Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 12, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | CB Financial Services, Inc. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 4,071,462 | ||
Entity Public Float | $73,500,000 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1605301 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Statement_of_Fina
Consolidated Statement of Financial Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and Due From Banks: | ||
Interest Bearing | $5,933 | $9,333 |
Non-Interest Bearing | 5,818 | 7,084 |
Total Cash and Due From Banks | 11,751 | 16,417 |
Investment Securities: | ||
Available-for-Sale | 105,449 | 133,810 |
Held to Maturity | 504 | 1,006 |
Loans, Net | 680,451 | 373,764 |
Premises and Equipment, Net | 10,593 | 4,612 |
Bank-Owned Life Insurance | 17,735 | 8,702 |
Goodwill | 5,632 | 2,158 |
Core Deposit Intangible | 4,888 | |
Accrued Interest and Other Assets | 9,311 | 6,017 |
TOTAL ASSETS | 846,314 | 546,486 |
Deposits: | ||
Demand Deposits | 163,488 | 121,210 |
NOW Accounts | 101,600 | 77,797 |
Money Market Accounts | 160,747 | 110,174 |
Savings Accounts | 118,332 | 84,961 |
Time Deposits | 151,594 | 84,670 |
Brokered Deposits | 1,733 | 1,523 |
Total Deposits | 697,494 | 480,335 |
Short-Term Borrowings | 46,684 | 15,384 |
Other Borrowed Funds | 15,136 | 4,000 |
Accrued Interest and Other Liabilities | 5,088 | 1,762 |
TOTAL LIABILITIES | 764,402 | 501,481 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock, No Par Value; 5,000,000 Shares Authorized | 0 | 0 |
Common Stock, $0.4167 Par Value; 35,000,000 Shares Authorized, 4,363,346 and 2,626,864 Shares Issued and 4,071,462 and 2,467,980 Shares Outstanding at December 31, 2014 and 2013, Respectively | 1,818 | 1,095 |
Capital Surplus | 41,762 | 5,969 |
Retained Earnings | 42,766 | 40,807 |
Treasury Stock, at Cost (291,884 and 158,884 Shares at December 31, 2014 and 2013, Respectively) | -4,999 | -2,103 |
Accumulated Other Comprehensive Income (Loss) | 565 | -763 |
TOTAL STOCKHOLDERS' EQUITY | 81,912 | 45,005 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $846,314 | $546,486 |
Consolidated_Statement_of_Fina1
Consolidated Statement of Financial Condition (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Preferred Stock, Par Value (in Dollars per share) | $0 | $0 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Common Stock, Par Value (in Dollars per share) | $0.42 | $0.42 |
Common Stock, Shares Authorized | 35,000,000 | 35,000,000 |
Common Stock, Shares Issued | 4,363,346 | 2,626,864 |
Common Stock, Shares Outstanding | 4,071,462 | 2,467,980 |
Treasury Stock, at Cost (Shares) | 291,884 | 158,884 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
INTEREST AND DIVIDEND INCOME | |||
Loans, Including Fees | $18,515 | $15,528 | $15,835 |
Federal Funds Sold | 27 | 16 | 50 |
Investment Securities: | |||
Taxable | 862 | 843 | 902 |
Exempt From Federal Income Tax | 1,326 | 1,492 | 1,755 |
Other Interest and Dividend Income | 111 | 26 | 7 |
TOTAL INTEREST AND DIVIDEND INCOME | 20,841 | 17,905 | 18,549 |
INTEREST EXPENSE | |||
Deposits | 1,775 | 1,968 | 2,646 |
Federal Funds Purchased | 2 | 3 | 1 |
Short-Term Borrowings | 45 | 56 | 84 |
Other Borrowed Funds | 138 | 209 | 362 |
TOTAL INTEREST EXPENSE | 1,960 | 2,236 | 3,093 |
NET INTEREST INCOME | 18,881 | 15,669 | 15,456 |
Provision For Loan Losses | 100 | 450 | |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 18,881 | 15,569 | 15,006 |
NONINTEREST INCOME | |||
Service Fees on Deposit Accounts | 2,128 | 2,062 | 2,091 |
Insurance Commissions | 466 | 11 | 13 |
Other Commissions | 397 | 382 | 320 |
Net Gains on Sale of Loans | 452 | 476 | 817 |
Net Gains on Sale of Investments | 60 | 0 | 14 |
Income from Bank-Owned Life Insurance | 273 | 243 | 260 |
Other | 42 | 31 | 18 |
TOTAL NONINTEREST INCOME | 3,818 | 3,205 | 3,533 |
NONINTEREST EXPENSE | |||
Salaries and Employee Benefits | 8,380 | 7,341 | 7,294 |
Occupancy | 1,218 | 1,119 | 991 |
Equipment | 1,146 | 975 | 928 |
FDIC Assessment | 412 | 383 | 373 |
PA Shares Tax | 357 | 403 | 371 |
Contracted Services | 463 | 344 | 355 |
Legal Fees | 426 | 420 | 356 |
Advertising | 467 | 300 | 299 |
Bankcard Processing Expense | 320 | 253 | 256 |
Other Real Estate Owned (Income) Expense | -548 | 40 | 198 |
Merger-Related | 1,979 | ||
Other | 2,178 | 1,780 | 1,866 |
TOTAL NONINTEREST EXPENSE | 16,798 | 13,358 | 13,287 |
Income Before Income Taxes | 5,901 | 5,416 | 5,252 |
Income Taxes | 1,609 | 1,160 | 1,035 |
NET INCOME | $4,292 | $4,256 | $4,217 |
EARNINGS PER SHARE | |||
Basic (in Dollars per share) | $1.63 | $1.73 | $1.73 |
Diluted (in Dollars per share) | $1.63 | $1.72 | $1.70 |
WEIGHTED AVERAGE SHARES OUTSTANDING | |||
Basic (in Shares) | 2,633,871 | 2,463,571 | 2,438,281 |
Diluted (in Shares) | 2,635,090 | 2,478,086 | 2,476,601 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Net Income | $4,292 | $4,256 | $4,217 | |||
Other Comprehensive Income (Loss): | ||||||
Unrealized Gain (Loss) on Available-for-Sale Securities Net of Tax of $704, $(1,284), and $(103) for the Years Ended December 31, 2014, 2013, and 2012, Respectively | 1,368 | -1,992 | -159 | |||
Reclassification Adjustment for Losses (Gains) on Securities Included in Net Income, Net of Tax of $20, $0, and $5 for the Years Ended December 2014, 2013 and 2012, Respectively (1) | -40 | [1] | [1] | -9 | [1] | |
Total Comprehensive Income | $5,620 | $2,264 | $4,049 | |||
[1] | The gross amount of gains on securities of $60, $0, and $14 for the years ended December 31, 2014, 2013 and 2012, respectively, is reported as Net Gains on Sales of Investments on the Consolidated Statement of Income. The income tax effect is included in Income Taxes on the Consolidated Statement of Income. |
Consolidated_Statement_of_Comp1
Consolidated Statement of Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Unrealized Gain (Loss) on Available-for-Sale Securities,Tax | $704 | ($1,284) | ($103) |
Reclassification Adjustment for Losses (Gains) on Securities Included in Net Income, Tax | 20 | 0 | 5 |
Gross amount of gains on securities | $60 | $0 | $14 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholdersb Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2011 | $1,074 | $5,265 | $36,459 | ($2,103) | $1,397 | $42,092 |
Balance (in Shares) at Dec. 31, 2011 | 2,576,544 | |||||
Net Income | 4,217 | 4,217 | ||||
Other Comprehensive Income | -168 | -168 | ||||
Exercise of Stock Options | 11 | 371 | 382 | |||
Exercise of Stock Options (in Shares) | 26,915 | 26,915 | ||||
Dividends Declared | -2,053 | -2,053 | ||||
Balance at Dec. 31, 2012 | 1,085 | 5,636 | 38,623 | -2,103 | 1,229 | 44,470 |
Balance (in Shares) at Dec. 31, 2012 | 2,603,459 | |||||
Net Income | 4,256 | 4,256 | ||||
Other Comprehensive Income | -1,992 | -1,992 | ||||
Exercise of Stock Options | 10 | 333 | 343 | |||
Exercise of Stock Options (in Shares) | 23,405 | 23,405 | ||||
Dividends Declared | -2,072 | -2,072 | ||||
Balance at Dec. 31, 2013 | 1,095 | 5,969 | 40,807 | -2,103 | -763 | 45,005 |
Balance (in Shares) at Dec. 31, 2013 | 2,626,864 | |||||
Net Income | 4,292 | 4,292 | ||||
Other Comprehensive Income | 1,328 | 1,328 | ||||
Purchase of FedFirst Financial Corporation | 717 | 35,593 | 36,310 | |||
Purchase of FedFirst Financial Corporation (in Shares) | 1,721,967 | |||||
Exercise of Stock Options | 6 | 200 | 206 | |||
Exercise of Stock Options (in Shares) | 14,515 | 14,515 | ||||
Dividends Declared | -2,333 | -2,333 | ||||
Treasury Stock Purchased, at Cost (133,000 shares) | -2,896 | -2,896 | ||||
Balance at Dec. 31, 2014 | $1,818 | $41,762 | $42,766 | ($4,999) | $565 | $81,912 |
Balance (in Shares) at Dec. 31, 2014 | 4,363,346 |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Stockholdersb Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Stock [Member] | |||
Dividends per share | $0.84 | $0.84 | $0.84 |
Treasury Stock [Member] | |||
Treasury Stock Purchased, at Cost (in Shares) | 133,000 |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
OPERATING ACTIVITIES | |||
Net Income | $4,292,000 | $4,256,000 | $4,217,000 |
NdjustmP5nts to RP5concilP5 Net Income to Net Cash (Used In) Provided By Operating Activities: | |||
Net Amortization on Investments | 1,240,000 | 1,851,000 | 2,516,000 |
Depreciation and Amortization | 763,000 | 629,000 | 484,000 |
Provision for Loan Losses | 100,000 | 450,000 | |
Income from Bank-Owned Life Insurance | -273,000 | -243,000 | -260,000 |
Proceeds From Mortgage Loans Sold | 16,922,000 | 15,927,000 | 19,510,000 |
Originations of Mortgage Loans for Sale | -16,470,000 | -15,451,000 | -18,693,000 |
Gains on Sale of Loans | -452,000 | -476,000 | -817,000 |
Gain on Sales of Investment Securities | -60,000 | 0 | -14,000 |
(Gain) Loss on Sales of Other Real Estate Owned and Repossessed Assets | -840,000 | -211,000 | 26,000 |
(Increase) Decrease in Accrued Interest Receivable | -677,000 | 69,000 | 160,000 |
Valuation Adjustment on Foreclosed Real Estate | 126,000 | 176,000 | |
Deferred Income Tax | 1,218,000 | 192,000 | 14,000 |
Increase (Decrease) in Taxes Payable | 577,000 | 52,000 | -281,000 |
Increase (Decrease) in Accrued Interest Payable | 82,000 | -61,000 | -174,000 |
Decrease in Prepaid FDIC Assessment | 653,000 | 337,000 | |
Other, Net | -8,723,000 | 637,000 | -934,000 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -2,401,000 | 8,050,000 | 6,717,000 |
Investment Securities Available for Sale: | |||
Proceeds From Principal Repayments and Maturities | 62,632,000 | 58,189,000 | 104,184,000 |
Purchases of Securities | -52,144,000 | -41,517,000 | -130,283,000 |
Proceeds from Sales of Securities | 18,712,000 | 0 | |
Investment Securities Held to Maturity: | |||
Proceeds From Principal Repayments and Maturities | 495,000 | 1,005,000 | 1,745,000 |
Purchases of Securities | -527,000 | ||
Proceeds from Sales of Securities | 514,000 | ||
Net Increase in Loans | -308,417,000 | -32,670,000 | -7,754,000 |
Purchase of Premises and Equipment | -6,564,000 | -237,000 | -1,098,000 |
Retirements of Premises and Equipment | 74,000 | ||
Proceeds From Sale of Other Real Estate Owned and Repossessed Assets | 2,445,000 | 1,212,000 | 90,000 |
Net Change in Restricted Equity Securities | -1,620,000 | -380,000 | 15,000 |
Acquisition of Bank-Owned Life Insurance | -8,760,000 | ||
NET CASH USED IN INVESTING ACTIVITIES | -293,147,000 | -14,398,000 | -33,114,000 |
FINANCING ACTIVITIES | |||
Net Increase in Deposits | 217,159,000 | 10,187,000 | 20,008,000 |
Net Increase (Decrease) in Short-Term Borrowings | 31,300,000 | -7,989,000 | -4,645,000 |
Principal Payments on Other Borrowed Funds | -1,029,000 | -3,000,000 | -4,461,000 |
Proceeds from Long-Term Borrowings | 12,165,000 | ||
Cash Dividends Paid | -2,333,000 | -2,072,000 | -2,053,000 |
Treasury Stock, Purchases at Cost | -2,896,000 | ||
Issuance of Common Stock | 36,310,000 | ||
Exercise of Stock Options | 206,000 | 343,000 | 382,000 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 290,882,000 | -2,531,000 | 9,231,000 |
DECREASE IN CASH AND CASH EQUIVALENTS | -4,666,000 | -8,879,000 | -17,166,000 |
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 16,417,000 | 25,296,000 | 42,462,000 |
CASH AND DUE FROM BANKS AT END OF YEAR | $11,751,000 | $16,417,000 | $25,296,000 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Principles of Consolidation and Basis of Presentation | |
The accompanying consolidated financial statements include the accounts of CB Financial Services, Inc. and its wholly owned subsidiary, Community Bank, (the “Bank”), and the Bank’s wholly-owned subsidiary, Exchange Underwriters, Inc. (“Exchange Underwriters”). CB Financial Services, Inc. and Community Bank are collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated in consolidation. | |
Nature of Operations | |
The Company derives substantially all its income from banking and bank-related services which include interest earnings on commercial, commercial mortgage, residential real estate and consumer loan financing, as well as interest earnings on investment securities and fees generated from deposit services to its customers. The Company provides banking services primarily to communities in Greene, Allegheny, Washington, Fayette, and Westmoreland Counties located in southwestern Pennsylvania. The Company also conducts insurance brokerage activities through Exchange Underwriters. | |
The Company evaluated subsequent events through the date the consolidated financial statements were filed with the Securities and Exchange Commission and incorporated into the consolidated financial statements the effect of all material known events determined by Accounting Standards Codification (“ASC”) Topic 855, Subsequent Events, to be recognizable events. | |
Use of Estimates | |
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with general practice within the banking industry. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statement of Financial Condition and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to fair value of investment securities available for sale, determination of the allowance for losses on loans, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, other-than-temporary impairment evaluations of securities, the valuation of deferred tax assets, and the valuation of goodwill impairment. | |
Revenue Recognition | |
Income on loans and investments is recognized as earned on the accrual method. Service charges and fees on deposit accounts are recognized at the time the customer account is charged. Gains and losses on sales of mortgages are based on the difference between the selling price and the carrying value of the related mortgage sold. | |
Operating Segments | |
An operating segment is defined as a component of an enterprise that engages in business activities which generate revenue and incur expense, and the operating results of which are reviewed by management. The Company’s business activities are currently confined to one operating segment which is community banking. | |
Cash and Due From Banks | |
Included in Cash and Due From Banks are required federal reserves of $1.9 million and $388,000 at December 31, 2014 and 2013, respectively, for facilitating the implementation of monetary policy by the Federal Reserve System. The required reserves are computed by applying prescribed ratios to the classes of average deposit balances. These are held in the form of cash on hand and/or balances maintained directly with the Federal Reserve Bank. | |
Investment Securities | |
Investment securities are classified at the time of purchase, based on management’s intentions and ability, as securities held to maturity or securities available-for-sale. Debt securities acquired with the intent and the ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount which are computed using a level yield method and recognized as adjustments to interest income. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized securities gains and losses, if any, are computed using the specific identification method. Declines in the fair value of individual securities below amortized cost that are other than temporary will result in write-downs of the individual securities to their fair value. Any related write-downs will be included in earnings as realized losses. Interest and dividends on investment securities are recognized as income when earned. | |
Common stock of the Federal Home Loan Bank (“FHLB”) and Atlantic Community Bankers’ Bank (“ACBB”) represents ownership in organizations which are wholly owned by other financial institutions. These restricted equity securities are accounted for based on industry guidance in Accounting Standards Codification (“ASC”) Sub-Topic 325-20, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Included in Accrued Interest and Other Assets are FHLB stock of $3.3 million and $1.7 million at December 31, 2014 and 2013, respectively, and ACBB stock of $85,000 at December 31, 2014 and $40,000 at December 31, 2013. | |
The Company periodically evaluates its FHLB investment for possible impairment based on, among other things, the capital adequacy of the FHLB and its overall financial condition. The Company believes its holdings in the stock are ultimately recoverable at par value at December 31, 2014 and, therefore, determined that FHLB stock was not impaired. In addition, the Company has ample liquidity and does not require redemption of its FHLB stock in the foreseeable future. | |
Loans Receivable and Allowance for Loan Losses | |
Loans receivable 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 deferred loan fees and the allowance for loan losses. The Company’s loan portfolio is segmented to enable management to monitor risk and performance. The real estate loans are further segregated into three classes. Residential mortgages include those secured by residential properties, while commercial mortgages consist of loans to commercial borrowers secured by commercial or residential real estate. Construction loans typically consist of loans to build commercial buildings and acquire and develop residential real estate. The commercial, and industrial segment consists of loans to finance the activities of commercial customers. The consumer segment consists primarily of indirect auto loans, home equity loans, installment loans and overdraft lines of credit. | |
Residential mortgage and construction loans are typically longer-term loans and, therefore, generally, present greater interest rate risk than the consumer and commercial loans. Under certain economic conditions, housing values may decline, which may increase the risk that the collateral values are not sufficient. Commercial real estate loans generally present a higher level of risk than loans secured by residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties and the increased difficulty in evaluating and monitoring these types of loans. Furthermore, the repayment of commercial real estate loans is typically dependent upon the successful operation of the related real estate project. If the cash flow from the project is reduced (for example, if leases are not obtained or renewed, a bankruptcy court modifies a lease term, or a major tenant is unable to fulfill its lease obligations), the borrower’s ability to repay the loan may be impaired. Commercial and industrial loans are generally secured by business assets, inventories, accounts receivable, etc, which present collateral risk. Consumer loans generally have higher interest rates and shorter terms than residential mortgage loans; however, they have additional credit risk due to the type of collateral securing the loan. | |
Accrual of interest on loans is generally discontinued when it is determined that a reasonable doubt exists as to the collectibility of principal, interest, or both. Payments received on nonaccrual loans are recorded as income or applied against principal according to management’s judgment as to the collectibility of such principal. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
The Company uses an eight point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first four categories are not considered criticized and are aggregated as “Pass” rated. The criticized rating categories used by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are below average quality, resulting in an undue credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans classified as Doubtful have all the weaknesses inherent in loans classified as substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as Loss are considered uncollectable and of such little value that continuance as an asset is not warranted. | |
In the normal course of business, the Company modifies loan terms for various reasons. These reasons may include as a retention strategy to compete in the current interest rate environment, and to re-amortize or extend a loan term to better match the loan’s payment stream with the borrower’s cash flows. A modified loan is considered to be a troubled debt restructuring (“TDR”) when the Company has determined that the borrower is experiencing financial difficulties. The Company evaluates the probability that the borrower will be in payment default on any of its debt in the foreseeable future without modification. To make this determination a credit review is performed to assess the ability of the borrower to meet their obligations. | |
When the Company restructures a loan to a troubled borrower, the loan terms (i.e. interest rate, payment, amortization period and/or maturity date) are modified in such a way to enable the borrower to cover the modified debt service payments based on current financials and cash flow adequacy. If the hardship is thought to be temporary, then modified terms are offered only for that time period. Where possible, the Company obtains additional collateral and/or secondary payment sources at the time of the restructure. To date, the Company has not forgiven any principal as a restructuring concession. The Company will not offer modified terms if it believes that modifying the loan terms will only delay an inevitable permanent default. | |
All loans designated as TDRs are considered impaired loans and may be in either accruing or non-accruing status. The Company’s policy for recognizing interest income on TDRs does not differ from its overall policy for interest recognition. TDRs are considered to be in payment default if, subsequent to modification, the loans are transferred to non-accrual status. A loan may be removed from nonaccrual TDR status if it has performed according to its modified terms for at least six consecutive months. | |
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. | |
Loan origination and commitment fees as well as certain direct loan origination costs are being deferred and the net amount amortized as an adjustment to the related loan’s yield. These amounts are being amortized over the contractual lives of the related loans. | |
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance based on potential losses in the current loan portfolio, which includes an assessment of economic conditions, changes in the nature and volume of the loan portfolio, loan loss experience, volume and severity of past due, classified and nonaccrual loans as well as other loan modifications, quality of the Company’s loan review system, the degree of oversight by the Company’s Board of Directors, existence and effect of any concentrations of credit and changes in the level of such concentrations, effect of external factors, such as competition and legal and regulatory requirements and other relevant factors. While management uses the best information available to make such evaluations, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making evaluations. Additions are made to the allowance through periodic provisions charged to income and recovery of principal and interest on loans previously charged-off. Losses of principal are charged directly to the allowance when a loss actually occurs or when a determination is made that the specific loss is probable. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revisions as more information becomes available. | |
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due for principal and interest according to the original contractual terms of the loan agreement. 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 based on the present value of expected future cash flows discounted at a loan’s effective interest rate, or as a practical expedient, the observable market price, or, if the loan is collateral dependent, the fair value of the underlying collateral. When the measurement of an impaired loan is less than the recorded investment in the loan, the impairment is recorded in a specific valuation allowance through a charge to the provision for loan losses. Any reserve for unfunded lending commitments represents management’s estimate of losses inherent in its’ unfunded loan commitments and is recorded in the allowance for loan losses on the Consolidated Statement of Financial Condition. | |
This specific valuation allowance is periodically adjusted for significant changes in the amount or timing of expected future cash flows, observable market price or fair value of the collateral. The specific valuation allowance, or allowance for impaired loans, is part of the total allowance for loan losses. Cash payments received on impaired loans are recorded as a direct reduction of the recorded investment in the loan. When the recorded investment has been fully collected, receipts are recorded as recoveries to the allowance for loan losses until the previously charged-off principal is fully recovered. Subsequent amounts collected are recognized as interest income. Impaired loans are not returned to accrual status until all amounts due, both principal and interest, are current and a sustained payment history has been demonstrated. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate and consumer loans. An unallocated component is maintained to cover uncertainties that could affect the Company’s estimate of probable losses. | |
Generally, management considers all nonaccrual loans and certain renegotiated debt, when it exists, for impairment. The maximum period without payment that typically can occur before a loan is considered for impairment is 90 days. The past due status of loans receivable is determined based on contractual due dates for loan payments. | |
The Company grants commercial, residential, and other consumer loans to customers throughout Greene, Washington, Allegheny, Fayette and Westmoreland Counties in Pennsylvania. Although the Company has a diversified loan portfolio at December 31, 2014 and 2013, a substantial portion of its debtors’ ability to honor their contracts is determined by the economic environment of these counties. | |
Premises and Equipment | |
Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is principally computed on the straight-line method over the estimated useful lives of the related assets, which range from three to seven years for furniture, fixtures, and equipment and 27.5 to 40 years for building premises. Leasehold improvements are amortized over the shorter of their estimated useful lives or their respective lease terms, which range from seven to fifteen years. Expenditures for maintenance and repairs are charged to expense when incurred while costs of major additions and improvements are capitalized. | |
Bank-Owned Life Insurance | |
The Company is the owner and beneficiary of bank owned life insurance (“BOLI”) policies on certain employees. The earnings from the BOLI policies are recognized as a component of noninterest income. The BOLI policies are an asset that can be liquidated, if necessary, with tax costs associated. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in cash surrender value. | |
