Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 05, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | FIRST MID ILLINOIS BANCSHARES INC | ||
Entity Central Index Key | 700565 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 7,017,236 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $70,804,295 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and due from banks: | ||
Non-interest bearing | $40,716 | $33,453 |
Interest bearing | 10,520 | 31,152 |
Federal funds sold | 494 | 497 |
Cash and cash equivalents | 51,730 | 65,102 |
Investment securities: | ||
Available-for-sale, at fair value | 377,856 | 488,724 |
Held-to-maturity, at amortized cost (estimated fair value of $53,937 at December 31, 2014 and $0 at December 31, 2013) | 53,650 | 0 |
Loans held for sale | 1,958 | 514 |
Loans | 1,060,448 | 982,290 |
Less allowance for loan losses | -13,682 | -13,249 |
Net loans | 1,046,766 | 969,041 |
Interest receivable | 6,828 | 6,614 |
Other real estate owned | 263 | 568 |
Premises and equipment, net | 27,352 | 28,578 |
Goodwill, net | 25,753 | 25,753 |
Intangible assets, net | 1,844 | 2,487 |
Other assets | 13,103 | 18,117 |
Total assets | 1,607,103 | 1,605,498 |
Deposits: | ||
Non-interest bearing | 222,116 | 235,448 |
Interest bearing | 1,049,961 | 1,052,168 |
Total deposits | 1,272,077 | 1,287,616 |
Repurchase agreements with customers | 121,869 | 119,187 |
Interest payable | 285 | 277 |
Other borrowings | 20,000 | 20,000 |
Junior subordinated debentures | 20,620 | 20,620 |
Dividends payable | 530 | 1,140 |
Other liabilities | 6,806 | 7,277 |
Total liabilities | 1,442,187 | 1,456,117 |
Stockholders' Equity | ||
Convertible preferred stock, no par value; authorized 1,000,000 shares; issued 5,500 shares in 2014 and 10,427 shares in 2013 | 27,400 | 52,035 |
Common stock, $4 par value; authorized 18,000,000 shares; issued 7,529,815 shares in 2014 and 7,797,597 shares in 2013 | 32,119 | 31,190 |
Additional paid-in capital | 55,607 | 33,911 |
Retained earnings | 61,956 | 86,578 |
Deferred compensation | 3,329 | 2,989 |
Accumulated other comprehensive loss | -875 | -8,380 |
Less treasury stock at cost, 496,497 shares in 2014 and 1,913,817 shares in 2013 | -14,620 | -48,942 |
Total stockholders’ equity | 164,916 | 149,381 |
Total liabilities and stockholders’ equity | $1,607,103 | $1,605,498 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Investment securities: | ||
Fair Value | $53,937 | $0 |
Stockholders Equity | ||
Convertible preferred stock, no par value (in dollars per share) | $0 | $0 |
Convertible preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Convertible preferred stock, issued (in shares) | 5,500 | 10,427 |
Common stock, par value (in dollars per share) | $4 | $4 |
Common stock, authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, issued (in shares) | 7,529,815 | 7,797,597 |
Treasury stock (in shares) | 496,497 | 1,913,817 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income: | |||
Interest and fees on loans | $44,799 | $42,184 | $43,949 |
Taxable | 7,499 | 9,153 | 9,970 |
Exempt from federal income tax | 2,352 | 2,069 | 1,714 |
Interest on certificates of deposit investments | 0 | 14 | 57 |
Interest on federal funds sold | 1 | 6 | 37 |
Interest on deposits with other financial institutions | 83 | 33 | 40 |
Total interest income | 54,734 | 53,459 | 55,767 |
Interest expense: | |||
Interest on deposits | 2,351 | 2,703 | 4,843 |
Interest on securities sold under agreements to repurchase | 47 | 46 | 117 |
Interest on FHLB borrowings | 339 | 254 | 308 |
Interest on other borrowings | 1 | 9 | 326 |
Interest on subordinated debentures | 514 | 523 | 563 |
Total interest expense | 3,252 | 3,535 | 6,157 |
Net interest income | 51,482 | 49,924 | 49,610 |
Provision charged to expense | 629 | 2,193 | 2,647 |
Net interest income after provision for loan losses | 50,853 | 47,731 | 46,963 |
Other income: | |||
Trust revenues | 3,571 | 3,565 | 3,330 |
Brokerage commissions | 1,039 | 833 | 688 |
Insurance commissions | 1,796 | 1,638 | 1,813 |
Service charges | 5,264 | 4,865 | 4,808 |
Securities gains, net | 715 | 2,293 | 934 |
Total other-than-temporary impairment recoveries | 0 | 0 | 127 |
Portion of loss recognized in other comprehensive loss | 0 | 0 | 0 |
Other-than-temporary impairment recoveries recognized in earnings | 0 | 0 | 127 |
Mortgage banking revenue, net | 596 | 935 | 1,509 |
ATM / debit card revenue | 3,915 | 3,772 | 3,554 |
Other income | -1,473 | -1,440 | -1,547 |
Total other income | 18,369 | 19,341 | 18,310 |
Other expense: | |||
Salaries and employee benefits | 24,771 | 24,128 | 23,433 |
Net occupancy and equipment expense | 8,347 | 8,223 | 8,088 |
Net other real estate owned expense | 23 | 163 | 390 |
Amortization of intangible assets | 804 | 832 | 875 |
Amortization of intangible assets | 643 | 674 | 773 |
Stationery and supplies | 646 | 603 | 609 |
Legal and professional | 2,333 | 2,070 | 2,093 |
Marketing and donations | 1,015 | 1,221 | 1,014 |
Other expense | 5,925 | 5,590 | 5,563 |
Total other expense | 44,507 | 43,504 | 42,838 |
Income before income taxes | 24,715 | 23,568 | 22,435 |
Income taxes | 9,254 | 8,846 | 8,410 |
Net income | 15,461 | 14,722 | 14,025 |
Dividends on preferred shares | 4,152 | 4,417 | 4,252 |
Net income available to common stockholders | $11,309 | $10,305 | $9,773 |
Per share data: | |||
Basic net income per common share available to common stockholders | $1.88 | $1.74 | $1.62 |
Diluted earnings per common share | $1.85 | $1.73 | $1.62 |
Cash dividends declared per common share | $0.55 | $0.46 | $0.42 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net income | $15,461 | $14,722 | $14,025 |
Other Comprehensive Income [Abstract] | |||
Unrealized gains (losses) on available-for-sale securities, net of taxes of $(5,590), $7,362 and $(1,256), for the years ended December 31, 2014, 2013 and 2012, respectively | 8,751 | -11,525 | 1,966 |
Unamortized holding losses on held to maturity securities transferred from available for sale, net of taxes of $518 for December 31, 2014 and $0 for December 31, 2013 and 2012. | -810 | 0 | 0 |
Less: reclassification adjustment for realized gains included in net income net of taxes of $279, $894, $364, for the years ended December 31, 2014, 2013 and 2012, respectively | -436 | -1,399 | -570 |
Other comprehensive income (loss), net of taxes | 7,505 | -12,924 | 1,396 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $22,966 | $1,798 | $15,421 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Comprehensive Income [Abstract] | |||
Unrealized gains on available-for-sale securities, taxes | ($5,590) | $7,362 | ($1,256) |
Other Comprehensive Income Loss Transfers From Available For Sale To Held To Maturity, Tax | 518 | 0 | 0 |
Other Comprehensive Income Loss Reclassification Adjustment For Sale Or Writedown Of Securities Included In Net Income Tax | 279 | 894 | 364 |
Other Than Temporary Impairment Losses recognized in earnings, tax | 0 | 0 | 0 |
Unrealized gains (losses) on available-for-sale securities for which a portion of an other-than-temporary impairment has been recognized in income, taxes | $0 | $0 | $0 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Retained Earnings | Deferred Compensation | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
In Thousands | ||||||||
Balance at Dec. 31, 2011 | $140,967 | $43,785 | $30,212 | $29,368 | $71,739 | $2,904 | $3,148 | ($40,189) |
Net income | 14,025 | 14,025 | ||||||
Other Comprehensive Income (Loss), Net of Tax | 1,396 | 1,396 | ||||||
Dividends on preferred stock ($407, $850 and $424 per sh) | -4,252 | -4,252 | ||||||
Dividends on common stock ($.40, $.42 and $.46 per sh) | -2,526 | -2,526 | ||||||
Issuance of 3,850, 1,650 and 0 shares of preferred stock | 8,250 | 8,250 | ||||||
Issuance of 44,521, 53,944 and 46,920 common shares pursuant to the Dividend Reinvestment Plan | 1,244 | 216 | 1,028 | |||||
Issuance of 5,920, 6,048 and 12,700 common shares pursuant to the Deferred Compensation Plan | 131 | 24 | 107 | |||||
Issuance of 9,693, 19,366 and 9,747 common shares pursuant to the First Retirement & Savings Plan | 413 | 78 | 335 | |||||
Issuance of 4,436, 5,320 and 6,322 restricted common shares pursuant to the 2007 Stock Incentive Plan | 0 | 21 | 114 | 135 | ||||
Purchase of 128,073, 165,117 and 202,170 treasury shares | -3,912 | -3,912 | ||||||
Tax benefit related to Deferred Compensation Plan distributions | 29 | 29 | ||||||
Grant of restricted stock units pursuant to the 2007 Stock Incentive Plan | 61 | -61 | ||||||
Issuance of 11,392, 44,763 and 39,373 common shares pursuant to the exercise of stock options | 712 | 179 | 533 | |||||
Deferred Compensation | 0 | 145 | -145 | |||||
Tax benefit related to exercise of incentive stock options | 71 | 71 | ||||||
Tax benefit related to exercise of non-qualified stock options | 22 | 0 | 0 | 22 | 0 | 0 | 0 | 0 |
Vested stock options compensation expense | 17 | 17 | ||||||
Vested restricted shares/units compensation expense | 100 | 0 | 0 | 0 | 0 | 100 | 0 | 0 |
Balance at Dec. 31, 2012 | 156,687 | 52,035 | 30,730 | 31,685 | 78,986 | 2,953 | 4,544 | -44,246 |
Net income | 14,722 | 14,722 | ||||||
Other Comprehensive Income (Loss), Net of Tax | -12,924 | -12,924 | ||||||
Dividends on preferred stock ($407, $850 and $424 per sh) | -4,417 | -4,417 | ||||||
Dividends on common stock ($.40, $.42 and $.46 per sh) | -2,713 | -2,713 | ||||||
Issuance of 44,521, 53,944 and 46,920 common shares pursuant to the Dividend Reinvestment Plan | 1,066 | 187 | 879 | |||||
Issuance of 5,920, 6,048 and 12,700 common shares pursuant to the Deferred Compensation Plan | 277 | 51 | 226 | |||||
Issuance of 9,693, 19,366 and 9,747 common shares pursuant to the First Retirement & Savings Plan | 211 | 39 | 172 | |||||
Issuance of 4,436, 5,320 and 6,322 restricted common shares pursuant to the 2007 Stock Incentive Plan | -51 | 25 | 124 | -200 | ||||
Purchase of 128,073, 165,117 and 202,170 treasury shares | -4,619 | -4,619 | ||||||
Tax benefit related to Deferred Compensation Plan distributions | 88 | 88 | ||||||
Grant of restricted stock units pursuant to the 2007 Stock Incentive Plan | 52 | 52 | ||||||
Issuance of 11,392, 44,763 and 39,373 common shares pursuant to the exercise of stock options | 815 | 158 | 657 | |||||
Deferred Compensation | 0 | 77 | -77 | |||||
Tax benefit related to exercise of incentive stock options | 22 | 22 | ||||||
Tax benefit related to exercise of non-qualified stock options | 6 | 6 | ||||||
Vested restricted shares/units compensation expense | 159 | 159 | ||||||
Balance at Dec. 31, 2013 | 149,381 | 52,035 | 31,190 | 33,911 | 86,578 | 2,989 | -8,380 | -48,942 |
Net income | 15,461 | 15,461 | ||||||
Other Comprehensive Income (Loss), Net of Tax | 7,505 | 7,505 | ||||||
Dividends on preferred stock ($407, $850 and $424 per sh) | -4,152 | -4,152 | ||||||
Dividends on common stock ($.40, $.42 and $.46 per sh) | -3,540 | -3,540 | ||||||
Issuance of 44,521, 53,944 and 46,920 common shares pursuant to the Dividend Reinvestment Plan | 1,260 | 245 | 1,015 | |||||
Issuance of 5,920, 6,048 and 12,700 common shares pursuant to the Deferred Compensation Plan | 297 | 55 | 242 | |||||
Issuance of 9,693, 19,366 and 9,747 common shares pursuant to the First Retirement & Savings Plan | 188 | 36 | 152 | |||||
Issuance of 4,436, 5,320 and 6,322 restricted common shares pursuant to the 2007 Stock Incentive Plan | 43 | 35 | 153 | -145 | ||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 0 | -24,635 | 4,558 | 20,077 | 0 | 0 | 0 | 0 |
Purchase of 128,073, 165,117 and 202,170 treasury shares | -1,763 | -1,763 | ||||||
Treasury Stock, Retired, Cost Method, Amount | 0 | 0 | -4,000 | 0 | -32,391 | 36,391 | ||
Tax benefit related to Deferred Compensation Plan distributions | 101 | 101 | ||||||
Grant of restricted stock units pursuant to the 2007 Stock Incentive Plan | -44 | -44 | ||||||
Deferred Compensation | 0 | 306 | -306 | |||||
Vested restricted shares/units compensation expense | 179 | 179 | ||||||
Balance at Dec. 31, 2014 | $164,916 | $27,400 | $32,119 | $55,607 | $61,956 | $3,329 | ($875) | ($14,620) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Dividends on preferred stock (in dollars per share) | $398 | $424 | $850 |
Dividends on common stock (in dollars per share) | $0.55 | $0.46 | $0.42 |
Issuance of common shares pursuant to the Dividend Reinvestment Plan (in shares) | 61,308 | 46,920 | 53,944 |
Issuance of common shares pursuant to the Deferred Compensation Plan (in shares) | 13,724 | 12,700 | 6,048 |
Issuance of common shares pursuant to the First Retirement & Savings Plan (in shares) | 8,971 | 9,747 | 19,366 |
Issuance of restricted common shares pursuant to the 2007 Stock Incentive Plan (in shares) | 8,789 | 6,322 | 5,320 |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,139,426 | 0 | 0 |
number of preferred shares converted to common shares [Line Items] | 4,927 | 0 | 0 |
Purchase of treasury shares (in shares) | 86,681 | 202,170 | 165,117 |
Issuance of common shares pursuant to the exercise of stock options (in shares) | 0 | 39,373 | 44,763 |
Treasury Stock, Shares, Retired | 1,500,000 | 0 | 0 |
Preferred Stock | |||
Stock Issued During Period, Shares, New Issues | 0 | 0 | 1,650 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $15,461 | $14,722 | $14,025 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision charged to expense | 629 | 2,193 | 2,647 |
Depreciation, amortization and accretion, net | 3,960 | 4,661 | 5,403 |
Stock-based compensation expense | 376 | 339 | 227 |
Gains on investment securities, net | -715 | -2,293 | -934 |
Other-than-temporary impairment recoveries recognized in earnings | 0 | 0 | 127 |
Losses on sales of other real property owned, net | 33 | 32 | 268 |
Loss on write down of fixed assets | 90 | 36 | 33 |
Gains on sale of loans held for sale, net | -621 | -918 | -1,401 |
Deferred income taxes | 11 | 971 | 230 |
(Increase) decrease in accrued interest receivable | -214 | 161 | 277 |
Increase (decrease) in accrued interest payable | 8 | -64 | -169 |
Origination of loans held for sale | -45,430 | -65,172 | -99,923 |
Proceeds from sale of loans held for sale | 44,607 | 65,788 | 102,158 |
Decrease (increase) in other assets | 306 | 3,805 | -912 |
Increase (decrease) in other liabilities | -724 | 401 | 1,087 |
Net cash provided by operating activities | 17,777 | 24,662 | 22,889 |
Cash flows from investing activities: | |||
Proceeds from maturities of certificates of deposit investments | 0 | 6,665 | 12,982 |
Purchases of certificates of deposit investments | 0 | 0 | -6,416 |
Proceeds from sales of securities available-for-sale | 75,618 | 69,665 | 30,500 |
Proceeds from maturities of securities held-to-maturity | 57,133 | 134,300 | 235,013 |
Proceeds from maturities of securities available-for-sale | 0 | 0 | 51 |
Purchases of securities available-for-sale | -63,540 | -204,766 | -293,654 |
Net increase in loans | -78,698 | -73,203 | -54,539 |
Purchases of premises and equipment | -1,178 | -1,397 | -1,486 |
Proceeds from sales of other real property owned | 635 | 1,590 | 3,873 |
Net cash used in investing activities | -10,030 | -67,146 | -73,676 |
Cash flows from financing activities: | |||
Net increase (decrease) in deposits | -15,539 | 13,551 | 103,331 |
Increase (decrease) in repurchase agreements | 2,682 | 5,703 | -18,896 |
Proceeds from FHLB advances | 10,000 | 36,000 | 0 |
Repayment of FHLB advances | -10,000 | -21,000 | -14,750 |
Proceeds from short-term debt | 1,000 | 0 | 0 |
Repayment of short-term debt | -1,000 | 0 | -8,250 |
Proceeds from issuance of common stock | 25,123 | 1,303 | 1,255 |
Proceeds from issuance of preferred stock | 0 | 0 | 8,250 |
Conversion of preferred stock | -24,635 | 0 | 0 |
Purchase of treasury stock | -1,763 | -4,619 | -3,912 |
Dividends paid on preferred stock | -4,339 | -4,050 | -3,788 |
Dividends paid on common stock | -2,648 | -2,014 | -2,843 |
Net cash provided by (used in) financing activities | -21,119 | 24,874 | 60,397 |
Increase (decrease) in cash and cash equivalents | -13,372 | -17,610 | 9,610 |
Cash and cash equivalents at beginning of period | 65,102 | 82,712 | |
Cash and cash equivalents at end of period | 51,730 | 65,102 | 82,712 |
Cash paid during the period for: | |||
Interest | 3,244 | 3,599 | 6,326 |
Income taxes | 9,336 | 7,657 | 8,203 |
Supplemental disclosures of noncash investing and financing activities | |||
Securities transferred from available-for-sale to held-to-maturity | 53,594 | 0 | 0 |
Loans transferred to other real estate owned | 344 | 1,046 | 723 |
Dividends reinvested in common stock | 1,261 | 1,066 | 1,244 |
Net tax benefit related to option and deferred compensation plans | $101 | $117 | $123 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies | |||||||||||||
Basis of Accounting and Consolidation | ||||||||||||||
The accompanying consolidated financial statements include the accounts of First Mid-Illinois Bancshares, Inc. (“Company”) and its wholly-owned subsidiaries: Mid-Illinois Data Services, Inc. (“MIDS”), First Mid-Illinois Bank & Trust, N.A. (“First Mid Bank”) and The Checkley Agency, Inc. doing business as First Mid Insurance Group (“First Mid Insurance”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts in the prior year’s consolidated financial statements have been reclassified to conform to the 2014 presentation and there was no impact on net income or stockholders’ equity from these reclassifications. The Company operates as a single segment entity for financial reporting purposes. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America. Following is a description of the more significant of these policies. | ||||||||||||||
Use of Estimates | ||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company uses estimates and employs the judgments of management in determining the amount of its allowance for loan losses and income tax accruals and deferrals, in its fair value measurements of investment securities, and in the evaluation of impairment of loans, goodwill, investment securities, and fixed assets. As with any estimate, actual results could differ from these estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties. | ||||||||||||||
Fair Value Measurements | ||||||||||||||
The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Company estimates the fair value of a financial instrument using a variety of valuation methods. Where financial instruments are actively traded and have quoted market prices, quoted market prices are used for fair value. When the financial instruments are not actively traded, other observable market inputs, such as quoted prices of securities with similar characteristics, may be used, if available, to determine fair value. When observable market prices do not exist, the Company estimates fair value. The Company’s valuation methods consider factors such as liquidity and concentration concerns. Other factors such as model assumptions, market dislocations, and unexpected correlations can affect estimates of fair value. Imprecision in estimating these factors can impact the amount of revenue or loss recorded. | ||||||||||||||
At the end of each quarter, the Company assesses the valuation hierarchy for each asset or liability measured. From time to time, assets or liabilities may be transferred within hierarchy levels due to changes in availability of observable market inputs to measure fair value at the measurement date. Transfers into or out of hierarchy levels are based upon the fair value at the beginning of the reporting period. A more detailed description of the fair values measured at each level of the fair value hierarchy can be found in Note 11 – “Disclosures of Fair Values of Financial Instruments.” | ||||||||||||||
Cash and Cash Equivalents | ||||||||||||||
For purposes of reporting cash flows, cash equivalents include non-interest bearing and interest bearing cash and due from banks and federal funds sold. Generally, federal funds are sold for one-day periods. | ||||||||||||||
Certificates of Deposit Investments | ||||||||||||||
Certificates of deposit investments have original maturities of six to twelve months and are carried at cost. | ||||||||||||||
Investment Securities | ||||||||||||||
The Company classifies its investments in debt and equity securities as either held-to-maturity or available-for-sale in accordance with Statement of Financial Accounting Standards (SFAS) No. 115, “Accounting for Certain Investments in Debt and Equity Securities,” which was codified into ASC 320. Securities classified as held-to-maturity are recorded at cost or amortized cost. Available-for-sale securities are carried at fair value. Fair value calculations are based on quoted market prices when such prices are available. If quoted market prices are not available, estimates of fair value are computed using a variety of techniques, including extrapolation from the quoted prices of similar instruments or recent trades for thinly traded securities, fundamental analysis, or through obtaining purchase quotes. Due to the subjective nature of the valuation process, it is possible that the actual fair values of these investments could differ from the estimated amounts, thereby affecting the financial position, results of operations and cash flows of the Company. If the estimated value of investments is less than the cost or amortized cost, the Company evaluates whether an event or change in circumstances has occurred that may have a significant adverse effect on the fair value of the investment. If such an event or change has occurred and the Company determines that the impairment is other-than-temporary, a further determination is made as to the portion of impairment that is related to credit loss. The impairment of the investment that is related to the credit loss is expensed in the period in which the event or change occurred. The remainder of the impairment is recorded in other comprehensive income. | ||||||||||||||
Loans | ||||||||||||||
Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and the allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximate the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. | ||||||||||||||
The Company’s policy is to discontinue the accrual of interest income on any loan that becomes ninety days past due as to principal or interest or earlier when, in the opinion of management there is reasonable doubt as to the timely collection of principal or interest. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collectability of interest or principal. | ||||||||||||||
Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or market value, taking into consideration future commitments to sell the loans. | ||||||||||||||
Allowance for Loan Losses | ||||||||||||||
The Company believes the allowance for loan losses is the critical accounting policy that requires the most significant judgments and assumptions used in the preparation of its consolidated financial statements. An estimate of potential losses inherent in the loan portfolio is determined and an allowance for those losses is established by considering factors including historical loss rates, expected cash flows and estimated collateral values. In assessing these factors, the Company use organizational history and experience with credit decisions and related outcomes. The allowance for loan losses represents the best estimate of losses inherent in the existing loan portfolio. The allowance for loan losses is increased by the provision for loan losses charged to expense and reduced by loans charged off, net of recoveries. The Company evaluates the allowance for loan losses quarterly. If the underlying assumptions later prove to be inaccurate based on subsequent loss evaluations, the allowance for loan losses is adjusted. | ||||||||||||||
The Company estimates the appropriate level of allowance for loan losses by separately evaluating impaired and nonimpaired loans. A specific allowance is assigned to an impaired loan when expected cash flows or collateral do not justify the carrying amount of the loan. The methodology used to assign an allowance to a nonimpaired loan is more subjective. Generally, the allowance assigned to nonimpaired loans is determined by applying historical loss rates to existing loans with similar risk characteristics, adjusted for qualitative factors including the volume and severity of identified classified loans, changes in economic conditions, changes in credit policies or underwriting standards, and changes in the level of credit risk associated with specific industries and markets. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is continually assessed and adjusted when appropriate. Notwithstanding these procedures, there still exists the possibility that the assessment could prove to be significantly incorrect and that an immediate adjustment to the allowance for loan losses would be required. | ||||||||||||||
Premises and Equipment | ||||||||||||||
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization is charged to expense and determined principally by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for each major depreciable classification of premises and equipment are as follows: | ||||||||||||||
Buildings and improvements 20 years to 40 years | ||||||||||||||
Leasehold improvements 5 years to 15 years | ||||||||||||||
Furniture and equipment 3 years to 7 years | ||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||
The Company has goodwill from business combinations, identifiable intangible assets assigned to core deposit relationships and customer lists acquired, and intangible assets arising from the rights to service mortgage loans for others. | ||||||||||||||
Identifiable intangible assets generally arise from branches acquired that the Company accounted for as purchases. Such assets consist of the excess of the purchase price over the fair value of net assets acquired, with specific amounts assigned to core deposit relationships and customer lists primarily related to insurance agency. Intangible assets are amortized by the straight-line method over various periods up to fifteen years. Management reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | ||||||||||||||
In accordance with the provisions of SFAS No. 142, “Goodwill and Other Intangible Assets,” codified into ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2014 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets. | ||||||||||||||
Other Real Estate Owned | ||||||||||||||
Other real estate owned acquired through loan foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value temporarily declines subsequent to foreclosure, a valuation allowance is recorded through noninterest expense. Operating costs associated with the assets after acquisition are also recorded as noninterest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other noninterest expense. | ||||||||||||||
Federal Home Loan Bank Stock | ||||||||||||||
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula. | ||||||||||||||
Income Taxes | ||||||||||||||
The Company and its subsidiaries file consolidated federal and state income tax returns with each organization computing its taxes on a separate company basis. Amounts provided for income tax expense are based on income reported for financial statement purposes rather than amounts currently payable under tax laws. | ||||||||||||||
Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences existing between the financial statement carrying amounts of assets and liabilities and their respective tax basis, as well as operating loss and tax credit carry forwards. To the extent that current available evidence about the future raises doubt about the realization of a deferred tax asset, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an increase or decrease in income tax expense in the period in which such change is enacted. | ||||||||||||||
Additionally, the Company reviews its uncertain tax positions annually under FASB Interpretation No. 48 (FIN No. 48), “Accounting for Uncertainty in Income Taxes,” codified within ASC 740. An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount actually recognized is the largest amount of tax benefit that is greater than 50% likely to be recognized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. A significant amount of judgment is applied to determine both whether the tax position meets the "more likely than not" test as well as to determine the largest amount of tax benefit that is greater than 50% likely to be recognized. Differences between the position taken by management and that of taxing authorities could result in a reduction of a tax benefit or increase to tax liability, which could adversely affect future income tax expense. | ||||||||||||||
Trust Department Assets | ||||||||||||||
Assets held in fiduciary or agency capacities are not included in the consolidated balance sheets since such items are not assets of the Company or its subsidiaries. Fees from trust activities are recorded on a cash basis over the period in which the service is provided. Fees are a function of the market value of assets managed and administered, the volume of transactions, and fees for other services rendered, as set forth in the underlying client agreement with the Trust & Wealth Management Division of First Mid Bank. This revenue recognition involves the use of estimates and assumptions, including components that are calculated based on asset valuations and transaction volumes. Any out of pocket expenses or services not typically covered by the fee schedule for trust activities are charged directly to the trust account on a gross basis as trust revenue is incurred. | ||||||||||||||
At December 31, 2014, the Company managed or administered 1,478 accounts with assets totaling approximately $757.3 million. At December 31, 2013, the Company managed or administered 1,498 accounts with assets totaling approximately $722.9 million. | ||||||||||||||
Convertible Preferred Stock | ||||||||||||||
Series B Convertible Preferred Stock. During 2009, the Company sold to certain accredited investors including directors, executive officers, and certain major customers and holders of the Company’s common stock, $24,635,000, in the aggregate, of a newly authorized series of its preferred stock designated as Series B 9% Non-Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred Stock”). The Series B Preferred Stock had an issue price of $5,000 per share and no par value per share. The Series B Preferred Stock was issued in a private placement exempt from registration pursuant to Regulation D of the Securities Act of 1933, as amended. | ||||||||||||||
The Series B Preferred Stock pays non-cumulative dividends semiannually in arrears, when, as and if authorized by the Board of Directors of the Company, at a rate of 9% per year. Holders of the Series B Preferred Stock will have no voting rights, except with respect to certain fundamental changes in the terms of the Series B Preferred Stock and certain other matters. In addition, if dividends on the Series B Preferred Stock are not paid in full for four dividend periods, whether consecutive or not, the holders of the Series B Preferred Stock, acting as a class with any other of the Company’s securities having similar voting rights, will have the right to elect two directors to the Company’s Board of Directors. The terms of office of these directors will end when the Company has paid or set aside for payment full semi-annual dividends for four consecutive dividend periods. | ||||||||||||||
Each share of the Series B Preferred Stock may be converted at any time at the option of the holder into shares of the Company’s common stock. The number of shares of common stock into which each share of the Series B Preferred Stock is convertible is the $5,000 liquidation preference per share divided by the Conversion Price initially set at $21.94. The Conversion Price is subject to adjustment from time to time pursuant to the terms of the Certificate of Designation (the “Series B Certificate of Designation”). If at the time of conversion, there are any authorized, declared and unpaid dividends with respect to a converted share of Series B Preferred Stock, the holder will receive cash in lieu of the dividends, and a holder will receive cash in lieu of fractional shares of common stock following conversion. | ||||||||||||||
After November 16, 2014, the Company may, at its option but subject to the Company’s receipt of any required prior approvals from the Board of Governors of the Federal Reserve System or any other regulatory authority, redeem the Series B Preferred Stock. Any redemption will be in exchange for cash in the amount of $5,000 per share, plus any authorized, declared and unpaid dividends, without accumulation of any undeclared dividends. | ||||||||||||||
The Company also has the right at any time on or after November 16, 2014 to require the conversion of all (but not less than all) of the Series B Preferred Stock into shares of common stock if, on the date notice of mandatory conversion is given to holders, the book value of the Company’s common stock equals or exceeds 115% of the book value of the Company’s common stock at September 30, 2008. “Book value of the Company’s common stock” at any date means the result of dividing the Company’s total common stockholders’ equity at that date, determined in accordance with U.S. generally accepted accounting principles, by the number of shares of common stock then outstanding, net of any shares held in the treasury. The book value of the Company’s common stock at September 30, 2008 was $13.03, and 115% of this amount is approximately $14.98. The book value of the Company’s common stock at December 31, 2014 was $19.55. | ||||||||||||||
Pursuant to Section 3(j) of the Series B Certification of Designation, the conversion price for the Series B Preferred Stock, which was initially set at $21.94, was required to be adjusted if, among other things, the initial conversion price of any subsequently issued series of preferred stock was lower than the then current conversion price of the Series B Preferred Stock. As a result of the Series C Preferred Stock (see below) having an initial conversion price of less than $21.94, the conversion price of the Series B Preferred Stock was adjusted pursuant to the terms of the Series B Certificate of Designation based on the amount of Series C Preferred Stock sold on February 11, 2011, March 2, 2011, May 13, 2011 and June 28, 2012. The current conversion price of the Series B Preferred Stock, certified by the Company’s accountant pursuant to Section 3(j) of the Series B Certificate of Designation, is $21.62. | ||||||||||||||
On September 23, 2014, the Board of Directors of the Company approved the mandatory conversion of all of the Company's issued and outstanding 4,926 shares of Series B Preferred Stock into shares of the Company’s common stock. On September 24, 2014, notices were sent to the shareholders of the Series B Preferred Stock regarding the mandatory conversion. On November 17, 2014, the Company completed the mandatory conversion. The conversion ratio for each share of the Series B Preferred Stock was computed by dividing $5,000 (the issuance price per share of the Series B Preferred Stock) by $21.62. (the then current conversion price). The conversion ratio, therefore, was 231.267 shares of the Company's common stock for each share of Series B Preferred Stock. This resulted in the issuance of approximately 1,139,195 shares of common stock in the aggregate. As a result of the conversion, dividends ceased to accrue on the Series B Preferred Stock and certificates for shares of Series B Preferred Stock only represent the right to receive the appropriate number of shares of common stock, together with net accrued but unpaid dividends, and cash in lieu of fractional share interests. | ||||||||||||||
Series C Convertible Preferred Stock. On February 11, 2011, the Company accepted from certain accredited investors, including directors, executive officers, and certain major customers and holders of the Company’s common stock (collectively, the “Investors”), subscriptions for the purchase of $27,500,000, in the aggregate, of a newly authorized series of preferred stock designated as Series C 8% Non-Cumulative Perpetual Convertible Preferred Stock (the “Series C Preferred Stock”). As of February 11, 2011, $11,010,000 of the Series C Preferred Stock had been issued and sold by the Company to certain Investors. On March 2, 2011, three investors subsequently completed the required bank regulatory process and an additional $2,750,000 of Series C Preferred Stock was issued and sold by the Company to these investors. On May 13, 2011, four additional investors received the required bank regulatory approval and an additional $5,490,000 of Series C Preferred Stock was issued and sold by the Company to these investors. On June 28, 2012, the final $8,250,000 of the Company’s Series C Preferred Stock was issued and sold by the Company to Investors following their receipt of the required bank regulatory approval, for a total of $27,500,000 of outstanding Series C Preferred Stock. All of the Series C Preferred Stock subscribed for by investors has been issued. | ||||||||||||||
The Series C Preferred Stock has an issue price of $5,000 per share and no par value per share. The Series C Preferred Stock was issued in a private placement exempt from registration pursuant to Regulation D of the Securities Act of 1933, as amended. | ||||||||||||||
The Series C Preferred Stock pays non-cumulative dividends semiannually in arrears, when, as and if authorized by the Board of Directors of the Company, at a rate of 8% per year. Holders of the Series C Preferred Stock will have no voting rights, except with respect to certain fundamental changes in the terms of the Series C Preferred Stock and certain other matters. In addition, if dividends on the Series C Preferred Stock are not paid in full for four dividend periods, whether consecutive or not, the holders of the Series C Preferred Stock, acting as a class with any other of the Company’s securities having similar voting rights, including the Company’s Series B Preferred Stock, will have the right to elect two directors to the Company’s Board of Directors. The terms of office of these directors will end when the Company has paid or set aside for payment full semi-annual dividends for four consecutive dividend periods. | ||||||||||||||
Each share of the Series C Preferred Stock may be converted at any time at the option of the holder into shares of the Company’s common stock. The number of shares of common stock into which each share of the Series C Preferred Stock is convertible is the $5,000 liquidation preference per share divided by the Conversion Price of $20.29. The Conversion Price is subject to adjustment from time to time pursuant to the terms of the Series C Certificate of Designation. If at the time of conversion, there are any authorized, declared and unpaid dividends with respect to a converted share of Series C Preferred Stock, the holder will receive cash in lieu of the dividends, and a holder will receive cash in lieu of fractional shares of common stock following conversion. | ||||||||||||||
After May 13, 2016 the Company may, at its option but subject to the Company’s receipt of any required prior approvals from the Board of Governors of the Federal Reserve System or any other regulatory authority, redeem the Series C Preferred Stock. Any redemption will be in exchange for cash in the amount of $5,000 per share, plus any authorized, declared and unpaid dividends, without accumulation of any undeclared dividends. | ||||||||||||||
