2013 and 2012 approximated $39,850,000 and $39,340,000, respectively. | |||||||||||||||||
Interest expense on time deposits of $100,000 or more approximated $490,000 and $612,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||
The Bank accepts deposits from its executive officers, directors, their immediate families, and affiliated companies on the same terms as those for comparable transactions of unrelated customers. The amount of these deposits totaled $3,707,000 and $1,277,000 at December 31, 2013 and 2012, respectively. |
Borrowings
Borrowings | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Borrowings | ' | ||||||||||||||
Note 9 – Borrowings | |||||||||||||||
The Bank has an unsecured line of credit agreement with Atlantic Central Bankers Bank in the amount of $6,250,000 at December 31, 2013 and December 31, 2012. Interest accrues based on the daily federal funds rate. There were no amounts outstanding on this line of credit at December 31, 2013 or 2012. | |||||||||||||||
The Bank has entered into agreements with the Federal Home Loan Bank of Pittsburgh (“FHLB”) which allow for borrowings up to a percentage of certain qualifying collateral assets. At December 31, 2013, the Bank had a maximum borrowing capacity of approximately $120,572,000 with the FHLB of Pittsburgh. The borrowing capacity is collateralized by security agreements in certain real estate loans valued at $175,143,000 recorded on the books of the Bank. Borrowings from the FHLB of Pittsburgh include long-term borrowing agreements which are subject to restrictions and penalties for early repayment under certain circumstances and borrowings under repurchase advance agreements. | |||||||||||||||
A summary of short-term borrowings is as follows at December 31: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||
FHLB Open Repo Plus | $ | — | $ | 11,000 | |||||||||||
$ | — | $ | 11,000 | ||||||||||||
Weighted average rate at end of year | — | 0.25 | % | ||||||||||||
Maximum amount outstanding at any end of month | — | $ | 11,821 | ||||||||||||
Daily average amount outstanding | — | $ | 6,202 | ||||||||||||
Approximate weighted average interest rate for year | — | 0.26 | % | ||||||||||||
FHLB of Pittsburgh borrowings under long-term arrangements are summarized as follows at December 31: | |||||||||||||||
Maturity Date | Interest Rate | 2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||||
6/18/13 | 2.67 | % | Fixed rate | $ | — | $ | 2,550 | ||||||||
4/9/18 | 2.9 | % | Fixed rate until 4/9/2013 (1) | 5,000 | 5,000 | ||||||||||
$ | 5,000 | $ | 7,550 | ||||||||||||
(1) | Convertible select fixed rate to a floating rate of 3 month Libor plus 23 basis points resetting quarterly at the discretion of the FHLB. | ||||||||||||||
Scheduled contractual maturities of FHLB borrowings are as follows at December 31, 2013 (in thousands): | |||||||||||||||
Years Ending December 31, | |||||||||||||||
2018 | $ | 5,000 | |||||||||||||
$ | 5,000 | ||||||||||||||
The Company has a secured closed-end line of credit with The Gratz Bank, Gratz, Pennsylvania for $2,000,000, which was increased from $1,500,000 on May 30, 2012. The outstanding amount borrowed under this line of credit was $2,000,000 at December 31, 2013 and 2012. The interest rate is fixed at 5.50% until July 30, 2015 and is floating thereafter at 1% above the base Wall Street Journal U.S. prime rate. Interest only payments are due monthly, followed by monthly principal and interest payments beginning August 30, 2015. The maturity date of this loan is July 30, 2025. The line is secured by 300,000 shares of the Bank’s common stock. | |||||||||||||||
The Company has a $3,000,000 secured guidance line of credit with ACNB Bank that became effective January 11, 2013 with the terms as follows: | |||||||||||||||
• | The term is a twelve month revolving draw period followed by a 48 month non-revolving draw period. The maximum term of the facility for draws is 60 months followed by a principal repayment term. | ||||||||||||||
• | The interest rate is fixed at 3.99% until January 11, 2016. Thereafter, the interest rate will be adjusted every three years and indexed to the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of three years, as made available by the Federal Reserve, plus 3%, rounded up to the nearest 0.125%, with a floor of 4.50%. | ||||||||||||||
• | Each advance under the loan will require monthly interest only payments until January 11, 2016. Thereafter, each advance shall require180 consecutive monthly principal and interest payments in an amount sufficient to fully amortize the advance over 15 years. | ||||||||||||||
• | The guidance line of credit expires January 11, 2018. | ||||||||||||||
• | The line of credit is secured by 875,000 shares of the Bank’s common stock. | ||||||||||||||
As of December 31, 2013 the Company borrowed $3,000,000 on this credit line, but paid off the borrowing in full on January 11, 2014. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Postemployment Benefits [Abstract] | ' | ||||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||||
Note 10 – Employee Benefit Plans | |||||||||||||||||||||
Defined Contribution Plan | |||||||||||||||||||||
The Bank maintains a contributory 401(k) retirement plan for all eligible employees. Currently, the Bank’s policy is to match 100% of the employees’ voluntary contribution to the plan up to a maximum of 4% of the employees’ compensation. Additionally, the Bank may make discretionary contributions to the plan after considering current profits and business conditions. The amount charged to expense in 2013 and 2012 totaled $332,000 and $258,000, respectively. Of these amounts, discretionary contributions approximated $204,000 and $168,000, respectively. | |||||||||||||||||||||
Director Emeritus Plan | |||||||||||||||||||||
Effective November 2, 2011, a Director Emeritus Agreement (the “Agreement”) was entered into by and between the Company, the Bank and the Directors. In order to promote orderly succession of the Company’s and Bank’s Board of Directors, the Agreement defines the benefits the Company is willing to provide upon the termination of service to those individuals who currently serve as Directors of the Company and Bank as of December 31, 2011, where the Company will pay the Director $15,000 per year for services performed as a Director Emeritus, which may be increased at the sole discretion of the Board of Directors. The benefit is paid over five years, in 12 monthly installments to a Director: | |||||||||||||||||||||
• | upon termination of service as a Director on or after the age of 65, provided the Director agrees to provide certain ongoing services for Riverview; | ||||||||||||||||||||
• | upon termination of service as a Director due to a disability prior to age 65; | ||||||||||||||||||||
• | upon a change of control; | ||||||||||||||||||||
• | upon the death of a Director after electing to be a Director Emeritus. | ||||||||||||||||||||
Expenses recorded under the terms of this agreement were $38,000 and $30,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Deferred Compensation Agreements | |||||||||||||||||||||
The Bank maintains five Supplemental Executive Retirement Plan (“SERP”) agreements that provide specified benefits to certain key executives. The agreements were specifically designed to encourage key executives to remain as employees of the Bank. The agreements are unfunded, with benefits to be paid from the Bank’s general assets. After normal retirement, benefits are payable to the executive or his beneficiary in equal monthly installments for a period of 15 years for two of the executives and 20 years for three of the executives. There are provisions for death benefits should a participant die before his retirement date. These benefits are also subject to change of control and other provisions. | |||||||||||||||||||||
The Bank maintains a “Director Deferred Fee Agreement” (“DDFA”) which allows electing directors to defer payment of their directors’ fees until a future date. In addition the Bank maintains an “Executive Deferred Compensation Agreement” (“EDCA”) with two of its executives. This agreement, which was initiated in 2010, allows the executives of the Bank to defer payment of their base salary, bonus and performance based compensation until a future date. For both types of deferred fee agreements, the estimated present value of the future benefits is accrued over the effective dates of the agreements using an interest factor that is evaluated and approved by the compensation committee of the Board of Directors on an annual basis. The agreements are unfunded, with benefits to be paid from the Bank’s general assets. | |||||||||||||||||||||
The accrued benefit obligations for all the plans total $1,220,000 at December 31, 2013 and $673,000 at December 31, 2012 and are included in other liabilities. Expenses relating to these plans totaled $80,000 and $88,000 in the years ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
Riverview made a lump sum payment of $178,000 on January 3, 2012 in accordance with the terms of the DDFA of a director who passed away in mid-2011. No such payment was made during 2013. | |||||||||||||||||||||
Stock Option Plan | |||||||||||||||||||||
In January 2009, the Bank implemented a nonqualified stock option plan. The purpose of the 2009 Stock Option Plan was to advance the development, growth and financial condition of the Company by providing incentives through participation in the appreciation of the common stock of Riverview Financial Corporation to secure, retain and motivate its directors, officers and key employees and to align such person’s interests with those of the Company’s shareholders. Originally, shares of Company’s common stock that may be issued or transferred under this plan could not exceed, in the aggregate, 170,000 shares at an exercise price of $10.60 per share. On January 4, 2012, the 2009 Stock Option Plan was amended and restated to increase the number of shares of common stock that may be issued under the Plan through grants of nonqualified stock options. The amendment increased the number of shares available under the Plan, in the aggregate, to 220,000 shares from 170,000 shares that were originally documented in the Plan. The vesting schedule for all options is a seven year cliff, which means that the options are 100% vested in the seventh year following the grant date and the expiration date is ten years following the grant date. However, as of December 31, 2013, all of the 179,250 outstanding options were fully vested as a result of the Board of Director’s approval to accelerate the vesting period, which resulted in the company recording an additional expense of $117,000. | |||||||||||||||||||||
A summary of the status of Riverview’s stock option plan as of December 31, 2013 is as follows: | |||||||||||||||||||||
Options | Shares | Weighted Average | |||||||||||||||||||
Exercise Price Per | |||||||||||||||||||||
Share | |||||||||||||||||||||
Outstanding – January 1, 2013 | 179,250 | $ | 10.58 | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||
Forfeited | — | — | |||||||||||||||||||
Exercised | — | — | |||||||||||||||||||
Outstanding – December 31, 2013 | 179,250 | $ | 10.58 | ||||||||||||||||||
Options exercisable at year end | 179,250 | ||||||||||||||||||||
Weighted average fair value of options per share granted during the year | $ | 10.58 | |||||||||||||||||||
Remaining contractual life | 6 years | ||||||||||||||||||||
The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions. There were no options granted during 2013. | |||||||||||||||||||||
2012 Option | |||||||||||||||||||||
Grants | |||||||||||||||||||||
January | |||||||||||||||||||||
Dividend yield | 5.07 | % | |||||||||||||||||||
Expected life | 8.5 years | ||||||||||||||||||||
Expected volatility | 69.22 | % | |||||||||||||||||||
Risk-free interest rate | 1.41 | % | |||||||||||||||||||
Information pertaining to options outstanding at December 31, 2013 is as follows: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||
exercise | Outstanding | Average | Average | Exercisable | Average | Average | |||||||||||||||
price | Remaining | Exercise | Exercise | Remaining | |||||||||||||||||
Contractual | Price | Price | Contractual Life | ||||||||||||||||||
Life | |||||||||||||||||||||
$10.35 – $10.60 | 179,250 | 6 years | $ | 10.58 | 179,250 | $ | 10.58 | 6 years | |||||||||||||
The was no intrinsic value associated with the 179,250 outstanding stock options at December 31, 2013 considering that the market value of the stock as of the close of business at year end was $9.65 per share as compared with the option exercise price of $10.35 for 15,000 options and an option exercise price of $10.60 for 164,250 options. No options were exercised during 2013 and 2012. | |||||||||||||||||||||
Defined Benefit Pension Plan | |||||||||||||||||||||
As a result of the consolidation, the Company took over Union’s noncontributory defined benefit pension plan, which substantially covered all Union employees. The plan benefits were based on average salary and years of service. Union elected to freeze all benefits earned under the plan effective January 1, 2007. | |||||||||||||||||||||
The Company accounts for the defined pension plan in accordance with FASB ASC Topic 715, Compensation – Retirement Plans. This guidance requires the Company to recognize the funded status (i.e. the difference between the fair value of the plan assets and the projected benefit obligation) of the benefit plan. | |||||||||||||||||||||
The following table presents the plan’s funded status and the amounts recognized in the Company’s consolidated financial statements since the November 1st effective date of the consolidation. The measurement date for purposes of these valuations were December 31, 2013. | |||||||||||||||||||||
(In thousands) | Two | ||||||||||||||||||||
Months | |||||||||||||||||||||
Ended | |||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Obligations and funded status: | |||||||||||||||||||||
Change in benefit obligations: | |||||||||||||||||||||
Benefit obligation beginning November 1, 2013 | $ | 3,908 | |||||||||||||||||||
Interest cost | 28 | ||||||||||||||||||||
Actuarial cost | — | ||||||||||||||||||||
Change in actuarial assumption | 7 | ||||||||||||||||||||
Benefit payments | (20 | ) | |||||||||||||||||||
Benefit obligation at end of year | 3,923 | ||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||
Fair value of plan assets at November 1, 2013 | 3,642 | ||||||||||||||||||||
Actual return on plan assets | 52 | ||||||||||||||||||||
Benefit paid | (20 | ) | |||||||||||||||||||
Fair value of plan assets at end of year | 3,674 | ||||||||||||||||||||
Funded status included in other liabilities | ($ | 249 | ) | ||||||||||||||||||
Amounts related to the plan that have been recognized in accumulated other comprehensive loss but not yet recognized as a component of net periodic pension cost are as follows: | |||||||||||||||||||||
(In thousands) | 2013 | ||||||||||||||||||||
Net loss | $ | 9 | |||||||||||||||||||
The amount of net actuarial gain or loss expected to be amortized in 2014 is zero. Net periodic pension expense included the following components for the years ended December 31: | |||||||||||||||||||||
(In thousands) | Two | ||||||||||||||||||||
Months | |||||||||||||||||||||
Ended | |||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Interest cost | $ | 28 | |||||||||||||||||||
Expected return on plan assets | (32 | ) | |||||||||||||||||||
Net periodic pension expense | ($ | 4 | ) | ||||||||||||||||||
The accumulated benefit obligation was $3,923,000 at December 31, 2013. | |||||||||||||||||||||
The following is a summary of actuarial assumptions used for the Company’s pension plan: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Discount rate | 4.6 | % | |||||||||||||||||||
Expected long-term rate of return on plan assets | 6 | % | |||||||||||||||||||
The selected long-term rate of return on plan assets was primarily based on the asset allocation of the plan’s assets. Analysis of the historic returns on these asset classes and projections of expected future returns were considered in setting the long-term rate of return. | |||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): | |||||||||||||||||||||
2014 | $ | 227 | |||||||||||||||||||
2015 | 229 | ||||||||||||||||||||
2016 | 226 | ||||||||||||||||||||
2017 | 219 | ||||||||||||||||||||
2018 | 215 | ||||||||||||||||||||
2019 – 2023 | 1,136 | ||||||||||||||||||||
Total | $ | 2,252 | |||||||||||||||||||
The Company’s pension plan asset allocations, by asset category, are as follows: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Cash and cash equivalents | 0.54 | % | |||||||||||||||||||
Equity | 75.95 | % | |||||||||||||||||||
Fixed income | 23.51 | % | |||||||||||||||||||
Total | 100 | % | |||||||||||||||||||
The fair value of the Company’s pension plan assets at December 31, 2013 by asset category are as follows: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
(In thousands) | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Cash and cash equivalents | $ | 20 | $ | 20 | $ | — | $ | — | |||||||||||||
Mutual funds: | |||||||||||||||||||||
One year fixed income fund | 864 | 864 | — | — | |||||||||||||||||
Short-term investment grade fund | 1,079 | 1,079 | — | — | |||||||||||||||||
GNMA fund | 215 | 215 | — | — | |||||||||||||||||
Index 500 fund | 314 | 314 | — | — | |||||||||||||||||
Value index fund | 366 | 366 | — | — | |||||||||||||||||
Mid cap value index fund | 157 | 157 | — | — | |||||||||||||||||
U.S. targeted fund | 210 | 210 | — | — | |||||||||||||||||
Emerging markets core equity fund | 114 | 114 | — | — | |||||||||||||||||
Real estate securities fund | 44 | 44 | — | — | |||||||||||||||||
International value fund | 269 | 269 | — | — | |||||||||||||||||
International real estate fund | 22 | 22 | — | — | |||||||||||||||||
Total assets | $ | 3,674 | $ | 3,674 | $ | — | $ | — | |||||||||||||
The valuation used is based on quoted market prices provided by an independent third party. | |||||||||||||||||||||
The Company does not expect to contribute to the plan in 2014. |
Taxes
Taxes | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Taxes | ' | ||||||||||||||||
Note 11 – Taxes | |||||||||||||||||
Income tax expense (benefit) and the related effective income tax rates are comprised of the following items for the years ended December 31: | |||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||
Tax at statutory rates | $ | 412 | 34 | % | $ | 674 | 34 | % | |||||||||
Tax-exempt interest income | (273 | ) | (23 | %) | (273 | ) | (14 | %) | |||||||||
Life insurance income | (75 | ) | (6 | %) | (92 | ) | (5 | %) | |||||||||
Interest disallowance | 11 | 1 | % | 17 | 1 | % | |||||||||||
Low income housing credit | (123 | ) | (10 | %) | |||||||||||||
Bargain purchase gain | (214 | ) | (18 | %) | |||||||||||||
Other | 12 | 1 | % | (8 | ) | — | |||||||||||
Federal Income Taxes | ($ | 250 | ) | (21 | %) | $ | 318 | 16 | % | ||||||||
Deferred income taxes result from income and expense items which are recognized for financial statement purposes in different reporting periods than for federal income tax purposes. The current and deferred portions of applicable income taxes (benefits) for the years ended December 31 are as follows: | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Current tax | $ | 517 | $ | 424 | |||||||||||||
Deferred tax benefit | (767 | ) | (106 | ) | |||||||||||||
Applicable Federal Income Tax (Benefit) | ($ | 250 | ) | $ | 318 | ||||||||||||
The Company records deferred taxes, at the 34% tax rate, on cumulative temporary differences. Components of deferred tax assets and liabilities, included in other assets on the consolidated balance sheet, are as follows at December 31: | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Deferred tax assets: | |||||||||||||||||
Allowance for loan losses | $ | 759 | $ | 1,090 | |||||||||||||
Non-accrual loan interest | 185 | 139 | |||||||||||||||
Deferred compensation | 506 | 267 | |||||||||||||||
Purchase accounting adjustments | 787 | 72 | |||||||||||||||
Alternative minimum tax credit carryforwards | 455 | — | |||||||||||||||
OREO valuation | 149 | ||||||||||||||||
Acquisition costs Union | 288 | — | |||||||||||||||
Unfunded pension liability | 89 | — | |||||||||||||||
Low income housing credit carryforwards | 897 | — | |||||||||||||||
Net operating loss carryforwards | 641 | — | |||||||||||||||
Unrealized loss on investment securities | 280 | — | |||||||||||||||
Valuation allowance on the fair value of investment securities acquired | 123 | — | |||||||||||||||
Other | 46 | 40 | |||||||||||||||
5,205 | 1,608 | ||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||
Accumulated depreciation | (570 | ) | (324 | ) | |||||||||||||
Unrealized gain on investment securities | — | (325 | ) | ||||||||||||||
Other | — | (8 | ) | ||||||||||||||
(570 | ) | (657 | ) | ||||||||||||||
Net Deferred Tax Asset | $ | 4,635 | $ | 951 | |||||||||||||
The Company has not recorded a valuation allowance for the deferred tax assets as management believes it is more likely than not that they will be ultimately realized. | |||||||||||||||||
The Company recorded a $117,000 net gain from the sale of available-for-sale securities during 2013, which was taxed at 34%, or $40,000. This is in comparison with a $770,000 net gain from the sale of available-for-sale securities during 2012, which was taxed at 34%, or $262,000. The low income housing credits (“LIHC”) and net operating losses (“NOL”) can both be carried forward for 20 years. The LIHC credits have accumulated for 2006-2013 and will not expire until 2026-2033. The NOL has accumulated for 2010 – 2013 and will not expire until 2030-2033. | |||||||||||||||||
Uncertain Tax Positions | |||||||||||||||||
In connection with the accounting guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for certain tax positions, the Company has evaluated its tax position as of December 31, 2013. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has more than a 50 percent likelihood of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax position exists, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. As of December 31, 2013, the Company had no material unrecognized tax benefits or accrued interest and penalties. Interest and penalties associated with unrecognized tax benefits would be classified as additional income taxes in the Consolidated Statements of Income. At December 31, 2013 and 2012, there was no liability for unrecognized tax benefits. The Company and its subsidiary are subject to U.S. Federal income tax as well as income tax of the Commonwealth of Pennsylvania. | |||||||||||||||||
The Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years before 2010. |
Financial_Instruments_with_Off
Financial Instruments with Off Balance Sheet Risk | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Financial Instruments with Off Balance Sheet Risk | ' | ||||||||
Note 12 – Financial Instruments with Off Balance Sheet Risk | |||||||||
The Bank is a party to financial instruments with off balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist primarily of commitments to extend credit, typically residential mortgage loans and commercial loans and, to a lesser extent, standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the balance sheet. | |||||||||
The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making such commitments and conditional obligations as it does for on balance sheet instruments. The Bank does not anticipate any material losses from those commitments. | |||||||||
Commitments to extend credit are agreements to lend to a customer as long as there are no violations of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extensions of credit, is based on management’s credit evaluation of the customer. Collateral requirements vary but may include investments, property, plant and equipment, and income-producing commercial properties. For loans secured by real estate, the Bank generally requires loan to value ratios of no greater than 80%. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements and similar transactions. The terms of the letters of credit vary and may have renewal features. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Bank holds collateral supporting those commitments for which collateral is deemed necessary. The current amount of the liability as of December 31, 2013 for guarantees under standby letters of credit is not material. | |||||||||
The Bank’s exposure to credit loss for loan commitments (unfunded loans and unused lines of credit, including home equity lines of credit) and standby and performance letters of credit was as follows at December 31: | |||||||||
Contract or Notional Amount | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to grant loans | $ | 17,060 | $ | 13,262 | |||||
Unfunded commitments of existing loans | 26,785 | 21,396 | |||||||
Standby and performance letters of credit | 2,995 | 1,749 | |||||||
$ | 46,840 | $ | 36,407 | ||||||
Concentrations_of_Credit_Risk
Concentrations of Credit Risk | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Risks And Uncertainties [Abstract] | ' | ||||||||
Concentrations of Credit Risk | ' | ||||||||
Note 13 – Concentrations of Credit Risk | |||||||||
Substantially all of the Company’s business activity, including loans and loan commitments, is with customers located within its trade area within the counties of Berks, Cumberland, Dauphin, Northumberland, Perry and Schuylkill, Pennsylvania. A loan concentration is considered to exist when the total amount of loans to any one or multiple number of borrowers engaged in similar activities or have similar economic characteristics, exceed 10% of loans outstanding in any one category. | |||||||||
The following table presents loan concentrations as of December 31, 2013 and December 31, 2012. | |||||||||
(Dollars in thousands) | December 31, | December 31, | |||||||
2013 | 2012 | ||||||||
Loans to Lessors of: | |||||||||