Real Estate Owned | |
Real estate owned acquired in settlement of foreclosed loans is carried as a component of other assets at the lower of cost or fair value minus estimated cost to sell. Prior to foreclosure, the estimated collectible value of the collateral is evaluated to determine if a partial charge-off of the loan balance is necessary. After transfer to real estate owned, any subsequent write-downs are charged against noninterest expense. Direct costs incurred in the foreclosure process and subsequent holding costs incurred on such properties are recorded as expenses of current operations. Real estate owned was $278,000 and $310,000 at December 31, 2014 and 2013, respectively. Loans in process of foreclosure were $2.7 million and $710,000 at December 31, 2014 and 2013, respectively. | |
Income Taxes | |
The Company accounts for income taxes in accordance with income tax accounting guidance, Financial Accounting Standards Board (“FASB”) ASC 740 Topic, “Income Taxes”. The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. | |
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination, the term more likely than not means a likelihood of more than 50%; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion of all of a deferred tax asset will not be realized. | |
The Company recognizes interest and penalties on income taxes as a component of income tax expense. | |
Core Deposit Intangible | |
Core Deposit Intangible was developed by specific core deposit life studies, and is amortized using the straight-line method over periods ranging from eight to ten years. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any are charges to expense. | |
Goodwill | |
The Company accounts for goodwill in accordance with FASB ASC Sub-Topic 350-20, “Intangibles—Goodwill and Other”. This statement, among other things, requires a two-step process for testing the impairment of goodwill for each reporting unit on at least an annual basis. The Company performs an annual impairment analysis of goodwill. Based on the fair value of each reporting unit that has goodwill, estimated using the expected present value of future cash flows, no impairment of goodwill was recognized in 2014, 2013 and 2012. | |
Mortgage Service Rights ("MSRs") | |
The Company has agreements for the express purpose of selling loans in the secondary market. The Company maintains all servicing rights for these loans. Originated MSRs are recorded by allocating total costs incurred between the loan and servicing rights based on their relative fair values. MSRs are amortized in proportion to other assets on the Consolidated Statement of Financial Condition. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of MSRs is netted against loan servicing fee income. The carrying and fair values of the MSRs and related amortization are not significant for financial reporting purposes. | |
Treasury Stock | |
The purchase of the Company’s common stock is recorded at cost. At the date of subsequent reissue, the treasury stock account is reduced by the cost of such stock on the average cost basis, with any excess proceeds being credited to Capital Surplus. | |
Comprehensive Income (Loss) | |
Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income (loss) is comprised of unrealized holding gains (losses) on the available-for-sale securities portfolio and unrealized income (loss) related to factors other than credit on debt securities. | |
Earnings Per Share | |
The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated utilizing the reported net income as the numerator and weighted average shares outstanding as the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any options, warrants, and convertible securities are adjusted for in the denominator. Treasury shares are not deemed outstanding for earnings per share calculations. | |
Stock Options | |
The Company maintained stock option plans for key officers, employees, and nonemployee directors. There were no stock options outstanding at December 31, 2014. All stock option plans have expired. | |
Stock compensation accounting guidance, FASB ASC Topic 718, “Compensation—Stock Compensation,” requires that the compensation cost relating to share based payment transactions be recognized in financial statements. The cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. | |
The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Sholes model is used to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of the grant is used for restricted stock awards. | |
Cash Flow Information | |
The Company has defined cash equivalents as those amounts due from depository institutions, interest-bearing deposits with other banks with maturities of less than 90 days, and federal funds sold. Cash payments for interest on deposits, short-term borrowings, and other borrowed funds in 2014, 2013 and 2012 were $1.9 million, $2.3 million and $3.3 million, respectively. Cash payments for income taxes were $1.8 million, $525,000 and $1.2 million in 2014, 2013 and 2012, respectively. Transfers from loans to real estate owned and repossessed assets were $1.6 million, $1.0 million and $544,000 in 2014, 2013 and 2012, respectively. | |
Advertising Costs | |
Advertising costs are expensed as incurred. | |
Reclassifications | |
Certain comparative amounts for prior periods have been reclassified to conform to the current year presentation. Such reclassifications did not affect net income or stockholders’ equity. | |
Recent Accounting Standards | |
In August 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure, an amendment of ASC Subtopic 310-40, Receivables – Troubled Debt Restructurings by Creditors. ASU 2014-14 specifies that a mortgage loan be derecognized and a separate other receivable be recognized upon foreclosure if the loan has a government guarantee that is not separable from the loan before foreclosure; and at the time of foreclosure, the creditor has the intent to convey the real estate to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the amount of the claim, which must be a fixed amount determined on the basis of the fair value of the real estate. An entity can elect to adopt the amendments in ASU 2014-14 using either a modified retrospective transition method or a prospective transition method. ASU 2014-14 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with early adoption permitted. The adoption of ASU 2014-14 did not have a material impact on the Company’s financial condition and results of operations. | |
In June 2014, the FASB issued ASU 2014-11, Repurchase-to Maturity Transactions, Repurchase Financings, and Disclosures, an amendment of ASC Topic 860, Transfers and Servicing. The amendments in ASU 2014-11 require repurchase-to-maturity transactions to be accounted for as secured borrowing transactions on the Statement of Financial Condition, rather than sales; and for repurchase financing arrangements, require separate accounting for a transfer of a financial asset executed contemporaneously with (or in contemplation of) a repurchase agreement with the same counterparty, which also will generally result in secured borrowing accounting for the repurchase agreement. The ASU also introduces new disclosures to increase transparency about the types of collateral pledged for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings, and requires a transferor to disclose information about transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the transferee. For public entities, the accounting changes and disclosure for certain transactions accounted for as a sale are effective for the first interim or annual period beginning after December 15, 2014. The disclosure for transactions accounted for as secured borrowings is required for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. Earlier application for a public entity is prohibited. The Company is evaluating the provisions of ASU 2014-11, but does not believe that its adoption will have a material impact on the Company’s financial condition and results of operations. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which establishes a comprehensive revenue recognition standard for virtually all industries under U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. ASU 2014-09 specifies that an entity shall recognize revenue when, or as, the entity satisfies a performance obligation by transferring a promised good or service (i.e. an asset) to a customer. An asset is transferred when, or as, the customer obtains control of the asset. Entities are required to disclose qualitative and quantitative information on the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption not permitted. The Company is evaluating the provisions of ASU 2014-09, but does not believe that its adoption will have a material impact on the Company’s financial condition and results of operations. | |
In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which provides guidance clarifying when an in substance repossession or foreclosure occurs that would require a loan receivable to be derecognized and the real estate property recognized. ASU 2014-04 specifies the circumstances when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan, and requires 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 that are in the process of foreclosure. An entity can elect to adopt the amendments in ASU 2014-04 using either a modified or a retrospective transition method or a prospective transition method. ASU 2014-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with early adoption permitted. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial condition and results of operations. | |
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU is intended to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. Under the ASU, an entity generally must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward. The Company adopted the provisions of ASU 2013-11 effective January 1, 2014. As the Company has no unrecognized tax benefits, the adoption of ASU 2013-11 did not have any impact on the Company’s financial condition and results of operations. | |
In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income, either on the face of the statement where net income is presented or in the notes to the financial statements. The Company adopted the provisions of ASU 2013-02 effective January 1, 2014. The adoption of ASU 2013-02 did not have a material impact on the Company’s financial condition and results of operations. | |
Note_2_Merger
Note 2 - Merger | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Business Combinations [Abstract] | |||||||||
Business Combination Disclosure [Text Block] | NOTE 2—MERGER | ||||||||
On October 31, 2014, the Company completed its merger with FedFirst Financial Corporation (“FedFirst”), the holding company for First Federal Savings Bank, a community bank based in Monessen, Pennsylvania. Through the merger, the Company anticipates future revenue and earnings growth from an expanded menu of financial services and diversification of its sources of income from the acquisition of Exchange Underwriters, the insurance agency subsidiary. The merger resulted in the addition of five branches and expanded the Company’s reach into Fayette and Westmoreland counties in southwestern Pennsylvania. | |||||||||
Under the terms of the merger agreement, FedFirst stockholders were able to elect to receive $23.00 in cash or 1.159 shares of CB Financial Services common stock for each share of FedFirst common stock limited by the requirement in the merger agreement that 65% of the total shares of FedFirst common stock was exchanged for CB Financial Services common stock and 35% was exchanged for cash. In connection with the merger, the Company issued 1,721,967 shares of common stock and paid cash consideration of $18.4 million. The merger was valued at approximately $54.7 million. | |||||||||
The assets acquired and liabilities assumed of FedFirst were recorded on the Company’s Consolidated Statement of Financial Condition at their estimated fair values as of the October 31, 2014 acquisition date and are subject to change for a period up to 12 months after the acquisition date. The fair value of the assets acquired and liabilities assumed in the merger were as follows (dollars in thousands): | |||||||||
Consideration Paid: | |||||||||
Cash Paid for Redemption of FedFirst Common Stock | $ | 18,406 | |||||||
CB Financial Common Stock Issued in Exchange for FedFirst Common Stock | 36,310 | ||||||||
Total Consideration Paid | 54,716 | ||||||||
Assets Acquired: | |||||||||
Cash and Cash Equivalents | 4,552 | ||||||||
Net Loans | 283,565 | ||||||||
Premises and Equipment | 5,814 | ||||||||
Bank Owned Life Insurance | 8,760 | ||||||||
Core Deposit Intangible | 4,977 | ||||||||
Other Assets | 3,475 | ||||||||
Total Assets Acquired | 311,143 | ||||||||
Liabilities Assumed: | |||||||||
Deposits | 206,389 | ||||||||
Borrowings | 51,173 | ||||||||
Other Liabilities | 2,339 | ||||||||
Total Liabilities Assumed | 259,901 | ||||||||
Total Identifiable Net Assets | 51,242 | ||||||||
Goodwill Recognized | $ | 3,474 | |||||||
The operating results of FedFirst have been included in the Company’s Consolidated Statement of Income since the October 31, 2014 acquisition date. Total income of the acquired operations of FedFirst consisted of net interest income of approximately $2.1 million, noninterest income of approximately $500,000, noninterest expense of approximately $1.6 million and net income of approximately $644,000 from November 1, 2014 through December 31, 2014. | |||||||||
The following unaudited combined pro forma information presents the operating results for the year ended December 31, 2014 and 2013 as if the FedFirst acquisition had occurred on January 1, 2013. The pro forma results have been prepared for comparative purposes only and require significant estimates and judgments. As a result, they are not necessarily indicative of the results that would have been obtained had the merger actually occurred on January 1, 2013 nor are they intended to be indicative of future results of operations (dollars in thousands, except per share data). | |||||||||
Year Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Net Interest Income | $ | 29,006 | $ | 26,235 | |||||
Noninterest Income | 7,732 | 7,491 | |||||||
Noninterest Expense | 32,251 | 23,856 | |||||||
Net Income | 3,144 | 6,644 | |||||||
Earnings Per Share: | |||||||||
Basic | $ | 0.77 | $ | 1.59 | |||||
Dilulted | 0.77 | 1.58 | |||||||
Core deposit intangible asset related to the merger totaled $5.0 million with an estimated life of approximately 9 years. | |||||||||
The Company incurred merger-related expenses of $2.0 million in 2014 which were reflected on the Company’s Consolidated Statement of Income. These expenses were composed primarily of professional fees related to investment banker, legal and audit services. | |||||||||
As part of the merger, the Company identified certain key employees from FedFirst who would be retained. If all of these employees are terminated without cause within the first year of the merger, the total severance cost would be $678,000. The Company believes it is unlikely to incur this expense and, as a result, this amount would be an adjustment to goodwill at October 31, 2015. | |||||||||
Note_3_Earnings_Per_Share
Note 3 - Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | NOTE 3—EARNINGS PER SHARE | ||||||||||||
There are no convertible securities which would affect the numerator in calculating basic and diluted earnings per share; therefore, net income as presented on the Consolidated Statement of Income is used as the numerator. | |||||||||||||
The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation. | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-Average Common Shares Outstanding | 2,925,026 | 2,622,455 | 2,597,165 | ||||||||||
Average Treasury Stock Shares | (291,155 | ) | (158,884 | ) | (158,884 | ) | |||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Basic Earnings Per Share | 2,633,871 | 2,463,571 | 2,438,281 | ||||||||||
Additional Common Stock Equivalents (Stock Options) Used to Calculated Diluted Earnings Per Share | 1,219 | 14,515 | 38,320 | ||||||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Diluted Earnings Per Share | 2,635,090 | 2,478,086 | 2,476,601 | ||||||||||
Earnings per share: | |||||||||||||
Basic | $ | 1.63 | $ | 1.73 | $ | 1.73 | |||||||
Diluted | 1.63 | 1.72 | 1.7 | ||||||||||
Note_4_Investment_Securities
Note 4 - Investment Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4—INVESTMENT SECURITIES | ||||||||||||||||||||||||||||||||||||
The amortized cost and fair value of investment securities available-for-sale as of December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
U.S. Government Agencies | $ | 57,669 | $ | 139 | $ | (157 | ) | $ | 57,651 | ||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | 41,611 | 886 | (116 | ) | 42,381 | ||||||||||||||||||||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 4,240 | 33 | - | 4,273 | |||||||||||||||||||||||||||||||||
Equity Securities - Mutual Funds | 500 | 14 | - | 514 | |||||||||||||||||||||||||||||||||
Equity Securities - Other | 573 | 58 | (1 | ) | 630 | ||||||||||||||||||||||||||||||||
Total | $ | 104,593 | $ | 1,130 | $ | (274 | ) | $ | 105,449 | ||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
U.S. Government Agencies | $ | 77,559 | $ | 8 | $ | (1,273 | ) | $ | 76,294 | ||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | 50,481 | 659 | (637 | ) | 50,503 | ||||||||||||||||||||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 5,916 | 41 | (32 | ) | 5,925 | ||||||||||||||||||||||||||||||||
Equity Securities - Mutual Funds | 500 | 35 | - | 535 | |||||||||||||||||||||||||||||||||
Equity Securities - Other | 510 | 47 | (4 | ) | 553 | ||||||||||||||||||||||||||||||||
Total | $ | 134,966 | $ | 790 | $ | (1,946 | ) | $ | 133,810 | ||||||||||||||||||||||||||||
The amortized cost and fair value of investment securities held to maturity at December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 504 | $ | - | $ | - | $ | 504 | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 1,006 | $ | 3 | $ | - | $ | 1,009 | |||||||||||||||||||||||||||||
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||||
Number | Fair | Gross | Number | Fair | Gross | Number | Fair | Gross | |||||||||||||||||||||||||||||
of | Value | Unrealized | of | Value | Unrealized | of | Value | Unrealized | |||||||||||||||||||||||||||||
Securities | Losses | Securities | Losses | Securities | Losses | ||||||||||||||||||||||||||||||||
U.S. Government Agencies | 10 | $ | 26,101 | $ | (144 | ) | 1 | $ | 2,987 | $ | (13 | ) | 11 | $ | 29,088 | $ | (157 | ) | |||||||||||||||||||
Obligations of States and Political Subdivisions | 5 | 2,123 | (9 | ) | 22 | 13,590 | (107 | ) | 27 | 15,713 | (116 | ) | |||||||||||||||||||||||||
Equity Securities - Other | 1 | 48 | (1 | ) | - | - | - | 1 | 48 | (1 | ) | ||||||||||||||||||||||||||
Total | 16 | $ | 28,272 | $ | (154 | ) | 23 | $ | 16,577 | $ | (120 | ) | 39 | $ | 44,849 | $ | (274 | ) | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||||
Number | Fair | Gross | Number | Fair | Gross | Number | Fair | Gross | |||||||||||||||||||||||||||||
of | Value | Unrealized | of | Value | Unrealized | of | Value | Unrealized | |||||||||||||||||||||||||||||
Securities | Losses | Securities | Losses | Securities | Losses | ||||||||||||||||||||||||||||||||
U.S. Government Agencies | 21 | $ | 52,407 | $ | (1,043 | ) | 4 | $ | 7,834 | $ | (230 | ) | 25 | $ | 60,241 | $ | (1,273 | ) | |||||||||||||||||||
Obligations of States and Political Subdivisions | 28 | 16,489 | (409 | ) | 16 | 8,052 | (228 | ) | 44 | 24,541 | (637 | ) | |||||||||||||||||||||||||
Mortgage-Backed Securities - Government Sponsored Enterprises | 2 | 5,028 | (32 | ) | - | - | - | 2 | 5,028 | (32 | ) | ||||||||||||||||||||||||||
Equity Securities - Other | 2 | 85 | (4 | ) | - | - | - | 2 | 85 | (4 | ) | ||||||||||||||||||||||||||
Total | 53 | $ | 74,009 | $ | (1,488 | ) | 20 | $ | 15,886 | $ | (458 | ) | 73 | $ | 89,895 | $ | (1,946 | ) | |||||||||||||||||||
For debt securities, the Company does not believe any individual unrealized loss as of December 31, 2014 represents an other-than-temporary impairment. The Company performs a review of the entire securities portfolio on a quarterly basis to identify securities that may indicate an other-than-temporary impairment. The Company’s management considers the length of time and the extent to which the fair value has been less than cost and the financial condition of the issuer. The securities that are temporarily impaired at December 31, 2014 and 2013 relate principally to changes in interest rates subsequent to the acquisition of the specific securities. The Company does not intend to sell or it is not more likely than not that it will be required to sell any of the securities in an unrealized loss position before recovery of its amortized cost or maturity of the security. | |||||||||||||||||||||||||||||||||||||
Investment securities available-for-sale with a carrying value of $84.8 million and $81.8 million at December 31, 2014 and 2013, respectively, are pledged to secure public deposits, short-term borrowings and for other purposes as required or permitted by law. No held-to maturity investment securities were pledged to secure public deposits, short-term borrowings and for other purposes at December 31, 2014 or 2013. | |||||||||||||||||||||||||||||||||||||
The scheduled maturities of investment securities available-for-sale and held to maturity at December 31, 2014 are summarized as follows: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | Held to Maturity | ||||||||||||||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||||||||||||||
Due in One Year or Less | $ | 3,811 | $ | 3,865 | $ | 504 | $ | 504 | |||||||||||||||||||||||||||||
Due after One Year through Five Years | 30,353 | 30,335 | - | - | |||||||||||||||||||||||||||||||||
Due after Five Years through Ten Years | 50,593 | 50,913 | - | - | |||||||||||||||||||||||||||||||||
Due after Ten Years | 19,836 | 20,336 | - | - | |||||||||||||||||||||||||||||||||
Total | $ | 104,593 | $ | 105,449 | $ | 504 | $ | 504 | |||||||||||||||||||||||||||||
Equity Securities – Mutual Funds and Equity Securities – Other do not have a scheduled maturity date, but have been included in the Due after Ten Years category. Sales of available-for-sale investment securities in 2014 resulted in a gross gain of $60,000. There were no sales of available-for-sale investment securities during 2013. | |||||||||||||||||||||||||||||||||||||
The following tables show the Company’s Obligations of States, Municipalities and Political Subdivisions and their sources of repayment as of December 31, 2014: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||
Pennsylvania Municipalities | $ | 39,389 | $ | 40,096 | |||||||||||||||||||||||||||||||||
Pennsylvania Political Subdivisions | 2,229 | 2,286 | |||||||||||||||||||||||||||||||||||
All Other State Political Subdivisions | 497 | 503 | |||||||||||||||||||||||||||||||||||
$ | 42,115 | $ | 42,885 | ||||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||
General Obligation | $ | 39,389 | $ | 40,096 | |||||||||||||||||||||||||||||||||
Special Revenue | |||||||||||||||||||||||||||||||||||||
Public Improvement | 250 | 251 | |||||||||||||||||||||||||||||||||||
Water and Sewer | 247 | 252 | |||||||||||||||||||||||||||||||||||
Other | 2,229 | 2,286 | |||||||||||||||||||||||||||||||||||
$ | 42,115 | $ | 42,885 | ||||||||||||||||||||||||||||||||||
The Company has a concentration of states, municipal and political subdivisions in the Commonwealth of Pennsylvania, primarily in school districts. These investments are not concentrated geographically within any region of Pennsylvania as they are disbursed over the entire Commonwealth. School district bonds are backed by the individual school districts and also by the Commonwealth via an enhanced rating under the State Aid Withholding Program, Intercept Program, or Act 50 in Pennsylvania. In addition, most investments in this area also have credit support from various insuring agencies. | |||||||||||||||||||||||||||||||||||||
The Company evaluates its investments in states, municipalities, and political subdivisions both on a pre-purchase and subsequently on a quarterly basis. The evaluation includes a review of fund balances, operating revenues and expenses for the most recent five years, if available, and the trends of those metrics. In addition to this financial review, other pertinent criteria are reviewed, such as population growth in the area, median family income, poverty rates, and debt service expenditures as a percent of expenditures. Based upon these criteria, the credit worthiness of the investments is determined. Upon completion of the review, the results are compared to the published credit ratings. As a result of the Company’s review, there were no investments in states, municipalities, and political subdivisions that differed significantly from the published credit ratings. | |||||||||||||||||||||||||||||||||||||
Note_5_Loans_and_Related_Allow
Note 5 - Loans and Related Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5—LOANS AND RELATED ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||
The follow table summarizes the major classifications of loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 331,873 | $ | 164,245 | |||||||||||||||||||||||||
Commercial | 174,265 | 95,333 | |||||||||||||||||||||||||||
Construction | 22,197 | 10,367 | |||||||||||||||||||||||||||
Commercial and Industrial | 72,064 | 41,719 | |||||||||||||||||||||||||||
Consumer | 77,611 | 59,101 | |||||||||||||||||||||||||||
Other | 7,636 | 8,381 | |||||||||||||||||||||||||||
Total Loans | 685,646 | 379,146 | |||||||||||||||||||||||||||
Less Allowance for Loan Losses | (5,195 | ) | (5,382 | ) | |||||||||||||||||||||||||
Net Loans | $ | 680,451 | $ | 373,764 | |||||||||||||||||||||||||
Real estate loans serviced for others, which are not included in the Consolidated Statement of Financial Condition, totaled $62.3 million and $53.0 million at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||
Loans summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 329,417 | $ | 194 | $ | 2,243 | $ | 19 | $ | 331,873 | |||||||||||||||||||
Commercial | 154,225 | 13,373 | 5,975 | 692 | 174,265 | ||||||||||||||||||||||||
Construction | 20,963 | 101 | 789 | 344 | 22,197 | ||||||||||||||||||||||||
Commercial and Industrial | 67,171 | 4,208 | 383 | 302 | 72,064 | ||||||||||||||||||||||||