The Company also has the right at any time after May 13, 2016 to require the conversion of all (but not less than all) of the Series C Preferred Stock into shares of common stock if, on the date notice of mandatory conversion is given to holders, (a) the tangible book value per share of the Company’s common stock equals or exceeds 115% of the tangible book value per share of the Company’s common stock at December 31, 2010, and (b) the NASDAQ Bank Index (denoted by CBNK:IND) equals or exceeds 115% of the NASDAQ Bank Index at December 31, 2010. “Tangible book value per share of our common stock” at any date means the result of dividing the Company’s total common stockholders equity at that date, less the amount of goodwill and intangible assets, determined in accordance with U.S. generally accepted accounting principles, by the number of shares of common stock then outstanding, net of any shares held in the treasury. The tangible book value of the Company’s common stock at December 31, 2010 was $9.38, and 115% of this amount is approximately $10.79. The NASDAQ Bank Index value at December 31, 2010 was 1,847.35 and 115% of this amount is approximately 2,124.45. The tangible book value of the Company’s common stock at December 31, 2014 was $15.63 and the NASDAQ Bank Index value at December 31, 2014 was 2,675.88. | ||||||||||||||
Treasury Stock | ||||||||||||||
Treasury stock is stated at cost. Cost is determined by the first-in, first-out method. | ||||||||||||||
Stock Incentive Awards | ||||||||||||||
At the Annual Meeting of Stockholders held May 23, 2007, the stockholders approved the First Mid-Illinois Bancshares, Inc. 2007 Stock Incentive Plan (“SI Plan”). The SI Plan was implemented to succeed the Company’s 1997 Stock Incentive Plan, which had a ten-year term that expired October 21, 2007. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its subsidiaries may sustain a sense of proprietorship and personal involvement in the continued development and financial success of the Company and its subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of common stock of the Company on the terms and conditions established in the SI Plan. On September 27, 2011, the Board of Directors passed a resolution relating to the SI Plan whereby they authorized and approved the Executive Long-Term Incentive Plan (“LTIP”). The LTIP was implemented to provide methodology for granting Stock Awards and Stock Unit Awards to select senior executives of the Company or any Subsidiary. | ||||||||||||||
A maximum of 300,000 shares of common stock may be issued under the SI Plan. Prior to December 31, 2008, the Company had awarded 59,500 shares as stock options under the SI plan. There have been no stock options awarded since 2008. The Company awarded 19,377 shares, 14,054 shares and 15,162 shares during 2014, 2013 and 2012, respectively, as 50% Stock Awards and 50% Stock Unit Awards under the SI plan. | ||||||||||||||
Accumulated Other Comprehensive Income | ||||||||||||||
The components of accumulated other comprehensive income included in stockholders’ equity as of December 31, 2014 and 2013 are as follows (in thousands): | ||||||||||||||
Unrealized Gain (Loss) on | Securities with Other-Than-Temporary Impairment Losses | Total | ||||||||||||
Available for Sale Securities | ||||||||||||||
December 31, 2014 | ||||||||||||||
Net unrealized gains on securities available-for-sale | $ | 2,829 | $ | — | $ | 2,829 | ||||||||
Unamortized losses on securities held-to-maturity transferred from available-for-sale | (1,328 | ) | — | (1,328 | ) | |||||||||
Securities with other-than-temporary impairment losses | — | (2,936 | ) | (2,936 | ) | |||||||||
Tax benefit (expense) | (586 | ) | 1,146 | 560 | ||||||||||
Balance at December 31, 2014 | $ | 915 | $ | (1,790 | ) | $ | (875 | ) | ||||||
December 31, 2013 | ||||||||||||||
Net unrealized losses on securities available-for-sale | $ | (10,272 | ) | $ | — | $ | (10,272 | ) | ||||||
Securities with other-than-temporary impairment losses | — | (3,461 | ) | (3,461 | ) | |||||||||
Tax benefit | 4,004 | 1,349 | 5,353 | |||||||||||
Balance at December 31, 2013 | $ | (6,268 | ) | $ | (2,112 | ) | $ | (8,380 | ) | |||||
Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the years ended December 31, 2014, 2013 and 2012 , were as follows: | ||||||||||||||
Amounts Reclassified from Other Comprehensive Income | Affected Line Item in the Statements of Income | |||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Unrealized gains on available-for-sale securities | $ | 715 | 2,293 | 934 | Securities gains, net (Total reclassified amount before tax) | |||||||||
(279 | ) | (894 | ) | (364 | ) | Tax expense | ||||||||
Total reclassifications out of accumulated other comprehensive income | $ | 436 | $ | 1,399 | $ | 570 | Net reclassified amount | |||||||
See “Note 4 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the assumed conversion of the Company’s convertible preferred stock and the Company’s stock options and restricted stock awarded, unless anti-dilutive. | ||||||||||||
The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2014, 2013 and 2012 were as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic Net Income per Common Share | |||||||||||||
Available to Common Stockholders: | |||||||||||||
Net income | $ | 15,461,000 | $ | 14,722,000 | $ | 14,025,000 | |||||||
Preferred stock dividends | (4,152,000 | ) | (4,417,000 | ) | (4,252,000 | ) | |||||||
Net income available to common stockholders | 11,309,000 | 10,305,000 | 9,773,000 | ||||||||||
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||||
Basic earnings per common share | $ | 1.88 | $ | 1.74 | $ | 1.62 | |||||||
Diluted Net Income per Common Share | |||||||||||||
Available to Common Stockholders: | |||||||||||||
Net income available to common stockholders | $ | 11,309,000 | $ | 10,305,000 | $ | 9,773,000 | |||||||
Effect of assumed preferred stock conversion | 4,152,000 | — | — | ||||||||||
Net income applicable to diluted earnings per share | 15,461,000 | 10,305,000 | 9,773,000 | ||||||||||
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||||
Dilutive potential common shares: | |||||||||||||
Assumed conversion of stock options | — | 2,090 | 4,473 | ||||||||||
Restricted stock awarded | 11,725 | 8,184 | 116 | ||||||||||
Assumed conversion of preferred stock | 2,357,196 | — | — | ||||||||||
Dilutive potential common shares | 2,368,921 | 10,274 | 4,589 | ||||||||||
Diluted weighted average common shares outstanding | 8,371,687 | 5,944,902 | 6,027,878 | ||||||||||
Diluted earnings per common share | $ | 1.85 | $ | 1.73 | $ | 1.62 | |||||||
The following shares were not considered in computing diluted earnings per share for the years ended December 31, 2014, 2013 and 2012 because they were anti-dilutive: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Stock options to purchase shares of common stock | 52,000 | 130,500 | 108,125 | ||||||||||
Average dilutive potential common shares associated with convertible preferred stock | — | 2,494,801 | 2,290,110 | ||||||||||
Cash_and_Due_from_Banks
Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2014 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Due from Banks [Text Block] | Cash and Due from Banks |
Aggregate cash and due from bank balances of $3,903,000, $1,583,000 and $1,134,000 were maintained in satisfaction of statutory reserve requirements of the Federal Reserve Bank at December 31, 2014, 2013 and 2012, respectively. At December 31, 2014, the Company’s cash accounts did not exceed the federally insured limits. |
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Investment Securities | The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at December 31, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||
December 31, 2014 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Fair Value | ||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 101,224 | $ | 91 | $ | (1,358 | ) | $ | 99,957 | |||||||||||||||
Obligations of states and political subdivisions | 75,589 | 2,608 | (113 | ) | 78,084 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 193,814 | 2,548 | (961 | ) | 195,401 | |||||||||||||||||||
Trust preferred securities | 3,300 | — | (2,936 | ) | 364 | |||||||||||||||||||
Other securities | 4,036 | 26 | (12 | ) | 4,050 | |||||||||||||||||||
Total available-for-sale | $ | 377,963 | $ | 5,273 | $ | (5,380 | ) | $ | 377,856 | |||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 53,650 | $ | 299 | $ | (12 | ) | $ | 53,937 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 197,805 | $ | 137 | $ | (7,574 | ) | $ | 190,368 | |||||||||||||||
Obligations of states and political subdivisions | 65,304 | 1,031 | (1,773 | ) | 64,562 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 229,661 | 2,215 | (4,275 | ) | 227,601 | |||||||||||||||||||
Trust preferred securities | 3,652 | — | (3,461 | ) | 191 | |||||||||||||||||||
Other securities | 6,035 | 34 | (67 | ) | 6,002 | |||||||||||||||||||
Total available-for-sale | $ | 502,457 | $ | 3,417 | $ | (17,150 | ) | $ | 488,724 | |||||||||||||||
During the third quarter of 2014, management evaluated its available-for-sale portfolio and transferred obligations of U.S. government corporations & agencies securities with a fair value of $53.6 million from available-for-sale to held-to-maturity to reduce price volatility. Management determined it has both the intent and ability to hold these securities to maturity. Transfers of investment securities into the held-to-maturity category from available-for-sale are made at fair value on the date of transfer. There were no gains or losses recognized as a result of this transfer. The related $1.4 million of unrealized holding loss that was included in the transfer is retained in the carrying value of the held-to-maturity securities and in other comprehensive income net of deferred taxes. These amounts are being amortized into net interest income over the remaining life of the related securities as a yield adjustment, resulting in no impact on future net income. | ||||||||||||||||||||||||
Trust preferred securities at December 31, 2014, is one trust preferred pooled security issued by First Tennessee Financial (“FTN”). The unrealized loss of this security, which has a maturity of twenty-three years, is primarily due to its long-term nature, a lack of demand or inactive market for the security, and concerns regarding the underlying financial institutions that have issued the trust preferred security. See the heading “Trust Preferred Securities” below for further information regarding this security. | ||||||||||||||||||||||||
Proceeds from sales of investment securities, realized gains and losses and income tax expense and benefit were as follows during the years ended December 31, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sales | $ | 75,618 | $ | 69,665 | $ | 30,500 | ||||||||||||||||||
Gross gains | 1,452 | 2,454 | 934 | |||||||||||||||||||||
Gross losses | 737 | 161 | — | |||||||||||||||||||||
Income tax expense | 279 | 894 | 364 | |||||||||||||||||||||
The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost at December 31, 2014 and the weighted average yield for each range of maturities (dollars in thousands): | ||||||||||||||||||||||||
One year or less | After 1 through 5 years | After 5 through 10 years | After ten years | Total | ||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 68,602 | $ | 31,355 | $ | — | $ | — | $ | 99,957 | ||||||||||||||
Obligations of state and political subdivisions | 5,455 | 35,016 | 37,613 | — | 78,084 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 3,771 | 147,438 | 44,192 | — | 195,401 | |||||||||||||||||||
Trust preferred securities | — | — | — | 364 | 364 | |||||||||||||||||||
Other securities | — | — | 3,995 | 55 | 4,050 | |||||||||||||||||||
Total investments | $ | 77,828 | $ | 213,809 | $ | 85,800 | $ | 419 | $ | 377,856 | ||||||||||||||
Weighted average yield | 1.78 | % | 2.43 | % | 2.73 | % | 1.13 | % | 2.35 | % | ||||||||||||||
Full tax-equivalent yield | 1.99 | % | 2.85 | % | 3.79 | % | 1.13 | % | 2.86 | % | ||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 43,925 | $ | — | $ | 9,725 | $ | — | $ | 53,650 | ||||||||||||||
Weighted average yield | 2.13 | % | — | % | 2.28 | % | — | % | 2.22 | % | ||||||||||||||
Full tax-equivalent yield | 2.13 | % | — | % | 2.28 | % | — | % | 2.22 | % | ||||||||||||||
The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 35% tax rate. With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at December 31, 2014. | ||||||||||||||||||||||||
Investment securities carried at approximately $330 million and $321 million at December 31, 2014 and 2013, respectively, were pledged to secure public deposits and repurchase agreements and for other purposes as permitted or required by law. | ||||||||||||||||||||||||
The following table presents the aging of gross unrealized losses and fair value by investment category as of December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 7,289 | $ | (46 | ) | $ | 75,030 | $ | (1,312 | ) | $ | 82,319 | $ | (1,358 | ) | |||||||||
Obligations of states and political subdivisions | 3,586 | (19 | ) | 4,416 | (94 | ) | 8,002 | (113 | ) | |||||||||||||||
Mortgage-backed securities: GSE residential | 19,565 | (159 | ) | 37,224 | (802 | ) | 56,789 | (961 | ) | |||||||||||||||
Trust preferred securities | — | — | 364 | (2,936 | ) | 364 | (2,936 | ) | ||||||||||||||||
Other securities | — | — | 1,988 | (12 | ) | 1,988 | (12 | ) | ||||||||||||||||
Total | $ | 30,440 | $ | (224 | ) | $ | 119,022 | $ | (5,156 | ) | $ | 149,462 | $ | (5,380 | ) | |||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 4,853 | $ | (12 | ) | $ | — | $ | — | $ | 4,853 | $ | (12 | ) | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 183,074 | $ | (7,574 | ) | $ | — | $ | — | $ | 183,074 | $ | (7,574 | ) | ||||||||||
Obligations of states and political subdivisions | 29,986 | (1,708 | ) | 808 | (65 | ) | 30,794 | (1,773 | ) | |||||||||||||||
Mortgage-backed securities: GSE residential | 131,125 | (4,275 | ) | 13 | — | 131,138 | (4,275 | ) | ||||||||||||||||
Trust preferred securities | — | — | 191 | (3,461 | ) | 191 | (3,461 | ) | ||||||||||||||||
Other securities | 3,933 | (67 | ) | — | — | 3,933 | (67 | ) | ||||||||||||||||
Total | $ | 348,118 | $ | (13,624 | ) | $ | 1,012 | $ | (3,526 | ) | $ | 349,130 | $ | (17,150 | ) | |||||||||
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies. At December 31, 2014, there were 16 available-for-sale U.S. Treasury securities and obligations of U.S. government corporations and agencies with a fair value of $75,030,000 and unrealized losses of $1,312,000 in a continuous unrealized loss position for twelve months or more. There were no held-to-maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies in a continuous unrealized loss position for twelve months or more. At December 31, 2013 there were no obligations of U.S. government corporations and agencies in a continuous unrealized loss position for twelve months or more. The increase in unrealized losses is due to the rise in interest rates that has occurred since the time the investments were purchased. | ||||||||||||||||||||||||
Obligations of states and political subdivisions. At December 31, 2014 there were ten Obligations of states and political subdivisions with a fair value of $4,416,000 and unrealized losses of $94,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2013, there were two Obligations of states and political subdivisions with a fair value of $808,000 and unrealized losses of $65,000 in a continuous unrealized loss position for twelve months or more. The increase in unrealized losses is due to the rise in interest rates that has occurred since the time the investments were purchased. | ||||||||||||||||||||||||
Mortgage-backed Securities: GSE Residential. At December 31, 2014 there were eleven mortgage-backed security with a fair value of $37,224,000 and unrealized losses of $802,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2013, there was one mortgage-backed security with a fair value of $13,000 and unrealized losses of $109 in a continuous unrealized loss position for twelve months or more. The increase in unrealized losses is due to the rise in interest rates that has occurred since the time the investments were purchased. | ||||||||||||||||||||||||
Trust Preferred Securities. At December 31, 2014, there was one trust preferred security with a fair value of $364,000 and unrealized losses of $2,936,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2013, there was one trust preferred securities with a fair value of $191,000 and unrealized losses of $3,461,000 in a continuous unrealized loss position for twelve months or more. These unrealized losses were primarily due to the long-term nature of the trust preferred securities, a lack of demand or inactive market for these securities, the impending change to the regulatory treatment of these securities, and concerns regarding the underlying financial institutions that have issued the trust preferred securities. The Company recorded no other-than-temporary impairment (OTTI) for these securities during 2014 or 2013. Because the Company does not intend to sell the remaining security and it is not more-likely-than-not that the Company will be required to sell this securities before recovery of its amortized cost basis, which may be maturity, the Company does not consider the remainder of the investment in this security to be other-than-temporarily impaired at December 31, 2014. However, future downgrades or additional deferrals and defaults in the security could result in additional OTTI and consequently, have a material impact on future earnings. | ||||||||||||||||||||||||
On July 22, 2013, the Company sold its holdings in PreTSL I and PreTSL II and the net proceeds exceeded the aggregate book value of the securities by approximately $1.4 million. On July 3, 2012, the Company’s holding in PreTSL VI was redeemed in full and the payment received exceeded the aggregate book of the security by approximately $139,000. | ||||||||||||||||||||||||
Following are the details for the impaired trust preferred security remaining as of December 31, 2014 (in thousands): | ||||||||||||||||||||||||
Book | Market Value | Unrealized Gains (Losses) | Other-than- | |||||||||||||||||||||
Value | temporary | |||||||||||||||||||||||
Impairment | ||||||||||||||||||||||||
Recorded To-date | ||||||||||||||||||||||||
PreTSL XXVIII | $ | 3,300 | $ | 364 | $ | (2,936 | ) | $ | (1,111 | ) | ||||||||||||||
Other securities. At December 31, 2014 and 2013, there were no corporate bonds in a continuous unrealized loss position for twelve months or more. | ||||||||||||||||||||||||
The Company does not believe any other individual unrealized loss as of December 31, 2014 represents OTTI. However, given the continued disruption in the financial markets, the Company may be required to recognize OTTI losses in future periods with respect to its available for sale investment securities portfolio. The amount and timing of any additional OTTI will depend on the decline in the underlying cash flows of the securities. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss recognized in the period the other-than-temporary impairment is identified. | ||||||||||||||||||||||||
Other-than-temporary Impairment | ||||||||||||||||||||||||
Upon acquisition of a security, the Company determines whether it is within the scope of the accounting guidance for investments in debt and equity securities or whether it must be evaluated for impairment under the accounting guidance for beneficial interests in securitized financial assets | ||||||||||||||||||||||||
The Company conducts periodic reviews to evaluate its investment securities to determine whether OTTI has occurred. While all securities are considered, the securities primarily impacted by OTTI evaluation are pooled trust preferred securities. For the pooled trust preferred security currently in the investment portfolio, an extensive review is conducted to determine if any additional OTTI has occurred. The Company utilizes an independent third-party to perform the OTTI evaluation. The Company's management reviews the assumption inputs and methodology with the third-party to obtain an understanding of them and determine if they are appropriate for the evaluation. Economic models are used to project future cash flows for the security based on current assumptions for discount rate, prepayments, default and deferral rates and recoveries. These assumptions are determined based on the structure of the issuance, the specific collateral underlying the security, historical performance of trust preferred securities and general state of the economy. The OTTI test compares the present value of the cash flows from quarter to quarter to determine if there has been an adverse change which could indicate additional OTTI. | ||||||||||||||||||||||||
The discount rate assumption used in the cash flow model is equal to the current yield used to accrete the beneficial interest. The Company’s current trust preferred security investment has a floating rate coupon of 3-month LIBOR plus 90 basis points. Since the estimate of 3-month LIBOR is based on the forward curve on the measurement date, and is therefore variable, the discount assumption for this security is a range of projected coupons over the expected life of the security. | ||||||||||||||||||||||||
The Company considers the likelihood that issuers will prepay their securities which changes the amount of expected cash flows. Factors such as the coupon rates of collateral, economic conditions and regulatory changes, such as the Dodd-Frank Act and Basel III, are considered. | ||||||||||||||||||||||||
The trust preferred security includes collateral issued by financial institutions and insurance companies. To identify bank issuers with a high risk of near term default or deferral, a credit model developed by the third-party is utilized that scores each bank issuer based on 29 different ratios covering capital adequacy, asset quality, earnings, liquidity, the Texas Ratio, and sensitivity to interest rates. To account for longer term bank default risk not captured by the credit model, it is assumed that banks will default at a rate of 2% annually for the first two years of the cash flow projection, and 36 basis points in each year thereafter. To project defaults for insurance issuers, each issuer’s credit rating is mapped to its idealized default rate, which is AM Best’s estimate of the historical default rate for insurance companies with that rating. | ||||||||||||||||||||||||
Lastly, it is assumed that trust preferred securities issued by banks that have already failed will have no recoveries, and that banks projected to default will have recoveries of 10%. Additionally, the 10% recovery assumption, incorporates the potential for cures by banks that are currently in deferral. | ||||||||||||||||||||||||
If the Company determines that a given pooled trust preferred security position will be subject to a write-down or loss, the Company records the expected credit loss as a charge to earnings. | ||||||||||||||||||||||||
Credit Losses Recognized on Investments | ||||||||||||||||||||||||
As described above, some of the Company’s investments in trust preferred securities have experienced fair value deterioration due to credit losses but are not otherwise other-than-temporarily impaired. The following table provides information about those trust preferred securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||||||||||||||
Accumulated Credit Losses as of December 31: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit losses on trust preferred securities held: | ||||||||||||||||||||||||
Beginning of period | $ | 1,111 | $ | 3,989 | $ | 4,116 | ||||||||||||||||||
Additions related to OTTI losses not previously recognized | — | — | — | |||||||||||||||||||||
Reductions due to sales / (recoveries) | — | (2,878 | ) | (127 | ) | |||||||||||||||||||
Reductions due to change in intent or likelihood of sale | — | — | — | |||||||||||||||||||||
Additions related to increases in previously recognized OTTI losses | — | — | — | |||||||||||||||||||||
Reductions due to increases in expected cash flows | — | — | — | |||||||||||||||||||||
End of period | $ | 1,111 | $ | 1,111 | $ | 3,989 | ||||||||||||||||||
Maturities of investment securities were as follows at December 31, 2014 (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair Value | |||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 75,041 | $ | 74,057 | ||||||||||||||||||||
Due after one-five years | 65,428 | 66,371 | ||||||||||||||||||||||
Due after five-ten years | 40,345 | 41,608 | ||||||||||||||||||||||
Due after ten years | 3,335 | 419 | ||||||||||||||||||||||
184,149 | 182,455 | |||||||||||||||||||||||
Mortgage-backed securities: GSE residential | 193,814 | 195,401 | ||||||||||||||||||||||
Total available-for-sale | 377,963 | 377,856 | ||||||||||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
Due in one year or less | 43,925 | 44,169 | ||||||||||||||||||||||
Due after one-five years | — | — | ||||||||||||||||||||||
Due after five-ten years | 9,725 | 9,768 | ||||||||||||||||||||||
Due after ten years | — | — | ||||||||||||||||||||||
Total held-to-maturity | 53,650 | $ | 53,937 | |||||||||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at December 31, 2014 and 2013 follows (in thousands): | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Construction and land development | $ | 21,627 | $ | 25,321 | ||||||||||||||||||||||||||||
Farm loans | 110,158 | 109,376 | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 179,886 | 184,158 | ||||||||||||||||||||||||||||||
Multifamily residential properties | 53,129 | 50,174 | ||||||||||||||||||||||||||||||
Commercial real estate | 380,173 | 357,726 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 744,973 | 726,755 | ||||||||||||||||||||||||||||||
Agricultural loans | 68,225 | 64,055 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 223,633 | 168,227 | ||||||||||||||||||||||||||||||
Consumer loans | 15,118 | 14,579 | ||||||||||||||||||||||||||||||
All other loans | 8,736 | 9,094 | ||||||||||||||||||||||||||||||
Gross loans | 1,060,685 | 982,710 | ||||||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Net deferred loan fees, premiums and discounts | 237 | 420 | ||||||||||||||||||||||||||||||
Allowance for loan losses | 13,682 | 13,249 | ||||||||||||||||||||||||||||||
Net loans | $ | 1,046,766 | $ | 969,041 | ||||||||||||||||||||||||||||
Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or market value, taking into consideration future commitments to sell the loans. These loans are primarily for 1-4 family residential properties. The balance of loans held for sale, excluded from the balances above, were $1,958,000 and $514,000 at December 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||
Most of the Company’s business activities are with customers located within central Illinois. At December 31, 2014, the Company’s loan portfolio included $178.5 million of loans to borrowers whose businesses are directly related to agriculture. Of this amount, $155.1 million was concentrated in other grain farming. Total loans to borrowers whose businesses are directly related to agriculture increased $5.0 million from $173.5 million at December 31, 2013 while loans concentrated in other grain farming increased $8.0 million from $147.1 million at December 31, 2013. While the Company adheres to sound underwriting practices, including collateralization of loans, any extended period of low commodity prices, drought conditions, significantly reduced yields on crops and/or reduced levels of government assistance to the agricultural industry could result in an increase in the level of problem agriculture loans and potentially result in loan losses within the agricultural portfolio. | ||||||||||||||||||||||||||||||||
In addition, the Company has $56.5 million of loans to motels and hotels. The performance of these loans is dependent on borrower specific issues as well as the general level of business and personal travel within the region. While the Company adheres to sound underwriting standards, a prolonged period of reduced business or personal travel could result in an increase in nonperforming loans to this business segment and potentially in loan losses. The Company also has $46.2 million of loans to other general merchandise stores, $96.5 million of loans to lessors of non-residential buildings and $65.8 million of loans to lessors of residential buildings and dwellings. | ||||||||||||||||||||||||||||||||
The structure of the Company’s loan approval process is based on progressively larger lending authorities granted to individual loan officers, loan committees, and ultimately the Board of Directors. Outstanding balances to one borrower or affiliated borrowers are limited by federal regulation; however, limits well below the regulatory thresholds are generally observed. The vast majority of the Company’s loans are to businesses located in the geographic market areas served by the Company’s branch bank system. Additionally, a significant portion of the collateral securing the loans in the portfolio is located within the Company’s primary geographic footprint. In general, the Company adheres to loan underwriting standards consistent with industry guidelines for all loan segments. The Company’s lending can be summarized into the following primary areas: | ||||||||||||||||||||||||||||||||
Commercial Real Estate Loans. Commercial real estate loans are generally comprised of loans to small business entities to purchase or expand structures in which the business operations are housed, loans to owners of real estate who lease space to non-related commercial entities, loans for construction and land development, loans to hotel operators, and loans to owners of multi-family residential structures, such as apartment buildings. Commercial real estate loans are underwritten based on historical and projected cash flows of the borrower and secondarily on the underlying real estate pledged as collateral on the debt. For the various types of commercial real estate loans, minimum criteria have been established within the Company’s loan policy regarding debt service coverage while maximum limits on loan-to-value and amortization periods have been defined. Maximum loan-to-value ratios range from 65% to 80% depending upon the type of real estate collateral, while the desired minimum debt coverage ratio is 1.20x. Amortization periods for commercial real estate loans are generally limited to twenty years. The Company’s commercial real estate portfolio is well below the thresholds that would designate a concentration in commercial real estate lending, as established by the federal banking regulators. | ||||||||||||||||||||||||||||||||
Commercial and Industrial Loans. Commercial and industrial loans are primarily comprised of working capital loans used to purchase inventory and fund accounts receivable that are secured by business assets other than real estate. These loans are generally written for one year or less. Also, equipment financing is provided to businesses with these loans generally limited to 80% of the value of the collateral and amortization periods limited to seven years. Commercial loans are often accompanied by a personal guaranty of the principal owners of a business. Like commercial real estate loans, the underlying cash flow of the business is the primary consideration in the underwriting process. The financial condition of commercial borrowers is monitored at least annually with the type of financial information required determined by the size of the relationship. Measures employed by the Company for businesses with higher risk profiles include the use of government-assisted lending programs through the Small Business Administration and U.S. Department of Agriculture. | ||||||||||||||||||||||||||||||||
Agricultural and Agricultural Real Estate Loans. Agricultural loans are generally comprised of seasonal operating lines to cash grain farmers to plant and harvest corn and soybeans and term loans to fund the purchase of equipment. Agricultural real estate loans are primarily comprised of loans for the purchase of farmland. Specific underwriting standards have been established for agricultural-related loans including the establishment of projections for each operating year based on industry developed estimates of farm input costs and expected commodity yields and prices. Operating lines are typically written for one year and secured by the crop. Loan-to-value ratios on loans secured by farmland generally do not exceed 65% and have amortization periods limited to twenty five years. Federal government-assistance lending programs through the Farm Service Agency are used to mitigate the level of credit risk when deemed appropriate. | ||||||||||||||||||||||||||||||||
Residential Real Estate Loans. Residential real estate loans generally include loans for the purchase or refinance of residential real estate properties consisting of one-to-four units and home equity loans and lines of credit. The Company sells the vast majority of its long-term fixed rate residential real estate loans to secondary market investors. The Company also releases the servicing of these loans upon sale. The Company retains all residential real estate loans with balloon payment features. Balloon periods are limited to five years. Residential real estate loans are typically underwritten to conform to industry standards including criteria for maximum debt-to-income and loan-to-value ratios as well as minimum credit scores. Loans secured by first liens on residential real estate held in the portfolio typically do not exceed 80% of the value of the collateral and have amortization periods of twenty five years or less. The Company does not originate subprime mortgage loans. | ||||||||||||||||||||||||||||||||
Consumer Loans. Consumer loans are primarily comprised of loans to individuals for personal and household purposes such as the purchase of an automobile or other living expenses. Minimum underwriting criteria have been established that consider credit score, debt-to-income ratio, employment history, and collateral coverage. Typically, consumer loans are set up on monthly payments with amortization periods based on the type and age of the collateral. | ||||||||||||||||||||||||||||||||
Other Loans. Other loans consist primarily of loans to municipalities to support community projects such as infrastructure improvements or equipment purchases. Underwriting guidelines for these loans are consistent with those established for commercial loans with the additional repayment source of the taxing authority of the municipality. | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||
The allowance for loan losses represents the Company’s best estimate of the reserve necessary to adequately account for probable losses existing in the current portfolio. The provision for loan losses is the charge against current earnings that is determined by the Company as the amount needed to maintain an adequate allowance for loan losses. In determining the adequacy of the allowance for loan losses, and therefore the provision to be charged to current earnings, the Company relies predominantly on a disciplined credit review and approval process that extends to the full range of the Company’s credit exposure. The review process is directed by the overall lending policy and is intended to identify, at the earliest possible stage, borrowers who might be facing financial difficulty. Once identified, the magnitude of exposure to individual borrowers is quantified in the form of specific allocations of the allowance for loan losses. The Company considers collateral values and guarantees in the determination of such specific allocations. Additional factors considered by the Company in evaluating the overall adequacy of the allowance include historical net loan losses, the level and composition of nonaccrual, past due and troubled debt restructurings, trends in volumes and terms of loans, effects of changes in risk selection and underwriting standards or lending practices, lending staff changes, concentrations of credit, industry conditions and the current economic conditions in the region where the Company operates. | ||||||||||||||||||||||||||||||||
The Company estimates the appropriate level of allowance for loan losses by separately evaluating large impaired loans, large adversely classified loans and nonimpaired loans. | ||||||||||||||||||||||||||||||||
Impaired loans. The Company individually evaluates certain loans for impairment. In general, these loans have been internally identified via the Company’s loan grading system as credits requiring management’s attention due to underlying problems in the borrower’s business or collateral concerns. This evaluation considers expected future cash flows, the value of collateral and also other factors that may impact the borrower’s ability to make payments when due. For loans greater than $100,000 in the commercial, commercial real estate, agricultural, agricultural real estate segments, impairment is individually measured each quarter using one of three alternatives: (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price, if available; or (3) the fair value of the collateral less costs to sell for collateral dependent loans and loans for which foreclosure is deemed to be probable. A specific allowance is assigned when expected cash flows or collateral do not justify the carrying amount of the loan. The carrying value of the loan reflects reductions from prior charge-offs. | ||||||||||||||||||||||||||||||||
Adversely classified loans. A detailed analysis is also performed on each adversely classified (substandard or doubtful rated) borrower with an aggregate, outstanding balance of $100,000 or more. This analysis includes commercial, commercial real estate, agricultural, and agricultural real estate borrowers who are not currently identified as impaired but pose sufficient risk to warrant in-depth review. Estimated collateral shortfalls are then calculated with allocations for each loan segment based on the five-year historical average of collateral shortfalls adjusted for environmental factors including changes in economic conditions, changes in credit policies or underwriting standards, and changes in the level of credit risk associated with specific industries and markets. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is periodically assessed and adjusted when appropriate. | ||||||||||||||||||||||||||||||||
Non-classified and Watch loans. For loans, in all segments of the portfolio, that are considered to possess levels of risk commensurate with a pass rating, management establishes base loss estimations which are derived from historical loss experience. Use of a five-year historical loss period eliminates the effect of any significant losses that can be attributed to a single event or borrower during a given reporting period. The base loss estimations for each loan segment are adjusted after consideration of several environmental factors influencing the level of credit risk in the portfolio. In addition, loans rated as watch are further segregated in the commercial / commercial real estate and agricultural / agricultural real estate segments. These loans possess potential weaknesses that, if unchecked, may result in deterioration to the point of becoming a problem asset. Due to the elevated risk inherent in these loans, an allocation of twice the adjusted base loss estimation of the applicable loan segment is determined appropriate. | ||||||||||||||||||||||||||||||||
