Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 08, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'NORTH VALLEY BANCORP | ' |
Entity Central Index Key | '0000353191 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 6,836,632 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $23,780 | $22,654 |
Federal funds sold | 2,345 | 15,865 |
Total cash and cash equivalents | 26,125 | 38,519 |
Time deposits at other financial institutions | 2,219 | 2,219 |
Investment securities available-for-sale, at fair value | 293,627 | 285,815 |
Investment securities held-to-maturity, at amortized cost | 6 | 6 |
Loans | 509,092 | 492,211 |
Less: Allowance for loan losses | -9,312 | -10,458 |
Net loans | 499,780 | 481,753 |
Premises and equipment, net | 8,572 | 9,181 |
Accrued interest receivable | 2,166 | 2,217 |
Other real estate owned | 15,045 | 22,423 |
FHLB and FRB stock and other nonmarketable securities | 8,402 | 8,313 |
Bank-owned life insurance policies | 36,941 | 36,045 |
Core deposit intangibles, net | 146 | 255 |
Other assets | 19,418 | 15,597 |
TOTAL ASSETS | 912,447 | 902,343 |
Deposits: | ' | ' |
Noninterest-bearing | 184,471 | 177,855 |
Interest-bearing | 595,299 | 590,725 |
Total deposits | 779,770 | 768,580 |
Accrued interest payable and other liabilities | 15,952 | 15,951 |
Subordinated debentures | 21,651 | 21,651 |
Total liabilities | 817,373 | 806,182 |
Commitments and contingencies | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Preferred stock, no par value: authorized 5,000,000 shares; no shares outstanding at September 30, 2013 and December 31, 2012 | ' | ' |
Common stock, no par value: authorized 60,000,000 shares; outstanding 6,836,632 and 6,835,192 at September 30, 2013 and December 31, 2012, respectively | 98,817 | 98,495 |
Accumulated deficit | -1,265 | -4,000 |
Accumulated other comprehensive (loss) income, net of tax | -2,478 | 1,666 |
Total stockholders' equity | 95,074 | 96,161 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $912,447 | $902,343 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, no par value (in dollars per share) | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | ' | ' |
Common stock, no par value (in dollars per share) | ' | ' |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares outstanding | 6,836,632 | 6,835,192 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income | ' | ' | ' | ' |
Loans, including fees | $6,462 | $6,663 | $19,244 | $19,457 |
Taxable securities | 1,597 | 1,622 | 4,438 | 5,532 |
Tax exempt securities | 103 | 131 | 298 | 411 |
Federal funds sold and repurchase agreements | 3 | 10 | 34 | 55 |
Total interest income | 8,165 | 8,426 | 24,014 | 25,455 |
Interest expense | ' | ' | ' | ' |
Deposits | 257 | 462 | 825 | 1,800 |
Other borrowed funds | ' | 8 | 1 | 8 |
Subordinated debentures | 134 | 243 | 400 | 1,213 |
Total interest expense | 391 | 713 | 1,226 | 3,021 |
Net interest income | 7,774 | 7,713 | 22,788 | 22,434 |
Provision for loan losses | ' | 700 | ' | 2,100 |
Net interest income after provision for loan losses | 7,774 | 7,013 | 22,788 | 20,334 |
Noninterest income | ' | ' | ' | ' |
Service charges on deposit accounts | 959 | 1,086 | 2,882 | 3,274 |
Other fees and charges | 1,152 | 1,102 | 3,380 | 3,620 |
Earnings on cash surrender value of life insurance policies | 343 | 340 | 1,125 | 1,023 |
Gain on sale of loans, net | 596 | 769 | 2,441 | 1,858 |
Gain on sales or calls of securities, net | 5 | 697 | 548 | 1,656 |
Other | 154 | 210 | 813 | 719 |
Total noninterest income | 3,209 | 4,204 | 11,189 | 12,150 |
Noninterest expense | ' | ' | ' | ' |
Salaries and employee benefits | 5,084 | 5,005 | 15,323 | 15,113 |
Occupancy expense | 629 | 651 | 1,877 | 1,911 |
Furniture and equipment expense | 223 | 237 | 645 | 709 |
FDIC and state assessments | 207 | 212 | 638 | 701 |
Other real estate owned expense | 1,226 | 817 | 2,592 | 1,793 |
Other | 2,667 | 2,837 | 8,785 | 8,416 |
Total noninterest expenses | 10,036 | 9,759 | 29,860 | 28,643 |
Income before provision (benefit) for income taxes | 947 | 1,458 | 4,117 | 3,841 |
Provision (benefit) for income taxes | 367 | -2,546 | 1,382 | -1,904 |
Net income | $580 | $4,004 | $2,735 | $5,745 |
Earnings per share | ' | ' | ' | ' |
Basic and diluted income per share (in dollars per share) | $0.08 | $0.59 | $0.40 | $0.84 |
CONSOLIDATED_STATEMENTS_COMPRE
CONSOLIDATED STATEMENTS COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $580 | $4,004 | $2,735 | $5,745 |
Unrealized gains (losses) on securities: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | 2,674 | 1,471 | -7,843 | 5,279 |
Tax effect | -1,096 | -603 | 3,216 | -2,164 |
Reclassification adjustment for gains included in gain on sales or calls of securities, net | -5 | -697 | -548 | -1,656 |
Provision for income taxes | 2 | 286 | 225 | 679 |
Net of tax | 1,575 | 457 | -4,950 | 2,138 |
Defined benefit pension plans | ' | ' | ' | ' |
Net gain arising during the period | ' | 34 | 1,146 | 103 |
Tax effect | ' | -14 | -470 | -42 |
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits | 72 | ' | 220 | ' |
Benefit for income taxes | -30 | ' | -90 | ' |
Net of tax | 42 | 20 | 806 | 61 |
Total other comprehensive income (loss) | 1,617 | 477 | -4,144 | 2,199 |
Comprehensive income (loss) | $2,197 | $4,481 | ($1,409) | $7,944 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $2,735 | $5,745 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 760 | 808 |
Amortization of premium on securities, net | 1,320 | 1,616 |
Amortization of core deposit intangible | 109 | 109 |
Provision for loan losses | ' | 2,100 |
Net losses on sale and write-down of other real estate owned | 2,273 | 1,487 |
Gain on sale of loans | -2,441 | -1,858 |
Gain on sales or calls of securities | -548 | -1,656 |
(Gain) loss on sale of premises and equipment | -73 | 1 |
Stock-based compensation expense | 322 | 158 |
Effect of changes in: | ' | ' |
Accrued interest receivable | 51 | 261 |
Other assets | -1,837 | -4,634 |
Accrued interest payable and other liabilities | 1,854 | -1,838 |
Proceeds from sales of loan originated for sale | 69,922 | 64,882 |
Loans originated for sale | -70,514 | -65,509 |
Net cash provided by operating activities | 3,933 | 1,672 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Purchases of time deposits at other financial institutions | ' | -251 |
Purchases of available-for-sale securities | -91,054 | -142,049 |
Proceeds from sales/calls of available-for-sale securities | 18,700 | 110,579 |
Proceeds from maturities of available-for-sale securities | 55,380 | 48,314 |
Purchases of FHLB and FRB stock and other securities | -89 | -269 |
Purchases of jumbo residential mortgages | ' | -33,325 |
Net increase in loans | -15,812 | -8,688 |
Proceeds from sales of other real estate owned | 5,436 | 4,414 |
Purchases of premises and equipment | -375 | -1,451 |
Proceeds from sales of premises and equipment | 297 | ' |
Net cash used in investing activities | -27,517 | -22,726 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Net increase (decrease) in deposits | 11,190 | -7,763 |
Net change in other borrowed funds | ' | -10,310 |
Net cash provided by (used in) financing activities | 11,190 | -18,073 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | -12,394 | -39,127 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 38,519 | 58,968 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 26,125 | 19,841 |
Cash paid during the year for: | ' | ' |
Interest | 1,252 | 7,874 |
Income taxes paid | 670 | 122 |
Noncash investing and financing activities: | ' | ' |
Transfer from loans to other real estate owned | $818 | $7,484 |
NOTE_1_BASIS_OF_PRESENTATION
NOTE 1 - BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ' |
BASIS OF PRESENTATION | ' |
NOTE 1 – BASIS OF PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements of North Valley Bancorp and subsidiaries (the “Company”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, certain information and notes required by accounting principles generally accepted in the United States for annual financial statements are not included herein. Management believes that the disclosures are adequate to make the information not misleading. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) considered necessary for a fair presentation of the results for the interim periods presented have been included. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any subsequent period or for the year ended December 31, 2013. | |
The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries North Valley Bank, a California banking corporation (“NVB”) and North Valley Trading Company, a California corporation, which is inactive. Significant intercompany items and transactions have been eliminated in consolidation. The Company owns the common stock of three business trusts that have issued trust preferred securities fully and unconditionally guaranteed by the Company. North Valley Capital Trust II, North Valley Capital Trust III and North Valley Capital Statutory Trust IV are unconsolidated subsidiaries and have issued an aggregate of $21,651,000 in trust preferred securities, which are reflected as debt on the Company’s condensed consolidated balance sheets. | |
The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Management has determined that since all of the banking products and services offered by the Company are available in each branch of NVB, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate NVB branches and report them as a single operating segment. No single customer accounts for more than ten percent of revenues for the Company or NVB. |
NOTE_2_INVESTMENT_SECURITIES
NOTE 2 - INVESTMENT SECURITIES | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
INVESTMENT SECURITIES | ' | ||||||||||||||||||||||||
NOTE 2 – INVESTMENT SECURITIES | |||||||||||||||||||||||||
The amortized cost of securities and their approximate fair value were as follows (in thousands): | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 19,669 | $ | — | $ | (991 | ) | $ | 18,678 | ||||||||||||||||
Obligations of state and political subdivisions | 6,692 | 192 | (31 | ) | 6,853 | ||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 261,085 | 3,566 | (4,308 | ) | 260,343 | ||||||||||||||||||||
Corporate debt securities | 6,000 | — | (1,230 | ) | 4,770 | ||||||||||||||||||||
Equity securities | 3,000 | — | (17 | ) | 2,983 | ||||||||||||||||||||
$ | 296,446 | $ | 3,758 | $ | (6,577 | ) | $ | 293,627 | |||||||||||||||||
Held-to-Maturity: | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 6 | $ | — | $ | — | $ | 6 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 21,003 | $ | 115 | $ | — | $ | 21,118 | |||||||||||||||||
Obligations of state and political subdivisions | 10,698 | 499 | — | 11,197 | |||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 239,543 | 6,152 | (64 | ) | 245,631 | ||||||||||||||||||||
Corporate debt securities | 6,000 | — | (1,244 | ) | 4,756 | ||||||||||||||||||||
Equity securities | 3,000 | 113 | — | 3,113 | |||||||||||||||||||||
$ | 280,244 | $ | 6,879 | $ | (1,308 | ) | $ | 285,815 | |||||||||||||||||
Held-to-Maturity: | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 6 | $ | — | $ | — | $ | 6 | |||||||||||||||||
For the three months ended September 30, 2013 and 2012 there were $5,000 and $697,000, respectively, in gross realized gains on sales or calls of available for sale securities. For the three months ended September 30, 2013 and 2012 there were no gross realized losses on sales or calls of securities categorized as available for sale securities. For the three months ended September 30, 2013 and 2012 there were $1,615,000 and $32,140,000 in gross proceeds from sales or calls of available for sale securities. There were no sales or transfers of held to maturity securities for the three months ended September 30, 2013 and 2012. For the three months ended September 30, 2013 and 2012, there were no gross proceeds from maturities or calls of held to maturity securities. | |||||||||||||||||||||||||
For the nine months ended September 30, 2013 and 2012 there were $548,000 and $1,665,000, respectively, in gross realized gains on sales or calls of available for sale securities. For the nine months ended September 30, 2013 there were no gross realized losses on sales or calls of securities categorized as available for sale securities. For the nine months ended September 30, 2012 there were $9,000 in gross realized losses on sales or calls of securities categorized as available for sale securities. For the nine months ended September 30, 2013 and 2012 there were $18,700,000 and $110,579,000, respectively, in gross proceeds from sales or calls of available for sale securities. There were no sales or transfers of held to maturity securities for the nine months ended September 30, 2013 and 2012. For the nine months ended September 30, 2013 and 2012, there were no gross proceeds from maturities or calls of held to maturity securities. Expected maturities of all investment securities are consistent with those reported in the December 31, 2012 Form 10-K. | |||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, securities having fair value amounts of approximately $285,444,000 and $276,308,000, respectively, were pledged to secure public deposits, short-term borrowings, treasury, tax and loan balances and for other purposes required by law or contract. The Company pledges most of its securities at the Federal Home Loan Bank (“FHLB”) to provide borrowing capacity. See “Liquidity” on page 44. | |||||||||||||||||||||||||
Investment securities are evaluated for other-than-temporary impairment on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value below amortized cost is other-than-temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the issues for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other-than-temporary. The term “other-than-temporary” is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other-than-temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. For debt securities, the credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | |||||||||||||||||||||||||
A summary of investments securities in an unrealized loss for less than twelve months and twelve months or longer is as follows (in thousands). | |||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 18,678 | $ | (991 | ) | $ | — | $ | — | 18,678 | (991 | ) | |||||||||||||
Obligations of state and political subdivisions | 1,151 | (31 | ) | — | — | 1,151 | (31 | ) | |||||||||||||||||
Government sponsored agency mortgage-backed securities | 138,511 | (4,308 | ) | — | — | 138,511 | (4,308 | ) | |||||||||||||||||
Corporate debt securities | — | — | 4,770 | (1,230 | ) | 4,770 | (1,230 | ) | |||||||||||||||||
Equity securities | 2,983 | (17 | ) | — | — | 2,983 | (17 | ) | |||||||||||||||||
Total impaired securities | $ | 161,323 | $ | (5,347 | ) | $ | 4,770 | $ | (1,230 | ) | $ | 166,093 | $ | (6,577 | ) | ||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 34,878 | $ | (64 | ) | $ | — | $ | — | $ | 34,878 | $ | (64 | ) | |||||||||||
Corporate debt securities | — | — | 4,756 | (1,244 | ) | 4,756 | (1,244 | ) | |||||||||||||||||
Total impaired securities | $ | 34,878 | $ | (64 | ) | $ | 4,756 | $ | (1,244 | ) | $ | 39,634 | $ | (1,308 | ) | ||||||||||
As of September 30, 2013 and December 31, 2012, there were two corporate debt securities in a loss position for twelve months or more. There is a current active market for these securities and management believes that the unrealized losses on the Company’s investment in these corporate debt securities is due to the yield of the securities and is not attributable to changes in credit quality. The two corporate debt securities are each a $3,000,000 single-issuer trust preferred security issued by two separate large publicly-traded financial institutions. The securities are tied to the front-end of the yield curve, three-month LIBOR (a short-term interest rate) and have a spread over that. In addition, the payments on both of these securities have been made as agreed and are considered current. The Company does not intend to sell and does not believe it will be required to sell these securities and expects a full recovery of value. The Company did not consider these investments to be other-than-temporarily impaired at September 30, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Management periodically evaluates each investment security for other-than-temporary impairment, relying primarily on industry analyst reports, observation of market conditions and interest rate fluctuations. Management has the ability and intent to hold securities with established maturity dates until recovery of fair value, which may be at maturity, and believes it will be able to collect all amounts due according to the contractual terms for all of the underlying investment securities; therefore, management does not consider these investments to be other-than-temporarily impaired. |
NOTE_3_LOANS
NOTE 3 - LOANS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Loans Receivable, Net [Abstract] | ' | ||||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||||
NOTE 3 – LOANS | |||||||||||||||||||||||||
The Company originates loans for business, consumer and real estate activities and for equipment purchases. Such loans are concentrated in the Company’s market areas which consist of Yolo, Placer, Sonoma, Shasta, Humboldt, Mendocino, Trinity and Del Norte Counties and neighboring communities. Major classifications of loans were as follows (in thousands): | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Commercial | $ | 48,903 | $ | 46,078 | |||||||||||||||||||||
Real estate - commercial | 328,967 | 295,630 | |||||||||||||||||||||||
Real estate - construction | 19,281 | 23,003 | |||||||||||||||||||||||
Real estate - mortgage | 65,790 | 74,353 | |||||||||||||||||||||||
Installment | 5,560 | 6,689 | |||||||||||||||||||||||
Other | 40,771 | 45,941 | |||||||||||||||||||||||
Gross loans | 509,272 | 491,694 | |||||||||||||||||||||||
Deferred loan (fees) costs, net | (180 | ) | 517 | ||||||||||||||||||||||
Allowance for loan losses | (9,312 | ) | (10,458 | ) | |||||||||||||||||||||
Total loans, net | $ | 499,780 | $ | 481,753 | |||||||||||||||||||||
Certain real estate loans receivable are pledged as collateral for available borrowings with the FHLB, FRB, and certain correspondent banks. Pledged loans totaled $95,107,000 and $116,929,000 at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||
The following table presents impaired loans and the related allowance for loan losses as of the dates indicated (in thousands): | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||
With no allocated allowance | |||||||||||||||||||||||||
Commercial | $ | 566 | $ | 587 | $ | — | $ | 585 | $ | 586 | $ | — | |||||||||||||
Real estate - commercial | 4,283 | 4,348 | — | 2,778 | 2,974 | — | |||||||||||||||||||
Real estate - construction | 843 | 864 | — | 1,210 | 1,273 | — | |||||||||||||||||||
Real estate - mortgage | 1,171 | 1,194 | — | 684 | 736 | — | |||||||||||||||||||
Installment | 110 | 127 | — | 122 | 138 | — | |||||||||||||||||||
Other | 311 | 326 | — | 111 | 120 | — | |||||||||||||||||||
Subtotal | 7,284 | 7,446 | — | 5,490 | 5,827 | — | |||||||||||||||||||
With allocated allowance | |||||||||||||||||||||||||
Commercial | 16 | 16 | 16 | — | — | — | |||||||||||||||||||
Real estate - commercial | — | — | — | 184 | 217 | 171 | |||||||||||||||||||
Real estate - construction | — | — | — | 161 | 161 | 18 | |||||||||||||||||||
Real estate - mortgage | 164 | 164 | 164 | — | — | — | |||||||||||||||||||
Subtotal | 180 | 180 | 180 | 345 | 378 | 189 | |||||||||||||||||||