Residential buildings and dwellings | $ | 45,815 | $ | 44,954 | |||||
Nonresidential buildings | 35,946 | 37,572 | |||||||
Such loans were not made to any one particular borrower or industry. However, the quality of these loans could be affected by the region’s economy and overall real estate market. Although delinquency and non-performing loans have increased nominally during the year in these portfolios, the performance and loss ratio of these portfolios continues to be acceptable. |
Regulatory_Matters_and_Shareho
Regulatory Matters and Shareholders' Equity | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Matters and Shareholders' Equity | ' | ||||||||||||||||||||||||
Note 14 – Regulatory Matters and Shareholders’ Equity | |||||||||||||||||||||||||
Certain restrictions exist regarding the ability of the Bank to transfer funds to the Company in the form of cash dividends, loans or advances. Regulatory approval is required if the total of all dividends declared by a state-chartered bank in any calendar year exceeds net profits (as defined) for that year combined with the retained net profits for the two preceding years. At December 31, 2013, $1,499,000 of undistributed earnings of the Bank, included in consolidated shareholders’ equity, was available for distribution to the Company as dividends without prior regulatory approval. | |||||||||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by the Federal Deposit Insurance Corporation (FDIC). Failure to meet the minimum regulatory capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that if undertaken, could have a direct material effect on the Company and the consolidated financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines involving quantitative measures of its assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification under the prompt corrective action guidelines are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of: total risk-based capital and Tier 1 capital to risk-weighted assets (as defined in the regulations), and Tier 1 capital to average total assets (as defined). Management believes that as of December 31, 2013, the Bank meets all the capital adequacy requirements to which it is subject. | |||||||||||||||||||||||||
As of December 31, 2013, the Bank was categorized as well capitalized under the regulatory framework for prompt corrective action. To remain categorized as well capitalized the Bank will have to maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as disclosed in the table below. There are no conditions or events since year end that management believes have changed the Bank’s category. | |||||||||||||||||||||||||
The Federal Reserve Board approved a final rule in 2006 that expands the definition of a small bank holding company (“BHC”) under the Board’s Small Bank Holding Company Policy Statement and the Board’s risk-based and leverage capital guidelines for bank holding companies. Based on the ruling, the Company meets the eligibility criteria of a small BHC and is exempt from regulatory requirements administered by the federal banking agencies. | |||||||||||||||||||||||||
The Bank’s actual capital ratios, at December 31, 2013 and 2012 and the minimum ratios required for capital adequacy purposes and to be well capitalized under the prompt corrective action provisions are summarized below. | |||||||||||||||||||||||||
Actual | For Capital | To be Well Capitalized | |||||||||||||||||||||||
Adequacy Purposes | under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||
Total risk-based capital (to risk-weighted assets) | $ | 35,504 | 11.5 | % | ³$ | 24,688 | ³8.0 | % | ³$ | 30,860 | ³10.0 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets) | 31,835 | 10.3 | ³12,344 | ³4.0 | ³18,516 | ³6.0 | |||||||||||||||||||
Tier 1 capital (to average total assets) | 31,835 | 8.2 | ³15,494 | >4.0 | ³19,368 | ³5.0 | |||||||||||||||||||
Actual | For Capital | To be Well Capitalized | |||||||||||||||||||||||
Adequacy Purposes | under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||
Total risk-based capital (to risk-weighted assets) | $ | 28,064 | 12.1 | % | ³$ | 18,537 | ³8.0 | % | ³$ | 23,171 | ³10.0 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets) | 25,157 | 10.9 | ³9,268 | ³4.0 | ³13,903 | ³6.0 | |||||||||||||||||||
Tier 1 capital (to average total assets) | 25,157 | 8.1 | >12,403 | >4.0 | ³15,503 | ³5.0 |
Fair_Value_Measurements_and_Fa
Fair Value Measurements and Fair Values of Financial Instruments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements and Fair Values of Financial Instruments | ' | ||||||||||||||||||||
Note 15 – Fair Value Measurements and Fair Values of Financial Instruments | |||||||||||||||||||||
Management uses its best judgment in estimating the fair value of the Company’s financial instruments. However, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in sales transactions on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each year-end. | |||||||||||||||||||||
The Fair Value Measurements standard establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under this standard are as follows: | |||||||||||||||||||||
Level 1: | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||||||||||||||||||||
Level 2: | Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. | ||||||||||||||||||||
Level 3: | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). | ||||||||||||||||||||
An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. At December 31, 2013 and 2012 the Company had no liabilities subject to fair value reporting requirements. | |||||||||||||||||||||
For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at December 31 are as follows: | |||||||||||||||||||||
Description | Balance | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||||||
Active Markets for | Other | Unobservable | |||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
Inputs | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
U.S. Government agency securities | $ | 1,356 | $ | — | $ | 1,356 | $ | — | |||||||||||||
State and municipal | 37,043 | — | 37,043 | — | |||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | — | — | |||||||||||||||||||
Mortgage-backed securities | 13,141 | — | 13,141 | — | |||||||||||||||||
Collateralized mortgage obligations (CMOs) | 3,330 | — | 3,330 | — | |||||||||||||||||
Corporate debt obligations | 1,851 | — | 1,851 | — | |||||||||||||||||
Equity securities, financial services | 525 | — | 525 | — | |||||||||||||||||
Securities available-for-sale | $ | 57,246 | $ | — | $ | 57,246 | $ | — | |||||||||||||
December 31, 2012: | |||||||||||||||||||||
U.S. Government agencies | $ | 3,506 | $ | — | $ | 3,506 | $ | — | |||||||||||||
State and municipal | 22,853 | — | 22,853 | — | |||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||
Mortgage-backed securities | 13,006 | — | 13,006 | — | |||||||||||||||||
Collateralized mortgage obligations CMOs | 5,736 | — | 5,736 | — | |||||||||||||||||
Securities available-for-sale | $ | 45,101 | $ | — | $ | 45,101 | $ | — | |||||||||||||
Certain financial assets are measured at fair value on a nonrecurring basis in accordance with accounting principles generally accepted in the United States of America. Adjustments to the fair value of these assets usually results from the application of lower-of-cost-or-market accounting or write-downs of individual assets. | |||||||||||||||||||||
The following describes the valuation techniques used by the Company to measure certain financial assets recorded at fair value on a nonrecurring basis in the financial statements. | |||||||||||||||||||||
Loans Held for Sale | |||||||||||||||||||||
Loans held for sale are carried at the lower of cost or fair value. These loans typically consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). As such, the Company records any fair value adjustments on a nonrecurring basis. | |||||||||||||||||||||
Other Real Estate Owned | |||||||||||||||||||||
Certain assets such as other real estate owned (OREO) are measured at fair value of real estate acquired through foreclosure at an estimated fair value less cost to sell. At or near the time of foreclosure, real estate appraisals are obtained on the properties acquired through foreclosure. The real estate is then valued at the lesser of the appraised value or the loan balance, including interest receivable, at the time of foreclosure less an estimate of costs to sell the property. Appraised values are typically determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Company using observable market data (Level 2). However, if the acquired property is a house or building in the process of construction or if an appraisal of the real estate property is over two years old, then the fair value is considered a Level 3. The estimate of costs to sell the property is based on historical transactions of similar holdings. | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
ASC 820 applies to loans measured for impairment using the practical expedients permitted by generally accepted accounting principles (GAAP), including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation which is then adjusted for the cost related to liquidation of collateral. The value of the collateral is typically determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of Riverview using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the real estate property is over two years old, then the fair value is considered Level 3. The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value of the applicable business’ financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivable collateral are based on financial statement balances or aging reports (Level 3). Impaired loans are measured at the lower of cost or fair value of the underlying collateral less estimated costs to sell on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as a provision for loan losses on the Consolidated Statements of Income. The Company had impaired loans of $12,097,000 at December 31, 2013, out of which $294,000 required a valuation allowance of $9,000. This compares with impaired loans of $8,978,000 at December 31, 2012, out of which $1,038,000 required a valuation allowance of $366,000. | |||||||||||||||||||||
Goodwill | |||||||||||||||||||||
The fair value of goodwill is determined in the same manner as goodwill recognized in a business combination and uses standard valuation methodologies. Fair value may be determined using market prices, comparison to similar assets, market multiples, discounted cash flow analysis and other factors. Estimated cash flows may extend far into the future and by their nature are difficult to determine over an extended time frame. Factors that may significantly affect the estimates include specific industry or market sector conditions, changes in revenue growth trends, customer behavior, competitive forces, cost structures and changes in discount rates. The Company did not incur goodwill impairment during the years ended December 31, 2013 or 2012. | |||||||||||||||||||||
A summary of assets at December 31, 2013 and 2012 measured at estimated fair value on a nonrecurring basis is as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | |||||||||||||||||
Gains/(Losses) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Loans held for sale | $ | — | $ | 245 | $ | — | $ | 245 | $ | — | |||||||||||
Other real estate owned | — | 1,021 | 106 | 1,127 | (580 | ) | |||||||||||||||
Impaired loans, net of related allowance | — | 285 | — | 285 | — | ||||||||||||||||
Total | $ | — | $ | 1,551 | $ | 106 | $ | 1,657 | ($ | 580 | ) | ||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | |||||||||||||||||
Gains/Losses | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Loans held for sale | $ | — | $ | 830 | $ | — | $ | 830 | $ | — | |||||||||||
Other real estate owned | — | 1,909 | — | 1,909 | (122 | ) | |||||||||||||||
Impaired loans, net of related allowance | — | 501 | 171 | 672 | — | ||||||||||||||||
Total | $ | — | $ | 3,240 | $ | 171 | $ | 3,411 | ($ | 122 | ) | ||||||||||
The following table presents additional quantitative information about assets measures at fair value on a nonrecurring basis and for which Level 3 inputs have been used to determine fair value (in thousands): | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Other real estate | $ | 106 | Appraisal of collateral (1) | Appraisal and liquidation | 0-(20)% | ||||||||||||||||
adjustments (2) | |||||||||||||||||||||
December 31, 2012 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 171 | Appraisal of collateral (1) | Appraisal and liquidation | 0-(20)% | ||||||||||||||||
adjustments (2) | |||||||||||||||||||||
(1) | Fair value is generally determined through independent appraisals of the underlying collateral. When an appraisal is older than two years, the asset is categorized as a Level 3. | ||||||||||||||||||||
(2) | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||||||
The following information should not be interpreted as an estimate of the fair value of the Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at December 31, 2013 and 2012. | |||||||||||||||||||||
Cash and cash equivalents (carried at cost): | |||||||||||||||||||||
The carrying reported in the balance sheet for cash, due from banks, federal funds sold and interest-bearing deposits approximate those assets’ fair values. | |||||||||||||||||||||
Interest-bearing time deposits with banks (carried at cost): | |||||||||||||||||||||
Fair values for fixed-rate time certificates of deposit are carried at cost. The Company generally purchases amounts below the insured limit, thus limiting the amount of credit risk on these time deposits. | |||||||||||||||||||||
Securities (carried at fair value): | |||||||||||||||||||||
The fair value of securities available-for-sale (carried at fair value) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. For certain securities which are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence (Level 3). In the absence of such evidence, management’s best estimate is used. Management’s best estimate consists of both internal and external support on certain Level 3 investments. Internal cash flow models using a present value formula that include assumptions market participants would use along with indicative exit pricing obtained from broker/dealers (where available) are used to support fair values of certain Level 3 investments, if applicable. | |||||||||||||||||||||
Mortgage loans held for sale (carried at lower of cost or fair value): | |||||||||||||||||||||
The fair value of mortgages held for sale is determined, when possible, using quoted secondary market prices. If no such quoted prices exist, the fair value of the loan is determined using quoted market prices for a similar loan or loans, adjusted for the specific attributes of that loan. | |||||||||||||||||||||
The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturities or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. | |||||||||||||||||||||
Loans (carried at cost) | |||||||||||||||||||||
The fair values of loans are estimated using discounted cash flow analysis, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturities or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. | |||||||||||||||||||||
Restricted investment in Bank stocks (carried at cost): | |||||||||||||||||||||
The carrying amount of restricted investment in Bank stock approximates fair value, and considers the limited marketability of such securities. | |||||||||||||||||||||
Accrued interest receivable and payable (carried at cost): | |||||||||||||||||||||
The carrying amount of accrued interest receivable and accrued interest payable approximates its fair value. | |||||||||||||||||||||
Deposit liabilities (carried at cost): | |||||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and noninterest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. | |||||||||||||||||||||
Short-term borrowings (carried at cost): | |||||||||||||||||||||
The carrying amounts of short-term borrowings approximate their fair values. | |||||||||||||||||||||
Long-term borrowings (carried at cost): | |||||||||||||||||||||
Fair values of FHLB advances are estimated using discounted cash flow analysis, based on quoted prices for new FHLB advances with similar credit risk characteristics, terms and remaining maturity. The prices were obtained from an active market and represent a fair value that is deemed to represent the transfer price if the liability were assumed by a third party. | |||||||||||||||||||||
Off-balance sheet financial instruments (disclosed at cost): | |||||||||||||||||||||
Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. | |||||||||||||||||||||
The estimated fair values of the Company’s financial instruments at December 31, 2013 and 2012 are presented as follows: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
(In thousands) | Carrying | Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||
Amount | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24,062 | $ | 24,062 | $ | 24,062 | $ | — | $ | — | |||||||||||
Interest-bearing time deposits | 1,244 | 1,244 | 1,244 | — | — | ||||||||||||||||
Investment securities | 57,246 | 57,246 | — | 57,246 | — | ||||||||||||||||
Mortgage loans held for sale | 245 | 245 | — | 245 | — | ||||||||||||||||
Loans, net | 319,674 | 322,452 | — | — | 322,452 | ||||||||||||||||
Accrued interest receivable | 1,380 | 1,380 | 1,380 | — | — | ||||||||||||||||
Restricted investments in bank stocks | 1,030 | 1,030 | — | — | 1,030 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 382,345 | 368,560 | — | 368,560 | — | ||||||||||||||||
Long-term borrowings | 10,000 | 10,340 | — | 10,340 | — | ||||||||||||||||
Accrued interest payable | 197 | 197 | 197 | — | — | ||||||||||||||||
Off balance sheet financial instruments | — | — | — | — | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||||
(In thousands) | Carrying | Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||
Amount | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 15,952 | $ | 15,952 | $ | 15,952 | $ | — | $ | — | |||||||||||
Interest-bearing time deposits | 250 | 250 | 250 | — | — | ||||||||||||||||
Investment securities | 45,101 | 45,101 | — | 45,101 | — | ||||||||||||||||
Mortgage loans held for sale | 830 | 830 | — | 830 | — | ||||||||||||||||
Loans, net | 234,112 | 237,376 | — | — | 237,376 | ||||||||||||||||
Accrued interest receivable | 1,014 | 1,014 | 1,014 | — | — | ||||||||||||||||
Restricted investments in bank stocks | 1,429 | 1,429 | — | — | 1,429 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 269,445 | 272,079 | — | 272,079 | — | ||||||||||||||||
Short-term borrowings | 11,000 | 10,998 | — | 10,998 | — | ||||||||||||||||
Long-term borrowings | 9,550 | 10,138 | — | 10,138 | — | ||||||||||||||||
Accrued interest payable | 177 | 177 | 177 | — | — | ||||||||||||||||
Off balance sheet financial instruments | — | — | — | — | — |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 16 – Commitments and Contingencies | |
The Company may be subject to numerous claims and lawsuits which arise primarily in the normal course of business. At December 31, 2013, there were no such claims or lawsuits which, in the opinion of management, would have a materially adverse effect on the financial position or results of operations of the Company. |
Riverview_Financial_Corporatio
Riverview Financial Corporation (Parent Company Only) Financial Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Riverview Financial Corporation (Parent Company Only) Financial Information | ' | ||||||||
Note 17 – Riverview Financial Corporation (Parent Company Only) Financial Information | |||||||||
Balance Sheets | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Assets | |||||||||
Cash and cash equivalents | $ | 3,202 | $ | 43 | |||||
Investment in bank subsidiary | 37,959 | 28,617 | |||||||
Real estate, net | 73 | 73 | |||||||
Other assets | 3 | 5 | |||||||
$ | 41,237 | $ | 28,738 | ||||||
Liabilities and Shareholders’ Equity | |||||||||
Long-term borrowings | $ | 5,000 | $ | 2,001 | |||||
Other liabilities | 9 | — | |||||||
Total Liabilities | 5,009 | 2,001 | |||||||
Shareholders’ equity | 36,228 | 26,737 | |||||||
$ | 41,237 | $ | 28,738 | ||||||
Statements of Income | |||||||||
Years Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Income, dividends from bank subsidiary | $ | 1,228 | $ | 1,020 | |||||
Interest expense | 119 | 83 | |||||||
Income Before Equity in Undistributed (Distributions in Excess of) Net Income of Subsidiary | 1,109 | 937 | |||||||
Undistributed net income of subsidiary | 354 | 726 | |||||||
Net Income | $ | 1,463 | $ | 1,663 | |||||
Total Comprehensive Income | $ | 296 | $ | 1,289 | |||||
Statements of Cash Flows | |||||||||
Years Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Cash Flows from Operating Activities | |||||||||
Net income | $ | 1,463 | $ | 1,663 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Option expense | 160 | 44 | |||||||
Loan origination fee | — | (5 | ) | ||||||
Undistributed net income of subsidiary | (354 | ) | (726 | ) | |||||
Decrease in accrued interest receivable and other assets | 2 | ||||||||
Increase in accrued interest payable and other liabilities | 7 | ||||||||
Net Cash Provided by Operating Activities | 1,278 | 976 | |||||||
Cash Flows from Investing Activities | |||||||||
Capitalization of subsidiary | — | (500 | ) | ||||||
Net Cash Used in Investing Activities | — | (500 | ) | ||||||
Cash Flows from Financing Activities | |||||||||
Proceeds from long-term debt | 2,999 | 500 | |||||||
Dividends paid | (1,118 | ) | (936 | ) | |||||
Purchase of treasury stock | — | (65 | ) | ||||||
Net Cash Provided by (Used in) Financing Activities | 1,881 | (501 | ) | ||||||
Increase (Decrease) in Cash and Cash Equivalents | 3,159 | (25 | ) | ||||||
Cash and Cash Equivalents – Beginning | 43 | 68 | |||||||
Cash and Cash Equivalents – Ending | $ | 3,202 | $ | 43 | |||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 18 – Subsequent Events | |
Generally accepted accounting principles establish general standards for accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued. In preparing these consolidated financial statements, Riverview evaluated the events and transactions that occurred from the date of the financial statements through March 31, 2014, the date these consolidated financial statements were issued, and has not identified any event that requires recognition or disclosure in the consolidated financial statements, except for the fact that the Corporation filed a Form 15 – Certification and Notice of Termination of Registration (Registration No. 333-188193) on January 3, 2014. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Nature of Operations | ' | ||||||||||||
Nature of Operations | |||||||||||||
On November 1, 2013, Riverview Financial Corporation (“Riverview”) and Union Bancorp, Inc. (“Union”) consolidated to form a new Pennsylvania corporation under the name of Riverview Financial Corporation (the “Company”). The Company and its wholly-owned bank subsidiary, Riverview Bank (the “Bank”), provide loan, deposit and a full range of banking services to individuals, businesses and municipalities through two full service offices in Marysville and Duncannon, Perry County, Pennsylvania, one full service office in Enola, Cumberland County, Pennsylvania, six full service offices in Tower City, Cressona, Pottsville and Orwigsburg, Schuylkill County, Pennsylvania, three full service and one drive-up office in Halifax, Millersburg and Elizabethville, Dauphin County, Pennsylvania and one commercial office in Wyomissing, Berks County, Pennsylvania. Effective December 27, 2012, Riverview Bank purchased a wealth management company located in Orwigsburg, Schuylkill County, Pennsylvania that provides financial advisory, insurance, trust and investment services relating to non-deposit type investment products. The wealth management company is a division of the Bank. Riverview Bank competes with several other financial institutions within its geographic footprint to provide its services to individuals, businesses, municipalities and other organizations. | |||||||||||||
The Bank is a Pennsylvania chartered state bank. The Company and the Bank are subject to regulations of certain state and federal agencies. These regulatory agencies periodically examine the Company and the Bank for adherence to laws and regulations. | |||||||||||||
The accounting and reporting policies followed by the Company conform to generally accepted accounting principles and to general practices within the banking industry. The following paragraphs briefly describe the more significant accounting policies. | |||||||||||||
Principles of Consolidation and Basis of Accounting | ' | ||||||||||||
Principles of Consolidation and Basis of Accounting | |||||||||||||
The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the Bank and its operating divisions, Marysville Bank, Halifax Bank and Riverview Financial Wealth Management. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company uses the accrual basis of accounting. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and predominant practices within the banking industry. The preparation of these consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The Company evaluates estimates on an ongoing basis. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the potential impairment of goodwill, the valuation of deferred tax assets, the determination of other-than-temporary impairment on securities and the valuation of real estate acquired by foreclosure or in satisfaction of loans. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans and foreclosed real estate, management obtains independent appraisals for significant collateral. | |||||||||||||
While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
For purposes of the statements of cash flows, cash and cash equivalents consist of cash and due from banks, federal funds sold and interest-bearing deposits in the Federal Reserve Bank and other banks. Generally, federal funds are purchased and sold for one day periods. | |||||||||||||