Due to weakened economic conditions during recent years, the Company established allocations for each of the loan segments at levels above the base loss estimations. Some of the economic factors included the potential for reduced cash flow for commercial operating loans from reduction in sales or increased operating costs, decreased occupancy rates for commercial buildings, reduced levels of home sales for commercial land developments, the uncertainty regarding grain prices and increased operating costs for farmers, and increased levels of unemployment and bankruptcy impacting consumer’s ability to pay. Each of these economic uncertainties was taken into consideration in developing the level of the reserve. The Company has not materially changed any aspect of its overall approach in the determination of the allowance for loan losses. However, on an on-going basis the Company continues to refine the methods used in determining management’s best estimate of the allowance for loan losses. | ||||||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||
Commercial/ Commercial Real Estate | Agricultural/ Agricultural Real Estate | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 10,646 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 13,249 | ||||||||||||||||||||
Provision charged to expense | 192 | 825 | 135 | 167 | (690 | ) | 629 | |||||||||||||||||||||||||
Losses charged off | (86 | ) | — | (140 | ) | (311 | ) | — | (537 | ) | ||||||||||||||||||||||
Recoveries | 162 | 2 | 24 | 153 | — | 341 | ||||||||||||||||||||||||||
Balance, end of period | $ | 10,914 | $ | 1,360 | $ | 790 | $ | 386 | $ | 232 | $ | 13,682 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 263 | $ | — | $ | — | $ | — | $ | — | $ | 263 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 10,651 | $ | 1,360 | $ | 790 | $ | 386 | $ | 232 | $ | 13,419 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 684,552 | $ | 178,091 | $ | 184,661 | $ | 15,102 | $ | — | $ | 1,062,406 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,301 | $ | — | $ | — | $ | — | $ | — | $ | 3,301 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 681,251 | $ | 178,091 | $ | 184,661 | $ | 15,102 | $ | — | $ | 1,059,105 | ||||||||||||||||||||
Commercial/ Commercial Real Estate | Agricultural/ Agricultural Real Estate | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 9,301 | $ | 558 | $ | 726 | $ | 403 | $ | 788 | $ | 11,776 | ||||||||||||||||||||
Provision charged to expense | 1,861 | (30 | ) | 171 | 57 | 134 | 2,193 | |||||||||||||||||||||||||
Losses charged off | (764 | ) | — | (141 | ) | (223 | ) | — | (1,128 | ) | ||||||||||||||||||||||
Recoveries | 248 | 5 | 15 | 140 | — | 408 | ||||||||||||||||||||||||||
Balance, end of period | $ | 10,646 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 13,249 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 604 | $ | — | $ | — | $ | — | $ | — | $ | 604 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 10,042 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 12,645 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 607,062 | $ | 172,979 | $ | 187,796 | $ | 14,967 | $ | — | $ | 982,804 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,145 | $ | — | $ | — | $ | — | $ | — | $ | 5,145 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 601,917 | $ | 172,979 | $ | 187,796 | $ | 14,967 | $ | — | $ | 977,659 | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 8,791 | $ | 546 | $ | 636 | $ | 378 | $ | 769 | $ | 11,120 | ||||||||||||||||||||
Provision charged to expense | 1,979 | (47 | ) | 580 | 116 | 19 | 2,647 | |||||||||||||||||||||||||
Losses charged off | (1,586 | ) | (12 | ) | (524 | ) | (249 | ) | — | (2,371 | ) | |||||||||||||||||||||
Recoveries | 117 | 71 | 34 | 158 | — | 380 | ||||||||||||||||||||||||||
Balance, end of year | $ | 9,301 | $ | 558 | $ | 726 | $ | 403 | $ | 788 | $ | 11,776 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 457 | $ | 54 | $ | — | $ | — | $ | — | $ | 511 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 8,844 | $ | 504 | $ | 726 | $ | 403 | $ | 788 | $ | 11,265 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 569,717 | $ | 145,695 | $ | 179,309 | $ | 16,066 | $ | 278 | $ | 911,065 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,334 | $ | 1,230 | $ | — | $ | — | $ | — | $ | 6,564 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 564,383 | $ | 144,465 | $ | 179,309 | $ | 16,066 | $ | 278 | $ | 904,501 | ||||||||||||||||||||
Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. | ||||||||||||||||||||||||||||||||
For all loan portfolio segments except 1-4 family residential properties and consumer, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. | ||||||||||||||||||||||||||||||||
The Company charges-off 1-4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge-off of unsecured open-end loans when the loan is 180 days past due, and charge down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. | ||||||||||||||||||||||||||||||||
Credit Quality | ||||||||||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral support, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $100,000 and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a continuous basis. The Company uses the following definitions for risk ratings: | ||||||||||||||||||||||||||||||||
Watch. Loans classified as watch have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. | ||||||||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current sound-worthiness and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing factors, conditions and values, highly questionable and improbable. | ||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||
Construction & | Farm Loans | 1-4 Family Residential | Multifamily Residential | |||||||||||||||||||||||||||||
Land Development | Properties | Properties | ||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Pass | $ | 20,842 | $ | 23,839 | $ | 107,976 | $ | 108,262 | $ | 177,764 | $ | 182,593 | $ | 52,793 | $ | 50,174 | ||||||||||||||||
Watch | — | — | 1,036 | 231 | 1,187 | 637 | — | — | ||||||||||||||||||||||||
Substandard | 785 | 1,482 | 1,181 | 912 | 2,970 | 1,531 | 336 | — | ||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 21,627 | $ | 25,321 | $ | 110,193 | $ | 109,405 | $ | 181,921 | $ | 184,761 | $ | 53,129 | $ | 50,174 | ||||||||||||||||
Commercial Real Estate (Nonfarm/Nonresidential) | Agricultural Loans | Commercial & Industrial Loans | Consumer Loans | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Pass | $ | 357,873 | $ | 335,284 | $ | 67,619 | $ | 62,439 | $ | 218,193 | $ | 158,107 | $ | 15,105 | $ | 14,558 | ||||||||||||||||
Watch | 18,817 | 17,998 | — | 193 | 4,647 | 3,515 | 9 | — | ||||||||||||||||||||||||
Substandard | 2,914 | 3,717 | 679 | 1,496 | 940 | 6,731 | 4 | 21 | ||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 379,604 | $ | 356,999 | $ | 68,298 | $ | 64,128 | $ | 223,780 | $ | 168,353 | $ | 15,118 | $ | 14,579 | ||||||||||||||||
All Other Loans | Total Loans | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Pass | $ | 8,736 | $ | 9,084 | $ | 1,026,901 | $ | 944,340 | ||||||||||||||||||||||||
Watch | — | — | 25,696 | 22,574 | ||||||||||||||||||||||||||||
Substandard | — | — | 9,809 | 15,890 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 8,736 | $ | 9,084 | $ | 1,062,406 | $ | 982,804 | ||||||||||||||||||||||||
The following table presents the Company’s loan portfolio aging analysis at December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||
30-59 days Past Due | 60-89 days Past Due | 90 Days | Total | Current | Total Loans Receivable | Total Loans > 90 days & Accruing | ||||||||||||||||||||||||||
or More Past Due | Past Due | |||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 297 | $ | 25 | $ | — | $ | 322 | $ | 21,305 | $ | 21,627 | $ | — | ||||||||||||||||||
Farm loans | — | — | — | — | 110,193 | 110,193 | — | |||||||||||||||||||||||||
1-4 Family residential properties | 201 | 224 | 385 | 810 | 181,111 | 181,921 | — | |||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | 53,129 | 53,129 | — | |||||||||||||||||||||||||
Commercial real estate | 60 | 32 | 945 | 1,037 | 378,567 | 379,604 | — | |||||||||||||||||||||||||
Loans secured by real estate | 558 | 281 | 1,330 | 2,169 | 744,305 | 746,474 | — | |||||||||||||||||||||||||
Agricultural loans | 16 | 20 | — | 36 | 68,262 | 68,298 | — | |||||||||||||||||||||||||
Commercial and industrial loans | 228 | 10 | 98 | 336 | 223,444 | 223,780 | — | |||||||||||||||||||||||||
Consumer loans | 331 | 10 | 5 | 346 | 14,772 | 15,118 | — | |||||||||||||||||||||||||
All other loans | — | — | — | — | 8,736 | 8,736 | — | |||||||||||||||||||||||||
Total loans | $ | 1,133 | $ | 321 | $ | 1,433 | $ | 2,887 | $ | 1,059,519 | $ | 1,062,406 | $ | — | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Construction and land development | $ | — | $ | — | $ | — | $ | — | $ | 25,321 | $ | 25,321 | $ | — | ||||||||||||||||||
Farm loans | 299 | — | — | 299 | 109,106 | 109,405 | — | |||||||||||||||||||||||||
1-4 Family residential properties | 326 | 146 | 371 | 843 | 183,918 | 184,761 | — | |||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | 50,174 | 50,174 | — | |||||||||||||||||||||||||
Commercial real estate | 568 | 1,030 | 145 | 1,743 | 355,256 | 356,999 | — | |||||||||||||||||||||||||
Loans secured by real estate | 1,193 | 1,176 | 516 | 2,885 | 723,775 | 726,660 | — | |||||||||||||||||||||||||
Agricultural loans | 122 | 49 | — | 171 | 63,957 | 64,128 | — | |||||||||||||||||||||||||
Commercial and industrial loans | 113 | 88 | 62 | 263 | 168,090 | 168,353 | — | |||||||||||||||||||||||||
Consumer loans | 83 | 25 | 4 | 112 | 14,467 | 14,579 | — | |||||||||||||||||||||||||
All other loans | — | — | — | — | 9,084 | 9,084 | — | |||||||||||||||||||||||||
Total loans | $ | 1,511 | $ | 1,338 | $ | 582 | $ | 3,431 | $ | 979,373 | $ | 982,804 | $ | — | ||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||
Within all loan portfolio segments, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Impaired loans, excluding certain troubled debt restructured loans, are placed on nonaccrual status. Impaired loans include nonaccrual loans and loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. It is the Company’s policy to have any restructured loans which are on nonaccrual status prior to being modified remain on nonaccrual status until, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. If the restructured loan is on accrual status prior to being modified, the loan is reviewed to determine if the modified loan should remain on accrual status. | ||||||||||||||||||||||||||||||||
The following tables present impaired loans as of December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance | Specific Allowance | Recorded | Unpaid Principal Balance | Specific Allowance | |||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||
Loans with a specific allowance: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 2,960 | $ | 43 | $ | 614 | $ | 614 | $ | 76 | ||||||||||||||||||||
Farm loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 67 | 134 | — | — | — | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 472 | 986 | 136 | 1,096 | 1,096 | 301 | ||||||||||||||||||||||||||
Loans secured by real estate | 1,324 | 4,080 | 179 | 1,710 | 1,710 | 377 | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 83 | 181 | 84 | 275 | 275 | 227 | ||||||||||||||||||||||||||
Consumer loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 1,407 | $ | 4,261 | $ | 263 | $ | 1,985 | $ | 1,985 | $ | 604 | ||||||||||||||||||||
Loans without a specific allowance: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | — | $ | — | $ | — | $ | 869 | $ | 1,727 | $ | — | ||||||||||||||||||||
Farm loans | 73 | 235 | — | 105 | 113 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,156 | 2,866 | — | 1,110 | 1,558 | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 1,640 | 3,808 | — | 1,750 | 1,778 | — | ||||||||||||||||||||||||||
Loans secured by real estate | 2,869 | 6,909 | — | 3,834 | 5,176 | — | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 249 | 933 | — | 613 | 946 | — | ||||||||||||||||||||||||||
Consumer loans | 15 | 60 | — | 37 | 51 | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 3,133 | $ | 7,902 | $ | — | $ | 4,484 | $ | 6,173 | $ | — | ||||||||||||||||||||
Total loans: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 2,960 | $ | 43 | $ | 1,483 | $ | 2,341 | $ | 76 | ||||||||||||||||||||
Farm loans | 73 | 235 | — | 105 | 113 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,223 | 3,000 | — | 1,110 | 1,558 | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 2,112 | 4,794 | 136 | 2,846 | 2,874 | 301 | ||||||||||||||||||||||||||
Loans secured by real estate | 4,193 | 10,989 | 179 | 5,544 | 6,886 | 377 | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 332 | 1,114 | 84 | 888 | 1,221 | 227 | ||||||||||||||||||||||||||
Consumer loans | 15 | 60 | — | 37 | 51 | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 4,540 | $ | 12,163 | $ | 263 | $ | 6,469 | $ | 8,158 | $ | 604 | ||||||||||||||||||||
The Company’s policy is to discontinue the accrual of interest income on all loans for which principal or interest is ninety days past due. The accrual of interest is discontinued earlier when, in the opinion of management, there is reasonable doubt as to the timely collection of interest or principal. Once interest accruals are discontinued, accrued but uncollected interest is charged against current year income. Subsequent receipts on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Interest on loans determined to be troubled debt restructurings is recognized on an accrual basis in accordance with the restructured terms if the loan is in compliance with the modified terms. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. | ||||||||||||||||||||||||||||||||
The following tables present average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||||||||
in Impaired Loans | in Impaired Loans | in Impaired Loans | ||||||||||||||||||||||||||||||
Construction and land development | $ | 933 | $ | — | $ | 1,565 | $ | — | $ | 1,520 | $ | — | ||||||||||||||||||||
Farm loans | 78 | 2 | 107 | — | 421 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,276 | 12 | 1,248 | 5 | 1,948 | 7 | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 2,205 | 2 | 2,895 | 3 | 2,100 | — | ||||||||||||||||||||||||||
Loans secured by real estate | 4,492 | 16 | 5,815 | 8 | 5,989 | 7 | ||||||||||||||||||||||||||
Agricultural loans | — | — | 16 | 1 | 1,071 | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 429 | — | 1,240 | 10 | 755 | — | ||||||||||||||||||||||||||
Consumer loans | 25 | 1 | 47 | 12 | 56 | 15 | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 4,946 | $ | 17 | $ | 7,118 | $ | 31 | $ | 7,871 | $ | 22 | ||||||||||||||||||||
The amount of interest income recognized by the Company within the periods stated above was due to loans modified in a troubled debt restructuring that remained on accrual status. The balance of loans modified in a troubled debt restructuring included in the impaired loans stated above that were still accruing was $345,000 of 1-4 Family residential properties, $44,000 of Farm Loans, $37,000 of commercial real estate, and $9,000 of consumer loans at December 31, 2014 and $101,000 of 1-4 Family residential properties, $39,000 of commercial real estate loans, $182,000 of commercial and industrial loans and $26,000 of consumer loans at December 31, 2013. For the years ended December 31, 2014, 2013 and 2012, the amount of interest income recognized using a cash-basis method of accounting during the period that the loans were impaired was not material. | ||||||||||||||||||||||||||||||||
Non Accrual Loans | ||||||||||||||||||||||||||||||||
The following table presents the Company’s recorded balance of nonaccrual loans at December 31, 2014 and December 31, 2013 (in thousands). This table excludes purchased impaired loans and performing troubled debt restructurings. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 1,483 | ||||||||||||||||||||||||||||
Farm loans | 29 | 105 | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 878 | 1,009 | ||||||||||||||||||||||||||||||
Multifamily residential properties | — | — | ||||||||||||||||||||||||||||||
Commercial real estate | 2,074 | 2,807 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 3,766 | 5,404 | ||||||||||||||||||||||||||||||
Agricultural loans | — | — | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 332 | 706 | ||||||||||||||||||||||||||||||
Consumer loans | 7 | 11 | ||||||||||||||||||||||||||||||
All other loans | — | — | ||||||||||||||||||||||||||||||
Total loans | $ | 4,105 | $ | 6,121 | ||||||||||||||||||||||||||||
The aggregate principal balances of nonaccrual, past due ninety days or more loans were $4.1 million and $6.1 million at December 31, 2014 and 2013, respectively. Interest income that would have been recorded under the original terms of such nonaccrual loans totaled $71,000, $45,000 and $173,000 in 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
Troubled Debt Restructuring | ||||||||||||||||||||||||||||||||
The balance of troubled debt restructurings ("TDRs") at December 31, 2014 and 2013 was $2,860,000 and $3,200,000, respectively. Approximately $234,000 and $431,000 in specific reserves have been established with respect to these loans as of December 31, 2014 and 2013, respectively. As troubled debt restructurings, these loans are included in nonperforming loans and are classified as impaired which requires that they be individually measured for impairment. The modification of the terms of these loans included one or a combination of the following: a reduction of stated interest rate of the loan; an extension of the maturity date and change in payment terms; or a permanent reduction of the recorded investment in the loan. | ||||||||||||||||||||||||||||||||
The following table presents the Company’s recorded balance of troubled debt restructurings at December 31, 2014 and 2013 (in thousands). | ||||||||||||||||||||||||||||||||
Troubled debt restructurings: | 2014 | 2013 | ||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 1,482 | ||||||||||||||||||||||||||||
Farm Loans | 44 | — | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 503 | 306 | ||||||||||||||||||||||||||||||
Commercial real estate | 1,283 | 899 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 2,615 | 2,687 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 236 | 487 | ||||||||||||||||||||||||||||||
Consumer Loans | 9 | 26 | ||||||||||||||||||||||||||||||
Total | $ | 2,860 | $ | 3,200 | ||||||||||||||||||||||||||||
Performing troubled debt restructurings: | ||||||||||||||||||||||||||||||||
1-4 Family residential properties | $ | 345 | $ | 101 | ||||||||||||||||||||||||||||
Farm Loans | 44 | — | ||||||||||||||||||||||||||||||
Commercial real estate | 37 | 39 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 426 | 140 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | — | 182 | ||||||||||||||||||||||||||||||
Consumer Loans | 9 | 26 | ||||||||||||||||||||||||||||||
Total | $ | 435 | $ | 348 | ||||||||||||||||||||||||||||
The following table presents loans modified as TDRs during the years ended December 31, 2014 and 2013 as a result of various modified loan factors (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Number of Modifications | Recorded Investment | Type of Modifications | Number of Modifications | Recorded Investment | Type of Modifications | |||||||||||||||||||||||||||
Construction and land development | — | $ | — | 1 | $ | 284 | (a) | |||||||||||||||||||||||||
Farm Loans | 2 | 44 | (b) | — | — | |||||||||||||||||||||||||||
1-4 Family residential properties | 4 | 250 | (b)(c) | 5 | 251 | (a)(b)(c) | ||||||||||||||||||||||||||
Commercial real estate | 1 | 501 | (b)(c) | 1 | 39 | (c) | ||||||||||||||||||||||||||
Loans secured by real estate | 7 | 795 | 7 | 574 | ||||||||||||||||||||||||||||
Commercial and industrial loans | — | — | 2 | 211 | (a)(b)(c) | |||||||||||||||||||||||||||
Consumer Loans | — | — | 4 | 14 | (b)(c) | |||||||||||||||||||||||||||
Total | 7 | $ | 795 | 13 | $ | 799 | ||||||||||||||||||||||||||
Type of modifications: | ||||||||||||||||||||||||||||||||
(a) Reduction of stated interest rate of loan | ||||||||||||||||||||||||||||||||
(b) Change in payment terms | ||||||||||||||||||||||||||||||||
(c) Extension of maturity date | ||||||||||||||||||||||||||||||||
(d) Permanent reduction of the recorded investment | ||||||||||||||||||||||||||||||||
A loan is considered to be in payment default once it is 90 days past due under the modified terms. There were no loans modified as troubled debt restructurings during the prior twelve months that experienced defaults during the year ended December 31, 2014 and 2013. |
Premises_and_Equipment_Net_Not
Premises and Equipment, Net (Notes) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Premises and Equipment, Net | Premises and Equipment, Net | ||||||||
Premises and equipment at December 31, 2014 and 2013 consisted of: | |||||||||
2014 | 2013 | ||||||||
Land | $ | 5,966 | $ | 5,966 | |||||
Buildings and improvements | 29,617 | 28,962 | |||||||
Furniture and equipment | 15,936 | 16,601 | |||||||
Leasehold improvements | 2,646 | 3,138 | |||||||
Construction in progress | — | 62 | |||||||
Subtotal | 54,165 | 54,729 | |||||||
Accumulated depreciation and amortization | 26,813 | 26,151 | |||||||
Total | $ | 27,352 | $ | 28,578 | |||||
Depreciation and amortization expense was $2.40 million, $2.49 million and $2.53 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill and Intangible Assets | Goodwill and Intangible Assets | ||||||||||||||||
The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of insurance agencies acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2014 and 2013: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | ||||||||||||||
Goodwill not subject to amortization | $ | 29,513 | $ | 3,760 | $ | 29,513 | $ | 3,760 | |||||||||
Intangibles from branch acquisition | 3,015 | 3,015 | 3,015 | 3,015 | |||||||||||||
Core deposit intangibles | 8,986 | 7,142 | 8,986 | 6,499 | |||||||||||||
Customer list intangibles | 1,904 | 1,904 | 1,904 | 1,904 | |||||||||||||
$ | 43,418 | $ | 15,821 | $ | 43,418 | $ | 15,178 | ||||||||||
Total amortization expense for the years ended December 31, 2014, 2013 and 2012 was as follows: | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Intangibles from branch acquisitions | $ | — | $ | — | $ | 50 | |||||||||||
Core deposit intangibles | 643 | 674 | 706 | ||||||||||||||
Customer list intangibles | — | — | 17 | ||||||||||||||
$ | 643 | $ | 674 | $ | 773 | ||||||||||||
Estimated amortization expense for each of the five succeeding years is shown in the table below: | |||||||||||||||||
For period ended 12/31/15 | $ | 616 | |||||||||||||||
For period ended 12/31/16 | 381 | ||||||||||||||||
For period ended 12/31/17 | 254 | ||||||||||||||||
For period ended 12/31/18 | 232 | ||||||||||||||||
For period ended 12/31/19 | 213 | ||||||||||||||||
In accordance with the provisions of SFAS 142,”Goodwill and Other Intangible Assets,” codified in ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2014 and 2013, and determined, as of each of these dates, that goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets. |
Deposits_Notes
Deposits (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Deposits [Abstract] | |||||||||||||
Deposit Liabilities Disclosures [Text Block] | Deposits | ||||||||||||
As of December 31, 2014 and 2013, deposits consisted of the following: | |||||||||||||
2014 | 2013 | ||||||||||||
Demand deposits: | |||||||||||||
Non-interest bearing | $ | 222,116 | $ | 235,448 | |||||||||
Interest-bearing | 306,631 | 291,035 | |||||||||||
Savings | 273,958 | 279,227 | |||||||||||
Money market | 251,095 | 253,255 | |||||||||||
Time deposits | 218,277 | 228,651 | |||||||||||
Total deposits | $ | 1,272,077 | $ | 1,287,616 | |||||||||
Total interest expense on deposits for the years ended December 31, 2014, 2013 and 2012 was as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest-bearing demand | $ | 101 | $ | 102 | $ | 195 | |||||||
Savings | 375 | 452 | 1,186 | ||||||||||
Money market | 588 | 693 | 1,248 | ||||||||||
Time deposits | 1,287 | 1,456 | 2,214 | ||||||||||
Total | $ | 2,351 | $ | 2,703 | $ | 4,843 | |||||||
As of December 31, 2014, 2013 and 2012, the aggregate amount of time deposits in denominations of more than $100,000 and the total interest expense on such deposits was as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Outstanding | $ | 98,445 | $ | 96,715 | $ | 62,563 | |||||||
Interest expense for the year | 598 | 546 | 826 | ||||||||||
The following table shows the amount of maturities for all time deposits as of December 31, 2014: | |||||||||||||
Less than 1 year | $ | 152,490 | |||||||||||
1 year to 2 years | 33,173 | ||||||||||||
2 years to 3 years | 13,962 | ||||||||||||
3 years to 4 years | 10,812 | ||||||||||||
4 years to 5 years | 7,694 | ||||||||||||
Over 5 years | 146 | ||||||||||||
Total | $ | 218,277 | |||||||||||
In 2014 the Company maintained account relationships with various public entities throughout its market areas. five public entities had total balances of $46.7 million in various checking accounts and time deposits as of December 31, 2014. These balances are subject to change depending upon the cash flow needs of the public entity. |
Borrowings
Borrowings | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Borrowings | Aggregate annual maturities of FHLB advances and subordinated debentures at December 31, 2014 are: | ||||||||||||
2015 | $ | 5,000 | |||||||||||
2016 | 5,000 | ||||||||||||
2017 | — | ||||||||||||
2018 | — | ||||||||||||
2019 | — | ||||||||||||
Thereafter | 30,620 | ||||||||||||
$ | 40,620 | ||||||||||||
FHLB advances represent borrowings by First Mid Bank to economically fund loan demand. At December 31, 2014 the advances totaling $20 million were as follows: | |||||||||||||
• | $5 million advance with a 2-year maturity, at .57%, due August 26, 2015 | ||||||||||||
• | $5 million advance with a 10-year maturity, at 4.58%, due July 13, 2016, one year lockout, callable quarterly | ||||||||||||
• | $5 million advance with a 6-year maturity, at 2.30% due August 24, 2020 | ||||||||||||
• | $5 million advance with a 7-year maturity, at 2.55% due October 1, 2021 | ||||||||||||
Securities sold under agreements to repurchase have overnight maturities and a weighted average rate of .05%. First Mid Bank has collateral pledge agreements whereby it has agreed to keep on hand at all times, free of all other pledges, liens, and encumbrances, whole first mortgages on improved residential property with unpaid principal balances aggregating no less than 133% of the outstanding advances and letters of credit ($0 on December 31, 2014) from the FHLB. The securities underlying the repurchase agreements are under the Company’s control. | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Securities sold under agreements to repurchase: | |||||||||||||
Maximum outstanding at any month-end | $ | 121,869 | $ | 119,187 | $ | 118,030 | |||||||
Average amount outstanding for the year | 97,478 | 87,468 | 113,443 | ||||||||||
At December 31, 2014 and 2013, there was no outstanding loan balance on a revolving credit agreement with The Northern Trust Company. This loan was renewed on April 18, 2014. The revolving credit agreement has a maximum available balance of $15 million with a term of one year from the date of closing. The interest rate (2.5% at December 31, 2013) is floating at 2.25% over the federal funds rate. The loan is unsecured and subject to a borrowing agreement containing requirements for the Company and First Mid Bank to maintain various operating and capital ratios. The Company and First Mid Bank were in compliance with all the existing covenants at December 31, 2014 and 2013. | |||||||||||||
On February 27, 2004, the Company completed the issuance and sale of $10 million of floating rate trust preferred securities through Trust I, a statutory business trust and wholly-owned unconsolidated subsidiary of the Company, as part of a pooled offering. The Company established Trust I for the purpose of issuing the trust preferred securities. The $10 million in proceeds from the trust preferred issuance and an additional $310,000 for the Company’s investment in common equity of the Trust, a total of $10,310,000, was invested in junior subordinated debentures of the Company. The underlying junior subordinated debentures issued by the Company to Trust I mature in 2034, bear interest at three-month London Interbank Offered Rate (“LIBOR”) plus 280 basis points, reset quarterly, and are callable, at the option of the Company, at par on or after April 7, 2009. At December 31, 2014 and 2013 the rate was 3.08% and 3.09%, respectively. The Company used the proceeds of the offering for general corporate purposes. | |||||||||||||
On April 26, 2006, the Company completed the issuance and sale of $10 million of fixed/floating rate trust preferred securities through Trust II, a statutory business trust and wholly-owned unconsolidated subsidiary of the Company, as part of a pooled offering. The Company established Trust II for the purpose of issuing the trust preferred securities. The $10 million in proceeds from the trust preferred issuance and an additional $310,000 for the Company’s investment in common equity of Trust II, a total of $10,310,000, was invested in junior subordinated debentures of the Company. The underlying junior subordinated debentures issued by the Company to Trust II mature in 2036, bore interest at a fixed rate of 6.98% paid quarterly until June 15, 2011 and then converted to floating rate (LIBOR plus 160 basis points) after June 15, 2011 (1.84% and 1.84% at December 31, 2014 and 2013). The net proceeds to the Company were used for general corporate purposes, including the Company’s acquisition of Mansfield. | |||||||||||||
The trust preferred securities issued by Trust I and Trust II are included as Tier 1 capital of the Company for regulatory capital purposes. On March 1, 2005, the Federal Reserve Board adopted a final rule that allows the continued limited inclusion of trust preferred securities in the calculation of Tier 1 capital for regulatory purposes. The final rule provided a five-year transition period, ending September 30, 2010, for application of the revised quantitative limits. On March 17, 2009, the Federal Reserve Board adopted an additional final rule that delayed the effective date of the new limits on inclusion of trust preferred securities in the calculation of Tier 1 capital until September 30, 2011. The Company does not expect the application of the revised quantitative limits to have a significant impact on its calculation of Tier 1 capital for regulatory purposes or its classification as well-capitalized. The Dodd-Frank Act, signed into law July 21, 2010, removes trust preferred securities as a permitted component of a holding company’s Tier 1 capital after a three-year phase-in period beginning January 1, 2013 for larger holding companies. For holding companies with less than $15 billion in consolidated assets, existing issues of trust preferred securities are grandfathered and not subject to this new restriction. Therefore, the existing trust preferred securities issued by Trust I and Trust II will continue to count as Tier I capital. New issuances of trust preferred securities, however would not count as Tier 1 regulatory capital. |
Regulatory_Capital_Notes
Regulatory Capital (Notes) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | Regulatory Capital | ||||||||||||||||||
The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Bank holding companies follow minimum regulatory requirements established by the Board of Governors of the Federal Reserve System (“Federal Reserve System”), and First Mid Bank follows similar minimum regulatory requirements established for national banks by the Office of the Comptroller of the Currency (“OCC”). Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary action by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. | |||||||||||||||||||
Quantitative measures established by each regulatory agency to ensure capital adequacy require the reporting institutions to maintain a minimum total risk-based capital ratio of 8%, a minimum Tier 1 risk-based capital ratio of 4% and a minimum leverage ratio of 3% for the most highly rated banks that do not expect significant growth. All other institutions are required to maintain a minimum leverage ratio of 4%. Management believes that, as of December 31, 2014 and 2013, the Company and First Mid Bank met all capital adequacy requirements. | |||||||||||||||||||
As of December 31, 2014 and 2013, the most recent notification from the primary regulators categorized First Mid Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios must be maintained as set forth in the table below. At December 31, 2014, there were no conditions or events since the most recent notification that management believes have changed this categorization. | |||||||||||||||||||
Actual | Required Minimum For Capital Adequacy Purposes | To Be Well-Capitalized Under Prompt Corrective Action Provisions | |||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
31-Dec-14 | |||||||||||||||||||
Total Capital (to risk-weighted assets) | |||||||||||||||||||
Company | $ | 180,678 | 15.6 | % | $ | 92,675 | > 8.00% | N/A | N/A | ||||||||||
First Mid Bank | 172,991 | 15.02 | % | 92,110 | > 8.00 | $ | 115,137 | > 10.00% | |||||||||||
Tier 1 Capital (to risk-weighted assets) | |||||||||||||||||||
Company | 166,996 | 14.42 | % | 46,338 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 159,309 | 13.84 | % | 46,055 | > 4.00 | 69,082 | > 6.00 | ||||||||||||
Tier 1 Capital (to average assets) | |||||||||||||||||||
Company | 166,996 | 10.52 | % | 63,493 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 159,309 | 10.08 | % | 63,210 | > 4.00 | 79,012 | > 5.00 | ||||||||||||
31-Dec-13 | |||||||||||||||||||
Total Capital (to risk-weighted assets) | |||||||||||||||||||
Company | $ | 170,344 | 15.58 | % | $ | 87,472 | > 8.00% | N/A | N/A | ||||||||||
First Mid Bank | 161,650 | 14.89 | % | 86,830 | > 8.00 | $ | 108,538 | > 10.00% | |||||||||||
Tier 1 Capital (to risk-weighted assets) | |||||||||||||||||||
Company | 157,095 | 14.37 | % | 43,736 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 148,401 | 13.67 | % | 43,415 | > 4.00 | 65,123 | > 6.00 | ||||||||||||
Tier 1 Capital (to average assets) | |||||||||||||||||||
Company | 157,095 | 10.12 | % | 62,069 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 148,401 | 9.62 | % | 61,737 | > 4.00 | 77,171 | > 5.00 | ||||||||||||
Disclosures_of_Fair_Values_of_
Disclosures of Fair Values of Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value of Assets and Liabilities | Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: | |||||||||||||||||||
Level 1 | Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||||
Level 2 | Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||
Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. | ||||||||||||||||||||
Available-for-Sale Securities. The fair value of available-for-sale securities is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sources market parameters, including but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include subordinated tranches of collateralized mortgage obligations and investments in trust preferred securities. | ||||||||||||||||||||
Fair value determinations for Level 3 measurements of securities are the responsibility of the Treasury function of the Company. The Company contracts with a pricing specialist to generate fair value estimates on a monthly basis. The Treasury function of the Company challenges the reasonableness of the assumptions used and reviews the methodology to ensure the estimated fair value complies with accounting standards generally accepted in the United States, analyzes the changes in fair value and compares these changes to internally developed expectations and monitors these changes for appropriateness. | ||||||||||||||||||||
The trust preferred securities are collateralized debt obligation securities that are backed by trust preferred securities issued by banks, thrifts, and insurance companies. The market for these securities at December 31, 2014 is not active and markets for similar securities are also not active. The inactivity was evidenced first by a significant widening of the bid-ask spread in the brokered markets in which trust preferred securities trade and then by a significant decrease in the volume of trades relative to historical levels. The new issue market is also inactive and will continue to be, as a result of the Dodd-Frank Act’s elimination of trust preferred securities from Tier 1 capital for certain holding companies. There are currently very few market participants who are willing and or able to transact for these securities. The market values for these securities are very depressed relative to historical levels. | ||||||||||||||||||||
Given conditions in the debt markets today and the absence of observable transactions in the secondary and new issue markets, we determined: | ||||||||||||||||||||
• | The few observable transactions and market quotations that are available are not reliable for purposes of determining fair value at December 31, 2014, | |||||||||||||||||||
• | An income valuation approach technique (present value technique) that maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs will be equally or more representative of fair value than the market approach valuation technique used at prior measurement dates, and | |||||||||||||||||||
• | The trust preferred securities held by the Company will be classified within Level 3 of the fair value hierarchy because we determined that significant adjustments are required to determine fair value at the measurement date. | |||||||||||||||||||
The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||
Fair Value | (Level 3) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 99,957 | $ | — | $ | 99,957 | $ | — | ||||||||||||
Obligations of states and political subdivisions | 78,084 | — | 78,084 | — | ||||||||||||||||
Mortgage-backed securities | 195,401 | — | 195,401 | — | ||||||||||||||||
Trust preferred securities | 364 | — | — | 364 | ||||||||||||||||
Other securities | 4,050 | 55 | 3,995 | — | ||||||||||||||||
Total available-for-sale securities | $ | 377,856 | $ | 55 | $ | 377,437 | $ | 364 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 190,368 | $ | — | $ | 190,368 | $ | — | ||||||||||||
Obligations of states and political subdivisions | 64,562 | — | 64,562 | — | ||||||||||||||||
Mortgage-backed securities | 227,601 | — | 227,601 | — | ||||||||||||||||
Trust preferred securities | 191 | — | — | 191 | ||||||||||||||||
Other securities | 6,002 | 67 | 5,935 | — | ||||||||||||||||
Total available-for-sale securities | $ | 488,724 | $ | 67 | $ | 488,466 | $ | 191 | ||||||||||||
The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2014 and 2013 is summarized as follows (in thousands): | ||||||||||||||||||||
Trust Preferred Securities | ||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||
Beginning balance | $ | 191 | $ | 585 | ||||||||||||||||
Transfers into Level 3 | — | — | ||||||||||||||||||
Transfers out of Level 3 | — | — | ||||||||||||||||||
Total gains or losses | ||||||||||||||||||||
Included in net income | — | — | ||||||||||||||||||