Total Impaired Loans | $ | 7,464 | $ | 7,626 | $ | 180 | $ | 5,835 | $ | 6,205 | $ | 189 | |||||||||||||
The following table presents the average balance and interest income recognized related to impaired loans for the period indicated (in thousands): | |||||||||||||||||||||||||
For the three months ended September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Average Book | Interest Income | Average Book | Interest Income | ||||||||||||||||||||||
Balance | Recognized | Balance | Recognized | ||||||||||||||||||||||
Commercial | $ | 372 | $ | — | $ | 938 | $ | — | |||||||||||||||||
Real estate - commercial | 4,704 | 21 | 7,780 | — | |||||||||||||||||||||
Real estate - construction | 869 | 6 | 1,766 | — | |||||||||||||||||||||
Real estate - mortgage | 1,393 | 13 | 986 | — | |||||||||||||||||||||
Installment | 138 | — | 123 | — | |||||||||||||||||||||
Other | 327 | — | 277 | — | |||||||||||||||||||||
Total | $ | 7,803 | $ | 40 | $ | 11,870 | $ | — | |||||||||||||||||
For the nine months ended September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Average Book | Interest Income | Average Book | Interest Income | ||||||||||||||||||||||
Balance | Recognized | Balance | Recognized | ||||||||||||||||||||||
Commercial | $ | 430 | $ | — | $ | 1,043 | $ | — | |||||||||||||||||
Real estate - commercial | 4,722 | 35 | 7,942 | — | |||||||||||||||||||||
Real estate - construction | 874 | 19 | 1,780 | — | |||||||||||||||||||||
Real estate - mortgage | 1,404 | 33 | 1,006 | — | |||||||||||||||||||||
Installment | 140 | — | 133 | — | |||||||||||||||||||||
Other | 330 | — | 287 | — | |||||||||||||||||||||
Total | $ | 7,900 | $ | 87 | $ | 12,191 | $ | — | |||||||||||||||||
Nonperforming loans include all such loans that are either on nonaccrual status or are 90 days past due as to principal or interest but still accrue interest because such loans are well-secured and in the process of collection. Nonperforming loans are summarized as follows (in thousands): | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Nonaccrual loans | $ | 5,216 | $ | 5,835 | |||||||||||||||||||||
Loans 90 days past due or more but still accruing interest | — | — | |||||||||||||||||||||||
Total nonperforming loans | $ | 5,216 | $ | 5,835 | |||||||||||||||||||||
Nonaccrual loans to total gross loans | 1.02 | % | 1.19 | % | |||||||||||||||||||||
Nonperforming loans to total gross loans | 1.02 | % | 1.19 | % | |||||||||||||||||||||
If interest on nonaccrual loans had been accrued, such income would have approximated $36,000 and $138,000 for the three months ended September 30, 2013 and 2012, respectively. If interest on nonaccrual loans had been accrued, such income would have approximated $171,000 and $495,000 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||
The following table shows an aging analysis of the loan portfolio by the amount of time past due (in thousands): | |||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Accruing Interest | |||||||||||||||||||||||||
Greater than | |||||||||||||||||||||||||
30-89 Days | 90 Days | ||||||||||||||||||||||||
Current | Past Due | Past Due | Nonaccrual | Total | |||||||||||||||||||||
Commercial | $ | 48,168 | $ | 153 | $ | — | $ | 582 | $ | 48,903 | |||||||||||||||
Real estate - commercial | 325,503 | 73 | — | 3,391 | 328,967 | ||||||||||||||||||||
Real estate - construction | 18,843 | — | — | 438 | 19,281 | ||||||||||||||||||||
Real estate - mortgage | 64,766 | 612 | — | 412 | 65,790 | ||||||||||||||||||||
Installment | 5,469 | 9 | — | 82 | 5,560 | ||||||||||||||||||||
Other | 40,434 | 26 | — | 311 | 40,771 | ||||||||||||||||||||
Total | $ | 503,183 | $ | 873 | $ | — | $ | 5,216 | $ | 509,272 | |||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Accruing Interest | |||||||||||||||||||||||||
Greater than | |||||||||||||||||||||||||
30-89 Days | 90 Days | ||||||||||||||||||||||||
Current | Past Due | Past Due | Nonaccrual | Total | |||||||||||||||||||||
Commercial | $ | 45,473 | $ | 20 | $ | — | $ | 585 | $ | 46,078 | |||||||||||||||
Real estate - commercial | 292,505 | 163 | — | 2,962 | 295,630 | ||||||||||||||||||||
Real estate - construction | 21,436 | 196 | — | 1,371 | 23,003 | ||||||||||||||||||||
Real estate - mortgage | 72,907 | 762 | — | 684 | 74,353 | ||||||||||||||||||||
Installment | 6,529 | 38 | — | 122 | 6,689 | ||||||||||||||||||||
Other | 45,581 | 249 | — | 111 | 45,941 | ||||||||||||||||||||
Total | $ | 484,431 | $ | 1,428 | $ | — | $ | 5,835 | $ | 491,694 | |||||||||||||||
A troubled debt restructuring (“TDRs”) is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. | |||||||||||||||||||||||||
At September 30, 2013, accruing TDRs were $2,248,000 and nonaccrual TDRs were $952,000 compared to accruing TDRs of $2,414,000 and nonaccrual TDRs of $1,072,000 at December 31, 2012. At September 30, 2013, there were no specific reserves allocated to customers whose loan terms were modified in troubled debt restructurings. There are no commitments to lend additional amounts at September 30, 2013 to customers with outstanding loans that are classified as troubled debt restructurings. There were no TDRs that subsequently defaulted during the twelve months following the modification of terms. | |||||||||||||||||||||||||
The following table presents loans that were modified and recorded as TDRs for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||
Commercial | 2 | $ | 140 | $ | 140 | — | $ | — | $ | — | |||||||||||||||
Real estate - construction | 1 | $ | 114 | $ | 114 | — | $ | — | $ | — | |||||||||||||||
Real estate - mortgage | 1 | $ | 116 | $ | 116 | 1 | $ | 425 | $ | 425 | |||||||||||||||
Other | — | $ | — | $ | — | 1 | $ | 26 | $ | 26 | |||||||||||||||
Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||
Commercial | 3 | $ | 181 | $ | 181 | 1 | $ | 800 | $ | 800 | |||||||||||||||
Real estate - commercial | 1 | $ | 438 | $ | 438 | 2 | $ | 269 | $ | 269 | |||||||||||||||
Real estate - construction | 1 | $ | 114 | $ | 114 | — | $ | — | $ | — | |||||||||||||||
Real estate - mortgage | 2 | $ | 326 | $ | 326 | 1 | $ | 425 | $ | 425 | |||||||||||||||
Installment | — | $ | — | $ | — | 2 | $ | 70 | $ | 70 | |||||||||||||||
Other | 1 | $ | 47 | $ | 47 | 1 | $ | 26 | $ | 26 | |||||||||||||||
A summary of TDRs by type of concession and by type of loan as of September 30, 2013 and December 31, 2012, is shown below: | |||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Accruing TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Real estate - commercial | 5 | $ | — | $ | 197 | $ | 696 | $ | 893 | ||||||||||||||||
Real estate - construction | 2 | $ | — | $ | 405 | $ | — | $ | 405 | ||||||||||||||||
Real estate - mortgage | 3 | $ | — | $ | 294 | $ | 628 | $ | 922 | ||||||||||||||||
Installment | 1 | $ | — | $ | — | $ | 28 | $ | 28 | ||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Nonaccrual TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Commercial | 4 | $ | 16 | $ | — | $ | 566 | $ | 582 | ||||||||||||||||
Real estate - commercial | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate - construction | 1 | $ | — | $ | 114 | $ | — | $ | 114 | ||||||||||||||||
Real estate - mortgage | 1 | $ | — | $ | — | $ | 116 | $ | 116 | ||||||||||||||||
Installment | 3 | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||||||
Other | 2 | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Accruing TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Real estate - commercial | 5 | $ | 202 | $ | — | $ | 1,148 | $ | 1,350 | ||||||||||||||||
Real estate - construction | 1 | $ | — | $ | 343 | $ | — | $ | 343 | ||||||||||||||||
Real estate - mortgage | 2 | $ | — | $ | 298 | $ | 423 | $ | 721 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Nonaccrual TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Commercial | 1 | $ | — | $ | — | $ | 529 | $ | 529 | ||||||||||||||||
Real estate-construction | 2 | $ | 327 | $ | 71 | $ | — | $ | 398 | ||||||||||||||||
Installment | 4 | $ | — | $ | — | $ | 120 | $ | 120 | ||||||||||||||||
Other | 1 | $ | — | $ | — | $ | 25 | $ | 25 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS
NOTE 4 - ALLOWANCE FOR LOAN LOSSES | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | ||||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | ' | ||||||||||||||||||||||||||||||||
NOTE 4 – ALLOWANCE FOR LOAN LOSSES | |||||||||||||||||||||||||||||||||
The following table shows the changes in the allowance for loan losses (in thousands): | |||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance June 30, 2013 | $ | 847 | $ | 5,487 | $ | 439 | $ | 920 | $ | 167 | $ | 920 | $ | 747 | $ | 9,527 | |||||||||||||||||
Charge-offs | (22 | ) | — | (20 | ) | (34 | ) | (40 | ) | (174 | ) | (290 | ) | ||||||||||||||||||||
Recoveries | 18 | 48 | — | 1 | 8 | — | 75 | ||||||||||||||||||||||||||
Provisions for loan losses | (93 | ) | 138 | 16 | (23 | ) | 15 | 110 | (163 | ) | — | ||||||||||||||||||||||
Balance September 30, 2013 | $ | 750 | $ | 5,673 | $ | 435 | $ | 864 | $ | 150 | $ | 856 | $ | 584 | $ | 9,312 | |||||||||||||||||
For the three months ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance June 30, 2012 | $ | 1,260 | $ | 6,586 | $ | 1,387 | $ | 925 | $ | 141 | $ | 768 | $ | 665 | $ | 11,732 | |||||||||||||||||
Charge-offs | (250 | ) | (113 | ) | (492 | ) | (143 | ) | (48 | ) | (48 | ) | (1,094 | ) | |||||||||||||||||||
Recoveries | 13 | — | 43 | 1 | 29 | 3 | 89 | ||||||||||||||||||||||||||
Provisions for loan losses | (261 | ) | 435 | (23 | ) | 422 | — | 60 | 67 | 700 | |||||||||||||||||||||||
Balance September 30, 2012 | $ | 762 | $ | 6,908 | $ | 915 | $ | 1,205 | $ | 122 | $ | 783 | $ | 732 | $ | 11,427 | |||||||||||||||||
For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance December 31, 2012 | $ | 843 | $ | 6,295 | $ | 690 | $ | 982 | $ | 98 | $ | 721 | $ | 829 | $ | 10,458 | |||||||||||||||||
Charge-offs | (131 | ) | (438 | ) | (389 | ) | (236 | ) | (68 | ) | (229 | ) | (1,491 | ) | |||||||||||||||||||
Recoveries | 276 | 46 | 3 | 3 | 17 | — | 345 | ||||||||||||||||||||||||||
Provisions for loan losses | (238 | ) | (230 | ) | 131 | 115 | 103 | 364 | (245 | ) | — | ||||||||||||||||||||||
Balance September 30, 2013 | $ | 750 | $ | 5,673 | $ | 435 | $ | 864 | $ | 150 | $ | 856 | $ | 584 | $ | 9,312 | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | 16 | $ | — | $ | — | $ | 164 | $ | — | $ | — | $ | — | $ | 180 | |||||||||||||||||
Reserve to non-impaired loans | $ | 734 | $ | 5,673 | $ | 435 | $ | 700 | $ | 150 | $ | 856 | $ | 584 | $ | 9,132 | |||||||||||||||||
For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance December 31, 2011 | $ | 1,333 | $ | 7,528 | $ | 1,039 | $ | 935 | $ | 185 | $ | 736 | $ | 900 | $ | 12,656 | |||||||||||||||||
Charge-offs | (456 | ) | (1,730 | ) | (822 | ) | (333 | ) | (190 | ) | (120 | ) | (3,651 | ) | |||||||||||||||||||
Recoveries | 39 | 63 | 80 | 37 | 94 | 9 | 322 | ||||||||||||||||||||||||||
Provisions for loan losses | (154 | ) | 1,047 | 618 | 566 | 33 | 158 | (168 | ) | 2,100 | |||||||||||||||||||||||
Balance September 30, 2012 | $ | 762 | $ | 6,908 | $ | 915 | $ | 1,205 | $ | 122 | $ | 783 | $ | 732 | $ | 11,427 | |||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | — | $ | 417 | $ | — | $ | 50 | $ | — | $ | — | $ | 467 | |||||||||||||||||||
Reserve to non-impaired loans | $ | 762 | $ | 6,491 | $ | 915 | $ | 1,155 | $ | 122 | $ | 783 | $ | 732 | $ | 10,960 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | — | $ | 171 | $ | 18 | $ | — | $ | — | $ | — | $ | 189 | |||||||||||||||||||
Reserve to non-impaired loans | $ | 843 | $ | 6,124 | $ | 672 | $ | 982 | $ | 98 | $ | 721 | $ | 829 | $ | 10,269 | |||||||||||||||||
The following table shows the loan portfolio by segment as follows (in thousands): | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Total | |||||||||||||||||||||||||||
Total Loans | $ | 48,903 | $ | 328,967 | $ | 19,281 | $ | 65,790 | $ | 5,560 | $ | 40,771 | $ | 509,272 | |||||||||||||||||||
Impaired Loans | $ | 582 | $ | 4,283 | $ | 843 | $ | 1,335 | $ | 110 | $ | 311 | $ | 7,464 | |||||||||||||||||||
Non-impaired loans | $ | 48,321 | $ | 324,684 | $ | 18,438 | $ | 64,455 | $ | 5,450 | $ | 40,460 | $ | 501,808 | |||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Total | |||||||||||||||||||||||||||
Total Loans | $ | 46,078 | $ | 295,630 | $ | 23,003 | $ | 74,353 | $ | 6,689 | $ | 45,941 | $ | 491,694 | |||||||||||||||||||
Impaired Loans | $ | 585 | $ | 2,962 | $ | 1,371 | $ | 684 | $ | 122 | $ | 111 | $ | 5,835 | |||||||||||||||||||
Non-impaired loans | $ | 45,493 | $ | 292,668 | $ | 21,632 | $ | 73,669 | $ | 6,567 | $ | 45,830 | $ | 485,859 | |||||||||||||||||||
The following table shows the loan portfolio allocated by management’s internal risk ratings as defined in Footnote 1 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Commercial | $ | 47,201 | $ | 726 | $ | 976 | $ | — | $ | 48,903 | |||||||||||||||||||||||
Real estate - commercial | 315,132 | 3,238 | 10,597 | — | 328,967 | ||||||||||||||||||||||||||||
Real estate - construction | 18,843 | — | 438 | — | 19,281 | ||||||||||||||||||||||||||||
Real estate - mortgage | 64,750 | — | 1,040 | — | 65,790 | ||||||||||||||||||||||||||||
Installment | 5,448 | — | 112 | — | 5,560 | ||||||||||||||||||||||||||||
Other | 40,263 | — | 508 | — | 40,771 | ||||||||||||||||||||||||||||
Total | $ | 491,637 | $ | 3,964 | $ | 13,671 | $ | — | $ | 509,272 | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Commercial | $ | 44,486 | $ | 129 | $ | 1,463 | $ | — | $ | 46,078 | |||||||||||||||||||||||
Real estate - commercial | 278,834 | — | 16,796 | — | 295,630 | ||||||||||||||||||||||||||||
Real estate - construction | 21,386 | — | 1,617 | — | 23,003 | ||||||||||||||||||||||||||||
Real estate - mortgage | 71,973 | — | 2,380 | — | 74,353 | ||||||||||||||||||||||||||||
Installment | 6,562 | — | 127 | — | 6,689 | ||||||||||||||||||||||||||||
Other | 45,658 | — | 283 | — | 45,941 | ||||||||||||||||||||||||||||
Total | $ | 468,899 | $ | 129 | $ | 22,666 | $ | — | $ | 491,694 | |||||||||||||||||||||||
The allowance for loan losses is established through a provision for loan losses based on management’s evaluation of the probable incurred losses in the loan portfolio. In determining levels of risk, management considers a variety of factors, including, but not limited to, asset classifications, economic trends, industry experience and trends, geographic concentrations, estimated collateral values, historical loan loss experience, and the Company’s underwriting policies. During the second quarter of 2013, there was a change in the Bank’s method of calculating the historical loss factors applied to loans identified as “homogenous segments” of the loan portfolio as follows: Losses from the past twelve quarters are applied to loan pools based on a “Migration Analysis” method. The method calculates Net Charge Offs (charge offs less corresponding recoveries) and measures them against average balances in loan pools based on the risk grade in effect on charged-off loans four quarters prior to the actual charge off date. The logic behind this four quarter “look back” is to account for management’s estimate of the typical time lapse between the recognition of the problem loan and the recognition of some or all of the loan as uncollectable. In addition, the loss ratios are calculated using “factored” logic which systematically reduces the Net Charge Off value so that charge offs occurring in older periods do not have as much weight as more recent charge offs. Management of the Company believes that, given the recent trends in historical losses and the correlation of those losses with a loans identified risk grade, that incorporation of a migration analysis in the current and future analyses was a prudent refinement of the allowance methodology. In addition, management believes that the decreases in the overall level of the allowance for loan losses over the past several quarters is directionally consistent with the improving credit quality trends of the loan portfolio. The allowance for loan losses is maintained at an amount management considers adequate to cover the probable incurred losses in loans receivable. While management uses the best information available to make these estimates, future adjustments to allowances may be necessary due to economic, operating, regulatory, and other conditions that may be beyond the Company’s control. The Company also engages a third party credit review consultant to analyze the Company’s loan loss adequacy periodically. In addition, the regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize additions to the allowance based on judgments different from those of management. | |||||||||||||||||||||||||||||||||
The allowance for loan losses is comprised of several components including the specific, formula and unallocated allowance relating to loans in the loan portfolio. Our methodology for determining the allowance for loan losses consists of several key elements, which include: | |||||||||||||||||||||||||||||||||
● | Specific Allowances. A specific allowance is established when management has identified unique or particular risks that were related to a specific loan that demonstrated risk characteristics consistent with impairment. Specific allowances are established when management can estimate the amount of an impairment of a loan. | ||||||||||||||||||||||||||||||||
● | Formula Allowance. The formula allowance is calculated using a “Migration Analysis” method as defined above applied to homogenous pools of loans. Changes in risk grades of both performing and nonperforming loans affect the amount of the formula allowance. Loss factors are based on our historical loss experience and such other data as management believes to be pertinent. Management, also, considers a variety of subjective factors, including regional economic and business conditions that impact important segments of our portfolio, loan growth rates, the depth and skill of lending staff, the interest rate environment, and the results of bank regulatory examinations and findings of our internal credit examiners to establish the formula allowance. | ||||||||||||||||||||||||||||||||
● | Unallocated Allowance. The unallocated loan loss allowance represents an amount for imprecision or uncertainty that is inherent in estimates used to determine the allowance. | ||||||||||||||||||||||||||||||||
The Company also maintains a separate allowance for off-balance-sheet commitments. A reserve for unfunded commitments is maintained at a level that, in the opinion of management, is adequate to absorb probable losses associated with commitments to lend funds under existing agreements, for example, the Bank’s commitment to fund advances under lines of credit. The reserve amount for unfunded commitments is determined based on our methodologies described above with respect to the formula allowance. The allowance for off-balance-sheet commitments is included in accrued interest payable and other liabilities on the consolidated balance sheet and was $146,000 and $143,000 for the periods ended September 30, 2013 and December 31, 2012, respectively. |
NOTE_5_OTHER_REAL_ESTATE_OWNED
NOTE 5 - OTHER REAL ESTATE OWNED | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Real Estate [Abstract] | ' | ||||||||||||||||
OTHER REAL ESTATE OWNED | ' | ||||||||||||||||
NOTE 5 – OTHER REAL ESTATE OWNED | |||||||||||||||||
The Company had $15,045,000 and $22,423,000 in other real estate owned (“OREO”) at September 30, 2013 and December 31, 2012, respectively. Below is a table with details of the changes in OREO (in thousands): | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Beginning Balance | $ | 22,423 | $ | 20,106 | |||||||||||||