Consumer | 77,607 | - | 4 | - | 77,611 | ||||||||||||||||||||||||
Other | 7,636 | - | - | - | 7,636 | ||||||||||||||||||||||||
Total | $ | 657,019 | $ | 17,876 | $ | 9,394 | $ | 1,357 | $ | 685,646 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 163,234 | $ | 397 | $ | 604 | $ | 10 | $ | 164,245 | |||||||||||||||||||
Commercial | 78,324 | 11,859 | 335 | 4,815 | 95,333 | ||||||||||||||||||||||||
Construction | 6,712 | 2,178 | - | 1,477 | 10,367 | ||||||||||||||||||||||||
Commercial and Industrial | 37,924 | 3,480 | - | 315 | 41,719 | ||||||||||||||||||||||||
Consumer | 59,084 | - | 17 | - | 59,101 | ||||||||||||||||||||||||
Other | 8,381 | - | - | - | 8,381 | ||||||||||||||||||||||||
Total | $ | 353,659 | $ | 17,914 | $ | 956 | $ | 6,617 | $ | 379,146 | |||||||||||||||||||
At December 31, 2014 and 2013, there were no loans in the criticized category of Loss. | |||||||||||||||||||||||||||||
The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Loans | 30-59 | 60-89 | 90 Days | Total | Non- | Total | |||||||||||||||||||||||
Current | Days | Days | Or More | Past Due | Accrual | Loans | |||||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 328,314 | $ | 1,613 | $ | 34 | $ | 369 | $ | 2,016 | $ | 1,543 | $ | 331,873 | |||||||||||||||
Commercial | 170,675 | 2,525 | - | - | 2,525 | 1,065 | 174,265 | ||||||||||||||||||||||
Construction | 21,853 | - | - | - | - | 344 | 22,197 | ||||||||||||||||||||||
Commercial and Industrial | 72,053 | 7 | - | - | 7 | 4 | 72,064 | ||||||||||||||||||||||
Consumer | 77,180 | 397 | 24 | 10 | 431 | - | 77,611 | ||||||||||||||||||||||
Other | 7,636 | - | - | - | - | - | 7,636 | ||||||||||||||||||||||
Total | $ | 677,711 | $ | 4,542 | $ | 58 | $ | 379 | $ | 4,979 | $ | 2,956 | $ | 685,646 | |||||||||||||||
2013 | |||||||||||||||||||||||||||||
Loans | 30-59 | 60-89 | 90 Days | Total | Non- | Total | |||||||||||||||||||||||
Current | Days | Days | Or More | Past Due | Accrual | Loans | |||||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 163,626 | $ | 173 | $ | 107 | $ | - | $ | 280 | $ | 339 | $ | 164,245 | |||||||||||||||
Commercial | 91,686 | 592 | 390 | - | 982 | 2,665 | 95,333 | ||||||||||||||||||||||
Construction | 10,002 | - | - | - | - | 365 | 10,367 | ||||||||||||||||||||||
Commercial and Industrial | 41,711 | 8 | - | - | 8 | - | 41,719 | ||||||||||||||||||||||
Consumer | 58,789 | 288 | 7 | - | 295 | 17 | 59,101 | ||||||||||||||||||||||
Other | 8,381 | - | - | - | - | - | 8,381 | ||||||||||||||||||||||
Total | $ | 374,195 | $ | 1,061 | $ | 504 | $ | - | $ | 1,565 | $ | 3,386 | $ | 379,146 | |||||||||||||||
Total unrecorded interest income related to nonaccrual loans was $95,000 and $64,000 for 2014 and 2013, respectively. | |||||||||||||||||||||||||||||
A summary of the loans considered impaired as of December 31, 2014, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 992 | $ | - | $ | 1,017 | $ | 1,012 | $ | 51 | |||||||||||||||||||
Commercial | 6,580 | 519 | 6,640 | 7,653 | 293 | ||||||||||||||||||||||||
Construction | 1,133 | 100 | 1,133 | 1,366 | 41 | ||||||||||||||||||||||||
Commercial and Industrial | 686 | 254 | 686 | 745 | 34 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 9,391 | $ | 873 | $ | 9,476 | $ | 10,776 | $ | 419 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 65 | $ | - | $ | 86 | $ | 94 | $ | 5 | |||||||||||||||||||
Commercial | 5,407 | 640 | 5,693 | 5,960 | 245 | ||||||||||||||||||||||||
Construction | 1,477 | 265 | 1,477 | 1,692 | 54 | ||||||||||||||||||||||||
Commercial and Industrial | 315 | 253 | 315 | 316 | 13 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 7,264 | $ | 1,158 | $ | 7,571 | $ | 8,062 | $ | 317 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 1,632 | $ | 6 | $ | 1,680 | $ | 1,708 | $ | 54 | |||||||||||||||||||
Commercial | 3,343 | 871 | 3,610 | 3,904 | 185 | ||||||||||||||||||||||||
Construction | 365 | 166 | 365 | 365 | - | ||||||||||||||||||||||||
Commercial and Industrial | 430 | 85 | 1,981 | 456 | 12 | ||||||||||||||||||||||||
Consumer | 36 | - | 54 | 63 | 4 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 5,806 | $ | 1,128 | $ | 7,690 | $ | 6,496 | $ | 255 | |||||||||||||||||||
As of December 31, 2014, of the $9.4 million of loans individually evaluated for impairment, no related allowance existed for $5.3 million of commercial real estate loans, $1.1 million of residential real estate loans and $368,000 of commercial and industrial loans. All other loans individually evaluated for impairment had a related allowance. | |||||||||||||||||||||||||||||
As of December 31, 2013, of the $7.3 million of loans individually evaluated for impairment, no related allowance existed for $2.2 million of commercial real estate loans and $700,000 of residential real estate. All other loans individually evaluated for impairment had a related allowance. | |||||||||||||||||||||||||||||
At December 31, 2012, of the $5.8 million of loans individually evaluated for impairment, no related allowance existed for $1.6 million of residential real estate loans, $1.0 million of commercial real estate loans, $400,000 of consumer loans and $200,000 of commercial and industrial loans. All other loans individually evaluated for impairment had a related allowance. | |||||||||||||||||||||||||||||
Loans classified as TDRs consisted of 13 loans totaling $4.0 million and two loans totaling $543,000 as of December 31, 2014 and 2013, respectively. The following table presents the volume and recorded investment at the time of modification of the TDRs by class and type of modification that occurred during the periods ended December 31, 2014 and 2013: Nine loans classified as TDRs totaling $3.2 million were acquired in the merger with First Federal Savings Bank and are reflected in the 2014 table below. In addition, two loans totaling $317,000 and one loan totaling $259,000 in 2014 and 2013, respectively, had both a temporary rate modification and extension of maturity and are reflected in both categories. | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Temporary Rate | Extension of Maturity | Modification of Payment | |||||||||||||||||||||||||||
Modification | and Other Terms | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Residential | - | $ | - | - | $ | - | 3 | $ | 1,343 | ||||||||||||||||||||
Commercial | 2 | 317 | 5 | 1,507 | 3 | 629 | |||||||||||||||||||||||
Total | 2 | $ | 317 | 5 | $ | 1,507 | 6 | $ | 1,972 | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Temporary Rate | Extension of Maturity | Modification of Payment | |||||||||||||||||||||||||||
Modification | and Other Terms | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 259 | 1 | $ | 259 | - | $ | - | ||||||||||||||||||||
Total | 1 | $ | 259 | 1 | $ | 259 | - | $ | - | ||||||||||||||||||||
Loans acquired in connection to the merger with First Federal Savings Bank were recorded at their estimated fair value at the acquisition date and did not include a carryover of the allowance for loan losses because the determination of the fair value of acquired loans incorporated credit risk assumptions. The loans acquired with evidence of deterioration in credit quality since origination for which it was probable that all contractually required payments would not be collected were not significant to the consolidated financial statements of the Company. | |||||||||||||||||||||||||||||
The activity in the Allowance for Loan Loss summarized by primary segments and segregated into the amount required for loans Individually Evaluated for Impairment and the amount required for loans Collectively Evaluated for Potential Impairment as of December 31, 2014, 2013 and 2012: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 1,481 | $ | 1,703 | $ | 355 | $ | 1,013 | $ | 592 | $ | 238 | $ | 5,382 | |||||||||||||||
Charge-offs | (39 | ) | - | (38 | ) | - | (195 | ) | - | (272 | ) | ||||||||||||||||||
Recoveries | 2 | - | - | 5 | 78 | - | 85 | ||||||||||||||||||||||
Provision | 1,246 | (1,121 | ) | (195 | ) | (334 | ) | 540 | (136 | ) | - | ||||||||||||||||||
Ending Balance | $ | 2,690 | $ | 582 | $ | 122 | $ | 684 | $ | 1,015 | $ | 102 | $ | 5,195 | |||||||||||||||
Individually Evaluated for Impairment | $ | - | $ | 519 | $ | 100 | $ | 254 | $ | - | $ | - | $ | 873 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 2,690 | $ | 63 | $ | 22 | $ | 430 | $ | 1,015 | $ | 102 | $ | 4,322 | |||||||||||||||
2013 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 2,215 | $ | 2,051 | $ | 326 | $ | 1,043 | $ | 320 | $ | (51 | ) | $ | 5,904 | ||||||||||||||
Charge-offs | (181 | ) | (555 | ) | - | (109 | ) | (96 | ) | - | (941 | ) | |||||||||||||||||
Recoveries | 86 | 69 | - | 68 | 96 | - | 319 | ||||||||||||||||||||||
Provision | (639 | ) | 138 | 29 | 11 | 272 | 289 | 100 | |||||||||||||||||||||
Ending Balance | $ | 1,481 | $ | 1,703 | $ | 355 | $ | 1,013 | $ | 592 | $ | 238 | $ | 5,382 | |||||||||||||||
Individually Evaluated for Impairment | $ | - | $ | 640 | $ | 265 | $ | 253 | $ | - | $ | - | $ | 1,158 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 1,481 | $ | 1,063 | $ | 90 | $ | 760 | $ | 592 | $ | 238 | $ | 4,224 | |||||||||||||||
2012 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 902 | $ | 3,271 | $ | 436 | $ | 983 | $ | 287 | $ | - | $ | 5,879 | |||||||||||||||
Charge-offs | (71 | ) | (103 | ) | - | (255 | ) | (167 | ) | - | (596 | ) | |||||||||||||||||
Recoveries | 49 | - | - | 49 | 73 | - | 171 | ||||||||||||||||||||||
Provision | 1,335 | (1,117 | ) | (110 | ) | 266 | 127 | (51 | ) | 450 | |||||||||||||||||||
Ending Balance | $ | 2,215 | $ | 2,051 | $ | 326 | $ | 1,043 | $ | 320 | $ | (51 | ) | $ | 5,904 | ||||||||||||||
Individually Evaluated for Impairment | $ | 6 | $ | 871 | $ | 166 | $ | 85 | $ | - | $ | - | $ | 1,128 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 2,209 | $ | 1,180 | $ | 160 | $ | 958 | $ | 320 | $ | (51 | ) | $ | 4,776 | ||||||||||||||
Major classifications of loans summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Impairment as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Other | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 992 | $ | 6,580 | $ | 1,133 | $ | 686 | $ | - | $ | - | $ | 9,391 | |||||||||||||||
Collectively Evaluated for Potential Impairment | 330,881 | 167,685 | 21,064 | 71,378 | 77,611 | 7,636 | 676,255 | ||||||||||||||||||||||
$ | 331,873 | $ | 174,265 | $ | 22,197 | $ | 72,064 | $ | 77,611 | $ | 7,636 | $ | 685,646 | ||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Other | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 65 | $ | 5,407 | $ | 1,477 | $ | 315 | $ | - | $ | - | $ | 7,264 | |||||||||||||||
Collectively Evaluated for Potential Impairment | 164,180 | 89,926 | 8,890 | 41,404 | 59,101 | 8,381 | 371,882 | ||||||||||||||||||||||
$ | 164,245 | $ | 95,333 | $ | 10,367 | $ | 41,719 | $ | 59,101 | $ | 8,381 | $ | 379,146 | ||||||||||||||||
Certain directors, executive officers, and principal stockholders of the Company, including companies in which they are principal owners, are loan customers of the Company. Such loans are made in the normal course of business, and summarized as follows: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Balance, January 1 | $ | 3,394 | $ | 3,511 | |||||||||||||||||||||||||
Additions | 4,077 | 142 | |||||||||||||||||||||||||||
Payments | (130 | ) | (259 | ) | |||||||||||||||||||||||||
Balance, December 31 | $ | 7,341 | $ | 3,394 | |||||||||||||||||||||||||
Note_6_Premises_and_Equipment
Note 6 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6—PREMISES AND EQUIPMENT | ||||||||
Major classifications of premises and equipment are summarized as follows: | |||||||||
(Dollars in thousands) | |||||||||
2014 | 2013 | ||||||||
Land | $ | 1,678 | $ | 1,112 | |||||
Building | 10,996 | 4,177 | |||||||
Leasehold Improvements | 1,701 | 1,625 | |||||||
Furniture, Fixtures, and Equipment | 9,684 | 7,808 | |||||||
Property Held Under Capital Lease | 299 | 299 | |||||||
24,358 | 15,021 | ||||||||
Less Accumulated Depreciation and Amortization | (13,765 | ) | (10,409 | ) | |||||
Total Premises and Equipment | $ | 10,593 | $ | 4,612 | |||||
Depreciation and amortization expense on premises and equipment was $509,000, $478,000, and $424,000 for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||
Note_7_Core_Deposit_Intangible
Note 7 - Core Deposit Intangible | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Intangible Assets Disclosure [Text Block] | NOTE 7—CORE DEPOSIT INTANGIBLE | ||||||||||||
A summary of core deposit intangible assets is as follows: | |||||||||||||
(Dollars in thousands) | |||||||||||||
Gross | Accumulated | Net Carrying | |||||||||||
Carrying | Amortization | Amount | |||||||||||
Amount | |||||||||||||
Balance at December 31, 2012 | $ | 2,193 | $ | (2,140 | ) | $ | 53 | ||||||
Amortization Expense | - | (53 | ) | (53 | ) | ||||||||
Balance at December 31, 2013 | 2,193 | (2,193 | ) | - | |||||||||
Merger with FedFirst Financial Corporation | 4,977 | - | 4,977 | ||||||||||
Amortization Expense | - | (89 | ) | (89 | ) | ||||||||
Balance at December 31, 2014 | $ | 4,977 | $ | (89 | ) | $ | 4,888 | ||||||
Core deposit intangible asset related to the merger totaled $5.0 million with an estimated life of approximately 9 years. Amortization expense on the core deposit intangible is expected to be approximately $535,000 per year and will total approximately $2.7 million over the next five years. | |||||||||||||
Note_8_Deposits
Note 8 - Deposits | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Disclosure Text Block [Abstract] | |||||
Deposit Liabilities Disclosures [Text Block] | NOTE 8—DEPOSITS | ||||
The following table shows the maturities of time deposits for the next five years and beyond as of December 31, 2014 (dollars in thousands): | |||||
2014 | |||||
2015 | $ | 54,185 | |||
2016 | 43,679 | ||||
2017 | 14,737 | ||||
2018 | 15,460 | ||||
2019 | 9,791 | ||||
Beyond 2019 | 13,742 | ||||
Total | $ | 151,594 | |||
The balance in time deposits that meet or exceed the FDIC insurance limit of $250,000 totaled $26.9 million and $15.8 million as of December 31, 2014 and 2013, respectively. | |||||
Note_9_Federal_Funds_Purchased
Note 9 - Federal Funds Purchased and Short-term Borrowings | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||
Short-term Debt [Text Block] | NOTE 9—FEDERAL FUNDS PURCHASED AND SHORT-TERM BORROWINGS | ||||||||||||||||
The components of federal funds purchased and short-term borrowings are summarized as follows: | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Weighted | Amount | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Federal Funds Purchased | |||||||||||||||||
Average Balance Outstanding During the Year | $ | 375 | 0.46 | % | $ | 672 | 0.47 | % | |||||||||
Maximum Amount Outstanding at any Month End | 1,850 | 4,100 | |||||||||||||||
Short-term Borrowings | |||||||||||||||||
Balance at Year-End | 25,800 | 0.32 | - | - | |||||||||||||
Average Balance Outstanding During the Year | 4,283 | 0.31 | - | - | |||||||||||||
Maximum Amount Outstanding at any Month End | 25,800 | - | |||||||||||||||
Securities Sold Under Agreements to Repurchase | |||||||||||||||||
Balance at Year-End | 20,884 | 0.17 | 15,384 | 0.28 | |||||||||||||
Average Balance Outstanding During the Year | 17,525 | 0.26 | 21,035 | 0.27 | |||||||||||||
Maximum Amount Outstanding at any Month End | 25,893 | 25,683 | |||||||||||||||
Securities Collaterizing the Agreements at Year-End: | |||||||||||||||||
Carrying Value | 23,244 | 25,399 | |||||||||||||||
Market Value | 23,243 | 24,921 | |||||||||||||||
Note_10_Other_Borrowed_Funds
Note 10 - Other Borrowed Funds | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||
Debt Disclosure [Text Block] | NOTE 10—OTHER BORROWED FUNDS | ||||||||||||||||
Other borrowed funds consist of fixed rate advances from the FHLB with contractual maturities as follows: | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Weighted | Amount | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Due in One Year | $ | 15,136 | 3.78 | % | $ | 1,000 | 2.26 | % | |||||||||
Due After One Year to Two Years | - | - | 3,000 | 3.6 | |||||||||||||
Total | $ | 15,136 | 3.78 | $ | 4,000 | 3.27 | |||||||||||
As of December 31, 2014, the Company maintains a credit arrangement with a maximum borrowing limit of approximately $277.9 million with the FHLB. This arrangement is subject to annual renewal, incurs no service charge, and is secured by a blanket security agreement on outstanding residential mortgage loans and the Company’s investment in FHLB stock. Under this arrangement the Company had available a variable rate line of credit in the amount of $20.0 million as of December 31, 2014 and 2013. | |||||||||||||||||
A Borrower-In-Custody of Collateral agreement was entered into with the Federal Reserve Bank for a $40.0 million line of credit. This credit agreement requires quarterly certification of collateral, is subject to annual renewal, incurs no service charge and is secured by commercial and consumer indirect loans. As of December 31, 2014, this facility had not been used. | |||||||||||||||||
Note_11_Income_Taxes
Note 11 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | NOTE 11—INCOME TAXES | ||||||||||||||||||||||||
The provision for income taxes is summarized as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Current Payable | $ | 391 | $ | 968 | $ | 1,021 | |||||||||||||||||||
Deferred | 1,218 | 192 | 14 | ||||||||||||||||||||||
Total Provision | $ | 1,609 | $ | 1,160 | $ | 1,035 | |||||||||||||||||||
The tax effects of deductible and taxable temporary differences that gave rise to significant portions of the net deferred tax assets and liabilities are as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||
Allowance for Loan Losses | $ | 1,624 | $ | 1,548 | |||||||||||||||||||||
Amortization of Core Deposit Intangible | 55 | 95 | |||||||||||||||||||||||
Amortization of Intangibles | 123 | - | |||||||||||||||||||||||
Tax Credit Carryforwards | 290 | - | |||||||||||||||||||||||
Postretirement Benefits | 62 | - | |||||||||||||||||||||||
Net Unrealized Loss on Securities | - | 393 | |||||||||||||||||||||||
Discount Accretion | - | 13 | |||||||||||||||||||||||
Passthrough Entities | 4 | 3 | |||||||||||||||||||||||
Other | 182 | 129 | |||||||||||||||||||||||
Gross Deferred Tax Assets | 2,340 | 2,181 | |||||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||
Deferred Origination Fees and Costs | 411 | 164 | |||||||||||||||||||||||
Depreciation | 522 | 604 | |||||||||||||||||||||||
Net Unrealized Gain on Securities | 291 | - | |||||||||||||||||||||||
Mortgage Servicing Rights | 172 | 157 | |||||||||||||||||||||||
Purchase Accounting Adjustments | 1,552 | - | |||||||||||||||||||||||
Goodwill | 508 | 473 | |||||||||||||||||||||||
Other | 3 | - | |||||||||||||||||||||||
Gross Deferred Tax Liabilities | 3,459 | 1,398 | |||||||||||||||||||||||
Net Deferred Tax (Liabilities) Assets | $ | (1,119 | ) | $ | 783 | ||||||||||||||||||||
The tax credit carryforwards expiring in 2025 are available to offset future taxes payable. No valuation allowance was established against the deferred tax assets in view of the Company’s ability to carryback taxes paid in previous years and certain tax strategies and anticipated future taxable income as evidenced by the Company’s earnings potential at December 31, 2014, 2013 and 2012. | |||||||||||||||||||||||||
A reconciliation of the federal income tax expense at statutory income tax rates and the actual income tax expense on income before taxes is shown below: | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Amount | Percent of | Amount | Percent of | Amount | Percent of | ||||||||||||||||||||
Pre-tax | Pre-tax | Pre-tax | |||||||||||||||||||||||
Income | Income | Income | |||||||||||||||||||||||
Provision at Statutory Rate | $ | 2,006 | 34 | % | $ | 1,841 | 34 | % | $ | 1,786 | 34 | % | |||||||||||||
State Taxes (Net of Federal Benefit) | 4 | 0.1 | - | - | - | - | |||||||||||||||||||
Effect of Tax-Free Income | (475 | ) | (8.0 | ) | (527 | ) | (9.7 | ) | (658 | ) | (12.5 | ) | |||||||||||||
BOLI Income | (90 | ) | (1.5 | ) | (80 | ) | (1.5 | ) | (88 | ) | (1.7 | ) | |||||||||||||
Merger Expenses | 460 | 7.8 | - | - | - | - | |||||||||||||||||||
Other | (296 | ) | (5.1 | ) | (74 | ) | (1.4 | ) | (5 | ) | (0.1 | ) | |||||||||||||
Actual Tax Expense and Effective Rate | $ | 1,609 | 27.3 | % | $ | 1,160 | 21.4 | % | $ | 1,035 | 19.7 | % | |||||||||||||
Deferred taxes at December 31, 2014 and 2013 are included in other assets in the accompanying Consolidated Statement of Financial Condition. | |||||||||||||||||||||||||
The Company’s federal and Pennsylvania income tax returns are no longer subject to examination by federal or Commonwealth of Pennsylvania taxing authorities for years before 2011. As of December 31, 2014 and 2013, there were no unrecognized tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. There were no interest or penalties accrued at December 31, 2014 and 2013. | |||||||||||||||||||||||||
Note_12_Employee_Benefits
Note 12 - Employee Benefits | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 12—EMPLOYEE BENEFITS | ||||||||||||||||||||||||
SAVINGS AND PROFIT SHARING PLAN | |||||||||||||||||||||||||
The Company maintains a Cash or Deferred Profit-sharing Section 401(k) Plan with contributions matching those by eligible employees for the first 4 percent of an employee’s contribution at the rate of $0.25 on the dollar. All employees who work over 1,000 hours per year are eligible to participate in the plan. The Company made contributions of $61,000, $41,000, and $40,000 in 2014, 2013 and 2012, respectively, to this plan. The 401(k) Plan includes a “safe harbor” provision and a discretionary retirement contribution. The Company made contributions of $476,000, $411,000 and $420,000 for the “safe harbor” provision in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
STOCK OPTION PLAN | |||||||||||||||||||||||||
The Company maintained an Incentive Stock Option Plan for executive management, a Supplemental Stock Option Plan for all full-time employees, and a Directors’ Stock Option Plan for all outside directors. All three plans provided for the granting of options at the discretion of the Board of Directors, and all options typically vested over five years at a rate of 20% per year and had expiration terms of ten years subject to certain extensions and early terminations. Under the Incentive Stock Option Plan, the first option grants were awarded on May 17, 2000. First option grants under the Supplemental Stock Option Plan and the Directors’ Stock Option Plan were awarded on May 16, 2001. The per share exercise price of an option granted cannot be less than the fair value of a share of common stock at the time the option is granted. The Company has a policy of issuing new shares to satisfy share option exercises. All stock option plans have expired. No compensation expense was recognized on stock options for the periods ended December 31, 2014, 2013 and 2012, In addition, no tax benefits were realized for the tax deductions from non-qualifying stock options exercised for the periods ended December 31, 2014, 2013 and 2012. | |||||||||||||||||||||||||
The following table presents shares data related to the stock plans: | |||||||||||||||||||||||||
2014 | Weighted | 2013 | Weighted | 2012 | Weighted | ||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||||||
Price | Price | Price | |||||||||||||||||||||||
Outstanding, January 1 | 14,515 | $ | 14.25 | 38,320 | $ | 14.48 | 65,235 | $ | 14.36 | ||||||||||||||||
Exercised | (14,515 | ) | 14.25 | (23,405 | ) | 14.62 | (26,915 | ) | 14.19 | ||||||||||||||||
Forfeited | - | - | (400 | ) | 14.5 | - | - | ||||||||||||||||||
Outstanding, December 31 | - | - | 14,515 | 14.25 | 38,320 | 14.48 | |||||||||||||||||||
Exercisable, December 31 | - | - | 14,515 | 14.25 | 38,320 | 14.48 | |||||||||||||||||||
At December 31, 2014, there were no unexercised stock options. At December 31, 2014 and 2013, the Company did not have any unvested stock options outstanding. | |||||||||||||||||||||||||
Note_13_Commitments_and_Contin
Note 13 - Commitments and Contingent Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Commitments and Contingencies Disclosure [Text Block] | NOTE 13—COMMITMENTS AND CONTINGENT LIABILITIES | ||||||||
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business primarily to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and performance letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Statement of Financial Condition. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. | |||||||||
The Company’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 and performance letters of credit written is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | |||||||||
The unused and available credit balances of financial instruments whose contracts represent credit risk at December 31, 2014 and 2013 are as follows: | |||||||||
(Dollars in thousands) | |||||||||
2014 | 2013 | ||||||||
Standby Letters of Credit | $ | 18,260 | $ | 693 | |||||
Performance Letters of Credit | 2,986 | 1,534 | |||||||
Construction Mortgages | 12,241 | 9,939 | |||||||
Personal Lines of Credit | 5,675 | 5,502 | |||||||
Overdraft Protection Lines | 6,505 | 6,552 | |||||||
Home Equity Lines of Credit | 13,253 | 8,155 | |||||||
Commercial Lines of Credit | 54,301 | 42,393 | |||||||
$ | 113,221 | $ | 74,768 | ||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. | |||||||||
Performance letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments are issued primarily to support bid or performance-related contracts. The coverage period for these instruments is typically a one-year period with an annual renewal option subject to prior approval by management. Fees earned from the issuance of these letters are recognized upon expiration of the letter. For secured letters of credit, the collateral is typically Company deposit instruments or customer business assets. | |||||||||
Note_14_Regulatory_Capital
Note 14 - Regulatory Capital | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 14—REGULATORY CAPITAL | ||||||||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, each must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification 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 Company and the Bank to maintain minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2014, that the Company and the Bank meet all capital adequacy requirements to which they are subject. | |||||||||||||||||
As of December 31, 2014, the most recent notification from the Federal Deposit Insurance Corporation categorized the Company as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. | |||||||||||||||||