Included in other comprehensive income (loss) | 525 | 928 | ||||||||||||||||||
Purchases, issuances, sales and settlements | ||||||||||||||||||||
Purchases | — | — | ||||||||||||||||||
Issuances | — | — | ||||||||||||||||||
Sales | — | (1,138 | ) | |||||||||||||||||
Settlements | (352 | ) | (184 | ) | ||||||||||||||||
Ending balance | $ | 364 | $ | 191 | ||||||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | $ | — | $ | — | ||||||||||||||||
Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. | ||||||||||||||||||||
Impaired Loans (Collateral Dependent) | ||||||||||||||||||||
Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment and estimating fair value include using the fair value of the collateral for collateral dependent loans. | ||||||||||||||||||||
If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. | ||||||||||||||||||||
Management establishes a specific allowance for loans that have an estimated fair value that is below the carrying value. The total carrying amount of loans for which a specific allowance has been established as of December 31, 2014 was $1,576,000 and a fair value of $1,313,000 resulting in specific loss exposures of $263,000. As of December 31, 2013, the total carrying amount of loans for which a specific reserve had been established was $1,987,000. These loans had a fair value of $1,383,000 which resulted in specific loss exposures of $604,000. | ||||||||||||||||||||
When there is little prospect of collecting principal or interest, loans, or portions of loans, may be charged-off to the allowance for loan losses. Losses are recognized in the period an obligation becomes uncollectible. The recognition of a loss does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan even though partial recovery may be affected in the future. | ||||||||||||||||||||
Foreclosed Assets Held For Sale | ||||||||||||||||||||
Other real estate owned acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value declines subsequent to foreclosure, a valuation allowance is recorded through noninterest expense. Operating costs associated with the assets after acquisition are also recorded as noninterest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other noninterest expense. The total carrying amount of other real estate owned as of December 31, 2014 was $263,000. Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the period amounted to $0. The total carrying amount of other real estate owned as of December 31, 2013 was $568,000. Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the period amounted to $172,000. | ||||||||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||
Fair Value | (Level 3) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,313 | $ | — | $ | — | $ | 1,313 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,383 | $ | — | $ | — | $ | 1,383 | ||||||||||||
Foreclosed assets held for sale | 172 | — | — | 172 | ||||||||||||||||
Sensitivity of Significant Unobservable Inputs | ||||||||||||||||||||
The following is a discussion of the sensitivity of significant unobservable inputs, the interrelationships between those inputs and other unobservable inputs used in recurring fair value measurement and of how those inputs might magnify or mitigate the effect of changes in the unobservable inputs on the fair value measurement. | ||||||||||||||||||||
Trust Preferred Securities. The significant unobservable inputs used in the fair value measurement of the Company’s trust preferred securities are offered quotes and comparability adjustments. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, changes in either of those inputs will not affect the other input. | ||||||||||||||||||||
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill at December 31, 2014. | ||||||||||||||||||||
Fair Value (in thousands) | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | |||||||||||||||||
Trust Preferred Securities | $ | 364 | Discounted cash flow | Discount rate | 11.6 | % | ||||||||||||||
Constant prepayment rate (1) | 1.3 | % | ||||||||||||||||||
Cumulative projected prepayments | 24.4 | % | ||||||||||||||||||
Probability of default | 0.1 | % | ||||||||||||||||||
Projected cures given deferral | 100 | % | ||||||||||||||||||
Loss severity | 97.4 | % | ||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,313 | Third party valuations | Discount to reflect realizable value | 0 | % | - | 40% | ( | 20 | % | ) | ||||||||
-1 | Every five years | |||||||||||||||||||
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill at December 31, 2013. | ||||||||||||||||||||
Fair Value (in thousands) | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | |||||||||||||||||
Trust Preferred Securities | $ | 191 | Discounted cash flow | Discount rate | 15.50% | |||||||||||||||
Constant prepayment rate (1) | 1.30% | |||||||||||||||||||
Cumulative projected prepayments | 23.50% | |||||||||||||||||||
Probability of default | 0.20% | |||||||||||||||||||
Projected cures given deferral | 50.70% | |||||||||||||||||||
Loss severity | 96.10% | |||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,383 | Third party valuations | Discount to reflect realizable value | 0% | - | 40% | ( | 20% | ) | ||||||||||
Foreclosed assets held for sale | $ | 172 | Third party valuations | Discount to reflect realizable value less estimated selling costs | 0% | - | 40% | ( | 35% | ) | ||||||||||
-1 | Every five years | |||||||||||||||||||
Other. The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. | ||||||||||||||||||||
Cash and Cash Equivalents, Interest Receivable, Federal Reserve and Federal Home Loan Bank Stock | ||||||||||||||||||||
The carrying amount approximates fair value. | ||||||||||||||||||||
Held-to-Maturity Securities | ||||||||||||||||||||
Fair Value is 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. | ||||||||||||||||||||
Loans | ||||||||||||||||||||
For loans with floating interest rates, it is assumed that the estimated fair values generally approximate the carrying amount balances. Fixed rate loans have been valued using a discounted present value of projected cash flow. The discount rate used in these calculations is the current rate at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The carrying amount of accrued interest approximates its fair value. | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Deposits include demand deposits, savings accounts, NOW accounts and certain money market deposits. The carrying amount of these deposits approximates fair value. The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. | ||||||||||||||||||||
Securities Sold Under Agreements to Repurchase | ||||||||||||||||||||
The fair value of securities sold under agreements to repurchased is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. | ||||||||||||||||||||
Interest Payable | ||||||||||||||||||||
The carrying amount approximates fair value. | ||||||||||||||||||||
Subordinated Debentures and Federal Home Loan Bank Advances | ||||||||||||||||||||
Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt. | ||||||||||||||||||||
The following tables present estimated fair values of the Company’s financial instruments at December 31, 2014 and 2013 in accordance with FAS 107-1 and APB 28-1, codified with ASC 805 (in thousands): | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Value | |||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and due from banks | $ | 51,236 | $ | 51,236 | $ | 51,236 | $ | — | $ | — | ||||||||||
Federal funds sold | 494 | 494 | 494 | — | — | |||||||||||||||
Available-for-sale securities | 377,856 | 377,856 | 55 | 377,437 | 364 | |||||||||||||||
Held-to-maturity securities | 53,650 | 53,937 | — | 53,937 | — | |||||||||||||||
Loans held for sale | 1,958 | 1,958 | — | 1,958 | — | |||||||||||||||
Loans net of allowance for loan losses | 1,046,766 | 1,051,110 | — | — | 1,051,110 | |||||||||||||||
Interest receivable | 6,828 | 6,828 | — | 6,828 | — | |||||||||||||||
Federal Reserve Bank stock | 1,522 | 1,522 | — | 1,522 | — | |||||||||||||||
Federal Home Loan Bank stock | 3,391 | 3,391 | — | 3,391 | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits | 1,272,077 | 1,272,358 | — | 1,053,800 | 218,558 | |||||||||||||||
Securities sold under agreements to repurchase | 121,869 | 121,870 | — | 121,870 | — | |||||||||||||||
Interest payable | 285 | 285 | — | 285 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 20,000 | 20,541 | — | 20,541 | — | |||||||||||||||
Junior subordinated debentures | 20,620 | 12,528 | — | 12,528 | — | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and due from banks | $ | 64,605 | $ | 64,605 | $ | 64,605 | $ | — | $ | — | ||||||||||
Federal funds sold | 497 | 497 | 497 | — | — | |||||||||||||||
Available-for-sale securities | 488,724 | 488,724 | 67 | 488,466 | 191 | |||||||||||||||
Loans held for sale | 514 | 514 | — | 514 | — | |||||||||||||||
Loans net of allowance for loan losses | 969,041 | 964,253 | — | — | 964,253 | |||||||||||||||
Interest receivable | 6,614 | 6,614 | — | 6,614 | — | |||||||||||||||
Federal Reserve Bank stock | 1,522 | 1,522 | — | 1,522 | — | |||||||||||||||
Federal Home Loan Bank stock | 3,391 | 3,391 | — | 3,391 | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits | 1,287,616 | 1,287,887 | — | 1,058,965 | 228,922 | |||||||||||||||
Securities sold under agreements to repurchase | 119,187 | 119,190 | — | 119,190 | — | |||||||||||||||
Interest payable | 277 | 277 | — | 277 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 20,000 | 20,530 | — | 20,530 | — | |||||||||||||||
Junior subordinated debentures | 20,620 | 12,041 | — | 12,041 | — | |||||||||||||||
Deferred_Compensation_Plan_Not
Deferred Compensation Plan (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Compensation Related Costs [Abstract] | |
Deferred Compensation Plan | Deferred Compensation Plan |
The Company follows the provisions of ASC 710, for purposes of the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan (“DCP”). At December 31, 2014, the Company classified the cost basis of its common stock issued and held in trust in connection with the DCP of approximately $3,539,000 as treasury stock. The Company also classified the cost basis of its related deferred compensation obligation of approximately $3,539,000 as an equity instrument (deferred compensation). | |
The DCP was effective as of June 1984. The purpose of the DCP is to enable directors, advisory directors, and key employees the opportunity to defer a portion of the fees and cash compensation paid by the Company as a means of maximizing the effectiveness and flexibility of compensation arrangements. The Company invests all participants’ deferrals in shares of common stock. Dividends paid on the shares are credited to participants’ DCP accounts and invested in additional shares. During 2014 and 2013 the Company issued 13,724 common shares and 12,700 common shares, respectively, pursuant to the DCP. |
Stock_Incentive_Plan_Notes
Stock Incentive Plan (Notes) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||
Stock Incentive Plan | Stock Incentive Plan | ||||||||||||||||||
At the Annual Meeting of Stockholders held May 23, 2007, the stockholders approved the First Mid-Illinois Bancshares, Inc. 2007 Stock Incentive Plan (“SI Plan”). The SI Plan was implemented to succeed the Company’s 1997 Stock Incentive Plan, which had a ten-year term that expired October 21, 2007, under which there are still options outstanding. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its subsidiaries may sustain a sense of proprietorship and personal involvement in the continued development and financial success of the Company and its subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of Common Stock of the Company on the terms and conditions established in the SI Plan. | |||||||||||||||||||
On September 27, 2011, the Board of Directors passed a resolution authorizing and approving the Executive Long-Term Incentive Plan (“LTIP”). The LTIP was implemented to provide methodology for granting Stock Awards and Stock Unit Awards under the SI Plan to select senior executives of the Company or any subsidiary. | |||||||||||||||||||
A maximum of 300,000 shares are authorized under the SI Plan. This amount reflects the Company’s stock split which occurred on June 29, 2007. Options to acquire shares are awarded at an exercise price equal to the fair market value of the shares on the date of grant and have a 10-year term. Options granted to employees vested over a four-year period and options granted to directors vested at the time they were issued. Prior to December 31, 2008, the Company had awarded 59,500 shares as stock options under the SI Plan. During 2014, 2013 and 2012, the Company awarded 19,377 shares, 14,054 shares and 15,162 shares, respectively as 50% Stock Awards and 50% Stock Unit Awards under the LTIP of the SI Plan. | |||||||||||||||||||
The fair value of options granted was estimated on the grant date using the Black-Scholes option-pricing model. Expected volatility was based on historical volatility of the Company’s stock and other factors. The Company used historical data to estimate option exercises and employee termination within the valuation model; separate groups of employees who had similar historical exercise behavior were considered separately for valuation purposes. The expected term of options granted was derived from the output of the option valuation model and represented the period of time that options granted were expected to be outstanding. The risk-free rate for periods within the contractual life of the option was based on the U.S. Treasury yield curve in effect at the time of the grant. There were no options granted during 2014, 2013 or 2012. | |||||||||||||||||||
The following table summarizes the compensation cost, net of forfeitures, related to stock-based compensation for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Stock and stock unit awards: | |||||||||||||||||||
Pre-tax compensation expense | $ | 376 | $ | 339 | $ | 210 | |||||||||||||
Income tax benefit | (132 | ) | (118 | ) | (73 | ) | |||||||||||||
Stock and stock unit awards expense, net of income taxes | $ | 244 | $ | 221 | $ | 137 | |||||||||||||
Stock options: | |||||||||||||||||||
Pre-tax compensation expense | $ | — | $ | — | $ | 17 | |||||||||||||
Income tax benefit | — | — | (6 | ) | |||||||||||||||
Stock options expense, net of income taxes | $ | — | $ | — | $ | 11 | |||||||||||||
Total share-based compensation: | |||||||||||||||||||
Pre-tax compensation expense | $ | 376 | $ | 339 | $ | 227 | |||||||||||||
Income tax benefit | (132 | ) | (118 | ) | (79 | ) | |||||||||||||
Total share-based compensation expense, net of income taxes | $ | 244 | $ | 221 | $ | 148 | |||||||||||||
A summary of option activity under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2014, 2013 and 2012, and changes during the years then ended is presented below: | |||||||||||||||||||
2014 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 128,750 | $26.20 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 0 | 0 | |||||||||||||||||
Forfeited or expired | 76,750 | 27.25 | |||||||||||||||||
Outstanding, end of year | 52,000 | $24.64 | 3.43 | $ | — | ||||||||||||||
Exercisable, end of year | 52,000 | $24.64 | 3.43 | $ | — | ||||||||||||||
There were no options exercised during 2014. Stock options for 52,000 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2014 because they were anti-dilutive. | |||||||||||||||||||
2013 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 176,625 | $24.88 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 39,373 | 20.67 | |||||||||||||||||
Forfeited or expired | 8,502 | 24.34 | |||||||||||||||||
Outstanding, end of year | 128,750 | $26.20 | 2.42 | $ | — | ||||||||||||||
Exercisable, end of year | 128,750 | $26.20 | 2.42 | $ | — | ||||||||||||||
The total intrinsic value of options exercised during 2013 was $75,000. Stock options for 128,750 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2013 because they were anti-dilutive. | |||||||||||||||||||
2012 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 228,140 | $23.09 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 44,763 | 15.9 | |||||||||||||||||
Forfeited or expired | 6,752 | 24 | |||||||||||||||||
Outstanding, end of year | 176,625 | $24.88 | 2.81 | $ | 89,061 | ||||||||||||||
Exercisable, end of year | 170,000 | $24.95 | 2.69 | $ | 89,061 | ||||||||||||||
The total intrinsic value of options exercised during 2012 was $332,000. Stock options for 108,125 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2012 because they were anti-dilutive. | |||||||||||||||||||
A summary of the status of the Company’s shares subject to unvested options under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2013 and 2012, and changes during the years then ended, is presented below. All options were vested as of December 31, 2013. | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Weighted-Average Grant-Date | Weighted-Average Grant-Date | ||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||
Shares | Shares | ||||||||||||||||||
Unvested, beginning of year | 6,625 | $2.51 | 20,875 | $3.16 | |||||||||||||||
Granted | 0 | $0.00 | 0 | $0.00 | |||||||||||||||
Vested | -6,375 | $3.47 | -14,250 | $3.47 | |||||||||||||||
Forfeited | 250 | $3.68 | 0 | $0.00 | |||||||||||||||
Unvested, end of year | 0 | $0.00 | 6,625 | $2.51 | |||||||||||||||
As of December 31, 2014, 2013 and 2012, there were no unrecognized compensation cost related to unvested options granted under the SI Plan. The total fair value of shares subject to options that vested or were forfeited during the years ended December 31, 2014, 2013 and 2012, was $0, $17,000, and $49,000, respectively . The following table summarizes information about stock options under the SI Plan outstanding at December 31, 2014: | |||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Range of Exercise Prices | Number Outstanding | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | Number Exercisable | Weighted-Average Exercise Price | ||||||||||||||
$22.50 to $24.50 | 24,500 | 3.96 | $23.00 | 24,500 | $23.00 | ||||||||||||||
$24.50 to $26.50 | 27,500 | 2.95 | $26.10 | 27,500 | $26.10 | ||||||||||||||
52,000 | 3.43 | $24.64 | 52,000 | $24.64 | |||||||||||||||
In September 2011, as part of the LTIP approval, the Board approved a form of Stock Award/Stock Unit Award Agreement and a form of Stock Unit Award Agreement. These forms set forth the terms and conditions of the Stock Awards and Stock Units granted to participants in the Plan as part of their Annual Performance Award and Cumulative Performance Award. Each of the Annual Performance Award and Cumulative Performance Award consists of Stock Awards (50%) and Stock Units (50%), except that Awards to retirement-eligible employees are made 100% in Stock Units. The target number of shares subject to the Stock Awards and/or Stock Units is adjusted by the Board at the end of each applicable performance period based on the actual level of attainment of performance goals previously set by the Board. The Annual Performance Award has a one-year performance period and vest over four years. The Cumulative Performance Award has a three-year performance period and vest at the end of the three-year period. Stock Awards are settled in shares while Stock Units are settled in cash (although Stock Units held by retirement-eligible employees are settled half in shares and half in cash). The following table summarizes non-vested stock and stock unit activity for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Shares | Weighted-avg Grant-date Fair Value | Shares | Weighted-avg Grant-date Fair Value | Shares | Weighted-avg Grant-date Fair Value | ||||||||||||||
Nonvested, beginning of year | 24,799 | $24.16 | 25,337 | $22.16 | 15,096 | $18.70 | |||||||||||||
Granted | 19,377 | 22 | 14,054 | 23.46 | 15,162 | 25.5 | |||||||||||||
Vested | -14,499 | 23.72 | -14,592 | 20.01 | -4,179 | 21.84 | |||||||||||||
Forfeited | -2,780 | 23.12 | 0 | 0 | -742 | 21.87 | |||||||||||||
Nonvested, end of year | 26,897 | $22.95 | 24,799 | $24.16 | 25,337 | $22.16 | |||||||||||||
Fair value of shares vested | $ | 343,910 | $ | 329,721 | $ | 91,259 | |||||||||||||
The fair value of the awards is amortized to compensation expense over the vesting periods of the awards (four years for annual awards and three years for cumulative awards) and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. As of December 31, 2014, 2013 and 2012, there was $435,000, $470,000, and $400,000, respectively, of total unrecognized compensation cost related to unvested stock and stock unit awards under the SI. That cost is expected to be recognized over the remaining three-year period. |
Retirement_Plans_Notes
Retirement Plans (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | Retirement Plans |
The Company has a defined contribution retirement plan which covers substantially all employees and which provides for a Company contribution equal to 4% of each participant’s compensation and a Company matching contribution of up to 50% of the first 4% of pre-tax contributions made by each participant. Employee contributions are limited to the 402(g) limit of compensation. The total expense for the plan amounted to $1,089,000, $1,029,000 and $1,070,000 in 2014, 2013 and 2012, respectively. The Company also has two agreements in place to pay $50,000 annually for 20 years from the retirement date to the surviving spouse of a deceased former senior officer of the Company and to one senior officer that retired December 31, 2013. Total expense under these two agreements amounted to $15,000, $17,000 and $35,000 in 2014, 2013 and 2012, respectively. The current liability recorded for these two agreements was $785,000 and $871,000, as of December 31, 2014 and 2013, respectively. |
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Taxes | Income Taxes | ||||||||||||
The components of federal and state income tax expense for the years ended December 31, 2014, 2013 and 2012 were as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current | |||||||||||||
Federal | $ | 6,956 | $ | 5,899 | $ | 6,247 | |||||||
State | 2,287 | 1,976 | 1,933 | ||||||||||
Total Current | 9,243 | 7,875 | 8,180 | ||||||||||
Deferred | |||||||||||||
Federal | (17 | ) | 750 | 219 | |||||||||
State | 28 | 221 | 11 | ||||||||||
Total Deferred | 11 | 971 | 230 | ||||||||||
Total | $ | 9,254 | $ | 8,846 | $ | 8,410 | |||||||
Recorded income tax expense differs from the expected tax expense (computed by applying the applicable statutory U.S. federal tax rate of 35% to income before income taxes). During 2014, 2013 and 2012, the Company was in a graduated tax rate position. The principal reasons for the difference are as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected income taxes | $ | 8,650 | $ | 8,249 | $ | 7,852 | |||||||
Effects of: | |||||||||||||
Tax-exempt income | (954 | ) | (877 | ) | (761 | ) | |||||||
Nondeductible interest expense | 10 | 9 | 14 | ||||||||||
State taxes, net of federal taxes | 1,505 | 1,429 | 1,264 | ||||||||||
Other items | 43 | 36 | 41 | ||||||||||
Total | $ | 9,254 | $ | 8,846 | $ | 8,410 | |||||||
Tax expense recorded by the Company during 2014, 2013 and 2012 did not include any interest or penalties. Tax returns filed with the Internal Revenue Service and Illinois Department of Revenue are subject to review by law under a three-year statute of limitations. The Company is no longer subject to U.S. federal or state income tax examinations by tax authorities for years before 2011. | |||||||||||||
The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below: | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 5,522 | $ | 5,348 | |||||||||
Available-for-sale investment securities | 559 | 5,353 | |||||||||||
Deferred compensation | 1,108 | 1,070 | |||||||||||
Supplemental retirement | 317 | 351 | |||||||||||
Core deposit premium and other intangible assets | 341 | 255 | |||||||||||
Interest on non-accrual loans | 35 | 31 | |||||||||||
Other-than-temporary impairment on securities | 449 | 449 | |||||||||||
Other | 412 | 407 | |||||||||||
Total gross deferred tax assets | 8,743 | 13,264 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred loan costs | 110 | 110 | |||||||||||
Goodwill | 3,441 | 3,004 | |||||||||||
Prepaid expenses | 296 | 258 | |||||||||||
FHLB stock dividend | 285 | 285 | |||||||||||
Depreciation | 600 | 731 | |||||||||||
Purchase accounting | — | 66 | |||||||||||
Accumulated accretion | 39 | 33 | |||||||||||
Total gross deferred tax liabilities | 4,771 | 4,487 | |||||||||||
Net deferred tax assets | $ | 3,972 | $ | 8,777 | |||||||||
Net deferred tax assets are recorded in other assets on the consolidated balance sheets. No valuation allowance related to deferred tax assets was recorded at December 31, 2014 and 2013 as management believes it is more likely than not that the deferred tax assets will be fully realized. |
Dividend_Restrictions_Notes
Dividend Restrictions (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Divididends Restrictions [Abstract] | |
Dividend Restrictions | Dividend Restrictions |
The National Bank Act imposes limitations on the amount of dividends that may be paid by a national bank, such as First Mid Bank. Generally, a national bank may pay dividends out of its undivided profits, in such amounts and at such times as the bank’s board of directors deems prudent. Without prior OCC approval, however, a national bank may not pay dividends in any calendar year which, in the aggregate, exceed the bank’s year-to-date net income plus the bank’s adjusted retained net income for the two preceding years. Factors that could adversely affect First Mid Bank’s net income include other-than-temporary impairment on investment securities that result in credit losses and economic conditions in industries where there are concentrations of loans outstanding that result in impairment of these loans and, consequently loan charges and the need for increased allowances for losses. See “Item 1A. Risk Factors,” Note 4 – “Investment Securities” and Note 5 – “Loans” for a more detailed discussion of the factors. | |
The payment of dividends by any financial institution or its holding company is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. As described above, First Mid Bank exceeded its minimum capital requirements under applicable guidelines as of December 31, 2014. As of December 31, 2014, approximately $37.9 million was available to be paid as dividends to the Company by First Mid Bank. Notwithstanding the availability of funds for dividends, however, the OCC may prohibit the payment of any dividends by First Mid Bank if the OCC determines that such payment would constitute an unsafe or unsound practice. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities | |||||||
First Mid Bank enters into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include lines of credit, letters of credit and other commitments to extend credit. Each of these instruments involves, to varying degrees, elements of credit, interest rate and liquidity risk in excess of the amounts recognized in the consolidated balance sheets. The Company uses the same credit policies and requires similar collateral in approving lines of credit and commitments and issuing letters of credit as it does in making loans. The exposure to credit losses on financial instruments is represented by the contractual amount of these instruments. However, the Company does not anticipate any losses from these instruments. | ||||||||
The off-balance sheet financial instruments whose contract amounts represent credit risk at December 31, 2014 and 2013 were as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Unused commitments and lines of credit: | ||||||||
Commercial real estate | $ | 32,927 | $ | 23,770 | ||||
Commercial operating | 133,884 | 139,395 | ||||||
Home equity | 23,285 | 24,071 | ||||||
Other | 47,498 | 52,251 | ||||||
Total | $ | 237,594 | $ | 239,487 | ||||
Standby letters of credit | $ | 5,193 | $ | 4,732 | ||||
Commitments to originate credit represent approved commercial, residential real estate and home equity loans that generally are expected to be funded within ninety days. Lines of credit are agreements by which the Company agrees to provide a borrowing accommodation up to a stated amount as long as there is no violation of any condition established in the loan agreement. Both commitments to originate credit and lines of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the lines and some commitments are expected to expire without being drawn upon, the total amounts do not necessarily represent future cash requirements. | ||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the financial performance of customers to third parties. Standby letters of credit are primarily issued to facilitate trade or support borrowing arrangements and generally expire in one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending credit facilities to customers. The maximum amount of credit that would be extended under letters of credit is equal to the total off-balance sheet contract amount of such instrument at December 31, 2014 and 2013. The Company's deferred revenue under standby letters of credit was nominal. |
Related_Party_Transactions_Not
Related Party Transactions (Notes) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions | Related Party Transactions | ||||||||
Certain officers, directors and principal stockholders of the Company and its subsidiaries, their immediate families or their affiliated companies (“related parties”) have loans with one or more of the subsidiaries. These loans are made in the ordinary course of business on substantially the same terms, including interest and collateral, as those prevailing for comparable transactions with others. Loans to related parties totaled approximately $32,050,000 and $24,539,000 at December 31, 2014 and 2013, respectively. Activity during 2014 and 2013 was as follows: | |||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 24,539 | $ | 21,638 | |||||
New loans | 11,154 | 9,380 | |||||||
Loan repayments | (3,643 | ) | (6,479 | ) | |||||
Ending balance | $ | 32,050 | $ | 24,539 | |||||
Deposits from related parties held by First Mid Bank at December 31, 2014 and 2013 totaled $92,973,000 and $49,435,000, respectively. |
Leases_Notes
Leases (Notes) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Leases [Abstract] | ||||
Leases | Leases | |||
The Company has several noncancellable operating leases, primarily for property rental of banking buildings. These leases are for terms from one year to fifteen years and generally contain renewal options for periods ranging from one year to five years. Rental expense for these leases was $1,240,000, $1,297,000 and $1,293,000 for the years ended December 31, 2014, 2013 and 2012, respectively. Future minimum lease payments under operating leases are: | ||||
Operating Leases | ||||
2015 | $ | 1,041 | ||
2016 | 695 | |||
2017 | 694 | |||
2018 | 619 | |||
2019 | 619 | |||
Thereafter | 674 | |||
Total minimum lease payments | $ | 4,342 | ||
Parent_Company_Only_Financial_
Parent Company Only Financial Statements (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Parent Company Only Financial Statements | Parent Company Only Financial Statements | ||||||||||||
Presented below are condensed balance sheets, statements of income and cash flows for the Company: | |||||||||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Balance Sheets | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash | $ | 1,729 | $ | 2,645 | |||||||||
Premises and equipment, net | 2,789 | 2,935 | |||||||||||
Investment in subsidiaries | 180,774 | 164,311 | |||||||||||
Other assets | 2,248 | 2,584 | |||||||||||
Total Assets | $ | 187,540 | $ | 172,475 | |||||||||
Liabilities and Stockholders’ equity | |||||||||||||
Liabilities | |||||||||||||
Dividends payable | $ | 550 | $ | 1,104 | |||||||||
Debt | 20,620 | 20,620 | |||||||||||
Other liabilities | 1,454 | 1,370 | |||||||||||
Total Liabilities | 22,624 | 23,094 | |||||||||||
Stockholders’ equity | 164,916 | 149,381 | |||||||||||
Total Liabilities and Stockholders’ equity | $ | 187,540 | $ | 172,475 | |||||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Statements of Income and Comprehensive Income | Years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income: | |||||||||||||
Dividends from subsidiaries | $ | 7,900 | $ | 1,438 | $ | 1,438 | |||||||
Other income | 65 | 64 | 64 | ||||||||||
Total income | 7,965 | 1,502 | 1,502 | ||||||||||
Operating expenses | 2,425 | 2,233 | 2,519 | ||||||||||
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries | 5,540 | (731 | ) | (1,017 | ) | ||||||||
Income tax benefit | 948 | 876 | 990 | ||||||||||
Income (loss) before equity in undistributed earnings of subsidiaries | 6,488 | 145 | (27 | ) | |||||||||
Equity in undistributed earnings of subsidiaries | 8,973 | 14,577 | 14,052 | ||||||||||
Net income | $ | 15,461 | $ | 14,722 | $ | 14,025 | |||||||
Other comprehensive income (loss), net of taxes | 7,505 | (12,924 | ) | 1,396 | |||||||||
Comprehensive income | $ | 22,966 | $ | 1,798 | $ | 15,421 | |||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Statements of Cash Flows | Years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 15,461 | $ | 14,722 | $ | 14,025 | |||||||
Adjustments to reconcile net income to net | |||||||||||||
cash provided by operating activities: | |||||||||||||
Depreciation, amortization, accretion, net | 110 | 116 | 114 | ||||||||||
Dividends received from subsidiary | 7,900 | 1,438 | 1,438 | ||||||||||
Equity in undistributed earnings of subsidiaries | (8,973 | ) | (14,577 | ) | (14,052 | ) | |||||||
Increase in other assets | (7,412 | ) | (1,512 | ) | (1,436 | ) | |||||||
Increase in other liabilities | 260 | 180 | 319 | ||||||||||
Net cash provided by operating activities | 7,346 | 367 | 408 | ||||||||||
Cash flows from financing activities: | |||||||||||||
Repayment of short-term debt | — | — | (8,250 | ) | |||||||||
Conversion of preferred stock to shares of common stock | (24,635 | ) | — | — | |||||||||
Proceeds from issuance of preferred stock | — | — | 8,250 | ||||||||||
Proceeds from issuance of common stock | 25,123 | 1,303 | 1,255 | ||||||||||
Purchase of treasury stock | (1,763 | ) | (4,619 | ) | (3,912 | ) | |||||||
Dividends paid on preferred stock | (4,339 | ) | (4,050 | ) | (3,788 | ) | |||||||
Dividends paid on common stock | (2,648 | ) | (2,014 | ) | (2,843 | ) | |||||||
Net cash used in financing activities | (8,262 | ) | (9,380 | ) | (9,288 | ) | |||||||
Decrease in cash | (916 | ) | (9,013 | ) | (8,880 | ) | |||||||
Cash at beginning of year | 2,645 | 11,658 | 20,538 | ||||||||||
Cash at end of year | $ | 1,729 | $ | 2,645 | $ | 11,658 | |||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data -- Unaudited (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Data - Unaudited | Quarterly Financial Data - Unaudited | ||||||||||||||||
The following table presents summarized quarterly data for each of the two years ended December 31, 2014 and 2013: | |||||||||||||||||
Quarters ended in 2014 | |||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | ||||||||||||||
Selected operations data: | |||||||||||||||||
Interest income | $ | 13,362 | $ | 13,600 | $ | 13,807 | $ | 13,965 | |||||||||
Interest expense | 815 | 788 | 805 | 844 | |||||||||||||
Net interest income | 12,547 | 12,812 | 13,002 | 13,121 | |||||||||||||
Provision for loan losses | 323 | 128 | 44 | 134 | |||||||||||||
Net interest income after provision for loan losses | 12,224 | 12,684 | 12,958 | 12,987 | |||||||||||||
Other income | 4,481 | 4,990 | 4,402 | 4,496 | |||||||||||||
Other expense | 10,960 | 11,214 | 11,090 | 11,243 | |||||||||||||
Income before income taxes | 5,745 | 6,460 | 6,270 | 6,240 | |||||||||||||
Income taxes | 2,138 | 2,431 | 2,355 | 2,330 | |||||||||||||
Net income | 3,607 | 4,029 | 3,915 | 3,910 | |||||||||||||
Dividends on preferred shares | 1,104 | 1,104 | 1,105 | 839 | |||||||||||||
Net income available to common stockholders | $ | 2,503 | $ | 2,925 | $ | 2,810 | $ | 3,071 | |||||||||
Basic earnings per common share | $0.43 | $0.49 | $0.48 | $0.48 | |||||||||||||
Diluted earnings per common share | 0.43 | 0.48 | 0.47 | 0.47 | |||||||||||||
Quarters ended in 2013 | |||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | ||||||||||||||
Selected operations data: | |||||||||||||||||
Interest income | $ | 13,202 | $ | 13,206 | $ | 13,446 | $ | 13,605 | |||||||||
Interest expense | 998 | 865 | 824 | 848 | |||||||||||||
Net interest income | 12,204 | 12,341 | 12,622 | 12,757 | |||||||||||||
Provision for loan losses | 480 | 252 | 975 | 486 | |||||||||||||
Net interest income after provision for loan losses | 11,724 | 12,089 | 11,647 | 12,271 | |||||||||||||
Other income | 4,550 | 4,714 | 5,697 | 4,380 | |||||||||||||
Other expense | 10,612 | 10,918 | 11,082 | 10,892 | |||||||||||||
Income before income taxes | 5,662 | 5,885 | 6,262 | 5,759 | |||||||||||||
Income taxes | 2,134 | 2,220 | 2,352 | 2,140 | |||||||||||||
Net income | 3,528 | 3,665 | 3,910 | 3,619 | |||||||||||||
Dividends on preferred shares | 1,104 | 1,105 | 1,104 | 1,104 | |||||||||||||
Net income available to common stockholders | $ | 2,424 | $ | 2,560 | $ | 2,806 | $ | 2,515 | |||||||||
Basic earnings per common share | $ | 0.41 | $ | 0.43 | $ | 0.47 | $ | 0.43 | |||||||||
Diluted earnings per common share | 0.41 | 0.43 | 0.47 | 0.42 | |||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting and Consolidation | Basis of Accounting and Consolidation |
The accompanying consolidated financial statements include the accounts of First Mid-Illinois Bancshares, Inc. (“Company”) and its wholly-owned subsidiaries: Mid-Illinois Data Services, Inc. (“MIDS”), First Mid-Illinois Bank & Trust, N.A. (“First Mid Bank”) and The Checkley Agency, Inc. doing business as First Mid Insurance Group (“First Mid Insurance”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts in the prior year’s consolidated financial statements have been reclassified to conform to the 2014 presentation and there was no impact on net income or stockholders’ equity from these reclassifications. The Company operates as a single segment entity for financial reporting purposes. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America. Following is a description of the more significant of these policies. | |
Use of Estimates | Use of Estimates |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company uses estimates and employs the judgments of management in determining the amount of its allowance for loan losses and income tax accruals and deferrals, in its fair value measurements of investment securities, and in the evaluation of impairment of loans, goodwill, investment securities, and fixed assets. As with any estimate, actual results could differ from these estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties. | |
Fair Value Measurements | Fair Value Measurements |
The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Company estimates the fair value of a financial instrument using a variety of valuation methods. Where financial instruments are actively traded and have quoted market prices, quoted market prices are used for fair value. When the financial instruments are not actively traded, other observable market inputs, such as quoted prices of securities with similar characteristics, may be used, if available, to determine fair value. When observable market prices do not exist, the Company estimates fair value. The Company’s valuation methods consider factors such as liquidity and concentration concerns. Other factors such as model assumptions, market dislocations, and unexpected correlations can affect estimates of fair value. Imprecision in estimating these factors can impact the amount of revenue or loss recorded. | |