Investment Securities | ' | ||||||||||||
Investment Securities | |||||||||||||
Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates the classifications as of each balance sheet date. At December 31, 2013 and 2012, all of the Company’s investment securities were classified as available-for-sale. | |||||||||||||
Investment securities available-for-sale are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including movements in interest rates, changes in the maturity mix of the Company’s assets and liabilities, liquidity needs, credit risk, regulatory considerations and other similar factors. Investment securities available-for-sale are reported at estimated fair value. Unrealized gains and losses are excluded from earnings but are reported as a separate component of stockholders’ equity, net of deferred taxes. Any realized gains or losses, based on the amortized cost of specific securities sold, are included in current operations. | |||||||||||||
The estimated fair values of the Company’s securities are affected by changes in interest rates and credit spreads. Riverview conducts a periodic review and evaluation of the securities portfolio to determine if any declines in fair values of securities are other-than-temporary. To determine if a decline in value is other-than-temporary, the Company evaluates if it has the intent to sell these securities or if it is more likely than not that it would be required to sell the securities before the anticipated recovery. If such a decline were deemed to be other-than-temporary, the Company would measure the total credit-related component of the unrealized loss, and recognize that portion of the loss as a charge to current period earnings. The remaining portion of the unrealized loss would be recognized as an adjustment to accumulated other comprehensive income. In general, as interest rates rise, the market value of the fixed-rate securities decreases and as interest rates fall, the market value of fixed-rate securities increases. To determine if a decline in value is other-than-temporary, the Company evaluates if it has the intent to sell these securities or if it is more likely than not that it would be required to sell the securities before the anticipated recovery. | |||||||||||||
Management utilizes criteria such as the magnitude and duration of the decline, in addition to the reasons underlying the decline, to determine whether the loss in value is other-than-temporary. The term “other-than-temporary” is not intended to indicate that the decline in value is permanent, but indicates that the prospects for a near-term recovery of value are not necessarily favorable, or that there is a lack of evidence to support realizable value equal to or greater than the carrying value of the investment. | |||||||||||||
Premiums and discounts on securities are amortized and accreted to income using a method that approximates the interest method over the remaining period of contractual maturity, adjusted for anticipated prepayments. Dividend and interest income are recognized when earned. | |||||||||||||
Mortgage Loans Held for Sale | ' | ||||||||||||
Mortgage Loans Held for Sale | |||||||||||||
Mortgage loans originated and held for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. The Bank entered into an agreement with the Federal Home Loan Mortgage Corporation (“Freddie Mac”) in 2009 to sell loans servicing released. This was in addition to the agreement that the Bank entered into in 2008 to sell loans servicing released under the Federal Home Loan Bank of Pittsburgh’s (“FHLB”) Mortgage Partnership Finance program (“MPF”). Premiums and discounts and origination fees and costs on loans held for sale are deferred and recognized as a component of the gain or loss on sale. Residential loan sales under the Freddie Mac and MPF programs have been made without recourse. Both programs require details of the residential loan in advance of the sale and both have the ability to perform post-closing quality control reviews. If the results of these reviews discover any documentation errors, Freddie Mac and MPF can require the Bank to repurchase the loan. | |||||||||||||
Loans | ' | ||||||||||||
Loans | |||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at the principal amount outstanding, net of unearned income, deferred loan fees, and the allowance for loan losses. Interest is accrued on the principal balances outstanding and is credited to income as earned. Loan fees collected net of the costs of originating the loans are deferred and recognized as an adjustment to the yield over the contractual life of the related loan. | |||||||||||||
The accrual of interest on loans in all loan segments (nonaccrual loans) is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is well secured and in the process of collection. When a loan is placed on nonaccrual status, all unpaid interest credited to income in the current calendar year is reversed and all unpaid interest accrued in prior calendar years is charged against the allowance for loan losses. Interest payments received on nonaccrual loans are either applied against principal or reported as interest income according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time and the ultimate collectability of the total contractual principal and interest is no longer in doubt. | |||||||||||||
An impaired loan is defined as a loan for which it is probable, based on current information, that the lender will not collect all amounts due under the contractual terms of the loan agreement. Impaired loans are individually assessed to determine that each loan’s carrying value is not in excess of the fair value of the related collateral or the present value of the expected future cash flows. | |||||||||||||
Allowance for Loan Losses | ' | ||||||||||||
Allowance for Loan Losses | |||||||||||||
The Bank maintains an allowance for loan losses, which is intended to absorb probable known and inherent losses in the outstanding loan portfolio. The allowance for loan losses is reduced by actual credit losses and is increased by the provision for loan losses and recoveries of previous losses. The provisions for loan losses are charged to earnings to bring the total allowance for loan losses to a level considered necessary and adequate by management. | |||||||||||||
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loan portfolio in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |||||||||||||
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as substandard or doubtful and deemed to be impaired. For such loans, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. Management determines the unallocated portion, which represents the difference between the reported allowance for loan losses and the calculated allowance for loan losses, based generally on the following criteria: | |||||||||||||
• | risk of imprecision in the specific and general reserve allocations; | ||||||||||||
• | other potential exposure in the loan portfolio, including covering the risks in the growing book of loans in the Schuylkill and Berks County regions; | ||||||||||||
• | variances in management’s assessment of national and local economic conditions; and | ||||||||||||
• | other internal or external factors that management believes are appropriate at the time. | ||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |||||||||||||
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bank does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are the subject of a restructuring agreement. | |||||||||||||
In determining the allowance for loan losses, the Bank identifies separate pools with higher loss factors to segregate unimpaired criticized and classified loans from all other unimpaired loans. This more clearly details the risk inherent in the portfolio by refining the pools of assets with similar characteristics. | |||||||||||||
Premises and Equipment | ' | ||||||||||||
Premises and Equipment | |||||||||||||
Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are calculated principally using the straight-line method for financial reporting and the straight-line and accelerated methods for income tax purposes. When property is retired or disposed, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in operations. Major additions or replacements are capitalized, while repairs and maintenance are charged to expense as incurred. Interest costs incurred during construction of bank premises are capitalized unless they are determined to be insignificant. | |||||||||||||
Accrued Interest | ' | ||||||||||||
Accrued Interest | |||||||||||||
Accrued interest is interest that has accumulated over a period of time and has been recognized even though the obligation to receive or pay has not occurred. Accrued interest can either be income, such as the receipt of interest from loans or securities, or it can be an expense, such as the payment of interest on deposits and borrowings. | |||||||||||||
Restricted Investments in Bank Stocks | ' | ||||||||||||
Restricted Investments in Bank Stocks | |||||||||||||
Restricted bank stock represents required investments in the common stock of correspondent banks consisting of the Federal Home Loan Bank of Pittsburgh (FHLB) and Atlantic Central Bankers Bank at December 31, 2013 and 2012. Since these stocks are not actively traded and therefore have no readily determinable market value, they are carried at cost. | |||||||||||||
Management evaluates restricted stock for impairment in accordance with the accounting standard relating to Accounting by Certain Entities (Including Entities With Trade Receivables) That Lend to or Finance the Activities of Others. Management’s determination of whether these investments are impaired is based on its assessment of the ultimate recoverability of the cost rather than by recognizing temporary declines in value. | |||||||||||||
Management believes no impairment charge is necessary related to the restricted stock as of December 31, 2013. | |||||||||||||
Transfers of Financial Assets | ' | ||||||||||||
Transfers of Financial Assets | |||||||||||||
Transfers of financial assets, including loans and loan participation sales, are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |||||||||||||
Cash Value of Life Insurance | ' | ||||||||||||
Cash Value of Life Insurance | |||||||||||||
The Bank invests in bank owned life insurance (“BOLI”) as a source of funding employee benefit expenses. BOLI involves the purchase of life insurance by the Bank on a chosen group of directors and select management of the Bank. The Bank is the owner and beneficiary of the policies. The life insurance investment is carried at the cash surrender value of the underlying policies. These amounts are immediately available to the Bank upon surrender of the policies. Income generated from the increase in the cash surrender value of the policies is included in other income on the income statement. | |||||||||||||
Foreclosed Assets | ' | ||||||||||||
Foreclosed Assets | |||||||||||||
Real estate and other foreclosed assets acquired in settlement of loans are recorded at fair value less costs to sell at the date of acquisition, establishing a new cost basis. Subsequent to acquisition, foreclosed assets are carried at the lower of cost or estimated fair value of the property less selling costs. Any write-down, at or prior to the dates the assets are foreclosed, is charged to the allowance for loan losses. Subsequent write-downs and any gains or losses resulting from the sale of foreclosed assets are recorded in other income. Expenses incurred in connection with holding such assets are reported in other expenses. | |||||||||||||
Goodwill | ' | ||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the tangible and identifiable intangible assets acquired. Under generally accepted accounting principles, business acquisition goodwill is not amortized into the income statement over an estimated life, but rather is tested at least annually for impairment. Based upon the goodwill analysis performed by an independent third party, there was no goodwill impairment for the 2013 year end. | |||||||||||||
Intangible Assets | ' | ||||||||||||
Intangible Assets | |||||||||||||
Intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights. The Bank’s intangible assets consist of core deposit intangibles, which have a finite life and are amortized over their estimated useful life. Mortgage servicing rights are included in intangible assets where the Bank recognized a servicing fee at the time of the sale for the right to service mortgages and other loans sold. The servicing asset is amortized as an expense over the life of the loan for which the Bank retains the servicing rights. A customer list intangible is also included in intangible assets as a result of the purchase of the wealth management company. This intangible is amortized as an expense over ten years using the sum of the years’ amortization method. Intangible assets are also subject to impairment testing when an indication of impairment exists. | |||||||||||||
Federal Income Taxes | ' | ||||||||||||
Federal Income Taxes | |||||||||||||
The provision for income taxes is based on income as reported in the financial statements. Certain items of income and expense are recognized in different periods for financial reporting purposes than for federal income tax purposes. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is determined based on the tax effects of the temporary differences between book and tax basis of the various balance sheet assets and liabilities given current recognition to changes in tax rates and laws. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for applicable income taxes. | |||||||||||||
Treasury Stock | ' | ||||||||||||
Treasury Stock | |||||||||||||
Repurchases of common stock are recorded as treasury stock at cost. | |||||||||||||
Advertising | ' | ||||||||||||
Advertising | |||||||||||||
Advertising costs are expensed as incurred and totaled $72,000 and $92,000 for the years ending December 31, 2013 and 2012, respectively. | |||||||||||||
Earnings Per Common Share | ' | ||||||||||||
Earnings Per Common Share | |||||||||||||
Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. For diluted earnings per share, net income is divided by the weighted average number of shares outstanding plus the incremental number of shares added as a result of converting common stock equivalents. The Company’s common stock equivalents consist of outstanding common stock options, which amounted to 179,250 options as of the 2013 and 2012 year ends. At December 31, 2013, there was no intrinsic value associated with any of the options that were outstanding. There was intrinsic value associated with 15,000 stock options out of the 179,250 total outstanding stock options at December 31, 2012 because the exercise price for these particular options was lower than the trading price of the stock. | |||||||||||||
The following table presents the amounts used in computing earnings per share for the years ended December 31, 2013 and 2012. | |||||||||||||
Income | Common Shares | EPS | |||||||||||
Numerator | Denominator | ||||||||||||
(In thousands, except share data) | |||||||||||||
2013:00:00 | |||||||||||||
Basic EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
Dilutive effect of potential common stock options | — | — | — | ||||||||||
Diluted EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
2012:00:00 | |||||||||||||
Basic EPS | $ | 1,663 | 1,719,498 | $ | 0.97 | ||||||||
Dilutive effect of potential common stock options | — | 3,616 | — | ||||||||||
Diluted EPS | $ | 1,663 | 1,723,114 | $ | 0.97 | ||||||||
Off Balance Sheet Financial Instruments | ' | ||||||||||||
Off Balance Sheet Financial Instruments | |||||||||||||
In the ordinary course of business, the Company has entered into off balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. | |||||||||||||
Segment Reporting | ' | ||||||||||||
Segment Reporting | |||||||||||||
The Company operates in a single business segment consisting of traditional banking activities. | |||||||||||||
Comprehensive Income | ' | ||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income is divided into net income and other comprehensive income. The components of the Company’s other comprehensive income are unrealized gains and losses on securities available for sale and losses associated with the defined benefit postretirement plan. Comprehensive income is presented in the Statements of Comprehensive Income. | |||||||||||||
The components of other comprehensive income and the related tax effects are presented in the following table at December 31: | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Unrealized gains (losses) on securities available for sale (net of tax of $280 and $326) | ($ | 544 | ) | $ | 632 | ||||||||
Unrealized pension cost (net of related taxes of $5 and $0) | 9 | — | |||||||||||
Total accumulated other comprehensive income | ($ | 535 | ) | $ | 632 | ||||||||
Reclassifications | ' | ||||||||||||
Reclassifications | |||||||||||||
For purposes of comparability, certain prior period amounts may have been reclassified to conform with the 2013 presentation. Such reclassifications had no impact on net income. | |||||||||||||
New Accounting Standards | ' | ||||||||||||
New Accounting Standards | |||||||||||||
The Financial Accounting Standards Board (“FASB”) in January 2013 issued Accounting Standards Update (“ASU”) No. 2013-01, “Disclosures About Offsetting Assets and Liabilities”, which clarifies the scope of the new offsetting disclosure requirements under ASU No. 2013-01. It is limited to (1) derivatives, (2) repurchase and reverse repurchase agreements, and (3) securities borrowing and lending transactions, that are either: offset in the statement of financial position in accordance with ASC 10, “Balance Sheet Presentment”, or ASC 815, “Derivatives and Hedging”, or subject to an enforceable master netting arrangement or similar agreement regardless of whether they are presented net in the financial statements. This ASU is effective for annual and interim reporting periods beginning on or after January 1, 2013. This guidance did not have a significant impact on the Company’s consolidated financial statements. | |||||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income”, which requires disclosure of the effects of reclassifications out of accumulated other comprehensive income (“AOCI”) or net income line items only for those items that are reported in their entirety in net income in the period of reclassification. For AOCI reclassification items that are not reclassified in their entirety into net income, entities would then cross reference to the related note to the financial statements for additional information. The Company adopted the provisions of ASU No. 2013-2 effective January 1, 2013. Since the Company’s only AOCI items consist of unrealized gains or losses on securities available for sale and changes in the defined pension benefit plan, the adoption of this standard had minimal impact on the Company’s consolidated financial statements. | |||||||||||||
In January 2014, FASB issued ASU 2014-01, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects”. ASU 2014-01 permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in ASU 2014-01 should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those pre-existing investments. ASU 2014-01 is effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||
Issued in January 2014, ASU 2014-04, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)” clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loans, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or 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. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014, and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The adoption of ASU 2014-04 will be a change in presentation only for the newly required disclosures and is not expected to have a significant impact to the Company’s consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Computation of Earnings per Share | ' | ||||||||||||
The following table presents the amounts used in computing earnings per share for the years ended December 31, 2013 and 2012. | |||||||||||||
Income | Common Shares | EPS | |||||||||||
Numerator | Denominator | ||||||||||||
(In thousands, except share data) | |||||||||||||
2013:00:00 | |||||||||||||
Basic EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
Dilutive effect of potential common stock options | — | — | — | ||||||||||
Diluted EPS | $ | 1,463 | 1,881,354 | $ | 0.78 | ||||||||
2012:00:00 | |||||||||||||
Basic EPS | $ | 1,663 | 1,719,498 | $ | 0.97 | ||||||||
Dilutive effect of potential common stock options | — | 3,616 | — | ||||||||||
Diluted EPS | $ | 1,663 | 1,723,114 | $ | 0.97 | ||||||||
Components of Other Comprehensive Income and Related Tax Effects | ' | ||||||||||||
The components of other comprehensive income and the related tax effects are presented in the following table at December 31: | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Unrealized gains (losses) on securities available for sale (net of tax of $280 and $326) | ($ | 544 | ) | $ | 632 | ||||||||
Unrealized pension cost (net of related taxes of $5 and $0) | 9 | — | |||||||||||
Total accumulated other comprehensive income | ($ | 535 | ) | $ | 632 | ||||||||
Business_Combination_Tables
Business Combination (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the fair values of the assets acquired and the liabilities assumed as of the effective date of the consolidation. This transaction was accounted for using the purchase method of accounting in accordance with ASC 805, Business Combinations. Accordingly the purchase price was allocated to the respective assets acquired and liabilities assumed based upon their estimated fair values as of the effective date of the consolidation. | |||||||||
Acquired on | |||||||||
November 1, 2013 | |||||||||
(In thousands) | |||||||||
Assets: | |||||||||
Cash and cash equivalents | $ | 15,580 | |||||||
Investment securities | 29,211 | ||||||||
Net loans | 75,351 | ||||||||
Bank premises and equipment | 1,660 | ||||||||
Other assets | 5,941 | ||||||||
Total assets | $ | 127,743 | |||||||
Liabilities: | |||||||||
Noninterest-bearing deposits | $ | 26,687 | |||||||
Interest-bearing deposits | 88,290 | ||||||||
Other liabilities | 1,984 | ||||||||
Total liabilities | 116,961 | ||||||||
Net assets acquired | $ | 10,782 | |||||||
Schedule of Calculation of Goodwill | ' | ||||||||
The following table provides the calculation of the goodwill (dollars in thousands, except per share data): | |||||||||
Purchase Price: | |||||||||
Union common shares outstanding | 506,513 | ||||||||
Exchange ratio | 1.95 | ||||||||
Riverview common stock issued | 987,524 | ||||||||
Fair market value of Riverview common share | $ | 10.28 | |||||||
Purchase price assigned to shares exchanged for stock | $ | 10, 152 | |||||||
Union fractional shares exchanged for cash | 176 | ||||||||
Purchase price paid to each Union common share exchanged for cash | $ | 10.75 | |||||||
Purchase price assigned to each Union common share exchanged for cash | 1 | ||||||||
Total Purchase Price | 10,153 | ||||||||
Net Assets Acquired: | |||||||||
Union common shareholders’ equity | 9,610 | ||||||||
Increase (decrease) to reflect assets acquired at fair value: | |||||||||
Loans: | |||||||||
Interest rate fair value | 268 | ||||||||
General credit fair value mark | (795 | ) | |||||||
Specific credit fair value mark | (1,705 | ) | |||||||
Allowance for loan losses | 1,427 | ||||||||
Core deposit intangible | 1,264 | ||||||||
Premises and equipment | 519 | ||||||||
Reversal of old purchase account marks and deferred fees/costs | (142 | ) | |||||||
Miscellaneous assets and liabilities | (780 | ) | |||||||
Deferred tax asset | 1,495 | ||||||||
Decrease to reflect liabilities acquired at fair value: | |||||||||
Time deposits | (379 | ) | |||||||
Net assets acquired | 10,782 | ||||||||
Bargain purchase price gain resulting from consolidation | $ | 629 | |||||||
Pro Forma Consolidated Results of Operations of Company | ' | ||||||||
The proforma earnings per share were calculated using the Company’s actual weighted average shares outstanding for the periods presented. | |||||||||
2013 | 2012 | ||||||||
(In thousands, except per share data) | |||||||||
Total revenues, net of interest expense | $ | 14,731 | $ | 13,920 | |||||
Net income | 1,910 | 1,636 | |||||||
Basic and dilutive earnings per share | $ | 1.02 | $ | 0.61 | |||||
Investment_Securities_Availabl1
Investment Securities Available-for-Sale (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Summary of Amortized Cost and Estimated Fair Values of Investment Securities Available-for-Sale | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities available-for-sale are reflected in the following schedules at December 31, 2013 and 2012: | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agency securities | $ | 1,405 | $ | — | $ | 49 | $ | 1,356 | |||||||||||||||||
State and municipal | 37,686 | 176 | 819 | 37,043 | |||||||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||||||
Mortgage-backed securities | 13,226 | 43 | 128 | 13,141 | |||||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 3,387 | 8 | 65 | 3.33 | |||||||||||||||||||||
Corporate debt obligations | 1,852 | 1 | 2 | 1,851 | |||||||||||||||||||||
Equity securities, financial services | 512 | 15 | 2 | 525 | |||||||||||||||||||||
$ | 58,068 | $ | 243 | $ | 1,065 | $ | 57,246 | ||||||||||||||||||
2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. Government agencies | $ | 3,500 | $ | 6 | $ | — | $ | 3,506 | |||||||||||||||||
State and municipal | 22,252 | 665 | 64 | 22,853 | |||||||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||||||
Mortgage-backed securities | 12,837 | 169 | — | 13,006 | |||||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 5,555 | 181 | — | 5,736 | |||||||||||||||||||||