Properties transferred in | 818 | 12,239 | |||||||||||||||
Sales of property | (5,923 | ) | (6,889 | ) | |||||||||||||
Loss on sale or writedown of property | (2,273 | ) | (3,033 | ) | |||||||||||||
Total | $ | 15,045 | $ | 22,423 | |||||||||||||
Subsequent to September 30, 2013, the Company sold eight OREO properties located in Sonoma County at their recorded value of $9,885,000 which resulted in no additional gain or loss. The transaction closed on October 29, 2013. | |||||||||||||||||
The following table presents the components of OREO expense (in thousands): | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Operating expenses | $ | 85 | $ | 79 | $ | 319 | $ | 306 | |||||||||
Provision for losses | 1,139 | 749 | 2,023 | 1,310 | |||||||||||||
Net, loss (gain) on disposal | 2 | (11 | ) | 250 | 177 | ||||||||||||
Total other real estate owned expense | $ | 1,226 | $ | 817 | $ | 2,592 | $ | 1,793 |
NOTE_6_SUBORDINATED_DEBENTURES
NOTE 6 - SUBORDINATED DEBENTURES | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Subordinated Debt [Abstract] | ' | ||||||||||||||||
SUBORDINATED DEBENTURES | ' | ||||||||||||||||
NOTE 6 – SUBORDINATED DEBENTURES | |||||||||||||||||
The Company owns the common stock of three business trusts that have issued an aggregate of $21.0 million in trust preferred securities fully and unconditionally guaranteed by the Company. The entire proceeds of each respective issuance of trust preferred securities were invested by the separate business trusts into junior subordinated debentures issued by the Company, with identical maturity, repricing and payment terms as the respective issuance of trust preferred securities. The aggregate amount of junior subordinated debentures issued by the Company is $21,651,000, with the maturity dates for the respective debentures ranging from 2033 through 2036. Subject to regulatory approval, the Company may redeem the respective junior subordinated debentures earlier than the maturity date, based on their respective redemption dates. The respective junior subordinated debentures became redeemable in April 2008, July 2009 and March 2011. | |||||||||||||||||
The trust preferred securities issued by the trusts are currently included in Tier 1 capital in the amount of $21,000,000 for purposes of determining Leverage, Tier 1 and Total Risk-Based capital ratios for the periods ending September 30, 2013 and December 31, 2012. | |||||||||||||||||
The following table summarizes the terms of each subordinated debenture issuance for the periods ending September 30, 2013 and December 31, 2012 (dollars in thousands): | |||||||||||||||||
Fixed or | |||||||||||||||||
Date | Variable | Current | Rate | Redemption | |||||||||||||
Series | Issued | Maturity | Rate | Rate | Index | Date | Amount | ||||||||||
North Valley Capital Trust II | 4/10/03 | 4/24/33 | Variable | 3.52% | LIBOR + 3.25% | 4/24/08 | 6,186 | ||||||||||
North Valley Capital Trust III | 5/5/04 | 4/24/34 | Variable | 3.06% | LIBOR + 2.80% | 7/23/09 | 5,155 | ||||||||||
North Valley Capital Statutory Trust IV | 12/29/05 | 3/15/36 | Variable | 1.58% | LIBOR + 1.33% | 3/15/11 | 10,310 | ||||||||||
$ | 21,651 |
NOTE_7_INCOME_TAXES
NOTE 7 - INCOME TAXES | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
NOTE 7 – INCOME TAXES | |
The Company files its income taxes on a consolidated basis with NVB. The allocation of income tax expense (benefit) represents each entity’s proportionate share of the consolidated provision for income taxes. | |
The Company applies the asset and liability method to account for income taxes. Deferred tax assets and liabilities are calculated by applying applicable tax laws to the differences between the financial statement basis and the tax basis of assets and liabilities. The effect on deferred taxes of changes in tax laws and rates is recognized in income in the period that includes the enactment date. On the consolidated balance sheet, net deferred tax assets are included in other assets. | |
The Company accounts for uncertainty in income taxes by recording only tax positions that met the more likely than not recognition threshold, that the tax position would be sustained in a tax examination. | |
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. At September 30, 2013 and December 31, 2012, unrecognized tax benefits totaled $519,000. | |
During the quarter ended September 30, 2012, the Company recorded a $2,546,000 income tax benefit, which was the net result of reversing the state deferred tax asset valuation allowance of $4,277,000 less a $1,347,000 increase in federal deferred tax liabilities against the three and nine months ended September 30, 2012 current period tax expense. The deferred tax asset valuation allowance was established in 2010 due to the Company’s prior net operating losses, its inability to meet its financial projections and because of elevated levels of credit losses. To determine if the benefit of its net deferred tax asset will more likely than not be realized, the Company’s management analyzed both positive and negative evidence that may affect the realization of the deferred tax asset. Management of the Company determined that it was more likely than not that all of its net deferred tax asset would be realized. | |
Net deferred tax assets totaled $15,226,000 and $12,346,000 at September 30, 2013 and December 31, 2012, respectively. |
NOTE_8_PENSION_PLAN_BENEFITS
NOTE 8 - PENSION PLAN BENEFITS | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
PENSION PLAN BENEFITS | ' | ||||||||||||||||
NOTE 8 – PENSION PLAN BENEFITS | |||||||||||||||||
The Company has a supplemental retirement plan for key executives and a supplemental retirement plan for certain retired key executives and directors. These plans are nonqualified defined benefit plans and are unsecured. Total contributions paid were $63,000 for the three months ended September 30, 2013 and 2012. Components of net periodic benefit cost for the Company’s supplemental nonqualified defined benefit plans for the three and nine months ended September 30, 2013 and 2012 are presented in the following table (in thousands): | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
Components of net periodic benefits cost: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 171 | $ | 150 | $ | 512 | $ | 451 | |||||||||
Interest cost | 93 | 84 | 279 | 251 | |||||||||||||
Prior service amortization | 25 | 25 | 74 | 74 | |||||||||||||
Recognized net actuarial loss | 48 | 10 | 146 | 30 | |||||||||||||
Total components of net periodic cost | $ | 337 | $ | 269 | $ | 1,011 | $ | 806 | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Total Liability of Pension Plan Benefits | $ | 8,900 | $ | 9,443 |
NOTE_9_STOCKBASED_COMPENSATION
NOTE 9 - STOCK-BASED COMPENSATION | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||||||
NOTE 9 – STOCK-BASED COMPENSATION | |||||||||||||||||||||
Stock Option Plans | |||||||||||||||||||||
At September 30, 2013, the Company had two shareholder approved stock-based compensation plans: the 1998 Employee Stock Incentive Plan and the 2008 Stock Incentive Plan. A total of 601,925 shares were authorized under all plans at September 30, 2013. The plans do not provide for the settlement of awards in cash and new shares are issued upon exercise of the options. The North Valley Bancorp 1998 Employee Stock Incentive Plan provides for awards in the form of options (which may constitute incentive stock options (“ISOs”) or non-statutory stock options (“NSOs”) to key employees) and also provides for the award of shares of Common Stock to outside directors. As provided in the 1998 Employee Stock Incentive Plan, the authorization to award incentive stock options terminated on February 19, 2008. Pursuant to the 1998 Employee Stock Incentive Plan there were outstanding options to purchase 51,930 shares of Common Stock at September 30, 2013. The North Valley Bancorp 2008 Stock Incentive Plan was adopted by the Company’s Board of Directors on February 27, 2008, effective that date, and was approved by the Company’s shareholders at the annual meeting, May 22, 2008. The terms of the 2008 Stock Incentive Plan are substantially the same as the North Valley Bancorp 1998 Employee Stock Incentive Plan. The 2008 Stock Incentive Plan provides for the grant to key employees of stock options, which may consist of NSOs and ISOs. Under the 2008 Stock Incentive Plan, options may not be granted at a price less than the fair market value at the date of the grant. Under all plans, options may be exercised over a ten year term. The vesting period is generally four years; however the vesting period can be modified at the discretion of the Company’s Board of Directors, and for all options granted after the fourth quarter in 2008 the vesting period is five years. The 2008 Stock Incentive Plan also provides for the grant to outside directors, and to consultants and advisers to the Company, of stock options, all of which must be NSOs. The shares of Common Stock authorized to be granted as options under the 2008 Stock Incentive Plan consist 549,995 shares of Common Stock reserved for issuance under the terms of the 2008 Stock Incentive Plan, consisting of 302,780 shares to be issued upon the exercise of options granted and still outstanding as of that date, 5,580 shares issued as stock awards and 241,635 shares reserved for future stock option grants and director stock awards at September 30, 2013. Effective January 1, 2009, and on each January 1 thereafter for the remaining term of the 2008 Stock Incentive Plan, the aggregate number of shares of Common Stock which are reserved for issuance pursuant to options granted under the terms of the 2008 Stock Incentive Plan shall be increased by a number of shares of Common Stock equal to 2% of the total number of the shares of Common Stock of the Company outstanding at the end of the most recently concluded calendar year. Any shares of Common Stock that have been reserved but not issued as options during any calendar year shall remain available for grant during any subsequent calendar year. Each outside director of the Company shall also be eligible to receive a stock award of 180 shares of Common Stock as part of his or her annual retainer paid by the Company for his or her services as a director. On September 18, 2013, the Board of Directors approved the 180 share stock award to each of the eight outside directors (total 1,440 shares) for the year 2013. The Company recognized director stock grant expense in the amount of $27,000 for the quarter ending September 30, 2013, relative to these 1,440 shares awarded to the eight outside directors. Each stock award shall be fully vested when granted to the outside director. The number of shares of Common Stock available as stock awards to outside directors shall equal the number of shares of Common Stock to be awarded to such outside directors. Outstanding options under the plans are exercisable until their expiration. | |||||||||||||||||||||
Stock-based Compensation | |||||||||||||||||||||
There were no options granted in the three month period ended September 30, 2013 and 2012. There were 114,234 and 77,908 options granted for the nine month periods ended September 30, 2013 and 2012, respectively. For the three month periods ended September 30, 2013 and 2012, the compensation cost recognized for share based compensation was $131,000 and $69,000, respectively. For the nine month periods ended September 30, 2013 and 2012, the compensation cost recognized for share based compensation was $322,000 and $158,000, respectively At September 30, 2013, the total unrecognized compensation cost related to stock-based awards granted to employees under the Company’s stock option plans was $1,512,000. This cost is expected to be amortized on a straight-line basis over a weighted average period of approximately 3.9 years and will be adjusted for subsequent changes in estimated forfeitures. There were no options granted for the three month periods ended September 30, 2013 and 2012. The following table summarizes the weighted average grant date fair value of options granted for the nine month periods ended September 30, 2013 and 2012, based on the following assumptions used in a Black-Scholes Merton model. | |||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Weighted average grant date fair value per share of option granted | N/A | N/A | $ | 9.53 | $ | 6.28 | |||||||||||||||
Significant weighted average assumptions used in calculating fair value: | |||||||||||||||||||||
Expected term | 6.32 years | 6.49 years | |||||||||||||||||||
Expected annual volatility | 60 | % | 59 | % | |||||||||||||||||
Expected annual dividend yield | N/A | N/A | |||||||||||||||||||
Risk-free interest rate | 1.38 | % | 1.4 | % | |||||||||||||||||
A summary of outstanding stock options follows: | |||||||||||||||||||||
Weighted | |||||||||||||||||||||
Weighted | Average | ||||||||||||||||||||
Average | Remaining | Exercise | Aggregate | ||||||||||||||||||
Exercise | Contractual | Price | Intrinsic | ||||||||||||||||||
Shares | Price | Term | Range | Value ($000) | |||||||||||||||||
Outstanding at January 1, 2013 | 248,822 | $ | 29.4 | 7 years | $9.97-$103.10 | $ | 1,160 | ||||||||||||||
Granted | 114,234 | $ | 16.8 | $16.80 | $ | 240 | |||||||||||||||
Exercised | — | — | — | ||||||||||||||||||
Expired or Forfeited | (8,346 | ) | $ | 63.32 | $23.95-$65.30 | ||||||||||||||||
Outstanding at September 30, 2013 | 354,710 | $ | 24.55 | 7 years | $9.97-$103.10 | $ | 1,400 | ||||||||||||||
Fully vested and exercisable at September 30, 2013 | 130,008 | $ | 42.1 | 5 years | $9.97-$103.10 | $ | 344 | ||||||||||||||
Options expected to vest at September 30, 2013 | 224,702 | $ | 14.39 | 9 years | $9.97-$23.95 | $ | 1,056 | ||||||||||||||
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock as of September 30, 2013. There were no options exercised during the three and nine month periods ended September 30, 2013 and 2012. |
NOTE_10_ACCUMULATED_OTHER_COMP
NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | ' | ||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ' | ||||||||||||
NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||
Changes in each component of accumulated other comprehensive income (loss) for the three and nine month periods ended September 30, 2013 and September 30, 2012 were as follows (in thousands): | |||||||||||||
Net Unrealized | Adjustments | Accumulated | |||||||||||
Gains (Losses) | Related to | Other | |||||||||||
on Securities | Defined Benefit | Comprehensive | |||||||||||
Pension Plan | Income (Loss) | ||||||||||||
Balance at June 30, 2013 | $ | (3,238 | ) | $ | (857 | ) | $ | (4,095 | ) | ||||
Net unrealized gains on securities available for sale, net of tax, $1,096 | 1,577 | — | 1,577 | ||||||||||
Reclassification adjustment for losses on securities, net of tax, $(2) | (3 | ) | — | (3 | ) | ||||||||
Net gains arising during the period, net of tax | — | — | — | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax $30 | — | 43 | 43 | ||||||||||
Balance at September 30, 2013 | $ | (1,664 | ) | $ | (814 | ) | $ | (2,478 | ) | ||||
Balance at June 30, 2012 | $ | 4,050 | $ | (858 | ) | $ | 3,192 | ||||||
Net unrealized gains on securities available for sale, net of tax, $603 | 868 | — | 868 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(286) | (411 | ) | — | (411 | ) | ||||||||
Net gains arising during the period, net of tax $14 | — | 20 | 20 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | — | — | — | ||||||||||
Balance at September 30, 2012 | $ | 4,507 | $ | (838 | ) | $ | 3,669 | ||||||
Net Unrealized | Adjustments | Accumulated | |||||||||||
Gains (Losses) | Related to | Other | |||||||||||
on Securities | Defined Benefit | Comprehensive | |||||||||||
Pension Plan | Income (Loss) | ||||||||||||
Balance at December 31, 2012 | $ | 3,286 | $ | (1,620 | ) | $ | 1,666 | ||||||
Net unrealized losses on securities available for sale, net of tax, $(3,215) | (4,627 | ) | — | (4,627 | ) | ||||||||
Reclassification adjustment for gains on securities, net of tax, $(225) | (323 | ) | — | (323 | ) | ||||||||
Net gains arising during the period, net of tax $470 | — | 676 | 676 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax $90 | — | 130 | 130 | ||||||||||
Balance at September 30, 2013 | $ | (1,664 | ) | $ | (814 | ) | $ | (2,478 | ) | ||||
Balance at December 31, 2011 | $ | 2,369 | $ | (899 | ) | $ | 1,470 | ||||||
Net unrealized gains on securities available for sale, net of tax, $2,165 | 3,115 | — | 3,115 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(679) | (977 | ) | — | (977 | ) | ||||||||
Net gains arising during the period, net of tax $42 | — | 61 | 61 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | — | — | — | ||||||||||
Balance at September 30, 2012 | $ | 4,507 | $ | (838 | ) | $ | 3,669 | ||||||
Changes in each component of accumulated other comprehensive income were as follows (in thousands): | |||||||||||||
Three months ended September 30, 2013 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gains on investment securities | $ | 5 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | $ | (73 | ) | Salaries and employee benefits | |||||||||
(68 | ) | Total before tax | |||||||||||
28 | Benefit for income tax | ||||||||||||
$ | (40 | ) | Net of tax | ||||||||||
Three months ended September 30, 2012 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 697 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | — | Salaries and employee benefits | |||||||||||
697 | Total before tax | ||||||||||||
(286 | ) | Provision for income tax | |||||||||||
$ | 411 | Net of tax | |||||||||||
Nine months ended September 30, 2013 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 548 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | (220 | ) | Salaries and employee benefits | ||||||||||
328 | Total before tax | ||||||||||||
(135 | ) | Provision for income tax | |||||||||||
$ | 193 | Net of tax | |||||||||||
Nine months ended September 30, 2012 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 1,656 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | — | Salaries and employee benefits | |||||||||||
1,656 | Total before tax | ||||||||||||
(679 | ) | Provision for income tax | |||||||||||
$ | 977 | Net of tax | |||||||||||
NOTE_11_EARNINGS_PER_SHARE
NOTE 11 - EARNINGS PER SHARE | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
EARNINGS PER SHARE | ' | ||||||||||||||||
NOTE 11 – EARNINGS PER SHARE | |||||||||||||||||
Basic earnings per share (“EPS”), which excludes dilution, is computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted EPS. Stock options for 211,802 and 249,164 shares of common stock were not considered in computing diluted earnings per common share for the three months ended September 30, 2013 and 2012 respectively, because they were anti-dilutive. Stock options for 214,302 and 249,164 shares of common stock were not considered in computing diluted earnings per common share for the nine months ended September 30, 2013 and 2012 respectively, because they were anti-dilutive. | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Calculation of basic earnings per share: | |||||||||||||||||
Numerator - net income | $ | 580 | $ | 4,004 | $ | 2,735 | $ | 5,745 | |||||||||
Denominator - | |||||||||||||||||
Weighted average common shares outstanding | 6,835 | 6,835 | 6,835 | 6,834 | |||||||||||||
Basic earnings per share | $ | 0.08 | $ | 0.59 | $ | 0.4 | $ | 0.84 | |||||||||
Calculation of diluted earnings per share: | |||||||||||||||||
Numerator - net income | $ | 580 | $ | 4,004 | $ | 2,735 | $ | 5,745 | |||||||||
Denominator - | |||||||||||||||||