The Bank’s actual capital ratios are presented in the following table, which shows that it met all regulatory capital requirements at December 31, 2014 and 2013. The Company’s capital ratios are comparable to those shown for the Bank. | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||
Total Capital (to Risk-Weighted Assets) | |||||||||||||||||
Actual | $ | 74,484 | 12.5 | % | $ | 46,578 | 12.98 | % | |||||||||
For Capital Adequacy Purposes | 47,680 | 8 | 28,709 | 8 | |||||||||||||
To Be Well Capitalized | 59,600 | 10 | 35,885 | 10 | |||||||||||||
Tier I Capital (to Risk-Weighted Assets) | |||||||||||||||||
Actual | 69,340 | 11.63 | 42,081 | 11.73 | |||||||||||||
For Capital Adequacy Purposes | 23,840 | 4 | 14,354 | 4 | |||||||||||||
To Be Well Capitalized | 35,760 | 6 | 21,531 | 6 | |||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||
Actual | 69,340 | 9.33 | 42,081 | 7.7 | |||||||||||||
For Capital Adequacy Purposes | 29,719 | 4 | 21,863 | 4 | |||||||||||||
To Be Well Capitalized | 37,149 | 5 | 27,329 | 5 | |||||||||||||
Basel is a committee of central banks and bank regulators from major industrialized countries that develops broad policy guidelines for use by each country’s regulators with the purpose of ensuring that financial institutions have adequate capital given the risk levels of assets and off-balance sheet financial instruments. On July 2, 2013, the Federal Reserve approved final rules that substantially amend the regulatory risk-based capital rules. The FDIC and the OCC have subsequently approved these rules. The final rules were adopted following the issuance of proposed rules by the Federal Reserve in June 2012, and implement the “Basel III” regulatory capital reforms and changes required by the Dodd-Frank Act. “Basel III” refers to two consultative documents released by the Basel Committee on Banking Supervision in December 2009, the rules text released in December 2010, and loss absorbency rules issued in January 2011, which include significant changes to bank capital, leverage and liquidity requirements. | |||||||||||||||||
The rules include new risk-based capital and leverage ratios, which would be phased in from 2015 to 2019, and would refine the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to institutions under the final rules would be: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 capital ratio of 6% (increased from 4%); (iii) a total capital ratio of 8% (unchanged from current rules); and (iv) a Tier 1 leverage ratio of 4% for all institutions. | |||||||||||||||||
The final rules also establish a “capital conservation buffer” above the new regulatory minimum capital requirements, which must consist entirely of common equity Tier 1 capital. The capital conservation buffer will be phased-in over four years beginning on January 1, 2016, as follows: the maximum buffer will be 0.625% of risk-weighted assets for 2016, 1.25% for 2017, 1.875% for 2018, and 2.5% for 2019 and thereafter. This will result in the following minimum ratios beginning in 2019: (i) a common equity Tier 1 capital ratio of 7.0%, (ii) a Tier 1 capital ratio of 8.5%, and (iii) a total capital ratio of 10.5%. Under the final rules, institutions are subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. | |||||||||||||||||
Basel III provided discretion for regulators to impose an additional buffer, the “countercyclical buffer,” of up to 2.5% of common equity Tier 1 capital to take into account the macro-financial environment and periods of excessive credit growth. However, the final rules permit the countercyclical buffer to be applied only to “advanced approach banks” ( i.e. , banks with $250 billion or more in total assets or $10 billion or more in total foreign exposures). The final rules also implement revisions and clarifications consistent with Basel III regarding the various components of Tier 1 capital, including common equity, unrealized gains and losses, as well as certain instruments that will no longer qualify as Tier 1 capital, some of which will be phased out over time. However, the final rules provide that small depository institution holding companies with less than $15 billion in total assets as of December 31, 2009 will be able to permanently include non-qualifying instruments that were issued and included in Tier 1 or Tier 2 capital prior to May 19, 2010 in additional Tier 1 or Tier 2 capital until they redeem such instruments or until the instruments mature. | |||||||||||||||||
The final rules also contain revisions to the prompt corrective action framework, which is designed to place restrictions on insured depository institutions if their capital levels begin to show signs of weakness. These revisions take effect January 1, 2015. Under the prompt corrective action requirements, which are designed to complement the capital conservation buffer, insured depository institutions will be required to meet the following increased capital level requirements in order to qualify as “well capitalized:” (i) a new common equity Tier 1 capital ratio of 6.5%; (ii) a Tier 1 capital ratio of 8% (increased from 6%); (iii) a total capital ratio of 10% (unchanged from current rules); and (iv) a Tier 1 leverage ratio of 5% (increased from 4%). | |||||||||||||||||
The final rules set forth certain changes for the calculation of risk-weighted assets, which we will be required to utilize beginning January 1, 2015. The standardized approach final rule utilizes an increased number of credit risk exposure categories and risk weights, and also addresses: (i) an alternative standard of creditworthiness consistent with Section 939A of the Dodd-Frank Act; (ii) revisions to recognition of credit risk mitigation; (iii) rules for risk weighting of equity exposures and past due loans; (iv) revised capital treatment for derivatives and repo-style transactions; and (v) disclosure requirements for top-tier banking organizations with $50 billion or more in total assets that are not subject to the “advance approach rules” that apply to banks with greater than $250 billion in consolidated assets. | |||||||||||||||||
Note_15_Operating_Leases
Note 15 - Operating Leases | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Leases [Abstract] | |||||
Leases of Lessee Disclosure [Text Block] | NOTE 15—OPERATING LEASES | ||||
The Company leases several offices or the ground on which they are located under operating leases expiring by 2034. | |||||
Minimum future rental payments under noncancelable operating leases having remaining terms in excess of one year at December 31, 2014 are as follows (dollars in thousands): | |||||
2014 | |||||
2015 | $ | 448 | |||
2016 | 449 | ||||
2017 | 369 | ||||
2018 | 290 | ||||
2019 | 140 | ||||
2020 & thereafter | 662 | ||||
$ | 2,358 | ||||
Rental expense recorded was $483,000, $467,000 and $368,000 for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||
Note_16_Fair_Value_Disclosure
Note 16 - Fair Value Disclosure | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Fair Value Disclosures [Text Block] | NOTE 16—FAIR VALUE DISCLOSURE | |||||||||||||||||
FASB ASC 820 “Fair Value Measurement” defines fair value and provides the framework for measuring fair value and required disclosures about fair value measurements. Fair value is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability at the market date. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used in valuation methods to determine fair value. | ||||||||||||||||||
The three levels of fair value hierarchy are as follows: | ||||||||||||||||||
Level I – | Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets. These generally provide the most reliable evidence and are used to measure fair value whenever available. | |||||||||||||||||
Level II – | Fair value is based on significant inputs, other than Level I inputs, that are observable either directly or indirectly for substantially the full term of the asset through corroboration with observable market data. Level II inputs include quoted market prices in active markets for similar assets, quoted market prices in markets that are not active for identical or similar assets, and other observable inputs. | |||||||||||||||||
Level III – | Fair value would be based on significant unobservable inputs. Examples of valuation methodologies that would result in Level III classification include option pricing models, discounted cash flows, and other similar techniques. | |||||||||||||||||
This hierarchy requires the use of observable market data when available. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. | ||||||||||||||||||
The following table presents the financial assets measured at fair value on a recurring basis and reported on the Consolidated Statement of Financial Condition as of December 31, 2014 and 2013, by level within the fair value hierarchy. The majority of the Company’s securities are included in Level II of the fair value hierarchy. Fair values for Level II securities were primarily determined by a third party pricing service using both quoted prices for similar assets, when available, and model-based valuation techniques that derive fair value based on market-corroborated data, such as instruments with similar prepayment speeds and default interest rates. The standard inputs that are normally used include benchmark yields of like securities, reportable trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||
Valuation | December 31, | |||||||||||||||||
Technique | 2014 | 2013 | ||||||||||||||||
Available for Sales Securities: | ||||||||||||||||||
U.S. Government Agencies | Level II | $ | 57,651 | $ | 76,294 | |||||||||||||
Equity Securities - Mutual Funds | Level I | 514 | 535 | |||||||||||||||
Equity Securities - Other | Level I | 630 | 553 | |||||||||||||||
Obligations of States and Political Subdivisions | Level II | 42,381 | 50,502 | |||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | Level II | 4,273 | 5,926 | |||||||||||||||
Total Available for Sale Securities | $ | 105,449 | $ | 133,810 | ||||||||||||||
The following table presents the financial assets measured at fair value on a nonrecurring basis on the Consolidated Statement of Financial Condition as of the dates indicated by level within the fair value hierarchy. The table also presents the significant unobservable inputs used in the fair value measurements. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loans include: quoted market prices for identical assets classified as Level I inputs; observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. | ||||||||||||||||||
(Dollars in thousands) | Significant | |||||||||||||||||
Valuation | Fair Value at December 31, | Valuation | Significant | Unobservable | ||||||||||||||
Financial Asset | Technique | 2014 | 2013 | Techniques | Unobservable Inputs | Input Value | ||||||||||||
Impaired Loans | Level III | $ 1,959 | $ 3,833 | Market Comparable Properties | Marketability Discount | 10% | to | 30% | (1) | |||||||||
OREO | Level III | 77 | 229 | Market Comparable Properties | Marketability Discount | 10% | to | 50% | (1) | |||||||||
(1) | Range includes discounts taken since appraisal and estimated values. | |||||||||||||||||
Impaired loans are evaluated and valued at the time the loan is identified as impaired, at the lower of cost or fair value. Fair value is measured based on the value of the collateral securing these loans and is classified as Level III in the fair value hierarchy. At December 31, 2014 and 2013, the fair value of impaired loans consists of the loan balance of $9.4 million and $7.3 million less their specific valuation allowances of $873,000 and $1.2 million, respectively. | ||||||||||||||||||
Financial instruments are defined as cash, evidence of an ownership in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. | ||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If no readily available market exists, the fair value estimates for financial instruments should be based upon management’s judgment regarding current economic conditions, interest rate risk, expected cash flows, future estimated losses and other factors, as determined through various option pricing formulas or simulation modeling. As many of these assumptions result from judgments made by management based upon estimates which are inherently uncertain, the resulting estimated fair values may not be indicative of the amount realizable in the sale of a particular financial instrument. In addition, changes in the assumptions on which the estimated fair values are based may have significant impact on the resulting estimated fair values. | ||||||||||||||||||
As certain assets such as deferred tax assets and premises and equipment are not considered financial instruments, the estimated fair value of financial instruments would not represent the full value of the Company. | ||||||||||||||||||
The Company employed simulation modeling in determining the estimated fair value of financial instruments for which quoted market prices were not available, based upon the following assumptions: | ||||||||||||||||||
Cash and Due From Banks, Restricted Stock, Bank-Owned Life Insurance, Accrued Interest Receivable, Short-Term Borrowings, and Accrued Interest Payable | ||||||||||||||||||
The fair value is equal to the current carrying value. | ||||||||||||||||||
Investment Securities | ||||||||||||||||||
The fair value of investment securities is equal to the available quoted market price. If no quoted market price is available, fair value is estimated using the quoted market price for similar securities or matrix pricing, 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. | ||||||||||||||||||
Loans Receivable | ||||||||||||||||||
For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for certain mortgage loans, credit card loans, and other consumer loans are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. Fair values for other loans are estimated using discounted cash flow analyses, using market interest rates for comparable loans. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | ||||||||||||||||||
Deposit Liabilities | ||||||||||||||||||
The fair values disclosed for demand deposits, are, by definition, equal to the amount payable on demand at the reporting date. The carrying amounts of variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on comparable instruments to a schedule of aggregated expected monthly maturities on time deposits. | ||||||||||||||||||
Borrowed Funds | ||||||||||||||||||
Fair values of borrowed funds are estimated using discounted cash flow analyses based on current market rates for similar types of borrowing arrangements. | ||||||||||||||||||
Commitments to Extend Credit | ||||||||||||||||||
These financial instruments are generally not subject to sale and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment or letter of credit, and the fair value determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure. The contractual amounts of unfunded commitments and letters of credit are presented in Note 13. | ||||||||||||||||||
The estimated fair values of the Company’s financial instruments at December 31, 2014 and 2013 are as follows: | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
Valuation | Carrying | Fair | Carrying | Fair | ||||||||||||||
Method | Value | Value | Value | Value | ||||||||||||||
Used | ||||||||||||||||||
Financial Assets: | ||||||||||||||||||
Cash and Due From Banks: | ||||||||||||||||||
Interest Bearing | Level I | $ | 5,933 | $ | 5,933 | $ | 9,333 | $ | 9,333 | |||||||||
Non-Interest Bearing | Level I | 5,818 | 5,818 | 7,084 | 7,084 | |||||||||||||
Investment Securities: | ||||||||||||||||||
Available for Sale | See Above | 105,449 | 105,449 | 133,810 | 133,810 | |||||||||||||
Held to Maturity | Level II | 504 | 504 | 1,006 | 1,009 | |||||||||||||
Loans, Net | Level III | 680,451 | 695,844 | 373,764 | 384,664 | |||||||||||||
Restricted Stock | Level II | 3,390 | 3,390 | 1,770 | 1,770 | |||||||||||||
Bank-Owned Life Insurance | Level II | 17,735 | 17,735 | 8,702 | 8,702 | |||||||||||||
Accrued Interest Receivable | Level I | 2,543 | 2,543 | 1,866 | 1,866 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Deposits | Level III | 697,494 | 698,418 | 480,335 | 482,704 | |||||||||||||
Short-term Borrowings | Level I | 46,684 | 46,684 | 15,384 | 15,384 | |||||||||||||
Other Borrowed Funds | Level III | 15,136 | 15,305 | 4,000 | 4,148 | |||||||||||||
Accrued Interest Payable | Level I | 348 | 348 | 267 | 267 | |||||||||||||
Off-Balance Sheet Instruments: | ||||||||||||||||||
Commitments to Extend Credit | Level III | - | - | - | - | |||||||||||||
Note_17_Condensed_Financial_St
Note 17 - Condensed Financial Statements of Parent Company | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 17—CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY | ||||||||||||
Financial information pertaining only to CB Financial Services, Inc. is as follows: | |||||||||||||
Statement of Financial Condition | |||||||||||||
(Dollars in thousands) | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
ASSETS | |||||||||||||
Cash and Due From Banks | $ | 125 | $ | 973 | |||||||||
Investment Securities, Available-for-Sale | 630 | 553 | |||||||||||
Investment in Community Bank | 80,388 | 43,494 | |||||||||||
Other Assets | 781 | - | |||||||||||
TOTAL ASSETS | $ | 81,924 | $ | 45,020 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
Other Liabilities | $ | 12 | $ | 15 | |||||||||
Stockholders Equity | 81,912 | 45,005 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 81,924 | $ | 45,020 | |||||||||
Statement of Income | |||||||||||||
(Dollars in thousands) | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest and Dividend Income | $ | 28 | $ | 19 | $ | - | |||||||
Dividend from bank subsidiary | 4,607 | 2,071 | 2,053 | ||||||||||
Noninterest Income | 35 | - | - | ||||||||||
Noninterest Expense | 1,972 | 3 | - | ||||||||||
Income Before Undistributed Net Income of Subsidiary and Income Taxes | 2,698 | 2,087 | 2,053 | ||||||||||
Undistributed Net Income of Subsidiary | 1,399 | 2,169 | 2,164 | ||||||||||
Income Before Income Taxes | 4,097 | 4,256 | 4,217 | ||||||||||
Income Taxes | (195 | ) | - | - | |||||||||
NET INCOME | $ | 4,292 | $ | 4,256 | $ | 4,217 | |||||||
Statement of Cash Flows | |||||||||||||
(Dollars in thousands) | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
OPERATING ACTIVITIES | |||||||||||||
Net Income | $ | 4,292 | $ | 4,256 | $ | 4,217 | |||||||
Αdjustmеnts to Rеconcilе Net Income to Net Cash (Used In) Provided By Operating Activities: | |||||||||||||
Undistributed Net Income of Subsidiary | (1,399 | ) | (2,169 | ) | (2,164 | ) | |||||||
Gain on Sales of Investment Securities | (35 | ) | - | - | |||||||||
Other, net | (34,965 | ) | 4 | - | |||||||||
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (32,107 | ) | 2,091 | 2,053 | |||||||||
INVESTING ACTIVITIES | |||||||||||||
Purchases of Securities | (110 | ) | (513 | ) | - | ||||||||
Proceeds from Sales of Securities | 82 | - | - | ||||||||||
NET CASH USED IN INVESTING ACTIVITIES | (28 | ) | (513 | ) | - | ||||||||
FINANCING ACTIVITIES | |||||||||||||
Cash Dividends Paid | (2,333 | ) | (2,072 | ) | (2,053 | ) | |||||||
Treasury Stock, Purchases at Cost | (2,896 | ) | - | - | |||||||||
Issuance of Common Stock | 36,310 | - | - | ||||||||||
Exercise of Stock Options | 206 | 343 | 381 | ||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 31,287 | (1,729 | ) | (1,672 | ) | ||||||||
(DECREASE) INCREASE IN CASH AND EQUIVALENTS | (848 | ) | (151 | ) | 381 | ||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 973 | 1,124 | 743 | ||||||||||
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ | 125 | $ | 973 | $ | 1,124 | |||||||
Note_18_Quarterly_Financial_In
Note 18 - Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information [Text Block] | NOTE 18—QUARTERLY FINANCIAL INFORMATION (Unaudited) | ||||||||||||||||
The following table summarizes selected information regarding the Company’s results of operations for the periods indicated (dollars in thousands, except per share date). Quarterly earnings per share data may vary from annual earnings per share due to rounding. | |||||||||||||||||
Three Months Ended | |||||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Interest Income | $ | 4,578 | $ | 4,625 | $ | 4,613 | $ | 7,025 | |||||||||
Interest Expense | 470 | 443 | 427 | 620 | |||||||||||||
Net Interest Income | 4,108 | 4,182 | 4,186 | 6,405 | |||||||||||||
Provision for Loan Losses | - | - | - | - | |||||||||||||
Net Interest Income after Provision for Loan Losses | 4,108 | 4,182 | 4,186 | 6,405 | |||||||||||||
Non Interest Income | 724 | 774 | 855 | 1,465 | |||||||||||||
Non Interest Expense | 3,457 | 4,047 | 4,034 | 5,260 | |||||||||||||
Income before Income Tax Expense | 1,375 | 909 | 1,007 | 2,610 | |||||||||||||
Income Tax Expense | 296 | 170 | 268 | 875 | |||||||||||||
Net Income | $ | 1,079 | $ | 739 | $ | 739 | $ | 1,735 | |||||||||
Earnings Per Share - Basic | $ | 0.46 | $ | 0.31 | $ | 0.32 | $ | 0.5 | |||||||||
Earnings Per Share - Diluted | 0.46 | 0.31 | 0.32 | 0.5 | |||||||||||||
Dividends Per Share | 0.21 | 0.21 | 0.21 | 0.21 | |||||||||||||
Three Months Ended | |||||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Interest Income | $ | 4,346 | $ | 4,355 | $ | 4,570 | $ | 4,634 | |||||||||
Interest Expense | 604 | 566 | 548 | 518 | |||||||||||||
Net Interest Income | 3,742 | 3,789 | 4,022 | 4,116 | |||||||||||||
Provision for Loan Losses | 100 | - | - | - | |||||||||||||
Net Interest Income after Provision for Loan Losses | 3,642 | 3,789 | 4,022 | 4,116 | |||||||||||||
Non Interest Income | 735 | 857 | 728 | 885 | |||||||||||||
Non Interest Expense | 3,329 | 3,326 | 3,287 | 3,416 | |||||||||||||
Income before Income Tax Expense | 1,048 | 1,320 | 1,463 | 1,585 | |||||||||||||
Income Tax Expense | 188 | 280 | 324 | 368 | |||||||||||||
Net Income | $ | 860 | $ | 1,040 | $ | 1,139 | $ | 1,217 | |||||||||
Earnings Per Share - Basic | $ | 0.35 | $ | 0.42 | $ | 0.46 | $ | 0.49 | |||||||||
Earnings Per Share - Diluted | 0.35 | 0.42 | 0.46 | 0.49 | |||||||||||||
Dividends Per Share | 0.21 | 0.21 | 0.21 | 0.21 | |||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation |
The accompanying consolidated financial statements include the accounts of CB Financial Services, Inc. and its wholly owned subsidiary, Community Bank, (the “Bank”), and the Bank’s wholly-owned subsidiary, Exchange Underwriters, Inc. (“Exchange Underwriters”). CB Financial Services, Inc. and Community Bank are collectively referred to as the “Company”. All intercompany transactions and balances have been eliminated in consolidation. | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with general practice within the banking industry. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Statement of Financial Condition and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to fair value of investment securities available for sale, determination of the allowance for losses on loans, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, other-than-temporary impairment evaluations of securities, the valuation of deferred tax assets, and the valuation of goodwill impairment. | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition |
Income on loans and investments is recognized as earned on the accrual method. Service charges and fees on deposit accounts are recognized at the time the customer account is charged. Gains and losses on sales of mortgages are based on the difference between the selling price and the carrying value of the related mortgage sold. | |
Segment Reporting, Policy [Policy Text Block] | Operating Segments |
An operating segment is defined as a component of an enterprise that engages in business activities which generate revenue and incur expense, and the operating results of which are reviewed by management. The Company’s business activities are currently confined to one operating segment which is community banking. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Due From Banks |
Included in Cash and Due From Banks are required federal reserves of $1.9 million and $388,000 at December 31, 2014 and 2013, respectively, for facilitating the implementation of monetary policy by the Federal Reserve System. The required reserves are computed by applying prescribed ratios to the classes of average deposit balances. These are held in the form of cash on hand and/or balances maintained directly with the Federal Reserve Bank. | |
Marketable Securities, Policy [Policy Text Block] | Investment Securities |
Investment securities are classified at the time of purchase, based on management’s intentions and ability, as securities held to maturity or securities available-for-sale. Debt securities acquired with the intent and the ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount which are computed using a level yield method and recognized as adjustments to interest income. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized securities gains and losses, if any, are computed using the specific identification method. Declines in the fair value of individual securities below amortized cost that are other than temporary will result in write-downs of the individual securities to their fair value. Any related write-downs will be included in earnings as realized losses. Interest and dividends on investment securities are recognized as income when earned. | |
Common stock of the Federal Home Loan Bank (“FHLB”) and Atlantic Community Bankers’ Bank (“ACBB”) represents ownership in organizations which are wholly owned by other financial institutions. These restricted equity securities are accounted for based on industry guidance in Accounting Standards Codification (“ASC”) Sub-Topic 325-20, which requires the investment to be carried at cost and evaluated for impairment based on the ultimate recoverability of the par value. Included in Accrued Interest and Other Assets are FHLB stock of $3.3 million and $1.7 million at December 31, 2014 and 2013, respectively, and ACBB stock of $85,000 at December 31, 2014 and $40,000 at December 31, 2013. | |
The Company periodically evaluates its FHLB investment for possible impairment based on, among other things, the capital adequacy of the FHLB and its overall financial condition. The Company believes its holdings in the stock are ultimately recoverable at par value at December 31, 2014 and, therefore, determined that FHLB stock was not impaired. In addition, the Company has ample liquidity and does not require redemption of its FHLB stock in the foreseeable future. | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Loans Receivable and Allowance for Loan Losses |