$ | 44,144 | $ | 1,021 | $ | 64 | $ | 45,101 | ||||||||||||||||||
Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale, by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and fair value of debt securities available-for-sale at December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to prepay obligations with or without call or prepayment penalties: | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | |||||||||||||||||||||
Due after one year through five years | 6,863 | 6,859 | |||||||||||||||||||||||
Due after five years through ten years | 12,095 | 12,105 | |||||||||||||||||||||||
Due after ten years | 21,985 | 21,286 | |||||||||||||||||||||||
40,943 | 40,250 | ||||||||||||||||||||||||
Mortgage-backed securities | 13,226 | 13,141 | |||||||||||||||||||||||
CMOs | 3,387 | 3,330 | |||||||||||||||||||||||
Equity securities, financial services | 512 | 525 | |||||||||||||||||||||||
17,125 | 16,996 | ||||||||||||||||||||||||
$ | 58,068 | $ | 57,246 | ||||||||||||||||||||||
Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time | ' | ||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses at December 31, 2013 and 2012 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: | |||||||||||||||||||||||||
Less Than 12 Months | More Than 12 Months | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Government agency securities | $ | 1,241 | $ | 49 | $ | — | $ | — | $ | 1,241 | $ | 49 | |||||||||||||
State and municipal | 22,098 | 729 | 1,862 | 90 | 23,960 | 819 | |||||||||||||||||||
Mortgage-backed securities | 7,441 | 128 | — | — | 7,441 | 128 | |||||||||||||||||||
Collateralized mortgage obligations (CMOs) | 2,618 | 65 | — | — | 2,618 | 65 | |||||||||||||||||||
Corporate debt obligations | 1,362 | 2 | — | — | 1,362 | 2 | |||||||||||||||||||
Equity securities, financial services | 39 | 2 | — | — | 39 | 2 | |||||||||||||||||||
$ | 34,799 | $ | 975 | $ | 1,862 | $ | 90 | $ | 36,661 | $ | 1,065 | ||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
State and municipal | $ | 5,053 | $ | 64 | $ | — | $ | — | $ | 5,053 | $ | 64 | |||||||||||||
$ | 5,053 | $ | 64 | $ | — | $ | — | $ | 5,053 | $ | 64 | ||||||||||||||
Loans_Receivable_Credit_Qualit1
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Summary of Related Party Loans Activity | ' | ||||||||||||||||||||||||||||||||||||||||
Activity for these related party loans was as follows for the year ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Balance – January 1 | $ | 4,659 | |||||||||||||||||||||||||||||||||||||||
Advances | 1,504 | ||||||||||||||||||||||||||||||||||||||||
Loans of new directors | 1,000 | ||||||||||||||||||||||||||||||||||||||||
Payments | (1,965 | ) | |||||||||||||||||||||||||||||||||||||||
Balance – December 31 | $ | 5,198 | |||||||||||||||||||||||||||||||||||||||
Summary of Aging of Loans Receivable by Loan Portfolio Segments | ' | ||||||||||||||||||||||||||||||||||||||||
The following table presents an aging of loans receivable by loan portfolio segments as of December 31, 2013 and December 31, 2012, and includes nonaccrual loans and loans past due 90 days or more and still accruing: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days | 60-89 Days | 90 Days and | Total | Current | Total | Recorded | ||||||||||||||||||||||||||||||||||
Past Due | Past Due | Greater | Past Due | Investment | |||||||||||||||||||||||||||||||||||||
Greater Than | |||||||||||||||||||||||||||||||||||||||||
90 Days & | |||||||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 218 | $ | 17 | $ | 449 | $ | 684 | $ | 36,569 | $ | 37,253 | $ | 298 | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 62 | 0 | 3,990 | 4,052 | 73,765 | 77,817 | 0 | ||||||||||||||||||||||||||||||||||
Owner occupied | 996 | 15 | 540 | 1,551 | 66,849 | 68,400 | 156 | ||||||||||||||||||||||||||||||||||
1-4 family investment | 139 | 92 | 458 | 689 | 25,512 | 26,201 | 458 | ||||||||||||||||||||||||||||||||||
Commercial land and land development | 80 | 0 | 215 | 295 | 12,299 | 12,594 | 0 | ||||||||||||||||||||||||||||||||||
Residential real estate | 1,627 | 593 | 1,334 | 3,554 | 77,568 | 81,122 | 193 | ||||||||||||||||||||||||||||||||||
Home equity lines of credit | 163 | 0 | 448 | 611 | 16,920 | 17,531 | 40 | ||||||||||||||||||||||||||||||||||
Consumer | 20 | 0 | 0 | 20 | 2,399 | 2,419 | 0 | ||||||||||||||||||||||||||||||||||
Total | $ | 3,305 | $ | 717 | $ | 7,434 | $ | 11,456 | $ | 311,881 | $ | 323,337 | $ | 1,145 | |||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 58 | $ | — | $ | — | $ | 58 | $ | 23,365 | $ | 23,423 | $ | — | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | 386 | 386 | 66,308 | 66,694 | — | ||||||||||||||||||||||||||||||||||
Owner occupied | 237 | — | 119 | 356 | 50,270 | 50,626 | — | ||||||||||||||||||||||||||||||||||
1-4 family investment | 99 | 83 | 306 | 488 | 27,397 | 27,885 | — | ||||||||||||||||||||||||||||||||||
Commercial land and land development | 16 | — | — | 16 | 12,607 | 12,623 | — | ||||||||||||||||||||||||||||||||||
Residential real estate | 730 | 926 | 1,404 | 3,060 | 38,427 | 41,487 | 231 | ||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | 479 | 479 | 12,333 | 12,812 | — | ||||||||||||||||||||||||||||||||||
Consumer | 58 | 1 | — | 59 | 2,239 | 2,298 | — | ||||||||||||||||||||||||||||||||||
Total | $ | 1,198 | $ | 1,010 | $ | 2,694 | $ | 4,902 | $ | 232,946 | $ | 237,848 | $ | 231 | |||||||||||||||||||||||||||
Schedule of Loans by Loan Portfolio Segments on Nonaccrual Status | ' | ||||||||||||||||||||||||||||||||||||||||
The following presents loans by loan portfolio segments that were on a nonaccrual status as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | December 31, | December 31, | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 324 | $ | 190 | |||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,990 | 1,159 | |||||||||||||||||||||||||||||||||||||||
Owner occupied | 674 | 399 | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | 168 | 389 | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | 1,167 | 1,173 | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 475 | 553 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 7,013 | $ | 3,863 | |||||||||||||||||||||||||||||||||||||
Schedule of Impaired Loans by Loan Portfolio Segments | ' | ||||||||||||||||||||||||||||||||||||||||
The following presents impaired loans by loan portfolio segments as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||
Investment in | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||
Impaired | Balance of | Investment in | Recognized | ||||||||||||||||||||||||||||||||||||||
Loans | Impaired Loans | Impaired Loans | |||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 857 | $ | 857 | $ | — | $ | 870 | $ | 40 | |||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 5,895 | 5,895 | — | 6,489 | 70 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 1,172 | 1,172 | — | 1,571 | 34 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,076 | 1,076 | — | 1,097 | 33 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | 215 | — | 218 | 8 | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,816 | 1,816 | — | 2,016 | 37 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 772 | 772 | — | 790 | 11 | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 166 | 166 | 1 | 188 | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 128 | 128 | 8 | 129 | 8 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||
Commercial | 1,023 | 1,023 | 1 | 1,058 | 40 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 5,895 | 5,895 | — | 6,489 | 70 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 1,172 | 1,172 | — | 1,571 | 34 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,076 | 1,076 | — | 1,097 | 33 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | 215 | 215 | — | 218 | 8 | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,944 | 1,944 | 8 | 2,145 | 45 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 772 | 772 | — | 790 | 11 | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
$ | 12,097 | 12,097 | $ | 9 | $ | 13,368 | $ | 241 | |||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 731 | $ | 731 | — | $ | 747 | $ | 34 | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,082 | 3,082 | — | 3,441 | 61 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 991 | 991 | — | 1,059 | 36 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,073 | 1,073 | — | 1,084 | 35 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,207 | 1,207 | — | 1,244 | 19 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 853 | 853 | — | 865 | 12 | ||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | — | 6 | — | ||||||||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 177 | 177 | 2 | 191 | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 343 | 343 | 148 | 350 | 9 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 518 | 518 | 216 | 541 | 11 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||
Commercial | 908 | 908 | 2 | 938 | 34 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | 3,082 | 3,082 | — | 3,441 | 61 | ||||||||||||||||||||||||||||||||||||
Owner occupied | 991 | 991 | — | 1,059 | 36 | ||||||||||||||||||||||||||||||||||||
1-4 family investment | 1,416 | 1,416 | 148 | 1,434 | 44 | ||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Residential real estate | 1,725 | 1,725 | 216 | 1,785 | 30 | ||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 853 | 853 | — | 865 | 12 | ||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | — | 6 | — | ||||||||||||||||||||||||||||||||||||
$ | 8,978 | $ | 8,978 | $ | 366 | $ | 9,528 | $ | 217 | ||||||||||||||||||||||||||||||||
Schedule of Number of Loans and Recorded Investment in Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||||||||||
The following table presents the number of loans and recorded investment in loans restructured and identified as troubled debt restructurings for the twelve months ended December 31, 2013, as well as the number and recorded investment in these loans that subsequently defaulted. Defaulted loans are those which are 30 days or more past due for payment under the modified terms. | |||||||||||||||||||||||||||||||||||||||||
(In thousands, except contracts data) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | ||||||||||||||||||||||||||||||||||||||
Residential real estate | 1 | 63 | 63 | ||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | — | ||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||
Contracts | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | ||||||||||||||||||||||||||||||||||||||
Commercial real estate: | — | — | |||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | — | — | |||||||||||||||||||||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||||||||||||||||||||
(In thousands, except contracts data) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 177 | $ | 177 | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | — | ||||||||||||||||||||||||||||||||||||||
Owner occupied | 2 | 872 | 872 | ||||||||||||||||||||||||||||||||||||||
1-4 family investment | 2 | 785 | 785 | ||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | — | ||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | — | ||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 1 | 415 | 415 | ||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||
Contracts | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | |||||||||||||||||||||||||||||||||||||||||
Commercial | — | $ | — | ||||||||||||||||||||||||||||||||||||||
Commercial real estate: | — | — | |||||||||||||||||||||||||||||||||||||||
Non-owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
Owner occupied | — | — | |||||||||||||||||||||||||||||||||||||||
1-4 family investment | — | — | |||||||||||||||||||||||||||||||||||||||
Commercial land and land development | — | — | |||||||||||||||||||||||||||||||||||||||
Residential real estate | — | — | |||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | 1 | 415 | |||||||||||||||||||||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses by Loan Portfolio Segments | ' | ||||||||||||||||||||||||||||||||||||||||
The allowance for loan losses is presented by loan portfolio segments with the outstanding balances of loans for the years ended December 31, 2013 and 2012 as follows: | |||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Non-Owner | Owner | 1-4 Family | Commercial – | Residential | Home | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||
Occupied | Occupied | Investment | Land and | Real Estate | Equity | ||||||||||||||||||||||||||||||||||||
Land | Lines of | ||||||||||||||||||||||||||||||||||||||||
Development | Credit | ||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 545 | $ | 841 | $ | 774 | $ | 456 | $ | 143 | $ | 582 | $ | 72 | $ | 26 | $ | 297 | $ | 3,736 | |||||||||||||||||||||
Charge-offs | — | — | 222 | 167 | — | 314 | 65 | 4 | — | 772 | |||||||||||||||||||||||||||||||
Recoveries | 30 | — | 26 | 1 | — | — | — | 2 | — | 59 | |||||||||||||||||||||||||||||||
Provision | (151 | ) | 34 | 253 | 83 | 1 | 299 | 96 | 6 | 19 | 640 | ||||||||||||||||||||||||||||||
Ending balance | $ | 424 | $ | 875 | $ | 831 | $ | 373 | $ | 144 | $ | 567 | $ | 103 | $ | 30 | $ | 316 | $ | 3,663 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | 8 | $ | — | $ | — | $ | — | $ | 9 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 423 | $ | 875 | $ | 831 | $ | 373 | $ | 144 | $ | 559 | $ | 103 | $ | 30 | $ | 316 | $ | 3,654 | |||||||||||||||||||||
Loans as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 37,253 | $ | 77,817 | $ | 68,400 | $ | 26,201 | $ | 12,594 | $ | 81,122 | $ | 17,531 | $ | 2,419 | $ | 323,337 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,023 | $ | 5,895 | $ | 1,172 | $ | 1,076 | $ | 215 | $ | 1,944 | $ | 772 | $ | — | $ | 12,097 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 36,230 | $ | 71,922 | $ | 67,228 | $ | 25,125 | $ | 12,379 | $ | 79,178 | $ | 16,759 | $ | 2,419 | $ | 311,240 | |||||||||||||||||||||||
Allowance for Loan Losses as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 693 | $ | 525 | $ | 593 | $ | 365 | $ | 147 | $ | 680 | $ | 63 | $ | 24 | $ | 333 | $ | 3,423 | |||||||||||||||||||||
Charge-offs | 268 | 186 | 353 | 52 | — | 31 | — | 30 | — | 920 | |||||||||||||||||||||||||||||||
Recoveries | 91 | — | — | — | — | 2 | — | — | — | 93 | |||||||||||||||||||||||||||||||
Provision | 29 | 502 | 534 | 143 | (4 | ) | (69 | ) | 9 | 32 | (36 | ) | 1,140 | ||||||||||||||||||||||||||||
Ending balance | $ | 545 | $ | 841 | $ | 774 | $ | 456 | $ | 143 | $ | 582 | $ | 72 | $ | 26 | $ | 297 | $ | 3,736 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2 | $ | — | $ | — | $ | 148 | $ | — | $ | 216 | $ | — | $ | — | $ | — | $ | 366 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 543 | $ | 841 | $ | 774 | $ | 308 | $ | 143 | $ | 366 | $ | 72 | $ | 26 | $ | 297 | $ | 3,370 | |||||||||||||||||||||
Loans as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 23,423 | $ | 66,694 | $ | 50,626 | $ | 27,885 | $ | 12,623 | $ | 41,487 | $ | 12,812 | $ | 2,298 | $ | 237,848 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 908 | $ | 3,082 | $ | 991 | $ | 1,416 | $ | — | $ | 1,725 | $ | 853 | $ | 3 | $ | 8,978 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 22,515 | $ | 63,612 | $ | 49,635 | $ | 26,469 | $ | 12,623 | $ | 39,762 | $ | 11,959 | $ | 2,295 | $ | 228,870 | |||||||||||||||||||||||
Summary of Credit Quality Indicators and Total Credit Exposure by Internally Assigned Grades | ' | ||||||||||||||||||||||||||||||||||||||||
The following presents the credit quality indicators and total credit exposure for each segment in the loan portfolio by internally assigned grades as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Non-Owner | Owner | 1-4 Family | Commercial – | Residential | Home | Consumer | Total | ||||||||||||||||||||||||||||||||
Occupied | Occupied | Investment | Land and | Real Estate | Equity | ||||||||||||||||||||||||||||||||||||
Land | Lines of | ||||||||||||||||||||||||||||||||||||||||
Development | Credit | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
1 – Excellent | $ | 682 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 179 | $ | 861 | |||||||||||||||||||||||
2 – Good | 4,652 | 208 | 2,184 | 59 | 195 | — | 30 | — | 7,328 | ||||||||||||||||||||||||||||||||
3 – Satisfactory | 29,519 | 71,375 | 59,884 | 18,928 | 11,670 | 76,298 | 16,145 | 2,240 | 286,059 | ||||||||||||||||||||||||||||||||
4 – Watch | 916 | 2,596 | 4,235 | 5,062 | 298 | 1,735 | 515 | — | 15,357 | ||||||||||||||||||||||||||||||||
5 – Special Mention | 376 | 2,616 | 904 | 1,187 | 216 | 127 | 366 | — | 5,792 | ||||||||||||||||||||||||||||||||
6 – Substandard | 1,108 | 1,022 | 1,193 | 965 | 215 | 2,962 | 475 | — | 7,940 | ||||||||||||||||||||||||||||||||
7 – Doubtful | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
8 – Loss | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 37,253 | $ | 77,817 | $ | 68,400 | $ | 26,201 | $ | 12,594 | $ | 81,122 | $ | 17,531 | $ | 2,419 | $ | 323,337 | |||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
1 – Excellent | $ | 161 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 161 | |||||||||||||||||||||||
2 – Good | 3,768 | 239 | 2,392 | 68 | 212 | — | 59 | — | 6,738 | ||||||||||||||||||||||||||||||||
3 – Satisfactory | 16,980 | 61,779 | 43,353 | 17,062 | 11,290 | 39,313 | 11,061 | 2,295 | 203,133 | ||||||||||||||||||||||||||||||||
4 – Watch | 652 | 250 | 3,279 | 8,218 | 653 | 17 | 771 | — | 13,840 | ||||||||||||||||||||||||||||||||
5 – Special Mention | 954 | 3,779 | 590 | 1,349 | 468 | 164 | 368 | — | 7,672 | ||||||||||||||||||||||||||||||||
6 – Substandard | 908 | 647 | 1,012 | 1,188 | — | 1,993 | 553 | 3 | 6,304 | ||||||||||||||||||||||||||||||||
7 – Doubtful | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
8 – Loss | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 23,423 | $ | 66,694 | $ | 50,626 | $ | 27,885 | $ | 12,623 | $ | 41,487 | $ | 12,812 | $ | 2,298 | $ | 237,848 | |||||||||||||||||||||||
Summary of Loans Purchased in Union Transaction | ' | ||||||||||||||||||||||||||||||||||||||||
The following is a summary of the loans purchased in the Union transaction as November 1, 2013, the date of consolidation: | |||||||||||||||||||||||||||||||||||||||||
Union | Purchased | Purchased | Total | ||||||||||||||||||||||||||||||||||||||
Credit | Non- | Purchased | |||||||||||||||||||||||||||||||||||||||
Impaired | Impaired | Loans | |||||||||||||||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||||||||||||||
Contractually required principal and interest at acquisition | $ | 10,290 | $ | 92,704 | $ | 102,994 | |||||||||||||||||||||||||||||||||||
Contractual cash flows not expected to be collected | (5,487 | ) | (9,492 | ) | (14,979 | ) | |||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 4,803 | 83,212 | 88,015 | ||||||||||||||||||||||||||||||||||||||
Interest component of expected cash flows | (386 | ) | (12,278 | ) | (12,664 | ) | |||||||||||||||||||||||||||||||||||
Basis in acquired loans at acquisition – estimated fair value | $ | 4,417 | $ | 70,934 | $ | 75,351 | |||||||||||||||||||||||||||||||||||
Summary of Unpaid Principal Balances and Related Carrying Amount of Acquired Loans | ' | ||||||||||||||||||||||||||||||||||||||||
The unpaid principal balances and the related carrying amount of acquired loans as of December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||
Credit impaired purchased loans evaluated individually for incurred credit losses | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 7,010 | |||||||||||||||||||||||||||||||||||||||
Carrying Amount | 4,411 | ||||||||||||||||||||||||||||||||||||||||
Other purchased loans evaluated collectively for incurred credit losses | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | 70,358 | ||||||||||||||||||||||||||||||||||||||||
Carrying Amount | 68,284 | ||||||||||||||||||||||||||||||||||||||||
Total Purchased Loans | |||||||||||||||||||||||||||||||||||||||||
Outstanding balance | 77,368 | ||||||||||||||||||||||||||||||||||||||||
Carrying Amount | 72,695 | ||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Accretable Discount Related to Purchased Credit Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||
The changes in the accretable discount related to the purchased credit impaired loans are as follows: | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||||||
Balance – beginning of period | $ | — | |||||||||||||||||||||||||||||||||||||||
Union acquisition | 386 | ||||||||||||||||||||||||||||||||||||||||
Accretion recognized during the period | (23 | ) | |||||||||||||||||||||||||||||||||||||||
Net reclassification from non-accretable to accretable | 15 | ||||||||||||||||||||||||||||||||||||||||
Balance – end of period | $ | 378 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Schedule of Premises and Equipment | ' | ||||||||||
Premises and equipment consisted of the following at December 31: | |||||||||||
Estimated Useful Life | 2013 | 2012 | |||||||||
(In thousands) | |||||||||||
Land | — | $ | 1,410 | $ | 741 | ||||||
Bank premises | 7 – 50 years | 8,876 | 4,618 | ||||||||
Leasehold improvements | 10 – 30 years | 131 | 2,531 | ||||||||
Furnishings and equipment | 3 – 10 years | 3,898 | 2,602 | ||||||||
Construction in progress | — | 93 | 10 | ||||||||
14,408 | 10,502 | ||||||||||
Accumulated depreciation | (6,056 | ) | (3,340 | ) | |||||||
$ | 8,352 | $ | 7,162 | ||||||||
Schedule of Future Minimum Lease Payments under Non-Cancelable Lease Arrangements | ' | ||||||||||
At December 31, 2013, future minimum lease payments under non-cancelable lease arrangements are as follows (in thousands): | |||||||||||
Years ending December 31, | |||||||||||
2014 | $ | 279 | |||||||||
2015 | 267 | ||||||||||
2016 | 247 | ||||||||||
2017 | 83 | ||||||||||
2018 | 58 | ||||||||||
Thereafter | 549 |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Gross Carrying Amount and Accumulated Amortization Related to Intangible Assets | ' | ||||||||||||||||
The gross carrying amount and accumulated amortization related to intangible assets at December 31, 2013 and 2012 are presented below: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||
Amount | Amount | ||||||||||||||||
(In thousands) | |||||||||||||||||
Core deposit intangibles – HNB | $ | 173 | $ | 126 | $ | 173 | $ | 107 | |||||||||
Core deposit intangibles – Union | 1,264 | 32 | — | — | |||||||||||||
Customer list intangible | 463 | 84 | 463 | — | |||||||||||||
Loan servicing rights | 57 | 45 | 55 | 37 | |||||||||||||
Total intangible assets | $ | 1,957 | $ | 287 | $ | 691 | $ | 144 | |||||||||
Estimation of Amortization Expense | ' | ||||||||||||||||
Riverview estimates the amortization expense for the core deposit and customer list intangibles as follows (in thousands): | |||||||||||||||||
Years ending December 31, | |||||||||||||||||
2014 | $ | 286 | |||||||||||||||
2015 | 259 | ||||||||||||||||
2016 | 231 | ||||||||||||||||
2017 | 194 | ||||||||||||||||
2018 | 169 | ||||||||||||||||
Thereafter | 519 | ||||||||||||||||
$ | 1,658 | ||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||
Summary of Deposits | ' | ||||||||||||||||
Deposits at December 31, 2013 and 2012 are summarized as follows: | |||||||||||||||||
(Dollars in thousands) | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance | Average | Balance | Average | ||||||||||||||
Rate | Rate | ||||||||||||||||
Non-interest bearing demand | $ | 50,181 | 0 | % | $ | 24,526 | 0 | % | |||||||||
Interest-bearing demand | 127,992 | 0.49 | % | 97,576 | 0.95 | % | |||||||||||
Savings | 90,919 | 0.46 | % | 48,342 | 0.34 | % | |||||||||||
Time | 113,253 | 1.42 | % | 99,001 | 1.84 | % | |||||||||||
Total deposits | $ | 382,345 | $ | 269,445 | |||||||||||||
Schedule of Contractual Maturities of Time Deposits | ' | ||||||||||||||||
Scheduled contractual maturities of time deposits at December 31, 2013 are as follows (in thousands): | |||||||||||||||||
Years ending December 31, | |||||||||||||||||
2014 | $ | 56,654 | |||||||||||||||
2015 | 21,163 | ||||||||||||||||
2016 | 9,652 | ||||||||||||||||
2017 | 18,606 | ||||||||||||||||
2018 | 6,763 | ||||||||||||||||
Thereafter | 415 | ||||||||||||||||
$ | 113,253 | ||||||||||||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Summary of Short-Term Borrowings | ' | ||||||||||||||
A summary of short-term borrowings is as follows at December 31: | |||||||||||||||
2013 | 2012 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||
FHLB Open Repo Plus | $ | — | $ | 11,000 | |||||||||||
$ | — | $ | 11,000 | ||||||||||||
Weighted average rate at end of year | — | 0.25 | % | ||||||||||||
Maximum amount outstanding at any end of month | — | $ | 11,821 | ||||||||||||
Daily average amount outstanding | — | $ | 6,202 | ||||||||||||
Approximate weighted average interest rate for year | — | 0.26 | % | ||||||||||||
Summary of Long-Term Arrangements | ' | ||||||||||||||
FHLB of Pittsburgh borrowings under long-term arrangements are summarized as follows at December 31: | |||||||||||||||
Maturity Date | Interest Rate | 2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||||
6/18/13 | 2.67 | % | Fixed rate | $ | — | $ | 2,550 | ||||||||
4/9/18 | 2.9 | % | Fixed rate until 4/9/2013 (1) | 5,000 | 5,000 | ||||||||||
$ | 5,000 | $ | 7,550 | ||||||||||||
(1) | Convertible select fixed rate to a floating rate of 3 month Libor plus 23 basis points resetting quarterly at the discretion of the FHLB. | ||||||||||||||
Scheduled Contractual Maturities of FHLB Borrowings | ' | ||||||||||||||
Scheduled contractual maturities of FHLB borrowings are as follows at December 31, 2013 (in thousands): | |||||||||||||||
Years Ending December 31, | |||||||||||||||
2018 | $ | 5,000 | |||||||||||||
$ | 5,000 | ||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Postemployment Benefits [Abstract] | ' | ||||||||||||||||||||
Summary of Stock Option Plan | ' | ||||||||||||||||||||
A summary of the status of Riverview’s stock option plan as of December 31, 2013 is as follows: | |||||||||||||||||||||