Weighted average common shares outstanding | 6,835 | 6,835 | 6,835 | 6,834 | |||||||||||||
Dilutive effect of outstanding options | 26 | 1 | 18 | 1 | |||||||||||||
Weighted average common shares outstanding and common stock equivalents | 6,861 | 6,836 | 6,853 | 6,835 | |||||||||||||
Diluted earnings per share | $ | 0.08 | $ | 0.59 | $ | 0.4 | $ | 0.84 |
NOTE_12_COMMITMENTS_AND_CONTIN
NOTE 12 - COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 12 – COMMITMENTS AND CONTINGENCIES | |
The Company is involved in legal actions arising from normal business activities. Management, based upon the advice of legal counsel, believes that the ultimate resolution of all pending legal actions will not have a material effect on the Company’s financial position, results of its operations or its cash flows. | |
The Company was contingently liable under letters of credit issued on behalf of its customers in the amount of $5,003,000 and $4,713,000 at September 30, 2013 and December 31, 2012, respectively. At September 30, 2013, commercial and consumer lines of credit and real estate loans of approximately $39,048,000 and $35,855,000, respectively, were undisbursed. At December 31, 2012, commercial and consumer lines of credit and real estate loans of approximately $47,350,000 and $31,925,000, respectively, were undisbursed. | |
Loan commitments are typically contingent upon the borrower meeting certain financial and other covenants and such commitments typically have fixed expiration dates and require payment of a fee. As many of these commitments are expected to expire without being drawn upon, the total commitments do not necessarily represent future cash requirements. The Company evaluates each potential borrower and the necessary collateral on an individual basis. Collateral varies, but may include real property, bank deposits, debt securities, equity securities or business or personal assets. | |
Standby letters of credit are conditional commitments written by the Company to guarantee the performance of a customer to a third party. These guarantees are issued primarily relating to real estate projects and inventory purchases by the Company’s commercial customers and such guarantees are typically short term. Credit risk is similar to that involved in extending loan commitments to customers and the Company, accordingly, uses evaluation and collateral requirements similar to those for loan commitments. Most of such commitments are collateralized. The fair value of the liability related to these standby letters of credit, which represents the fees received for issuing the guarantees, was not significant at September 30, 2013 and December 31, 2012. The Company recognizes these fees as revenues over the term of the commitment or when the commitment is used. | |
Loan commitments and standby letters of credit involve, to varying degrees, elements of credit and market risk in excess of the amounts recognized in the balance sheet and do not necessarily represent the actual amount subject to credit loss. At September 30, 2013 and December 31, 2012, the Company had a reserve for unfunded commitments of $146,000 and $143,000, respectively. | |
A large portion of the loan portfolio of the Company is collateralized by real estate. At September 30, 2013, real estate served as the principal source of collateral with respect to approximately 81% of the Company’s loan portfolio. At September 30, 2013, real estate construction loans totaled $19,281,000, or 4% of the total loan portfolio, commercial loans secured by real estate totaled $328,967,000, or 65% of the total loan portfolio, and real estate mortgage loans totaled $65,790,000, or 13% of the total loan portfolio. See the discussion under “Loan Portfolio” starting on page 35. A further decline in the state and national economy, in general, combined with further deterioration in real estate values in the Company’s primary operating market areas, would have an adverse effect on the value of real estate as well as other collateral securing loans, plus the ability of certain borrowers to repay their outstanding loans and the overall demand for new loans, and this could have a material impact on the Company’s financial position, results of operations or its cash flows. | |
As previously reported, NVB established a reserve in the amount of $1,260,000 for the settlement of criticisms identified in conjunction with a compliance examination conducted by the Federal Reserve Bank of San Francisco in 2010. During the quarter ended September 30, 2013, in accordance with the terms of an agreement reached with the Federal Reserve Bank of San Francisco, all of these funds were disbursed to the affected parties, as agreed, thereby ending the reserve. NVB continues to comply with the terms of the agreement reached to resolve criticisms raised by the Federal Reserve Bank of San Francisco. | |
On June 26, 2013, the Company announced that its Board of Directors has authorized the repurchase of up to 5% of the Company’s outstanding common shares, or approximately 340,000 shares. During the nine month period ended September 30, 2013, there were no repurchases of common shares. |
NOTE_13_FAIR_VALUE_MEASUREMENT
NOTE 13 - FAIR VALUE MEASUREMENTS | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||||||||||||||||||
NOTE 13 – FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||||
The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: | |||||||||||||||||||||||||||||||||
● | Quoted prices in active markets for identical assets (Level 1): Inputs that are quoted unadjusted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An active market for the asset is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | ||||||||||||||||||||||||||||||||
● | Significant other observable inputs (Level 2): Inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity including quoted prices for similar assets or liabilities, quoted prices for securities in inactive markets and inputs derived principally from, or corroborated by, observable market data by correlation or other means. | ||||||||||||||||||||||||||||||||
● | Significant unobservable inputs (Level 3): Inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. | ||||||||||||||||||||||||||||||||
Assets Recorded at Fair Value on a Recurring Basis: | |||||||||||||||||||||||||||||||||
The table below presents assets measured at fair value on a recurring basis (in thousands). | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 18,678 | $ | — | $ | 18,678 | $ | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | 6,853 | — | 6,853 | — | |||||||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 260,343 | — | 260,343 | — | |||||||||||||||||||||||||||||
Corporate debt securities | 4,770 | — | 4,770 | — | |||||||||||||||||||||||||||||
Equity securities | 2,983 | — | 2,983 | — | |||||||||||||||||||||||||||||
$ | 293,627 | $ | — | $ | 293,627 | $ | — | ||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 21,118 | $ | — | $ | 21,118 | $ | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | 11,197 | — | 11,197 | — | |||||||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 245,631 | — | 245,631 | — | |||||||||||||||||||||||||||||
Corporate debt securities | 4,756 | — | 4,756 | — | |||||||||||||||||||||||||||||
Equity securities | 3,113 | — | 3,113 | — | |||||||||||||||||||||||||||||
$ | 285,815 | $ | — | $ | 285,815 | $ | — | ||||||||||||||||||||||||||
Fair values for available-for-sale investment securities are based on quoted market prices for similar securities at September 30, 2013 and December 31, 2012. During the three and nine month periods ended September 30, 2013, there were no transfers between Levels 1 and 2. | |||||||||||||||||||||||||||||||||
Assets Recorded at Fair Value on a Nonrecurring Basis: | |||||||||||||||||||||||||||||||||
The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-fair value accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis that were still held in the balance sheet at quarter end, the following table provides the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets at quarter end (in thousands). | |||||||||||||||||||||||||||||||||
Total Losses | Total Losses | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | 16 | $ | — | $ | 16 | $ | — | |||||||||||||||||
Real estate - commercial | 609 | — | — | 609 | — | 431 | 239 | 1,887 | |||||||||||||||||||||||||
Real estate - construction | 438 | — | — | 438 | — | — | 357 | — | |||||||||||||||||||||||||
Real estate - mortgage | 116 | — | — | 116 | — | 76 | 272 | 149 | |||||||||||||||||||||||||
Installment | 9 | — | — | 9 | 18 | — | 18 | — | |||||||||||||||||||||||||
Other | 171 | — | — | 171 | 34 | — | 71 | — | |||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - commercial | — | — | — | — | — | 92 | — | 92 | |||||||||||||||||||||||||
Real estate - construction | 1,644 | — | — | 1,644 | 1,100 | 657 | 1,618 | 790 | |||||||||||||||||||||||||
Real estate - mortgage | 219 | — | — | 219 | 39 | — | 39 | 140 | |||||||||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 3,206 | $ | — | $ | — | $ | 3,206 | $ | 1,207 | $ | 1,256 | $ | 2,630 | $ | 3,058 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 585 | $ | — | $ | — | $ | 585 | |||||||||||||||||||||||||
Real estate - commercial | 2,222 | — | — | 2,222 | |||||||||||||||||||||||||||||
Real estate - construction | 143 | — | — | 143 | |||||||||||||||||||||||||||||
Real estate - mortgage | 464 | — | — | 464 | |||||||||||||||||||||||||||||
Installment | 75 | — | — | 75 | |||||||||||||||||||||||||||||
Other | 25 | — | — | 25 | |||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - construction | 7,360 | — | — | 7,360 | |||||||||||||||||||||||||||||
Real estate - mortgage | 184 | — | — | 184 | |||||||||||||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 11,058 | $ | — | $ | — | $ | 11,058 | |||||||||||||||||||||||||
Impaired Loans – The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available, and additional discounts by management for known market factors and time since the last appraisal. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | |||||||||||||||||||||||||||||||||
Other Real Estate Owned – Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned (OREO) are measured at fair value, less costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||||||||||||||
The following table presents quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis (in thousands): | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||||||||||||||||
(Weighted | |||||||||||||||||||||||||||||||||
Average) | |||||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 609 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 438 | Comparable sales approach | Discount adjustment for differences between comparable sales | 2% to 3% (3%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 116 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Other | $ | 171 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 1,644 | Comparable sales approach | Discount adjustment for differences between comparable sales | 0% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 219 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||||||||||||||||
(Weighted | |||||||||||||||||||||||||||||||||
Average) | |||||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 2,222 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 143 | Comparable sales approach | Discount adjustment for differences between comparable sales | 2% to 3% (3%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 464 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 7,360 | Comparable sales approach | Discount adjustment for differences between comparable sales | 0% to 6% (6%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 184 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Disclosures about Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||
The fair values presented represent the Company’s best estimate of fair value using the methodologies discussed below. The fair values of financial instruments which have a relatively short period of time between their origination and their expected realization were valued using historical cost. The values assigned do not necessarily represent amounts which ultimately may be realized. In addition, these values do not give effect to discounts to fair value which may occur when financial instruments are sold in larger quantities. | |||||||||||||||||||||||||||||||||
The following assumptions were used as of September 30, 2013 and December 31, 2012 to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. | |||||||||||||||||||||||||||||||||
a) | Cash and Due From Banks – The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. | ||||||||||||||||||||||||||||||||
b) | Federal Funds Sold – The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. | ||||||||||||||||||||||||||||||||
c) | Time Deposits at Other Financial Institutions – The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 2. | ||||||||||||||||||||||||||||||||
d) | FHLB, FRB Stock and Other Securities – It was not practicable to determine the fair value of FHLB or FRB stock due to the restrictions placed on its transferability. | ||||||||||||||||||||||||||||||||
e) | Investment Securities – The fair value of investment securities are based on quoted market prices, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Available-for-sale securities are carried at fair value. | ||||||||||||||||||||||||||||||||
f) | Loans – Commercial loans, residential mortgages, construction loans and direct financing leases are segmented by fixed and adjustable rate interest terms, by maturity, and by performing and nonperforming categories. | ||||||||||||||||||||||||||||||||
The fair value of performing loans are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||||||||||||||
The fair value of nonperforming loans is estimated by discounting estimated future cash flows using current interest rates with an additional risk adjustment reflecting the individual characteristics of the loans, or using the fair value of underlying collateral for collateral dependent loans as a practical expedient. | |||||||||||||||||||||||||||||||||
g) | Deposits – The fair values disclosed for noninterest-bearing and interest-bearing demand deposits and savings and money market accounts are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. Fair values for certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | ||||||||||||||||||||||||||||||||
h) | Subordinated Debentures – The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | ||||||||||||||||||||||||||||||||
i) | Commitments to Fund Loans/Standby Letters of Credit – The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. The differences between the carrying value of commitments to fund loans or standby letters of credit and their fair value are not significant and therefore not included in the following table. | ||||||||||||||||||||||||||||||||
j) | Accrued Interest Receivable/Payable – The carrying amounts of accrued interest approximate fair value and therefore follow the same classification as the related asset or liability. | ||||||||||||||||||||||||||||||||
The carrying amounts and estimated fair values of the Company’s financial instruments are as follows (in thousands): | |||||||||||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||||||||||
September 30, 2013, Using | |||||||||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 23,780 | $ | 23,780 | $ | — | $ | — | $ | 23,780 | |||||||||||||||||||||||
Federal funds sold | 2,345 | 2,345 | — | — | 2,345 | ||||||||||||||||||||||||||||
Time deposits at other financial institutions | 2,219 | — | 2,219 | — | 2,219 | ||||||||||||||||||||||||||||
FHLB, FRB and other securities | 8,402 | N/A | |||||||||||||||||||||||||||||||
Securities: | |||||||||||||||||||||||||||||||||
Available-for-sale | 293,627 | — | 293,627 | — | 293,627 | ||||||||||||||||||||||||||||
Held-to-maturity | 6 | — | 6 | — | 6 | ||||||||||||||||||||||||||||
Loans | 499,780 | — | — | 513,426 | 513,426 | ||||||||||||||||||||||||||||
Accrued interest receivable | 2,166 | — | 736 | 1,430 | 2,166 | ||||||||||||||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||
Nonmaturity deposits | $ | 626,157 | $ | 626,157 | $ | — | $ | — | $ | 626,157 | |||||||||||||||||||||||
Time deposits | 153,613 | — | 153,798 | — | 153,798 | ||||||||||||||||||||||||||||
Other borrowed funds | — | — | — | — | — | ||||||||||||||||||||||||||||
Subordinated debentures | 21,651 | — | — | 7,927 | 7,927 | ||||||||||||||||||||||||||||
Accrued interest payable | 110 | 2 | 31 | 77 | 110 | ||||||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||||||||||
December 31, 2012, Using | |||||||||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 22,654 | $ | 22,654 | $ | — | $ | — | $ | 22,654 | |||||||||||||||||||||||
Federal funds sold | 15,865 | 15,865 | — | — | 15,865 | ||||||||||||||||||||||||||||
Time deposits at other financial institutions | 2,219 | — | 2,219 | — | 2,219 | ||||||||||||||||||||||||||||
FHLB, FRB and other securities | 8,313 | — | — | — | N/A | ||||||||||||||||||||||||||||
Securities: | |||||||||||||||||||||||||||||||||
Available-for-sale | 285,815 | — | 285,815 | — | 285,815 | ||||||||||||||||||||||||||||
Held-to-maturity | 6 | — | 6 | — | 6 | ||||||||||||||||||||||||||||
Loans | 481,753 | — | — | 500,689 | 500,689 | ||||||||||||||||||||||||||||
Accrued interest receivable | 2,217 | — | 767 | 1,450 | 2,217 | ||||||||||||||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||
Nonmaturity deposits | $ | 596,204 | $ | 596,204 | $ | — | $ | — | $ | 596,204 | |||||||||||||||||||||||
Time deposits | 172,376 | — | 172,805 | — | 172,805 | ||||||||||||||||||||||||||||
Subordinated debentures | 21,651 | — | — | 9,018 | 9,018 | ||||||||||||||||||||||||||||
Accrued interest payable | 136 | 2 | 54 | 80 | 136 | ||||||||||||||||||||||||||||
NOTE_2_INVESTMENT_SECURITIES_T
NOTE 2 - INVESTMENT SECURITIES (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of amortized cost of securities and their approximate fair value | ' | ||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 19,669 | $ | — | $ | (991 | ) | $ | 18,678 | ||||||||||||||||
Obligations of state and political subdivisions | 6,692 | 192 | (31 | ) | 6,853 | ||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 261,085 | 3,566 | (4,308 | ) | 260,343 | ||||||||||||||||||||
Corporate debt securities | 6,000 | — | (1,230 | ) | 4,770 | ||||||||||||||||||||
Equity securities | 3,000 | — | (17 | ) | 2,983 | ||||||||||||||||||||
$ | 296,446 | $ | 3,758 | $ | (6,577 | ) | $ | 293,627 | |||||||||||||||||
Held-to-Maturity: | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 6 | $ | — | $ | — | $ | 6 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Available-for-Sale: | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 21,003 | $ | 115 | $ | — | $ | 21,118 | |||||||||||||||||
Obligations of state and political subdivisions | 10,698 | 499 | — | 11,197 | |||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 239,543 | 6,152 | (64 | ) | 245,631 | ||||||||||||||||||||
Corporate debt securities | 6,000 | — | (1,244 | ) | 4,756 | ||||||||||||||||||||
Equity securities | 3,000 | 113 | — | 3,113 | |||||||||||||||||||||
$ | 280,244 | $ | 6,879 | $ | (1,308 | ) | $ | 285,815 | |||||||||||||||||
Held-to-Maturity: | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 6 | $ | — | $ | — | $ | 6 | |||||||||||||||||
Schedule of summary of investments securities in an unrealized loss for less than twelve months and twelve months or longer | ' | ||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 18,678 | $ | (991 | ) | $ | — | $ | — | 18,678 | (991 | ) | |||||||||||||