Loans receivable 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 deferred loan fees and the allowance for loan losses. The Company’s loan portfolio is segmented to enable management to monitor risk and performance. The real estate loans are further segregated into three classes. Residential mortgages include those secured by residential properties, while commercial mortgages consist of loans to commercial borrowers secured by commercial or residential real estate. Construction loans typically consist of loans to build commercial buildings and acquire and develop residential real estate. The commercial, and industrial segment consists of loans to finance the activities of commercial customers. The consumer segment consists primarily of indirect auto loans, home equity loans, installment loans and overdraft lines of credit. | |
Residential mortgage and construction loans are typically longer-term loans and, therefore, generally, present greater interest rate risk than the consumer and commercial loans. Under certain economic conditions, housing values may decline, which may increase the risk that the collateral values are not sufficient. Commercial real estate loans generally present a higher level of risk than loans secured by residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties and the increased difficulty in evaluating and monitoring these types of loans. Furthermore, the repayment of commercial real estate loans is typically dependent upon the successful operation of the related real estate project. If the cash flow from the project is reduced (for example, if leases are not obtained or renewed, a bankruptcy court modifies a lease term, or a major tenant is unable to fulfill its lease obligations), the borrower’s ability to repay the loan may be impaired. Commercial and industrial loans are generally secured by business assets, inventories, accounts receivable, etc, which present collateral risk. Consumer loans generally have higher interest rates and shorter terms than residential mortgage loans; however, they have additional credit risk due to the type of collateral securing the loan. | |
Accrual of interest on loans is generally discontinued when it is determined that a reasonable doubt exists as to the collectibility of principal, interest, or both. Payments received on nonaccrual loans are recorded as income or applied against principal according to management’s judgment as to the collectibility of such principal. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
The Company uses an eight point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first four categories are not considered criticized and are aggregated as “Pass” rated. The criticized rating categories used by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are below average quality, resulting in an undue credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans classified as Doubtful have all the weaknesses inherent in loans classified as substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as Loss are considered uncollectable and of such little value that continuance as an asset is not warranted. | |
In the normal course of business, the Company modifies loan terms for various reasons. These reasons may include as a retention strategy to compete in the current interest rate environment, and to re-amortize or extend a loan term to better match the loan’s payment stream with the borrower’s cash flows. A modified loan is considered to be a troubled debt restructuring (“TDR”) when the Company has determined that the borrower is experiencing financial difficulties. The Company evaluates the probability that the borrower will be in payment default on any of its debt in the foreseeable future without modification. To make this determination a credit review is performed to assess the ability of the borrower to meet their obligations. | |
When the Company restructures a loan to a troubled borrower, the loan terms (i.e. interest rate, payment, amortization period and/or maturity date) are modified in such a way to enable the borrower to cover the modified debt service payments based on current financials and cash flow adequacy. If the hardship is thought to be temporary, then modified terms are offered only for that time period. Where possible, the Company obtains additional collateral and/or secondary payment sources at the time of the restructure. To date, the Company has not forgiven any principal as a restructuring concession. The Company will not offer modified terms if it believes that modifying the loan terms will only delay an inevitable permanent default. | |
All loans designated as TDRs are considered impaired loans and may be in either accruing or non-accruing status. The Company’s policy for recognizing interest income on TDRs does not differ from its overall policy for interest recognition. TDRs are considered to be in payment default if, subsequent to modification, the loans are transferred to non-accrual status. A loan may be removed from nonaccrual TDR status if it has performed according to its modified terms for at least six consecutive months. | |
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. | |
Loan origination and commitment fees as well as certain direct loan origination costs are being deferred and the net amount amortized as an adjustment to the related loan’s yield. These amounts are being amortized over the contractual lives of the related loans. | |
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance based on potential losses in the current loan portfolio, which includes an assessment of economic conditions, changes in the nature and volume of the loan portfolio, loan loss experience, volume and severity of past due, classified and nonaccrual loans as well as other loan modifications, quality of the Company’s loan review system, the degree of oversight by the Company’s Board of Directors, existence and effect of any concentrations of credit and changes in the level of such concentrations, effect of external factors, such as competition and legal and regulatory requirements and other relevant factors. While management uses the best information available to make such evaluations, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making evaluations. Additions are made to the allowance through periodic provisions charged to income and recovery of principal and interest on loans previously charged-off. Losses of principal are charged directly to the allowance when a loss actually occurs or when a determination is made that the specific loss is probable. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revisions as more information becomes available. | |
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due for principal and interest according to the original contractual terms of the loan agreement. 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 based on the present value of expected future cash flows discounted at a loan’s effective interest rate, or as a practical expedient, the observable market price, or, if the loan is collateral dependent, the fair value of the underlying collateral. When the measurement of an impaired loan is less than the recorded investment in the loan, the impairment is recorded in a specific valuation allowance through a charge to the provision for loan losses. Any reserve for unfunded lending commitments represents management’s estimate of losses inherent in its’ unfunded loan commitments and is recorded in the allowance for loan losses on the Consolidated Statement of Financial Condition. | |
This specific valuation allowance is periodically adjusted for significant changes in the amount or timing of expected future cash flows, observable market price or fair value of the collateral. The specific valuation allowance, or allowance for impaired loans, is part of the total allowance for loan losses. Cash payments received on impaired loans are recorded as a direct reduction of the recorded investment in the loan. When the recorded investment has been fully collected, receipts are recorded as recoveries to the allowance for loan losses until the previously charged-off principal is fully recovered. Subsequent amounts collected are recognized as interest income. Impaired loans are not returned to accrual status until all amounts due, both principal and interest, are current and a sustained payment history has been demonstrated. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate and consumer loans. An unallocated component is maintained to cover uncertainties that could affect the Company’s estimate of probable losses. | |
Generally, management considers all nonaccrual loans and certain renegotiated debt, when it exists, for impairment. The maximum period without payment that typically can occur before a loan is considered for impairment is 90 days. The past due status of loans receivable is determined based on contractual due dates for loan payments. | |
The Company grants commercial, residential, and other consumer loans to customers throughout Greene, Washington, Allegheny, Fayette and Westmoreland Counties in Pennsylvania. Although the Company has a diversified loan portfolio at December 31, 2014 and 2013, a substantial portion of its debtors’ ability to honor their contracts is determined by the economic environment of these counties. | |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is principally computed on the straight-line method over the estimated useful lives of the related assets, which range from three to seven years for furniture, fixtures, and equipment and 27.5 to 40 years for building premises. Leasehold improvements are amortized over the shorter of their estimated useful lives or their respective lease terms, which range from seven to fifteen years. Expenditures for maintenance and repairs are charged to expense when incurred while costs of major additions and improvements are capitalized. | |
Bank Owned Life Insurance [Policy Text Block] | Bank-Owned Life Insurance |
The Company is the owner and beneficiary of bank owned life insurance (“BOLI”) policies on certain employees. The earnings from the BOLI policies are recognized as a component of noninterest income. The BOLI policies are an asset that can be liquidated, if necessary, with tax costs associated. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in cash surrender value. | |
Real Estate, Policy [Policy Text Block] | Real Estate Owned |
Real estate owned acquired in settlement of foreclosed loans is carried as a component of other assets at the lower of cost or fair value minus estimated cost to sell. Prior to foreclosure, the estimated collectible value of the collateral is evaluated to determine if a partial charge-off of the loan balance is necessary. After transfer to real estate owned, any subsequent write-downs are charged against noninterest expense. Direct costs incurred in the foreclosure process and subsequent holding costs incurred on such properties are recorded as expenses of current operations. Real estate owned was $278,000 and $310,000 at December 31, 2014 and 2013, respectively. Loans in process of foreclosure were $2.7 million and $710,000 at December 31, 2014 and 2013, respectively. | |
Income Tax, Policy [Policy Text Block] | Income Taxes |
The Company accounts for income taxes in accordance with income tax accounting guidance, Financial Accounting Standards Board (“FASB”) ASC 740 Topic, “Income Taxes”. The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. | |
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination, the term more likely than not means a likelihood of more than 50%; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion of all of a deferred tax asset will not be realized. | |
The Company recognizes interest and penalties on income taxes as a component of income tax expense. | |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Core Deposit Intangible |
Core Deposit Intangible was developed by specific core deposit life studies, and is amortized using the straight-line method over periods ranging from eight to ten years. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any are charges to expense. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill |
The Company accounts for goodwill in accordance with FASB ASC Sub-Topic 350-20, “Intangibles—Goodwill and Other”. This statement, among other things, requires a two-step process for testing the impairment of goodwill for each reporting unit on at least an annual basis. The Company performs an annual impairment analysis of goodwill. Based on the fair value of each reporting unit that has goodwill, estimated using the expected present value of future cash flows, no impairment of goodwill was recognized in 2014, 2013 and 2012. | |
Mortgage Service Rights [Policy Text Block] | Mortgage Service Rights ("MSRs")The Company has agreements for the express purpose of selling loans in the secondary market. The Company maintains all servicing rights for these loans. Originated MSRs are recorded by allocating total costs incurred between the loan and servicing rights based on their relative fair values. MSRs are amortized in proportion to other assets on the Consolidated Statement of Financial Condition. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of MSRs is netted against loan servicing fee income. The carrying and fair values of the MSRs and related amortization are not significant for financial reporting purposes. |
Stockholders' Equity, Policy [Policy Text Block] | Treasury Stock |
The purchase of the Company’s common stock is recorded at cost. At the date of subsequent reissue, the treasury stock account is reduced by the cost of such stock on the average cost basis, with any excess proceeds being credited to Capital Surplus. | |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) |
Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income (loss) is comprised of unrealized holding gains (losses) on the available-for-sale securities portfolio and unrealized income (loss) related to factors other than credit on debt securities. | |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share |
The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated utilizing the reported net income as the numerator and weighted average shares outstanding as the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any options, warrants, and convertible securities are adjusted for in the denominator. Treasury shares are not deemed outstanding for earnings per share calculations. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Options |
The Company maintained stock option plans for key officers, employees, and nonemployee directors. There were no stock options outstanding at December 31, 2014. All stock option plans have expired. | |
Stock compensation accounting guidance, FASB ASC Topic 718, “Compensation—Stock Compensation,” requires that the compensation cost relating to share based payment transactions be recognized in financial statements. The cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. | |
The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Sholes model is used to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of the grant is used for restricted stock awards. | |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flow Information |
The Company has defined cash equivalents as those amounts due from depository institutions, interest-bearing deposits with other banks with maturities of less than 90 days, and federal funds sold. Cash payments for interest on deposits, short-term borrowings, and other borrowed funds in 2014, 2013 and 2012 were $1.9 million, $2.3 million and $3.3 million, respectively. Cash payments for income taxes were $1.8 million, $525,000 and $1.2 million in 2014, 2013 and 2012, respectively. Transfers from loans to real estate owned and repossessed assets were $1.6 million, $1.0 million and $544,000 in 2014, 2013 and 2012, respectively. | |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising Costs |
Advertising costs are expensed as incurred. | |
Reclassification, Policy [Policy Text Block] | Reclassifications |
Certain comparative amounts for prior periods have been reclassified to conform to the current year presentation. Such reclassifications did not affect net income or stockholders’ equity. | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards |
In August 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure, an amendment of ASC Subtopic 310-40, Receivables – Troubled Debt Restructurings by Creditors. ASU 2014-14 specifies that a mortgage loan be derecognized and a separate other receivable be recognized upon foreclosure if the loan has a government guarantee that is not separable from the loan before foreclosure; and at the time of foreclosure, the creditor has the intent to convey the real estate to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the amount of the claim, which must be a fixed amount determined on the basis of the fair value of the real estate. An entity can elect to adopt the amendments in ASU 2014-14 using either a modified retrospective transition method or a prospective transition method. ASU 2014-14 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with early adoption permitted. The adoption of ASU 2014-14 did not have a material impact on the Company’s financial condition and results of operations. | |
In June 2014, the FASB issued ASU 2014-11, Repurchase-to Maturity Transactions, Repurchase Financings, and Disclosures, an amendment of ASC Topic 860, Transfers and Servicing. The amendments in ASU 2014-11 require repurchase-to-maturity transactions to be accounted for as secured borrowing transactions on the Statement of Financial Condition, rather than sales; and for repurchase financing arrangements, require separate accounting for a transfer of a financial asset executed contemporaneously with (or in contemplation of) a repurchase agreement with the same counterparty, which also will generally result in secured borrowing accounting for the repurchase agreement. The ASU also introduces new disclosures to increase transparency about the types of collateral pledged for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings, and requires a transferor to disclose information about transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the transferee. For public entities, the accounting changes and disclosure for certain transactions accounted for as a sale are effective for the first interim or annual period beginning after December 15, 2014. The disclosure for transactions accounted for as secured borrowings is required for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. Earlier application for a public entity is prohibited. The Company is evaluating the provisions of ASU 2014-11, but does not believe that its adoption will have a material impact on the Company’s financial condition and results of operations. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which establishes a comprehensive revenue recognition standard for virtually all industries under U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. ASU 2014-09 specifies that an entity shall recognize revenue when, or as, the entity satisfies a performance obligation by transferring a promised good or service (i.e. an asset) to a customer. An asset is transferred when, or as, the customer obtains control of the asset. Entities are required to disclose qualitative and quantitative information on the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption not permitted. The Company is evaluating the provisions of ASU 2014-09, but does not believe that its adoption will have a material impact on the Company’s financial condition and results of operations. | |
In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which provides guidance clarifying when an in substance repossession or foreclosure occurs that would require a loan receivable to be derecognized and the real estate property recognized. ASU 2014-04 specifies the circumstances when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan, and requires 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 that are in the process of foreclosure. An entity can elect to adopt the amendments in ASU 2014-04 using either a modified or a retrospective transition method or a prospective transition method. ASU 2014-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with early adoption permitted. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial condition and results of operations. | |
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU is intended to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. Under the ASU, an entity generally must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward. The Company adopted the provisions of ASU 2013-11 effective January 1, 2014. As the Company has no unrecognized tax benefits, the adoption of ASU 2013-11 did not have any impact on the Company’s financial condition and results of operations. | |
In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income, either on the face of the statement where net income is presented or in the notes to the financial statements. The Company adopted the provisions of ASU 2013-02 effective January 1, 2014. The adoption of ASU 2013-02 did not have a material impact on the Company’s financial condition and results of operations. |
Note_2_Merger_Tables
Note 2 - Merger (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Business Combinations [Abstract] | |||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Consideration Paid: | ||||||||
Cash Paid for Redemption of FedFirst Common Stock | $ | 18,406 | |||||||
CB Financial Common Stock Issued in Exchange for FedFirst Common Stock | 36,310 | ||||||||
Total Consideration Paid | 54,716 | ||||||||
Assets Acquired: | |||||||||
Cash and Cash Equivalents | 4,552 | ||||||||
Net Loans | 283,565 | ||||||||
Premises and Equipment | 5,814 | ||||||||
Bank Owned Life Insurance | 8,760 | ||||||||
Core Deposit Intangible | 4,977 | ||||||||
Other Assets | 3,475 | ||||||||
Total Assets Acquired | 311,143 | ||||||||
Liabilities Assumed: | |||||||||
Deposits | 206,389 | ||||||||
Borrowings | 51,173 | ||||||||
Other Liabilities | 2,339 | ||||||||
Total Liabilities Assumed | 259,901 | ||||||||
Total Identifiable Net Assets | 51,242 | ||||||||
Goodwill Recognized | $ | 3,474 | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, | ||||||||
2014 | 2013 | ||||||||
Net Interest Income | $ | 29,006 | $ | 26,235 | |||||
Noninterest Income | 7,732 | 7,491 | |||||||
Noninterest Expense | 32,251 | 23,856 | |||||||
Net Income | 3,144 | 6,644 | |||||||
Earnings Per Share: | |||||||||
Basic | $ | 0.77 | $ | 1.59 | |||||
Dilulted | 0.77 | 1.58 |
Note_3_Earnings_Per_Share_Tabl
Note 3 - Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-Average Common Shares Outstanding | 2,925,026 | 2,622,455 | 2,597,165 | ||||||||||
Average Treasury Stock Shares | (291,155 | ) | (158,884 | ) | (158,884 | ) | |||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Basic Earnings Per Share | 2,633,871 | 2,463,571 | 2,438,281 | ||||||||||
Additional Common Stock Equivalents (Stock Options) Used to Calculated Diluted Earnings Per Share | 1,219 | 14,515 | 38,320 | ||||||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Diluted Earnings Per Share | 2,635,090 | 2,478,086 | 2,476,601 | ||||||||||
Earnings per share: | |||||||||||||
Basic | $ | 1.63 | $ | 1.73 | $ | 1.73 | |||||||
Diluted | 1.63 | 1.72 | 1.7 |
Note_4_Investment_Securities_T
Note 4 - Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Note 4 - Investment Securities (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
U.S. Government Agencies | $ | 57,669 | $ | 139 | $ | (157 | ) | $ | 57,651 | ||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | 41,611 | 886 | (116 | ) | 42,381 | ||||||||||||||||||||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 4,240 | 33 | - | 4,273 | |||||||||||||||||||||||||||||||||
Equity Securities - Mutual Funds | 500 | 14 | - | 514 | |||||||||||||||||||||||||||||||||
Equity Securities - Other | 573 | 58 | (1 | ) | 630 | ||||||||||||||||||||||||||||||||
Total | $ | 104,593 | $ | 1,130 | $ | (274 | ) | $ | 105,449 | ||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
U.S. Government Agencies | $ | 77,559 | $ | 8 | $ | (1,273 | ) | $ | 76,294 | ||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | 50,481 | 659 | (637 | ) | 50,503 | ||||||||||||||||||||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | 5,916 | 41 | (32 | ) | 5,925 | ||||||||||||||||||||||||||||||||
Equity Securities - Mutual Funds | 500 | 35 | - | 535 | |||||||||||||||||||||||||||||||||
Equity Securities - Other | 510 | 47 | (4 | ) | 553 | ||||||||||||||||||||||||||||||||
Total | $ | 134,966 | $ | 790 | $ | (1,946 | ) | $ | 133,810 | ||||||||||||||||||||||||||||
Held-to-maturity Securities [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 504 | $ | - | $ | - | $ | 504 | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 1,006 | $ | 3 | $ | - | $ | 1,009 | |||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||||
Number | Fair | Gross | Number | Fair | Gross | Number | Fair | Gross | |||||||||||||||||||||||||||||
of | Value | Unrealized | of | Value | Unrealized | of | Value | Unrealized | |||||||||||||||||||||||||||||
Securities | Losses | Securities | Losses | Securities | Losses | ||||||||||||||||||||||||||||||||
U.S. Government Agencies | 10 | $ | 26,101 | $ | (144 | ) | 1 | $ | 2,987 | $ | (13 | ) | 11 | $ | 29,088 | $ | (157 | ) | |||||||||||||||||||
Obligations of States and Political Subdivisions | 5 | 2,123 | (9 | ) | 22 | 13,590 | (107 | ) | 27 | 15,713 | (116 | ) | |||||||||||||||||||||||||
Equity Securities - Other | 1 | 48 | (1 | ) | - | - | - | 1 | 48 | (1 | ) | ||||||||||||||||||||||||||
Total | 16 | $ | 28,272 | $ | (154 | ) | 23 | $ | 16,577 | $ | (120 | ) | 39 | $ | 44,849 | $ | (274 | ) | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||||||
Number | Fair | Gross | Number | Fair | Gross | Number | Fair | Gross | |||||||||||||||||||||||||||||
of | Value | Unrealized | of | Value | Unrealized | of | Value | Unrealized | |||||||||||||||||||||||||||||
Securities | Losses | Securities | Losses | Securities | Losses | ||||||||||||||||||||||||||||||||
U.S. Government Agencies | 21 | $ | 52,407 | $ | (1,043 | ) | 4 | $ | 7,834 | $ | (230 | ) | 25 | $ | 60,241 | $ | (1,273 | ) | |||||||||||||||||||
Obligations of States and Political Subdivisions | 28 | 16,489 | (409 | ) | 16 | 8,052 | (228 | ) | 44 | 24,541 | (637 | ) | |||||||||||||||||||||||||
Mortgage-Backed Securities - Government Sponsored Enterprises | 2 | 5,028 | (32 | ) | - | - | - | 2 | 5,028 | (32 | ) | ||||||||||||||||||||||||||
Equity Securities - Other | 2 | 85 | (4 | ) | - | - | - | 2 | 85 | (4 | ) | ||||||||||||||||||||||||||