Options | Shares | Weighted Average | |||||||||||||||||||
Exercise Price Per | |||||||||||||||||||||
Share | |||||||||||||||||||||
Outstanding – January 1, 2013 | 179,250 | $ | 10.58 | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||
Forfeited | — | — | |||||||||||||||||||
Exercised | — | — | |||||||||||||||||||
Outstanding – December 31, 2013 | 179,250 | $ | 10.58 | ||||||||||||||||||
Options exercisable at year end | 179,250 | ||||||||||||||||||||
Weighted average fair value of options per share granted during the year | $ | 10.58 | |||||||||||||||||||
Remaining contractual life | 6 years | ||||||||||||||||||||
Schedule of Weighted Average Assumptions of Fair Value of Option Granted | ' | ||||||||||||||||||||
The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions. There were no options granted during 2013. | |||||||||||||||||||||
2012 Option | |||||||||||||||||||||
Grants | |||||||||||||||||||||
January | |||||||||||||||||||||
Dividend yield | 5.07 | % | |||||||||||||||||||
Expected life | 8.5 years | ||||||||||||||||||||
Expected volatility | 69.22 | % | |||||||||||||||||||
Risk-free interest rate | 1.41 | % | |||||||||||||||||||
Schedule of Information Pertaining to Options Outstanding | ' | ||||||||||||||||||||
Information pertaining to options outstanding at December 31, 2013 is as follows: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of | Number | Weighted | Weighted | Number | Weighted | Weighted | |||||||||||||||
exercise | Outstanding | Average | Average | Exercisable | Average | Average | |||||||||||||||
price | Remaining | Exercise | Exercise | Remaining | |||||||||||||||||
Contractual | Price | Price | Contractual Life | ||||||||||||||||||
Life | |||||||||||||||||||||
$10.35 – $10.60 | 179,250 | 6 years | $ | 10.58 | 179,250 | $ | 10.58 | 6 years | |||||||||||||
Schedule of Plan's Funded Status | ' | ||||||||||||||||||||
The following table presents the plan’s funded status and the amounts recognized in the Company’s consolidated financial statements since the November 1st effective date of the consolidation. | |||||||||||||||||||||
(In thousands) | Two | ||||||||||||||||||||
Months | |||||||||||||||||||||
Ended | |||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Obligations and funded status: | |||||||||||||||||||||
Change in benefit obligations: | |||||||||||||||||||||
Benefit obligation beginning November 1, 2013 | $ | 3,908 | |||||||||||||||||||
Interest cost | 28 | ||||||||||||||||||||
Actuarial cost | — | ||||||||||||||||||||
Change in actuarial assumption | 7 | ||||||||||||||||||||
Benefit payments | (20 | ) | |||||||||||||||||||
Benefit obligation at end of year | 3,923 | ||||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||
Fair value of plan assets at November 1, 2013 | 3,642 | ||||||||||||||||||||
Actual return on plan assets | 52 | ||||||||||||||||||||
Benefit paid | (20 | ) | |||||||||||||||||||
Fair value of plan assets at end of year | 3,674 | ||||||||||||||||||||
Funded status included in other liabilities | ($ | 249 | ) | ||||||||||||||||||
Schedule of Amounts Related to Plan Recognized in Accumulated Other Comprehensive Loss but not Yet Recognized as Component of Net Periodic Pension Cost | ' | ||||||||||||||||||||
Amounts related to the plan that have been recognized in accumulated other comprehensive loss but not yet recognized as a component of net periodic pension cost are as follows: | |||||||||||||||||||||
(In thousands) | 2013 | ||||||||||||||||||||
Net loss | $ | 9 | |||||||||||||||||||
Schedule of Net Periodic Pension Expense | ' | ||||||||||||||||||||
Net periodic pension expense included the following components for the years ended December 31: | |||||||||||||||||||||
(In thousands) | Two | ||||||||||||||||||||
Months | |||||||||||||||||||||
Ended | |||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Interest cost | $ | 28 | |||||||||||||||||||
Expected return on plan assets | (32 | ) | |||||||||||||||||||
Net periodic pension expense | ($ | 4 | ) | ||||||||||||||||||
Summary of Actuarial Assumptions Used for Company's Pension Plan | ' | ||||||||||||||||||||
The following is a summary of actuarial assumptions used for the Company’s pension plan: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Discount rate | 4.6 | % | |||||||||||||||||||
Expected long-term rate of return on plan assets | 6 | % | |||||||||||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): | |||||||||||||||||||||
2014 | $ | 227 | |||||||||||||||||||
2015 | 229 | ||||||||||||||||||||
2016 | 226 | ||||||||||||||||||||
2017 | 219 | ||||||||||||||||||||
2018 | 215 | ||||||||||||||||||||
2019 – 2023 | 1,136 | ||||||||||||||||||||
Total | $ | 2,252 | |||||||||||||||||||
Schedule of Company's Pension Plan Asset Allocations, by Asset Category | ' | ||||||||||||||||||||
The Company’s pension plan asset allocations, by asset category, are as follows: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Cash and cash equivalents | 0.54 | % | |||||||||||||||||||
Equity | 75.95 | % | |||||||||||||||||||
Fixed income | 23.51 | % | |||||||||||||||||||
Total | 100 | % | |||||||||||||||||||
Schedule of Fair Value of Company's Pension Plan Assets, by Asset Category | ' | ||||||||||||||||||||
The fair value of the Company’s pension plan assets at December 31, 2013 by asset category are as follows: | |||||||||||||||||||||
2013 | |||||||||||||||||||||
(In thousands) | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Cash and cash equivalents | $ | 20 | $ | 20 | $ | — | $ | — | |||||||||||||
Mutual funds: | |||||||||||||||||||||
One year fixed income fund | 864 | 864 | — | — | |||||||||||||||||
Short-term investment grade fund | 1,079 | 1,079 | — | — | |||||||||||||||||
GNMA fund | 215 | 215 | — | — | |||||||||||||||||
Index 500 fund | 314 | 314 | — | — | |||||||||||||||||
Value index fund | 366 | 366 | — | — | |||||||||||||||||
Mid cap value index fund | 157 | 157 | — | — | |||||||||||||||||
U.S. targeted fund | 210 | 210 | — | — | |||||||||||||||||
Emerging markets core equity fund | 114 | 114 | — | — | |||||||||||||||||
Real estate securities fund | 44 | 44 | — | — | |||||||||||||||||
International value fund | 269 | 269 | — | — | |||||||||||||||||
International real estate fund | 22 | 22 | — | — | |||||||||||||||||
Total assets | $ | 3,674 | $ | 3,674 | $ | — | $ | — | |||||||||||||
Taxes_Tables
Taxes (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Income Tax Expense (Benefit) and Related Effective Income Tax Rates | ' | ||||||||||||||||
Income tax expense (benefit) and the related effective income tax rates are comprised of the following items for the years ended December 31: | |||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||
Tax at statutory rates | $ | 412 | 34 | % | $ | 674 | 34 | % | |||||||||
Tax-exempt interest income | (273 | ) | (23 | %) | (273 | ) | (14 | %) | |||||||||
Life insurance income | (75 | ) | (6 | %) | (92 | ) | (5 | %) | |||||||||
Interest disallowance | 11 | 1 | % | 17 | 1 | % | |||||||||||
Low income housing credit | (123 | ) | (10 | %) | |||||||||||||
Bargain purchase gain | (214 | ) | (18 | %) | |||||||||||||
Other | 12 | 1 | % | (8 | ) | — | |||||||||||
Federal Income Taxes | ($ | 250 | ) | (21 | %) | $ | 318 | 16 | % | ||||||||
Summary of Current and Deferred Portions of Income Taxes (Benefits) | ' | ||||||||||||||||
The current and deferred portions of applicable income taxes (benefits) for the years ended December 31 are as follows: | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Current tax | $ | 517 | $ | 424 | |||||||||||||
Deferred tax benefit | (767 | ) | (106 | ) | |||||||||||||
Applicable Federal Income Tax (Benefit) | ($ | 250 | ) | $ | 318 | ||||||||||||
Schedule of Deferred Tax Assets and Liabilities Included in Other Assets on Consolidated Balance Sheet | ' | ||||||||||||||||
The Company records deferred taxes, at the 34% tax rate, on cumulative temporary differences. Components of deferred tax assets and liabilities, included in other assets on the consolidated balance sheet, are as follows at December 31: | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Deferred tax assets: | |||||||||||||||||
Allowance for loan losses | $ | 759 | $ | 1,090 | |||||||||||||
Non-accrual loan interest | 185 | 139 | |||||||||||||||
Deferred compensation | 506 | 267 | |||||||||||||||
Purchase accounting adjustments | 787 | 72 | |||||||||||||||
Alternative minimum tax credit carryforwards | 455 | — | |||||||||||||||
OREO valuation | 149 | ||||||||||||||||
Acquisition costs Union | 288 | — | |||||||||||||||
Unfunded pension liability | 89 | — | |||||||||||||||
Low income housing credit carryforwards | 897 | — | |||||||||||||||
Net operating loss carryforwards | 641 | — | |||||||||||||||
Unrealized loss on investment securities | 280 | — | |||||||||||||||
Valuation allowance on the fair value of investment securities acquired | 123 | — | |||||||||||||||
Other | 46 | 40 | |||||||||||||||
5,205 | 1,608 | ||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||
Accumulated depreciation | (570 | ) | (324 | ) | |||||||||||||
Unrealized gain on investment securities | — | (325 | ) | ||||||||||||||
Other | — | (8 | ) | ||||||||||||||
(570 | ) | (657 | ) | ||||||||||||||
Net Deferred Tax Asset | $ | 4,635 | $ | 951 | |||||||||||||
Financial_Instruments_with_Off1
Financial Instruments with Off Balance Sheet Risk (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Schedule of Bank's Exposure to Credit Loss | ' | ||||||||
The Bank’s exposure to credit loss for loan commitments (unfunded loans and unused lines of credit, including home equity lines of credit) and standby and performance letters of credit was as follows at December 31: | |||||||||
Contract or Notional Amount | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to grant loans | $ | 17,060 | $ | 13,262 | |||||
Unfunded commitments of existing loans | 26,785 | 21,396 | |||||||
Standby and performance letters of credit | 2,995 | 1,749 | |||||||
$ | 46,840 | $ | 36,407 | ||||||
Concentrations_of_Credit_Risk_
Concentrations of Credit Risk (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Risks And Uncertainties [Abstract] | ' | ||||||||
Schedule of Loan Concentrations | ' | ||||||||
The following table presents loan concentrations as of December 31, 2013 and December 31, 2012. | |||||||||
(Dollars in thousands) | December 31, | December 31, | |||||||
2013 | 2012 | ||||||||
Loans to Lessors of: | |||||||||
Residential buildings and dwellings | $ | 45,815 | $ | 44,954 | |||||
Nonresidential buildings | 35,946 | 37,572 |
Regulatory_Matters_and_Shareho1
Regulatory Matters and Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Bank's Actual Capital Ratios and Minimum Ratios Required for Capital Adequacy Purposes | ' | ||||||||||||||||||||||||
The Bank’s actual capital ratios, at December 31, 2013 and 2012 and the minimum ratios required for capital adequacy purposes and to be well capitalized under the prompt corrective action provisions are summarized below. | |||||||||||||||||||||||||
Actual | For Capital | To be Well Capitalized | |||||||||||||||||||||||
Adequacy Purposes | under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||
Total risk-based capital (to risk-weighted assets) | $ | 35,504 | 11.5 | % | ³$ | 24,688 | ³8.0 | % | ³$ | 30,860 | ³10.0 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets) | 31,835 | 10.3 | ³12,344 | ³4.0 | ³18,516 | ³6.0 | |||||||||||||||||||
Tier 1 capital (to average total assets) | 31,835 | 8.2 | ³15,494 | >4.0 | ³19,368 | ³5.0 | |||||||||||||||||||
Actual | For Capital | To be Well Capitalized | |||||||||||||||||||||||
Adequacy Purposes | under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||
Total risk-based capital (to risk-weighted assets) | $ | 28,064 | 12.1 | % | ³$ | 18,537 | ³8.0 | % | ³$ | 23,171 | ³10.0 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets) | 25,157 | 10.9 | ³9,268 | ³4.0 | ³13,903 | ³6.0 | |||||||||||||||||||
Tier 1 capital (to average total assets) | 25,157 | 8.1 | >12,403 | >4.0 | ³15,503 | ³5.0 |
Fair_Value_Measurements_and_Fa1
Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Financial Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at December 31 are as follows: | |||||||||||||||||||||
Description | Balance | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||||||
Active Markets for | Other | Unobservable | |||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
Inputs | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
U.S. Government agency securities | $ | 1,356 | $ | — | $ | 1,356 | $ | — | |||||||||||||
State and municipal | 37,043 | — | 37,043 | — | |||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | — | — | |||||||||||||||||||
Mortgage-backed securities | 13,141 | — | 13,141 | — | |||||||||||||||||
Collateralized mortgage obligations (CMOs) | 3,330 | — | 3,330 | — | |||||||||||||||||
Corporate debt obligations | 1,851 | — | 1,851 | — | |||||||||||||||||
Equity securities, financial services | 525 | — | 525 | — | |||||||||||||||||
Securities available-for-sale | $ | 57,246 | $ | — | $ | 57,246 | $ | — | |||||||||||||
December 31, 2012: | |||||||||||||||||||||
U.S. Government agencies | $ | 3,506 | $ | — | $ | 3,506 | $ | — | |||||||||||||
State and municipal | 22,853 | — | 22,853 | — | |||||||||||||||||
U.S. Government agencies and sponsored enterprises (GSEs) – residential: | |||||||||||||||||||||
Mortgage-backed securities | 13,006 | — | 13,006 | — | |||||||||||||||||
Collateralized mortgage obligations CMOs | 5,736 | — | 5,736 | — | |||||||||||||||||
Securities available-for-sale | $ | 45,101 | $ | — | $ | 45,101 | $ | — | |||||||||||||
Summary of Assets Measured at Estimated Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
A summary of assets at December 31, 2013 and 2012 measured at estimated fair value on a nonrecurring basis is as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | |||||||||||||||||
Gains/(Losses) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Loans held for sale | $ | — | $ | 245 | $ | — | $ | 245 | $ | — | |||||||||||
Other real estate owned | — | 1,021 | 106 | 1,127 | (580 | ) | |||||||||||||||
Impaired loans, net of related allowance | — | 285 | — | 285 | — | ||||||||||||||||
Total | $ | — | $ | 1,551 | $ | 106 | $ | 1,657 | ($ | 580 | ) | ||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | |||||||||||||||||
Gains/Losses | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||
Loans held for sale | $ | — | $ | 830 | $ | — | $ | 830 | $ | — | |||||||||||
Other real estate owned | — | 1,909 | — | 1,909 | (122 | ) | |||||||||||||||
Impaired loans, net of related allowance | — | 501 | 171 | 672 | — | ||||||||||||||||
Total | $ | — | $ | 3,240 | $ | 171 | $ | 3,411 | ($ | 122 | ) | ||||||||||
Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table presents additional quantitative information about assets measures at fair value on a nonrecurring basis and for which Level 3 inputs have been used to determine fair value (in thousands): | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Other real estate | $ | 106 | Appraisal of collateral (1) | Appraisal and liquidation | 0-(20)% | ||||||||||||||||
adjustments (2) | |||||||||||||||||||||
December 31, 2012 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 171 | Appraisal of collateral (1) | Appraisal and liquidation | 0-(20)% | ||||||||||||||||
adjustments (2) | |||||||||||||||||||||
(1) | Fair value is generally determined through independent appraisals of the underlying collateral. When an appraisal is older than two years, the asset is categorized as a Level 3. | ||||||||||||||||||||
(2) | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||||||
Estimated Fair Values of Riverview's Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of the Company’s financial instruments at December 31, 2013 and 2012 are presented as follows: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
(In thousands) | Carrying | Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||
Amount | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24,062 | $ | 24,062 | $ | 24,062 | $ | — | $ | — | |||||||||||
Interest-bearing time deposits | 1,244 | 1,244 | 1,244 | — | — | ||||||||||||||||
Investment securities | 57,246 | 57,246 | — | 57,246 | — | ||||||||||||||||
Mortgage loans held for sale | 245 | 245 | — | 245 | — | ||||||||||||||||
Loans, net | 319,674 | 322,452 | — | — | 322,452 | ||||||||||||||||
Accrued interest receivable | 1,380 | 1,380 | 1,380 | — | — | ||||||||||||||||
Restricted investments in bank stocks | 1,030 | 1,030 | — | — | 1,030 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 382,345 | 368,560 | — | 368,560 | — | ||||||||||||||||
Long-term borrowings | 10,000 | 10,340 | — | 10,340 | — | ||||||||||||||||
Accrued interest payable | 197 | 197 | 197 | — | — | ||||||||||||||||
Off balance sheet financial instruments | — | — | — | — | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||||
(In thousands) | Carrying | Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||
Amount | in Active | Other | Unobservable | ||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 15,952 | $ | 15,952 | $ | 15,952 | $ | — | $ | — | |||||||||||
Interest-bearing time deposits | 250 | 250 | 250 | — | — | ||||||||||||||||
Investment securities | 45,101 | 45,101 | — | 45,101 | — | ||||||||||||||||
Mortgage loans held for sale | 830 | 830 | — | 830 | — | ||||||||||||||||
Loans, net | 234,112 | 237,376 | — | — | 237,376 | ||||||||||||||||
Accrued interest receivable | 1,014 | 1,014 | 1,014 | — | — | ||||||||||||||||
Restricted investments in bank stocks | 1,429 | 1,429 | — | — | 1,429 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 269,445 | 272,079 | — | 272,079 | — | ||||||||||||||||
Short-term borrowings | 11,000 | 10,998 | — | 10,998 | — | ||||||||||||||||
Long-term borrowings | 9,550 | 10,138 | — | 10,138 | — | ||||||||||||||||
Accrued interest payable | 177 | 177 | 177 | — | — | ||||||||||||||||
Off balance sheet financial instruments | — | — | — | — | — |
Riverview_Financial_Corporatio1
Riverview Financial Corporation (Parent Company Only) Financial Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Balance Sheets | ' | ||||||||
Balance Sheets | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Assets | |||||||||
Cash and cash equivalents | $ | 3,202 | $ | 43 | |||||
Investment in bank subsidiary | 37,959 | 28,617 | |||||||
Real estate, net | 73 | 73 | |||||||
Other assets | 3 | 5 | |||||||
$ | 41,237 | $ | 28,738 | ||||||
Liabilities and Shareholders’ Equity | |||||||||
Long-term borrowings | $ | 5,000 | $ | 2,001 | |||||
Other liabilities | 9 | — | |||||||
Total Liabilities | 5,009 | 2,001 | |||||||
Shareholders’ equity | 36,228 | 26,737 | |||||||
$ | 41,237 | $ | 28,738 | ||||||
Statements of Income | ' | ||||||||
Statements of Income | |||||||||
Years Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Income, dividends from bank subsidiary | $ | 1,228 | $ | 1,020 | |||||
Interest expense | 119 | 83 | |||||||
Income Before Equity in Undistributed (Distributions in Excess of) Net Income of Subsidiary | 1,109 | 937 | |||||||
Undistributed net income of subsidiary | 354 | 726 | |||||||
Net Income | $ | 1,463 | $ | 1,663 | |||||
Total Comprehensive Income | $ | 296 | $ | 1,289 | |||||
Statements of Cash Flows | ' | ||||||||
Statements of Cash Flows | |||||||||
Years Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Cash Flows from Operating Activities | |||||||||
Net income | $ | 1,463 | $ | 1,663 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Option expense | 160 | 44 | |||||||
Loan origination fee | — | (5 | ) | ||||||
Undistributed net income of subsidiary | (354 | ) | (726 | ) | |||||
Decrease in accrued interest receivable and other assets | 2 | ||||||||
Increase in accrued interest payable and other liabilities | 7 | ||||||||
Net Cash Provided by Operating Activities | 1,278 | 976 | |||||||
Cash Flows from Investing Activities | |||||||||
Capitalization of subsidiary | — | (500 | ) | ||||||
Net Cash Used in Investing Activities | — | (500 | ) | ||||||
Cash Flows from Financing Activities | |||||||||
Proceeds from long-term debt | 2,999 | 500 | |||||||
Dividends paid | (1,118 | ) | (936 | ) | |||||
Purchase of treasury stock | — | (65 | ) | ||||||
Net Cash Provided by (Used in) Financing Activities | 1,881 | (501 | ) | ||||||
Increase (Decrease) in Cash and Cash Equivalents | 3,159 | (25 | ) | ||||||
Cash and Cash Equivalents – Beginning | 43 | 68 | |||||||
Cash and Cash Equivalents – Ending | $ | 3,202 | $ | 43 | |||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Nonaccrual loans past due period | '90 days | ' |
Impairment of goodwill | $0 | $0 |
Advertising costs | $72,000 | $92,000 |
Outstanding common stock options | 179,250 | 179,250 |
Number of outstanding common stock options, Intrinsic value | ' | 15,000 |
Customer List Intangible [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Amortization of intangible asset period | '10 years | '10 years |
Perry County [Member] | Full Service [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 2 | ' |
Cumberland County [Member] | Full Service [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 1 | ' |
Schuylkill County [Member] | Full Service [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 6 | ' |
Dauphin County [Member] | Full Service [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 3 | ' |
Dauphin County [Member] | Drive-up Office [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 1 | ' |
Berks County [Member] | Commercial Office [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Number of offices | 1 | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Computation of Earnings per Share (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
Basic EPS, Income Numerator | $1,463 | $1,663 |
Dilutive effect of potential common stock options, Income Numerator | ' | ' |
Diluted EPS , Income Numerator | $1,463 | $1,663 |
Basic EPS, Common Shares Denominator | 1,881,354 | 1,719,498 |
Dilutive effect of potential common stock options, Common Shares Denominator | ' | 3,616 |
Diluted EPS, Common Shares Denominator | 1,881,354 | 1,723,114 |
Basic EPS | $0.78 | $0.97 |
Dilutive effect of potential common stock options, EPS | ' | ' |
Diluted EPS | $0.78 | $0.97 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Components of Other Comprehensive Income and Related Tax Effects (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
Unrealized gains (losses) on securities available for sale (net of tax of $280 and $326) | ($544) | $632 |
Unrealized pension cost (net of related taxes of $5 and $0) | 9 | ' |
Total accumulated other comprehensive income | ($535) | $632 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Components of Other Comprehensive Income and Related Tax Effects (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
Unrealized gains (losses) on securities available for sale, tax | $280 | $326 |
Unrealized pension cost, related taxes | $5 | ' |
Business_Combination_Additiona
Business Combination - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Nov. 01, 2013 | |
Business Acquisition [Line Items] | ' | ' | ' |
Preferred stock, shares authorized | 3,000,000 | ' | 3,000,000 |
Preferred stock, par value | ' | ' | ' |
Common stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Common stock, par value | ' | $0.50 | ' |
Common stock, shares issued | 2,703,840 | 1,750,003 | 987,524 |
Common stock, shares outstanding | 2,703,840 | 1,716,316 | 2,703,840 |
Bargain purchase price gain | $629,000 | ' | ' |
Pre-tax expenses associated with consolidation | 1,611,000 | ' | ' |
Net income | 1,910,000 | 1,636,000 | ' |
Riverview Bank [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Common stock, shares issued | 987,524 | ' | ' |
Common stock exchange ratio | ' | ' | 1 |
Union Bank [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Common stock, shares outstanding | 506,513 | ' | ' |
Common stock exchange ratio | 1.95 | ' | 1.95 |
Net income | $448,000 | ' | ' |
Business_Combination_Fair_Valu
Business Combination - Fair Value of Assets Acquired and Liabilities Assumed (Detail) (USD $) | Dec. 31, 2013 | Nov. 01, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and cash equivalents | ' | $15,580 |
Investment securities | ' | 29,211 |
Net loans | ' | 75,351 |
Bank premises and equipment | 519 | 1,660 |
Other assets | ' | 5,941 |
Total assets | ' | 127,743 |
Liabilities: | ' | ' |
Noninterest-bearing deposits | ' | 26,687 |
Interest-bearing deposits | ' | 88,290 |
Other liabilities | ' | 1,984 |
Total liabilities | ' | 116,961 |
Net assets acquired | ($10,782) | $10,782 |
Business_Combination_Schedule_
Business Combination - Schedule of Calculation of Goodwill (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Nov. 01, 2013 | Dec. 31, 2012 |
Purchase Price: | ' | ' | ' |
Union common shares outstanding | 2,703,840 | 2,703,840 | 1,716,316 |
Riverview common stock issued | 2,703,840 | 987,524 | 1,750,003 |
Purchase price assigned to shares exchanged for stock | $10,152 | ' | ' |
Total Purchase Price | 10,153 | ' | ' |
Loans: | ' | ' | ' |
Allowance for loan losses | 1,427 | ' | ' |
Core deposit intangible | 1,264 | ' | ' |
Premises and equipment | 519 | 1,660 | ' |
Reversal of old purchase account marks and deferred fees/costs | -142 | ' | ' |
Miscellaneous assets and liabilities | -780 | ' | ' |
Deferred tax asset | 1,495 | ' | ' |
Decrease to reflect liabilities acquired at fair value: | ' | ' | ' |
Time deposits | -379 | ' | ' |
Net assets acquired | 10,782 | -10,782 | ' |
Bargain purchase price gain resulting from consolidation | 629 | ' | ' |
Interest Rate Fair Value [Member] | ' | ' | ' |
Loans: | ' | ' | ' |
Loans | 268 | ' | ' |
General Credit Fair Value Mark [Member] | ' | ' | ' |
Loans: | ' | ' | ' |
Loans | -795 | ' | ' |
Specific Credit Fair Value Mark [Member] | ' | ' | ' |
Loans: | ' | ' | ' |
Loans | -1,705 | ' | ' |
Union Bank [Member] | ' | ' | ' |
Purchase Price: | ' | ' | ' |
Union common shares outstanding | 506,513 | ' | ' |
Exchange ratio | 1.95 | 1.95 | ' |