Obligations of state and political subdivisions | 1,151 | (31 | ) | — | — | 1,151 | (31 | ) | |||||||||||||||||
Government sponsored agency mortgage-backed securities | 138,511 | (4,308 | ) | — | — | 138,511 | (4,308 | ) | |||||||||||||||||
Corporate debt securities | — | — | 4,770 | (1,230 | ) | 4,770 | (1,230 | ) | |||||||||||||||||
Equity securities | 2,983 | (17 | ) | — | — | 2,983 | (17 | ) | |||||||||||||||||
Total impaired securities | $ | 161,323 | $ | (5,347 | ) | $ | 4,770 | $ | (1,230 | ) | $ | 166,093 | $ | (6,577 | ) | ||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Description of Securities | |||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | $ | 34,878 | $ | (64 | ) | $ | — | $ | — | $ | 34,878 | $ | (64 | ) | |||||||||||
Corporate debt securities | — | — | 4,756 | (1,244 | ) | 4,756 | (1,244 | ) | |||||||||||||||||
Total impaired securities | $ | 34,878 | $ | (64 | ) | $ | 4,756 | $ | (1,244 | ) | $ | 39,634 | $ | (1,308 | ) |
NOTE_3_LOANS_Tables
NOTE 3 - LOANS (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Schedule of classifications of loans | ' | ||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Commercial | $ | 48,903 | $ | 46,078 | |||||||||||||||||||||
Real estate - commercial | 328,967 | 295,630 | |||||||||||||||||||||||
Real estate - construction | 19,281 | 23,003 | |||||||||||||||||||||||
Real estate - mortgage | 65,790 | 74,353 | |||||||||||||||||||||||
Installment | 5,560 | 6,689 | |||||||||||||||||||||||
Other | 40,771 | 45,941 | |||||||||||||||||||||||
Gross loans | 509,272 | 491,694 | |||||||||||||||||||||||
Deferred loan (fees) costs, net | (180 | ) | 517 | ||||||||||||||||||||||
Allowance for loan losses | (9,312 | ) | (10,458 | ) | |||||||||||||||||||||
Total loans, net | $ | 499,780 | $ | 481,753 | |||||||||||||||||||||
Schedule of impaired loans and related allowance for loan losses | ' | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||
With no allocated allowance | |||||||||||||||||||||||||
Commercial | $ | 566 | $ | 587 | $ | — | $ | 585 | $ | 586 | $ | — | |||||||||||||
Real estate - commercial | 4,283 | 4,348 | — | 2,778 | 2,974 | — | |||||||||||||||||||
Real estate - construction | 843 | 864 | — | 1,210 | 1,273 | — | |||||||||||||||||||
Real estate - mortgage | 1,171 | 1,194 | — | 684 | 736 | — | |||||||||||||||||||
Installment | 110 | 127 | — | 122 | 138 | — | |||||||||||||||||||
Other | 311 | 326 | — | 111 | 120 | — | |||||||||||||||||||
Subtotal | 7,284 | 7,446 | — | 5,490 | 5,827 | — | |||||||||||||||||||
With allocated allowance | |||||||||||||||||||||||||
Commercial | 16 | 16 | 16 | — | — | — | |||||||||||||||||||
Real estate - commercial | — | — | — | 184 | 217 | 171 | |||||||||||||||||||
Real estate - construction | — | — | — | 161 | 161 | 18 | |||||||||||||||||||
Real estate - mortgage | 164 | 164 | 164 | — | — | — | |||||||||||||||||||
Subtotal | 180 | 180 | 180 | 345 | 378 | 189 | |||||||||||||||||||
Total Impaired Loans | $ | 7,464 | $ | 7,626 | $ | 180 | $ | 5,835 | $ | 6,205 | $ | 189 | |||||||||||||
Schedule of average balance and interest income recognized related to impaired loans | ' | ||||||||||||||||||||||||
For the three months ended September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Average Book | Interest Income | Average Book | Interest Income | ||||||||||||||||||||||
Balance | Recognized | Balance | Recognized | ||||||||||||||||||||||
Commercial | $ | 372 | $ | — | $ | 938 | $ | — | |||||||||||||||||
Real estate - commercial | 4,704 | 21 | 7,780 | — | |||||||||||||||||||||
Real estate - construction | 869 | 6 | 1,766 | — | |||||||||||||||||||||
Real estate - mortgage | 1,393 | 13 | 986 | — | |||||||||||||||||||||
Installment | 138 | — | 123 | — | |||||||||||||||||||||
Other | 327 | — | 277 | — | |||||||||||||||||||||
Total | $ | 7,803 | $ | 40 | $ | 11,870 | $ | — | |||||||||||||||||
For the nine months ended September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Average Book | Interest Income | Average Book | Interest Income | ||||||||||||||||||||||
Balance | Recognized | Balance | Recognized | ||||||||||||||||||||||
Commercial | $ | 430 | $ | — | $ | 1,043 | $ | — | |||||||||||||||||
Real estate - commercial | 4,722 | 35 | 7,942 | — | |||||||||||||||||||||
Real estate - construction | 874 | 19 | 1,780 | — | |||||||||||||||||||||
Real estate - mortgage | 1,404 | 33 | 1,006 | — | |||||||||||||||||||||
Installment | 140 | — | 133 | — | |||||||||||||||||||||
Other | 330 | — | 287 | — | |||||||||||||||||||||
Total | $ | 7,900 | $ | 87 | $ | 12,191 | $ | — | |||||||||||||||||
Schedule of nonperforming loans | ' | ||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Nonaccrual loans | $ | 5,216 | $ | 5,835 | |||||||||||||||||||||
Loans 90 days past due or more but still accruing interest | — | — | |||||||||||||||||||||||
Total nonperforming loans | $ | 5,216 | $ | 5,835 | |||||||||||||||||||||
Nonaccrual loans to total gross loans | 1.02 | % | 1.19 | % | |||||||||||||||||||||
Nonperforming loans to total gross loans | 1.02 | % | 1.19 | % | |||||||||||||||||||||
Schedule of aging analysis of loan portfolio by amount of time past due | ' | ||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Accruing Interest | |||||||||||||||||||||||||
Greater than | |||||||||||||||||||||||||
30-89 Days | 90 Days | ||||||||||||||||||||||||
Current | Past Due | Past Due | Nonaccrual | Total | |||||||||||||||||||||
Commercial | $ | 48,168 | $ | 153 | $ | — | $ | 582 | $ | 48,903 | |||||||||||||||
Real estate - commercial | 325,503 | 73 | — | 3,391 | 328,967 | ||||||||||||||||||||
Real estate - construction | 18,843 | — | — | 438 | 19,281 | ||||||||||||||||||||
Real estate - mortgage | 64,766 | 612 | — | 412 | 65,790 | ||||||||||||||||||||
Installment | 5,469 | 9 | — | 82 | 5,560 | ||||||||||||||||||||
Other | 40,434 | 26 | — | 311 | 40,771 | ||||||||||||||||||||
Total | $ | 503,183 | $ | 873 | $ | — | $ | 5,216 | $ | 509,272 | |||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Accruing Interest | |||||||||||||||||||||||||
Greater than | |||||||||||||||||||||||||
30-89 Days | 90 Days | ||||||||||||||||||||||||
Current | Past Due | Past Due | Nonaccrual | Total | |||||||||||||||||||||
Commercial | $ | 45,473 | $ | 20 | $ | — | $ | 585 | $ | 46,078 | |||||||||||||||
Real estate - commercial | 292,505 | 163 | — | 2,962 | 295,630 | ||||||||||||||||||||
Real estate - construction | 21,436 | 196 | — | 1,371 | 23,003 | ||||||||||||||||||||
Real estate - mortgage | 72,907 | 762 | — | 684 | 74,353 | ||||||||||||||||||||
Installment | 6,529 | 38 | — | 122 | 6,689 | ||||||||||||||||||||
Other | 45,581 | 249 | — | 111 | 45,941 | ||||||||||||||||||||
Total | $ | 484,431 | $ | 1,428 | $ | — | $ | 5,835 | $ | 491,694 | |||||||||||||||
Schedule of troubled debt restructuring | ' | ||||||||||||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||
Commercial | 2 | $ | 140 | $ | 140 | — | $ | — | $ | — | |||||||||||||||
Real estate - construction | 1 | $ | 114 | $ | 114 | — | $ | — | $ | — | |||||||||||||||
Real estate - mortgage | 1 | $ | 116 | $ | 116 | 1 | $ | 425 | $ | 425 | |||||||||||||||
Other | — | $ | — | $ | — | 1 | $ | 26 | $ | 26 | |||||||||||||||
Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||
Commercial | 3 | $ | 181 | $ | 181 | 1 | $ | 800 | $ | 800 | |||||||||||||||
Real estate - commercial | 1 | $ | 438 | $ | 438 | 2 | $ | 269 | $ | 269 | |||||||||||||||
Real estate - construction | 1 | $ | 114 | $ | 114 | — | $ | — | $ | — | |||||||||||||||
Real estate - mortgage | 2 | $ | 326 | $ | 326 | 1 | $ | 425 | $ | 425 | |||||||||||||||
Installment | — | $ | — | $ | — | 2 | $ | 70 | $ | 70 | |||||||||||||||
Other | 1 | $ | 47 | $ | 47 | 1 | $ | 26 | $ | 26 | |||||||||||||||
Nonperforming Loans Accruing Interest | ' | ||||||||||||||||||||||||
Schedule of troubled debt restructuring | ' | ||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Accruing TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Real estate - commercial | 5 | $ | — | $ | 197 | $ | 696 | $ | 893 | ||||||||||||||||
Real estate - construction | 2 | $ | — | $ | 405 | $ | — | $ | 405 | ||||||||||||||||
Real estate - mortgage | 3 | $ | — | $ | 294 | $ | 628 | $ | 922 | ||||||||||||||||
Installment | 1 | $ | — | $ | — | $ | 28 | $ | 28 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Accruing TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Real estate - commercial | 5 | $ | 202 | $ | — | $ | 1,148 | $ | 1,350 | ||||||||||||||||
Real estate - construction | 1 | $ | — | $ | 343 | $ | — | $ | 343 | ||||||||||||||||
Real estate - mortgage | 2 | $ | — | $ | 298 | $ | 423 | $ | 721 | ||||||||||||||||
Nonaccrual Loans | ' | ||||||||||||||||||||||||
Schedule of troubled debt restructuring | ' | ||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
Nonaccrual TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Commercial | 4 | $ | 16 | $ | — | $ | 566 | $ | 582 | ||||||||||||||||
Real estate - commercial | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate - construction | 1 | $ | — | $ | 114 | $ | — | $ | 114 | ||||||||||||||||
Real estate - mortgage | 1 | $ | — | $ | — | $ | 116 | $ | 116 | ||||||||||||||||
Installment | 3 | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||||||
Other | 2 | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Nonaccrual TDRs | Rate | ||||||||||||||||||||||||
Reduction | |||||||||||||||||||||||||
Number | and | ||||||||||||||||||||||||
of | Rate | Maturity | Maturity | ||||||||||||||||||||||
Contracts | Reduction | Extension | Extension | Total | |||||||||||||||||||||
Commercial | 1 | $ | — | $ | — | $ | 529 | $ | 529 | ||||||||||||||||
Real estate-construction | 2 | $ | 327 | $ | 71 | $ | — | $ | 398 | ||||||||||||||||
Installment | 4 | $ | — | $ | — | $ | 120 | $ | 120 | ||||||||||||||||
Other | 1 | $ | — | $ | — | $ | 25 | $ | 25 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS1
NOTE 4 - ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of changes in allowance for loan losses | ' | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance June 30, 2013 | $ | 847 | $ | 5,487 | $ | 439 | $ | 920 | $ | 167 | $ | 920 | $ | 747 | $ | 9,527 | |||||||||||||||||
Charge-offs | (22 | ) | — | (20 | ) | (34 | ) | (40 | ) | (174 | ) | (290 | ) | ||||||||||||||||||||
Recoveries | 18 | 48 | — | 1 | 8 | — | 75 | ||||||||||||||||||||||||||
Provisions for loan losses | (93 | ) | 138 | 16 | (23 | ) | 15 | 110 | (163 | ) | — | ||||||||||||||||||||||
Balance September 30, 2013 | $ | 750 | $ | 5,673 | $ | 435 | $ | 864 | $ | 150 | $ | 856 | $ | 584 | $ | 9,312 | |||||||||||||||||
For the three months ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance June 30, 2012 | $ | 1,260 | $ | 6,586 | $ | 1,387 | $ | 925 | $ | 141 | $ | 768 | $ | 665 | $ | 11,732 | |||||||||||||||||
Charge-offs | (250 | ) | (113 | ) | (492 | ) | (143 | ) | (48 | ) | (48 | ) | (1,094 | ) | |||||||||||||||||||
Recoveries | 13 | — | 43 | 1 | 29 | 3 | 89 | ||||||||||||||||||||||||||
Provisions for loan losses | (261 | ) | 435 | (23 | ) | 422 | — | 60 | 67 | 700 | |||||||||||||||||||||||
Balance September 30, 2012 | $ | 762 | $ | 6,908 | $ | 915 | $ | 1,205 | $ | 122 | $ | 783 | $ | 732 | $ | 11,427 | |||||||||||||||||
For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance December 31, 2012 | $ | 843 | $ | 6,295 | $ | 690 | $ | 982 | $ | 98 | $ | 721 | $ | 829 | $ | 10,458 | |||||||||||||||||
Charge-offs | (131 | ) | (438 | ) | (389 | ) | (236 | ) | (68 | ) | (229 | ) | (1,491 | ) | |||||||||||||||||||
Recoveries | 276 | 46 | 3 | 3 | 17 | — | 345 | ||||||||||||||||||||||||||
Provisions for loan losses | (238 | ) | (230 | ) | 131 | 115 | 103 | 364 | (245 | ) | — | ||||||||||||||||||||||
Balance September 30, 2013 | $ | 750 | $ | 5,673 | $ | 435 | $ | 864 | $ | 150 | $ | 856 | $ | 584 | $ | 9,312 | |||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | 16 | $ | — | $ | — | $ | 164 | $ | — | $ | — | $ | — | $ | 180 | |||||||||||||||||
Reserve to non-impaired loans | $ | 734 | $ | 5,673 | $ | 435 | $ | 700 | $ | 150 | $ | 856 | $ | 584 | $ | 9,132 | |||||||||||||||||
For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Unallocated | Total | ||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Balance December 31, 2011 | $ | 1,333 | $ | 7,528 | $ | 1,039 | $ | 935 | $ | 185 | $ | 736 | $ | 900 | $ | 12,656 | |||||||||||||||||
Charge-offs | (456 | ) | (1,730 | ) | (822 | ) | (333 | ) | (190 | ) | (120 | ) | (3,651 | ) | |||||||||||||||||||
Recoveries | 39 | 63 | 80 | 37 | 94 | 9 | 322 | ||||||||||||||||||||||||||
Provisions for loan losses | (154 | ) | 1,047 | 618 | 566 | 33 | 158 | (168 | ) | 2,100 | |||||||||||||||||||||||
Balance September 30, 2012 | $ | 762 | $ | 6,908 | $ | 915 | $ | 1,205 | $ | 122 | $ | 783 | $ | 732 | $ | 11,427 | |||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | — | $ | 417 | $ | — | $ | 50 | $ | — | $ | — | $ | 467 | |||||||||||||||||||
Reserve to non-impaired loans | $ | 762 | $ | 6,491 | $ | 915 | $ | 1,155 | $ | 122 | $ | 783 | $ | 732 | $ | 10,960 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | — | $ | 171 | $ | 18 | $ | — | $ | — | $ | — | $ | 189 | |||||||||||||||||||
Reserve to non-impaired loans | $ | 843 | $ | 6,124 | $ | 672 | $ | 982 | $ | 98 | $ | 721 | $ | 829 | $ | 10,269 | |||||||||||||||||
Schedule of loan portfolio by segment | ' | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Total | |||||||||||||||||||||||||||
Total Loans | $ | 48,903 | $ | 328,967 | $ | 19,281 | $ | 65,790 | $ | 5,560 | $ | 40,771 | $ | 509,272 | |||||||||||||||||||
Impaired Loans | $ | 582 | $ | 4,283 | $ | 843 | $ | 1,335 | $ | 110 | $ | 311 | $ | 7,464 | |||||||||||||||||||
Non-impaired loans | $ | 48,321 | $ | 324,684 | $ | 18,438 | $ | 64,455 | $ | 5,450 | $ | 40,460 | $ | 501,808 | |||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | |||||||||||||||||||||||||||||||
Commercial | Commercial | Construction | Mortgage | Installment | Other | Total | |||||||||||||||||||||||||||
Total Loans | $ | 46,078 | $ | 295,630 | $ | 23,003 | $ | 74,353 | $ | 6,689 | $ | 45,941 | $ | 491,694 | |||||||||||||||||||
Impaired Loans | $ | 585 | $ | 2,962 | $ | 1,371 | $ | 684 | $ | 122 | $ | 111 | $ | 5,835 | |||||||||||||||||||
Non-impaired loans | $ | 45,493 | $ | 292,668 | $ | 21,632 | $ | 73,669 | $ | 6,567 | $ | 45,830 | $ | 485,859 | |||||||||||||||||||
Schedule of loan portfolio allocated by management's internal risk ratings | ' | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Commercial | $ | 47,201 | $ | 726 | $ | 976 | $ | — | $ | 48,903 | |||||||||||||||||||||||
Real estate - commercial | 315,132 | 3,238 | 10,597 | — | 328,967 | ||||||||||||||||||||||||||||
Real estate - construction | 18,843 | — | 438 | — | 19,281 | ||||||||||||||||||||||||||||
Real estate - mortgage | 64,750 | — | 1,040 | — | 65,790 | ||||||||||||||||||||||||||||
Installment | 5,448 | — | 112 | — | 5,560 | ||||||||||||||||||||||||||||
Other | 40,263 | — | 508 | — | 40,771 | ||||||||||||||||||||||||||||
Total | $ | 491,637 | $ | 3,964 | $ | 13,671 | $ | — | $ | 509,272 | |||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Commercial | $ | 44,486 | $ | 129 | $ | 1,463 | $ | — | $ | 46,078 | |||||||||||||||||||||||
Real estate - commercial | 278,834 | — | 16,796 | — | 295,630 | ||||||||||||||||||||||||||||
Real estate - construction | 21,386 | — | 1,617 | — | 23,003 | ||||||||||||||||||||||||||||
Real estate - mortgage | 71,973 | — | 2,380 | — | 74,353 | ||||||||||||||||||||||||||||
Installment | 6,562 | — | 127 | — | 6,689 | ||||||||||||||||||||||||||||
Other | 45,658 | — | 283 | — | 45,941 | ||||||||||||||||||||||||||||
Total | $ | 468,899 | $ | 129 | $ | 22,666 | $ | — | $ | 491,694 |
NOTE_5_OTHER_REAL_ESTATE_OWNED1
NOTE 5 - OTHER REAL ESTATE OWNED (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Real Estate [Abstract] | ' | ||||||||||||||||
Schedule of changes in other real estate owned | ' | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Beginning Balance | $ | 22,423 | $ | 20,106 | |||||||||||||
Properties transferred in | 818 | 12,239 | |||||||||||||||
Sales of property | (5,923 | ) | (6,889 | ) | |||||||||||||
Loss on sale or writedown of property | (2,273 | ) | (3,033 | ) | |||||||||||||
Total | $ | 15,045 | $ | 22,423 | |||||||||||||
Schedule of components of other real estate owned | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Operating expenses | $ | 85 | $ | 79 | $ | 319 | $ | 306 | |||||||||
Provision for losses | 1,139 | 749 | 2,023 | 1,310 | |||||||||||||
Net, loss (gain) on disposal | 2 | (11 | ) | 250 | 177 | ||||||||||||
Total other real estate owned expense | $ | 1,226 | $ | 817 | $ | 2,592 | $ | 1,793 |
NOTE_6_SUBORDINATED_DEBENTURES1
NOTE 6 - SUBORDINATED DEBENTURES (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Subordinated Debt [Abstract] | ' | ||||||||||||||||
Schedule of subordinated debenture | ' | ||||||||||||||||
Fixed or | |||||||||||||||||
Date | Variable | Current | Rate | Redemption | |||||||||||||
Series | Issued | Maturity | Rate | Rate | Index | Date | Amount | ||||||||||
North Valley Capital Trust II | 4/10/03 | 4/24/33 | Variable | 3.52% | LIBOR + 3.25% | 4/24/08 | 6,186 | ||||||||||
North Valley Capital Trust III | 5/5/04 | 4/24/34 | Variable | 3.06% | LIBOR + 2.80% | 7/23/09 | 5,155 | ||||||||||
North Valley Capital Statutory Trust IV | 12/29/05 | 3/15/36 | Variable | 1.58% | LIBOR + 1.33% | 3/15/11 | 10,310 | ||||||||||
$ | 21,651 |
NOTE_8_PENSION_PLAN_BENEFITS_T
NOTE 8 - PENSION PLAN BENEFITS (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of components of net periodic benefit cost for supplemental nonqualified defined benefit plans | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
Components of net periodic benefits cost: | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 171 | $ | 150 | $ | 512 | $ | 451 | |||||||||
Interest cost | 93 | 84 | 279 | 251 | |||||||||||||
Prior service amortization | 25 | 25 | 74 | 74 | |||||||||||||
Recognized net actuarial loss | 48 | 10 | 146 | 30 | |||||||||||||
Total components of net periodic cost | $ | 337 | $ | 269 | $ | 1,011 | $ | 806 | |||||||||
Schedule of total liability of pension plan benefit | ' | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Total Liability of Pension Plan Benefits | $ | 8,900 | $ | 9,443 |
NOTE_9_STOCKBASED_COMPENSATION1
NOTE 9 - STOCK-BASED COMPENSATION (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||||||||||||
Schedule of weighted average grant date fair value of options granted | ' | ||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Weighted average grant date fair value per share of option granted | N/A | N/A | $ | 9.53 | $ | 6.28 | |||||||||||||||
Significant weighted average assumptions used in calculating fair value: | |||||||||||||||||||||
Expected term | 6.32 years | 6.49 years | |||||||||||||||||||
Expected annual volatility | 60 | % | 59 | % | |||||||||||||||||
Expected annual dividend yield | N/A | N/A | |||||||||||||||||||
Risk-free interest rate | 1.38 | % | 1.4 | % | |||||||||||||||||
Schedule of outstanding stock options | ' | ||||||||||||||||||||
Weighted | |||||||||||||||||||||
Weighted | Average | ||||||||||||||||||||
Average | Remaining | Exercise | Aggregate | ||||||||||||||||||
Exercise | Contractual | Price | Intrinsic | ||||||||||||||||||
Shares | Price | Term | Range | Value ($000) | |||||||||||||||||
Outstanding at January 1, 2013 | 248,822 | $ | 29.4 | 7 years | $9.97-$103.10 | $ | 1,160 | ||||||||||||||
Granted | 114,234 | $ | 16.8 | $16.80 | $ | 240 | |||||||||||||||
Exercised | — | — | — | ||||||||||||||||||
Expired or Forfeited | (8,346 | ) | $ | 63.32 | $23.95-$65.30 | ||||||||||||||||
Outstanding at September 30, 2013 | 354,710 | $ | 24.55 | 7 years | $9.97-$103.10 | $ | 1,400 | ||||||||||||||