At the end of each quarter, the Company assesses the valuation hierarchy for each asset or liability measured. From time to time, assets or liabilities may be transferred within hierarchy levels due to changes in availability of observable market inputs to measure fair value at the measurement date. Transfers into or out of hierarchy levels are based upon the fair value at the beginning of the reporting period. A more detailed description of the fair values measured at each level of the fair value hierarchy can be found in Note 11 – “Disclosures of Fair Values of Financial Instruments.” | |
Cash and Cash Equivalents and Certificates of Deposit Investments | Cash and Cash Equivalents |
For purposes of reporting cash flows, cash equivalents include non-interest bearing and interest bearing cash and due from banks and federal funds sold. Generally, federal funds are sold for one-day periods. | |
Certificates of Deposit Investments | |
Certificates of deposit investments have original maturities of six to twelve months and are carried at cost. | |
Investment Securities | Investment Securities |
The Company classifies its investments in debt and equity securities as either held-to-maturity or available-for-sale in accordance with Statement of Financial Accounting Standards (SFAS) No. 115, “Accounting for Certain Investments in Debt and Equity Securities,” which was codified into ASC 320. Securities classified as held-to-maturity are recorded at cost or amortized cost. Available-for-sale securities are carried at fair value. Fair value calculations are based on quoted market prices when such prices are available. If quoted market prices are not available, estimates of fair value are computed using a variety of techniques, including extrapolation from the quoted prices of similar instruments or recent trades for thinly traded securities, fundamental analysis, or through obtaining purchase quotes. Due to the subjective nature of the valuation process, it is possible that the actual fair values of these investments could differ from the estimated amounts, thereby affecting the financial position, results of operations and cash flows of the Company. If the estimated value of investments is less than the cost or amortized cost, the Company evaluates whether an event or change in circumstances has occurred that may have a significant adverse effect on the fair value of the investment. If such an event or change has occurred and the Company determines that the impairment is other-than-temporary, a further determination is made as to the portion of impairment that is related to credit loss. The impairment of the investment that is related to the credit loss is expensed in the period in which the event or change occurred. The remainder of the impairment is recorded in other comprehensive income. | |
Loans | Loans |
Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and the allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximate the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. | |
The Company’s policy is to discontinue the accrual of interest income on any loan that becomes ninety days past due as to principal or interest or earlier when, in the opinion of management there is reasonable doubt as to the timely collection of principal or interest. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collectability of interest or principal. | |
Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or market value, taking into consideration future commitments to sell the loans. | |
Allowance for Loan Losses | Allowance for Loan Losses |
The Company believes the allowance for loan losses is the critical accounting policy that requires the most significant judgments and assumptions used in the preparation of its consolidated financial statements. An estimate of potential losses inherent in the loan portfolio is determined and an allowance for those losses is established by considering factors including historical loss rates, expected cash flows and estimated collateral values. In assessing these factors, the Company use organizational history and experience with credit decisions and related outcomes. The allowance for loan losses represents the best estimate of losses inherent in the existing loan portfolio. The allowance for loan losses is increased by the provision for loan losses charged to expense and reduced by loans charged off, net of recoveries. The Company evaluates the allowance for loan losses quarterly. If the underlying assumptions later prove to be inaccurate based on subsequent loss evaluations, the allowance for loan losses is adjusted. | |
The Company estimates the appropriate level of allowance for loan losses by separately evaluating impaired and nonimpaired loans. A specific allowance is assigned to an impaired loan when expected cash flows or collateral do not justify the carrying amount of the loan. The methodology used to assign an allowance to a nonimpaired loan is more subjective. Generally, the allowance assigned to nonimpaired loans is determined by applying historical loss rates to existing loans with similar risk characteristics, adjusted for qualitative factors including the volume and severity of identified classified loans, changes in economic conditions, changes in credit policies or underwriting standards, and changes in the level of credit risk associated with specific industries and markets. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is continually assessed and adjusted when appropriate. Notwithstanding these procedures, there still exists the possibility that the assessment could prove to be significantly incorrect and that an immediate adjustment to the allowance for loan losses would be required. | |
Premises and Equipment | Premises and Equipment |
Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization is charged to expense and determined principally by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for each major depreciable classification of premises and equipment are as follows: | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets |
The Company has goodwill from business combinations, identifiable intangible assets assigned to core deposit relationships and customer lists acquired, and intangible assets arising from the rights to service mortgage loans for others. | |
Identifiable intangible assets generally arise from branches acquired that the Company accounted for as purchases. Such assets consist of the excess of the purchase price over the fair value of net assets acquired, with specific amounts assigned to core deposit relationships and customer lists primarily related to insurance agency. Intangible assets are amortized by the straight-line method over various periods up to fifteen years. Management reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. | |
In accordance with the provisions of SFAS No. 142, “Goodwill and Other Intangible Assets,” codified into ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2014 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets. | |
Other Real Estate Owned | Other Real Estate Owned |
Other real estate owned acquired through loan foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value temporarily declines subsequent to foreclosure, a valuation allowance is recorded through noninterest expense. Operating costs associated with the assets after acquisition are also recorded as noninterest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other noninterest expense. | |
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock |
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula. | |
Income Taxes | Income Taxes |
The Company and its subsidiaries file consolidated federal and state income tax returns with each organization computing its taxes on a separate company basis. Amounts provided for income tax expense are based on income reported for financial statement purposes rather than amounts currently payable under tax laws. | |
Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences existing between the financial statement carrying amounts of assets and liabilities and their respective tax basis, as well as operating loss and tax credit carry forwards. To the extent that current available evidence about the future raises doubt about the realization of a deferred tax asset, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an increase or decrease in income tax expense in the period in which such change is enacted. | |
Additionally, the Company reviews its uncertain tax positions annually under FASB Interpretation No. 48 (FIN No. 48), “Accounting for Uncertainty in Income Taxes,” codified within ASC 740. An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount actually recognized is the largest amount of tax benefit that is greater than 50% likely to be recognized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. A significant amount of judgment is applied to determine both whether the tax position meets the "more likely than not" test as well as to determine the largest amount of tax benefit that is greater than 50% likely to be recognized. Differences between the position taken by management and that of taxing authorities could result in a reduction of a tax benefit or increase to tax liability, which could adversely affect future income tax expense. | |
Trust Department Assets | Trust Department Assets |
Assets held in fiduciary or agency capacities are not included in the consolidated balance sheets since such items are not assets of the Company or its subsidiaries. Fees from trust activities are recorded on a cash basis over the period in which the service is provided. Fees are a function of the market value of assets managed and administered, the volume of transactions, and fees for other services rendered, as set forth in the underlying client agreement with the Trust & Wealth Management Division of First Mid Bank. This revenue recognition involves the use of estimates and assumptions, including components that are calculated based on asset valuations and transaction volumes. Any out of pocket expenses or services not typically covered by the fee schedule for trust activities are charged directly to the trust account on a gross basis as trust revenue is incurred. | |
Convertible Preferred Stock | Convertible Preferred Stock |
Series B Convertible Preferred Stock. During 2009, the Company sold to certain accredited investors including directors, executive officers, and certain major customers and holders of the Company’s common stock, $24,635,000, in the aggregate, of a newly authorized series of its preferred stock designated as Series B 9% Non-Cumulative Perpetual Convertible Preferred Stock (the “Series B Preferred Stock”). The Series B Preferred Stock had an issue price of $5,000 per share and no par value per share. The Series B Preferred Stock was issued in a private placement exempt from registration pursuant to Regulation D of the Securities Act of 1933, as amended. | |
The Series B Preferred Stock pays non-cumulative dividends semiannually in arrears, when, as and if authorized by the Board of Directors of the Company, at a rate of 9% per year. Holders of the Series B Preferred Stock will have no voting rights, except with respect to certain fundamental changes in the terms of the Series B Preferred Stock and certain other matters. In addition, if dividends on the Series B Preferred Stock are not paid in full for four dividend periods, whether consecutive or not, the holders of the Series B Preferred Stock, acting as a class with any other of the Company’s securities having similar voting rights, will have the right to elect two directors to the Company’s Board of Directors. The terms of office of these directors will end when the Company has paid or set aside for payment full semi-annual dividends for four consecutive dividend periods. | |
Each share of the Series B Preferred Stock may be converted at any time at the option of the holder into shares of the Company’s common stock. The number of shares of common stock into which each share of the Series B Preferred Stock is convertible is the $5,000 liquidation preference per share divided by the Conversion Price initially set at $21.94. The Conversion Price is subject to adjustment from time to time pursuant to the terms of the Certificate of Designation (the “Series B Certificate of Designation”). If at the time of conversion, there are any authorized, declared and unpaid dividends with respect to a converted share of Series B Preferred Stock, the holder will receive cash in lieu of the dividends, and a holder will receive cash in lieu of fractional shares of common stock following conversion. | |
After November 16, 2014, the Company may, at its option but subject to the Company’s receipt of any required prior approvals from the Board of Governors of the Federal Reserve System or any other regulatory authority, redeem the Series B Preferred Stock. Any redemption will be in exchange for cash in the amount of $5,000 per share, plus any authorized, declared and unpaid dividends, without accumulation of any undeclared dividends. | |
The Company also has the right at any time on or after November 16, 2014 to require the conversion of all (but not less than all) of the Series B Preferred Stock into shares of common stock if, on the date notice of mandatory conversion is given to holders, the book value of the Company’s common stock equals or exceeds 115% of the book value of the Company’s common stock at September 30, 2008. “Book value of the Company’s common stock” at any date means the result of dividing the Company’s total common stockholders’ equity at that date, determined in accordance with U.S. generally accepted accounting principles, by the number of shares of common stock then outstanding, net of any shares held in the treasury. The book value of the Company’s common stock at September 30, 2008 was $13.03, and 115% of this amount is approximately $14.98. The book value of the Company’s common stock at December 31, 2014 was $19.55. | |
Pursuant to Section 3(j) of the Series B Certification of Designation, the conversion price for the Series B Preferred Stock, which was initially set at $21.94, was required to be adjusted if, among other things, the initial conversion price of any subsequently issued series of preferred stock was lower than the then current conversion price of the Series B Preferred Stock. As a result of the Series C Preferred Stock (see below) having an initial conversion price of less than $21.94, the conversion price of the Series B Preferred Stock was adjusted pursuant to the terms of the Series B Certificate of Designation based on the amount of Series C Preferred Stock sold on February 11, 2011, March 2, 2011, May 13, 2011 and June 28, 2012. The current conversion price of the Series B Preferred Stock, certified by the Company’s accountant pursuant to Section 3(j) of the Series B Certificate of Designation, is $21.62. | |
On September 23, 2014, the Board of Directors of the Company approved the mandatory conversion of all of the Company's issued and outstanding 4,926 shares of Series B Preferred Stock into shares of the Company’s common stock. On September 24, 2014, notices were sent to the shareholders of the Series B Preferred Stock regarding the mandatory conversion. On November 17, 2014, the Company completed the mandatory conversion. The conversion ratio for each share of the Series B Preferred Stock was computed by dividing $5,000 (the issuance price per share of the Series B Preferred Stock) by $21.62. (the then current conversion price). The conversion ratio, therefore, was 231.267 shares of the Company's common stock for each share of Series B Preferred Stock. This resulted in the issuance of approximately 1,139,195 shares of common stock in the aggregate. As a result of the conversion, dividends ceased to accrue on the Series B Preferred Stock and certificates for shares of Series B Preferred Stock only represent the right to receive the appropriate number of shares of common stock, together with net accrued but unpaid dividends, and cash in lieu of fractional share interests. | |
Series C Convertible Preferred Stock. On February 11, 2011, the Company accepted from certain accredited investors, including directors, executive officers, and certain major customers and holders of the Company’s common stock (collectively, the “Investors”), subscriptions for the purchase of $27,500,000, in the aggregate, of a newly authorized series of preferred stock designated as Series C 8% Non-Cumulative Perpetual Convertible Preferred Stock (the “Series C Preferred Stock”). As of February 11, 2011, $11,010,000 of the Series C Preferred Stock had been issued and sold by the Company to certain Investors. On March 2, 2011, three investors subsequently completed the required bank regulatory process and an additional $2,750,000 of Series C Preferred Stock was issued and sold by the Company to these investors. On May 13, 2011, four additional investors received the required bank regulatory approval and an additional $5,490,000 of Series C Preferred Stock was issued and sold by the Company to these investors. On June 28, 2012, the final $8,250,000 of the Company’s Series C Preferred Stock was issued and sold by the Company to Investors following their receipt of the required bank regulatory approval, for a total of $27,500,000 of outstanding Series C Preferred Stock. All of the Series C Preferred Stock subscribed for by investors has been issued. | |
The Series C Preferred Stock has an issue price of $5,000 per share and no par value per share. The Series C Preferred Stock was issued in a private placement exempt from registration pursuant to Regulation D of the Securities Act of 1933, as amended. | |
The Series C Preferred Stock pays non-cumulative dividends semiannually in arrears, when, as and if authorized by the Board of Directors of the Company, at a rate of 8% per year. Holders of the Series C Preferred Stock will have no voting rights, except with respect to certain fundamental changes in the terms of the Series C Preferred Stock and certain other matters. In addition, if dividends on the Series C Preferred Stock are not paid in full for four dividend periods, whether consecutive or not, the holders of the Series C Preferred Stock, acting as a class with any other of the Company’s securities having similar voting rights, including the Company’s Series B Preferred Stock, will have the right to elect two directors to the Company’s Board of Directors. The terms of office of these directors will end when the Company has paid or set aside for payment full semi-annual dividends for four consecutive dividend periods. | |
Each share of the Series C Preferred Stock may be converted at any time at the option of the holder into shares of the Company’s common stock. The number of shares of common stock into which each share of the Series C Preferred Stock is convertible is the $5,000 liquidation preference per share divided by the Conversion Price of $20.29. The Conversion Price is subject to adjustment from time to time pursuant to the terms of the Series C Certificate of Designation. If at the time of conversion, there are any authorized, declared and unpaid dividends with respect to a converted share of Series C Preferred Stock, the holder will receive cash in lieu of the dividends, and a holder will receive cash in lieu of fractional shares of common stock following conversion. | |
After May 13, 2016 the Company may, at its option but subject to the Company’s receipt of any required prior approvals from the Board of Governors of the Federal Reserve System or any other regulatory authority, redeem the Series C Preferred Stock. Any redemption will be in exchange for cash in the amount of $5,000 per share, plus any authorized, declared and unpaid dividends, without accumulation of any undeclared dividends. | |
The Company also has the right at any time after May 13, 2016 to require the conversion of all (but not less than all) of the Series C Preferred Stock into shares of common stock if, on the date notice of mandatory conversion is given to holders, (a) the tangible book value per share of the Company’s common stock equals or exceeds 115% of the tangible book value per share of the Company’s common stock at December 31, 2010, and (b) the NASDAQ Bank Index (denoted by CBNK:IND) equals or exceeds 115% of the NASDAQ Bank Index at December 31, 2010. “Tangible book value per share of our common stock” at any date means the result of dividing the Company’s total common stockholders equity at that date, less the amount of goodwill and intangible assets, determined in accordance with U.S. generally accepted accounting principles, by the number of shares of common stock then outstanding, net of any shares held in the treasury. The tangible book value of the Company’s common stock at December 31, 2010 was $9.38, and 115% of this amount is approximately $10.79. The NASDAQ Bank Index value at December 31, 2010 was 1,847.35 and 115% of this amount is approximately 2,124.45. The tangible book value of the Company’s common stock at December 31, 2014 was $15.63 and the NASDAQ Bank Index value at December 31, 2014 was 2,675.88. | |
Treasury Stock | Treasury Stock |
Stock Incentive Awards | Stock Incentive Awards |
At the Annual Meeting of Stockholders held May 23, 2007, the stockholders approved the First Mid-Illinois Bancshares, Inc. 2007 Stock Incentive Plan (“SI Plan”). The SI Plan was implemented to succeed the Company’s 1997 Stock Incentive Plan, which had a ten-year term that expired October 21, 2007. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its subsidiaries may sustain a sense of proprietorship and personal involvement in the continued development and financial success of the Company and its subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of common stock of the Company on the terms and conditions established in the SI Plan. On September 27, 2011, the Board of Directors passed a resolution relating to the SI Plan whereby they authorized and approved the Executive Long-Term Incentive Plan (“LTIP”). The LTIP was implemented to provide methodology for granting Stock Awards and Stock Unit Awards to select senior executives of the Company or any Subsidiary. | |
A maximum of 300,000 shares of common stock may be issued under the SI Plan. Prior to December 31, 2008, the Company had awarded 59,500 shares as stock options under the SI plan. There have been no stock options awarded since 2008. The Company awarded 19,377 shares, 14,054 shares and 15,162 shares during 2014, 2013 and 2012, respectively, as 50% Stock Awards and 50% Stock Unit Awards under the SI plan. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The components of accumulated other comprehensive income included in stockholders’ equity as of December 31, 2014 and 2013 are as follows (in thousands): | |||||||||||||
Unrealized Gain (Loss) on | Securities with Other-Than-Temporary Impairment Losses | Total | ||||||||||||
Available for Sale Securities | ||||||||||||||
December 31, 2014 | ||||||||||||||
Net unrealized gains on securities available-for-sale | $ | 2,829 | $ | — | $ | 2,829 | ||||||||
Unamortized losses on securities held-to-maturity transferred from available-for-sale | (1,328 | ) | — | (1,328 | ) | |||||||||
Securities with other-than-temporary impairment losses | — | (2,936 | ) | (2,936 | ) | |||||||||
Tax benefit (expense) | (586 | ) | 1,146 | 560 | ||||||||||
Balance at December 31, 2014 | $ | 915 | $ | (1,790 | ) | $ | (875 | ) | ||||||
December 31, 2013 | ||||||||||||||
Net unrealized losses on securities available-for-sale | $ | (10,272 | ) | $ | — | $ | (10,272 | ) | ||||||
Securities with other-than-temporary impairment losses | — | (3,461 | ) | (3,461 | ) | |||||||||
Tax benefit | 4,004 | 1,349 | 5,353 | |||||||||||
Balance at December 31, 2013 | $ | (6,268 | ) | $ | (2,112 | ) | $ | (8,380 | ) | |||||
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income [Table Text Block] | Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the years ended December 31, 2014, 2013 and 2012 , were as follows: | |||||||||||||
Amounts Reclassified from Other Comprehensive Income | Affected Line Item in the Statements of Income | |||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Unrealized gains on available-for-sale securities | $ | 715 | 2,293 | 934 | Securities gains, net (Total reclassified amount before tax) | |||||||||
(279 | ) | (894 | ) | (364 | ) | Tax expense | ||||||||
Total reclassifications out of accumulated other comprehensive income | $ | 436 | $ | 1,399 | $ | 570 | Net reclassified amount | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Components of Basic and Diluted Net Income per Common Share | The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2014, 2013 and 2012 were as follows: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic Net Income per Common Share | |||||||||||||
Available to Common Stockholders: | |||||||||||||
Net income | $ | 15,461,000 | $ | 14,722,000 | $ | 14,025,000 | |||||||
Preferred stock dividends | (4,152,000 | ) | (4,417,000 | ) | (4,252,000 | ) | |||||||
Net income available to common stockholders | 11,309,000 | 10,305,000 | 9,773,000 | ||||||||||
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||||
Basic earnings per common share | $ | 1.88 | $ | 1.74 | $ | 1.62 | |||||||
Diluted Net Income per Common Share | |||||||||||||
Available to Common Stockholders: | |||||||||||||
Net income available to common stockholders | $ | 11,309,000 | $ | 10,305,000 | $ | 9,773,000 | |||||||
Effect of assumed preferred stock conversion | 4,152,000 | — | — | ||||||||||
Net income applicable to diluted earnings per share | 15,461,000 | 10,305,000 | 9,773,000 | ||||||||||
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||||
Dilutive potential common shares: | |||||||||||||
Assumed conversion of stock options | — | 2,090 | 4,473 | ||||||||||
Restricted stock awarded | 11,725 | 8,184 | 116 | ||||||||||
Assumed conversion of preferred stock | 2,357,196 | — | — | ||||||||||
Dilutive potential common shares | 2,368,921 | 10,274 | 4,589 | ||||||||||
Diluted weighted average common shares outstanding | 8,371,687 | 5,944,902 | 6,027,878 | ||||||||||
Diluted earnings per common share | $ | 1.85 | $ | 1.73 | $ | 1.62 | |||||||
Anti-dilutive Securities | The following shares were not considered in computing diluted earnings per share for the years ended December 31, 2014, 2013 and 2012 because they were anti-dilutive: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Stock options to purchase shares of common stock | 52,000 | 130,500 | 108,125 | ||||||||||
Average dilutive potential common shares associated with convertible preferred stock | — | 2,494,801 | 2,290,110 | ||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Available For Sale And Held For Maturity Securities [Table Text Block] | The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at December 31, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||
December 31, 2014 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Fair Value | ||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 101,224 | $ | 91 | $ | (1,358 | ) | $ | 99,957 | |||||||||||||||
Obligations of states and political subdivisions | 75,589 | 2,608 | (113 | ) | 78,084 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 193,814 | 2,548 | (961 | ) | 195,401 | |||||||||||||||||||
Trust preferred securities | 3,300 | — | (2,936 | ) | 364 | |||||||||||||||||||
Other securities | 4,036 | 26 | (12 | ) | 4,050 | |||||||||||||||||||
Total available-for-sale | $ | 377,963 | $ | 5,273 | $ | (5,380 | ) | $ | 377,856 | |||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 53,650 | $ | 299 | $ | (12 | ) | $ | 53,937 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | $ | 197,805 | $ | 137 | $ | (7,574 | ) | $ | 190,368 | |||||||||||||||
Obligations of states and political subdivisions | 65,304 | 1,031 | (1,773 | ) | 64,562 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 229,661 | 2,215 | (4,275 | ) | 227,601 | |||||||||||||||||||
Trust preferred securities | 3,652 | — | (3,461 | ) | 191 | |||||||||||||||||||
Other securities | 6,035 | 34 | (67 | ) | 6,002 | |||||||||||||||||||
Total available-for-sale | $ | 502,457 | $ | 3,417 | $ | (17,150 | ) | $ | 488,724 | |||||||||||||||
During the third quarter of 2014, management evaluated its available-for-sale portfolio and transferred obligations of U.S. government corporations & agencies securities with a fair value of $53.6 million from available-for-sale to held-to-maturity to reduce price volatility. Management determined it has both the intent and ability to hold these securities to maturity. Transfers of investment securities into the held-to-maturity category from available-for-sale are made at fair value on the date of transfer. There were no gains or losses recognized as a result of this transfer. The related $1.4 million of unrealized holding loss that was included in the transfer is retained in the carrying value of the held-to-maturity securities and in other comprehensive income net of deferred taxes. These amounts are being amortized into net interest income over the remaining life of the related securities as a yield adjustment, resulting in no impact on future net income. | ||||||||||||||||||||||||
Trust preferred securities at December 31, 2014, is one trust preferred pooled security issued by First Tennessee Financial (“FTN”). The unrealized loss of this security, which has a maturity of twenty-three years, is primarily due to its long-term nature, a lack of demand or inactive market for the security, and concerns regarding the underlying financial institutions that have issued the trust preferred security. See the heading “Trust Preferred Securities” below for further information regarding this security. | ||||||||||||||||||||||||
Realized Gains and Losses From Sale of Securities | Proceeds from sales of investment securities, realized gains and losses and income tax expense and benefit were as follows during the years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sales | $ | 75,618 | $ | 69,665 | $ | 30,500 | ||||||||||||||||||
Gross gains | 1,452 | 2,454 | 934 | |||||||||||||||||||||
Gross losses | 737 | 161 | — | |||||||||||||||||||||
Income tax expense | 279 | 894 | 364 | |||||||||||||||||||||
Investments Classified by Contractual Maturity Date | The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost at December 31, 2014 and the weighted average yield for each range of maturities (dollars in thousands): | |||||||||||||||||||||||
One year or less | After 1 through 5 years | After 5 through 10 years | After ten years | Total | ||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 68,602 | $ | 31,355 | $ | — | $ | — | $ | 99,957 | ||||||||||||||
Obligations of state and political subdivisions | 5,455 | 35,016 | 37,613 | — | 78,084 | |||||||||||||||||||
Mortgage-backed securities: GSE residential | 3,771 | 147,438 | 44,192 | — | 195,401 | |||||||||||||||||||
Trust preferred securities | — | — | — | 364 | 364 | |||||||||||||||||||
Other securities | — | — | 3,995 | 55 | 4,050 | |||||||||||||||||||
Total investments | $ | 77,828 | $ | 213,809 | $ | 85,800 | $ | 419 | $ | 377,856 | ||||||||||||||
Weighted average yield | 1.78 | % | 2.43 | % | 2.73 | % | 1.13 | % | 2.35 | % | ||||||||||||||
Full tax-equivalent yield | 1.99 | % | 2.85 | % | 3.79 | % | 1.13 | % | 2.86 | % | ||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 43,925 | $ | — | $ | 9,725 | $ | — | $ | 53,650 | ||||||||||||||
Weighted average yield | 2.13 | % | — | % | 2.28 | % | — | % | 2.22 | % | ||||||||||||||
Full tax-equivalent yield | 2.13 | % | — | % | 2.28 | % | — | % | 2.22 | % | ||||||||||||||
The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 35% tax rate. With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at December 31, 2014. | ||||||||||||||||||||||||
Fair value of investments with sustained gross unrealized losses | The following table presents the aging of gross unrealized losses and fair value by investment category as of December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 7,289 | $ | (46 | ) | $ | 75,030 | $ | (1,312 | ) | $ | 82,319 | $ | (1,358 | ) | |||||||||
Obligations of states and political subdivisions | 3,586 | (19 | ) | 4,416 | (94 | ) | 8,002 | (113 | ) | |||||||||||||||
Mortgage-backed securities: GSE residential | 19,565 | (159 | ) | 37,224 | (802 | ) | 56,789 | (961 | ) | |||||||||||||||
Trust preferred securities | — | — | 364 | (2,936 | ) | 364 | (2,936 | ) | ||||||||||||||||
Other securities | — | — | 1,988 | (12 | ) | 1,988 | (12 | ) | ||||||||||||||||
Total | $ | 30,440 | $ | (224 | ) | $ | 119,022 | $ | (5,156 | ) | $ | 149,462 | $ | (5,380 | ) | |||||||||
Held-to-maturity: | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 4,853 | $ | (12 | ) | $ | — | $ | — | $ | 4,853 | $ | (12 | ) | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 183,074 | $ | (7,574 | ) | $ | — | $ | — | $ | 183,074 | $ | (7,574 | ) | ||||||||||
Obligations of states and political subdivisions | 29,986 | (1,708 | ) | 808 | (65 | ) | 30,794 | (1,773 | ) | |||||||||||||||
Mortgage-backed securities: GSE residential | 131,125 | (4,275 | ) | 13 | — | 131,138 | (4,275 | ) | ||||||||||||||||
Trust preferred securities | — | — | 191 | (3,461 | ) | 191 | (3,461 | ) | ||||||||||||||||
Other securities | 3,933 | (67 | ) | — | — | 3,933 | (67 | ) | ||||||||||||||||
Total | $ | 348,118 | $ | (13,624 | ) | $ | 1,012 | $ | (3,526 | ) | $ | 349,130 | $ | (17,150 | ) | |||||||||
Trust Preferred Securities [Table Text Block] | Following are the details for the impaired trust preferred security remaining as of December 31, 2014 (in thousands): | |||||||||||||||||||||||
Book | Market Value | Unrealized Gains (Losses) | Other-than- | |||||||||||||||||||||
Value | temporary | |||||||||||||||||||||||
Impairment | ||||||||||||||||||||||||
Recorded To-date | ||||||||||||||||||||||||
PreTSL XXVIII | $ | 3,300 | $ | 364 | $ | (2,936 | ) | $ | (1,111 | ) | ||||||||||||||
Credit Losses Recognized on Investments | As described above, some of the Company’s investments in trust preferred securities have experienced fair value deterioration due to credit losses but are not otherwise other-than-temporarily impaired. The following table provides information about those trust preferred securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||||||||||||||
Accumulated Credit Losses as of December 31: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Credit losses on trust preferred securities held: | ||||||||||||||||||||||||
Beginning of period | $ | 1,111 | $ | 3,989 | $ | 4,116 | ||||||||||||||||||
Additions related to OTTI losses not previously recognized | — | — | — | |||||||||||||||||||||
Reductions due to sales / (recoveries) | — | (2,878 | ) | (127 | ) | |||||||||||||||||||
Reductions due to change in intent or likelihood of sale | — | — | — | |||||||||||||||||||||
Additions related to increases in previously recognized OTTI losses | — | — | — | |||||||||||||||||||||
Reductions due to increases in expected cash flows | — | — | — | |||||||||||||||||||||
End of period | $ | 1,111 | $ | 1,111 | $ | 3,989 | ||||||||||||||||||
Maturities of Investment Securities | Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair Value | |||||||||||||||||||||||
Available-for-sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 75,041 | $ | 74,057 | ||||||||||||||||||||
Due after one-five years | 65,428 | 66,371 | ||||||||||||||||||||||
Due after five-ten years | 40,345 | 41,608 | ||||||||||||||||||||||
Due after ten years | 3,335 | 419 | ||||||||||||||||||||||
184,149 | 182,455 | |||||||||||||||||||||||
Mortgage-backed securities: GSE residential | 193,814 | 195,401 | ||||||||||||||||||||||
Total available-for-sale | 377,963 | 377,856 | ||||||||||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
Due in one year or less | 43,925 | 44,169 | ||||||||||||||||||||||
Due after one-five years | — | — | ||||||||||||||||||||||
Due after five-ten years | 9,725 | 9,768 | ||||||||||||||||||||||
Due after ten years | — | — | ||||||||||||||||||||||
Total held-to-maturity | 53,650 | $ | 53,937 | |||||||||||||||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Summary of Loans | Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at December 31, 2014 and 2013 follows (in thousands): | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Construction and land development | $ | 21,627 | $ | 25,321 | ||||||||||||||||||||||||||||
Farm loans | 110,158 | 109,376 | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 179,886 | 184,158 | ||||||||||||||||||||||||||||||
Multifamily residential properties | 53,129 | 50,174 | ||||||||||||||||||||||||||||||
Commercial real estate | 380,173 | 357,726 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 744,973 | 726,755 | ||||||||||||||||||||||||||||||
Agricultural loans | 68,225 | 64,055 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 223,633 | 168,227 | ||||||||||||||||||||||||||||||
Consumer loans | 15,118 | 14,579 | ||||||||||||||||||||||||||||||
All other loans | 8,736 | 9,094 | ||||||||||||||||||||||||||||||
Gross loans | 1,060,685 | 982,710 | ||||||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||
Net deferred loan fees, premiums and discounts | 237 | 420 | ||||||||||||||||||||||||||||||
Allowance for loan losses | 13,682 | 13,249 | ||||||||||||||||||||||||||||||
Net loans | $ | 1,046,766 | $ | 969,041 | ||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||||||
Commercial/ Commercial Real Estate | Agricultural/ Agricultural Real Estate | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 10,646 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 13,249 | ||||||||||||||||||||
Provision charged to expense | 192 | 825 | 135 | 167 | (690 | ) | 629 | |||||||||||||||||||||||||
Losses charged off | (86 | ) | — | (140 | ) | (311 | ) | — | (537 | ) | ||||||||||||||||||||||
Recoveries | 162 | 2 | 24 | 153 | — | 341 | ||||||||||||||||||||||||||
Balance, end of period | $ | 10,914 | $ | 1,360 | $ | 790 | $ | 386 | $ | 232 | $ | 13,682 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 263 | $ | — | $ | — | $ | — | $ | — | $ | 263 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 10,651 | $ | 1,360 | $ | 790 | $ | 386 | $ | 232 | $ | 13,419 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 684,552 | $ | 178,091 | $ | 184,661 | $ | 15,102 | $ | — | $ | 1,062,406 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,301 | $ | — | $ | — | $ | — | $ | — | $ | 3,301 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 681,251 | $ | 178,091 | $ | 184,661 | $ | 15,102 | $ | — | $ | 1,059,105 | ||||||||||||||||||||
Commercial/ Commercial Real Estate | Agricultural/ Agricultural Real Estate | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 9,301 | $ | 558 | $ | 726 | $ | 403 | $ | 788 | $ | 11,776 | ||||||||||||||||||||
Provision charged to expense | 1,861 | (30 | ) | 171 | 57 | 134 | 2,193 | |||||||||||||||||||||||||
Losses charged off | (764 | ) | — | (141 | ) | (223 | ) | — | (1,128 | ) | ||||||||||||||||||||||
Recoveries | 248 | 5 | 15 | 140 | — | 408 | ||||||||||||||||||||||||||