Total | 53 | $ | 74,009 | $ | (1,488 | ) | 20 | $ | 15,886 | $ | (458 | ) | 73 | $ | 89,895 | $ | (1,946 | ) | |||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||
Available-for-Sale | Held to Maturity | ||||||||||||||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||||||||||||||
Due in One Year or Less | $ | 3,811 | $ | 3,865 | $ | 504 | $ | 504 | |||||||||||||||||||||||||||||
Due after One Year through Five Years | 30,353 | 30,335 | - | - | |||||||||||||||||||||||||||||||||
Due after Five Years through Ten Years | 50,593 | 50,913 | - | - | |||||||||||||||||||||||||||||||||
Due after Ten Years | 19,836 | 20,336 | - | - | |||||||||||||||||||||||||||||||||
Total | $ | 104,593 | $ | 105,449 | $ | 504 | $ | 504 | |||||||||||||||||||||||||||||
Obligations of States, Municipalities, and Politcal Subdivisions [Member] | |||||||||||||||||||||||||||||||||||||
Note 4 - Investment Securities (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||
Pennsylvania Municipalities | $ | 39,389 | $ | 40,096 | |||||||||||||||||||||||||||||||||
Pennsylvania Political Subdivisions | 2,229 | 2,286 | |||||||||||||||||||||||||||||||||||
All Other State Political Subdivisions | 497 | 503 | |||||||||||||||||||||||||||||||||||
$ | 42,115 | $ | 42,885 | ||||||||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||
General Obligation | $ | 39,389 | $ | 40,096 | |||||||||||||||||||||||||||||||||
Special Revenue | |||||||||||||||||||||||||||||||||||||
Public Improvement | 250 | 251 | |||||||||||||||||||||||||||||||||||
Water and Sewer | 247 | 252 | |||||||||||||||||||||||||||||||||||
Other | 2,229 | 2,286 | |||||||||||||||||||||||||||||||||||
$ | 42,115 | $ | 42,885 |
Note_5_Loans_and_Related_Allow1
Note 5 - Loans and Related Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 331,873 | $ | 164,245 | |||||||||||||||||||||||||
Commercial | 174,265 | 95,333 | |||||||||||||||||||||||||||
Construction | 22,197 | 10,367 | |||||||||||||||||||||||||||
Commercial and Industrial | 72,064 | 41,719 | |||||||||||||||||||||||||||
Consumer | 77,611 | 59,101 | |||||||||||||||||||||||||||
Other | 7,636 | 8,381 | |||||||||||||||||||||||||||
Total Loans | 685,646 | 379,146 | |||||||||||||||||||||||||||
Less Allowance for Loan Losses | (5,195 | ) | (5,382 | ) | |||||||||||||||||||||||||
Net Loans | $ | 680,451 | $ | 373,764 | |||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 329,417 | $ | 194 | $ | 2,243 | $ | 19 | $ | 331,873 | |||||||||||||||||||
Commercial | 154,225 | 13,373 | 5,975 | 692 | 174,265 | ||||||||||||||||||||||||
Construction | 20,963 | 101 | 789 | 344 | 22,197 | ||||||||||||||||||||||||
Commercial and Industrial | 67,171 | 4,208 | 383 | 302 | 72,064 | ||||||||||||||||||||||||
Consumer | 77,607 | - | 4 | - | 77,611 | ||||||||||||||||||||||||
Other | 7,636 | - | - | - | 7,636 | ||||||||||||||||||||||||
Total | $ | 657,019 | $ | 17,876 | $ | 9,394 | $ | 1,357 | $ | 685,646 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 163,234 | $ | 397 | $ | 604 | $ | 10 | $ | 164,245 | |||||||||||||||||||
Commercial | 78,324 | 11,859 | 335 | 4,815 | 95,333 | ||||||||||||||||||||||||
Construction | 6,712 | 2,178 | - | 1,477 | 10,367 | ||||||||||||||||||||||||
Commercial and Industrial | 37,924 | 3,480 | - | 315 | 41,719 | ||||||||||||||||||||||||
Consumer | 59,084 | - | 17 | - | 59,101 | ||||||||||||||||||||||||
Other | 8,381 | - | - | - | 8,381 | ||||||||||||||||||||||||
Total | $ | 353,659 | $ | 17,914 | $ | 956 | $ | 6,617 | $ | 379,146 | |||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Loans | 30-59 | 60-89 | 90 Days | Total | Non- | Total | |||||||||||||||||||||||
Current | Days | Days | Or More | Past Due | Accrual | Loans | |||||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 328,314 | $ | 1,613 | $ | 34 | $ | 369 | $ | 2,016 | $ | 1,543 | $ | 331,873 | |||||||||||||||
Commercial | 170,675 | 2,525 | - | - | 2,525 | 1,065 | 174,265 | ||||||||||||||||||||||
Construction | 21,853 | - | - | - | - | 344 | 22,197 | ||||||||||||||||||||||
Commercial and Industrial | 72,053 | 7 | - | - | 7 | 4 | 72,064 | ||||||||||||||||||||||
Consumer | 77,180 | 397 | 24 | 10 | 431 | - | 77,611 | ||||||||||||||||||||||
Other | 7,636 | - | - | - | - | - | 7,636 | ||||||||||||||||||||||
Total | $ | 677,711 | $ | 4,542 | $ | 58 | $ | 379 | $ | 4,979 | $ | 2,956 | $ | 685,646 | |||||||||||||||
2013 | |||||||||||||||||||||||||||||
Loans | 30-59 | 60-89 | 90 Days | Total | Non- | Total | |||||||||||||||||||||||
Current | Days | Days | Or More | Past Due | Accrual | Loans | |||||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 163,626 | $ | 173 | $ | 107 | $ | - | $ | 280 | $ | 339 | $ | 164,245 | |||||||||||||||
Commercial | 91,686 | 592 | 390 | - | 982 | 2,665 | 95,333 | ||||||||||||||||||||||
Construction | 10,002 | - | - | - | - | 365 | 10,367 | ||||||||||||||||||||||
Commercial and Industrial | 41,711 | 8 | - | - | 8 | - | 41,719 | ||||||||||||||||||||||
Consumer | 58,789 | 288 | 7 | - | 295 | 17 | 59,101 | ||||||||||||||||||||||
Other | 8,381 | - | - | - | - | - | 8,381 | ||||||||||||||||||||||
Total | $ | 374,195 | $ | 1,061 | $ | 504 | $ | - | $ | 1,565 | $ | 3,386 | $ | 379,146 | |||||||||||||||
Impaired Financing Receivables [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 992 | $ | - | $ | 1,017 | $ | 1,012 | $ | 51 | |||||||||||||||||||
Commercial | 6,580 | 519 | 6,640 | 7,653 | 293 | ||||||||||||||||||||||||
Construction | 1,133 | 100 | 1,133 | 1,366 | 41 | ||||||||||||||||||||||||
Commercial and Industrial | 686 | 254 | 686 | 745 | 34 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 9,391 | $ | 873 | $ | 9,476 | $ | 10,776 | $ | 419 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 65 | $ | - | $ | 86 | $ | 94 | $ | 5 | |||||||||||||||||||
Commercial | 5,407 | 640 | 5,693 | 5,960 | 245 | ||||||||||||||||||||||||
Construction | 1,477 | 265 | 1,477 | 1,692 | 54 | ||||||||||||||||||||||||
Commercial and Industrial | 315 | 253 | 315 | 316 | 13 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 7,264 | $ | 1,158 | $ | 7,571 | $ | 8,062 | $ | 317 | |||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Recorded | Related | Unpaid | Average | Interest | |||||||||||||||||||||||||
Investment | Allowance | Principal | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||
Residential | $ | 1,632 | $ | 6 | $ | 1,680 | $ | 1,708 | $ | 54 | |||||||||||||||||||
Commercial | 3,343 | 871 | 3,610 | 3,904 | 185 | ||||||||||||||||||||||||
Construction | 365 | 166 | 365 | 365 | - | ||||||||||||||||||||||||
Commercial and Industrial | 430 | 85 | 1,981 | 456 | 12 | ||||||||||||||||||||||||
Consumer | 36 | - | 54 | 63 | 4 | ||||||||||||||||||||||||
Total Impaired Loans | $ | 5,806 | $ | 1,128 | $ | 7,690 | $ | 6,496 | $ | 255 | |||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Temporary Rate | Extension of Maturity | Modification of Payment | |||||||||||||||||||||||||||
Modification | and Other Terms | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Residential | - | $ | - | - | $ | - | 3 | $ | 1,343 | ||||||||||||||||||||
Commercial | 2 | 317 | 5 | 1,507 | 3 | 629 | |||||||||||||||||||||||
Total | 2 | $ | 317 | 5 | $ | 1,507 | 6 | $ | 1,972 | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Temporary Rate | Extension of Maturity | Modification of Payment | |||||||||||||||||||||||||||
Modification | and Other Terms | ||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 259 | 1 | $ | 259 | - | $ | - | ||||||||||||||||||||
Total | 1 | $ | 259 | 1 | $ | 259 | - | $ | - | ||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 1,481 | $ | 1,703 | $ | 355 | $ | 1,013 | $ | 592 | $ | 238 | $ | 5,382 | |||||||||||||||
Charge-offs | (39 | ) | - | (38 | ) | - | (195 | ) | - | (272 | ) | ||||||||||||||||||
Recoveries | 2 | - | - | 5 | 78 | - | 85 | ||||||||||||||||||||||
Provision | 1,246 | (1,121 | ) | (195 | ) | (334 | ) | 540 | (136 | ) | - | ||||||||||||||||||
Ending Balance | $ | 2,690 | $ | 582 | $ | 122 | $ | 684 | $ | 1,015 | $ | 102 | $ | 5,195 | |||||||||||||||
Individually Evaluated for Impairment | $ | - | $ | 519 | $ | 100 | $ | 254 | $ | - | $ | - | $ | 873 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 2,690 | $ | 63 | $ | 22 | $ | 430 | $ | 1,015 | $ | 102 | $ | 4,322 | |||||||||||||||
2013 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 2,215 | $ | 2,051 | $ | 326 | $ | 1,043 | $ | 320 | $ | (51 | ) | $ | 5,904 | ||||||||||||||
Charge-offs | (181 | ) | (555 | ) | - | (109 | ) | (96 | ) | - | (941 | ) | |||||||||||||||||
Recoveries | 86 | 69 | - | 68 | 96 | - | 319 | ||||||||||||||||||||||
Provision | (639 | ) | 138 | 29 | 11 | 272 | 289 | 100 | |||||||||||||||||||||
Ending Balance | $ | 1,481 | $ | 1,703 | $ | 355 | $ | 1,013 | $ | 592 | $ | 238 | $ | 5,382 | |||||||||||||||
Individually Evaluated for Impairment | $ | - | $ | 640 | $ | 265 | $ | 253 | $ | - | $ | - | $ | 1,158 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 1,481 | $ | 1,063 | $ | 90 | $ | 760 | $ | 592 | $ | 238 | $ | 4,224 | |||||||||||||||
2012 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Beginning Balance | $ | 902 | $ | 3,271 | $ | 436 | $ | 983 | $ | 287 | $ | - | $ | 5,879 | |||||||||||||||
Charge-offs | (71 | ) | (103 | ) | - | (255 | ) | (167 | ) | - | (596 | ) | |||||||||||||||||
Recoveries | 49 | - | - | 49 | 73 | - | 171 | ||||||||||||||||||||||
Provision | 1,335 | (1,117 | ) | (110 | ) | 266 | 127 | (51 | ) | 450 | |||||||||||||||||||
Ending Balance | $ | 2,215 | $ | 2,051 | $ | 326 | $ | 1,043 | $ | 320 | $ | (51 | ) | $ | 5,904 | ||||||||||||||
Individually Evaluated for Impairment | $ | 6 | $ | 871 | $ | 166 | $ | 85 | $ | - | $ | - | $ | 1,128 | |||||||||||||||
Collectively Evaluated for Potential Impairment | $ | 2,209 | $ | 1,180 | $ | 160 | $ | 958 | $ | 320 | $ | (51 | ) | $ | 4,776 | ||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Other | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 992 | $ | 6,580 | $ | 1,133 | $ | 686 | $ | - | $ | - | $ | 9,391 | |||||||||||||||
Collectively Evaluated for Potential Impairment | 330,881 | 167,685 | 21,064 | 71,378 | 77,611 | 7,636 | 676,255 | ||||||||||||||||||||||
$ | 331,873 | $ | 174,265 | $ | 22,197 | $ | 72,064 | $ | 77,611 | $ | 7,636 | $ | 685,646 | ||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Real | Real | Real | Commercial | Consumer | Other | Total | |||||||||||||||||||||||
Estate | Estate | Estate | and | ||||||||||||||||||||||||||
Residential | Commercial | Construction | Industrial | ||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 65 | $ | 5,407 | $ | 1,477 | $ | 315 | $ | - | $ | - | $ | 7,264 | |||||||||||||||
Collectively Evaluated for Potential Impairment | 164,180 | 89,926 | 8,890 | 41,404 | 59,101 | 8,381 | 371,882 | ||||||||||||||||||||||
$ | 164,245 | $ | 95,333 | $ | 10,367 | $ | 41,719 | $ | 59,101 | $ | 8,381 | $ | 379,146 | ||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Balance, January 1 | $ | 3,394 | $ | 3,511 | |||||||||||||||||||||||||
Additions | 4,077 | 142 | |||||||||||||||||||||||||||
Payments | (130 | ) | (259 | ) | |||||||||||||||||||||||||
Balance, December 31 | $ | 7,341 | $ | 3,394 |
Note_6_Premises_and_Equipment_
Note 6 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | (Dollars in thousands) | ||||||||
2014 | 2013 | ||||||||
Land | $ | 1,678 | $ | 1,112 | |||||
Building | 10,996 | 4,177 | |||||||
Leasehold Improvements | 1,701 | 1,625 | |||||||
Furniture, Fixtures, and Equipment | 9,684 | 7,808 | |||||||
Property Held Under Capital Lease | 299 | 299 | |||||||
24,358 | 15,021 | ||||||||
Less Accumulated Depreciation and Amortization | (13,765 | ) | (10,409 | ) | |||||
Total Premises and Equipment | $ | 10,593 | $ | 4,612 |
Note_7_Core_Deposit_Intangible1
Note 7 - Core Deposit Intangible (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | (Dollars in thousands) | ||||||||||||
Gross | Accumulated | Net Carrying | |||||||||||
Carrying | Amortization | Amount | |||||||||||
Amount | |||||||||||||
Balance at December 31, 2012 | $ | 2,193 | $ | (2,140 | ) | $ | 53 | ||||||
Amortization Expense | - | (53 | ) | (53 | ) | ||||||||
Balance at December 31, 2013 | 2,193 | (2,193 | ) | - | |||||||||
Merger with FedFirst Financial Corporation | 4,977 | - | 4,977 | ||||||||||
Amortization Expense | - | (89 | ) | (89 | ) | ||||||||
Balance at December 31, 2014 | $ | 4,977 | $ | (89 | ) | $ | 4,888 |
Note_8_Deposits_Tables
Note 8 - Deposits (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Note 8 - Deposits (Tables) [Line Items] | |||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | (Dollars in thousands) | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Weighted | Amount | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Due in One Year | $ | 15,136 | 3.78 | % | $ | 1,000 | 2.26 | % | |||||||||
Due After One Year to Two Years | - | - | 3,000 | 3.6 | |||||||||||||
Total | $ | 15,136 | 3.78 | $ | 4,000 | 3.27 | |||||||||||
Time Deposits [Member] | |||||||||||||||||
Note 8 - Deposits (Tables) [Line Items] | |||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | 2014 | ||||||||||||||||
2015 | $ | 54,185 | |||||||||||||||
2016 | 43,679 | ||||||||||||||||
2017 | 14,737 | ||||||||||||||||
2018 | 15,460 | ||||||||||||||||
2019 | 9,791 | ||||||||||||||||
Beyond 2019 | 13,742 | ||||||||||||||||
Total | $ | 151,594 |
Note_9_Federal_Funds_Purchased1
Note 9 - Federal Funds Purchased and Short-term Borrowings (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||
Schedule of Debt [Table Text Block] | (Dollars in thousands) | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Weighted | Amount | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Federal Funds Purchased | |||||||||||||||||
Average Balance Outstanding During the Year | $ | 375 | 0.46 | % | $ | 672 | 0.47 | % | |||||||||
Maximum Amount Outstanding at any Month End | 1,850 | 4,100 | |||||||||||||||
Short-term Borrowings | |||||||||||||||||
Balance at Year-End | 25,800 | 0.32 | - | - | |||||||||||||
Average Balance Outstanding During the Year | 4,283 | 0.31 | - | - | |||||||||||||
Maximum Amount Outstanding at any Month End | 25,800 | - | |||||||||||||||
Securities Sold Under Agreements to Repurchase | |||||||||||||||||
Balance at Year-End | 20,884 | 0.17 | 15,384 | 0.28 | |||||||||||||
Average Balance Outstanding During the Year | 17,525 | 0.26 | 21,035 | 0.27 | |||||||||||||
Maximum Amount Outstanding at any Month End | 25,893 | 25,683 | |||||||||||||||
Securities Collaterizing the Agreements at Year-End: | |||||||||||||||||
Carrying Value | 23,244 | 25,399 | |||||||||||||||
Market Value | 23,243 | 24,921 |
Note_10_Other_Borrowed_Funds_T
Note 10 - Other Borrowed Funds (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | (Dollars in thousands) | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Weighted | Amount | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Due in One Year | $ | 15,136 | 3.78 | % | $ | 1,000 | 2.26 | % | |||||||||
Due After One Year to Two Years | - | - | 3,000 | 3.6 | |||||||||||||
Total | $ | 15,136 | 3.78 | $ | 4,000 | 3.27 |
Note_11_Income_Taxes_Tables
Note 11 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Current Payable | $ | 391 | $ | 968 | $ | 1,021 | |||||||||||||||||||
Deferred | 1,218 | 192 | 14 | ||||||||||||||||||||||
Total Provision | $ | 1,609 | $ | 1,160 | $ | 1,035 | |||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||
Allowance for Loan Losses | $ | 1,624 | $ | 1,548 | |||||||||||||||||||||
Amortization of Core Deposit Intangible | 55 | 95 | |||||||||||||||||||||||
Amortization of Intangibles | 123 | - | |||||||||||||||||||||||
Tax Credit Carryforwards | 290 | - | |||||||||||||||||||||||
Postretirement Benefits | 62 | - | |||||||||||||||||||||||
Net Unrealized Loss on Securities | - | 393 | |||||||||||||||||||||||
Discount Accretion | - | 13 | |||||||||||||||||||||||
Passthrough Entities | 4 | 3 | |||||||||||||||||||||||
Other | 182 | 129 | |||||||||||||||||||||||
Gross Deferred Tax Assets | 2,340 | 2,181 | |||||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||
Deferred Origination Fees and Costs | 411 | 164 | |||||||||||||||||||||||
Depreciation | 522 | 604 | |||||||||||||||||||||||
Net Unrealized Gain on Securities | 291 | - | |||||||||||||||||||||||
Mortgage Servicing Rights | 172 | 157 | |||||||||||||||||||||||
Purchase Accounting Adjustments | 1,552 | - | |||||||||||||||||||||||
Goodwill | 508 | 473 | |||||||||||||||||||||||
Other | 3 | - | |||||||||||||||||||||||
Gross Deferred Tax Liabilities | 3,459 | 1,398 | |||||||||||||||||||||||
Net Deferred Tax (Liabilities) Assets | $ | (1,119 | ) | $ | 783 | ||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Dollars in thousands) | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Amount | Percent of | Amount | Percent of | Amount | Percent of | ||||||||||||||||||||
Pre-tax | Pre-tax | Pre-tax | |||||||||||||||||||||||
Income | Income | Income | |||||||||||||||||||||||
Provision at Statutory Rate | $ | 2,006 | 34 | % | $ | 1,841 | 34 | % | $ | 1,786 | 34 | % | |||||||||||||
State Taxes (Net of Federal Benefit) | 4 | 0.1 | - | - | - | - | |||||||||||||||||||
Effect of Tax-Free Income | (475 | ) | (8.0 | ) | (527 | ) | (9.7 | ) | (658 | ) | (12.5 | ) | |||||||||||||
BOLI Income | (90 | ) | (1.5 | ) | (80 | ) | (1.5 | ) | (88 | ) | (1.7 | ) | |||||||||||||
Merger Expenses | 460 | 7.8 | - | - | - | - | |||||||||||||||||||
Other | (296 | ) | (5.1 | ) | (74 | ) | (1.4 | ) | (5 | ) | (0.1 | ) | |||||||||||||
Actual Tax Expense and Effective Rate | $ | 1,609 | 27.3 | % | $ | 1,160 | 21.4 | % | $ | 1,035 | 19.7 | % |
Note_12_Employee_Benefits_Tabl
Note 12 - Employee Benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2014 | Weighted | 2013 | Weighted | 2012 | Weighted | |||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||||||
Price | Price | Price | |||||||||||||||||||||||
Outstanding, January 1 | 14,515 | $ | 14.25 | 38,320 | $ | 14.48 | 65,235 | $ | 14.36 | ||||||||||||||||
Exercised | (14,515 | ) | 14.25 | (23,405 | ) | 14.62 | (26,915 | ) | 14.19 | ||||||||||||||||
Forfeited | - | - | (400 | ) | 14.5 | - | - | ||||||||||||||||||
Outstanding, December 31 | - | - | 14,515 | 14.25 | 38,320 | 14.48 | |||||||||||||||||||
Exercisable, December 31 | - | - | 14,515 | 14.25 | 38,320 | 14.48 |
Note_13_Commitments_and_Contin1
Note 13 - Commitments and Contingent Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | (Dollars in thousands) | ||||||||
2014 | 2013 | ||||||||
Standby Letters of Credit | $ | 18,260 | $ | 693 | |||||
Performance Letters of Credit | 2,986 | 1,534 | |||||||
Construction Mortgages | 12,241 | 9,939 | |||||||
Personal Lines of Credit | 5,675 | 5,502 | |||||||
Overdraft Protection Lines | 6,505 | 6,552 | |||||||
Home Equity Lines of Credit | 13,253 | 8,155 | |||||||
Commercial Lines of Credit | 54,301 | 42,393 | |||||||
$ | 113,221 | $ | 74,768 |
Note_14_Regulatory_Capital_Tab
Note 14 - Regulatory Capital (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in thousands) | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||
Total Capital (to Risk-Weighted Assets) | |||||||||||||||||
Actual | $ | 74,484 | 12.5 | % | $ | 46,578 | 12.98 | % | |||||||||
For Capital Adequacy Purposes | 47,680 | 8 | 28,709 | 8 | |||||||||||||
To Be Well Capitalized | 59,600 | 10 | 35,885 | 10 | |||||||||||||
Tier I Capital (to Risk-Weighted Assets) | |||||||||||||||||
Actual | 69,340 | 11.63 | 42,081 | 11.73 | |||||||||||||
For Capital Adequacy Purposes | 23,840 | 4 | 14,354 | 4 | |||||||||||||
To Be Well Capitalized | 35,760 | 6 | 21,531 | 6 | |||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||
Actual | 69,340 | 9.33 | 42,081 | 7.7 | |||||||||||||
For Capital Adequacy Purposes | 29,719 | 4 | 21,863 | 4 | |||||||||||||
To Be Well Capitalized | 37,149 | 5 | 27,329 | 5 |
Note_15_Operating_Leases_Table
Note 15 - Operating Leases (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Leases [Abstract] | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2014 | ||||
2015 | $ | 448 | |||
2016 | 449 | ||||
2017 | 369 | ||||
2018 | 290 | ||||
2019 | 140 | ||||
2020 & thereafter | 662 | ||||
$ | 2,358 |
Note_16_Fair_Value_Disclosure_
Note 16 - Fair Value Disclosure (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Dollars in thousands) | |||||||||||||||||
Valuation | December 31, | |||||||||||||||||
Technique | 2014 | 2013 | ||||||||||||||||
Available for Sales Securities: | ||||||||||||||||||
U.S. Government Agencies | Level II | $ | 57,651 | $ | 76,294 | |||||||||||||
Equity Securities - Mutual Funds | Level I | 514 | 535 | |||||||||||||||
Equity Securities - Other | Level I | 630 | 553 | |||||||||||||||
Obligations of States and Political Subdivisions | Level II | 42,381 | 50,502 | |||||||||||||||
Mortgage-Backed Securities - Government-Sponsored Enterprises | Level II | 4,273 | 5,926 | |||||||||||||||
Total Available for Sale Securities | $ | 105,449 | $ | 133,810 | ||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (Dollars in thousands) | Significant | ||||||||||||||||
Valuation | Fair Value at December 31, | Valuation | Significant | Unobservable | ||||||||||||||
Financial Asset | Technique | 2014 | 2013 | Techniques | Unobservable Inputs | Input Value | ||||||||||||
Impaired Loans | Level III | $ 1,959 | $ 3,833 | Market Comparable Properties | Marketability Discount | 10% | to | 30% | (1) | |||||||||
OREO | Level III | 77 | 229 | Market Comparable Properties | Marketability Discount | 10% | to | 50% | (1) | |||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | (Dollars in thousands) | |||||||||||||||||
2014 | 2013 | |||||||||||||||||
Valuation | Carrying | Fair | Carrying | Fair | ||||||||||||||
Method | Value | Value | Value | Value | ||||||||||||||
Used | ||||||||||||||||||
Financial Assets: | ||||||||||||||||||
Cash and Due From Banks: | ||||||||||||||||||
Interest Bearing | Level I | $ | 5,933 | $ | 5,933 | $ | 9,333 | $ | 9,333 | |||||||||
Non-Interest Bearing | Level I | 5,818 | 5,818 | 7,084 | 7,084 | |||||||||||||
Investment Securities: | ||||||||||||||||||
Available for Sale | See Above | 105,449 | 105,449 | 133,810 | 133,810 | |||||||||||||
Held to Maturity | Level II | 504 | 504 | 1,006 | 1,009 | |||||||||||||
Loans, Net | Level III | 680,451 | 695,844 | 373,764 | 384,664 | |||||||||||||
Restricted Stock | Level II | 3,390 | 3,390 | 1,770 | 1,770 | |||||||||||||
Bank-Owned Life Insurance | Level II | 17,735 | 17,735 | 8,702 | 8,702 | |||||||||||||
Accrued Interest Receivable | Level I | 2,543 | 2,543 | 1,866 | 1,866 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Deposits | Level III | 697,494 | 698,418 | 480,335 | 482,704 | |||||||||||||
Short-term Borrowings | Level I | 46,684 | 46,684 | 15,384 | 15,384 | |||||||||||||
Other Borrowed Funds | Level III | 15,136 | 15,305 | 4,000 | 4,148 | |||||||||||||
Accrued Interest Payable | Level I | 348 | 348 | 267 | 267 | |||||||||||||
Off-Balance Sheet Instruments: | ||||||||||||||||||
Commitments to Extend Credit | Level III | - | - | - | - |
Note_17_Condensed_Financial_St1
Note 17 - Condensed Financial Statements of Parent Company (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheet [Table Text Block] | (Dollars in thousands) | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
ASSETS | |||||||||||||
Cash and Due From Banks | $ | 125 | $ | 973 | |||||||||
Investment Securities, Available-for-Sale | 630 | 553 | |||||||||||
Investment in Community Bank | 80,388 | 43,494 | |||||||||||
Other Assets | 781 | - | |||||||||||
TOTAL ASSETS | $ | 81,924 | $ | 45,020 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
Other Liabilities | $ | 12 | $ | 15 | |||||||||
Stockholders Equity | 81,912 | 45,005 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 81,924 | $ | 45,020 | |||||||||
Condensed Income Statement [Table Text Block] | (Dollars in thousands) | ||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest and Dividend Income | $ | 28 | $ | 19 | $ | - | |||||||
Dividend from bank subsidiary | 4,607 | 2,071 | 2,053 | ||||||||||
Noninterest Income | 35 | - | - | ||||||||||
Noninterest Expense | 1,972 | 3 | - | ||||||||||
Income Before Undistributed Net Income of Subsidiary and Income Taxes | 2,698 | 2,087 | 2,053 | ||||||||||
Undistributed Net Income of Subsidiary | 1,399 | 2,169 | 2,164 | ||||||||||
Income Before Income Taxes | 4,097 | 4,256 | 4,217 | ||||||||||
Income Taxes | (195 | ) | - | - | |||||||||
NET INCOME | $ | 4,292 | $ | 4,256 | $ | 4,217 | |||||||
Condensed Cash Flow Statement [Table Text Block] | (Dollars in thousands) | ||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
OPERATING ACTIVITIES | |||||||||||||
Net Income | $ | 4,292 | $ | 4,256 | $ | 4,217 | |||||||
Αdjustmеnts to Rеconcilе Net Income to Net Cash (Used In) Provided By Operating Activities: | |||||||||||||
Undistributed Net Income of Subsidiary | (1,399 | ) | (2,169 | ) | (2,164 | ) | |||||||
Gain on Sales of Investment Securities | (35 | ) | - | - | |||||||||
Other, net | (34,965 | ) | 4 | - | |||||||||
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (32,107 | ) | 2,091 | 2,053 | |||||||||
INVESTING ACTIVITIES | |||||||||||||
Purchases of Securities | (110 | ) | (513 | ) | - | ||||||||
Proceeds from Sales of Securities | 82 | - | - | ||||||||||
NET CASH USED IN INVESTING ACTIVITIES | (28 | ) | (513 | ) | - | ||||||||
FINANCING ACTIVITIES | |||||||||||||
Cash Dividends Paid | (2,333 | ) | (2,072 | ) | (2,053 | ) | |||||||
Treasury Stock, Purchases at Cost | (2,896 | ) | - | - | |||||||||
Issuance of Common Stock | 36,310 | - | - | ||||||||||
Exercise of Stock Options | 206 | 343 | 381 | ||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 31,287 | (1,729 | ) | (1,672 | ) | ||||||||
(DECREASE) INCREASE IN CASH AND EQUIVALENTS | (848 | ) | (151 | ) | 381 | ||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 973 | 1,124 | 743 | ||||||||||
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ | 125 | $ | 973 | $ | 1,124 |
Note_18_Quarterly_Financial_In1
Note 18 - Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | Three Months Ended | ||||||||||||||||
2014 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Interest Income | $ | 4,578 | $ | 4,625 | $ | 4,613 | $ | 7,025 | |||||||||
Interest Expense | 470 | 443 | 427 | 620 | |||||||||||||
Net Interest Income | 4,108 | 4,182 | 4,186 | 6,405 | |||||||||||||
Provision for Loan Losses | - | - | - | - | |||||||||||||
Net Interest Income after Provision for Loan Losses | 4,108 | 4,182 | 4,186 | 6,405 | |||||||||||||
Non Interest Income | 724 | 774 | 855 | 1,465 | |||||||||||||
Non Interest Expense | 3,457 | 4,047 | 4,034 | 5,260 | |||||||||||||
Income before Income Tax Expense | 1,375 | 909 | 1,007 | 2,610 | |||||||||||||
Income Tax Expense | 296 | 170 | 268 | 875 | |||||||||||||
Net Income | $ | 1,079 | $ | 739 | $ | 739 | $ | 1,735 | |||||||||
Earnings Per Share - Basic | $ | 0.46 | $ | 0.31 | $ | 0.32 | $ | 0.5 | |||||||||
Earnings Per Share - Diluted | 0.46 | 0.31 | 0.32 | 0.5 | |||||||||||||