Fully vested and exercisable at September 30, 2013 | 130,008 | $ | 42.1 | 5 years | $9.97-$103.10 | $ | 344 | ||||||||||||||
Options expected to vest at September 30, 2013 | 224,702 | $ | 14.39 | 9 years | $9.97-$23.95 | $ | 1,056 |
NOTE_10_ACCUMULATED_OTHER_COMP1
NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | ' | ||||||||||||
Schedule of accumulated other comprehensive income (loss) | ' | ||||||||||||
Net Unrealized | Adjustments | Accumulated | |||||||||||
Gains (Losses) | Related to | Other | |||||||||||
on Securities | Defined Benefit | Comprehensive | |||||||||||
Pension Plan | Income (Loss) | ||||||||||||
Balance at June 30, 2013 | $ | (3,238 | ) | $ | (857 | ) | $ | (4,095 | ) | ||||
Net unrealized gains on securities available for sale, net of tax, $1,096 | 1,577 | — | 1,577 | ||||||||||
Reclassification adjustment for losses on securities, net of tax, $(2) | (3 | ) | — | (3 | ) | ||||||||
Net gains arising during the period, net of tax | — | — | — | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax $30 | — | 43 | 43 | ||||||||||
Balance at September 30, 2013 | $ | (1,664 | ) | $ | (814 | ) | $ | (2,478 | ) | ||||
Balance at June 30, 2012 | $ | 4,050 | $ | (858 | ) | $ | 3,192 | ||||||
Net unrealized gains on securities available for sale, net of tax, $603 | 868 | — | 868 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(286) | (411 | ) | — | (411 | ) | ||||||||
Net gains arising during the period, net of tax $14 | — | 20 | 20 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | — | — | — | ||||||||||
Balance at September 30, 2012 | $ | 4,507 | $ | (838 | ) | $ | 3,669 | ||||||
Net Unrealized | Adjustments | Accumulated | |||||||||||
Gains (Losses) | Related to | Other | |||||||||||
on Securities | Defined Benefit | Comprehensive | |||||||||||
Pension Plan | Income (Loss) | ||||||||||||
Balance at December 31, 2012 | $ | 3,286 | $ | (1,620 | ) | $ | 1,666 | ||||||
Net unrealized losses on securities available for sale, net of tax, $(3,215) | (4,627 | ) | — | (4,627 | ) | ||||||||
Reclassification adjustment for gains on securities, net of tax, $(225) | (323 | ) | — | (323 | ) | ||||||||
Net gains arising during the period, net of tax $470 | — | 676 | 676 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax $90 | — | 130 | 130 | ||||||||||
Balance at September 30, 2013 | $ | (1,664 | ) | $ | (814 | ) | $ | (2,478 | ) | ||||
Balance at December 31, 2011 | $ | 2,369 | $ | (899 | ) | $ | 1,470 | ||||||
Net unrealized gains on securities available for sale, net of tax, $2,165 | 3,115 | — | 3,115 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(679) | (977 | ) | — | (977 | ) | ||||||||
Net gains arising during the period, net of tax $42 | — | 61 | 61 | ||||||||||
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | — | — | — | ||||||||||
Balance at September 30, 2012 | $ | 4,507 | $ | (838 | ) | $ | 3,669 | ||||||
Schedule of changes in each component of accumulated other comprehensive income (loss) | ' | ||||||||||||
Three months ended September 30, 2013 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gains on investment securities | $ | 5 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | $ | (73 | ) | Salaries and employee benefits | |||||||||
(68 | ) | Total before tax | |||||||||||
28 | Benefit for income tax | ||||||||||||
$ | (40 | ) | Net of tax | ||||||||||
Three months ended September 30, 2012 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 697 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | — | Salaries and employee benefits | |||||||||||
697 | Total before tax | ||||||||||||
(286 | ) | Provision for income tax | |||||||||||
$ | 411 | Net of tax | |||||||||||
Nine months ended September 30, 2013 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 548 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | (220 | ) | Salaries and employee benefits | ||||||||||
328 | Total before tax | ||||||||||||
(135 | ) | Provision for income tax | |||||||||||
$ | 193 | Net of tax | |||||||||||
Nine months ended September 30, 2012 | |||||||||||||
Details About Accumulated Other | Amount Reclassified | Affected Line Item in the Statement | |||||||||||
Comprehensive Income Components | From Accumulated Other | Where Net Income is Presented | |||||||||||
Comprehensive Income | |||||||||||||
Gain on investment securities | $ | 1,656 | Gain on sales or calls of securities, net | ||||||||||
Amortization of prior service cost and net gain included in net periodic pension cost | — | Salaries and employee benefits | |||||||||||
1,656 | Total before tax | ||||||||||||
(679 | ) | Provision for income tax | |||||||||||
$ | 977 | Net of tax |
NOTE_11_EARNINGS_PER_SHARE_Tab
NOTE 11 - EARNINGS PER SHARE (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of basic and diluted earning per share | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Calculation of basic earnings per share: | |||||||||||||||||
Numerator - net income | $ | 580 | $ | 4,004 | $ | 2,735 | $ | 5,745 | |||||||||
Denominator - | |||||||||||||||||
Weighted average common shares outstanding | 6,835 | 6,835 | 6,835 | 6,834 | |||||||||||||
Basic earnings per share | $ | 0.08 | $ | 0.59 | $ | 0.4 | $ | 0.84 | |||||||||
Calculation of diluted earnings per share: | |||||||||||||||||
Numerator - net income | $ | 580 | $ | 4,004 | $ | 2,735 | $ | 5,745 | |||||||||
Denominator - | |||||||||||||||||
Weighted average common shares outstanding | 6,835 | 6,835 | 6,835 | 6,834 | |||||||||||||
Dilutive effect of outstanding options | 26 | 1 | 18 | 1 | |||||||||||||
Weighted average common shares outstanding and common stock equivalents | 6,861 | 6,836 | 6,853 | 6,835 | |||||||||||||
Diluted earnings per share | $ | 0.08 | $ | 0.59 | $ | 0.4 | $ | 0.84 |
NOTE_13_FAIR_VALUE_MEASUREMENT1
NOTE 13 - FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of assets measured at fair value on a recurring basis | ' | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 18,678 | $ | — | $ | 18,678 | $ | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | 6,853 | — | 6,853 | — | |||||||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 260,343 | — | 260,343 | — | |||||||||||||||||||||||||||||
Corporate debt securities | 4,770 | — | 4,770 | — | |||||||||||||||||||||||||||||
Equity securities | 2,983 | — | 2,983 | — | |||||||||||||||||||||||||||||
$ | 293,627 | $ | — | $ | 293,627 | $ | — | ||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government sponsored agencies | $ | 21,118 | $ | — | $ | 21,118 | $ | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | 11,197 | — | 11,197 | — | |||||||||||||||||||||||||||||
Government sponsored agency mortgage-backed securities | 245,631 | — | 245,631 | — | |||||||||||||||||||||||||||||
Corporate debt securities | 4,756 | — | 4,756 | — | |||||||||||||||||||||||||||||
Equity securities | 3,113 | — | 3,113 | — | |||||||||||||||||||||||||||||
$ | 285,815 | $ | — | $ | 285,815 | $ | — | ||||||||||||||||||||||||||
Schedule of level of valuation assumptions used to determine each adjustment and the carrying value of related assets | ' | ||||||||||||||||||||||||||||||||
Total Losses | Total Losses | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | 16 | $ | — | $ | 16 | $ | — | |||||||||||||||||
Real estate - commercial | 609 | — | — | 609 | — | 431 | 239 | 1,887 | |||||||||||||||||||||||||
Real estate - construction | 438 | — | — | 438 | — | — | 357 | — | |||||||||||||||||||||||||
Real estate - mortgage | 116 | — | — | 116 | — | 76 | 272 | 149 | |||||||||||||||||||||||||
Installment | 9 | — | — | 9 | 18 | — | 18 | — | |||||||||||||||||||||||||
Other | 171 | — | — | 171 | 34 | — | 71 | — | |||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - commercial | — | — | — | — | — | 92 | — | 92 | |||||||||||||||||||||||||
Real estate - construction | 1,644 | — | — | 1,644 | 1,100 | 657 | 1,618 | 790 | |||||||||||||||||||||||||
Real estate - mortgage | 219 | — | — | 219 | 39 | — | 39 | 140 | |||||||||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 3,206 | $ | — | $ | — | $ | 3,206 | $ | 1,207 | $ | 1,256 | $ | 2,630 | $ | 3,058 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 585 | $ | — | $ | — | $ | 585 | |||||||||||||||||||||||||
Real estate - commercial | 2,222 | — | — | 2,222 | |||||||||||||||||||||||||||||
Real estate - construction | 143 | — | — | 143 | |||||||||||||||||||||||||||||
Real estate - mortgage | 464 | — | — | 464 | |||||||||||||||||||||||||||||
Installment | 75 | — | — | 75 | |||||||||||||||||||||||||||||
Other | 25 | — | — | 25 | |||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - construction | 7,360 | — | — | 7,360 | |||||||||||||||||||||||||||||
Real estate - mortgage | 184 | — | — | 184 | |||||||||||||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 11,058 | $ | — | $ | — | $ | 11,058 | |||||||||||||||||||||||||
Schedule of quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis | ' | ||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||||||||||||||||
(Weighted | |||||||||||||||||||||||||||||||||
Average) | |||||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 609 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 438 | Comparable sales approach | Discount adjustment for differences between comparable sales | 2% to 3% (3%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 116 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Other | $ | 171 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 1,644 | Comparable sales approach | Discount adjustment for differences between comparable sales | 0% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 219 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||||||||||||||||
(Weighted | |||||||||||||||||||||||||||||||||
Average) | |||||||||||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 2,222 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 143 | Comparable sales approach | Discount adjustment for differences between comparable sales | 2% to 3% (3%) | ||||||||||||||||||||||||||||
Real estate - mortgage | $ | 464 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
OREO: | |||||||||||||||||||||||||||||||||
Real estate - commercial | $ | 7,360 | Comparable sales approach | Discount adjustment for differences between comparable sales | 0% to 6% (6%) | ||||||||||||||||||||||||||||
Real estate - construction | $ | 184 | Comparable sales approach | Discount adjustment for differences between comparable sales | 6% to 11% (9%) | ||||||||||||||||||||||||||||
Schedule of estimated fair values of financial instruments | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||||||||||
September 30, 2013, Using | |||||||||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 23,780 | $ | 23,780 | $ | — | $ | — | $ | 23,780 | |||||||||||||||||||||||
Federal funds sold | 2,345 | 2,345 | — | — | 2,345 | ||||||||||||||||||||||||||||
Time deposits at other financial institutions | 2,219 | — | 2,219 | — | 2,219 | ||||||||||||||||||||||||||||
FHLB, FRB and other securities | 8,402 | N/A | |||||||||||||||||||||||||||||||
Securities: | |||||||||||||||||||||||||||||||||
Available-for-sale | 293,627 | — | 293,627 | — | 293,627 | ||||||||||||||||||||||||||||
Held-to-maturity | 6 | — | 6 | — | 6 | ||||||||||||||||||||||||||||
Loans | 499,780 | — | — | 513,426 | 513,426 | ||||||||||||||||||||||||||||
Accrued interest receivable | 2,166 | — | 736 | 1,430 | 2,166 | ||||||||||||||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||
Nonmaturity deposits | $ | 626,157 | $ | 626,157 | $ | — | $ | — | $ | 626,157 | |||||||||||||||||||||||
Time deposits | 153,613 | — | 153,798 | — | 153,798 | ||||||||||||||||||||||||||||
Other borrowed funds | — | — | — | — | — | ||||||||||||||||||||||||||||
Subordinated debentures | 21,651 | — | — | 7,927 | 7,927 | ||||||||||||||||||||||||||||
Accrued interest payable | 110 | 2 | 31 | 77 | 110 | ||||||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||||||||||
December 31, 2012, Using | |||||||||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks | $ | 22,654 | $ | 22,654 | $ | — | $ | — | $ | 22,654 | |||||||||||||||||||||||
Federal funds sold | 15,865 | 15,865 | — | — | 15,865 | ||||||||||||||||||||||||||||
Time deposits at other financial institutions | 2,219 | — | 2,219 | — | 2,219 | ||||||||||||||||||||||||||||
FHLB, FRB and other securities | 8,313 | — | — | — | N/A | ||||||||||||||||||||||||||||
Securities: | |||||||||||||||||||||||||||||||||
Available-for-sale | 285,815 | — | 285,815 | — | 285,815 | ||||||||||||||||||||||||||||
Held-to-maturity | 6 | — | 6 | — | 6 | ||||||||||||||||||||||||||||
Loans | 481,753 | — | — | 500,689 | 500,689 | ||||||||||||||||||||||||||||
Accrued interest receivable | 2,217 | — | 767 | 1,450 | 2,217 | ||||||||||||||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||||
Nonmaturity deposits | $ | 596,204 | $ | 596,204 | $ | — | $ | — | $ | 596,204 | |||||||||||||||||||||||
Time deposits | 172,376 | — | 172,805 | — | 172,805 | ||||||||||||||||||||||||||||
Subordinated debentures | 21,651 | — | — | 9,018 | 9,018 | ||||||||||||||||||||||||||||
Accrued interest payable | 136 | 2 | 54 | 80 | 136 | ||||||||||||||||||||||||||||
NOTE_1_BASIS_OF_PRESENTATION_D
NOTE 1 - BASIS OF PRESENTATION (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ' | ' |
Subordinated Debt | $21,651 | $21,651 |
NOTE_2_INVESTMENT_SECURITIES_T1
NOTE 2 - INVESTMENT SECURITIES - (Table 1) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Held-to-Maturity: | ' | ' |
Amortized Cost | $6 | $6 |
Government sponsored agency mortgage-backed securities | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 261,085 | 239,543 |
Gross Unrealized Gains | 3,566 | 6,152 |
Gross Unrealized Losses | -4,308 | -64 |
Available for sale securities | 260,343 | 245,631 |
Held-to-Maturity: | ' | ' |
Amortized Cost | 6 | 6 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 6 | 6 |
Obligations of U.S. government sponsored agencies | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 19,669 | 21,003 |
Gross Unrealized Gains | ' | 115 |
Gross Unrealized Losses | -991 | ' |
Available for sale securities | 18,678 | 21,118 |
Obligations of state and political subdivisions | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 6,692 | 10,698 |
Gross Unrealized Gains | 192 | 499 |
Gross Unrealized Losses | -31 | ' |
Available for sale securities | 6,853 | 11,197 |
Corporate debt securities | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 6,000 | 6,000 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | -1,230 | -1,244 |
Available for sale securities | 4,770 | 4,756 |
Equity securities | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 3,000 | 3,000 |
Gross Unrealized Gains | ' | 113 |
Gross Unrealized Losses | -17 | ' |
Available for sale securities | 2,983 | 3,113 |
Available-for-Sale | ' | ' |
Available-for-Sale: | ' | ' |
Amortized Cost | 296,446 | 280,244 |
Gross Unrealized Gains | 3,758 | 6,879 |
Gross Unrealized Losses | -6,577 | -1,308 |
Available for sale securities | $293,627 | $285,815 |
NOTE_2_INVESTMENT_SECURITIES_T2
NOTE 2 - INVESTMENT SECURITIES - (Table 2) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Obligations of U.S. government sponsored agencies | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | $18,678 | ' |
Unrealized Losses | -991 | ' |
Obligations of U.S. government sponsored agencies | Investment Securities less than twelve Months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 18,678 | ' |
Unrealized Losses | -991 | ' |
Obligations of state and political subdivisions | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 1,151 | ' |
Unrealized Losses | -31 | ' |
Obligations of state and political subdivisions | Investment Securities less than twelve Months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 1,151 | ' |
Unrealized Losses | -31 | ' |
Government sponsored agency mortgage-backed securities | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 138,511 | 34,878 |
Unrealized Losses | -4,308 | -64 |
Government sponsored agency mortgage-backed securities | Investment Securities less than twelve Months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 138,511 | 34,878 |
Unrealized Losses | -4,308 | -64 |
Corporate debt securities | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 4,770 | 4,756 |
Unrealized Losses | -1,230 | -1,244 |
Corporate debt securities | Investment Securities more than twelve months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 4,770 | 4,756 |
Unrealized Losses | -1,230 | -1,244 |
Equity securities | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 2,983 | ' |
Unrealized Losses | -17 | ' |
Equity securities | Investment Securities less than twelve Months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 2,983 | ' |
Unrealized Losses | -17 | ' |
Securities Investment | Investment Securities less than twelve Months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 161,323 | 34,878 |
Unrealized Losses | -5,347 | -64 |
Securities Investment | Investment Securities more than twelve months | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 4,770 | 4,756 |
Unrealized Losses | -1,230 | -1,244 |
Securities Investment | Securities Investment | ' | ' |
Description of Securities | ' | ' |
Estimated Fair Value | 166,093 | 39,634 |
Unrealized Losses | ($6,577) | ($1,308) |
NOTE_2_INVESTMENT_SECURITIES_D
NOTE 2 - INVESTMENT SECURITIES (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Available-for-sale Securities, Gross Realized Gains | $5,000 | $697,000 | $548,000 | $1,665,000 | ' |
Proceeds from Sale of Available-for-sale Securities | 1,615,000 | 32,140,000 | 18,700,000 | 110,579,000 | ' |
Available-for-sale Securities, Gross Realized Losses | ' | ' | ' | 9,000 | ' |
Financial Instruments, Owned and Pledged as Collateral, at Fair Value | 285,444,000 | ' | 285,444,000 | ' | 276,308,000 |
Financial Instruments, Owned, Corporate Debt, at Fair Value | $3,000,000 | ' | $3,000,000 | ' | ' |
Corporate debt securities | Investment Securities more than twelve months | ' | ' | ' | ' | ' |
Number of corporate debt securities | 2 | ' | 2 | ' | 2 |
NOTE_3_LOANS_Table_1_Detail
NOTE 3 - LOANS - (Table 1) (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Allowance for loan losses | ($9,312,000) | ($9,527,000) | ($10,458,000) | ($11,427,000) | ($11,732,000) | ($12,656,000) |
Total loans, net | 499,780,000 | ' | 481,753,000 | ' | ' | ' |
Commercial | ' | ' | ' | ' | ' | ' |
Commercial | 48,903,000 | ' | 46,078,000 | ' | ' | ' |
Real estate - commercial | ' | ' | ' | ' | ' | ' |
Real estate - commercial | 328,967,000 | ' | 295,630,000 | ' | ' | ' |
Real estate construction | ' | ' | ' | ' | ' | ' |
Real estate - construction | 19,281,000 | ' | 23,003,000 | ' | ' | ' |
Real estate - mortgage | ' | ' | ' | ' | ' | ' |
Real estate - mortgage | 65,790,000 | ' | 74,353,000 | ' | ' | ' |
Installment | ' | ' | ' | ' | ' | ' |
Installment | 5,560,000 | ' | 6,689,000 | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' |
Other | 40,771,000 | ' | 45,941,000 | ' | ' | ' |
Gross loans | ' | ' | ' | ' | ' | ' |
Gross loans | 509,272,000 | ' | 491,694,000 | ' | ' | ' |
Deferred loan (fees) costs, net | ' | ' | ' | ' | ' | ' |
Deferred loan (fees) costs, net | -180,000 | ' | 517,000 | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | -9,312,000 | ' | -10,458,000 | ' | ' | ' |
Total | ' | ' | ' | ' | ' | ' |
Total loans, net | $499,780,000 | ' | $481,753,000 | ' | ' | ' |
NOTE_3_LOANS_Table_2_Detail
NOTE 3 - LOANS - (Table 2) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
With allocated allowance | ' | ' | ' |
Related Allowance | $180 | $189 | $467 |
Total Impaired Loans | 180 | 189 | 467 |
Commercial | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 566 | 585 | ' |
Unpaid Principal Balance | 587 | 586 | ' |