Union fractional shares exchanged for cash | 176 | ' | ' |
Purchase price paid to each Union common share exchanged for cash | $10.75 | ' | ' |
Purchase price assigned to each Union common share exchanged for cash | 1 | ' | ' |
Net Assets Acquired: | ' | ' | ' |
Union common shareholders' equity | $9,610 | ' | ' |
Riverview Bank [Member] | ' | ' | ' |
Purchase Price: | ' | ' | ' |
Exchange ratio | ' | 1 | ' |
Riverview common stock issued | 987,524 | ' | ' |
Fair market value of Riverview common share | $10.28 | ' | ' |
Business_Combination_Pro_Forma
Business Combination - Pro Forma Consolidated Results of Operations of Company (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Combinations [Abstract] | ' | ' |
Total revenues, net of interest expense | $14,731 | $13,920 |
Net income | $1,910 | $1,636 |
Basic and dilutive earnings per share | $1.02 | $0.61 |
Restriction_on_Cash_and_Due_fr1
Restriction on Cash and Due from Banks - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Average reserve balances required with Federal Reserve Bank | $5,943,000 | $6,610,000 |
Investment_Securities_Availabl2
Investment Securities Available-for-Sale - Summary of Amortized Cost and Estimated Fair Values of Investment Securities Available-for-Sale (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $58,068 | $44,144 |
Gross Unrealized Gains | 243 | 1,021 |
Gross Unrealized Losses | 1,065 | 64 |
Fair Value | 57,246 | 45,101 |
U.S. Government Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,405 | 3,500 |
Gross Unrealized Gains | ' | 6 |
Gross Unrealized Losses | 49 | ' |
Fair Value | 1,356 | 3,506 |
State and Municipal [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 37,686 | 22,252 |
Gross Unrealized Gains | 176 | 665 |
Gross Unrealized Losses | 819 | 64 |
Fair Value | 37,043 | 22,853 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 13,226 | 12,837 |
Gross Unrealized Gains | 43 | 169 |
Gross Unrealized Losses | 128 | ' |
Fair Value | 13,141 | 13,006 |
Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,387 | 5,555 |
Gross Unrealized Gains | 8 | 181 |
Gross Unrealized Losses | 65 | ' |
Fair Value | 3,330 | 5,736 |
Corporate Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,852 | ' |
Gross Unrealized Gains | 1 | ' |
Gross Unrealized Losses | 2 | ' |
Fair Value | 1,851 | ' |
Equity Securities, Financial Services [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 512 | ' |
Gross Unrealized Gains | 15 | ' |
Gross Unrealized Losses | 2 | ' |
Fair Value | $525 | ' |
Investment_Securities_Availabl3
Investment Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale, by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, Due in one year or less, Amortized Cost | ' | ' |
Available-for-sale securities, Due after one year through five years, Amortized Cost | 6,863 | ' |
Available-for-sale securities, Due after five years through ten years, Amortized Cost | 12,095 | ' |
Available-for-sale securities, Due after ten years, Amortized Cost | 21,985 | ' |
Available-for-sale securities, Single maturity, Amortized Cost | 40,943 | ' |
Available-for-sale securities, Without single maturity, Amortized Cost | 17,125 | ' |
Total available-for-sale securities, Amortized Cost | 58,068 | ' |
Available-for-sale securities, Due in one year or less, Fair Value | ' | ' |
Available-for-sale securities, Due after one year through five years, Fair Value | 6,859 | ' |
Available-for-sale securities, Due after five years through ten years, Fair Value | 12,105 | ' |
Available-for-sale securities, Due after ten years, Fair Value | 21,286 | ' |
Available-for-sale securities, Single maturity, Fair Value | 40,250 | ' |
Available-for-sale securities, Without single maturity, Fair Value | 16,996 | ' |
Fair Value | 57,246 | 45,101 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, Without single maturity, Amortized Cost | 13,226 | ' |
Available-for-sale securities, Without single maturity, Fair Value | 13,141 | ' |
Fair Value | 13,141 | 13,006 |
Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, Without single maturity, Amortized Cost | 3,387 | ' |
Available-for-sale securities, Without single maturity, Fair Value | 3,330 | ' |
Fair Value | 3,330 | 5,736 |
Equity Securities, Financial Services [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities, Without single maturity, Amortized Cost | 512 | ' |
Available-for-sale securities, Without single maturity, Fair Value | 525 | ' |
Fair Value | $525 | ' |
Investment_Securities_Availabl4
Investment Securities Available-for-Sale - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities pledged as collateral, amortized cost | $53,401,000 | $30,949,000 |
Available-for-sale securities pledged as collateral, fair value | 52,598,000 | 31,797,000 |
Available-for-sale securities in unrealized loss position, number of securities | 80 | ' |
Available-for-sale securities sold, amount | 7,177,000 | 19,106,000 |
Available-for-sale securities sold, gross realized gains | 118,000 | 770,000 |
Available-for-sale securities sold, gross realized losses | 1,000 | 0 |
Available-for-sale securities sold, net realized gains | $117,000 | $770,000 |
State and Municipal [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in unrealized loss position, number of securities | ' | 12 |
Number of available-for-sale securities sold | ' | 2 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of available-for-sale securities sold | ' | 10 |
U.S. Treasuries [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of available-for-sale securities sold | 4 | ' |
Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of available-for-sale securities sold | 4 | ' |
Investment_Securities_Availabl5
Investment Securities Available-for-Sale - Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | $34,799 | $5,053 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 975 | 64 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 1,862 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 90 | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 36,661 | 5,053 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 1,065 | 64 |
U.S. Government Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 1,241 | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 49 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | ' | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | ' | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 1,241 | ' |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 49 | ' |
State and Municipal [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 22,098 | 5,053 |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 729 | 64 |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | 1,862 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | 90 | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 23,960 | 5,053 |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 819 | 64 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 7,441 | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 128 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | ' | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | ' | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 7,441 | ' |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 128 | ' |
Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 2,618 | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 65 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | ' | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | ' | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 2,618 | ' |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 65 | ' |
Corporate Debt Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 1,362 | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 2 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | ' | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | ' | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 1,362 | ' |
Available-for-sale securities in a continuous loss position, Unrealized Losses | 2 | ' |
Equity Securities, Financial Services [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Fair Value | 39 | ' |
Available-for-sale securities in a continuous loss position, Less Than 12 Months, Unrealized Losses | 2 | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Fair Value | ' | ' |
Available-for-sale securities in a continuous loss position, More Than 12 Months, Unrealized Losses | ' | ' |
Available-for-sale securities in a continuous loss position, Fair Value | 39 | ' |
Available-for-sale securities in a continuous loss position, Unrealized Losses | $2 | ' |
Loans_Receivable_Credit_Qualit2
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Related Party Loans Activity (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Receivables [Abstract] | ' |
Balance - January 1 | $4,659 |
Advances | 1,504 |
Loans of new directors | 1,000 |
Payments | -1,965 |
Balance - December 31 | $5,198 |
Loans_Receivable_Credit_Qualit3
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Aging of Loans Receivable by Loan Portfolio Segments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $3,305 | $1,198 |
60-89 Days Past Due | 717 | 1,010 |
90 Days and Greater | 7,434 | 2,694 |
Total Past Due | 11,456 | 4,902 |
Current | 311,881 | 232,946 |
Ending balance | 323,337 | 237,848 |
Recorded Investment Greater Than 90 Days & Accruing | 1,145 | 231 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 218 | 58 |
60-89 Days Past Due | 17 | ' |
90 Days and Greater | 449 | ' |
Total Past Due | 684 | 58 |
Current | 36,569 | 23,365 |
Ending balance | 37,253 | 23,423 |
Recorded Investment Greater Than 90 Days & Accruing | 298 | ' |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 62 | ' |
60-89 Days Past Due | 0 | ' |
90 Days and Greater | 3,990 | 386 |
Total Past Due | 4,052 | 386 |
Current | 73,765 | 66,308 |
Ending balance | 77,817 | 66,694 |
Recorded Investment Greater Than 90 Days & Accruing | 0 | ' |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 996 | 237 |
60-89 Days Past Due | 15 | ' |
90 Days and Greater | 540 | 119 |
Total Past Due | 1,551 | 356 |
Current | 66,849 | 50,270 |
Ending balance | 68,400 | 50,626 |
Recorded Investment Greater Than 90 Days & Accruing | 156 | ' |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 139 | 99 |
60-89 Days Past Due | 92 | 83 |
90 Days and Greater | 458 | 306 |
Total Past Due | 689 | 488 |
Current | 25,512 | 27,397 |
Ending balance | 26,201 | 27,885 |
Recorded Investment Greater Than 90 Days & Accruing | 458 | ' |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 80 | 16 |
60-89 Days Past Due | 0 | ' |
90 Days and Greater | 215 | ' |
Total Past Due | 295 | 16 |
Current | 12,299 | 12,607 |
Ending balance | 12,594 | 12,623 |
Recorded Investment Greater Than 90 Days & Accruing | 0 | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,627 | 730 |
60-89 Days Past Due | 593 | 926 |
90 Days and Greater | 1,334 | 1,404 |
Total Past Due | 3,554 | 3,060 |
Current | 77,568 | 38,427 |
Ending balance | 81,122 | 41,487 |
Recorded Investment Greater Than 90 Days & Accruing | 193 | 231 |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 163 | ' |
60-89 Days Past Due | 0 | ' |
90 Days and Greater | 448 | 479 |
Total Past Due | 611 | 479 |
Current | 16,920 | 12,333 |
Ending balance | 17,531 | 12,812 |
Recorded Investment Greater Than 90 Days & Accruing | 40 | ' |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 20 | 58 |
60-89 Days Past Due | 0 | 1 |
90 Days and Greater | 0 | ' |
Total Past Due | 20 | 59 |
Current | 2,399 | 2,239 |
Ending balance | 2,419 | 2,298 |
Recorded Investment Greater Than 90 Days & Accruing | $0 | ' |
Loans_Receivable_Credit_Qualit4
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Nov. 01, 2013 | |
Contract | Loan | ||
Borrowers | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Deferred loan fees, net | $534,000 | $444,000 | ' |
Nonaccrual loans | 7,013,000 | 3,863,000 | ' |
Increase in interest income on nonaccrual loans | 241,000 | 236,000 | ' |
Increase in recorded investment in impaired loans | 3,119,000 | 3,119,000 | ' |
Troubled debt restructurings, amount | 7,071,000 | ' | ' |
Troubled Debt Restructurings, Number of Contracts | 22 | ' | ' |
Troubled debt restructurings, number of borrowers | 15 | ' | ' |
Purchased credit impaired loans | ' | ' | 14 |
Commercial Loan [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans purchased | 3,646,000 | ' | ' |
Non-Related Commercial and Mortgage Loan [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans purchased | 765,000 | ' | ' |
Riverview Bank [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Increase in recorded investment in impaired loans | 1,293,000 | 1,293,000 | ' |
Union Bank [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans purchased | $4,411,000 | ' | ' |
Loans_Receivable_Credit_Qualit5
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Schedule of Loans by Loan Portfolio Segments on Nonaccrual Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | $7,013 | $3,863 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 324 | 190 |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 3,990 | 1,159 |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 674 | 399 |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 168 | 389 |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 215 | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | 1,167 | 1,173 |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans on nonaccrual status | $475 | $553 |
Loans_Receivable_Credit_Qualit6
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Schedule of Impaired Loans by Loan Portfolio Segments (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with an allowance recorded, recorded investment | $294 | $1,038 |
Impaired loans, recorded investment | 12,097 | 8,978 |
Impaired loans, unpaid principal balance | 12,097 | 8,978 |
Impaired loans, related allowance | 9 | 366 |
Impaired loans, average recorded investment | 13,368 | 9,528 |
Impaired loans, interest income recognized | 241 | 217 |
Commercial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 857 | 731 |
Impaired loans with an allowance recorded, recorded investment | 166 | 177 |
Impaired loans, recorded investment | 1,023 | 908 |
Impaired loans with no related allowance recorded, unpaid principal balance | 857 | 731 |
Impaired loans with an allowance recorded, unpaid principal balance | 166 | 177 |
Impaired loans, unpaid principal balance | 1,023 | 908 |
Impaired loans, related allowance | 1 | 2 |
Impaired loans with no related allowance recorded, average recorded investment | 870 | 747 |
Impaired loans with an allowance recorded, average recorded investment | 188 | 191 |
Impaired loans, average recorded investment | 1,058 | 938 |
Impaired loans with no related allowance recorded, interest income recognized | 40 | 34 |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | 40 | 34 |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 5,895 | 3,082 |
Impaired loans with an allowance recorded, recorded investment | ' | ' |
Impaired loans, recorded investment | 5,895 | 3,082 |
Impaired loans with no related allowance recorded, unpaid principal balance | 5,895 | 3,082 |
Impaired loans with an allowance recorded, unpaid principal balance | ' | ' |
Impaired loans, unpaid principal balance | 5,895 | 3,082 |
Impaired loans, related allowance | ' | ' |
Impaired loans with no related allowance recorded, average recorded investment | 6,489 | 3,441 |
Impaired loans with an allowance recorded, average recorded investment | ' | ' |
Impaired loans, average recorded investment | 6,489 | 3,441 |
Impaired loans with no related allowance recorded, interest income recognized | 70 | 61 |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | 70 | 61 |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 1,172 | 991 |
Impaired loans with an allowance recorded, recorded investment | ' | ' |
Impaired loans, recorded investment | 1,172 | 991 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,172 | 991 |
Impaired loans with an allowance recorded, unpaid principal balance | ' | ' |
Impaired loans, unpaid principal balance | 1,172 | 991 |
Impaired loans, related allowance | ' | ' |
Impaired loans with no related allowance recorded, average recorded investment | 1,571 | 1,059 |
Impaired loans with an allowance recorded, average recorded investment | ' | ' |
Impaired loans, average recorded investment | 1,571 | 1,059 |
Impaired loans with no related allowance recorded, interest income recognized | 34 | 36 |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | 34 | 36 |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 1,076 | 1,073 |
Impaired loans with an allowance recorded, recorded investment | ' | 343 |
Impaired loans, recorded investment | 1,076 | 1,416 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,076 | 1,073 |
Impaired loans with an allowance recorded, unpaid principal balance | ' | 343 |
Impaired loans, unpaid principal balance | 1,076 | 1,416 |
Impaired loans, related allowance | ' | 148 |
Impaired loans with no related allowance recorded, average recorded investment | 1,097 | 1,084 |
Impaired loans with an allowance recorded, average recorded investment | ' | 350 |
Impaired loans, average recorded investment | 1,097 | 1,434 |
Impaired loans with no related allowance recorded, interest income recognized | 33 | 35 |
Impaired loans with an allowance recorded, interest income recognized | ' | 9 |
Impaired loans, interest income recognized | 33 | 44 |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 215 | ' |
Impaired loans with an allowance recorded, recorded investment | ' | ' |
Impaired loans, recorded investment | 215 | ' |
Impaired loans with no related allowance recorded, unpaid principal balance | 215 | ' |
Impaired loans with an allowance recorded, unpaid principal balance | ' | ' |
Impaired loans, unpaid principal balance | 215 | ' |
Impaired loans, related allowance | ' | ' |
Impaired loans with no related allowance recorded, average recorded investment | 218 | ' |
Impaired loans with an allowance recorded, average recorded investment | ' | ' |
Impaired loans, average recorded investment | 218 | ' |
Impaired loans with no related allowance recorded, interest income recognized | 8 | ' |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | 8 | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 1,816 | 1,207 |
Impaired loans with an allowance recorded, recorded investment | 128 | 518 |
Impaired loans, recorded investment | 1,944 | 1,725 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,816 | 1,207 |
Impaired loans with an allowance recorded, unpaid principal balance | 128 | 518 |
Impaired loans, unpaid principal balance | 1,944 | 1,725 |
Impaired loans, related allowance | 8 | 216 |
Impaired loans with no related allowance recorded, average recorded investment | 2,016 | 1,244 |
Impaired loans with an allowance recorded, average recorded investment | 129 | 541 |
Impaired loans, average recorded investment | 2,145 | 1,785 |
Impaired loans with no related allowance recorded, interest income recognized | 37 | 19 |
Impaired loans with an allowance recorded, interest income recognized | 8 | 11 |
Impaired loans, interest income recognized | 45 | 30 |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | 772 | 853 |
Impaired loans with an allowance recorded, recorded investment | ' | ' |
Impaired loans, recorded investment | 772 | 853 |
Impaired loans with no related allowance recorded, unpaid principal balance | 772 | 853 |
Impaired loans with an allowance recorded, unpaid principal balance | ' | ' |
Impaired loans, unpaid principal balance | 772 | 853 |
Impaired loans, related allowance | ' | ' |
Impaired loans with no related allowance recorded, average recorded investment | 790 | 865 |
Impaired loans with an allowance recorded, average recorded investment | ' | ' |
Impaired loans, average recorded investment | 790 | 865 |
Impaired loans with no related allowance recorded, interest income recognized | 11 | 12 |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | 11 | 12 |
Consumer [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded, recorded investment | ' | 3 |
Impaired loans with an allowance recorded, recorded investment | ' | ' |
Impaired loans, recorded investment | ' | 3 |
Impaired loans with no related allowance recorded, unpaid principal balance | ' | 3 |
Impaired loans with an allowance recorded, unpaid principal balance | ' | ' |
Impaired loans, unpaid principal balance | ' | 3 |
Impaired loans, related allowance | ' | ' |
Impaired loans with no related allowance recorded, average recorded investment | ' | 6 |
Impaired loans with an allowance recorded, average recorded investment | ' | ' |
Impaired loans, average recorded investment | ' | 6 |
Impaired loans with no related allowance recorded, interest income recognized | ' | ' |
Impaired loans with an allowance recorded, interest income recognized | ' | ' |
Impaired loans, interest income recognized | ' | ' |
Loans_Receivable_Credit_Qualit7
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Schedule of Number of Loans and Recorded Investment in Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | 22 | ' |
Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | 1 |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | $177 |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | 177 |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | ' |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | 2 |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | 872 |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | 872 |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | 2 |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | 785 |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | 785 |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | ' |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | 1 | ' |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | 63 | ' |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | 63 | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | 1 |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | 415 |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | 415 |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | 415 |
Consumer [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructurings, Number of Contracts | ' | ' |
Troubled Debt Restructurings, Pre-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings, Post-Modification Outstanding Recorded Investment | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' |
Loans_Receivable_Credit_Qualit8
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Schedule of Allowance for Loan Losses by Loan Portfolio Segments (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | $3,736 | $3,423 |
Allowance for Loan Losses, Charge-offs | 772 | 920 |
Allowance for Loan Losses, Recoveries | 59 | 93 |
Allowance for Loan Losses, Provision | 640 | 1,140 |
Allowance for Loan Losses, Ending balance | 3,663 | 3,736 |
Ending balance individually evaluated for impairment | 9 | 366 |
Ending balance collectively evaluated for impairment | 3,654 | 3,370 |
Ending balance | 323,337 | 237,848 |
Ending balance: individually evaluated for impairment | 12,097 | 8,978 |
Ending balance: collectively evaluated for impairment | 311,240 | 228,870 |
Commercial [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 545 | 693 |
Allowance for Loan Losses, Charge-offs | ' | 268 |
Allowance for Loan Losses, Recoveries | 30 | 91 |
Allowance for Loan Losses, Provision | -151 | 29 |
Allowance for Loan Losses, Ending balance | 424 | 545 |
Ending balance individually evaluated for impairment | 1 | 2 |
Ending balance collectively evaluated for impairment | 423 | 543 |
Ending balance | 37,253 | 23,423 |
Ending balance: individually evaluated for impairment | 1,023 | 908 |
Ending balance: collectively evaluated for impairment | 36,230 | 22,515 |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 841 | 525 |
Allowance for Loan Losses, Charge-offs | ' | 186 |
Allowance for Loan Losses, Recoveries | ' | ' |
Allowance for Loan Losses, Provision | 34 | 502 |
Allowance for Loan Losses, Ending balance | 875 | 841 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 875 | 841 |
Ending balance | 77,817 | 66,694 |
Ending balance: individually evaluated for impairment | 5,895 | 3,082 |
Ending balance: collectively evaluated for impairment | 71,922 | 63,612 |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 774 | 593 |
Allowance for Loan Losses, Charge-offs | 222 | 353 |
Allowance for Loan Losses, Recoveries | 26 | ' |
Allowance for Loan Losses, Provision | 253 | 534 |
Allowance for Loan Losses, Ending balance | 831 | 774 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 831 | 774 |
Ending balance | 68,400 | 50,626 |
Ending balance: individually evaluated for impairment | 1,172 | 991 |
Ending balance: collectively evaluated for impairment | 67,228 | 49,635 |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 456 | 365 |
Allowance for Loan Losses, Charge-offs | 167 | 52 |
Allowance for Loan Losses, Recoveries | 1 | ' |
Allowance for Loan Losses, Provision | 83 | 143 |
Allowance for Loan Losses, Ending balance | 373 | 456 |
Ending balance individually evaluated for impairment | ' | 148 |
Ending balance collectively evaluated for impairment | 373 | 308 |
Ending balance | 26,201 | 27,885 |
Ending balance: individually evaluated for impairment | 1,076 | 1,416 |
Ending balance: collectively evaluated for impairment | 25,125 | 26,469 |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 143 | 147 |
Allowance for Loan Losses, Charge-offs | ' | ' |
Allowance for Loan Losses, Recoveries | ' | ' |
Allowance for Loan Losses, Provision | 1 | -4 |
Allowance for Loan Losses, Ending balance | 144 | 143 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 144 | 143 |
Ending balance | 12,594 | 12,623 |
Ending balance: individually evaluated for impairment | 215 | ' |
Ending balance: collectively evaluated for impairment | 12,379 | 12,623 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 582 | 680 |