Balance, end of period | $ | 10,646 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 13,249 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 604 | $ | — | $ | — | $ | — | $ | — | $ | 604 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 10,042 | $ | 533 | $ | 771 | $ | 377 | $ | 922 | $ | 12,645 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 607,062 | $ | 172,979 | $ | 187,796 | $ | 14,967 | $ | — | $ | 982,804 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,145 | $ | — | $ | — | $ | — | $ | — | $ | 5,145 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 601,917 | $ | 172,979 | $ | 187,796 | $ | 14,967 | $ | — | $ | 977,659 | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 8,791 | $ | 546 | $ | 636 | $ | 378 | $ | 769 | $ | 11,120 | ||||||||||||||||||||
Provision charged to expense | 1,979 | (47 | ) | 580 | 116 | 19 | 2,647 | |||||||||||||||||||||||||
Losses charged off | (1,586 | ) | (12 | ) | (524 | ) | (249 | ) | — | (2,371 | ) | |||||||||||||||||||||
Recoveries | 117 | 71 | 34 | 158 | — | 380 | ||||||||||||||||||||||||||
Balance, end of year | $ | 9,301 | $ | 558 | $ | 726 | $ | 403 | $ | 788 | $ | 11,776 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 457 | $ | 54 | $ | — | $ | — | $ | — | $ | 511 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 8,844 | $ | 504 | $ | 726 | $ | 403 | $ | 788 | $ | 11,265 | ||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 569,717 | $ | 145,695 | $ | 179,309 | $ | 16,066 | $ | 278 | $ | 911,065 | ||||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,334 | $ | 1,230 | $ | — | $ | — | $ | — | $ | 6,564 | ||||||||||||||||||||
Collectively evaluated for impairment | $ | 564,383 | $ | 144,465 | $ | 179,309 | $ | 16,066 | $ | 278 | $ | 904,501 | ||||||||||||||||||||
Credit Risk Profile of the Company's Loan Portfolio | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||
Construction & | Farm Loans | 1-4 Family Residential | Multifamily Residential | |||||||||||||||||||||||||||||
Land Development | Properties | Properties | ||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Pass | $ | 20,842 | $ | 23,839 | $ | 107,976 | $ | 108,262 | $ | 177,764 | $ | 182,593 | $ | 52,793 | $ | 50,174 | ||||||||||||||||
Watch | — | — | 1,036 | 231 | 1,187 | 637 | — | — | ||||||||||||||||||||||||
Substandard | 785 | 1,482 | 1,181 | 912 | 2,970 | 1,531 | 336 | — | ||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 21,627 | $ | 25,321 | $ | 110,193 | $ | 109,405 | $ | 181,921 | $ | 184,761 | $ | 53,129 | $ | 50,174 | ||||||||||||||||
Commercial Real Estate (Nonfarm/Nonresidential) | Agricultural Loans | Commercial & Industrial Loans | Consumer Loans | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Pass | $ | 357,873 | $ | 335,284 | $ | 67,619 | $ | 62,439 | $ | 218,193 | $ | 158,107 | $ | 15,105 | $ | 14,558 | ||||||||||||||||
Watch | 18,817 | 17,998 | — | 193 | 4,647 | 3,515 | 9 | — | ||||||||||||||||||||||||
Substandard | 2,914 | 3,717 | 679 | 1,496 | 940 | 6,731 | 4 | 21 | ||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 379,604 | $ | 356,999 | $ | 68,298 | $ | 64,128 | $ | 223,780 | $ | 168,353 | $ | 15,118 | $ | 14,579 | ||||||||||||||||
All Other Loans | Total Loans | |||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
Pass | $ | 8,736 | $ | 9,084 | $ | 1,026,901 | $ | 944,340 | ||||||||||||||||||||||||
Watch | — | — | 25,696 | 22,574 | ||||||||||||||||||||||||||||
Substandard | — | — | 9,809 | 15,890 | ||||||||||||||||||||||||||||
Doubtful | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 8,736 | $ | 9,084 | $ | 1,062,406 | $ | 982,804 | ||||||||||||||||||||||||
Loan Portfolio Aging Analysis | The following table presents the Company’s loan portfolio aging analysis at December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||
30-59 days Past Due | 60-89 days Past Due | 90 Days | Total | Current | Total Loans Receivable | Total Loans > 90 days & Accruing | ||||||||||||||||||||||||||
or More Past Due | Past Due | |||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 297 | $ | 25 | $ | — | $ | 322 | $ | 21,305 | $ | 21,627 | $ | — | ||||||||||||||||||
Farm loans | — | — | — | — | 110,193 | 110,193 | — | |||||||||||||||||||||||||
1-4 Family residential properties | 201 | 224 | 385 | 810 | 181,111 | 181,921 | — | |||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | 53,129 | 53,129 | — | |||||||||||||||||||||||||
Commercial real estate | 60 | 32 | 945 | 1,037 | 378,567 | 379,604 | — | |||||||||||||||||||||||||
Loans secured by real estate | 558 | 281 | 1,330 | 2,169 | 744,305 | 746,474 | — | |||||||||||||||||||||||||
Agricultural loans | 16 | 20 | — | 36 | 68,262 | 68,298 | — | |||||||||||||||||||||||||
Commercial and industrial loans | 228 | 10 | 98 | 336 | 223,444 | 223,780 | — | |||||||||||||||||||||||||
Consumer loans | 331 | 10 | 5 | 346 | 14,772 | 15,118 | — | |||||||||||||||||||||||||
All other loans | — | — | — | — | 8,736 | 8,736 | — | |||||||||||||||||||||||||
Total loans | $ | 1,133 | $ | 321 | $ | 1,433 | $ | 2,887 | $ | 1,059,519 | $ | 1,062,406 | $ | — | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Construction and land development | $ | — | $ | — | $ | — | $ | — | $ | 25,321 | $ | 25,321 | $ | — | ||||||||||||||||||
Farm loans | 299 | — | — | 299 | 109,106 | 109,405 | — | |||||||||||||||||||||||||
1-4 Family residential properties | 326 | 146 | 371 | 843 | 183,918 | 184,761 | — | |||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | 50,174 | 50,174 | — | |||||||||||||||||||||||||
Commercial real estate | 568 | 1,030 | 145 | 1,743 | 355,256 | 356,999 | — | |||||||||||||||||||||||||
Loans secured by real estate | 1,193 | 1,176 | 516 | 2,885 | 723,775 | 726,660 | — | |||||||||||||||||||||||||
Agricultural loans | 122 | 49 | — | 171 | 63,957 | 64,128 | — | |||||||||||||||||||||||||
Commercial and industrial loans | 113 | 88 | 62 | 263 | 168,090 | 168,353 | — | |||||||||||||||||||||||||
Consumer loans | 83 | 25 | 4 | 112 | 14,467 | 14,579 | — | |||||||||||||||||||||||||
All other loans | — | — | — | — | 9,084 | 9,084 | — | |||||||||||||||||||||||||
Total loans | $ | 1,511 | $ | 1,338 | $ | 582 | $ | 3,431 | $ | 979,373 | $ | 982,804 | $ | — | ||||||||||||||||||
Impaired Loans | The following tables present impaired loans as of December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance | Specific Allowance | Recorded | Unpaid Principal Balance | Specific Allowance | |||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||
Loans with a specific allowance: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 2,960 | $ | 43 | $ | 614 | $ | 614 | $ | 76 | ||||||||||||||||||||
Farm loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 67 | 134 | — | — | — | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 472 | 986 | 136 | 1,096 | 1,096 | 301 | ||||||||||||||||||||||||||
Loans secured by real estate | 1,324 | 4,080 | 179 | 1,710 | 1,710 | 377 | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 83 | 181 | 84 | 275 | 275 | 227 | ||||||||||||||||||||||||||
Consumer loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 1,407 | $ | 4,261 | $ | 263 | $ | 1,985 | $ | 1,985 | $ | 604 | ||||||||||||||||||||
Loans without a specific allowance: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | — | $ | — | $ | — | $ | 869 | $ | 1,727 | $ | — | ||||||||||||||||||||
Farm loans | 73 | 235 | — | 105 | 113 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,156 | 2,866 | — | 1,110 | 1,558 | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 1,640 | 3,808 | — | 1,750 | 1,778 | — | ||||||||||||||||||||||||||
Loans secured by real estate | 2,869 | 6,909 | — | 3,834 | 5,176 | — | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 249 | 933 | — | 613 | 946 | — | ||||||||||||||||||||||||||
Consumer loans | 15 | 60 | — | 37 | 51 | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 3,133 | $ | 7,902 | $ | — | $ | 4,484 | $ | 6,173 | $ | — | ||||||||||||||||||||
Total loans: | ||||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 2,960 | $ | 43 | $ | 1,483 | $ | 2,341 | $ | 76 | ||||||||||||||||||||
Farm loans | 73 | 235 | — | 105 | 113 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,223 | 3,000 | — | 1,110 | 1,558 | — | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 2,112 | 4,794 | 136 | 2,846 | 2,874 | 301 | ||||||||||||||||||||||||||
Loans secured by real estate | 4,193 | 10,989 | 179 | 5,544 | 6,886 | 377 | ||||||||||||||||||||||||||
Agricultural loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 332 | 1,114 | 84 | 888 | 1,221 | 227 | ||||||||||||||||||||||||||
Consumer loans | 15 | 60 | — | 37 | 51 | — | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 4,540 | $ | 12,163 | $ | 263 | $ | 6,469 | $ | 8,158 | $ | 604 | ||||||||||||||||||||
Impaired loans by portfolio class | The following tables present average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||||||||
in Impaired Loans | in Impaired Loans | in Impaired Loans | ||||||||||||||||||||||||||||||
Construction and land development | $ | 933 | $ | — | $ | 1,565 | $ | — | $ | 1,520 | $ | — | ||||||||||||||||||||
Farm loans | 78 | 2 | 107 | — | 421 | — | ||||||||||||||||||||||||||
1-4 Family residential properties | 1,276 | 12 | 1,248 | 5 | 1,948 | 7 | ||||||||||||||||||||||||||
Multifamily residential properties | — | — | — | — | — | — | ||||||||||||||||||||||||||
Commercial real estate | 2,205 | 2 | 2,895 | 3 | 2,100 | — | ||||||||||||||||||||||||||
Loans secured by real estate | 4,492 | 16 | 5,815 | 8 | 5,989 | 7 | ||||||||||||||||||||||||||
Agricultural loans | — | — | 16 | 1 | 1,071 | — | ||||||||||||||||||||||||||
Commercial and industrial loans | 429 | — | 1,240 | 10 | 755 | — | ||||||||||||||||||||||||||
Consumer loans | 25 | 1 | 47 | 12 | 56 | 15 | ||||||||||||||||||||||||||
All other loans | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 4,946 | $ | 17 | $ | 7,118 | $ | 31 | $ | 7,871 | $ | 22 | ||||||||||||||||||||
The amount of interest income recognized by the Company within the periods stated above was due to loans modified in a troubled debt restructuring that remained on accrual status. The balance of loans modified in a troubled debt restructuring included in the impaired loans stated above that were still accruing was $345,000 of 1-4 Family residential properties, $44,000 of Farm Loans, $37,000 of commercial real estate, and $9,000 of consumer loans at December 31, 2014 and $101,000 of 1-4 Family residential properties, $39,000 of commercial real estate loans, $182,000 of commercial and industrial loans and $26,000 of consumer loans at December 31, 2013. For the years ended December 31, 2014, 2013 and 2012, the amount of interest income recognized using a cash-basis method of accounting during the period that the loans were impaired was not material. | ||||||||||||||||||||||||||||||||
Nonaccrual Loans | The following table presents the Company’s recorded balance of nonaccrual loans at December 31, 2014 and December 31, 2013 (in thousands). This table excludes purchased impaired loans and performing troubled debt restructurings. | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 1,483 | ||||||||||||||||||||||||||||
Farm loans | 29 | 105 | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 878 | 1,009 | ||||||||||||||||||||||||||||||
Multifamily residential properties | — | — | ||||||||||||||||||||||||||||||
Commercial real estate | 2,074 | 2,807 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 3,766 | 5,404 | ||||||||||||||||||||||||||||||
Agricultural loans | — | — | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 332 | 706 | ||||||||||||||||||||||||||||||
Consumer loans | 7 | 11 | ||||||||||||||||||||||||||||||
All other loans | — | — | ||||||||||||||||||||||||||||||
Total loans | $ | 4,105 | $ | 6,121 | ||||||||||||||||||||||||||||
Recorded Balance of Troubled Debt Restructurings | The following table presents the Company’s recorded balance of troubled debt restructurings at December 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||||||||||||
Troubled debt restructurings: | 2014 | 2013 | ||||||||||||||||||||||||||||||
Construction and land development | $ | 785 | $ | 1,482 | ||||||||||||||||||||||||||||
Farm Loans | 44 | — | ||||||||||||||||||||||||||||||
1-4 Family residential properties | 503 | 306 | ||||||||||||||||||||||||||||||
Commercial real estate | 1,283 | 899 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 2,615 | 2,687 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | 236 | 487 | ||||||||||||||||||||||||||||||
Consumer Loans | 9 | 26 | ||||||||||||||||||||||||||||||
Total | $ | 2,860 | $ | 3,200 | ||||||||||||||||||||||||||||
Performing troubled debt restructurings: | ||||||||||||||||||||||||||||||||
1-4 Family residential properties | $ | 345 | $ | 101 | ||||||||||||||||||||||||||||
Farm Loans | 44 | — | ||||||||||||||||||||||||||||||
Commercial real estate | 37 | 39 | ||||||||||||||||||||||||||||||
Loans secured by real estate | 426 | 140 | ||||||||||||||||||||||||||||||
Commercial and industrial loans | — | 182 | ||||||||||||||||||||||||||||||
Consumer Loans | 9 | 26 | ||||||||||||||||||||||||||||||
Total | $ | 435 | $ | 348 | ||||||||||||||||||||||||||||
Premises_and_Equipment_Net_Tab
Premises and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Premises and equipment | Premises and equipment at December 31, 2014 and 2013 consisted of: | ||||||||
2014 | 2013 | ||||||||
Land | $ | 5,966 | $ | 5,966 | |||||
Buildings and improvements | 29,617 | 28,962 | |||||||
Furniture and equipment | 15,936 | 16,601 | |||||||
Leasehold improvements | 2,646 | 3,138 | |||||||
Construction in progress | — | 62 | |||||||
Subtotal | 54,165 | 54,729 | |||||||
Accumulated depreciation and amortization | 26,813 | 26,151 | |||||||
Total | $ | 27,352 | $ | 28,578 | |||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Gross Carrying Value and Accumulated Amortization by Major Intangible Asset Class | The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of insurance agencies acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2014 and 2013: | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | ||||||||||||||
Goodwill not subject to amortization | $ | 29,513 | $ | 3,760 | $ | 29,513 | $ | 3,760 | |||||||||
Intangibles from branch acquisition | 3,015 | 3,015 | 3,015 | 3,015 | |||||||||||||
Core deposit intangibles | 8,986 | 7,142 | 8,986 | 6,499 | |||||||||||||
Customer list intangibles | 1,904 | 1,904 | 1,904 | 1,904 | |||||||||||||
$ | 43,418 | $ | 15,821 | $ | 43,418 | $ | 15,178 | ||||||||||
Amortization Expense | Total amortization expense for the years ended December 31, 2014, 2013 and 2012 was as follows: | ||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Intangibles from branch acquisitions | $ | — | $ | — | $ | 50 | |||||||||||
Core deposit intangibles | 643 | 674 | 706 | ||||||||||||||
Customer list intangibles | — | — | 17 | ||||||||||||||
$ | 643 | $ | 674 | $ | 773 | ||||||||||||
Aggregate Amortization Expense and Estimated Amortization Expense | Estimated amortization expense for each of the five succeeding years is shown in the table below: | ||||||||||||||||
For period ended 12/31/15 | $ | 616 | |||||||||||||||
For period ended 12/31/16 | 381 | ||||||||||||||||
For period ended 12/31/17 | 254 | ||||||||||||||||
For period ended 12/31/18 | 232 | ||||||||||||||||
For period ended 12/31/19 | 213 | ||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Deposits [Abstract] | |||||||||||||
Schedule of Deposits [Table Text Block] | As of December 31, 2014 and 2013, deposits consisted of the following: | ||||||||||||
2014 | 2013 | ||||||||||||
Demand deposits: | |||||||||||||
Non-interest bearing | $ | 222,116 | $ | 235,448 | |||||||||
Interest-bearing | 306,631 | 291,035 | |||||||||||
Savings | 273,958 | 279,227 | |||||||||||
Money market | 251,095 | 253,255 | |||||||||||
Time deposits | 218,277 | 228,651 | |||||||||||
Total deposits | $ | 1,272,077 | $ | 1,287,616 | |||||||||
Components of deposit interest expense [Table Text Block] | Total interest expense on deposits for the years ended December 31, 2014, 2013 and 2012 was as follows: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest-bearing demand | $ | 101 | $ | 102 | $ | 195 | |||||||
Savings | 375 | 452 | 1,186 | ||||||||||
Money market | 588 | 693 | 1,248 | ||||||||||
Time deposits | 1,287 | 1,456 | 2,214 | ||||||||||
Total | $ | 2,351 | $ | 2,703 | $ | 4,843 | |||||||
Aggregate Time Deposits more than 100,000 and related interest expense [Table Text Block] | As of December 31, 2014, 2013 and 2012, the aggregate amount of time deposits in denominations of more than $100,000 and the total interest expense on such deposits was as follows: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Outstanding | $ | 98,445 | $ | 96,715 | $ | 62,563 | |||||||
Interest expense for the year | 598 | 546 | 826 | ||||||||||
Maturities of Time Deposits [Table Text Block] | The following table shows the amount of maturities for all time deposits as of December 31, 2014: | ||||||||||||
Less than 1 year | $ | 152,490 | |||||||||||
1 year to 2 years | 33,173 | ||||||||||||
2 years to 3 years | 13,962 | ||||||||||||
3 years to 4 years | 10,812 | ||||||||||||
4 years to 5 years | 7,694 | ||||||||||||
Over 5 years | 146 | ||||||||||||
Total | $ | 218,277 | |||||||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Borrowings | As of December 31, 2014 and 2013 borrowings consisted of the following: | ||||||||||||
2014 | 2013 | ||||||||||||
Securities sold under agreements to repurchase | $ | 121,869 | $ | 119,187 | |||||||||
Federal Home Loan Bank (FHLB) Fixed-term advances | 20,000 | 20,000 | |||||||||||
Subordinated debentures | 20,620 | 20,620 | |||||||||||
Total | $ | 162,489 | $ | 159,807 | |||||||||
Aggregate annual maturities of long-term borrowings | Aggregate annual maturities of FHLB advances and subordinated debentures at December 31, 2014 are: | ||||||||||||
2015 | $ | 5,000 | |||||||||||
2016 | 5,000 | ||||||||||||
2017 | — | ||||||||||||
2018 | — | ||||||||||||
2019 | — | ||||||||||||
Thereafter | 30,620 | ||||||||||||
$ | 40,620 | ||||||||||||
Securities underlying the repurchase agreements | The securities underlying the repurchase agreements are under the Company’s control. | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Securities sold under agreements to repurchase: | |||||||||||||
Maximum outstanding at any month-end | $ | 121,869 | $ | 119,187 | $ | 118,030 | |||||||
Average amount outstanding for the year | 97,478 | 87,468 | 113,443 | ||||||||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | As of December 31, 2014 and 2013, the most recent notification from the primary regulators categorized First Mid Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios must be maintained as set forth in the table below. At December 31, 2014, there were no conditions or events since the most recent notification that management believes have changed this categorization. | ||||||||||||||||||
Actual | Required Minimum For Capital Adequacy Purposes | To Be Well-Capitalized Under Prompt Corrective Action Provisions | |||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
31-Dec-14 | |||||||||||||||||||
Total Capital (to risk-weighted assets) | |||||||||||||||||||
Company | $ | 180,678 | 15.6 | % | $ | 92,675 | > 8.00% | N/A | N/A | ||||||||||
First Mid Bank | 172,991 | 15.02 | % | 92,110 | > 8.00 | $ | 115,137 | > 10.00% | |||||||||||
Tier 1 Capital (to risk-weighted assets) | |||||||||||||||||||
Company | 166,996 | 14.42 | % | 46,338 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 159,309 | 13.84 | % | 46,055 | > 4.00 | 69,082 | > 6.00 | ||||||||||||
Tier 1 Capital (to average assets) | |||||||||||||||||||
Company | 166,996 | 10.52 | % | 63,493 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 159,309 | 10.08 | % | 63,210 | > 4.00 | 79,012 | > 5.00 | ||||||||||||
31-Dec-13 | |||||||||||||||||||
Total Capital (to risk-weighted assets) | |||||||||||||||||||
Company | $ | 170,344 | 15.58 | % | $ | 87,472 | > 8.00% | N/A | N/A | ||||||||||
First Mid Bank | 161,650 | 14.89 | % | 86,830 | > 8.00 | $ | 108,538 | > 10.00% | |||||||||||
Tier 1 Capital (to risk-weighted assets) | |||||||||||||||||||
Company | 157,095 | 14.37 | % | 43,736 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 148,401 | 13.67 | % | 43,415 | > 4.00 | 65,123 | > 6.00 | ||||||||||||
Tier 1 Capital (to average assets) | |||||||||||||||||||
Company | 157,095 | 10.12 | % | 62,069 | > 4.00 | N/A | N/A | ||||||||||||
First Mid Bank | 148,401 | 9.62 | % | 61,737 | > 4.00 | 77,171 | > 5.00 | ||||||||||||
Disclosures_of_Fair_Values_of_1
Disclosures of Fair Values of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Assets Measured at Fair Value on Recurring Basis | The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||
Fair Value | (Level 3) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 99,957 | $ | — | $ | 99,957 | $ | — | ||||||||||||
Obligations of states and political subdivisions | 78,084 | — | 78,084 | — | ||||||||||||||||
Mortgage-backed securities | 195,401 | — | 195,401 | — | ||||||||||||||||
Trust preferred securities | 364 | — | — | 364 | ||||||||||||||||
Other securities | 4,050 | 55 | 3,995 | — | ||||||||||||||||
Total available-for-sale securities | $ | 377,856 | $ | 55 | $ | 377,437 | $ | 364 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 190,368 | $ | — | $ | 190,368 | $ | — | ||||||||||||
Obligations of states and political subdivisions | 64,562 | — | 64,562 | — | ||||||||||||||||
Mortgage-backed securities | 227,601 | — | 227,601 | — | ||||||||||||||||
Trust preferred securities | 191 | — | — | 191 | ||||||||||||||||
Other securities | 6,002 | 67 | 5,935 | — | ||||||||||||||||
Total available-for-sale securities | $ | 488,724 | $ | 67 | $ | 488,466 | $ | 191 | ||||||||||||
Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs | The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2014 and 2013 is summarized as follows (in thousands): | |||||||||||||||||||
Trust Preferred Securities | ||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||
Beginning balance | $ | 191 | $ | 585 | ||||||||||||||||
Transfers into Level 3 | — | — | ||||||||||||||||||
Transfers out of Level 3 | — | — | ||||||||||||||||||
Total gains or losses | ||||||||||||||||||||
Included in net income | — | — | ||||||||||||||||||
Included in other comprehensive income (loss) | 525 | 928 | ||||||||||||||||||
Purchases, issuances, sales and settlements | ||||||||||||||||||||
Purchases | — | — | ||||||||||||||||||
Issuances | — | — | ||||||||||||||||||
Sales | — | (1,138 | ) | |||||||||||||||||
Settlements | (352 | ) | (184 | ) | ||||||||||||||||
Ending balance | $ | 364 | $ | 191 | ||||||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | $ | — | $ | — | ||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||
Fair Value | (Level 3) | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,313 | $ | — | $ | — | $ | 1,313 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,383 | $ | — | $ | — | $ | 1,383 | ||||||||||||
Foreclosed assets held for sale | 172 | — | — | 172 | ||||||||||||||||
Significant Assumptions Used in Valuation of Level 3 Financial Instruments | The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill at December 31, 2014. | |||||||||||||||||||
Fair Value (in thousands) | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | |||||||||||||||||
Trust Preferred Securities | $ | 364 | Discounted cash flow | Discount rate | 11.6 | % | ||||||||||||||
Constant prepayment rate (1) | 1.3 | % | ||||||||||||||||||
Cumulative projected prepayments | 24.4 | % | ||||||||||||||||||
Probability of default | 0.1 | % | ||||||||||||||||||
Projected cures given deferral | 100 | % | ||||||||||||||||||
Loss severity | 97.4 | % | ||||||||||||||||||
Impaired loans (collateral dependent) | $ | 1,313 | Third party valuations | Discount to reflect realizable value | 0 | % | - | 40% | ( | 20 | % | ) | ||||||||
-1 | Every five years | |||||||||||||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments Not Carried at Fair Value | The following tables present estimated fair values of the Company’s financial instruments at December 31, 2014 and 2013 in accordance with FAS 107-1 and APB 28-1, codified with ASC 805 (in thousands): | |||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Value | |||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and due from banks | $ | 51,236 | $ | 51,236 | $ | 51,236 | $ | — | $ | — | ||||||||||
Federal funds sold | 494 | 494 | 494 | — | — | |||||||||||||||
Available-for-sale securities | 377,856 | 377,856 | 55 | 377,437 | 364 | |||||||||||||||
Held-to-maturity securities | 53,650 | 53,937 | — | 53,937 | — | |||||||||||||||
Loans held for sale | 1,958 | 1,958 | — | 1,958 | — | |||||||||||||||
Loans net of allowance for loan losses | 1,046,766 | 1,051,110 | — | — | 1,051,110 | |||||||||||||||
Interest receivable | 6,828 | 6,828 | — | 6,828 | — | |||||||||||||||
Federal Reserve Bank stock | 1,522 | 1,522 | — | 1,522 | — | |||||||||||||||
Federal Home Loan Bank stock | 3,391 | 3,391 | — | 3,391 | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits | 1,272,077 | 1,272,358 | — | 1,053,800 | 218,558 | |||||||||||||||
Securities sold under agreements to repurchase | 121,869 | 121,870 | — | 121,870 | — | |||||||||||||||
Interest payable | 285 | 285 | — | 285 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 20,000 | 20,541 | — | 20,541 | — | |||||||||||||||
Junior subordinated debentures | 20,620 | 12,528 | — | 12,528 | — | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and due from banks | $ | 64,605 | $ | 64,605 | $ | 64,605 | $ | — | $ | — | ||||||||||
Federal funds sold | 497 | 497 | 497 | — | — | |||||||||||||||
Available-for-sale securities | 488,724 | 488,724 | 67 | 488,466 | 191 | |||||||||||||||
Loans held for sale | 514 | 514 | — | 514 | — | |||||||||||||||
Loans net of allowance for loan losses | 969,041 | 964,253 | — | — | 964,253 | |||||||||||||||
Interest receivable | 6,614 | 6,614 | — | 6,614 | — | |||||||||||||||
Federal Reserve Bank stock | 1,522 | 1,522 | — | 1,522 | — | |||||||||||||||
Federal Home Loan Bank stock | 3,391 | 3,391 | — | 3,391 | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits | 1,287,616 | 1,287,887 | — | 1,058,965 | 228,922 | |||||||||||||||
Securities sold under agreements to repurchase | 119,187 | 119,190 | — | 119,190 | — | |||||||||||||||
Interest payable | 277 | 277 | — | 277 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 20,000 | 20,530 | — | 20,530 | — | |||||||||||||||
Junior subordinated debentures | 20,620 | 12,041 | — | 12,041 | — | |||||||||||||||
Stock_Incentive_Plan_Tables
Stock Incentive Plan (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||
Compensation cost, net of forfeitures, related to stock-based compensation | The following table summarizes the compensation cost, net of forfeitures, related to stock-based compensation for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Stock and stock unit awards: | |||||||||||||||||||
Pre-tax compensation expense | $ | 376 | $ | 339 | $ | 210 | |||||||||||||
Income tax benefit | (132 | ) | (118 | ) | (73 | ) | |||||||||||||
Stock and stock unit awards expense, net of income taxes | $ | 244 | $ | 221 | $ | 137 | |||||||||||||
Stock options: | |||||||||||||||||||
Pre-tax compensation expense | $ | — | $ | — | $ | 17 | |||||||||||||
Income tax benefit | — | — | (6 | ) | |||||||||||||||
Stock options expense, net of income taxes | $ | — | $ | — | $ | 11 | |||||||||||||
Total share-based compensation: | |||||||||||||||||||
Pre-tax compensation expense | $ | 376 | $ | 339 | $ | 227 | |||||||||||||
Income tax benefit | (132 | ) | (118 | ) | (79 | ) | |||||||||||||
Total share-based compensation expense, net of income taxes | $ | 244 | $ | 221 | $ | 148 | |||||||||||||
Summary of option activity | A summary of option activity under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2014, 2013 and 2012, and changes during the years then ended is presented below: | ||||||||||||||||||
2014 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 128,750 | $26.20 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 0 | 0 | |||||||||||||||||
Forfeited or expired | 76,750 | 27.25 | |||||||||||||||||
Outstanding, end of year | 52,000 | $24.64 | 3.43 | $ | — | ||||||||||||||
Exercisable, end of year | 52,000 | $24.64 | 3.43 | $ | — | ||||||||||||||
There were no options exercised during 2014. Stock options for 52,000 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2014 because they were anti-dilutive. | |||||||||||||||||||
2013 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 176,625 | $24.88 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 39,373 | 20.67 | |||||||||||||||||
Forfeited or expired | 8,502 | 24.34 | |||||||||||||||||
Outstanding, end of year | 128,750 | $26.20 | 2.42 | $ | — | ||||||||||||||
Exercisable, end of year | 128,750 | $26.20 | 2.42 | $ | — | ||||||||||||||
The total intrinsic value of options exercised during 2013 was $75,000. Stock options for 128,750 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2013 because they were anti-dilutive. | |||||||||||||||||||
2012 | |||||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||||
Exercise Price | Remaining | Intrinsic Value | |||||||||||||||||
Contractual Term | |||||||||||||||||||
Outstanding, beginning of year | 228,140 | $23.09 | |||||||||||||||||
Granted | 0 | 0 | |||||||||||||||||
Exercised | 44,763 | 15.9 | |||||||||||||||||
Forfeited or expired | 6,752 | 24 | |||||||||||||||||
Outstanding, end of year | 176,625 | $24.88 | 2.81 | $ | 89,061 | ||||||||||||||
Exercisable, end of year | 170,000 | $24.95 | 2.69 | $ | 89,061 | ||||||||||||||
The total intrinsic value of options exercised during 2012 was $332,000. Stock options for 108,125 shares of common stock were not considered in computing the aggregate intrinsic value of outstanding shares and exercisable shares for 2012 because they were anti-dilutive. | |||||||||||||||||||
Unvested options | A summary of the status of the Company’s shares subject to unvested options under the SI Plan and the 1997 Stock Incentive Plan as of December 31, 2013 and 2012, and changes during the years then ended, is presented below. All options were vested as of December 31, 2013. | ||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Weighted-Average Grant-Date | Weighted-Average Grant-Date | ||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||
Shares | Shares | ||||||||||||||||||
Unvested, beginning of year | 6,625 | $2.51 | 20,875 | $3.16 | |||||||||||||||
Granted | 0 | $0.00 | 0 | $0.00 | |||||||||||||||
Vested | -6,375 | $3.47 | -14,250 | $3.47 | |||||||||||||||
Forfeited | 250 | $3.68 | 0 | $0.00 | |||||||||||||||
Unvested, end of year | 0 | $0.00 | 6,625 | $2.51 | |||||||||||||||
Stock options, by exercise price range | The following table summarizes information about stock options under the SI Plan outstanding at December 31, 2014: | ||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Range of Exercise Prices | Number Outstanding | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | Number Exercisable | Weighted-Average Exercise Price | ||||||||||||||
$22.50 to $24.50 | 24,500 | 3.96 | $23.00 | 24,500 | $23.00 | ||||||||||||||
$24.50 to $26.50 | 27,500 | 2.95 | $26.10 | 27,500 | $26.10 | ||||||||||||||
52,000 | 3.43 | $24.64 | 52,000 | $24.64 | |||||||||||||||
Schedule of Unvested Restricted Stock and Restricted Stock Units Roll Forward [Table Text Block] | The following table summarizes non-vested stock and stock unit activity for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Shares | Weighted-avg Grant-date Fair Value | Shares | Weighted-avg Grant-date Fair Value | Shares | Weighted-avg Grant-date Fair Value | ||||||||||||||
Nonvested, beginning of year | 24,799 | $24.16 | 25,337 | $22.16 | 15,096 | $18.70 | |||||||||||||
Granted | 19,377 | 22 | 14,054 | 23.46 | 15,162 | 25.5 | |||||||||||||
Vested | -14,499 | 23.72 | -14,592 | 20.01 | -4,179 | 21.84 | |||||||||||||
Forfeited | -2,780 | 23.12 | 0 | 0 | -742 | 21.87 | |||||||||||||
Nonvested, end of year | 26,897 | $22.95 | 24,799 | $24.16 | 25,337 | $22.16 | |||||||||||||
Fair value of shares vested | $ | 343,910 | $ | 329,721 | $ | 91,259 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Components of federal and state income tax expense (benefit) | The components of federal and state income tax expense for the years ended December 31, 2014, 2013 and 2012 were as follows: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current | |||||||||||||
Federal | $ | 6,956 | $ | 5,899 | $ | 6,247 | |||||||
State | 2,287 | 1,976 | 1,933 | ||||||||||
Total Current | 9,243 | 7,875 | 8,180 | ||||||||||
Deferred | |||||||||||||
Federal | (17 | ) | 750 | 219 | |||||||||
State | 28 | 221 | 11 | ||||||||||
Total Deferred | 11 | 971 | 230 | ||||||||||
Total | $ | 9,254 | $ | 8,846 | $ | 8,410 | |||||||
Effective income tax rate reconciliation | The principal reasons for the difference are as follows: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected income taxes | $ | 8,650 | $ | 8,249 | $ | 7,852 | |||||||
Effects of: | |||||||||||||
Tax-exempt income | (954 | ) | (877 | ) | (761 | ) | |||||||
Nondeductible interest expense | 10 | 9 | 14 | ||||||||||
State taxes, net of federal taxes | 1,505 | 1,429 | 1,264 | ||||||||||
Other items | 43 | 36 | 41 | ||||||||||
Total | $ | 9,254 | $ | 8,846 | $ | 8,410 | |||||||
Deferred tax assets and deferred tax liabilities | The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2014 and 2013 are presented below: | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 5,522 | $ | 5,348 | |||||||||
Available-for-sale investment securities | 559 | 5,353 | |||||||||||
Deferred compensation | 1,108 | 1,070 | |||||||||||
Supplemental retirement | 317 | 351 | |||||||||||
Core deposit premium and other intangible assets | 341 | 255 | |||||||||||
Interest on non-accrual loans | 35 | 31 | |||||||||||
Other-than-temporary impairment on securities | 449 | 449 | |||||||||||
Other | 412 | 407 | |||||||||||
Total gross deferred tax assets | 8,743 | 13,264 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred loan costs | 110 | 110 | |||||||||||
Goodwill | 3,441 | 3,004 | |||||||||||
Prepaid expenses | 296 | 258 | |||||||||||
FHLB stock dividend | 285 | 285 | |||||||||||
Depreciation | 600 | 731 | |||||||||||
Purchase accounting | — | 66 | |||||||||||
Accumulated accretion | 39 | 33 | |||||||||||
Total gross deferred tax liabilities | 4,771 | 4,487 | |||||||||||
Net deferred tax assets | $ | 3,972 | $ | 8,777 | |||||||||
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Off-balance sheet financial instruments whose contract amounts represent credit risk | The off-balance sheet financial instruments whose contract amounts represent credit risk at December 31, 2014 and 2013 were as follows (in thousands): | |||||||
2014 | 2013 | |||||||
Unused commitments and lines of credit: | ||||||||
Commercial real estate | $ | 32,927 | $ | 23,770 | ||||
Commercial operating | 133,884 | 139,395 | ||||||
Home equity | 23,285 | 24,071 | ||||||
Other | 47,498 | 52,251 | ||||||
Total | $ | 237,594 | $ | 239,487 | ||||
Standby letters of credit | $ | 5,193 | $ | 4,732 | ||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related party transactions | Activity during 2014 and 2013 was as follows: | ||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 24,539 | $ | 21,638 | |||||
New loans | 11,154 | 9,380 | |||||||
Loan repayments | (3,643 | ) | (6,479 | ) | |||||
Ending balance | $ | 32,050 | $ | 24,539 | |||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Leases [Abstract] | ||||
Future minimum lease payments under operating leases | Future minimum lease payments under operating leases are: | |||
Operating Leases | ||||
2015 | $ | 1,041 | ||
2016 | 695 | |||
2017 | 694 | |||
2018 | 619 | |||
2019 | 619 | |||
Thereafter | 674 | |||
Total minimum lease payments | $ | 4,342 | ||
Parent_Company_Only_Financial_1
Parent Company Only Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed balance sheets | |||||||||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Balance Sheets | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash | $ | 1,729 | $ | 2,645 | |||||||||
Premises and equipment, net | 2,789 | 2,935 | |||||||||||
Investment in subsidiaries | 180,774 | 164,311 | |||||||||||
Other assets | 2,248 | 2,584 | |||||||||||
Total Assets | $ | 187,540 | $ | 172,475 | |||||||||
Liabilities and Stockholders’ equity | |||||||||||||
Liabilities | |||||||||||||
Dividends payable | $ | 550 | $ | 1,104 | |||||||||
Debt | 20,620 | 20,620 | |||||||||||
Other liabilities | 1,454 | 1,370 | |||||||||||
Total Liabilities | 22,624 | 23,094 | |||||||||||
Stockholders’ equity | 164,916 | 149,381 | |||||||||||
Total Liabilities and Stockholders’ equity | $ | 187,540 | $ | 172,475 | |||||||||
Condensed statements of income | |||||||||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Statements of Income and Comprehensive Income | Years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income: | |||||||||||||
Dividends from subsidiaries | $ | 7,900 | $ | 1,438 | $ | 1,438 | |||||||
Other income | 65 | 64 | 64 | ||||||||||
Total income | 7,965 | 1,502 | 1,502 | ||||||||||
Operating expenses | 2,425 | 2,233 | 2,519 | ||||||||||
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries | 5,540 | (731 | ) | (1,017 | ) | ||||||||
Income tax benefit | 948 | 876 | 990 | ||||||||||
Income (loss) before equity in undistributed earnings of subsidiaries | 6,488 | 145 | (27 | ) | |||||||||
Equity in undistributed earnings of subsidiaries | 8,973 | 14,577 | 14,052 | ||||||||||
Net income | $ | 15,461 | $ | 14,722 | $ | 14,025 | |||||||
Other comprehensive income (loss), net of taxes | 7,505 | (12,924 | ) | 1,396 | |||||||||
Comprehensive income | $ | 22,966 | $ | 1,798 | $ | 15,421 | |||||||
Condensed statements of cash flows | |||||||||||||
First Mid-Illinois Bancshares, Inc. (Parent Company) | |||||||||||||
Statements of Cash Flows | Years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 15,461 | $ | 14,722 | $ | 14,025 | |||||||
Adjustments to reconcile net income to net | |||||||||||||
cash provided by operating activities: | |||||||||||||
Depreciation, amortization, accretion, net | 110 | 116 | 114 | ||||||||||
Dividends received from subsidiary | 7,900 | 1,438 | 1,438 | ||||||||||
Equity in undistributed earnings of subsidiaries | (8,973 | ) | (14,577 | ) | (14,052 | ) | |||||||
Increase in other assets | (7,412 | ) | (1,512 | ) | (1,436 | ) | |||||||
Increase in other liabilities | 260 | 180 | 319 | ||||||||||
Net cash provided by operating activities | 7,346 | 367 | 408 | ||||||||||
Cash flows from financing activities: | |||||||||||||
Repayment of short-term debt | — | — | (8,250 | ) | |||||||||
Conversion of preferred stock to shares of common stock | (24,635 | ) | — | — | |||||||||
Proceeds from issuance of preferred stock | — | — | 8,250 | ||||||||||
Proceeds from issuance of common stock | 25,123 | 1,303 | 1,255 | ||||||||||
Purchase of treasury stock | (1,763 | ) | (4,619 | ) | (3,912 | ) | |||||||
Dividends paid on preferred stock | (4,339 | ) | (4,050 | ) | (3,788 | ) | |||||||
Dividends paid on common stock | (2,648 | ) | (2,014 | ) | (2,843 | ) | |||||||
Net cash used in financing activities | (8,262 | ) | (9,380 | ) | (9,288 | ) | |||||||
Decrease in cash | (916 | ) | (9,013 | ) | (8,880 | ) | |||||||
Cash at beginning of year | 2,645 | 11,658 | 20,538 | ||||||||||
Cash at end of year | $ | 1,729 | $ | 2,645 | $ | 11,658 | |||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data -- Unaudited (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly financial data - unaudited | The following table presents summarized quarterly data for each of the two years ended December 31, 2014 and 2013: | ||||||||||||||||
Quarters ended in 2014 | |||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | ||||||||||||||
Selected operations data: | |||||||||||||||||
Interest income | $ | 13,362 | $ | 13,600 | $ | 13,807 | $ | 13,965 | |||||||||