With allocated allowance | ' | ' | ' |
Recorded Investment | 16 | ' | ' |
Unpaid Principal Balance | 16 | ' | ' |
Related Allowance | 16 | ' | ' |
Total Impaired Loans | 16 | ' | ' |
Real estate - commercial | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 4,283 | 2,778 | ' |
Unpaid Principal Balance | 4,348 | 2,974 | ' |
With allocated allowance | ' | ' | ' |
Recorded Investment | ' | 184 | ' |
Unpaid Principal Balance | ' | 217 | ' |
Related Allowance | ' | 171 | ' |
Total Impaired Loans | ' | 171 | ' |
Real estate - construction | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 843 | 1,210 | ' |
Unpaid Principal Balance | 864 | 1,273 | ' |
With allocated allowance | ' | ' | ' |
Recorded Investment | ' | 161 | ' |
Unpaid Principal Balance | ' | 161 | ' |
Related Allowance | ' | 18 | ' |
Total Impaired Loans | ' | 18 | ' |
Real estate - mortgage | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 1,171 | 684 | ' |
Unpaid Principal Balance | 1,194 | 736 | ' |
With allocated allowance | ' | ' | ' |
Recorded Investment | 164 | ' | ' |
Unpaid Principal Balance | 164 | ' | ' |
Related Allowance | 164 | ' | ' |
Total Impaired Loans | 164 | ' | ' |
Installment | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 110 | 122 | ' |
Unpaid Principal Balance | 127 | 138 | ' |
Other | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 311 | 111 | ' |
Unpaid Principal Balance | 326 | 120 | ' |
Total With No Allocated Allowance | ' | ' | ' |
With no allocated allowance | ' | ' | ' |
Recorded Investment | 7,284 | 5,490 | ' |
Unpaid Principal Balance | 7,446 | 5,827 | ' |
Total With Allocated Allowance | ' | ' | ' |
With allocated allowance | ' | ' | ' |
Recorded Investment | 180 | 345 | ' |
Unpaid Principal Balance | 180 | 378 | ' |
Related Allowance | 180 | 189 | ' |
Total Impaired Loans | 180 | 189 | ' |
Total | ' | ' | ' |
With allocated allowance | ' | ' | ' |
Related Allowance | 180 | 189 | ' |
Total Impaired Loans | 7,464 | 5,835 | ' |
Total Impaired Loans | 7,626 | 6,205 | ' |
Total Impaired Loans | $180 | $189 | ' |
NOTE_3_LOANS_Table_3_Detail
NOTE 3 - LOANS - (Table 3) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Commercial | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | $372 | $938 | $430 | $1,043 |
Interest Income Recognized | ' | ' | ' | ' |
Real estate - commercial | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 4,704 | 7,780 | 4,722 | 7,942 |
Interest Income Recognized | 21 | ' | 35 | ' |
Real estate - construction | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 869 | 1,766 | 874 | 1,780 |
Interest Income Recognized | 6 | ' | 19 | ' |
Real estate - mortgage | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 1,393 | 986 | 1,404 | 1,006 |
Interest Income Recognized | 13 | ' | 33 | ' |
Installment | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 138 | 123 | 140 | 133 |
Interest Income Recognized | ' | ' | ' | ' |
Other | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 327 | 277 | 330 | 287 |
Interest Income Recognized | ' | ' | ' | ' |
Total | ' | ' | ' | ' |
Average Recorded Investment Impaired Loans | 7,803 | 11,870 | 7,900 | 12,191 |
Interest Income Recognized | $40 | ' | $87 | ' |
NOTE_3_LOANS_Table_4_Detail
NOTE 3 - LOANS - (Table 4) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Nonaccrual Loans | ' | ' |
Nonaccrual loans | $5,216 | $5,835 |
Nonaccrual loans to total gross loans | 1.02% | 1.19% |
Nonperforming Loans Accruing Interest | ' | ' |
Nonperforming loans to total gross loans | 1.02% | 1.19% |
Total | ' | ' |
Total nonperforming loans | $5,216 | $5,835 |
NOTE_3_LOANS_Table_5_Detail
NOTE 3 - LOANS - (Table 5) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commercial | ' | ' |
Current | $48,168 | $45,473 |
30-89 Days Past Due | 153 | 20 |
Nonaccural | 582 | 585 |
Total Impaired Loans | 48,903 | 46,078 |
Real estate commercial | ' | ' |
Current | 325,503 | 292,505 |
30-89 Days Past Due | 73 | 163 |
Nonaccural | 3,391 | 2,962 |
Total Impaired Loans | 328,967 | 295,630 |
Real estate construction | ' | ' |
Current | 18,843 | 21,436 |
30-89 Days Past Due | ' | 196 |
Nonaccural | 438 | 1,371 |
Total Impaired Loans | 19,281 | 23,003 |
Real estate - mortgage | ' | ' |
Current | 64,766 | 72,907 |
30-89 Days Past Due | 612 | 762 |
Nonaccural | 412 | 684 |
Total Impaired Loans | 65,790 | 74,353 |
Installment | ' | ' |
Current | 5,469 | 6,529 |
30-89 Days Past Due | 9 | 38 |
Nonaccural | 82 | 122 |
Total Impaired Loans | 5,560 | 6,689 |
Other Loans | ' | ' |
Current | 40,434 | 45,581 |
30-89 Days Past Due | 26 | 249 |
Nonaccural | 311 | 111 |
Total Impaired Loans | 40,771 | 45,941 |
Total | ' | ' |
Current | 503,183 | 484,431 |
30-89 Days Past Due | 873 | 1,428 |
Nonaccural | 5,216 | 5,835 |
Total Impaired Loans | $509,272 | $491,694 |
NOTE_3_LOANS_Table_6_Detail
NOTE 3 - LOANS - (Table 6) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Contract | Contract | Contract | Contract | |
Commercial | ' | ' | ' | ' |
Number of contracts | 2 | ' | 3 | 1 |
Pre-Modification Outstanding Recorded Investment | $140 | ' | $181 | $800 |
Post-Modification Outstanding Recorded Investment | 140 | ' | 181 | 800 |
Real estate - commercial | ' | ' | ' | ' |
Number of contracts | ' | ' | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | ' | ' | 438 | 269 |
Post-Modification Outstanding Recorded Investment | ' | ' | 438 | 269 |
Real estate construction | ' | ' | ' | ' |
Number of contracts | 1 | ' | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 114 | ' | 114 | ' |
Post-Modification Outstanding Recorded Investment | 114 | ' | 114 | ' |
Real estate-mortgage | ' | ' | ' | ' |
Number of contracts | 1 | 1 | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | 116 | 425 | 326 | 425 |
Post-Modification Outstanding Recorded Investment | 116 | 425 | 326 | 425 |
Installment | ' | ' | ' | ' |
Number of contracts | ' | ' | ' | 2 |
Pre-Modification Outstanding Recorded Investment | ' | ' | ' | 70 |
Post-Modification Outstanding Recorded Investment | ' | ' | ' | 70 |
Other | ' | ' | ' | ' |
Number of contracts | ' | 1 | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 26 | 47 | 26 |
Post-Modification Outstanding Recorded Investment | ' | $26 | $47 | $26 |
NOTE_3_LOANS_Table_7_Detail
NOTE 3 - LOANS - (Table 7) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Contract | Contract |
Commercial | Non Accruing TDRs | ' | ' |
Number of contracts | 4 | 1 |
Rate reduction | $16 | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | 566 | 529 |
Total | 582 | 529 |
Real estate - commercial | Accruing TDRs | ' | ' |
Number of contracts | 5 | 5 |
Rate reduction | ' | 202 |
Maturity extension | 197 | ' |
Rate reduction and maturity extension | 696 | 1,148 |
Total | 893 | 1,350 |
Real estate - commercial | Non Accruing TDRs | ' | ' |
Number of contracts | ' | ' |
Rate reduction | ' | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | ' | ' |
Total | ' | ' |
Real estate - construction | Accruing TDRs | ' | ' |
Number of contracts | 2 | 1 |
Rate reduction | ' | ' |
Maturity extension | 405 | 343 |
Rate reduction and maturity extension | ' | ' |
Total | 405 | 343 |
Real estate - construction | Non Accruing TDRs | ' | ' |
Number of contracts | 1 | 2 |
Rate reduction | ' | 327 |
Maturity extension | 114 | 71 |
Rate reduction and maturity extension | ' | ' |
Total | 114 | 398 |
Real estate-mortgage | Accruing TDRs | ' | ' |
Number of contracts | 3 | 2 |
Rate reduction | ' | ' |
Maturity extension | 294 | 298 |
Rate reduction and maturity extension | 628 | 423 |
Total | 922 | 721 |
Real estate-mortgage | Non Accruing TDRs | ' | ' |
Number of contracts | 1 | ' |
Rate reduction | ' | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | 116 | ' |
Total | 116 | ' |
Installment | Accruing TDRs | ' | ' |
Number of contracts | 1 | ' |
Rate reduction | ' | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | 28 | ' |
Total | 28 | ' |
Installment | Non Accruing TDRs | ' | ' |
Number of contracts | 3 | 4 |
Rate reduction | ' | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | 70 | 120 |
Total | 70 | 120 |
Other | Non Accruing TDRs | ' | ' |
Number of contracts | 2 | 1 |
Rate reduction | ' | ' |
Maturity extension | ' | ' |
Rate reduction and maturity extension | 70 | 25 |
Total | $70 | $25 |
NOTE_3_LOANS_Detail
NOTE 3 - LOANS (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Loans Receivable, Net [Abstract] | ' | ' | ' | ' | ' |
Loans Pledged as Collateral | $95,107 | ' | $95,107 | ' | $116,929 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 36 | 138 | 171 | 495 | ' |
Accruing TDRs | 2,248 | ' | 2,248 | ' | 2,414 |
Non-accrual TDRs | $952 | ' | $952 | ' | $1,072 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS2
NOTE 4 - ALLOWANCE FOR LOAN LOSSES - (Table 1) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | $9,527 | $11,732 | $10,458 | $12,656 | ' |
Charge-offs | -290 | -1,094 | -1,491 | -3,651 | ' |
Recoveries | 75 | 89 | 345 | 322 | ' |
Provision for loan losses | ' | 700 | ' | 2,100 | ' |
Balance at end of period | 9,312 | 11,427 | 9,312 | 11,427 | ' |
Reserve to impaired loans | 180 | 467 | 180 | 467 | 189 |
Reserve to non-impaired loans | 9,132 | 10,960 | 9,132 | 10,960 | 10,269 |
Commercial | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 847 | 1,260 | 843 | 1,333 | ' |
Charge-offs | -22 | -250 | -131 | -456 | ' |
Recoveries | 18 | 13 | 276 | 39 | ' |
Provision for loan losses | -93 | -261 | -238 | -154 | ' |
Balance at end of period | 750 | 762 | 750 | 762 | ' |
Reserve to impaired loans | 16 | ' | 16 | ' | ' |
Reserve to non-impaired loans | 734 | 762 | 734 | 762 | 843 |
Real estate commercial | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 5,487 | 6,586 | 6,295 | 7,528 | ' |
Charge-offs | ' | -113 | -438 | -1,730 | ' |
Recoveries | 48 | ' | 46 | 63 | ' |
Provision for loan losses | 138 | 435 | -230 | 1,047 | ' |
Balance at end of period | 5,673 | 6,908 | 5,673 | 6,908 | ' |
Reserve to impaired loans | ' | 417 | ' | 417 | 171 |
Reserve to non-impaired loans | 5,673 | 6,491 | 5,673 | 6,491 | 6,124 |
Real estate construction | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 439 | 1,387 | 690 | 1,039 | ' |
Charge-offs | -20 | -492 | -389 | -822 | ' |
Recoveries | ' | 43 | 3 | 80 | ' |
Provision for loan losses | 16 | -23 | 131 | 618 | ' |
Balance at end of period | 435 | 915 | 435 | 915 | ' |
Reserve to impaired loans | ' | ' | ' | ' | 18 |
Reserve to non-impaired loans | 435 | 915 | 435 | 915 | 672 |
Real estate mortgage | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 920 | 925 | 982 | 935 | ' |
Charge-offs | -34 | -143 | -236 | -333 | ' |
Recoveries | 1 | 1 | 3 | 37 | ' |
Provision for loan losses | -23 | 422 | 115 | 566 | ' |
Balance at end of period | 864 | 1,205 | 864 | 1,205 | ' |
Reserve to impaired loans | 164 | 50 | 164 | 50 | ' |
Reserve to non-impaired loans | 700 | 1,155 | 700 | 1,155 | 982 |
Installment | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 167 | 141 | 98 | 185 | ' |
Charge-offs | -40 | -48 | -68 | -190 | ' |
Recoveries | 8 | 29 | 17 | 94 | ' |
Provision for loan losses | 15 | ' | 103 | 33 | ' |
Balance at end of period | 150 | 122 | 150 | 122 | ' |
Reserve to impaired loans | ' | ' | ' | ' | ' |
Reserve to non-impaired loans | 150 | 122 | 150 | 122 | 98 |
Other | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 920 | 768 | 721 | 736 | ' |
Charge-offs | -174 | -48 | -229 | -120 | ' |
Recoveries | ' | 3 | ' | 9 | ' |
Provision for loan losses | 110 | 60 | 364 | 158 | ' |
Balance at end of period | 856 | 783 | 856 | 783 | ' |
Reserve to impaired loans | ' | ' | ' | ' | ' |
Reserve to non-impaired loans | 856 | 783 | 856 | 783 | 721 |
Unallocated | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' |
Balance at beginning of period | 747 | 665 | 829 | 900 | ' |
Charge-offs | ' | ' | ' | ' | ' |
Recoveries | ' | ' | ' | ' | ' |
Provision for loan losses | -163 | 67 | -245 | -168 | ' |
Balance at end of period | 584 | 732 | 584 | 732 | ' |
Reserve to impaired loans | ' | ' | ' | ' | ' |
Reserve to non-impaired loans | $584 | $732 | $584 | $732 | $829 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS3
NOTE 4 - ALLOWANCE FOR LOAN LOSSES - (Table 2) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total | Commercial | ' | ' |
Gross loans | $48,903 | $46,078 |
Total | Real estate commercial | ' | ' |
Gross loans | 328,967 | 295,630 |
Total | Real estate construction | ' | ' |
Gross loans | 19,281 | 23,003 |
Total | Real estate mortgage | ' | ' |
Gross loans | 65,790 | 74,353 |
Total | Installment | ' | ' |
Gross loans | 5,560 | 6,689 |
Total | Other | ' | ' |
Gross loans | 40,771 | 45,941 |
Total | Total | ' | ' |
Gross loans | 509,272 | 491,694 |
Impaired Loans | 7,464 | 5,835 |
Non-impaired loans | 501,808 | 485,859 |
Impaired Loans | Commercial | ' | ' |
Impaired Loans | 582 | 585 |
Impaired Loans | Real estate commercial | ' | ' |
Impaired Loans | 4,283 | 2,962 |
Impaired Loans | Real estate construction | ' | ' |
Impaired Loans | 843 | 1,371 |
Impaired Loans | Real estate mortgage | ' | ' |
Impaired Loans | 1,335 | 684 |
Impaired Loans | Installment | ' | ' |
Impaired Loans | 110 | 122 |
Impaired Loans | Other | ' | ' |
Impaired Loans | 311 | 111 |
Non-impaired loans | Commercial | ' | ' |
Non-impaired loans | 48,321 | 45,493 |
Non-impaired loans | Real estate commercial | ' | ' |
Non-impaired loans | 324,684 | 292,668 |
Non-impaired loans | Real estate construction | ' | ' |
Non-impaired loans | 18,438 | 21,632 |
Non-impaired loans | Real estate mortgage | ' | ' |
Non-impaired loans | 64,455 | 73,669 |
Non-impaired loans | Installment | ' | ' |
Non-impaired loans | 5,450 | 6,567 |
Non-impaired loans | Other | ' | ' |
Non-impaired loans | $40,460 | $45,830 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS4
NOTE 4 - ALLOWANCE FOR LOAN LOSSES - (Table 3) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Pass | ' | ' |
Commercial | $47,201,000 | $44,486,000 |
Real estate - commercial | 315,132,000 | 278,834,000 |
Real estate - construction | 18,843,000 | 21,386,000 |
Real estate - mortgage | 64,750,000 | 71,973,000 |
Installment | 5,448,000 | 6,562,000 |
Other | 40,263,000 | 45,658,000 |
Total | 491,637,000 | 468,899,000 |
Special Mention | ' | ' |
Commercial | 726,000 | 129,000 |
Real estate - commercial | 3,238,000 | ' |
Real estate - construction | ' | ' |
Real estate - mortgage | ' | ' |
Installment | ' | ' |
Other | ' | ' |
Total | 3,964,000 | 129,000 |
Substandard | ' | ' |
Commercial | 976,000 | 1,463,000 |
Real estate - commercial | 10,597,000 | 16,796,000 |
Real estate - construction | 438,000 | 1,617,000 |
Real estate - mortgage | 1,040,000 | 2,380,000 |
Installment | 112,000 | 127,000 |
Other | 508,000 | 283,000 |
Total | 13,671,000 | 22,666,000 |
Total | ' | ' |
Commercial | 48,903,000 | 46,078,000 |
Real estate - commercial | 328,967,000 | 295,630,000 |
Real estate - construction | 19,281,000 | 23,003,000 |
Real estate - mortgage | 65,790,000 | 74,353,000 |
Installment | 5,560,000 | 6,689,000 |
Other | 40,771,000 | 45,941,000 |
Total | $509,272,000 | $491,694,000 |
NOTE_4_ALLOWANCE_FOR_LOAN_LOSS5
NOTE 4 - ALLOWANCE FOR LOAN LOSSES (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ' |
Allowance for off-Balance Sheet Commitments | $146,000 | $143,000 |
NOTE_5_OTHER_REAL_ESTATE_OWNED2
NOTE 5 - OTHER REAL ESTATE OWNED - (Table 1) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Other Real Estate [Abstract] | ' | ' | ' |
Beginning Balance | $22,423 | $20,106 | $20,106 |
Properties transferred in | 818 | 7,484 | 12,239 |
Sales of property | -5,923 | ' | -6,889 |
Loss on sale or writedown of property | -2,273 | ' | -3,033 |
Total | $15,045 | ' | $22,423 |
NOTE_5_OTHER_REAL_ESTATE_OWNED3
NOTE 5 - OTHER REAL ESTATE OWNED - (Table 2) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Real Estate [Abstract] | ' | ' | ' | ' |
Operating expenses | $85 | $79 | $319 | $306 |
Provision for losses | 1,139 | 749 | 2,023 | 1,310 |
Net, loss (gain) on disposal | 2 | -11 | 250 | 177 |
Total other real estate owned expense | $1,226 | $817 | $2,592 | $1,793 |
NOTE_5_OTHER_REAL_ESTATE_OWNED4
NOTE 5 - OTHER REAL ESTATE OWNED (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
Sonoma County | ||||
Property | ||||
Real Estate Properties [Line Items] | ' | ' | ' | ' |
Other real estate owned ("OREO") | $15,045,000 | $22,423,000 | $20,106,000 | ' |
Number of other real estate owned properties sold | ' | ' | ' | 8 |
Recorded value of other real estate owned properties | ' | ' | ' | $9,885,000 |
NOTE_6_SUBORDINATED_DEBENTURES2
NOTE 6 - SUBORDINATED DEBENTURES - (Table 1) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
North Valley Capital Trust's - Amount | $21,651 | $21,651 |
Debentures A | ' | ' |
North Valley Capital Trust's - Date Issued | '4/10/03 | '4/10/03 |
North Valley Capital Trust's - Maturity | 24-Apr-33 | 24-Apr-33 |
North Valley Capital Trust's - Fixed or Variable Rate | 'Variable | 'Variable |
North Valley Capital Trust's - Current Variable Rate | 3.52% | 3.52% |
North Valley Capital Trust's - Rate Index | 'LIBOR + 3.25% | 'LIBOR + 3.25% |
North Valley Capital Trust's - Redemption Date | '4/24/08 | '4/24/08 |
North Valley Capital Trust's - Amount | 6,186 | 6,186 |
Debentures B | ' | ' |
North Valley Capital Trust's - Date Issued | '5/5/04 | '5/5/04 |
North Valley Capital Trust's - Maturity | 24-Apr-34 | 24-Apr-34 |
North Valley Capital Trust's - Fixed or Variable Rate | 'Variable | 'Variable |
North Valley Capital Trust's - Current Variable Rate | 3.06% | 3.06% |
North Valley Capital Trust's - Rate Index | 'LIBOR + 2.80% | 'LIBOR + 2.80% |
North Valley Capital Trust's - Redemption Date | '7/23/09 | '7/23/09 |
North Valley Capital Trust's - Amount | 5,155 | 5,155 |
Debentures C | ' | ' |
North Valley Capital Trust's - Date Issued | '12/29/05 | '12/29/05 |
North Valley Capital Trust's - Maturity | 15-Mar-36 | 15-Mar-36 |
North Valley Capital Trust's - Fixed or Variable Rate | 'Variable | 'Variable |
North Valley Capital Trust's - Current Variable Rate | 1.58% | 1.58% |
North Valley Capital Trust's - Rate Index | 'LIBOR + 1.33% | 'LIBOR + 1.33% |
North Valley Capital Trust's - Redemption Date | '3/15/11 | '3/15/11 |
North Valley Capital Trust's - Amount | $10,310 | $10,310 |
NOTE_6_SUBORDINATED_DEBENTURES3
NOTE 6 - SUBORDINATED DEBENTURES (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Subordinated Debt [Abstract] | ' | ' |
Proceeds from issuance of trust preferred securities | $21,000,000 | ' |
Junior subordinated notes | 21,651,000 | ' |
Tier one risk based capital | $21,000,000 | $21,000,000 |
NOTE_7_INCOME_TAXES_Detail
NOTE 7 - INCOME TAXES (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Unrecognized tax benefits | $519,000 | ' | $519,000 | ' | $519,000 |
Provision for income taxes | 367,000 | -2,546,000 | 1,382,000 | -1,904,000 | ' |
Deferred tax asset valuation allowance | ' | 4,277,000 | ' | 4,277,000 | ' |
Increase in federal deferred tax liabilities | ' | 1,347,000 | ' | 1,347,000 | ' |
Deferred Tax Assets, Gross | $15,226,000 | ' | $15,226,000 | ' | $12,346,000 |
NOTE_8_PENSION_PLAN_BENEFITS_T1
NOTE 8 - PENSION PLAN BENEFITS - (Table 1) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' |
Service cost | $171 | $150 | $512 | $451 |
Interest cost | 93 | 84 | 279 | 251 |
Prior service amortization | 25 | 25 | 74 | 74 |
Recognized net actuarial loss | 48 | 10 | 146 | 30 |
Total components of net periodic cost | $337 | $269 | $1,011 | $806 |
NOTE_8_PENSION_PLAN_BENEFITS_T2
NOTE 8 - PENSION PLAN BENEFITS - (Table 2) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Total Liability of Pension Plan Benefits | $8,900 | $9,443 |
NOTE_8_PENSION_PLAN_BENEFITS_D