Allowance for Loan Losses, Charge-offs | 314 | 31 |
Allowance for Loan Losses, Recoveries | ' | 2 |
Allowance for Loan Losses, Provision | 299 | -69 |
Allowance for Loan Losses, Ending balance | 567 | 582 |
Ending balance individually evaluated for impairment | 8 | 216 |
Ending balance collectively evaluated for impairment | 559 | 366 |
Ending balance | 81,122 | 41,487 |
Ending balance: individually evaluated for impairment | 1,944 | 1,725 |
Ending balance: collectively evaluated for impairment | 79,178 | 39,762 |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 72 | 63 |
Allowance for Loan Losses, Charge-offs | 65 | ' |
Allowance for Loan Losses, Recoveries | ' | ' |
Allowance for Loan Losses, Provision | 96 | 9 |
Allowance for Loan Losses, Ending balance | 103 | 72 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 103 | 72 |
Ending balance | 17,531 | 12,812 |
Ending balance: individually evaluated for impairment | 772 | 853 |
Ending balance: collectively evaluated for impairment | 16,759 | 11,959 |
Consumer [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 26 | 24 |
Allowance for Loan Losses, Charge-offs | 4 | 30 |
Allowance for Loan Losses, Recoveries | 2 | ' |
Allowance for Loan Losses, Provision | 6 | 32 |
Allowance for Loan Losses, Ending balance | 30 | 26 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 30 | 26 |
Ending balance | 2,419 | 2,298 |
Ending balance: individually evaluated for impairment | ' | 3 |
Ending balance: collectively evaluated for impairment | 2,419 | 2,295 |
Unallocated [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Allowance for Loan Losses, Beginning balance | 297 | 333 |
Allowance for Loan Losses, Charge-offs | ' | ' |
Allowance for Loan Losses, Recoveries | ' | ' |
Allowance for Loan Losses, Provision | 19 | -36 |
Allowance for Loan Losses, Ending balance | 316 | 297 |
Ending balance individually evaluated for impairment | ' | ' |
Ending balance collectively evaluated for impairment | 316 | 297 |
Ending balance | ' | ' |
Ending balance: individually evaluated for impairment | ' | ' |
Ending balance: collectively evaluated for impairment | ' | ' |
Loans_Receivable_Credit_Qualit9
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Credit Quality Indicators and Total Credit Exposure by Internally Assigned Grades (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | $323,337 | $237,848 |
Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 861 | 161 |
Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 7,328 | 6,738 |
Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 286,059 | 203,133 |
Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 15,357 | 13,840 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5,792 | 7,672 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 7,940 | 6,304 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 37,253 | 23,423 |
Commercial [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 682 | 161 |
Commercial [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 4,652 | 3,768 |
Commercial [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 29,519 | 16,980 |
Commercial [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 916 | 652 |
Commercial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 376 | 954 |
Commercial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,108 | 908 |
Commercial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Non-owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 77,817 | 66,694 |
Commercial Real Estate Non-owner Occupied [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Non-owner Occupied [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 208 | 239 |
Commercial Real Estate Non-owner Occupied [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 71,375 | 61,779 |
Commercial Real Estate Non-owner Occupied [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,596 | 250 |
Commercial Real Estate Non-owner Occupied [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,616 | 3,779 |
Commercial Real Estate Non-owner Occupied [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,022 | 647 |
Commercial Real Estate Non-owner Occupied [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Non-owner Occupied [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 68,400 | 50,626 |
Commercial Real Estate Owner Occupied [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Owner Occupied [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,184 | 2,392 |
Commercial Real Estate Owner Occupied [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 59,884 | 43,353 |
Commercial Real Estate Owner Occupied [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 4,235 | 3,279 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 904 | 590 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,193 | 1,012 |
Commercial Real Estate Owner Occupied [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate Owner Occupied [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate 1-4 Family Investment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 26,201 | 27,885 |
Commercial Real Estate 1-4 Family Investment [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate 1-4 Family Investment [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 59 | 68 |
Commercial Real Estate 1-4 Family Investment [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 18,928 | 17,062 |
Commercial Real Estate 1-4 Family Investment [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5,062 | 8,218 |
Commercial Real Estate 1-4 Family Investment [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,187 | 1,349 |
Commercial Real Estate 1-4 Family Investment [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 965 | 1,188 |
Commercial Real Estate 1-4 Family Investment [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Real Estate 1-4 Family Investment [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Land and Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 12,594 | 12,623 |
Commercial Land and Land Development [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Land and Land Development [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 195 | 212 |
Commercial Land and Land Development [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 11,670 | 11,290 |
Commercial Land and Land Development [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 298 | 653 |
Commercial Land and Land Development [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 216 | 468 |
Commercial Land and Land Development [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 215 | ' |
Commercial Land and Land Development [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Commercial Land and Land Development [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 81,122 | 41,487 |
Residential Real Estate [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Residential Real Estate [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Residential Real Estate [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 76,298 | 39,313 |
Residential Real Estate [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,735 | 17 |
Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 127 | 164 |
Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,962 | 1,993 |
Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Residential Real Estate [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Home Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 17,531 | 12,812 |
Home Equity Lines of Credit [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Home Equity Lines of Credit [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 30 | 59 |
Home Equity Lines of Credit [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 16,145 | 11,061 |
Home Equity Lines of Credit [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 515 | 771 |
Home Equity Lines of Credit [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 366 | 368 |
Home Equity Lines of Credit [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 475 | 553 |
Home Equity Lines of Credit [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Home Equity Lines of Credit [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,419 | 2,298 |
Consumer [Member] | Excellent [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 179 | ' |
Consumer [Member] | Good [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Consumer [Member] | Satisfactory [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,240 | 2,295 |
Consumer [Member] | Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Consumer [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Consumer [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | 3 |
Consumer [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Consumer [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | ' | ' |
Recovered_Sheet1
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Loans Purchased in Union Transaction (Detail) (USD $) | Nov. 01, 2013 |
In Thousands, unless otherwise specified | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | $102,994 |
Contractual cash flows not expected to be collected | -14,979 |
Expected cash flows at acquisition | 88,015 |
Interest component of expected cash flows | -12,664 |
Basis in acquired loans at acquisition - estimated fair value | 75,351 |
Purchased Credit Impaired Loans [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | 10,290 |
Contractual cash flows not expected to be collected | -5,487 |
Expected cash flows at acquisition | 4,803 |
Interest component of expected cash flows | -386 |
Basis in acquired loans at acquisition - estimated fair value | 4,417 |
Purchased Non-Impaired Loans [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Contractually required principal and interest at acquisition | 92,704 |
Contractual cash flows not expected to be collected | -9,492 |
Expected cash flows at acquisition | 83,212 |
Interest component of expected cash flows | -12,278 |
Basis in acquired loans at acquisition - estimated fair value | $70,934 |
Recovered_Sheet2
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Unpaid Principal Balances and Related Carrying Amount of Acquired Loans (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Outstanding balance | $77,368 |
Carrying Amount | 72,695 |
Credit Impaired Purchased Loans Evaluated Individually for Incurred Credit Losses [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Outstanding balance | 7,010 |
Carrying Amount | 4,411 |
Other Purchased Loans Evaluated Collectively for Incurred Credit Losses [Member] | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' |
Outstanding balance | 70,358 |
Carrying Amount | $68,284 |
Recovered_Sheet3
Loans Receivable, Credit Quality for Loans and the Allowance for Loan Losses - Summary of Changes in Accretable Discount Related to Purchased Credit Impaired Loans (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Receivables [Abstract] | ' |
Balance - beginning of period | ' |
Union acquisition | 386 |
Accretion recognized during the period | -23 |
Net reclassification from non-accretable to accretable | 15 |
Balance - end of period | $378 |
Premises_and_Equipment_Schedul
Premises and Equipment - Schedule of Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Land [Member] | Land [Member] | Land [Member] | Land [Member] | Bank Premises [Member] | Bank Premises [Member] | Bank Premises [Member] | Bank Premises [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Furnishings and Equipment [Member] | Furnishings and Equipment [Member] | Furnishings and Equipment [Member] | Furnishings and Equipment [Member] | Construction in Progress [Member] | Construction in Progress [Member] | Construction in Progress [Member] | Construction in Progress [Member] | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premises and equipment, Estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '50 years | ' | ' | '10 years | '30 years | ' | ' | '3 years | '10 years | ' | ' | ' | ' |
Premises and equipment, Gross | $14,408 | $10,502 | $1,410 | $741 | ' | ' | $8,876 | $4,618 | ' | ' | $131 | $2,531 | ' | ' | $3,898 | $2,602 | ' | ' | $93 | $10 | ' | ' |
Accumulated depreciation | -6,056 | -3,340 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premises and equipment, Net | $8,352 | $7,162 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premises_and_Equipment_Additio
Premises and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Property Plant And Equipment [Abstract] | ' | ' |
Length of operating lease agreement | '15 years | ' |
Expense for operating leases | $294,000 | $303,000 |
Capital lease, Term | '15 years | ' |
Capital lease, Renewable term | '5 years | ' |
Capital lease, Future estimated expense | 1,851,861 | ' |
Capital lease, Future estimated expense if option to purchase premises is exercised | $1,411,315 | ' |
Premises_and_Equipment_Schedul1
Premises and Equipment - Schedule of Future Minimum Lease Payments under Non-Cancelable Lease Arrangements (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Property Plant And Equipment [Abstract] | ' |
2014 | $279 |
2015 | 267 |
2016 | 247 |
2017 | 83 |
2018 | 58 |
Thereafter | $549 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Goodwill and intangible assets | $3,968,000 | $2,844,000 |
Goodwill | 2,297,000 | 2,297,000 |
Intangible assets | 1,670,000 | 547,000 |
Increase in intangible assets | 1,123,000 | ' |
Amortization expense | 141,000 | 27,000 |
Impairment of goodwill | 0 | 0 |
Core Deposit Intangibles [Member] | Union Bank [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset acquired | 1,264,000 | ' |
Amortization of intangible asset period | '12 years | ' |
Customer List Intangible [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible asset acquired | ' | $463,000 |
Amortization of intangible asset period | '10 years | '10 years |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Summary of Gross Carrying Amount and Accumulated Amortization Related to Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | $1,957 | $691 |
Intangible assets, Accumulated Amortization | 287 | 144 |
Core Deposit Intangibles [Member] | HNB [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 173 | 173 |
Intangible assets, Accumulated Amortization | 126 | 107 |
Core Deposit Intangibles [Member] | Union Bank [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 1,264 | ' |
Intangible assets, Accumulated Amortization | 32 | ' |
Customer List Intangible [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 463 | 463 |
Intangible assets, Accumulated Amortization | 84 | ' |
Loan Servicing Rights [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross Carrying Amount | 57 | 55 |
Intangible assets, Accumulated Amortization | $45 | $37 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Estimation of Amortization Expense (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2014 | $286 |
2015 | 259 |
2016 | 231 |
2017 | 194 |
2018 | 169 |
Thereafter | 519 |
Total amortization expense for intangibles | $1,658 |
Deposits_Summary_of_Deposits_D
Deposits - Summary of Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Banking And Thrift Interest [Abstract] | ' | ' |
Non-interest bearing demand | $50,181 | $24,526 |
Interest-bearing demand | 127,992 | 97,576 |
Savings | 90,919 | 48,342 |
Time | 113,253 | 99,001 |
Total Deposits | $382,345 | $269,445 |
Non-interest bearing demand, Average Rate | 0.00% | 0.00% |
Interest-bearing demand, Average Rate | 0.49% | 0.95% |
Savings, Average Rate | 0.46% | 0.34% |
Time, Average Rate | 1.42% | 1.84% |
Deposits_Schedule_of_Contractu
Deposits - Schedule of Contractual Maturities of Time Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Banking And Thrift Interest [Abstract] | ' | ' |
2014 | $56,654 | ' |
2015 | 21,163 | ' |
2016 | 9,652 | ' |
2017 | 18,606 | ' |
2018 | 6,763 | ' |
Thereafter | 415 | ' |
Total | $113,253 | $99,001 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Banking And Thrift Interest [Abstract] | ' | ' |
Time deposits of $100,000 or more | $39,850,000 | $39,340,000 |
Interest expense on time deposits of $100,000 or more | 490,000 | 612,000 |
Deposits from executive officers, directors and others | $3,707,000 | $1,277,000 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | 30-May-12 | |
Unsecured Debt [Member] | Atlantic Central Bankers Bank [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit | $6,250,000 | $6,250,000 | ' |
Outstanding line of credit | 0 | 0 | ' |
Secured Debt [Member] | ACNB Bank [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit | 3,000,000 | ' | ' |
Line of credit, fixed interest rate | 3.99% | ' | ' |
Line of credit, change in interest rate date | 11-Jan-16 | ' | ' |
Line of credit, floating interest rate description | 'Interest rate will be adjusted every three years and indexed to the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of three years, as made available by the Federal Reserve, plus 3%, rounded up to the nearest 0.125%, with a floor of 4.50%. | ' | ' |
Line of credit, floating interest rate | 3.00% | ' | ' |
Line of credit, payment terms | 'Monthly interest only payments until January 11, 2016. Thereafter, each advance shall require180 consecutive monthly principal and interest payments in an amount sufficient to fully amortize the advance over 15 years. | ' | ' |
Line of credit, maturity date | 11-Jan-18 | ' | ' |
Line of credit, secured by common stock | 875,000 | ' | ' |
Line of credit, terms | 'The term is a twelve month revolving draw period followed by a 48 month non-revolving draw period. The maximum term of the facility for draws is 60 months followed by a principal repayment term. | ' | ' |
Line of credit, floating interest rate adjustment period | '3 years | ' | ' |
Line of credit, floating interest rate, rounded | 0.13% | ' | ' |
Borrowed line of credit | 3,000,000 | ' | ' |
Borrowed line of credit payoff date | 11-Jan-14 | ' | ' |
Secured Debt [Member] | ACNB Bank [Member] | Minimum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit, floating interest rate | 4.50% | ' | ' |
Secured Debt [Member] | The Gratz Bank [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Line of credit | 2,000,000 | ' | 1,500,000 |
Outstanding line of credit | 2,000,000 | 2,000,000 | ' |
Line of credit, fixed interest rate | 5.50% | ' | ' |
Line of credit, change in interest rate date | 30-Jul-15 | ' | ' |
Line of credit, floating interest rate description | '1% above the base Wall Street Journal U.S. prime rate | ' | ' |
Line of credit, floating interest rate | 1.00% | ' | ' |
Line of credit, payment terms | 'Interest only payments are due monthly, followed by monthly principal and interest payments beginning August 30, 2015. | ' | ' |
Line of credit, maturity date | 30-Jul-25 | ' | ' |
Line of credit, secured by common stock | 300,000 | ' | ' |
Federal Home Loan Bank of Pittsburgh [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Maximum borrowing capacity | 120,572,000 | ' | ' |
Real estate loans pledged as collateral | $175,143,000 | ' | ' |
Borrowings_Summary_of_ShortTer
Borrowings - Summary of Short-Term Borrowings (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ' | ' |
Short term borrowings | ' | $11,000 |
Weighted average rate at end of year | ' | 0.25% |
Maximum amount outstanding at any end of month | ' | 11,821 |
Daily average amount outstanding | ' | 6,202 |
Approximate weighted average interest rate for year | ' | 0.26% |
Federal Home Loan Bank of Pittsburgh [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short term borrowings | ' | $11,000 |
Borrowings_Summary_of_LongTerm
Borrowings - Summary of Long-Term Arrangements of FHLB (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Borrowings | $10,000 | $9,550 |
Federal Home Loan Bank of Pittsburgh [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowings | 5,000 | 7,550 |
Fixed Rate [Member] | Federal Home Loan Bank of Pittsburgh [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Maturity Date | 18-Jun-13 | ' |
Interest Rate | 2.67% | ' |
Borrowings | ' | 2,550 |
Fixed Rate Until 4/9/2013 [Member] | Federal Home Loan Bank of Pittsburgh [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Maturity Date | 9-Apr-18 | ' |
Interest Rate | 2.90% | ' |
Borrowings | $5,000 | $5,000 |
Borrowings_Summary_of_LongTerm1
Borrowings - Summary of Long-Term Arrangements of FHLB (Parenthetical) (Detail) (Federal Home Loan Bank of Pittsburgh [Member], Fixed Rate Until 4/9/2013 [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Federal Home Loan Bank of Pittsburgh [Member] | Fixed Rate Until 4/9/2013 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate terms | 'Convertible select fixed rate to a floating rate of 3 month Libor plus 23 basis points resetting quarterly at the discretion of the FHLB. |
Floating rate, basis points | 0.23% |
Borrowings_Scheduled_Contractu
Borrowings - Scheduled Contractual Maturities of FHLB Borrowings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total | $10,000 | $9,550 |
Federal Home Loan Bank of Pittsburgh [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
2018 | 5,000 | ' |
Total | $5,000 | $7,550 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Jan. 03, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 04, 2012 | Jan. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
Agreement | 10.35 [Member] | 10.60 [Member] | 2009 Stock Option Plan [Member] | 2009 Stock Option Plan [Member] | 2009 Stock Option Plan [Member] | Deferred Compensation Agreements [Member] | Deferred Compensation Agreements [Member] | Director Emeritus [Member] | Director Emeritus [Member] | Two Executives [Member] | Three Executives [Member] | |||
Installment | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan, employer matching contribution, percentage | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan, maximum percentage of employees' compensation | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan, expenses | ' | $332,000 | $258,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan, discretionary contributions | ' | 204,000 | 168,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' |
Benefits period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '15 years | '20 years |
Number of monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' |
Compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 80,000 | 88,000 | 38,000 | 30,000 | ' | ' |
Number of SERP agreements | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued benefit obligations of deferred compensation plans | ' | 1,220,000 | 673,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lump sum payment to director | 178,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate number of common stock that may be issued or transferred | ' | ' | ' | ' | ' | ' | 220,000 | 170,000 | ' | ' | ' | ' | ' | ' |
Options exercise price | ' | $10.58 | $10.58 | ' | ' | ' | ' | $10.60 | ' | ' | ' | ' | ' | ' |
Options vesting period | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' |
Options vesting percentage | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Options expiration period | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' |
Option grants fully vested | ' | ' | ' | ' | ' | 179,250 | ' | ' | ' | ' | ' | ' | ' | ' |
Additional expense | ' | ' | ' | ' | ' | 117,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of outstanding stock options | ' | 179,250 | 179,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding stock options, Intrinsic value | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value of stock | ' | $9.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of outstanding stock options exercisable | ' | 179,250 | ' | 15,000 | 164,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options Outstanding, Range of exercise price, Lower | ' | $10.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options Outstanding, Range of exercise price, Upper | ' | $10.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net actuarial gain or loss expected to be amortized | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated benefit obligation amount | ' | $3,923,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Summary
Employee Benefit Plans - Summary of Stock Option Plan (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Outstanding - January 1, 2013, Shares | 179,250 | ' |
Granted, Shares | ' | ' |
Forfeited, Shares | ' | ' |
Exercised, Shares | ' | ' |
Outstanding - December 31, 2013, Shares | 179,250 | 179,250 |
Options exercisable at year end | 179,250 | ' |
Weighted average fair value of options per share granted during the year | $10.58 | ' |
Remaining contractual life | '6 years | ' |
Outstanding - January 1, 2013, Weighted Average Exercise Price Per Share | $10.58 | ' |
Granted, Weighted Average Exercise Price Per Share | ' | ' |
Forfeited, Weighted Average Exercise Price Per Share | ' | ' |
Exercised, Weighted Average Exercise Price Per Share | ' | ' |
Outstanding - December 31, 2013, Weighted Average Exercise Price Per Share | $10.58 | $10.58 |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans - Schedule of Weighted Average Assumptions of Fair Value of Option Granted (Detail) (2012 Option Grants January [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
2012 Option Grants January [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Dividend yield | 5.07% |
Expected life | '8 years 6 months |
Expected volatility | 69.22% |
Risk-free interest rate | 1.41% |
Employee_Benefit_Plans_Schedul1
Employee Benefit Plans - Schedule of Information Pertaining to Options Outstanding (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Options Outstanding, Range of exercise price, Lower | $10.35 | ' |
Options Outstanding, Range of exercise price, Upper | $10.60 | ' |
Options Outstanding, Number Outstanding | 179,250 | 179,250 |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years | ' |
Options Outstanding, Weighted Average Exercise Price | $10.58 | ' |
Options Exercisable, Number Exercisable | 179,250 | ' |
Options Exercisable, Weighted Average Exercise Price | $10.58 | ' |