Dividends Per Share | 0.21 | 0.21 | 0.21 | 0.21 | |||||||||||||
Three Months Ended | |||||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||
Interest Income | $ | 4,346 | $ | 4,355 | $ | 4,570 | $ | 4,634 | |||||||||
Interest Expense | 604 | 566 | 548 | 518 | |||||||||||||
Net Interest Income | 3,742 | 3,789 | 4,022 | 4,116 | |||||||||||||
Provision for Loan Losses | 100 | - | - | - | |||||||||||||
Net Interest Income after Provision for Loan Losses | 3,642 | 3,789 | 4,022 | 4,116 | |||||||||||||
Non Interest Income | 735 | 857 | 728 | 885 | |||||||||||||
Non Interest Expense | 3,329 | 3,326 | 3,287 | 3,416 | |||||||||||||
Income before Income Tax Expense | 1,048 | 1,320 | 1,463 | 1,585 | |||||||||||||
Income Tax Expense | 188 | 280 | 324 | 368 | |||||||||||||
Net Income | $ | 860 | $ | 1,040 | $ | 1,139 | $ | 1,217 | |||||||||
Earnings Per Share - Basic | $ | 0.35 | $ | 0.42 | $ | 0.46 | $ | 0.49 | |||||||||
Earnings Per Share - Diluted | 0.35 | 0.42 | 0.46 | 0.49 | |||||||||||||
Dividends Per Share | 0.21 | 0.21 | 0.21 | 0.21 |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | 2 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Number of Operating Segments | 1 | ||||
Due from Banks | $1,900,000 | $388,000 | 1,900,000 | ||
Common Stock, Value, Issued | 1,818,000 | 1,095,000 | 1,818,000 | ||
Real Estate Acquired Through Foreclosure | 278,000 | 310,000 | 278,000 | ||
Loans in Process of Foreclosure | 2,700,000 | 710,000 | 2,700,000 | ||
Goodwill, Impairment Loss | 0 | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 0 | 14,515 | 38,320 | 0 | 65,235 |
Interest Paid, Net | 1,900,000 | 2,300,000 | 3,300,000 | ||
Income Taxes Paid | 1,800,000 | 525,000 | 1,200,000 | ||
Real Estate Owned, Transfer to Real Estate Owned | 1,600,000 | 1,000,000 | 544,000 | ||
Atlantic Community Bankersb Bank (ACBB) [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Common Stock, Value, Issued | 85,000 | 40,000 | 85,000 | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Furniture and Fixtures [Member] | Maximum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 7 years | ||||
Building [Member] | Minimum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 27 years 6 months | ||||
Building [Member] | Maximum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 40 years | ||||
Leasehold Improvements [Member] | Minimum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 7 years | ||||
Leasehold Improvements [Member] | Maximum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Property, Plant and Equipment, Useful Life | 15 years | ||||
Core Deposits [Member] | Minimum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 8 years | ||||
Core Deposits [Member] | Maximum [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||
Core Deposits [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Finite-Lived Intangible Asset, Useful Life | 9 years | ||||
Accrued Interest and Other Assets [Member] | |||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Federal Home Loan Bank Stock | $3,300,000 | $1,700,000 | 3,300,000 |
Note_2_Merger_Details
Note 2 - Merger (Details) (USD $) | 0 Months Ended | 2 Months Ended | 12 Months Ended | |
Oct. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | |
Core Deposits [Member] | FedFirst Financial Corporation [Member] | ||||
Note 2 - Merger (Details) [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $5,000,000 | |||
Finite-Lived Intangible Asset, Useful Life | 9 years | |||
Core Deposits [Member] | ||||
Note 2 - Merger (Details) [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,000,000 | 5,000,000 | 5,000,000 | |
Finite-Lived Intangible Asset, Useful Life | 9 years | |||
FedFirst Financial Corporation [Member] | ||||
Note 2 - Merger (Details) [Line Items] | ||||
Business Combination, Number of Branches Acquired | 5 | |||
Business Acquisition, Share Price (in Dollars per share) | $23 | |||
Fixed Exchange Ratio (in Shares) | 1.159 | |||
Business Combination Required Percentage of Stock to Be Exchanged | 65.00% | |||
Business Combination Remaining Percentage of Cash to Be Exchanged | 35.00% | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 1,721,967 | |||
Payments to Acquire Businesses, Gross | 18,406,000 | |||
Business Combination, Consideration Transferred | 54,716,000 | |||
Business Combination, Pro Forma Information, Netinterest Income of Acquiree since Acquisition Date, Actual | 2,100,000 | |||
Business Combination, Pro Forma Information, Noninterest Income of Acquiree since Acquisition Date, Actual | 500,000 | |||
Business Combination, Pro Forma Information, Noninterest Expenses of Acquiree since Acquisition Date, Actual | 1,600,000 | |||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 644,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 4,977,000 | |||
Business Combination, Acquisition Related Costs | 2,000,000 | |||
Business Combination, Contingent Consideration, Liability | $678,000 | $678,000 | $678,000 |
Note_2_Merger_Details_Assets_a
Note 2 - Merger (Details) - Assets and Liabilities Assumed (USD $) | 0 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Liabilities Assumed: | |||
Goodwill Recognized | $5,632 | $2,158 | |
FedFirst Financial Corporation [Member] | |||
Consideration Paid: | |||
Cash Paid for Redemption of FedFirst Common Stock | 18,406 | ||
CB Financial Common Stock Issued in Exchange for FedFirst Common Stock | 36,310 | ||
Total Consideration Paid | 54,716 | ||
Assets Acquired: | |||
Cash and Cash Equivalents | 4,552 | ||
Net Loans | 283,565 | ||
Premises and Equipment | 5,814 | ||
Bank Owned Life Insurance | 8,760 | ||
Core Deposit Intangible | 4,977 | ||
Other Assets | 3,475 | ||
Total Assets Acquired | 311,143 | ||
Liabilities Assumed: | |||
Deposits | 206,389 | ||
Borrowings | 51,173 | ||
Other Liabilities | 2,339 | ||
Total Liabilities Assumed | 259,901 | ||
Total Identifiable Net Assets | 51,242 | ||
Goodwill Recognized | $3,474 |
Note_2_Merger_Details_Pro_Form
Note 2 - Merger (Details) - Pro Forma Information (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 2 - Merger (Details) - Pro Forma Information [Line Items] | |||||||||||
Net Interest Income | $6,405 | $4,186 | $4,182 | $4,108 | $4,116 | $4,022 | $3,789 | $3,742 | $18,881 | $15,669 | $15,456 |
Noninterest Income | 1,465 | 855 | 774 | 724 | 885 | 728 | 857 | 735 | 3,818 | 3,205 | 3,533 |
Noninterest Expense | 5,260 | 4,034 | 4,047 | 3,457 | 3,416 | 3,287 | 3,326 | 3,329 | 16,798 | 13,358 | 13,287 |
Net Income | 1,735 | 739 | 739 | 1,079 | 1,217 | 1,139 | 1,040 | 860 | 4,292 | 4,256 | 4,217 |
Earnings Per Share: | |||||||||||
Basic (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.73 | $1.73 |
Dilulted (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.72 | $1.70 |
Pro Forma [Member] | FedFirst Financial Corporation [Member] | |||||||||||
Note 2 - Merger (Details) - Pro Forma Information [Line Items] | |||||||||||
Net Interest Income | 29,006 | 26,235 | |||||||||
Noninterest Income | 7,732 | 7,491 | |||||||||
Noninterest Expense | 32,251 | 23,856 | |||||||||
Net Income | $3,144 | $6,644 | |||||||||
Earnings Per Share: | |||||||||||
Basic (in Dollars per share) | $0.77 | $1.59 | |||||||||
Dilulted (in Dollars per share) | $0.77 | $1.58 |
Note_3_Earnings_Per_Share_Deta
Note 3 - Earnings Per Share (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 |
Note_3_Earnings_Per_Share_Deta1
Note 3 - Earnings Per Share (Details) - Basic and Diluted Earnings Per Common Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Basic and Diluted Earnings Per Common Share [Abstract] | |||||||||||
Weighted-Average Common Shares Outstanding | 2,925,026 | 2,622,455 | 2,597,165 | ||||||||
Average Treasury Stock Shares | -291,155 | -158,884 | -158,884 | ||||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Basic Earnings Per Share | 2,633,871 | 2,463,571 | 2,438,281 | ||||||||
Additional Common Stock Equivalents (Stock Options) Used to Calculated Diluted Earnings Per Share | 1,219 | 14,515 | 38,320 | ||||||||
Weighted-Average Common Shares and Common Stock Equivalents Used to Calculate Diluted Earnings Per Share | 2,635,090 | 2,478,086 | 2,476,601 | ||||||||
Earnings per share: | |||||||||||
Basic (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.73 | $1.73 |
Diluted (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.72 | $1.70 |
Note_4_Investment_Securities_D
Note 4 - Investment Securities (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Investments, Debt and Equity Securities [Abstract] | ||
Available-for-sale Securities Pledged as Collateral | $84,800,000 | $81,800,000 |
Held-to-maturity Securities Pledged as Collateral | 0 | 0 |
Available-for-sale Securities, Gross Realized Gains | 60,000 | |
Proceeds from Sale of Available-for-sale Securities | $18,712,000 | $0 |
Note_4_Investment_Securities_D1
Note 4 - Investment Securities (Details) - Amortized Cost and Fair Value of Investment Securities Available-for-Sale (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $104,593 | $134,966 |
Gross Unrealized Gains | 1,130 | 790 |
Gross Unrealized Losses | -274 | -1,946 |
Fair Value | 105,449 | 133,810 |
US Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 57,669 | 77,559 |
Gross Unrealized Gains | 139 | 8 |
Gross Unrealized Losses | -157 | -1,273 |
Fair Value | 57,651 | 76,294 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 41,611 | 50,481 |
Gross Unrealized Gains | 886 | 659 |
Gross Unrealized Losses | -116 | -637 |
Fair Value | 42,381 | 50,503 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,240 | 5,916 |
Gross Unrealized Gains | 33 | 41 |
Gross Unrealized Losses | -32 | |
Fair Value | 4,273 | 5,925 |
Equity Securities - Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 500 | 500 |
Gross Unrealized Gains | 14 | 35 |
Fair Value | 514 | 535 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 573 | 510 |
Gross Unrealized Gains | 58 | 47 |
Gross Unrealized Losses | -1 | -4 |
Fair Value | $630 | $553 |
Note_4_Investment_Securities_D2
Note 4 - Investment Securities (Details) - The Amortized Cost and Fair Value of Investment Securities Held to Maturity (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | $504 | $1,006 |
Fair value | 504 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | 504 | 1,006 |
Gross unrealized gains | 3 | |
Fair value | $504 | $1,009 |
Note_4_Investment_Securities_D3
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position [Line Items] | ||
Less than Twelve Months, Number of Securities | 16 | 53 |
Less than Twelve Months, Fair Value | $28,272 | $74,009 |
Less than Twelve Months, Gross Unrealized Losses | -154 | -1,488 |
Twelve Months or More, Number of Securities | 23 | 20 |
Twelve Months or More , Fair Value | 16,577 | 15,886 |
Twelve Months or More , Gross Unrealized Losses | -120 | -458 |
Number of Securities, Total | 39 | 73 |
Fair Value , Total | 44,849 | 89,895 |
Gross Unrealized Losses, Total | -274 | -1,946 |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position [Line Items] | ||
Less than Twelve Months, Number of Securities | 10 | 21 |
Less than Twelve Months, Fair Value | 26,101 | 52,407 |
Less than Twelve Months, Gross Unrealized Losses | -144 | -1,043 |
Twelve Months or More, Number of Securities | 1 | 4 |
Twelve Months or More , Fair Value | 2,987 | 7,834 |
Twelve Months or More , Gross Unrealized Losses | -13 | -230 |
Number of Securities, Total | 11 | 25 |
Fair Value , Total | 29,088 | 60,241 |
Gross Unrealized Losses, Total | -157 | -1,273 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position [Line Items] | ||
Less than Twelve Months, Number of Securities | 5 | 28 |
Less than Twelve Months, Fair Value | 2,123 | 16,489 |
Less than Twelve Months, Gross Unrealized Losses | -9 | -409 |
Twelve Months or More, Number of Securities | 22 | 16 |
Twelve Months or More , Fair Value | 13,590 | 8,052 |
Twelve Months or More , Gross Unrealized Losses | -107 | -228 |
Number of Securities, Total | 27 | 44 |
Fair Value , Total | 15,713 | 24,541 |
Gross Unrealized Losses, Total | -116 | -637 |
Equity Securities [Member] | ||
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position [Line Items] | ||
Less than Twelve Months, Number of Securities | 1 | 2 |
Less than Twelve Months, Fair Value | 48 | 85 |
Less than Twelve Months, Gross Unrealized Losses | -1 | -4 |
Number of Securities, Total | 1 | 2 |
Fair Value , Total | 48 | 85 |
Gross Unrealized Losses, Total | -1 | -4 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 4 - Investment Securities (Details) - Gross Unrealized Losses and Fair Value by Investment Category and Continuous Unrealized Loss Position [Line Items] | ||
Less than Twelve Months, Number of Securities | 2 | |
Less than Twelve Months, Fair Value | 5,028 | |
Less than Twelve Months, Gross Unrealized Losses | -32 | |
Number of Securities, Total | 2 | |
Fair Value , Total | 5,028 | |
Gross Unrealized Losses, Total | ($32) |
Note_4_Investment_Securities_D4
Note 4 - Investment Securities (Details) - Summary Maturities of Investment Securities Available-for-Sale and Held to Maturity (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary Maturities of Investment Securities Available-for-Sale and Held to Maturity [Abstract] | ||
Due in One Year or Less | $3,811 | |
Due in One Year or Less | 3,865 | |
Due in One Year or Less | 504 | |
Due in One Year or Less | 504 | |
Due after One Year through Five Years | 30,353 | |
Due after One Year through Five Years | 30,335 | |
Due after Five Years through Ten Years | 50,593 | |
Due after Five Years through Ten Years | 50,913 | |
Due after Ten Years | 19,836 | |
Due after Ten Years | 20,336 | |
Total | 104,593 | 134,966 |
Total | 105,449 | 133,810 |
Total | 504 | 1,006 |
Total | $504 |
Note_4_Investment_Securities_D5
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | $42,115 |
Fair value | 42,885 |
Pennsylvania Municipalities [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 39,389 |
Fair value | 40,096 |
Pennsylvania Political Subdivisions [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 2,229 |
Fair value | 2,286 |
US States and Political Subdivisions Debt Securities [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 497 |
Fair value | 503 |
General Obligation [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 39,389 |
Fair value | 40,096 |
Special Revenue [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 42,115 |
Fair value | 42,885 |
Public Improvement [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 250 |
Fair value | 251 |
Water and Sewer [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 247 |
Fair value | 252 |
Other Debt Type [Member] | |
Note 4 - Investment Securities (Details) - Obligations of States, Municipalities and Political Subdivisions [Line Items] | |
Amortized cost | 2,229 |
Fair value | $2,286 |
Note_5_Loans_and_Related_Allow2
Note 5 - Loans and Related Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | 2 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 | |
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Real Estate Loans Serviced for Others | $62,300,000 | $53,000,000 | $62,300,000 | |
Loans and Leases Receivable, Gross | 685,646,000 | 379,146,000 | 685,646,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 95,000 | 64,000 | ||
Financing Receivable, Individually Evaluated for Impairment | 9,391,000 | 7,264,000 | 9,391,000 | 5,800,000 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 5,300,000 | 2,200,000 | 5,300,000 | 1,000,000 |
Residential Portfolio Segment [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,100,000 | 700,000 | 1,100,000 | 1,600,000 |
Commercial and Industrial [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 368,000 | 368,000 | 200,000,000 | |
Consumer Portfolio Segment [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 400,000 | |||
Two Unspecified Loans Classified as TDRs [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 13 | 2 | ||
Financing Receivable, Modifications, Recorded Investment | 4,000,000 | 543,000 | 4,000,000 | |
Temporary Rate Modification and Extension of Maturity [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | ||
Financing Receivable, Modifications, Recorded Investment | 317,000 | 259,000 | 317,000 | |
Unlikely to be Collected Financing Receivable [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Loans and Leases Receivable, Gross | 0 | 0 | 0 | |
FedFirst Financial Corporation [Member] | ||||
Note 5 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 9 | |||
Financing Receivable, Modifications, Recorded Investment | $3,200,000 | $3,200,000 |
Note_5_Loans_and_Related_Allow3
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Composition of Loan Portfolio (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $685,646,000 | $379,146,000 |
Less Allowance for Loan Losses | -5,195,000 | -5,382,000 |
Net Loans | 680,451,000 | 373,764,000 |
Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 331,873,000 | 164,245,000 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 174,265,000 | 95,333,000 |
Construction Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 22,197,000 | 10,367,000 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 72,064,000 | 41,719,000 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 77,611,000 | 59,101,000 |
Other Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $7,636,000 | $8,381,000 |
Note_5_Loans_and_Related_Allow4
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Credit Quality Information (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Real Estate: | ||
Loan type | $685,646,000 | $379,146,000 |
Residential Mortgage [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 329,417,000 | 163,234,000 |
Residential Mortgage [Member] | Special Mention [Member] | ||
Real Estate: | ||
Loan type | 194,000 | 397,000 |
Residential Mortgage [Member] | Substandard [Member] | ||
Real Estate: | ||
Loan type | 2,243,000 | 604,000 |
Residential Mortgage [Member] | Doubtful [Member] | ||
Real Estate: | ||
Loan type | 19,000 | 10,000 |
Residential Mortgage [Member] | ||
Real Estate: | ||
Loan type | 331,873,000 | 164,245,000 |
Commercial Real Estate [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 154,225,000 | 78,324,000 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Real Estate: | ||
Loan type | 13,373,000 | 11,859,000 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Real Estate: | ||
Loan type | 5,975,000 | 335,000 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Real Estate: | ||
Loan type | 692,000 | 4,815,000 |
Commercial Real Estate [Member] | ||
Real Estate: | ||
Loan type | 174,265,000 | 95,333,000 |
Construction Loan [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 20,963,000 | 6,712,000 |
Construction Loan [Member] | Special Mention [Member] | ||
Real Estate: | ||
Loan type | 101,000 | 2,178,000 |
Construction Loan [Member] | Substandard [Member] | ||
Real Estate: | ||
Loan type | 789,000 | |
Construction Loan [Member] | Doubtful [Member] | ||
Real Estate: | ||
Loan type | 344,000 | 1,477,000 |
Construction Loan [Member] | ||
Real Estate: | ||
Loan type | 22,197,000 | 10,367,000 |
Commercial Loan [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 67,171,000 | 37,924,000 |
Commercial Loan [Member] | Special Mention [Member] | ||
Real Estate: | ||
Loan type | 4,208,000 | 3,480,000 |
Commercial Loan [Member] | Substandard [Member] | ||
Real Estate: | ||
Loan type | 383,000 | |
Commercial Loan [Member] | Doubtful [Member] | ||
Real Estate: | ||
Loan type | 302,000 | 315,000 |
Commercial Loan [Member] | ||
Real Estate: | ||
Loan type | 72,064,000 | 41,719,000 |
Consumer Loan [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 77,607,000 | 59,084,000 |
Consumer Loan [Member] | Substandard [Member] | ||
Real Estate: | ||
Loan type | 4,000 | 17,000 |
Consumer Loan [Member] | ||
Real Estate: | ||
Loan type | 77,611,000 | 59,101,000 |
Other Loan [Member] | Pass [Member] | ||
Real Estate: | ||
Loan type | 7,636,000 | 8,381,000 |
Other Loan [Member] | ||
Real Estate: | ||
Loan type | 7,636,000 | 8,381,000 |
Pass [Member] | ||
Real Estate: | ||
Loan type | 657,019,000 | 353,659,000 |
Special Mention [Member] | ||
Real Estate: | ||
Loan type | 17,876,000 | 17,914,000 |
Substandard [Member] | ||
Real Estate: | ||
Loan type | 9,394,000 | 956,000 |
Doubtful [Member] | ||
Real Estate: | ||
Loan type | $1,357,000 | $6,617,000 |
Note_5_Loans_and_Related_Allow5
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Delinquencies in the Loan Portfolio (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Real Estate: | ||
Loans current | $677,711,000 | $374,195,000 |
30-59 Days Past Due | 4,542,000 | 1,061,000 |
60-89 Days Past Due | 58,000 | 504,000 |
Total Past Due | 4,979,000 | 1,565,000 |
Non- Accrual | 2,956,000 | 3,386,000 |
Total Loans | 685,646,000 | 379,146,000 |
90 Days Past Due | 379,000 | |
Residential Mortgage [Member] | ||
Real Estate: | ||
Loans current | 328,314,000 | 163,626,000 |
30-59 Days Past Due | 1,613,000 | 173,000 |
60-89 Days Past Due | 34,000 | 107,000 |
Total Past Due | 2,016,000 | 280,000 |
Non- Accrual | 1,543,000 | 339,000 |
Total Loans | 331,873,000 | 164,245,000 |
90 Days Past Due | 369,000 | |
Commercial Real Estate [Member] | ||
Real Estate: | ||
Loans current | 170,675,000 | 91,686,000 |
30-59 Days Past Due | 2,525,000 | 592,000 |
60-89 Days Past Due | 390,000 | |
Total Past Due | 2,525,000 | 982,000 |
Non- Accrual | 1,065,000 | 2,665,000 |
Total Loans | 174,265,000 | 95,333,000 |
Construction Loan [Member] | ||
Real Estate: | ||
Loans current | 21,853,000 | 10,002,000 |
Non- Accrual | 344,000 | 365,000 |
Total Loans | 22,197,000 | 10,367,000 |
Commercial Loan [Member] | ||
Real Estate: | ||
Loans current | 72,053,000 | 41,711,000 |
30-59 Days Past Due | 7,000 | 8,000 |
Total Past Due | 7,000 | 8,000 |
Non- Accrual | 4,000 | |
Total Loans | 72,064,000 | 41,719,000 |
Consumer Loan [Member] | ||
Real Estate: | ||
Loans current | 77,180,000 | 58,789,000 |
30-59 Days Past Due | 397,000 | 288,000 |
60-89 Days Past Due | 24,000 | 7,000 |
Total Past Due | 431,000 | 295,000 |
Non- Accrual | 17,000 | |
Total Loans | 77,611,000 | 59,101,000 |
90 Days Past Due | 10,000 | |
Other Loan [Member] | ||
Real Estate: | ||
Loans current | 7,636,000 | 8,381,000 |
Total Loans | $7,636,000 | $8,381,000 |
Note_5_Loans_and_Related_Allow6
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Impaired Loans (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Real Estate: | |||
Recorded Investment | $9,391,000 | $7,264,000 | $5,806,000 |
Related Allowance | 873,000 | 1,158,000 | 1,128,000 |
Unpaid Principal Balance | 9,476,000 | 7,571,000 | 7,690,000 |
Average Recorded Investment | 10,776,000 | 8,062,000 | 6,496,000 |
Interest Income Recognized | 419,000 | 317,000 | 255,000 |
Residential Mortgage [Member] | |||
Real Estate: | |||
Recorded Investment | 992,000 | 65,000 | 1,632,000 |
Related Allowance | 6,000 | ||
Unpaid Principal Balance | 1,017,000 | 86,000 | 1,680,000 |
Average Recorded Investment | 1,012,000 | 94,000 | 1,708,000 |
Interest Income Recognized | 51,000 | 5,000 | 54,000 |
Commercial Real Estate [Member] | |||
Real Estate: | |||
Recorded Investment | 6,580,000 | 5,407,000 | 3,343,000 |
Related Allowance | 519,000 | 640,000 | 871,000 |
Unpaid Principal Balance | 6,640,000 | 5,693,000 | 3,610,000 |
Average Recorded Investment | 7,653,000 | 5,960,000 | 3,904,000 |
Interest Income Recognized | 293,000 | 245,000 | 185,000 |
Construction Loan [Member] | |||
Real Estate: | |||
Recorded Investment | 1,133,000 | 1,477,000 | 365,000 |
Related Allowance | 100,000 | 265,000 | 166,000 |
Unpaid Principal Balance | 1,133,000 | 1,477,000 | 365,000 |
Average Recorded Investment | 1,366,000 | 1,692,000 | 365,000 |
Interest Income Recognized | 41,000 | 54,000 | |
Commercial Loan [Member] | |||
Real Estate: | |||
Recorded Investment | 686,000 | 315,000 | 430,000 |
Related Allowance | 254,000 | 253,000 | 85,000 |
Unpaid Principal Balance | 686,000 | 315,000 | 1,981,000 |
Average Recorded Investment | 745,000 | 316,000 | 456,000 |
Interest Income Recognized | 34,000 | 13,000 | 12,000 |
Consumer Loan [Member] | |||
Real Estate: | |||
Recorded Investment | 36,000 | ||
Unpaid Principal Balance | 54,000 | ||
Average Recorded Investment | 63,000 | ||
Interest Income Recognized | $4,000 |
Note_5_Loans_and_Related_Allow7
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Loans Classified as TDRs (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Real Estate | |||
Recorded investment | $9,391 | $7,264 | $5,806 |
Residential Portfolio Segment [Member] | Modification of Payment and Other Terms [Member] | |||
Real Estate | |||
Number of contracts | 3 | ||
Recorded investment | 1,343 | ||
Commercial Real Estate Portfolio Segment [Member] | Temporary Rate Modification [Member] | |||
Real Estate | |||
Number of contracts | 2 | 1 | |
Recorded investment | 317 | 259 | |
Commercial Real Estate Portfolio Segment [Member] | Extension of Maturity [Member] | |||
Real Estate | |||
Number of contracts | 5 | 1 | |
Recorded investment | 1,507 | 259 | |
Commercial Real Estate Portfolio Segment [Member] | Modification of Payment and Other Terms [Member] | |||
Real Estate | |||
Number of contracts | 3 | ||
Recorded investment | 629 | ||
Temporary Rate Modification [Member] | |||
Real Estate | |||
Number of contracts | 2 | 1 | |
Recorded investment | 317 | 259 | |
Extension of Maturity [Member] | |||
Real Estate | |||
Number of contracts | 5 | 1 | |
Recorded investment | 1,507 | 259 | |
Modification of Payment and Other Terms [Member] | |||
Real Estate | |||
Number of contracts | 6 | ||
Recorded investment | $1,972 |
Note_5_Loans_and_Related_Allow8
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | $5,382 | $5,904 | $5,879 |
Charge-offs | -272 | -941 | -596 |
Recoveries | 85 | 319 | 171 |
Provision | 100 | 450 | |
Ending Balance | 5,195 | 5,382 | 5,904 |
Individually Evaluated for Impairment | 873 | 1,158 | 1,128 |
Collectively Evaluated for Potential Losses | 4,322 | 4,224 | 4,776 |
Residential Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 1,481 | 2,215 | 902 |
Charge-offs | -39 | -181 | -71 |
Recoveries | 2 | 86 | 49 |
Provision | 1,246 | -639 | 1,335 |
Ending Balance | 2,690 | 1,481 | 2,215 |
Individually Evaluated for Impairment | 6 | ||
Collectively Evaluated for Potential Losses | 2,690 | 1,481 | 2,209 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 1,703 | 2,051 | 3,271 |
Charge-offs | -555 | -103 | |
Recoveries | 69 | ||
Provision | -1,121 | 138 | -1,117 |
Ending Balance | 582 | 1,703 | 2,051 |
Individually Evaluated for Impairment | 519 | 640 | 871 |
Collectively Evaluated for Potential Losses | 63 | 1,063 | 1,180 |
Construction Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 355 | 326 | 436 |
Charge-offs | -38 | ||
Provision | -195 | 29 | -110 |