NOTE 8 - PENSION PLAN BENEFITS (Detail) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Pension paid to retired employees | $63,000 | $63,000 |
NOTE_9_STOCKBASED_COMPENSATION2
NOTE 9 - STOCK-BASED COMPENSATION - (Table 1) (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ' |
Weighted average grant date fair value per share of option granted (in dollars per share) | $9.53 | $6.28 |
Significant weighted average assumptions used in calculating fair value: | ' | ' |
Expected term | '6 years 3 months 26 days | '6 years 5 months 27 days |
Expected annual volatility | 60.00% | 59.00% |
Risk-free interest rate | 1.38% | 1.40% |
NOTE_9_STOCKBASED_COMPENSATION3
NOTE 9 - STOCK-BASED COMPENSATION - (Table 2) (Detail) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ' |
Outstanding at January 1, 2013 | 248,822 | ' |
Outstanding at January 1, 2013 (in dollars per share) | $29.40 | ' |
Outstanding at January 1, 2013 | '7 years | ' |
Outstanding at January 1, 2013 | '$9.97-$103.10 | ' |
Outstanding at January 1, 2013 (in dollars) | $1,160 | ' |
Granted | 114,234 | 77,908 |
Granted (in dollars per share) | $16.80 | ' |
Granted (in dollars per share) | $16.80 | ' |
Granted (in dollars) | 240 | ' |
Exercised | ' | ' |
Exercised (in dollars per share) | ' | ' |
Expired or Forfeited | -8,346 | ' |
Expired or Forfeited (in dollars per share) | $63.32 | ' |
Expired or Forfeited | '$23.95-$65.30 | ' |
Expired or Forfeited (in dollars per share) | ' | ' |
Outstanding at September 30, 2013 | 354,710 | ' |
Outstanding at September 30, 2013 (in dollars per share) | $24.55 | ' |
Outstanding at September 30, 2013 | '7 years | ' |
Outstanding at September 30, 2013 | '$9.97-$103.10 | ' |
Outstanding at September 30, 2013 (in dollars) | 1,400 | ' |
Fully vested and exercisable at September 30, 2013 | 130,008 | ' |
Fully vested and exercisable at September 30, 2013 (in dollars per share) | $42.10 | ' |
Fully vested and exercisable at September 30, 2013 | '5 years | ' |
Fully vested and exercisable at September 30, 2013 | '$9.97-$103.10 | ' |
Fully vested and exercisable at September 30, 2013 (in dollars) | 344 | ' |
Options expected to vest at September 30, 2013 | 224,702 | ' |
Options expected to vest at September 30, 2013 | '14.39 | ' |
Options expected to vest at September 30, 2013 | '9 years | ' |
Options expected to vest at September 30, 2013 | '$9.97-$23.95 | ' |
Options expected to vest at September 30, 2013 (in dollars) | $1,056 | ' |
NOTE_9_STOCKBASED_COMPENSATION4
NOTE 9 - STOCK-BASED COMPENSATION (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Director | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 601,925 | ' | 601,925 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 354,710 | ' | 354,710 | ' | 248,822 |
Stock Award Available Annually To Each Director For Retainer | 180 | ' | 180 | ' | ' |
Percentage of common stock outstanding | ' | ' | 2.00% | ' | ' |
Retainers Shares Awarded To Directors | 5,580 | ' | 5,580 | ' | ' |
Allocated Share-based Compensation Expense | $131,000 | $69,000 | $322,000 | $158,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 114,234 | 77,908 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 1,512,000 | ' | 1,512,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '3 years 10 months 24 days | ' | ' |
Number Of Directors | 8 | ' | ' | ' | ' |
Stock Award Available Annually To Directors For Retainer | 1,440 | ' | 1,440 | ' | ' |
Recognized Director Stock Grant Expense | $27,000 | ' | ' | ' | ' |
Stock Incentive Plan A | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 549,995 | ' | 549,995 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 51,930 | ' | 51,930 | ' | ' |
Shares available for future grants | 241,635 | ' | 241,635 | ' | ' |
Stock Incentive Plan B | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 302,780 | ' | 302,780 | ' | ' |
NOTE_10_ACCUMULATED_OTHER_COMP2
NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - (Table 1) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance | ($4,095) | $3,192 | $1,666 | $1,470 |
Net unrealized gains (losses) on securities available for sale, net of tax | 1,577 | 868 | -4,627 | 3,115 |
Reclassification adjustment for gains (losses) on securities, net of tax, | -3 | -411 | -323 | -977 |
Net gains (losses) arising during the period, net of tax | ' | 20 | 676 | 61 |
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | 43 | ' | 130 | ' |
Balance | -2,478 | 3,669 | -2,478 | 3,669 |
Net Unrealized Gains (Losses) on Securities | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance | -3,238 | 4,050 | 3,286 | 2,369 |
Net unrealized gains (losses) on securities available for sale, net of tax | 1,577 | 868 | -4,627 | 3,115 |
Reclassification adjustment for gains (losses) on securities, net of tax, | -3 | -411 | -323 | -977 |
Net gains (losses) arising during the period, net of tax | ' | ' | ' | ' |
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | ' | ' | ' | ' |
Balance | -1,664 | 4,507 | -1,664 | 4,507 |
Adjustments Related to Defined Benefit Pension Plan | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance | -857 | -858 | -1,620 | -899 |
Net unrealized gains (losses) on securities available for sale, net of tax | ' | ' | ' | ' |
Reclassification adjustment for gains (losses) on securities, net of tax, | ' | ' | ' | ' |
Net gains (losses) arising during the period, net of tax | ' | 20 | 676 | 61 |
Reclassification adjustment for amortization of prior service cost and net gain included in salaries and employee benefits, net of tax | 43 | ' | 130 | ' |
Balance | ($814) | ($838) | ($814) | ($838) |
NOTE_10_ACCUMULATED_OTHER_COMP3
NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Parentheticals (Table 1) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | ' | ' | ' | ' |
Net unrealized losses on securities available for sale, tax effect | $1,096 | $603 | ($3,216) | $2,164 |
Reclassification adjustment for gains on securities, tax effect | -2 | -286 | -225 | -679 |
Net losses arising during the period, tax effect | ' | 14 | 470 | 42 |
Reclassification adjustment for amortization of prior service cost and net gain included in net periodic pension cost, tax effect | $30 | ' | $90 | ' |
NOTE_10_ACCUMULATED_OTHER_COMP4
NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - (Table 2) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain (loss) on sales or calls of securities, net | ($5) | ($697) | ($548) | ($1,656) |
Salaries and employee benefits | 72 | ' | 220 | ' |
Amount Reclassified From Accumulated Other Comprehensive Income | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain (loss) on sales or calls of securities, net | 5 | 697 | 548 | 1,656 |
Salaries and employee benefits | -73 | ' | -220 | ' |
Total before tax | -68 | 697 | 328 | 1,656 |
Provision (Benefit) for income taxes | 28 | -286 | -135 | -679 |
Net of tax | ($40) | $411 | $193 | $977 |
NOTE_11_EARNINGS_PER_SHARE_Tab1
NOTE 11 - EARNINGS PER SHARE - (Table 1) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Calculation of basic earnings per share: | ' | ' | ' | ' |
Numerator - net income (in dollars) | $580 | $4,004 | $2,735 | $5,745 |
Denominator - | ' | ' | ' | ' |
Weighted average common shares outstanding (in shares) | 6,835 | 6,835 | 6,835 | 6,834 |
Basic earnings per share (in dollars per share) | $0.08 | $0.59 | $0.40 | $0.84 |
Calculation of diluted earnings per share: | ' | ' | ' | ' |
Numerator - net income (in dollars) | 580 | 4,004 | 2,735 | 5,745 |
Denominator - | ' | ' | ' | ' |
Weighted average common shares outstanding (in shares) | 6,835 | 6,835 | 6,835 | 6,834 |
Dilutive effect of outstanding options | $26 | $1 | $18 | $1 |
Weighted average common shares outstanding and common stock equivalents (in shares) | 6,861 | 6,836 | 6,853 | 6,835 |
Diluted earnings per share (in dollars per share) | $0.08 | $0.59 | $0.40 | $0.84 |
NOTE_11_EARNINGS_PER_SHARE_Det
NOTE 11 - EARNINGS PER SHARE (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 211,802 | 249,164 | 214,302 | 249,164 |
NOTE_12_COMMITMENTS_AND_CONTIN1
NOTE 12 - COMMITMENTS AND CONTINGENCIES (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 26, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Board of directors | Collateralized Debt Obligations | Commercial Loan | Commercial Loan | Real Estate Lines Of Credit | Real Estate Lines Of Credit | |||
Common stock | ||||||||
Letters of Credit Outstanding, Amount | $5,003,000 | $4,713,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | 39,048,000 | 47,350,000 | 35,855,000 | 31,925,000 |
Reserve For Unfunded Commitments | 146,000 | 143,000 | ' | ' | ' | ' | ' | ' |
Portion Of Loan Portfolio Collateralized By Real Estate | ' | ' | ' | 81.00% | ' | ' | ' | ' |
Construction Loan | ' | ' | ' | 19,281,000 | ' | ' | ' | ' |
Loan Portfolio Percentage Of Construction Loans | ' | ' | ' | 4.00% | ' | ' | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | ' | ' | ' | 328,967,000 | ' | ' | ' | ' |
Portion Of Loan Portfolio Commercial Loans Secured By Real Estate | ' | ' | ' | 65.00% | ' | ' | ' | ' |
Mortgage Loans on Real Estate | ' | ' | ' | 65,790,000 | ' | ' | ' | ' |
Portion Of Total Loan Portfolio | ' | ' | ' | 13.00% | ' | ' | ' | ' |
Reserves for anticipated settlement | $1,260,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding shares to be repurchase, Authorized | ' | ' | 5.00% | ' | ' | ' | ' | ' |
Repurchase of outstanding shares, Authorized (in shares) | ' | ' | 340,000 | ' | ' | ' | ' | ' |
NOTE_13_FAIR_VALUE_MEASUREMENT2
NOTE 13 - FAIR VALUE MEASUREMENTS - (Table 1) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | $293,627 | $285,815 |
Obligations of U.S. government sponsored agencies | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 18,678 | 21,118 |
Obligations of U.S. government sponsored agencies | Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 18,678 | 21,118 |
Obligations of state and political subdivisions | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 6,853 | 11,197 |
Obligations of state and political subdivisions | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 6,853 | 11,197 |
Obligations of state and political subdivisions | Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 6,853 | 11,197 |
Government sponsored agency mortgage-backed securities | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 260,343 | 245,631 |
Government sponsored agency mortgage-backed securities | Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 260,343 | 245,631 |
Corporate debt securities | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 4,770 | 4,756 |
Corporate debt securities | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 4,770 | 4,756 |
Corporate debt securities | Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 4,770 | 4,756 |
Equity securities | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 2,983 | 3,113 |
Equity securities | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 2,983 | 3,113 |
Equity securities | Level 2 | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | 2,983 | 3,113 |
Total | Total | ' | ' |
Available-for-sale securities: | ' | ' |
Available for sale securities | $293,627 | $285,815 |
NOTE_13_FAIR_VALUE_MEASUREMENT3
NOTE 13 - FAIR VALUE MEASUREMENTS - (Table 2) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Commercial | Commercial | Commercial | Commercial | Real estate - commercial | Real estate - commercial | Real estate - commercial | Real estate - commercial | Real estate - commercial | Real estate - commercial | Real estate - commercial | Real estate - construction | Real estate - construction | Real estate - construction | Real estate - construction | Real estate - construction | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Real estate - other | Real estate - other | Real estate - other | Real estate - other | Real estate - other | Real estate - other | Installment | Installment | Installment | Installment | Installment | Installment | |
Real estate - construction | Real estate - construction | Real estate - mortgage | Real estate - mortgage | Real estate - construction | Real estate - construction | Real estate - mortgage | Real estate - mortgage | Real estate - commercial | Real estate - commercial | Real estate - construction | Real estate - construction | Real estate - construction | Real estate - construction | Real estate - mortgage | Real estate - mortgage | Real estate - mortgage | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Total Losses/Gains | Total Losses/Gains | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Total Losses/Gains | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Total Losses/Gains | Total Losses/Gains | Total Losses/Gains | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Total Losses/Gains | Total Losses/Gains | Estimate Of Fair Value, Fair Value Disclosure | Estimate Of Fair Value, Fair Value Disclosure | Level 3 | Level 3 | Total Losses/Gains | Total Losses/Gains | |||||||||
Impaired loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets measured at fair value on a nonrecurring basis | $3,206 | $11,058 | $1,644 | $7,360 | $219 | $184 | $3,206 | $11,058 | $1,644 | $7,360 | $219 | $184 | $1,207 | $1,256 | $2,630 | $3,058 | $92 | $92 | $1,100 | $657 | $1,618 | $790 | $39 | $39 | $140 | $585 | $585 | $16 | $16 | $609 | $2,222 | $609 | $2,222 | $431 | $239 | $1,887 | $438 | $143 | $438 | $143 | $357 | $116 | $464 | $116 | $464 | $76 | $272 | $149 | $171 | $25 | $171 | $25 | $34 | $71 | $9 | $75 | $9 | $75 | $18 | $18 |
NOTE_13_FAIR_VALUE_MEASUREMENT4
NOTE 13 - FAIR VALUE MEASUREMENTS - (Table 3) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | $3,206 | $11,058 |
Estimate Of Fair Value, Fair Value Disclosure | Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 219 | 184 |
Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 3,206 | 11,058 |
Level 3 | Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 219 | 184 |
Commercial | Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | ' | 585 |
Commercial | Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | ' | 585 |
Real estate - commercial | Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 609 | 2,222 |
Real estate - commercial | Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 609 | 2,222 |
Real estate - mortgage | Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 116 | 464 |
Real estate - mortgage | Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 116 | 464 |
Installment | Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 9 | 75 |
Installment | Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 9 | 75 |
Real estate - other | Estimate Of Fair Value, Fair Value Disclosure | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | 171 | 25 |
Real estate - other | Level 3 | ' | ' |
Impaired loans: | ' | ' |
Assets Measured at Fair Value Disclosure Nonrecurring | $171 | $25 |
NOTE_13_FAIR_VALUE_MEASUREMENT5
NOTE 13 - FAIR VALUE MEASUREMENTS - (Table 4) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Real estate - commercial | ' | ' |
Impaired loans: | ' | ' |
Fair Value | $609 | $2,222 |
Valuation Techniques | 'Comparable sales approach | 'Comparable sales approach |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | 'Discount adjustment for differences between comparable sales |
Real estate - construction | ' | ' |
Impaired loans: | ' | ' |
Fair Value | 438 | 143 |
Valuation Techniques | 'Comparable sales approach | 'Comparable sales approach |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | 'Discount adjustment for differences between comparable sales |
Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Fair Value | 116 | 464 |
Valuation Techniques | 'Comparable sales approach | 'Comparable sales approach |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | 'Discount adjustment for differences between comparable sales |
Weighted Average | Real estate - commercial | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '6% to 11% (9%) | '6% to 11% (9%) |
Weighted Average | Real estate - construction | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '2% to 3% (3%) | '2% to 3% (3%) |
Weighted Average | Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '6% to 11% (9%) | '6% to 11% (9%) |
Impaired Loans | Real estate - other | ' | ' |
Impaired loans: | ' | ' |
Fair Value | 171 | ' |
Valuation Techniques | 'Comparable sales approach | ' |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | ' |
Impaired Loans | Weighted Average | Real estate - other | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '6% to 11% (9%) | ' |
OREO | Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Fair Value | 219 | ' |
Valuation Techniques | 'Comparable sales approach | ' |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | ' |
OREO | Real estate - commercial | ' | ' |
Impaired loans: | ' | ' |
Fair Value | ' | 7,360 |
Valuation Techniques | ' | 'Comparable sales approach |
Unobservable Inputs | ' | 'Discount adjustment for differences between comparable sales |
OREO | Real estate - construction | ' | ' |
Impaired loans: | ' | ' |
Fair Value | $1,644 | $184 |
Valuation Techniques | 'Comparable sales approach | 'Comparable sales approach |
Unobservable Inputs | 'Discount adjustment for differences between comparable sales | 'Discount adjustment for differences between comparable sales |
OREO | Weighted Average | Real estate - mortgage | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '6% to 11% (9%) | ' |
OREO | Weighted Average | Real estate - commercial | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | ' | '0% to 6% (6%) |
OREO | Weighted Average | Real estate - construction | ' | ' |
Impaired loans: | ' | ' |
Range (Weighted Average) | '0% to 11% (9%) | '6% to 11% (9%) |
NOTE_13_FAIR_VALUE_MEASUREMENT6
NOTE 13 - FAIR VALUE MEASUREMENTS - (Table 5) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying (Reported) Amount, Fair Value Disclosure | ' | ' |
FINANCIAL ASSETS | ' | ' |
Cash and due from banks | $23,780 | $22,654 |
Federal funds sold | 2,345 | 15,865 |
Time deposits at other financial institutions | 2,219 | 2,219 |
FHLB, FRB and other securities | 8,402 | 8,313 |
Securities: | ' | ' |
Available-for-sale | 293,627 | 285,815 |
Held-to-maturity | 6 | 6 |
Loans | 499,780 | 481,753 |
Accrued interest receivable | 2,166 | 2,217 |
Deposits: | ' | ' |
Nonmaturity deposits | 626,157 | 596,204 |
Time deposits | 153,613 | 172,376 |
Subordinated debentures | 21,651 | 21,651 |
Accrued interest payable | 110 | 136 |
Level 1 | ' | ' |
FINANCIAL ASSETS | ' | ' |
Cash and due from banks | 23,780 | 22,654 |
Federal funds sold | 2,345 | 15,865 |
Deposits: | ' | ' |
Nonmaturity deposits | 626,157 | 596,204 |
Accrued interest payable | 2 | 2 |
Level 2 | ' | ' |
FINANCIAL ASSETS | ' | ' |
Time deposits at other financial institutions | 2,219 | 2,219 |
Securities: | ' | ' |
Available-for-sale | 293,627 | 285,815 |
Held-to-maturity | 6 | 6 |
Accrued interest receivable | 736 | 767 |
Deposits: | ' | ' |
Time deposits | 153,798 | 172,805 |
Accrued interest payable | 31 | 54 |
Level 3 | ' | ' |
Securities: | ' | ' |
Loans | 513,426 | 500,689 |
Accrued interest receivable | 1,430 | 1,450 |
Deposits: | ' | ' |
Subordinated debentures | 7,927 | 9,018 |
Accrued interest payable | 77 | 80 |
Total | ' | ' |
FINANCIAL ASSETS | ' | ' |
Cash and due from banks | 23,780 | 22,654 |
Federal funds sold | 2,345 | 15,865 |
Time deposits at other financial institutions | 2,219 | 2,219 |
Securities: | ' | ' |
Available-for-sale | 293,627 | 285,815 |
Held-to-maturity | 6 | 6 |
Loans | 513,426 | 500,689 |
Accrued interest receivable | 2,166 | 2,217 |
Deposits: | ' | ' |
Nonmaturity deposits | 626,157 | 596,204 |
Time deposits | 153,798 | 172,805 |
Subordinated debentures | 7,927 | 9,018 |
Accrued interest payable | $110 | $136 |