Options Exercisable, Weighted Average Remaining Contractual Life | '6 years | ' |
Employee_Benefit_Plans_Schedul2
Employee Benefit Plans - Schedule of Plan's Funded Status (Detail) (USD $) | 2 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Change in benefit obligations: | ' |
Benefit obligation beginning November 1, 2013 | $3,908 |
Interest cost | 28 |
Actuarial cost | ' |
Change in actuarial assumption | 7 |
Benefit payments | -20 |
Benefit obligation at end of year | 3,923 |
Change in plan assets: | ' |
Fair value of plan assets at November 1, 2013 | 3,642 |
Actual return on plan assets | 52 |
Benefit paid | -20 |
Fair value of plan assets at end of year | 3,674 |
Funded status included in other liabilities | ($249) |
Employee_Benefit_Plans_Schedul3
Employee Benefit Plans - Schedule of Amounts Related to Plan Recognized in Accumulated Other Comprehensive Loss but not Yet Recognized as Component of Net Periodic Pension Cost (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postemployment Benefits [Abstract] | ' |
Net loss | $9 |
Employee_Benefit_Plans_Schedul4
Employee Benefit Plans - Schedule of Net Periodic Pension Expense (Detail) (USD $) | 2 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Postemployment Benefits [Abstract] | ' |
Interest cost | $28 |
Expected return on plan assets | -32 |
Net periodic pension expense | ($4) |
Employee_Benefit_Plans_Summary1
Employee Benefit Plans - Summary of Actuarial Assumptions Used for Company's Pension Plan (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Postemployment Benefits [Abstract] | ' |
Discount rate | 4.60% |
Expected long-term rate of return on plan assets | 6.00% |
Employee_Benefit_Plans_Schedul5
Employee Benefit Plans - Schedule of Expected Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postemployment Benefits [Abstract] | ' |
2014 | $227 |
2015 | 229 |
2016 | 226 |
2017 | 219 |
2018 | 215 |
2019 - 2023 | 1,136 |
Total | $2,252 |
Employee_Benefit_Plans_Schedul6
Employee Benefit Plans - Schedule of Company's Pension Plan Asset Allocations, by Asset Category (Detail) | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Pension plan asset allocations | 100.00% |
Cash and Cash Equivalents [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Pension plan asset allocations | 0.54% |
Equity Securities, Financial Services [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Pension plan asset allocations | 75.95% |
Fixed Income Securities [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Pension plan asset allocations | 23.51% |
Employee_Benefit_Plans_Schedul7
Employee Benefit Plans - Schedule of Fair Value of Company's Pension Plan Assets, by Asset Category (Detail) (USD $) | Dec. 31, 2013 | Nov. 01, 2013 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | $3,674 | $3,642 |
Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 20 | ' |
One Year Fixed Income Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 864 | ' |
Short-Term Investment Grade Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 1,079 | ' |
GNMA Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 215 | ' |
Index 500 Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 314 | ' |
Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 366 | ' |
Mid Cap Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 157 | ' |
U.S. Targeted Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 210 | ' |
Emerging Markets Core Equity Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 114 | ' |
Real Estate Securities Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 44 | ' |
International Value Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 269 | ' |
International Real Estate Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 22 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 3,674 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 20 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | One Year Fixed Income Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 864 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Short-Term Investment Grade Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 1,079 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | GNMA Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 215 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Index 500 Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 314 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 366 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mid Cap Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 157 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Targeted Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 210 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Emerging Markets Core Equity Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 114 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Real Estate Securities Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 44 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Value Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 269 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | International Real Estate Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | 22 | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | One Year Fixed Income Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Short-Term Investment Grade Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | GNMA Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Index 500 Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Mid Cap Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Targeted Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Emerging Markets Core Equity Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Real Estate Securities Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | International Value Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | International Real Estate Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | One Year Fixed Income Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Short-Term Investment Grade Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | GNMA Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Index 500 Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Mid Cap Value Index Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Targeted Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Emerging Markets Core Equity Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate Securities Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Value Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | International Real Estate Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of pension plan assets | ' | ' |
Taxes_Summary_of_Income_Tax_Ex
Taxes - Summary of Income Tax Expense (Benefit) and Related Effective Income Tax Rates (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Tax at statutory rates, Amount | $412 | $674 |
Tax-exempt interest income, Amount | -273 | -273 |
Life insurance income, Amount | -75 | -92 |
Interest disallowance, Amount | 11 | 17 |
Low income housing credit, Amount | -123 | ' |
Bargain purchase gain, Amount | -214 | ' |
Other, Amount | 12 | -8 |
Federal Income Taxes, Amount | ($250) | $318 |
Tax at statutory rates, Percentage | 34.00% | 34.00% |
Tax-exempt interest income, Percentage | -23.00% | -14.00% |
Life insurance income, Percentage | -6.00% | -5.00% |
Interest disallowance, Percentage | 1.00% | 1.00% |
Low income housing credit, Percentage | -10.00% | ' |
Bargain purchase gain, Percentage | -18.00% | ' |
Other, Percentage | 1.00% | ' |
Federal Income Taxes, Percentage | -21.00% | 16.00% |
Taxes_Summary_of_Current_and_D
Taxes - Summary of Current and Deferred Portions of Income Taxes (Benefits) (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Current tax | $517 | $424 |
Deferred tax benefit | -767 | -106 |
Applicable Federal Income Tax (Benefit) | ($250) | $318 |
Taxes_Schedule_of_Deferred_Tax
Taxes - Schedule of Deferred Tax Assets and Liabilities Included in Other Assets on Consolidated Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for loan losses | $759 | $1,090 |
Non-accrual loan interest | 185 | 139 |
Deferred compensation | 506 | 267 |
Purchase accounting adjustments | 787 | 72 |
Alternative minimum tax credit carryforwards | 455 | ' |
OREO valuation | 149 | ' |
Acquisition costs Union | 288 | ' |
Unfunded pension liability | 89 | ' |
Low income housing credit carryforwards | 897 | ' |
Net operating loss carryforwards | 641 | ' |
Unrealized loss on investment securities | 280 | ' |
Valuation allowance on the fair value of investment securities acquired | 123 | ' |
Other | 46 | 40 |
Total Deferred tax assets | 5,205 | 1,608 |
Deferred tax liabilities: | ' | ' |
Accumulated depreciation | -570 | -324 |
Unrealized gain on investment securities | ' | -325 |
Other | ' | -8 |
Total Deferred tax liabilities | -570 | -657 |
Net Deferred Tax Asset | $4,635 | $951 |
Taxes_Additional_Information_D
Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Net gain from the sale of available-for-sale securities | $117,000 | $770,000 |
Tax rate | 34.00% | 34.00% |
Net gain from the sale of available-for-sale securities, tax amount | $40,000 | $262,000 |
Low income housing credits carried forward period | '20 years | ' |
Net operating losses carried forward period | '20 years | ' |
Low income housing credits carried forward description | 'The low income housing credits (bLIHCb) and net operating losses (bNOLb) can both be carried forward for 20 years. The LIHC credits have accumulated for 2006-2013 and will not expire until 2026-2033. | ' |
Net operating losses carried forward description | 'The low income housing credits (bLIHCb) and net operating losses (bNOLb) can both be carried forward for 20 years. The NOL has accumulated for 2010 - 2013 and will not expire until 2030-2033. | ' |
Financial_Instruments_with_Off2
Financial Instruments with Off Balance Sheet Risk - Additional Information (Detail) (Maximum [Member]) | Dec. 31, 2013 |
Maximum [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Loan to value ratio | 80 |
Financial_Instruments_with_Off3
Financial Instruments with Off Balance Sheet Risk - Schedule of Bank's Exposure to Credit Loss (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contract or Notional Amount | $46,840 | $36,407 |
Commitments to Grant Loans [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contract or Notional Amount | 17,060 | 13,262 |
Unfunded Commitments of Existing Loans [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contract or Notional Amount | 26,785 | 21,396 |
Standby and Performance Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contract or Notional Amount | $2,995 | $1,749 |
Concentrations_of_Credit_Risk_1
Concentrations of Credit Risk - Additional Information (Detail) (Minimum [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration of credit risk, loan concentration percentage | 10.00% |
Concentrations_of_Credit_Risk_2
Concentrations of Credit Risk - Schedule of Loan Concentrations (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Residential Buildings and Dwellings [Member] | ' | ' |
Loans to Lessors of: | ' | ' |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $45,815 | $44,954 |
Nonresidential Buildings [Member] | ' | ' |
Loans to Lessors of: | ' | ' |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $35,946 | $37,572 |
Regulatory_Matters_and_Shareho2
Regulatory Matters and Shareholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Banking And Thrift [Abstract] | ' |
Undistributed earnings of the Bank | $1,499,000 |
Regulatory_Matters_and_Shareho3
Regulatory Matters and Shareholders' Equity - Schedule of Bank's Actual Capital Ratios and Minimum Ratios Required for Capital Adequacy Purposes (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital (to risk-weighted assets), Actual, Amount | $35,504 | $28,064 |
Tier 1 capital (to risk-weighted assets), Actual, Amount | 31,835 | 25,157 |
Tier 1 capital (to average total assets), Actual, Amount | 31,835 | 25,157 |
Total risk-based capital (to risk-weighted assets), Actual, Ratio | 11.50% | 12.10% |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 10.30% | 10.90% |
Tier 1 capital (to average total assets), Actual, Ratio | 8.20% | 8.10% |
Minimum [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital (to risk-weighted assets), For Capital Adequacy Purposes, Amount | 24,688 | 18,537 |
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Purposes, Amount | 12,344 | 9,268 |
Tier 1 capital (to average total assets), For Capital Adequacy Purposes, Amount | 15,494 | 12,403 |
Total risk-based capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average total assets), For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Total risk-based capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | 30,860 | 23,171 |
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | 18,516 | 13,903 |
Tier 1 capital (to average total assets), To be Well Capitalized under Prompt Corrective Action Provisions, Amount | $19,368 | $15,503 |
Total risk-based capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 6.00% | 6.00% |
Tier 1 capital (to average total assets), To be Well Capitalized under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Fair_Value_Measurements_and_Fa2
Fair Value Measurements and Fair Values of Financial Instruments - Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | $57,246 | $45,101 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 57,246 | 45,101 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 57,246 | 45,101 |
Fair Value Measurements Recurring [Member] | U.S. Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 1,356 | 3,506 |
Fair Value Measurements Recurring [Member] | State and Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 37,043 | 22,853 |
Fair Value Measurements Recurring [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 13,141 | 13,006 |
Fair Value Measurements Recurring [Member] | Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 3,330 | 5,736 |
Fair Value Measurements Recurring [Member] | Corporate Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 1,851 | ' |
Fair Value Measurements Recurring [Member] | Equity Securities, Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 525 | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | State and Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities, Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 57,246 | 45,101 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 1,356 | 3,506 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 37,043 | 22,853 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 13,141 | 13,006 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 3,330 | 5,736 |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 1,851 | ' |
Fair Value Measurements Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities, Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 525 | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | State and Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Collateralized Mortgage Obligations (CMOs) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair Value Measurements Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities, Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | ' | ' |
Fair_Value_Measurements_and_Fa3
Fair Value Measurements and Fair Values of Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Disclosures [Abstract] | ' | ' |
Impaired loans | $12,097,000 | $8,978,000 |
Impaired loans, valuation allowance | 294,000 | 1,038,000 |
Impaired loans valuation allowance | 9,000 | 366,000 |
Impairment of goodwill | $0 | $0 |
Fair_Value_Measurements_and_Fa4
Fair Value Measurements and Fair Values of Financial Instruments - Summary of Assets Measured at Estimated Fair Value on Nonrecurring Basis (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Measurements Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Gains/Losses | ($580) | ($122) |
Fair Value Measurements Recurring [Member] | Loans Held For Sale [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Gains/Losses | ' | ' |
Fair Value Measurements Recurring [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Gains/Losses | -580 | -122 |
Fair Value Measurements Recurring [Member] | Impaired Loans, Net of Related Allowance [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Gains/Losses | ' | ' |
Fair Value Measurements Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 245 | 830 |
Other real estate owned | 1,127 | 1,909 |
Impaired loans, net of related allowance | 285 | 672 |
Total | 1,657 | 3,411 |
Fair Value Measurements Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | ' | ' |
Other real estate owned | ' | ' |
Impaired loans, net of related allowance | ' | ' |
Total | ' | ' |
Fair Value Measurements Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | 245 | 830 |
Other real estate owned | 1,021 | 1,909 |
Impaired loans, net of related allowance | 285 | 501 |
Total | 1,551 | 3,240 |
Fair Value Measurements Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans held for sale | ' | ' |
Other real estate owned | 106 | ' |
Impaired loans, net of related allowance | ' | 171 |
Total | $106 | $171 |
Fair_Value_Measurements_and_Fa5
Fair Value Measurements and Fair Values of Financial Instruments - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Detail) (Significant Unobservable Inputs (Level 3) [Member], Fair Value Measurements Recurring [Member], USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Real Estate [Member] | Impaired Financing Receivable With Recorded Allowance [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
Other Real Estate [Member] | Impaired Financing Receivable With Recorded Allowance [Member] | Other Real Estate [Member] | Impaired Financing Receivable With Recorded Allowance [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' | ' | ' |
Fair Value Estimate | $106 | $171 | ' | ' | ' | ' |
Valuation Technique | 'Appraisal of collateral | 'Appraisal of collateral | ' | ' | ' | ' |
Unobservable Input | 'Appraisal and liquidation adjustments | 'Appraisal and liquidation adjustments | ' | ' | ' | ' |
Range | ' | ' | 0.00% | 0.00% | -20.00% | -20.00% |
Fair_Value_Measurements_and_Fa6
Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values of Riverview's Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financial assets: | ' | ' | ' |
Cash and cash equivalents | $24,062 | $15,952 | $27,905 |
Interest-bearing time deposits | 1,244 | 250 | ' |
Investment securities | 57,246 | 45,101 | ' |
Mortgage loans held for sale | 245 | 830 | ' |
Loans, net | 319,674 | 234,112 | ' |
Accrued interest receivable | 1,380 | 1,014 | ' |
Restricted investments in bank stocks | 1,030 | 1,429 | ' |
Financial liabilities: | ' | ' | ' |
Deposits | 382,345 | 269,445 | ' |
Short-term borrowings | ' | 11,000 | ' |
Long-term borrowings | 10,000 | 9,550 | ' |
Accrued interest payable | 197 | 214 | ' |
Carrying Amount [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Cash and cash equivalents | 24,062 | 15,952 | ' |
Interest-bearing time deposits | 1,244 | 250 | ' |
Investment securities | 57,246 | 45,101 | ' |
Mortgage loans held for sale | 245 | 830 | ' |
Loans, net | 319,674 | 234,112 | ' |
Accrued interest receivable | 1,380 | 1,014 | ' |
Restricted investments in bank stocks | 1,030 | 1,429 | ' |
Financial liabilities: | ' | ' | ' |
Deposits | 382,345 | 269,445 | ' |
Short-term borrowings | ' | 11,000 | ' |
Long-term borrowings | 10,000 | 9,550 | ' |
Accrued interest payable | 197 | 177 | ' |
Off balance sheet financial instruments | ' | ' | ' |
Fair Value [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Cash and cash equivalents | 24,062 | 15,952 | ' |
Interest-bearing time deposits | 1,244 | 250 | ' |
Investment securities | 57,246 | 45,101 | ' |
Mortgage loans held for sale | 245 | 830 | ' |
Loans, net | 322,452 | 237,376 | ' |
Accrued interest receivable | 1,380 | 1,014 | ' |
Restricted investments in bank stocks | 1,030 | 1,429 | ' |
Financial liabilities: | ' | ' | ' |
Deposits | 368,560 | 272,079 | ' |
Short-term borrowings | ' | 10,998 | ' |
Long-term borrowings | 10,340 | 10,138 | ' |
Accrued interest payable | 197 | 177 | ' |
Off balance sheet financial instruments | ' | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Cash and cash equivalents | 24,062 | 15,952 | ' |
Interest-bearing time deposits | 1,244 | 250 | ' |
Investment securities | ' | ' | ' |
Mortgage loans held for sale | ' | ' | ' |
Loans, net | ' | ' | ' |
Accrued interest receivable | 1,380 | 1,014 | ' |
Restricted investments in bank stocks | ' | ' | ' |
Financial liabilities: | ' | ' | ' |
Deposits | ' | ' | ' |
Short-term borrowings | ' | ' | ' |
Long-term borrowings | ' | ' | ' |
Accrued interest payable | 197 | 177 | ' |
Off balance sheet financial instruments | ' | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' |
Interest-bearing time deposits | ' | ' | ' |
Investment securities | 57,246 | 45,101 | ' |
Mortgage loans held for sale | 245 | 830 | ' |
Loans, net | ' | ' | ' |
Accrued interest receivable | ' | ' | ' |
Restricted investments in bank stocks | ' | ' | ' |
Financial liabilities: | ' | ' | ' |
Deposits | 368,560 | 272,079 | ' |
Short-term borrowings | ' | 10,998 | ' |
Long-term borrowings | 10,340 | 10,138 | ' |
Accrued interest payable | ' | ' | ' |
Off balance sheet financial instruments | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' |
Interest-bearing time deposits | ' | ' | ' |
Investment securities | ' | ' | ' |
Mortgage loans held for sale | ' | ' | ' |
Loans, net | 322,452 | 237,376 | ' |
Accrued interest receivable | ' | ' | ' |
Restricted investments in bank stocks | 1,030 | 1,429 | ' |
Financial liabilities: | ' | ' | ' |
Deposits | ' | ' | ' |
Short-term borrowings | ' | ' | ' |
Long-term borrowings | ' | ' | ' |
Accrued interest payable | ' | ' | ' |
Off balance sheet financial instruments | ' | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Lawsuits | |
Claim | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Number of claims | 0 |
Number of lawsuits | 0 |
Riverview_Financial_Corporatio2
Riverview Financial Corporation (Parent Company Only) Financial Information - Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash and cash equivalents | $24,062 | $15,952 | $27,905 |
Other assets | 6,217 | 1,888 | ' |
Total Assets | 432,882 | 319,197 | ' |
Liabilities and Shareholders' Equity | ' | ' | ' |
Long-term borrowings | 10,000 | 9,550 | ' |
Other liabilities | 4,112 | 2,251 | ' |
Total Liabilities | 396,654 | 292,460 | ' |
Shareholders' equity | 36,228 | 26,737 | 26,406 |
Total Liabilities and Shareholders' Equity | 432,882 | 319,197 | ' |
Riverview Financial Corporation [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Cash and cash equivalents | 3,202 | 43 | 68 |
Investment in bank subsidiary | 37,959 | 28,617 | ' |
Real estate, net | 73 | 73 | ' |
Other assets | 3 | 5 | ' |
Total Assets | 41,237 | 28,738 | ' |
Liabilities and Shareholders' Equity | ' | ' | ' |
Long-term borrowings | 5,000 | 2,001 | ' |
Other liabilities | 9 | ' | ' |
Total Liabilities | 5,009 | 2,001 | ' |
Shareholders' equity | 36,228 | 26,737 | ' |
Total Liabilities and Shareholders' Equity | $41,237 | $28,738 | ' |
Riverview_Financial_Corporatio3
Riverview Financial Corporation (Parent Company Only) Financial Information - Statements of Income (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Income Statements, Captions [Line Items] | ' | ' |
Income, dividends from bank subsidiary | $13,608 | $13,017 |
Interest expense | 2,456 | 3,180 |
Income before Income Taxes | 1,213 | 1,981 |
Net Income | 1,463 | 1,663 |
Total Comprehensive Income | 296 | 1,289 |
Riverview Financial Corporation [Member] | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' |
Income, dividends from bank subsidiary | 1,228 | 1,020 |
Interest expense | 119 | 83 |
Income before Income Taxes | 1,109 | 937 |
Undistributed net income of subsidiary | 354 | 726 |
Net Income | 1,463 | 1,663 |
Total Comprehensive Income | $296 | $1,289 |
Riverview_Financial_Corporatio4
Riverview Financial Corporation (Parent Company Only) Financial Information - Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net income | $1,463 | $1,663 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Option expense | 160 | 43 |
Decrease in accrued interest receivable and other assets | 153 | -259 |
Increase in accrued interest payable and other liabilities | -126 | 765 |
Net Cash Provided by Operating Activities | 2,504 | 2,942 |
Cash Flows from Investing Activities | ' | ' |
Net Cash Provided by (Used in) Investing Activities | 19,351 | -44,476 |
Cash Flows from Financing Activities | ' | ' |
Proceeds from long-term debt | 3,000 | 500 |
Dividends paid | -1,118 | -936 |
Purchase of treasury stock | ' | -65 |
Net Cash Provided by (Used in) Financing Activities | -13,745 | 29,581 |
Increase (Decrease) in Cash and Cash Equivalents | 8,110 | -11,953 |
Cash and Cash Equivalents - Beginning | 15,952 | 27,905 |
Cash and Cash Equivalents - Ending | 24,062 | 15,952 |
Riverview Financial Corporation [Member] | ' | ' |
Cash Flows from Operating Activities | ' | ' |
Net income | 1,463 | 1,663 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Option expense | 160 | 44 |
Loan origination fee | ' | -5 |
Undistributed net income of subsidiary | -354 | -726 |
Decrease in accrued interest receivable and other assets | 2 | ' |
Increase in accrued interest payable and other liabilities | 7 | ' |
Net Cash Provided by Operating Activities | 1,278 | 976 |
Cash Flows from Investing Activities | ' | ' |
Capitalization of subsidiary | ' | -500 |
Net Cash Provided by (Used in) Investing Activities | ' | -500 |
Cash Flows from Financing Activities | ' | ' |
Proceeds from long-term debt | 2,999 | 500 |
Dividends paid | -1,118 | -936 |
Purchase of treasury stock | ' | -65 |
Net Cash Provided by (Used in) Financing Activities | 1,881 | -501 |
Increase (Decrease) in Cash and Cash Equivalents | 3,159 | -25 |
Cash and Cash Equivalents - Beginning | 43 | 68 |
Cash and Cash Equivalents - Ending | $3,202 | $43 |