Interest expense | 815 | 788 | 805 | 844 | |||||||||||||
Net interest income | 12,547 | 12,812 | 13,002 | 13,121 | |||||||||||||
Provision for loan losses | 323 | 128 | 44 | 134 | |||||||||||||
Net interest income after provision for loan losses | 12,224 | 12,684 | 12,958 | 12,987 | |||||||||||||
Other income | 4,481 | 4,990 | 4,402 | 4,496 | |||||||||||||
Other expense | 10,960 | 11,214 | 11,090 | 11,243 | |||||||||||||
Income before income taxes | 5,745 | 6,460 | 6,270 | 6,240 | |||||||||||||
Income taxes | 2,138 | 2,431 | 2,355 | 2,330 | |||||||||||||
Net income | 3,607 | 4,029 | 3,915 | 3,910 | |||||||||||||
Dividends on preferred shares | 1,104 | 1,104 | 1,105 | 839 | |||||||||||||
Net income available to common stockholders | $ | 2,503 | $ | 2,925 | $ | 2,810 | $ | 3,071 | |||||||||
Basic earnings per common share | $0.43 | $0.49 | $0.48 | $0.48 | |||||||||||||
Diluted earnings per common share | 0.43 | 0.48 | 0.47 | 0.47 | |||||||||||||
Quarters ended in 2013 | |||||||||||||||||
31-Mar | 30-Jun | 30-Sep | 31-Dec | ||||||||||||||
Selected operations data: | |||||||||||||||||
Interest income | $ | 13,202 | $ | 13,206 | $ | 13,446 | $ | 13,605 | |||||||||
Interest expense | 998 | 865 | 824 | 848 | |||||||||||||
Net interest income | 12,204 | 12,341 | 12,622 | 12,757 | |||||||||||||
Provision for loan losses | 480 | 252 | 975 | 486 | |||||||||||||
Net interest income after provision for loan losses | 11,724 | 12,089 | 11,647 | 12,271 | |||||||||||||
Other income | 4,550 | 4,714 | 5,697 | 4,380 | |||||||||||||
Other expense | 10,612 | 10,918 | 11,082 | 10,892 | |||||||||||||
Income before income taxes | 5,662 | 5,885 | 6,262 | 5,759 | |||||||||||||
Income taxes | 2,134 | 2,220 | 2,352 | 2,140 | |||||||||||||
Net income | 3,528 | 3,665 | 3,910 | 3,619 | |||||||||||||
Dividends on preferred shares | 1,104 | 1,105 | 1,104 | 1,104 | |||||||||||||
Net income available to common stockholders | $ | 2,424 | $ | 2,560 | $ | 2,806 | $ | 2,515 | |||||||||
Basic earnings per common share | $ | 0.41 | $ | 0.43 | $ | 0.47 | $ | 0.43 | |||||||||
Diluted earnings per common share | 0.41 | 0.43 | 0.47 | 0.42 | |||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Summary of Significant Accounting Policies 1 (Details) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Maximum number of shares to be issued in stock incentive plan (in shares) | 300,000 | |||
Options, Grants in Period, Gross | 0 | 0 | 0 | |
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 | |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options, Grants in Period, Gross | 59,500 | |||
Stock Unit Awards and Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 | |
Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of Awards Issued | 50.00% | |||
Stock Unit Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of Awards Issued | 50.00% |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Summary of Significant Accounting Policies 2 (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Nov. 17, 2014 | Sep. 30, 2008 | Jun. 28, 2012 | 13-May-11 | Mar. 02, 2011 | Feb. 11, 2011 | |
director | investors | |||||||||||
dividend_period | ||||||||||||
Series B Convertible Preferred Stock [Abstract] | ||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 231.267 | |||||||||||
Proceeds from issuance of preferred stock | $0 | $0 | $8,250,000 | |||||||||
Conversion of Stock, Shares Issued | 1,139,195 | |||||||||||
Series C Convertible Preferred Stock [Abstract] | ||||||||||||
Preferred Stock issued during period, value | 27,400,000 | 27,400,000 | 52,035,000 | |||||||||
Proceeds from issuance of preferred stock | 0 | 0 | 8,250,000 | |||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||||
Series B Convertible Preferred Stock [Abstract] | ||||||||||||
Preferred stock issue price (in dollars per share) | $5,000 | |||||||||||
Number of dividend periods | 4 | |||||||||||
Number of Directors to be Elected by Holders of Preferred Stock | 2 | |||||||||||
Liquidation preference per share (in dollars per share) | 5,000 | 5,000 | ||||||||||
Preferred stock, conversion price per share (in dollars per share) | $21.94 | |||||||||||
Preferred stock, redemption price per share (in dollars per share) | $5,000 | $5,000 | ||||||||||
Percentage of common stock book value required for the conversion of preferred stock (in hundredths) | 115.00% | |||||||||||
Common Stock, Book Value (in dollars per share) | $19.55 | $19.55 | $13.03 | |||||||||
115% of common stock book value (in dollars per share) | $14.98 | |||||||||||
Preferred stock, revised conversion price per share (in dollars per share) | $21.62 | |||||||||||
Preferred Stock, Shares Outstanding | 4,926 | |||||||||||
Proceeds from issuance of preferred stock | 24,635,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage (in hundredths) | 9.00% | |||||||||||
Series C Convertible Preferred Stock [Abstract] | ||||||||||||
Proceeds from issuance of preferred stock | 24,635,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage (in hundredths) | 9.00% | |||||||||||
Series C Convertible Preferred Stock [Member] | ||||||||||||
Series B Convertible Preferred Stock [Abstract] | ||||||||||||
Preferred stock issue price (in dollars per share) | $5,000 | |||||||||||
Number of dividend periods | 4 | |||||||||||
Number of Directors to be Elected by Holders of Preferred Stock | 2 | |||||||||||
Liquidation preference per share (in dollars per share) | 5,000 | 5,000 | ||||||||||
Preferred stock, conversion price per share (in dollars per share) | $20.29 | |||||||||||
Preferred stock, redemption price per share (in dollars per share) | $5,000 | $5,000 | ||||||||||
Proceeds from issuance of preferred stock | 27,500,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage (in hundredths) | 8.00% | |||||||||||
Series C Convertible Preferred Stock [Abstract] | ||||||||||||
Preferred Stock, shares subscribed, value | 27,500,000 | |||||||||||
Number of Investors Completing the Required Bank Regulatory Process | 4 | 3 | ||||||||||
Preferred Stock issued during period, value | 8,250,000 | 5,490,000 | 2,750,000 | 11,010,000 | ||||||||
Percentage of common stock tangible book value required for the conversion of common stock (in hundredths) | 115.00% | |||||||||||
Tangible book value per share of common stock (in dollars per share) | $15.63 | $15.63 | $9.38 | |||||||||
115% of common stock tangible book value (in dollars per share) | $10.79 | |||||||||||
Percentage of the NASDAQ Bank Index required for the conversion of Series C Preferred Stock (in hundredths) | 115.00% | |||||||||||
NASDAQ Bank Index | 2,675.88 | 2,675.88 | 1,847.35 | |||||||||
115% of NASDAQ Bank Index | 2,124.45 | |||||||||||
Proceeds from issuance of preferred stock | $27,500,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage (in hundredths) | 8.00% |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies 3 (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Gross Unrealized (Losses) | ($1,328) | ||
Gain (Loss) on Sale of Securities, Net | 715 | 2,293 | 934 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | -279 | -894 | -364 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | 436 | 1,399 | 570 |
Accumulated Other Comprehensive Income (Loss) | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Net unrealized gains on securities available-for-sale | 2,829 | -10,272 | |
Unrealized gain (loss) on available-for-sale securities, tax benefit | -586 | 4,004 | |
Total unrealized gain (loss) on available for sale securities, net of tax | 915 | -6,268 | |
Securities with other-than-temporary impairment losses | -2,936 | -3,461 | |
Securities with other-than-temporary impairment losses, tax benefit | 1,146 | 1,349 | |
Total securities with other-than-temporary impairment losses, net of tax | -1,790 | -2,112 | |
Accumulated other comprehensive income, tax | 560 | 5,353 | |
Total accumulated other comprehensive income, net of tax | ($875) | ($8,380) |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Summary of Significant Accounting Policies 4 (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | trust_accounts | trust_accounts |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Number of Trust Accounts managed or administered | 1,478 | 1,498 |
Value of Trust Accounts | $757.30 | $722.90 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies Summary of Significant Accounting Policies 5 (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Buildings and improvements | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 20 years |
Buildings and improvements | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 40 years |
Leasehold improvements | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Leasehold improvements | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 15 years |
Furniture and equipment | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Furniture and equipment | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 7 years |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Basic Net Income per Common Share Available to Common Stockholders [Abstract] | |||||||||||
Net income | $3,910,000 | $3,915,000 | $4,029,000 | $3,607,000 | $3,619,000 | $3,910,000 | $3,665,000 | $3,528,000 | $15,461,000 | $14,722,000 | $14,025,000 |
Preferred stock dividends | -4,152,000 | -4,417,000 | -4,252,000 | ||||||||
Net income available to common stockholders | 3,071,000 | 2,810,000 | 2,925,000 | 2,503,000 | 2,515,000 | 2,806,000 | 2,560,000 | 2,424,000 | 11,309,000 | 10,305,000 | 9,773,000 |
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||
Basic earnings per common share | $0.48 | $0.48 | $0.49 | $0.43 | $0.43 | $0.47 | $0.43 | $0.41 | $1.88 | $1.74 | $1.62 |
Diluted Net Income per Common Share Available to Common Stockholders [Abstract] | |||||||||||
Net income available to common stockholders | 3,071,000 | 2,810,000 | 2,925,000 | 2,503,000 | 2,515,000 | 2,806,000 | 2,560,000 | 2,424,000 | 11,309,000 | 10,305,000 | 9,773,000 |
Effect of assumed preferred stock conversion | 4,152,000 | 0 | 0 | ||||||||
Net income applicable to diluted earnings per share | $15,461,000 | $10,305,000 | $9,773,000 | ||||||||
Weighted average common shares outstanding | 6,002,766 | 5,934,628 | 6,023,289 | ||||||||
Dilutive potential common shares [Abstract] | |||||||||||
Assumed conversion of stock options | 0 | 2,090 | 4,473 | ||||||||
Restricted stock awarded | 11,725 | 8,184 | 116 | ||||||||
Assumed conversion of preferred stock | 2,357,196 | 0 | 0 | ||||||||
Dilutive potential common shares | 2,368,921 | 10,274 | 4,589 | ||||||||
Diluted weighted average common shares outstanding | 8,371,687 | 5,944,902 | 6,027,878 | ||||||||
Diluted earnings per common share | $0.47 | $0.47 | $0.48 | $0.43 | $0.42 | $0.47 | $0.43 | $0.41 | $1.85 | $1.73 | $1.62 |
Stock options to purchase shares of common stock | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 52,000 | 130,500 | 108,125 | ||||||||
Average dilutive potential common shares associated with convertible preferred stock | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 0 | 2,494,801 | 2,290,110 |
Cash_and_Due_from_Banks_Cash_a
Cash and Due from Banks Cash and Due from Banks (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash and Cash Equivalents [Line Items] | |||
Restricted Cash and Cash Equivalents, Current | $3,903,000 | $1,583,000 | $1,134,000 |
Investment_Securities_Details
Investment Securities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $5,156,000 | $3,526,000 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 377,963,000 | 502,457,000 | |
Gross Unrealized Gains | 5,273,000 | 3,417,000 | |
Gross Unrealized (Losses) | 5,380,000 | 17,150,000 | |
Fair Value | 377,856,000 | 488,724,000 | |
Held-to-maturity Securities [Abstract] | |||
Amortized Cost | 53,650,000 | 0 | |
Fair Value | 53,937,000 | 0 | |
Available-For-Sale Securities Transferred to Held-To-Maturity, Carrying Value | 53,600,000 | ||
Available-For-Sale Transfers To Held-To-Maturity, Gross Losses | 1,400,000 | ||
Realized Investment Gains (Losses) [Abstract] | |||
Proceeds from sales | 75,618,000 | 69,665,000 | 30,500,000 |
Gross gains | 1,452,000 | 2,454,000 | 934,000 |
Gross losses | 737,000 | 161,000 | 0 |
Income tax expense | 279,000 | 894,000 | 364,000 |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,312,000 | 0 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 101,224,000 | 197,805,000 | |
Gross Unrealized Gains | 91,000 | 137,000 | |
Gross Unrealized (Losses) | 1,358,000 | 7,574,000 | |
Fair Value | 99,957,000 | 190,368,000 | |
Held-to-maturity Securities [Abstract] | |||
Amortized Cost | 53,650,000 | ||
Gross Unrealized Gains | 299,000 | ||
Gross Unrealized (Losses) | -12,000 | ||
Fair Value | 53,937,000 | ||
Obligations of states and political subdivisions | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 94,000 | 65,000 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 75,589,000 | 65,304,000 | |
Gross Unrealized Gains | 2,608,000 | 1,031,000 | |
Gross Unrealized (Losses) | 113,000 | 1,773,000 | |
Fair Value | 78,084,000 | 64,562,000 | |
Mortgage-backed securities: GSE residential | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 802,000 | 0 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 193,814,000 | 229,661,000 | |
Gross Unrealized Gains | 2,548,000 | 2,215,000 | |
Gross Unrealized (Losses) | 961,000 | 4,275,000 | |
Fair Value | 195,401,000 | 227,601,000 | |
Trust preferred securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,936,000 | 3,461,000 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 3,300,000 | 3,652,000 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized (Losses) | 2,936,000 | 3,461,000 | |
Fair Value | 364,000 | 191,000 | |
Held-to-maturity Securities [Abstract] | |||
Number of trust preferred securities | 1 | ||
Maturities of Debt Securities | twenty-three | ||
Other securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 12,000 | 0 | |
Available-for-sale: [Abstract] | |||
Amortized Cost | 4,036,000 | 6,035,000 | |
Gross Unrealized Gains | 26,000 | 34,000 | |
Gross Unrealized (Losses) | 12,000 | 67,000 | |
Fair Value | $4,050,000 | $6,002,000 |
Investment_Securities_Part_II_
Investment Securities, Part II (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | $77,828,000 | ||
After 1 through 5 years | 213,809,000 | ||
After 5 through 10 years | 85,800,000 | ||
After ten years | 419,000 | ||
Fair Value | 377,856,000 | 488,724,000 | |
Available-for-sale, Weighted Average Yield, Maturities Year One (in hundredths) | 1.78% | ||
Available-for-sale , Weighted Average Yield, Maturities After 1 through 5 Years (in hundredths) | 2.43% | ||
Available-for-sale , Weighted Average Yield, Maturities After 10 Years (in hundredths) | 1.13% | ||
Available-for-sale , Weighted Average Yield, Maturities (in hundredths) | 2.35% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities Year One (in hundredths) | 1.99% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After 1 through 5 Years (in hundredths) | 2.85% | ||
Available-for-sale, Weighted Average Yield, Maturities After 5 through 10 Years (in hundredths) | 2.73% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After 5 through 10 years (in hundredths) | 3.79% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After Ten Years (in hundredths) | 1.13% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities (in hundredths) | 2.86% | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | |||
One year or less | 43,925,000 | ||
After 1 through 5 years | 0 | ||
After 5 through 10 years | 9,725,000 | ||
After ten years | 0 | ||
Amortized Cost | 53,650,000 | 0 | |
Held To Maturity Weighted Average Yield Maturities Year One | 2.13% | ||
Held To Maturity Weighted Average Yield Maturities After 1 Through 5 Years | 0.00% | ||
Held To Maturity Weighted Average Yield Maturities After 5 Through 10 Years | 2.28% | ||
Held To Maturity Weighted Average Yield Maturities After 10 Years | 0.00% | ||
Held To Maturity Weighted Average Yield Maturities | 2.22% | ||
Held To Maturity Tax Equivalent Yield Maturities Year One | 2.13% | ||
Held To Maturity Tax Equivalent Yield Maturities After 1 Through 5 Years | 0.00% | ||
Held To Maturity Tax Equivalent Yield Maturities After 5 Through 10 Years | 2.28% | ||
Held To Maturity Tax Equivalent Yield Maturities After 10 Years | 0.00% | ||
Held To Maturity Tax Equivalent Yield Maturities | 2.22% | ||
Tax rate used to calculate tax-equivalent yields (in hundredths) | 35.00% | ||
Percentage investment book value exceeds total stockholders' equity (in hundredths) | 10.00% | ||
Investment Securities Pledged as Collateral | 330,000,000 | 321,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 30,440,000 | 348,118,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 13,624,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 119,022,000 | 1,012,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 5,156,000 | 3,526,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 149,462,000 | 349,130,000 | |
Total Unrealized Losses | -5,380,000 | -17,150,000 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | -224,000 | ||
Details of Trust Preferred Securities [Abstract] | |||
Coupon Rate of Trust Preferred Security | floating rate coupon of 3-month LIBOR plus 90 basis points | ||
Number of Ratios Utilized in OTTI Credit Model | 29 | ||
OTTI Cash Flow Initial Default Rate | 2.00% | ||
Period For Initial Default Rate Used In OTTI Analysis | two years | ||
Default Rate Applied For Remainder Of OTTI Analysis | 36 basis points | ||
Recovery Rate Used In OTTI Cash Flow Analysis | 10.00% | ||
Credit losses on trust preferred securities held [Abstract] | |||
Beginning of period | 1,111,000 | 3,989,000 | 4,116,000 |
Additions related to OTTI losses not previously recognized | 0 | 0 | 0 |
Reductions due to sales / (recoveries) | 0 | -2,878,000 | -127,000 |
Reductions due to change in intent or likelihood of sale | 0 | 0 | 0 |
Additions related to increases in previously recognized OTTI losses | 0 | 0 | 0 |
Reductions due to increases in expected cash flows | 0 | 0 | 0 |
End of period | 1,111,000 | 1,111,000 | 3,989,000 |
Proceeds from maturities of securities held-to-maturity | 57,133,000 | 134,300,000 | 235,013,000 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | |||
Due in one year or less | 75,041,000 | ||
Due after one-five years | 65,428,000 | ||
Due after five-ten years | 40,345,000 | ||
Due after ten years | 3,335,000 | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 184,149,000 | ||
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Rolling Maturity [Abstract] | |||
Mortgage-backed securities: GSE residential | 193,814,000 | ||
Total available-for-sale | 377,963,000 | ||
Available-For-Sale Securities, Debt Maturities, SIngle Maturity Date, Fair Value single maturity [Abstract] | |||
Due in one year or less | 74,057,000 | ||
Due after one-five years | 66,371,000 | ||
Due after five-ten years | 41,608,000 | ||
Due after ten years | 419,000 | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 182,455,000 | ||
Available-for-sale Securities, Debt Maturities, Fair Value, Rolling Maturity [Abstract] | |||
Mortgage-backed securities: GSE residential | 195,401,000 | ||
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value [Abstract] | |||
Due in one year or less | 44,169,000 | ||
Due after one-five years | 0 | ||
Due after five-ten years | 9,768,000 | ||
Due after ten years | 0 | ||
Fair Value | 53,937,000 | 0 | |
PreTSL XXVIII | |||
Details of Trust Preferred Securities [Abstract] | |||
Book Value | 3,300,000 | ||
Market Value | 364,000 | ||
Unrealized Gains (Losses) | -2,936,000 | ||
Other-than- temporary Impairment Recorded To-date | -1,111,000 | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 68,602,000 | ||
After 1 through 5 years | 31,355,000 | ||
After 5 through 10 years | 0 | ||
After ten years | 0 | ||
Fair Value | 99,957,000 | 190,368,000 | |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | |||
One year or less | 43,925,000 | ||
After 1 through 5 years | 0 | ||
After 5 through 10 years | 9,725,000 | ||
After ten years | 0 | ||
Amortized Cost | 53,650,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 7,289,000 | 183,074,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 46,000 | 7,574,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 75,030,000 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 1,312,000 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 82,319,000 | 183,074,000 | |
Total Unrealized Losses | -1,358,000 | -7,574,000 | |
Number of securities in Unrealized Loss Positions | 16 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,853,000 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | -12,000 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 4,853,000 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | -12,000 | ||
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value [Abstract] | |||
Fair Value | 53,937,000 | ||
Obligations of states and political subdivisions | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 5,455,000 | ||
After 1 through 5 years | 35,016,000 | ||
After 5 through 10 years | 37,613,000 | ||
After ten years | 0 | ||
Fair Value | 78,084,000 | 64,562,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 3,586,000 | 29,986,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,708,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 4,416,000 | 808,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 94,000 | 65,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,002,000 | 30,794,000 | |
Total Unrealized Losses | -113,000 | -1,773,000 | |
Number of securities in Unrealized Loss Positions | 10 | 2 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | -19,000 | ||
Mortgage-backed securities: GSE residential | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 3,771,000 | ||
After 1 through 5 years | 147,438,000 | ||
After 5 through 10 years | 44,192,000 | ||
After ten years | 0 | ||
Fair Value | 195,401,000 | 227,601,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 19,565,000 | 131,125,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,275,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 37,224,000 | 13,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 802,000 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 56,789,000 | 131,138,000 | |
Total Unrealized Losses | -961,000 | -4,275,000 | |
Number of securities in Unrealized Loss Positions | 11 | 1 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | -159,000 | ||
Trust preferred securities | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 0 | ||
After 1 through 5 years | 0 | ||
After 5 through 10 years | 0 | ||
After ten years | 364,000 | ||
Fair Value | 364,000 | 191,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 364,000 | 191,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 2,936,000 | 3,461,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 364,000 | 191,000 | |
Total Unrealized Losses | -2,936,000 | -3,461,000 | |
Number of securities in Unrealized Loss Positions | 1 | 1 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | ||
Credit losses on trust preferred securities held [Abstract] | |||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | 1,400,000 | ||
Proceeds from maturities of securities held-to-maturity | 139,000 | ||
Other securities | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 0 | ||
After 1 through 5 years | 0 | ||
After 5 through 10 years | 3,995,000 | ||
After ten years | 55,000 | ||
Fair Value | 4,050,000 | 6,002,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 0 | 3,933,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 67,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,988,000 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Losses | 12,000 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,988,000 | 3,933,000 | |
Total Unrealized Losses | -12,000 | -67,000 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $0 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $1,060,685,000 | $982,710,000 | ||
Net deferred loan fees, premiums and discounts | -237,000 | -420,000 | ||
Allowance for loan losses | 13,682,000 | 13,249,000 | 11,776,000 | 11,120,000 |
Net loans | 1,046,766,000 | 969,041,000 | ||
Loans held for sale | 1,958,000 | 514,000 | ||
Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 21,627,000 | 25,321,000 | ||
Farm loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 110,158,000 | 109,376,000 | ||
1-4 Family residential properties | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 179,886,000 | 184,158,000 | ||
Multifamily residential properties | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 53,129,000 | 50,174,000 | ||
Commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 380,173,000 | 357,726,000 | ||
Debt coverage ratio | 1.20x | |||
Amortization period of loans | twenty years | |||
Commercial real estate | Minimum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan To Value Ratio | 65.00% | |||
Commercial real estate | Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan To Value Ratio | 80.00% | |||
Loans secured by real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 744,973,000 | 726,755,000 | ||
Agricultural loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 68,225,000 | 64,055,000 | ||
Commercial and industrial loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 223,633,000 | 168,227,000 | ||
Loan To Value Ratio | 80.00% | |||
Amortization period of loans | seven years | |||
Loans Receivable, Time Period | one year | |||
Consumer loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 15,118,000 | 14,579,000 | ||
Allowance for loan losses | 386,000 | 377,000 | 403,000 | 378,000 |
All other loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 8,736,000 | 9,094,000 | ||
Agricultural and Farm Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 178,500,000 | 173,500,000 | ||
Increase (Decrease) in Accounts and Notes Receivable | 5,000,000 | |||
Loan To Value Ratio | 65.00% | |||
Amortization period of loans | twenty five years | |||
Loans Receivable, Time Period | one year | |||
Other Grain Farming [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 155,100,000 | 147,100,000 | ||
Increase (Decrease) in Accounts and Notes Receivable | 8,000,000 | |||
Motels and Hotels Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 56,500,000 | |||
General Merchandise Stores [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 46,200,000 | |||
Non-residential Buildings [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 96,500,000 | |||
Residential Buildings [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 65,800,000 | |||
Commercial/Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | 10,914,000 | 10,646,000 | 9,301,000 | 8,791,000 |
Agriculture/Agricultural Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | 1,360,000 | 533,000 | 558,000 | 546,000 |
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | 790,000 | 771,000 | 726,000 | 636,000 |
Loan To Value Ratio | 80.00% | |||
Amortization period of loans | twenty five years | |||
Balloon period | five years | |||
Unallocated [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | $232,000 | $922,000 | $788,000 | $769,000 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses, Part II (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Minimum Balance Of Loans For Which Credit Quality Analysis Is Performed | $100,000 | ||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 1,133,000 | 1,511,000 | |||
60 to 89 Days Past Due | 321,000 | 1,338,000 | |||
90 Days or More Past Due | 1,433,000 | 582,000 | |||
Total Past Due | 2,887,000 | 3,431,000 | |||
Current | 1,059,519,000 | 979,373,000 | |||
Total Loans Receivable | 1,062,406,000 | 982,804,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Number of days past due when interest is not accrued | ninety days | ||||
Period of satisfactory performance before returning to accrual status | six months | ||||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 1,407,000 | 1,985,000 | |||
Unpaid Principal Balance | 4,261,000 | 1,985,000 | |||
Specific Allowance | 263,000 | 604,000 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 3,133,000 | 4,484,000 | |||
Unpaid Principal Balance | 7,902,000 | 6,173,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 4,540,000 | 6,469,000 | |||
Unpaid Principal Balance | 12,163,000 | 8,158,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 4,946,000 | 7,118,000 | 7,871,000 | ||
Interest income recognized | 17,000 | 31,000 | 22,000 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 4,105,000 | 6,121,000 | |||
Interest Lost on Nonaccrual Loans | 71,000,000 | 45,000,000 | 173,000,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 2,860,000 | 3,200,000 | |||
Troubled Debt Restructuring, Allowance | 234,000 | 431,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 2,860,000 | 3,200,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 435,000 | 348,000 | |||
Financing Receivables, Modifications during Period, Balance | 795,000 | 799,000 | |||
Financing Receivables, Modifications during Period, Number | 7 | 13 | |||
Subsequent Default, Number of Days Past Due | 90 days | ||||
Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,026,901,000 | 944,340,000 | |||
Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 25,696,000 | 22,574,000 | |||
Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 9,809,000 | 15,890,000 | |||
Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Construction and land development | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 297,000 | 0 | |||
60 to 89 Days Past Due | 25,000 | 0 | |||
90 Days or More Past Due | 0 | 0 | |||
Total Past Due | 322,000 | 0 | |||
Current | 21,305,000 | 25,321,000 | |||
Total Loans Receivable | 21,627,000 | 25,321,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 785,000 | 614,000 | |||
Unpaid Principal Balance | 2,960,000 | 614,000 | |||
Specific Allowance | 43,000 | 76,000 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 869,000 | |||
Unpaid Principal Balance | 0 | 1,727,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 785,000 | 1,483,000 | |||
Unpaid Principal Balance | 2,960,000 | 2,341,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 933,000 | 1,565,000 | 1,520,000 | ||
Interest income recognized | 0 | 0 | 0 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 785,000 | 1,483,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 785,000 | 1,482,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 785,000 | 1,482,000 | |||
Financing Receivables, Modifications during Period, Balance | 0 | 284,000 | |||
Financing Receivables, Modifications during Period, Number | 0 | [1] | 1 | [1] | |
Construction and land development | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 20,842,000 | 23,839,000 | |||
Construction and land development | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Construction and land development | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 785,000 | 1,482,000 | |||
Construction and land development | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Farm loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 0 | 299,000 | |||
60 to 89 Days Past Due | 0 | 0 | |||
90 Days or More Past Due | 0 | 0 | |||
Total Past Due | 0 | 299,000 | |||
Current | 110,193,000 | 109,106,000 | |||
Total Loans Receivable | 110,193,000 | 109,405,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 73,000 | 105,000 | |||
Unpaid Principal Balance | 235,000 | 113,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 73,000 | 105,000 | |||
Unpaid Principal Balance | 235,000 | 113,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 78,000 | 107,000 | 421,000 | ||
Interest income recognized | 2,000 | 0 | 0 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 29,000 | 105,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 44,000 | 0 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 44,000 | 0 | |||
Financing Receivable Modifications Performing Recorded Investment | 44,000 | 0 | |||
Financing Receivables, Modifications during Period, Balance | 44,000 | 0 | |||
Financing Receivables, Modifications during Period, Number | 2 | [1] | 0 | [1] | |
Farm loans | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 107,976,000 | 108,262,000 | |||
Farm loans | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,036,000 | 231,000 | |||
Farm loans | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,181,000 | 912,000 | |||
Farm loans | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
1-4 Family residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 201,000 | 326,000 | |||
60 to 89 Days Past Due | 224,000 | 146,000 | |||
90 Days or More Past Due | 385,000 | 371,000 | |||
Total Past Due | 810,000 | 843,000 | |||
Current | 181,111,000 | 183,918,000 | |||
Total Loans Receivable | 181,921,000 | 184,761,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 67,000 | 0 | |||
Unpaid Principal Balance | 134,000 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 1,156,000 | 1,110,000 | |||
Unpaid Principal Balance | 2,866,000 | 1,558,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 1,223,000 | 1,110,000 | |||
Unpaid Principal Balance | 3,000,000 | 1,558,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 1,276,000 | 1,248,000 | 1,948,000 | ||
Interest income recognized | 12,000 | 5,000 | 7,000 | ||
Loans Receivable, Modifications, Still Accruing Interest | 345,000 | 101,000 | |||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 878,000 | 1,009,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 503,000 | 306,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 503,000 | 306,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 345,000 | 101,000 | |||
Financing Receivables, Modifications during Period, Balance | 250,000 | 251,000 | |||
Financing Receivables, Modifications during Period, Number | 4 | [1] | 5 | [1] | |
1-4 Family residential properties | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 177,764,000 | 182,593,000 | |||
1-4 Family residential properties | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,187,000 | 637,000 | |||
1-4 Family residential properties | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,970,000 | 1,531,000 | |||
1-4 Family residential properties | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Multifamily residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 0 | 0 | |||
60 to 89 Days Past Due | 0 | 0 | |||
90 Days or More Past Due | 0 | 0 | |||
Total Past Due | 0 | 0 | |||
Current | 53,129,000 | 50,174,000 | |||
Total Loans Receivable | 53,129,000 | 50,174,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 0 | 0 | 0 | ||
Interest income recognized | 0 | 0 | 0 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 0 | 0 | |||
Multifamily residential properties | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 52,793,000 | 50,174,000 | |||
Multifamily residential properties | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Multifamily residential properties | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 336,000 | 0 | |||
Multifamily residential properties | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Commercial real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 60,000 | 568,000 | |||
60 to 89 Days Past Due | 32,000 | 1,030,000 | |||
90 Days or More Past Due | 945,000 | 145,000 | |||
Total Past Due | 1,037,000 | 1,743,000 | |||
Current | 378,567,000 | 355,256,000 | |||
Total Loans Receivable | 379,604,000 | 356,999,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 472,000 | 1,096,000 | |||
Unpaid Principal Balance | 986,000 | 1,096,000 | |||
Specific Allowance | 136,000 | 301,000 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 1,640,000 | 1,750,000 | |||
Unpaid Principal Balance | 3,808,000 | 1,778,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 2,112,000 | 2,846,000 | |||
Unpaid Principal Balance | 4,794,000 | 2,874,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 2,205,000 | 2,895,000 | 2,100,000 | ||
Interest income recognized | 2,000 | 3,000 | 0 | ||
Loans Receivable, Modifications, Still Accruing Interest | 37,000 | 39,000 | |||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 2,074,000 | 2,807,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 1,283,000 | 899,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 1,283,000 | 899,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 37,000 | 39,000 | |||
Financing Receivables, Modifications during Period, Balance | 501,000 | 39,000 | |||
Financing Receivables, Modifications during Period, Number | 1 | [1] | 1 | [1] | |
Commercial real estate | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 357,873,000 | 335,284,000 | |||
Commercial real estate | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 18,817,000 | 17,998,000 | |||
Commercial real estate | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,914,000 | 3,717,000 | |||
Commercial real estate | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Loans secured by real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 558,000 | 1,193,000 | |||
60 to 89 Days Past Due | 281,000 | 1,176,000 | |||
90 Days or More Past Due | 1,330,000 | 516,000 | |||
Total Past Due | 2,169,000 | 2,885,000 | |||
Current | 744,305,000 | 723,775,000 | |||
Total Loans Receivable | 746,474,000 | 726,660,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 1,324,000 | 1,710,000 | |||
Unpaid Principal Balance | 4,080,000 | 1,710,000 | |||
Specific Allowance | 179,000 | 377,000 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 2,869,000 | 3,834,000 | |||
Unpaid Principal Balance | 6,909,000 | 5,176,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 4,193,000 | 5,544,000 | |||
Unpaid Principal Balance | 10,989,000 | 6,886,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 4,492,000 | 5,815,000 | 5,989,000 | ||
Interest income recognized | 16,000 | 8,000 | 7,000 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 3,766,000 | 5,404,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 2,615,000 | 2,687,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 2,615,000 | 2,687,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 426,000 | 140,000 | |||
Financing Receivables, Modifications during Period, Balance | 795,000 | 574,000 | |||
Financing Receivables, Modifications during Period, Number | 7 | 7 | |||
Agricultural loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 16,000 | 122,000 | |||
60 to 89 Days Past Due | 20,000 | 49,000 | |||
90 Days or More Past Due | 0 | 0 | |||
Total Past Due | 36,000 | 171,000 | |||
Current | 68,262,000 | 63,957,000 | |||
Total Loans Receivable | 68,298,000 | 64,128,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 0 | 16,000 | 1,071,000 | ||
Interest income recognized | 0 | 1,000 | 0 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 0 | 0 | |||
Agricultural loans | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 67,619,000 | 62,439,000 | |||
Agricultural loans | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 193,000 | |||
Agricultural loans | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 679,000 | 1,496,000 | |||
Agricultural loans | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Commercial and industrial loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 228,000 | 113,000 | |||
60 to 89 Days Past Due | 10,000 | 88,000 | |||
90 Days or More Past Due | 98,000 | 62,000 | |||
Total Past Due | 336,000 | 263,000 | |||
Current | 223,444,000 | 168,090,000 | |||
Total Loans Receivable | 223,780,000 | 168,353,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 83,000 | 275,000 | |||
Unpaid Principal Balance | 181,000 | 275,000 | |||