Ending Balance | 122 | 355 | 326 |
Individually Evaluated for Impairment | 100 | 265 | 166 |
Collectively Evaluated for Potential Losses | 22 | 90 | 160 |
Commercial Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 1,013 | 1,043 | 983 |
Charge-offs | -109 | -255 | |
Recoveries | 5 | 68 | 49 |
Provision | -334 | 11 | 266 |
Ending Balance | 684 | 1,013 | 1,043 |
Individually Evaluated for Impairment | 254 | 253 | 85 |
Collectively Evaluated for Potential Losses | 430 | 760 | 958 |
Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 592 | 320 | 287 |
Charge-offs | -195 | -96 | -167 |
Recoveries | 78 | 96 | 73 |
Provision | 540 | 272 | 127 |
Ending Balance | 1,015 | 592 | 320 |
Collectively Evaluated for Potential Losses | 1,015 | 592 | 320 |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending Balance | 238 | -51 | |
Provision | -136 | 289 | -51 |
Ending Balance | 102 | 238 | -51 |
Collectively Evaluated for Potential Losses | $102 | $238 | ($51) |
Note_5_Loans_and_Related_Allow9
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Individually Evaluated for Impairment | $9,391,000 | $7,264,000 | $5,800,000 |
Collectively Evaluated for Impairment | 676,255,000 | 371,882,000 | |
Total Loans | 685,646,000 | 379,146,000 | |
Residential Mortgage [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Individually Evaluated for Impairment | 992,000 | 65,000 | |
Collectively Evaluated for Impairment | 330,881,000 | 164,180,000 | |
Total Loans | 331,873,000 | 164,245,000 | |
Commercial Real Estate [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Individually Evaluated for Impairment | 6,580,000 | 5,407,000 | |
Collectively Evaluated for Impairment | 167,685,000 | 89,926,000 | |
Total Loans | 174,265,000 | 95,333,000 | |
Construction Loan [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Individually Evaluated for Impairment | 1,133,000 | 1,477,000 | |
Collectively Evaluated for Impairment | 21,064,000 | 8,890,000 | |
Total Loans | 22,197,000 | 10,367,000 | |
Commercial Loan [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Individually Evaluated for Impairment | 686,000 | 315,000 | |
Collectively Evaluated for Impairment | 71,378,000 | 41,404,000 | |
Total Loans | 72,064,000 | 41,719,000 | |
Consumer Loan [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Collectively Evaluated for Impairment | 77,611,000 | 59,101,000 | |
Total Loans | 77,611,000 | 59,101,000 | |
Other Loan [Member] | |||
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Loans Summarized by Individually Evaluated for Impairment and Collectively Evaluated for Potential Losses [Line Items] | |||
Collectively Evaluated for Impairment | 7,636,000 | 8,381,000 | |
Total Loans | $7,636,000 | $8,381,000 |
Recovered_Sheet1
Note 5 - Loans and Related Allowance for Loan Losses (Details) - Related Party Loans (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Related Party Loans [Abstract] | ||
Balance, | $3,394 | $3,511 |
Additions | 4,077 | 142 |
Payments | -130 | -259 |
Balance, | $7,341 | $3,394 |
Note_6_Premises_and_Equipment_1
Note 6 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $509,000 | $478,000 | $424,000 |
Note_6_Premises_and_Equipment_2
Note 6 - Premises and Equipment (Details) - Classifications of Premises and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | $24,358 | $15,021 |
Less Accumulated Depreciation and Amortization | -13,765 | -10,409 |
Total Premises and Equipment | 10,593 | 4,612 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 1,678 | 1,112 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 10,996 | 4,177 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 1,701 | 1,625 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | 9,684 | 7,808 |
Assets Held under Capital Leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and Equipment | $299 | $299 |
Note_7_Core_Deposit_Intangible2
Note 7 - Core Deposit Intangible (Details) (Core Deposits [Member], USD $) | 2 Months Ended |
Dec. 31, 2014 | |
Core Deposits [Member] | |
Note 7 - Core Deposit Intangible (Details) [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $5,000,000 |
Finite-Lived Intangible Asset, Useful Life | 9 years |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 535,000 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 535,000 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 535,000 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 535,000 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 535,000 |
Finite-Lived Intangible Assets, Five Year Amortization | $2,700,000 |
Note_7_Core_Deposit_Intangible3
Note 7 - Core Deposit Intangible (Details) - Core Deposit Intangible Assets (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | $4,888 | ||
Merger with FedFirst Financial Corporation | 4,888 | ||
Core Deposits [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 4,977 | 2,193 | 2,193 |
Accumulated Amortization | -89 | -2,193 | -2,140 |
Net Carrying Amount | 4,888 | 53 | |
Merger with FedFirst Financial Corporation | 4,977 | 2,193 | 2,193 |
Merger with FedFirst Financial Corporation | 4,977 | ||
Accumulated Amortization | -89 | -53 | |
Net Carrying Amount | ($89) | ($53) |
Note_8_Deposits_Details
Note 8 - Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Disclosure Text Block [Abstract] | ||
Time Deposits, $100,000 or More | $26.90 | $15.80 |
Note_8_Deposits_Details_Maturi
Note 8 - Deposits (Details) - Maturities of Time Deposits (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Maturities of Time Deposits [Abstract] | ||
2015 | $54,185 | |
2016 | 43,679 | |
2017 | 14,737 | |
2018 | 15,460 | |
2019 | 9,791 | |
Beyond 2019 | 13,742 | |
Total | $151,594 | $84,670 |
Note_9_Federal_Funds_Purchased2
Note 9 - Federal Funds Purchased and Short-term Borrowings (Details) - Federal Funds Purchased and Short-term Borrowings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 9 - Federal Funds Purchased and Short-term Borrowings (Details) - Federal Funds Purchased and Short-term Borrowings [Line Items] | ||
Balance at Year-End | $46,684 | $15,384 |
Federal Funds Purchased [Member] | ||
Note 9 - Federal Funds Purchased and Short-term Borrowings (Details) - Federal Funds Purchased and Short-term Borrowings [Line Items] | ||
Average Balance Outstanding During the Year | 375 | 672 |
Average Balance Outstanding During the Year, Weighted Average Rate | 0.46% | 0.47% |
Maximum Amount Outstanding at any Month End | 1,850 | 4,100 |
Other Short-term Debt [Member] | ||
Note 9 - Federal Funds Purchased and Short-term Borrowings (Details) - Federal Funds Purchased and Short-term Borrowings [Line Items] | ||
Balance at Year-End | 25,800 | |
Balance at Year-End, Weighted Average Rate | 0.32% | |
Average Balance Outstanding During the Year | 4,283 | |
Average Balance Outstanding During the Year, Weighted Average Rate | 0.31% | |
Maximum Amount Outstanding at any Month End | 25,800 | |
Securities Sold under Agreements to Repurchase [Member] | ||
Note 9 - Federal Funds Purchased and Short-term Borrowings (Details) - Federal Funds Purchased and Short-term Borrowings [Line Items] | ||
Balance at Year-End | 20,884 | 15,384 |
Balance at Year-End, Weighted Average Rate | 0.17% | 0.28% |
Average Balance Outstanding During the Year | 17,525 | 21,035 |
Average Balance Outstanding During the Year, Weighted Average Rate | 0.26% | 0.27% |
Maximum Amount Outstanding at any Month End | 25,893 | 25,683 |
Securities Collaterizing the Agreements at Year-End: | ||
Carrying Value | 23,244 | 25,399 |
Market Value | $23,243 | $24,921 |
Note_10_Other_Borrowed_Funds_D
Note 10 - Other Borrowed Funds (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Note 10 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $277.90 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 20 | 20 |
Federal Reserve Bank [Member] | ||
Note 10 - Other Borrowed Funds (Details) [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 40 | |
Long-term Line of Credit | $0 |
Note_10_Other_Borrowed_Funds_D1
Note 10 - Other Borrowed Funds (Details) - Federal Home Loan Bank Advances (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank Advances [Abstract] | ||
Due in One Year | $15,136 | $1,000 |
Due in One Year | 3.78% | 2.26% |
Due After One Year to Two Years | 3,000 | |
Due After One Year to Two Years | 3.60% | |
Total | $15,136 | $4,000 |
Total | 3.78% | 3.27% |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits | $0 | $0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $0 | $0 |
Note_11_Income_Taxes_Details_P
Note 11 - Income Taxes (Details) - Provision for Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Provision for Income Taxes [Abstract] | |||||||||||
Current Payable | $391 | $968 | $1,021 | ||||||||
Deferred | 1,218 | 192 | 14 | ||||||||
Total Provision | $875 | $268 | $170 | $296 | $368 | $324 | $280 | $188 | $1,609 | $1,160 | $1,035 |
Note_11_Income_Taxes_Details_S
Note 11 - Income Taxes (Details) - Summary of Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets: | ||
Allowance for Loan Losses | $1,624 | $1,548 |
Amortization of Core Deposit Intangible | 55 | 95 |
Amortization of Intangibles | 123 | |
Tax Credit Carryforwards | 290 | |
Postretirement Benefits | 62 | |
Net Unrealized Loss on Securities | 393 | |
Discount Accretion | 13 | |
Passthrough Entities | 4 | 3 |
Other | 182 | 129 |
Gross Deferred Tax Assets | 2,340 | 2,181 |
Deferred Tax Liabilities: | ||
Deferred Origination Fees and Costs | 411 | 164 |
Depreciation | 522 | 604 |
Net Unrealized Gain on Securities | 291 | |
Mortgage Servicing Rights | 172 | 157 |
Purchase Accounting Adjustments | 1,552 | |
Goodwill | 508 | 473 |
Other | 3 | |
Gross Deferred Tax Liabilities | 3,459 | 1,398 |
Net Deferred Tax (Liabilities) Assets | ($1,119) | $783 |
Note_11_Income_Taxes_Details_F
Note 11 - Income Taxes (Details) - Federal Income Tax Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Federal Income Tax Reconciliation [Abstract] | |||||||||||
Provision at Statutory Rate | $2,006 | $1,841 | $1,786 | ||||||||
Provision at Statutory Rate | 34.00% | 34.00% | 34.00% | ||||||||
State Taxes (Net of Federal Benefit) | 4 | ||||||||||
State Taxes (Net of Federal Benefit) | 0.10% | ||||||||||
Effect of Tax-Free Income | -475 | -527 | -658 | ||||||||
Effect of Tax-Free Income | -8.00% | -9.70% | -12.50% | ||||||||
BOLI Income | -90 | -80 | -88 | ||||||||
BOLI Income | -1.50% | -1.50% | -1.70% | ||||||||
Merger Expenses | 460 | ||||||||||
Merger Expenses | 7.80% | ||||||||||
Other | -296 | -74 | -5 | ||||||||
Other | -5.10% | -1.40% | -0.10% | ||||||||
Actual Tax Expense and Effective Rate | $875 | $268 | $170 | $296 | $368 | $324 | $280 | $188 | $1,609 | $1,160 | $1,035 |
Actual Tax Expense and Effective Rate | 27.30% | 21.40% | 19.70% |
Note_12_Employee_Benefits_Deta
Note 12 - Employee Benefits (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 12 - Employee Benefits (Details) [Line Items] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 4.00% | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 25.00% | |||
Defined Contribution Plan, Cost Recognized | $61,000 | $41,000 | $40,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 0 | 14,515 | 38,320 | 65,235 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares (in Shares) | 0 | 0 | ||
Employee Stock Option [Member] | ||||
Note 12 - Employee Benefits (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Allocated Share-based Compensation Expense | 0 | 0 | 0 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 0 | 0 | 0 | |
Safe Harbor [Member] | ||||
Note 12 - Employee Benefits (Details) [Line Items] | ||||
Defined Contribution Plan, Cost Recognized | $476,000 | $411,000 | $420,000 |
Note_12_Employee_Benefits_Deta1
Note 12 - Employee Benefits (Details) - Stock Option Plan Activity (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Option Plan Activity [Abstract] | |||
Outstanding, January 1 | 14,515 | 38,320 | 65,235 |
Outstanding, January 1 | $14.25 | $14.48 | $14.36 |
Outstanding, December 31 | 0 | 14,515 | 38,320 |
Outstanding, December 31 | $14.25 | $14.48 | |
Exercisable, December 31 | 14,515 | 38,320 | |
Exercisable, December 31 | $14.25 | $14.48 | |
Exercised | -14,515 | -23,405 | -26,915 |
Exercised | $14.25 | $14.62 | $14.19 |
Forfeited | -400 | ||
Forfeited | $14.50 |
Note_13_Commitments_and_Contin2
Note 13 - Commitments and Contingent Liabilities (Details) - Unused and Available Credit Balances of Financial Instruments Whose Contracts Represent Credit Risk (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | $113,221 | $74,768 |
Financial Standby Letter of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 18,260 | 693 |
Performance Guarantee [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 2,986 | 1,534 |
Construction Mortgages [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 12,241 | 9,939 |
Personal Line Of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 5,675 | 5,502 |
Overdraft Protection Lines [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 6,505 | 6,552 |
Home Equity Lines of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | 13,253 | 8,155 |
Commercial Lines Of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Financial instruments | $54,301 | $42,393 |
Note_14_Regulatory_Capital_Det
Note 14 - Regulatory Capital (Details) (USD $) | 12 Months Ended | ||
In Billions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 |
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | |
Tier One Minimum Capital Requirement To Common Equity Countercyclical Buffer | 2.50% | ||
Countercyclical Buffer Threshold (in Dollars) | 250 | ||
Total Foreign Exposure (in Dollars) | 10 | ||
Small Depository Threshold (in Dollars) | 15 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | |
Top Tier Holding Company Threshold (in Dollars) | 50 | ||
Rules Phased-in In Upcoming Years [Member] | |||
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier One Minimum Capital Requirement To Common Equity | 4.50% | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | ||
Capital Conservation Buffer Phase in Period | 4 years | ||
Tier One Minimum Capital Requirement to Be Well Capitalized to Common Equity | 6.50% | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | ||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | ||
Year 2016 [Member] | |||
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier 1 Capital Maximum Conservation Buffer | 0.63% | ||
Year 2017 [Member] | |||
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier 1 Capital Maximum Conservation Buffer | 1.25% | ||
Year 2018 [Member] | |||
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier 1 Capital Maximum Conservation Buffer | 1.88% | ||
Year 2019 [Member] | |||
Note 14 - Regulatory Capital (Details) [Line Items] | |||
Tier One Minimum Capital Requirement To Common Equity | 7.00% | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.50% | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 10.50% | ||
Tier 1 Capital Maximum Conservation Buffer | 2.50% |
Note_14_Regulatory_Capital_Det1
Note 14 - Regulatory Capital (Details) - Summary of Capital Ratios (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of Capital Ratios [Abstract] | ||
Actual | $74,484 | $46,578 |
Actual | 12.50% | 12.98% |
For Capital Adequacy Purposes | 47,680 | 28,709 |
For Capital Adequacy Purposes | 8.00% | 8.00% |
To Be Well Capitalized | 59,600 | 35,885 |
To Be Well Capitalized | 10.00% | 10.00% |
Actual | 69,340 | 42,081 |
Actual | 11.63% | 11.73% |
For Capital Adequacy Purposes | 23,840 | 14,354 |
For Capital Adequacy Purposes | 4.00% | 4.00% |
To Be Well Capitalized | 35,760 | 21,531 |
To Be Well Capitalized | 6.00% | 6.00% |
Actual | 69,340 | 42,081 |
Actual | 9.33% | 7.70% |
For Capital Adequacy Purposes | 29,719 | 21,863 |
For Capital Adequacy Purposes | 4.00% | 4.00% |
To Be Well Capitalized | $37,149 | $27,329 |
To Be Well Capitalized | 5.00% | 5.00% |
Note_15_Operating_Leases_Detai
Note 15 - Operating Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Leases [Abstract] | |||
Operating Leases, Rent Expense | $483,000 | $467,000 | $368,000 |
Note_15_Operating_Leases_Detai1
Note 15 - Operating Leases (Details) - Summary of Operating Leases (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Summary of Operating Leases [Abstract] | |
2015 | $448 |
2016 | 449 |
2017 | 369 |
2018 | 290 |
2019 | 140 |
2020 & thereafter | 662 |
$2,358 |
Note_16_Fair_Value_Disclosure_1
Note 16 - Fair Value Disclosure (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | $9,400,000 | $7,300,000 | |
Impaired Financing Receivable, Related Allowance | $873,000 | $1,158,000 | $1,128,000 |
Note_16_Fair_Value_Disclosure_2
Note 16 - Fair Value Disclosure (Details) - Assets and Liabilities Reported Fair Value (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Available for Sales Securities: | ||
Available for Sale Securities | $105,449 | $133,810 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Available for Sales Securities: | ||
Available for Sale Securities | 57,651 | 76,294 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for Sales Securities: | ||
Available for Sale Securities | 42,381 | 50,502 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for Sales Securities: | ||
Available for Sale Securities | 4,273 | 5,926 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities - Mutual Funds [Member] | ||
Available for Sales Securities: | ||
Available for Sale Securities | 514 | 535 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Available for Sales Securities: | ||
Available for Sale Securities | $630 | $553 |
Note_16_Fair_Value_Disclosure_3
Note 16 - Fair Value Disclosure (Details) - Significant Unobservable Inputs Used in the Fair Value Measurements (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans (in Dollars) | 9,391 | 7,264 | $5,806 | ||
Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans (in Dollars) | 1,959 | 3,833 | |||
Market Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | OREO [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
OREO (in Dollars) | 77 | 229 | |||
Market Approach Valuation Technique [Member] | Impaired Loans [Member] | Minimum [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans | 10.00% | [1] | |||
OREO | 10.00% | [1] | |||
Market Approach Valuation Technique [Member] | Impaired Loans [Member] | Maximum [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans | 30.00% | [1] | |||
OREO | 30.00% | [1] | |||
Market Approach Valuation Technique [Member] | OREO [Member] | Minimum [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans | 10.00% | [1] | |||
OREO | 10.00% | [1] | |||
Market Approach Valuation Technique [Member] | OREO [Member] | Maximum [Member] | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||
Impaired Loans | 50.00% | [1] | |||
OREO | 50.00% | [1] | |||
[1] | Range includes discounts taken since appraisal and estimated values. |
Note_16_Fair_Value_Disclosure_4
Note 16 - Fair Value Disclosure (Details) - Estimated Fair Values of the Companybs Financial Instruments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and Due From Banks: | ||
Interest Bearing | $5,933 | $9,333 |
Non-Interest Bearing | 5,818 | 7,084 |
Investment Securities: | ||
Available for Sale | 105,449 | 133,810 |
Held to Maturity | 504 | 1,006 |
Held to Maturity | 504 | |
Bank-Owned Life Insurance | 17,735 | 8,702 |
Financial Liabilities: | ||
Deposits | 697,494 | 480,335 |
Short-term Borrowings | 46,684 | 15,384 |
Other Borrowed Funds | 15,136 | 4,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and Due From Banks: | ||
Interest Bearing | 5,933 | 9,333 |
Interest Bearing | 5,933 | 9,333 |
Non-Interest Bearing | 5,818 | 7,084 |
Non-Interest Bearing | 5,818 | 7,084 |
Investment Securities: | ||
Accrued Interest Receivable | 2,543 | 1,866 |
Accrued Interest Receivable | 2,543 | 1,866 |
Financial Liabilities: | ||
Short-term Borrowings | 46,684 | 15,384 |
Short-term Borrowings | 46,684 | 15,384 |
Accrued Interest Payable | 348 | 267 |
Accrued Interest Payable | 348 | 267 |
Fair Value, Inputs, Level 2 [Member] | ||
Investment Securities: | ||
Held to Maturity | 504 | 1,006 |
Held to Maturity | 504 | 1,009 |
Restricted Stock | 3,390 | 1,770 |
Restricted Stock | 3,390 | 1,770 |
Bank-Owned Life Insurance | 17,735 | 8,702 |
Bank-Owned Life Insurance | 17,735 | 8,702 |
Fair Value, Inputs, Level 3 [Member] | ||
Investment Securities: | ||
Loans, Net | 680,451 | 373,764 |
Loans, Net | 695,844 | 384,664 |
Financial Liabilities: | ||
Deposits | 697,494 | 480,335 |
Deposits | 698,418 | 482,704 |
Other Borrowed Funds | 15,136 | 4,000 |
Other Borrowed Funds | $15,305 | $4,148 |
Note_17_Condensed_Financial_St2
Note 17 - Condensed Financial Statements of Parent Company (Details) - Statement of Financial Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Cash and Due From Banks | $5,818 | $7,084 | ||
Investment Securities, Available-for-Sale | 105,449 | 133,810 | ||
TOTAL ASSETS | 846,314 | 546,486 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Stockholders Equity | 81,912 | 45,005 | 44,470 | 42,092 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 846,314 | 546,486 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and Due From Banks | 125 | 973 | ||
Investment Securities, Available-for-Sale | 630 | 553 | ||
Investment in Community Bank | 80,388 | 43,494 | ||
Other Assets | 781 | |||
TOTAL ASSETS | 81,924 | 45,020 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Other Liabilities | 12 | 15 | ||
Stockholders Equity | 81,912 | 45,005 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $81,924 | $45,020 |
Note_17_Condensed_Financial_St3
Note 17 - Condensed Financial Statements of Parent Company (Details) - Statement of Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Noninterest Income | $1,465 | $855 | $774 | $724 | $885 | $728 | $857 | $735 | $3,818 | $3,205 | $3,533 |
Noninterest Expense | 5,260 | 4,034 | 4,047 | 3,457 | 3,416 | 3,287 | 3,326 | 3,329 | 16,798 | 13,358 | 13,287 |
Income Taxes | 875 | 268 | 170 | 296 | 368 | 324 | 280 | 188 | 1,609 | 1,160 | 1,035 |
NET INCOME | 1,735 | 739 | 739 | 1,079 | 1,217 | 1,139 | 1,040 | 860 | 4,292 | 4,256 | 4,217 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Interest and Dividend Income | 28 | 19 | |||||||||
Dividend from bank subsidiary | 4,607 | 2,071 | 2,053 | ||||||||
Noninterest Income | 35 | ||||||||||
Noninterest Expense | 1,972 | 3 | |||||||||
Income Before Undistributed Net Income of Subsidiary and Income Taxes | 2,698 | 2,087 | 2,053 | ||||||||
Undistributed Net Income of Subsidiary | 1,399 | 2,169 | 2,164 | ||||||||
Income Before Income Taxes | 4,097 | 4,256 | 4,217 | ||||||||
Income Taxes | -195 | ||||||||||
NET INCOME | $4,292 | $4,256 | $4,217 |
Note_17_Condensed_Financial_St4
Note 17 - Condensed Financial Statements of Parent Company (Details) - Statement of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
OPERATING ACTIVITIES | |||
Net Income | $4,292,000 | $4,256,000 | $4,217,000 |
NdjustmP5nts to RP5concilP5 Net Income to Net Cash (Used In) Provided By Operating Activities: | |||
Gain on Sales of Investment Securities | -60,000 | 0 | -14,000 |
Other, net | -8,723,000 | 637,000 | -934,000 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -2,401,000 | 8,050,000 | 6,717,000 |
INVESTING ACTIVITIES | |||
Proceeds from Sales of Securities | 18,712,000 | 0 | |
NET CASH USED IN INVESTING ACTIVITIES | -293,147,000 | -14,398,000 | -33,114,000 |
FINANCING ACTIVITIES | |||
Cash Dividends Paid | -2,333,000 | -2,072,000 | -2,053,000 |
Treasury Stock, Purchases at Cost | -2,896,000 | ||
Issuance of Common Stock | 36,310,000 | ||
Exercise of Stock Options | 206,000 | 343,000 | 382,000 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 290,882,000 | -2,531,000 | 9,231,000 |
(DECREASE) INCREASE IN CASH AND EQUIVALENTS | -4,666,000 | -8,879,000 | -17,166,000 |
Cash and Equivalents | 11,751,000 | 16,417,000 | 25,296,000 |
Beginning Balance [Member] | Parent Company [Member] | |||
FINANCING ACTIVITIES | |||
Cash and Equivalents | 973,000 | 1,124,000 | 743,000 |
Ending Balance [Member] | Parent Company [Member] | |||
FINANCING ACTIVITIES | |||
Cash and Equivalents | 125,000 | 973,000 | 1,124,000 |
Parent Company [Member] | |||
OPERATING ACTIVITIES | |||
Net Income | 4,292,000 | 4,256,000 | 4,217,000 |
NdjustmP5nts to RP5concilP5 Net Income to Net Cash (Used In) Provided By Operating Activities: | |||
Undistributed Net Income of Subsidiary | -1,399,000 | -2,169,000 | -2,164,000 |
Gain on Sales of Investment Securities | -35,000 | ||
Other, net | -34,965,000 | 4,000 | |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -32,107,000 | 2,091,000 | 2,053,000 |
INVESTING ACTIVITIES | |||
Purchases of Securities | -110,000 | -513,000 | |
Proceeds from Sales of Securities | 82,000 | ||
NET CASH USED IN INVESTING ACTIVITIES | -28,000 | -513,000 | |
FINANCING ACTIVITIES | |||
Cash Dividends Paid | -2,333,000 | -2,072,000 | -2,053,000 |
Treasury Stock, Purchases at Cost | -2,896,000 | ||
Issuance of Common Stock | 36,310,000 | ||
Exercise of Stock Options | 206,000 | 343,000 | 381,000 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 31,287,000 | -1,729,000 | -1,672,000 |
(DECREASE) INCREASE IN CASH AND EQUIVALENTS | ($848,000) | ($151,000) | $381,000 |
Note_18_Quarterly_Financial_In2
Note 18 - Quarterly Financial Information (Unaudited) (Details) - Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Results of Operations [Abstract] | |||||||||||
Interest Income | $7,025 | $4,613 | $4,625 | $4,578 | $4,634 | $4,570 | $4,355 | $4,346 | $20,841 | $17,905 | $18,549 |
Interest Expense | 620 | 427 | 443 | 470 | 518 | 548 | 566 | 604 | 1,960 | 2,236 | 3,093 |
Net Interest Income | 6,405 | 4,186 | 4,182 | 4,108 | 4,116 | 4,022 | 3,789 | 3,742 | 18,881 | 15,669 | 15,456 |
Provision for Loan Losses | 100 | 100 | 450 | ||||||||
Net Interest Income after Provision for Loan Losses | 6,405 | 4,186 | 4,182 | 4,108 | 4,116 | 4,022 | 3,789 | 3,642 | 18,881 | 15,569 | 15,006 |
Non Interest Income | 1,465 | 855 | 774 | 724 | 885 | 728 | 857 | 735 | 3,818 | 3,205 | 3,533 |
Non Interest Expense | 5,260 | 4,034 | 4,047 | 3,457 | 3,416 | 3,287 | 3,326 | 3,329 | 16,798 | 13,358 | 13,287 |
Income before Income Tax Expense | 2,610 | 1,007 | 909 | 1,375 | 1,585 | 1,463 | 1,320 | 1,048 | 5,901 | 5,416 | 5,252 |
Income Tax Expense | 875 | 268 | 170 | 296 | 368 | 324 | 280 | 188 | 1,609 | 1,160 | 1,035 |
Net Income | $1,735 | $739 | $739 | $1,079 | $1,217 | $1,139 | $1,040 | $860 | $4,292 | $4,256 | $4,217 |
Earnings Per Share - Basic (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.73 | $1.73 |
Earnings Per Share - Diluted (in Dollars per share) | $0.50 | $0.32 | $0.31 | $0.46 | $0.49 | $0.46 | $0.42 | $0.35 | $1.63 | $1.72 | $1.70 |
Dividends Per Share (in Dollars per share) | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 |