Specific Allowance | 84,000 | 227,000 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 249,000 | 613,000 | |||
Unpaid Principal Balance | 933,000 | 946,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 332,000 | 888,000 | |||
Unpaid Principal Balance | 1,114,000 | 1,221,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 429,000 | 1,240,000 | 755,000 | ||
Interest income recognized | 0 | 10,000 | 0 | ||
Loans Receivable, Modifications, Still Accruing Interest | 182,000 | ||||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 332,000 | 706,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 236,000 | 487,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 236,000 | 487,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 0 | 182,000 | |||
Financing Receivables, Modifications during Period, Balance | 0 | 211,000 | |||
Financing Receivables, Modifications during Period, Number | 0 | [1] | 2 | [1] | |
Commercial and industrial loans | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 218,193,000 | 158,107,000 | |||
Commercial and industrial loans | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 4,647,000 | 3,515,000 | |||
Commercial and industrial loans | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 940,000 | 6,731,000 | |||
Commercial and industrial loans | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
Consumer loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 331,000 | 83,000 | |||
60 to 89 Days Past Due | 10,000 | 25,000 | |||
90 Days or More Past Due | 5,000 | 4,000 | |||
Total Past Due | 346,000 | 112,000 | |||
Current | 14,772,000 | 14,467,000 | |||
Total Loans Receivable | 15,118,000 | 14,579,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 15,000 | 37,000 | |||
Unpaid Principal Balance | 60,000 | 51,000 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 15,000 | 37,000 | |||
Unpaid Principal Balance | 60,000 | 51,000 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 25,000 | 47,000 | 56,000 | ||
Interest income recognized | 1,000 | 12,000 | 15,000 | ||
Loans Receivable, Modifications, Still Accruing Interest | 9,000 | 26,000 | |||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 7,000 | 11,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 9,000 | 26,000 | |||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Troubled Debt Restructurings Balance | 9,000 | 26,000 | |||
Financing Receivable Modifications Performing Recorded Investment | 9,000 | 26,000 | |||
Financing Receivables, Modifications during Period, Balance | 0 | 14,000 | |||
Financing Receivables, Modifications during Period, Number | 0 | [1] | 4 | [1] | |
Consumer loans | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 15,105,000 | 14,558,000 | |||
Consumer loans | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 9,000 | 0 | |||
Consumer loans | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 4,000 | 21,000 | |||
Consumer loans | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
All other loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
30 to 59 Days Past Due | 0 | 0 | |||
60 to 89 Days Past Due | 0 | 0 | |||
90 Days or More Past Due | 0 | 0 | |||
Total Past Due | 0 | 0 | |||
Current | 8,736,000 | 9,084,000 | |||
Total Loans Receivable | 8,736,000 | 9,084,000 | |||
Total Loans Greater than 90 Days Past Due and Still Accruing | 0 | 0 | |||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Specific Allowance | 0 | 0 | |||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Total Loans [Abstract] | |||||
Recorded Balance | 0 | 0 | |||
Unpaid Principal Balance | 0 | 0 | |||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 0 | 0 | 0 | ||
Interest income recognized | 0 | 0 | 0 | ||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 0 | 0 | |||
All other loans | Pass [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 8,736,000 | 9,084,000 | |||
All other loans | Watch [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
All other loans | Substandard [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | |||
All other loans | Doubtful [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | $0 | $0 | |||
[1] | Type of modifications:(a) Reduction of stated interest rate of loan(b) Change in payment terms(c) Extension of maturity date(d) Permanent reduction of the recorded investment |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses Loans and Allowance for Loan Losses - Allowance (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
alternative | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Minimum balance of adversely classified loan in which a detailed analysis is performed | $100,000 | ||||||||||
Number of alternatives for measuring impaired loans receivable | 3 | ||||||||||
Time Period Used Base For Loss Estimations | five-year | ||||||||||
Balance, beginning of year | 13,249,000 | 11,776,000 | 13,249,000 | 11,776,000 | 11,120,000 | ||||||
Provision charged to expense | 134,000 | 44,000 | 128,000 | 323,000 | 486,000 | 975,000 | 252,000 | 480,000 | 629,000 | 2,193,000 | 2,647,000 |
Losses charged off | -537,000 | -1,128,000 | -2,371,000 | ||||||||
Recoveries | 341,000 | 408,000 | 380,000 | ||||||||
Balance, end of period | 13,682,000 | 13,249,000 | 13,682,000 | 13,249,000 | 11,776,000 | ||||||
Individually evaluated for impairment | 263,000 | 604,000 | 263,000 | 604,000 | 511,000 | ||||||
Collectively evaluated for impairment | 13,419,000 | 12,645,000 | 13,419,000 | 12,645,000 | 11,265,000 | ||||||
Ending balance | 1,062,406,000 | 982,804,000 | 1,062,406,000 | 982,804,000 | 911,065,000 | ||||||
Individually evaluated for impairment | 3,301,000 | 5,145,000 | 3,301,000 | 5,145,000 | 6,564,000 | ||||||
Collectively evaluated for impairment | 1,059,105,000 | 977,659,000 | 1,059,105,000 | 977,659,000 | 904,501,000 | ||||||
Unsecured Open-end Loans [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Period When Loans Are Charged Down | 180 days | ||||||||||
Other Secured Loans [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Period When Loans Are Charged Down | 120 days | ||||||||||
Commercial/Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Balance, beginning of year | 10,646,000 | 9,301,000 | 10,646,000 | 9,301,000 | 8,791,000 | ||||||
Provision charged to expense | 192,000 | 1,861,000 | 1,979,000 | ||||||||
Losses charged off | -86,000 | -764,000 | -1,586,000 | ||||||||
Recoveries | 162,000 | 248,000 | 117,000 | ||||||||
Balance, end of period | 10,914,000 | 10,646,000 | 10,914,000 | 10,646,000 | 9,301,000 | ||||||
Individually evaluated for impairment | 263,000 | 604,000 | 263,000 | 604,000 | 457,000 | ||||||
Collectively evaluated for impairment | 10,651,000 | 10,042,000 | 10,651,000 | 10,042,000 | 8,844,000 | ||||||
Ending balance | 684,552,000 | 607,062,000 | 684,552,000 | 607,062,000 | 569,717,000 | ||||||
Individually evaluated for impairment | 3,301,000 | 5,145,000 | 3,301,000 | 5,145,000 | 5,334,000 | ||||||
Collectively evaluated for impairment | 681,251,000 | 601,917,000 | 681,251,000 | 601,917,000 | 564,383,000 | ||||||
Agriculture/Agricultural Real Estate [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Balance, beginning of year | 533,000 | 558,000 | 533,000 | 558,000 | 546,000 | ||||||
Provision charged to expense | 825,000 | -30,000 | -47,000 | ||||||||
Losses charged off | 0 | 0 | -12,000 | ||||||||
Recoveries | 2,000 | 5,000 | 71,000 | ||||||||
Balance, end of period | 1,360,000 | 533,000 | 1,360,000 | 533,000 | 558,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 54,000 | ||||||
Collectively evaluated for impairment | 1,360,000 | 533,000 | 1,360,000 | 533,000 | 504,000 | ||||||
Ending balance | 178,091,000 | 172,979,000 | 178,091,000 | 172,979,000 | 145,695,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 1,230,000 | ||||||
Collectively evaluated for impairment | 178,091,000 | 172,979,000 | 178,091,000 | 172,979,000 | 144,465,000 | ||||||
Residential Real Estate [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Balance, beginning of year | 771,000 | 726,000 | 771,000 | 726,000 | 636,000 | ||||||
Provision charged to expense | 135,000 | 171,000 | 580,000 | ||||||||
Losses charged off | -140,000 | -141,000 | -524,000 | ||||||||
Recoveries | 24,000 | 15,000 | 34,000 | ||||||||
Balance, end of period | 790,000 | 771,000 | 790,000 | 771,000 | 726,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | 790,000 | 771,000 | 790,000 | 771,000 | 726,000 | ||||||
Ending balance | 184,661,000 | 187,796,000 | 184,661,000 | 187,796,000 | 179,309,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | 184,661,000 | 187,796,000 | 184,661,000 | 187,796,000 | 179,309,000 | ||||||
1-4 Family residential properties | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Period When Loans Are Charged Down | 180 days | ||||||||||
Consumer loans | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Balance, beginning of year | 377,000 | 403,000 | 377,000 | 403,000 | 378,000 | ||||||
Provision charged to expense | 167,000 | 57,000 | 116,000 | ||||||||
Losses charged off | -311,000 | -223,000 | -249,000 | ||||||||
Recoveries | 153,000 | 140,000 | 158,000 | ||||||||
Balance, end of period | 386,000 | 377,000 | 386,000 | 377,000 | 403,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | 386,000 | 377,000 | 386,000 | 377,000 | 403,000 | ||||||
Ending balance | 15,102,000 | 14,967,000 | 15,102,000 | 14,967,000 | 16,066,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | 15,102,000 | 14,967,000 | 15,102,000 | 14,967,000 | 16,066,000 | ||||||
Unallocated [Member] | |||||||||||
Financing Receivable, Impaired [Line Items] | |||||||||||
Balance, beginning of year | 922,000 | 788,000 | 922,000 | 788,000 | 769,000 | ||||||
Provision charged to expense | -690,000 | 134,000 | 19,000 | ||||||||
Losses charged off | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Balance, end of period | 232,000 | 922,000 | 232,000 | 922,000 | 788,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | 232,000 | 922,000 | 232,000 | 922,000 | 788,000 | ||||||
Ending balance | 0 | 0 | 0 | 0 | 278,000 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | ||||||
Collectively evaluated for impairment | $0 | $0 | $0 | $0 | $278,000 |
Premises_and_Equipment_Net_Det
Premises and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $54,165,000 | $54,729,000 | |
Accumulated depreciation and amortization | 26,813,000 | 26,151,000 | |
Total | 27,352,000 | 28,578,000 | |
Depreciation Expense | 2,400,000 | 2,490,000 | 2,530,000 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 5,966,000 | 5,966,000 | |
Buildings and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 29,617,000 | 28,962,000 | |
Furniture and equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 15,936,000 | 16,601,000 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 2,646,000 | 3,138,000 | |
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $0 | $62,000 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Gross Carrying Value [Abstract] | |||||
Goodwill not subject to amortization | $29,513 | $29,513 | $29,513 | $29,513 | |
Intangibles from branch acquisition | 3,015 | 3,015 | |||
Core deposit intangibles | 8,986 | 8,986 | 8,986 | 8,986 | |
Customer list intangibles | 1,904 | 1,904 | 1,904 | 1,904 | |
Total Goodwill and Intangible Assets, Gross Carrying Value | 43,418 | 43,418 | 43,418 | 43,418 | |
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | |||||
Goodwill not subject to amortization (effective 1/1/02), Accumulated Amortization | 3,760 | 3,760 | 3,760 | 3,760 | |
Total Goodwill and Intangible Assets, Accumulated Amortization | 15,821 | 15,178 | 15,821 | 15,178 | |
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | 643 | 674 | 773 | ||
Estimated amortization expense [Abstract] | |||||
For period ended 12/31/15 | 616 | 616 | |||
For period ended 12/31/16 | 381 | 381 | |||
For period ended 12/31/17 | 254 | 254 | |||
For period ended 12/31/18 | 232 | 232 | |||
For period ended 12/31/19 | 213 | 213 | |||
Intangibles from branch acquisitions | |||||
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | |||||
Intangible Assets, Accumulated Amortization | 3,015 | 3,015 | 3,015 | 3,015 | |
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | 0 | 0 | 50 | ||
Core deposit intangibles | |||||
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | |||||
Intangible Assets, Accumulated Amortization | 7,142 | 6,499 | 7,142 | 6,499 | |
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | 643 | 674 | 706 | ||
Customer list intangibles | |||||
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | |||||
Intangible Assets, Accumulated Amortization | 1,904 | 1,904 | 1,904 | 1,904 | |
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | $0 | $0 | $17 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Deposits [Abstract] | ||
Number of public entities with large balances | 5 | |
Total of Public entitiy balances | $46,700,000 | |
Maturities of Time Deposits [Abstract] | ||
Less than 1 year | 152,490,000 | |
1 year to 2 years | 33,173,000 | |
2 years to 3 years | 13,962,000 | |
3 years to 4 years | 10,812,000 | |
4 years to 5 years | 7,694,000 | |
Over 5 years | 146,000 | |
Total | 218,277,000 | |
Deposits, by Type [Abstract] | ||
Noninterest-bearing Deposit Liabilities | 222,116,000 | 235,448,000 |
Interest-bearing Domestic Deposit, Demand | 306,631,000 | 291,035,000 |
Interest-bearing Domestic Deposit, Savings | 273,958,000 | 279,227,000 |
Interest-bearing Domestic Deposit, Money Market | 251,095,000 | 253,255,000 |
Interest-bearing Domestic Deposit, Time Deposits | 218,277,000 | 228,651,000 |
Total deposits | $1,272,077,000 | $1,287,616,000 |
Deposits_Deposit_Interest_Comp
Deposits Deposit Interest Components (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Banking and Thrift, Interest [Abstract] | |||
Interest-bearing demand | $101 | $102 | $195 |
Savings | 375 | 452 | 1,186 |
Money market | 588 | 693 | 1,248 |
Time deposits | 1,287 | 1,456 | 2,214 |
Total | 2,351 | 2,703 | 4,843 |
Outstanding | 98,445 | 96,715 | 62,563 |
Interest expense for the year | $598 | $546 | $826 |
Debt_Details
Debt (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Advances from Federal Home Loan Banks | $20,000 | $20,000 |
Securities Sold Under Agreements to Repurchase Weighted Average Rate | 0.05% | |
Minimum amount pledeged per agreements | 133.00% | |
Balance of FHLB Letters of Credit held | 0 | |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 5,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 5,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 30,620 | |
Long-term Debt | 40,620 | |
FHLB Advance, 2-Year Maturity [Member] | ||
Debt Instrument [Line Items] | ||
Advances from Federal Home Loan Banks | 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 2-year | |
Federal Home Loan Bank Advances Interest Rate | 0.57% | |
FHLB advance, 10-Year Maturity [Member] | ||
Debt Instrument [Line Items] | ||
Advances from Federal Home Loan Banks | 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 10-year | |
Federal Home Loan Bank Advances Interest Rate | 4.58% | |
FHLB advance, 6-Year Maturity [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Advances from Federal Home Loan Banks | 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 6-year | |
Federal Home Loan Bank Advances Interest Rate | 2.30% | |
FHLB Advance, 7 Year Maturity [Member] | ||
Debt Instrument [Line Items] | ||
Advances from Federal Home Loan Banks | $5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 7-year | |
Federal Home Loan Bank Advances Interest Rate | 2.55% |
Borrowings_Securities_Sold_und
Borrowings Securities Sold under Agreements to Repurchase (Details) (Securities Sold under Agreements to Repurchase [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Securities Sold under Agreements to Repurchase [Member] | |||
Short-term Debt [Line Items] | |||
Maximum outstanding at any month-end | $121,869 | $119,187 | $118,030 |
Average amount outstanding for the year | $97,478 | $87,468 | $113,443 |
Borrowings_Schedule_of_Borrowi
Borrowings Schedule of Borrowings (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of Borrowings [Line Items] | ||
Advances from Federal Home Loan Banks | $20,000,000 | $20,000,000 |
Junior subordinated debentures | 20,620,000 | 20,620,000 |
Short Term and Long Term Borrowings | 162,489,000 | 159,807,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Schedule of Borrowings [Line Items] | ||
Short-term Debt | $121,869,000 | $119,187,000 |
Borrowings_Line_of_Credit_Deta
Borrowings Line of Credit (Details) (Revolving Credit Facility [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Revolving Credit Facility [Member] | |
Line of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $15 |
Line of Credit Facility, Interest Rate at Period End | 2.50% |
Line of Credit Facility, Interest Rate Spread | 2.25% |
Borrowings_Subordinated_Debent
Borrowings Subordinated Debentures (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Feb. 27, 2004 | Apr. 26, 2006 | |
Debt Instrument [Line Items] | ||||
Junior subordinated debentures | 20,620,000 | $20,620,000 | ||
FMIS Trust I [Member] | ||||
Debt Instrument [Line Items] | ||||
Trust preferred securities issued | 10,000,000 | |||
Investment in Statutory Trust | 310,000 | |||
Junior subordinated debentures | 10,310,000 | |||
FMIS Trust II [Member] | ||||
Debt Instrument [Line Items] | ||||
Trust preferred securities issued | 10,000,000 | |||
Investment in Statutory Trust | 310,000 | |||
Junior subordinated debentures | 10,310,000 | |||
Junior Subordinated Debt [Member] | FMIS Trust I [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate Terms | three-month London Interbank Offered Rate (“LIBORâ€) plus 280 basis points | |||
Debt Instrument, Interest Rate at Period End | 3.08% | 3.09% | ||
Junior Subordinated Debt [Member] | FMIS Trust II [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate Terms | bore interest at a fixed rate of 6.98% paid quarterly until June 15, 2011 and then converted to floating rate (LIBOR plus 160 basis points) after June 15, 2011 | |||
Debt Instrument, Interest Rate at Period End | 1.84% | 1.84% |
Regulatory_Capital_Details
Regulatory Capital (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital ($) | $180,678 | $170,344 |
Capital to RWA (%) | 15.60% | 15.58% |
Capital Required for Capital Adequacy ($) | 92,675 | 87,472 |
Capital Required for Capital Adequacy to RWA (%) | 8.00% | 8.00% |
Tier One Risk Based Capital ($) | 166,996 | 157,095 |
Tier One Risk Based Capital to RWA (%) | 14.42% | 14.37% |
Tier One Risk Based Capital Required for Capital Adequacy ($) | 46,338 | 43,736 |
Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) | 4.00% | 4.00% |
Tier One Leverage Capital to Average Assets (%) | 10.52% | 10.12% |
Tier One Leverage Capital Required for Capital Adequacy ($) | 63,493 | 62,069 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) | 4.00% | 4.00% |
Subsidiaries [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital ($) | 172,991 | 161,650 |
Capital to RWA (%) | 15.02% | 14.89% |
Capital Required for Capital Adequacy ($) | 92,110 | 86,830 |
Capital Required for Capital Adequacy to RWA (%) | 8.00% | 8.00% |
Capital Required to be Well Capitalized ($) | 115,137 | 108,538 |
Capital Required to be Well Capitalized to RWA (%) | 10.00% | 10.00% |
Tier One Risk Based Capital ($) | 159,309 | 148,401 |
Tier One Risk Based Capital to RWA (%) | 13.84% | 13.67% |
Tier One Risk Based Capital Required for Capital Adequacy ($) | 46,055 | 43,415 |
Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) | 4.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized ($) | 69,082 | 65,123 |
Tier One Risk Based Capital Required to be Well Capitalized to RWA (%) | 6.00% | 6.00% |
Tier One Leverage Capital to Average Assets (%) | 10.08% | 9.62% |
Tier One Leverage Capital Required for Capital Adequacy ($) | 63,210 | 61,737 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) | 4.00% | 4.00% |
Tier One Leverage Capital Required to be Well Capitalized ($) | $79,012 | $77,171 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets (%) | 5.00% | 5.00% |
Regulatory_Capital_Details_2_D
Regulatory Capital Details 2 (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Regulatory Capital Requirements [Abstract] | |
Description of Regulatory Requirements, Capital Adequacy Purposes | Quantitative measures established by each regulatory agency to ensure capital adequacy require the reporting institutions to maintain a minimum total risk-based capital ratio of 8%, a minimum Tier 1 risk-based capital ratio of 4% and a minimum leverage ratio of 3% for the most highly rated banks that do not expect significant growth.  All other institutions are required to maintain a minimum leverage ratio of 4%. |
Disclosures_of_Fair_Values_of_2
Disclosures of Fair Values of Financial Instruments (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | $377,856,000 | $488,724,000 |
Impaired Loans Receivable [Abstract] | ||
Carrying amount of loans with a specific allowance | 1,987,000 | |
Fair value of loans with a specific allowance | 1,383,000 | |
Specific Allowance | 604,000 | |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 377,856,000 | 488,724,000 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 55,000 | 67,000 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 377,437,000 | 488,466,000 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 364,000 | 191,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired Loans Receivable [Abstract] | ||
Carrying amount of loans with a specific allowance | 1,576,000 | |
Fair value of loans with a specific allowance | 1,313,000 | |
Specific Allowance | 263,000 | |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 99,957,000 | 190,368,000 |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 99,957,000 | 190,368,000 |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 99,957,000 | 190,368,000 |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Obligations of states and political subdivisions | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 78,084,000 | 64,562,000 |
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 78,084,000 | 64,562,000 |
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 78,084,000 | 64,562,000 |
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Mortgage-backed securities | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 195,401,000 | 227,601,000 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 191,000 | |
Transfers into Level 3 | 0 | |
Transfers out of Level 3 | 0 | |
Total gains or losses [Abstract] | ||
Included in net income | 0 | |
Included in other comprehensive income (loss) | 525,000 | |
Purchases, issuances, sales and settlements [Abstract] | ||
Purchases | 0 | |
Issuances | 0 | |
Sales | 0 | |
Settlements | -352,000 | |
Ending balance | 364,000 | |
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | 0 | |
Mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 195,401,000 | 227,601,000 |
Mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 195,401,000 | 227,601,000 |
Mortgage-backed securities | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Trust preferred securities | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 364,000 | 191,000 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 585,000 | |
Transfers into Level 3 | 0 | |
Transfers out of Level 3 | 0 | |
Total gains or losses [Abstract] | ||
Included in net income | 0 | |
Included in other comprehensive income (loss) | 928,000 | |
Purchases, issuances, sales and settlements [Abstract] | ||
Purchases | 0 | |
Issuances | 0 | |
Sales | -1,138,000 | |
Settlements | -184,000 | |
Ending balance | 191,000 | |
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | 0 | |
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 364,000 | 191,000 |
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 0 | 0 |
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 364,000 | 191,000 |
Other securities | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 4,050,000 | 6,002,000 |
Other securities | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 4,050,000 | 6,002,000 |
Other securities | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 55,000 | 67,000 |
Other securities | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | 3,995,000 | 5,935,000 |
Other securities | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | ||
Available-for-sale: [Abstract] | ||
Total available-for-sale securities | $0 | $0 |
Disclosures_of_Fair_Values_of_3
Disclosures of Fair Values of Financial Instruments, Part II (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | |||
Foreclosed Assets Held for Sale [Abstract] | ||||
Other real estate owned | 263,000 | 568,000 | ||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Assets, Fair Value Disclosure, Recurring | 364,000 | 191,000 | ||
Financial Assets [Abstract] | ||||
Available-for-sale securities | 377,856,000 | 488,724,000 | ||
Held-to-maturity Securities | 53,937,000 | 0 | ||
Carrying Amount | ||||
Financial Assets [Abstract] | ||||
Cash and due from banks | 51,236,000 | 64,605,000 | ||
Federal funds sold | 494,000 | 497,000 | ||
Available-for-sale securities | 377,856,000 | 488,724,000 | ||
Held-to-maturity Securities | 53,650,000 | |||
Loans held for sale | 1,958,000 | 514,000 | ||
Loans net of allowance for loan losses | 1,046,766,000 | 969,041,000 | ||
Interest receivable | 6,828,000 | 6,614,000 | ||
Federal Reserve Bank stock | 1,522,000 | 1,522,000 | ||
Federal Home Loan Bank stock | 3,391,000 | 3,391,000 | ||
Deposits | 1,272,077,000 | 1,287,616,000 | ||
Securities sold under agreements to repurchase | 121,869,000 | 119,187,000 | ||
Interest payable | 285,000 | 277,000 | ||
Federal Home Loan Bank borrowings | 20,000,000 | 20,000,000 | ||
Junior subordinated debentures | 20,620,000 | 20,620,000 | ||
Fair Value | ||||
Financial Assets [Abstract] | ||||
Cash and due from banks | 51,236,000 | 64,605,000 | ||
Federal funds sold | 494,000 | 497,000 | ||
Available-for-sale securities | 377,856,000 | 488,724,000 | ||
Held-to-maturity Securities | 53,937,000 | |||
Loans held for sale | 1,958,000 | 514,000 | ||
Loans net of allowance for loan losses | 1,051,110,000 | 964,253,000 | ||
Interest receivable | 6,828,000 | 6,614,000 | ||
Federal Reserve Bank stock | 1,522,000 | 1,522,000 | ||
Federal Home Loan Bank stock | 3,391,000 | 3,391,000 | ||
Deposits | 1,272,358,000 | 1,287,887,000 | ||
Securities sold under agreements to repurchase | 121,870,000 | 119,190,000 | ||
Interest payable | 285,000 | 277,000 | ||
Federal Home Loan Bank borrowings | 20,541,000 | 20,530,000 | ||
Junior subordinated debentures | 12,528,000 | 12,041,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Carrying Amount | ||||
Foreclosed Assets Held for Sale [Abstract] | ||||
Other real estate owned | 263,000 | 568,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value | ||||
Foreclosed Assets Held for Sale [Abstract] | ||||
Other real estate owned | 0 | 172,000 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and due from banks | 51,236,000 | 64,605,000 | ||
Federal funds sold | 494,000 | 497,000 | ||
Available-for-sale securities | 55,000 | 67,000 | ||
Held-to-maturity Securities | 0 | |||
Loans held for sale | 0 | 0 | ||
Loans net of allowance for loan losses | 0 | 0 | ||
Interest receivable | 0 | 0 | ||
Federal Reserve Bank stock | 0 | 0 | ||
Federal Home Loan Bank stock | 0 | 0 | ||
Deposits | 0 | 0 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Interest payable | 0 | 0 | ||
Federal Home Loan Bank borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and due from banks | 0 | 0 | ||
Federal funds sold | 0 | 0 | ||
Available-for-sale securities | 377,437,000 | 488,466,000 | ||
Held-to-maturity Securities | 53,937,000 | |||
Loans held for sale | 1,958,000 | 514,000 | ||
Loans net of allowance for loan losses | 0 | 0 | ||
Interest receivable | 6,828,000 | 6,614,000 | ||
Federal Reserve Bank stock | 1,522,000 | 1,522,000 | ||
Federal Home Loan Bank stock | 3,391,000 | 3,391,000 | ||
Deposits | 1,053,800,000 | 1,058,965,000 | ||
Securities sold under agreements to repurchase | 121,870,000 | 119,190,000 | ||
Interest payable | 285,000 | 277,000 | ||
Federal Home Loan Bank borrowings | 20,541,000 | 20,530,000 | ||
Junior subordinated debentures | 12,528,000 | 12,041,000 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets [Abstract] | ||||
Cash and due from banks | 0 | 0 | ||
Federal funds sold | 0 | 0 | ||
Available-for-sale securities | 364,000 | 191,000 | ||
Held-to-maturity Securities | 0 | |||
Loans held for sale | 0 | 0 | ||
Loans net of allowance for loan losses | 1,051,110,000 | 964,253,000 | ||
Interest receivable | 0 | 0 | ||
Federal Reserve Bank stock | 0 | 0 | ||
Federal Home Loan Bank stock | 0 | 0 | ||
Deposits | 218,558,000 | 228,922,000 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Interest payable | 0 | 0 | ||
Federal Home Loan Bank borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Trust preferred securities | Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Constant prepayment rate (in hundredths) | 1.30% | [1] | 1.30% | [1] |
Trust preferred securities | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount rate (in hundredths) | 11.60% | 15.50% | ||
Cumulative projected prepayments (in hundredths) | 24.40% | 23.50% | ||
Probability of default (in hundredths) | 0.10% | 0.20% | ||
Projected cures given deferral (in hundredths) | 100.00% | 50.70% | ||
Loss severity | 97.40% | 96.10% | ||
Trust preferred securities | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount rate (in hundredths) | ||||
Cumulative projected prepayments (in hundredths) | ||||
Probability of default (in hundredths) | ||||
Projected cures given deferral (in hundredths) | ||||
Loss severity | ||||
Trust preferred securities | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount rate (in hundredths) | ||||
Cumulative projected prepayments (in hundredths) | ||||
Probability of default (in hundredths) | ||||
Projected cures given deferral (in hundredths) | ||||
Loss severity | ||||
Impaired loans (collateral dependent) | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 1,313,000 | 1,383,000 | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value (in hundredths) | 0.00% | 0.00% | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value (in hundredths) | 40.00% | 40.00% | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value (in hundredths) | 20.00% | 20.00% | ||
Impaired loans (collateral dependent) | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 1,313,000 | 1,383,000 | ||
Foreclosed assets held for sale | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 172,000 | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 0.00% | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 40.00% | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member] | Third Party Valuations [Member] | ||||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | ||||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 35.00% | |||
Foreclosed assets held for sale | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Assets, Fair Value Disclosure, Nonrecurring | 172,000 | |||
[1] | Every five years |
Deferred_Compensation_Plan_Det
Deferred Compensation Plan (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Deferred Compensation Arrangement with Individual, Recorded Liability | $3,539,000 | |
Shares, Issued | 13,724 | 12,700 |
Stock_Incentive_Plan_Details
Stock Incentive Plan (Details) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2008 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 10-year | |||
Options, Grants in Period, Gross | 0 | 0 | 0 | |
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 | |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options, Grants in Period, Gross | 59,500 | |||
Stock Unit Awards and Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of Awards Issued | 50.00% | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of Awards Issued | 50.00% | |||
Percentage of Awards Issued to Retirement Eligible | 100.00% |
Stock_Incentive_Plan_Compensat
Stock Incentive Plan Compensation Cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $376 | $339 | $227 |
Income Tax Expense (Benefit) | -132 | -118 | -79 |
Allocated Share-based Compensation Expense, Net of Tax | 244 | 221 | 148 |
Stock Unit Awards and Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 376 | 339 | 210 |
Income Tax Expense (Benefit) | -132 | -118 | -73 |
Allocated Share-based Compensation Expense, Net of Tax | 244 | 221 | 137 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | 0 | 0 | 17 |
Income Tax Expense (Benefit) | 0 | 0 | -6 |
Allocated Share-based Compensation Expense, Net of Tax | $0 | $0 | $11 |
Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of Awards Issued | 50.00% | ||
Stock Unit Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of Awards Issued | 50.00% |
Stock_Incentive_Plan_Summary_o
Stock Incentive Plan Summary of Stock Option Activity (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Outstanding, beginning of year | 128,750 | 176,625 | 228,140 |
Granted | 0 | 0 | 0 |
Exercised | 0 | -39,373 | -44,763 |
Forfeited or expired | 76,750 | 8,502 | 6,752 |
Outstanding, end of year | 52,000 | 128,750 | 176,625 |
Options, Exercisable, Number | 52,000 | 128,750 | 170,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Outstanding Options, Weighted Average Exercise Price, Beginning of Year | $26.20 | $24.88 | $23.09 |
Options, Grants in Period, Weighted Average Exercise Price | $0 | $0 | $0 |
Options, Exercises in Period, Weighted Average Exercise Price | $0 | $20.67 | $15.90 |
Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $27.25 | $24.34 | $24 |
Outstanding Options, Weighted Average Exercise Price, End of Year | $24.64 | $26.20 | $24.88 |
Options, Exercisable, Weighted Average Exercise Price | $24.64 | $26.20 | $24.95 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 157 days | 2 years 153 days | 2 years 296 days |
Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 157 days | 2 years 153 days | 2 years 252 days |
Options, Outstanding, Intrinsic Value | $0 | $0 | $89,061 |
Options, Exercisable, Intrinsic Value | 0 | 0 | 89,061 |
Options, Exercises in Period, Total Intrinsic Value | $75,000 | $332,000 | |
Antidilutive Outstanding and Exercisable option shares | 52,000 | ||
Antidilutive Outstanding option shares | 128,750 | ||
Antidilutive Exercisable option shares | 108,125 |
Stock_Incentive_Plan_Summary_o1
Stock Incentive Plan Summary of Unvested Options (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options, Nonvested, Number | 0 | 6,625 | 20,875 | |
Options, Nonvested, Weighted Average Grant Date Fair Value | $0 | $2.51 | $3.16 | |
Options, Vested in Period, Number | -6,375 | -14,250 | ||
Options, Vested in Period, Weighted Average Grant Date Fair Value | $3.47 | $3.47 | ||
Options, Vested In Period, Fair Value | $0 | $17,000 | $49,000 | |
Options, Forfeited In Period, Number | -250 | |||
Options, Forfeited in Period, Weighted Average Grant Date Fair Value | $3.68 |
Stock_Incentive_Plan_Summary_o2
Stock Incentive Plan Summary of Options by Range of Exercise Price (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Number Outstanding | 52,000 | |||
Weighted-Average Remaining Contractual Life | 3 years 157 days | |||
Weighted-Average Exercise Price | $24.64 | $26.20 | $24.88 | $23.09 |
Number Exercisable | 52,000 | |||
Weighted-Average Exercise Price | $24.64 | |||
$22.50 to $24.50 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Number Outstanding | 24,500 | |||
Weighted-Average Remaining Contractual Life | 3 years 350 days | |||
Weighted-Average Exercise Price | $23 | |||
Number Exercisable | 24,500 | |||
Weighted-Average Exercise Price | $23 | |||
$24.50 to $26.50 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Number Outstanding | 27,500 | |||
Weighted-Average Remaining Contractual Life | 2 years 347 days | |||
Weighted-Average Exercise Price | $26.10 | |||
Number Exercisable | 27,500 | |||
Weighted-Average Exercise Price | $26.10 |
Stock_Incentive_Plan_Summary_o3
Stock Incentive Plan Summary of Unvested Stock and Stock Units (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Other than Options, Nonvested, Number | 26,897 | 24,799 | 25,337 | 15,096 |
Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $22.95 | $24.16 | $22.16 | $18.70 |
RSA/RSU, Grants in Period, Gross | 19,377 | 14,054 | 15,162 | |
Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $22 | $23.46 | $25.50 | |
Other than Options, Vested in Period | -14,499 | -14,592 | -4,179 | |
Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $23.72 | $20.01 | $21.84 | |
Other than Options, Forfeited in Period | -2,780 | 0 | -742 | |
Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $23.12 | $0 | $21.87 | |
Other than Options, Vested in Period, Total Fair Value | $343,910 | $329,721 | $91,259 | |
Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $435,000 | $470,000 | $400,000 | |
Discounted Cash Flow [Member] | Weighted Average [Member] | Significant Unobservable Inputs (Level 3) | Trust preferred securities | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Loss severity |
Retirement_Plans_SERP_Details
Retirement Plans SERP (Details) (Supplemental Employee Retirement Plans, Defined Benefit [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Supplemental Employee Retirement Plans, Defined Benefit [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Annual Benefit Amount | $50,000 | ||
Year of Benefit | 20 years | ||
Number of Employees Covered by Plan | 2 | ||
Expense for Period | 15,000 | 17,000 | 35,000 |
Pension and Other Postretirement Defined Benefit Plans, Liabilities | $785,000 | $871,000 |
Retirement_Plans_Employee_Reti
Retirement Plans Employee Retirement Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Contribution Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 4.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent | 50% of the first 4% | ||
Defined Contribution Plan, Cost Recognized | $1,089,000 | $1,029,000 | $1,070,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||||||||||
Federal | $6,956 | $5,899 | $6,247 | ||||||||
State | 2,287 | 1,976 | 1,933 | ||||||||
Total Current | 9,243 | 7,875 | 8,180 | ||||||||
Federal | -17 | 750 | 219 | ||||||||
State | 28 | 221 | 11 | ||||||||
Total Deferred | 11 | 971 | 230 | ||||||||
Total | $2,330 | $2,355 | $2,431 | $2,138 | $2,140 | $2,352 | $2,220 | $2,134 | $9,254 | $8,846 | $8,410 |
Income_Taxes_Income_Tax_Reconc
Income Taxes Income Tax Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Effective Income Tax Rate [Line Items] | |||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | ||||||||||
Expected income taxes | $8,650 | $8,249 | $7,852 | ||||||||
Tax-exempt income | -954 | -877 | -761 | ||||||||
Nondeductible interest expense | 10 | 9 | 14 | ||||||||
State taxes, net of federal taxes | 1,505 | 1,429 | 1,264 | ||||||||
Other items | 43 | 36 | 41 | ||||||||
Total | $2,330 | $2,355 | $2,431 | $2,138 | $2,140 | $2,352 | $2,220 | $2,134 | $9,254 | $8,846 | $8,410 |
Income_Taxes_Temporary_Differe
Income Taxes Temporary Differences (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ||
Allowance for loan losses | $5,522 | $5,348 |
Available-for-sale investment securities | 559 | 5,353 |
Deferred compensation | 1,108 | 1,070 |
Supplemental retirement | 317 | 351 |
Core deposit premium and other intangible assets | 341 | 255 |
Interest on non-accrual loans | 35 | 31 |
Other-than-temporary impairment on securities | 449 | 449 |
Other | 412 | 407 |
Total gross deferred tax assets | 8,743 | 13,264 |
Deferred loan costs | 110 | 110 |
Goodwill | 3,441 | 3,004 |
Prepaid expenses | 296 | 258 |
FHLB stock dividend | 285 | 285 |
Depreciation | 600 | 731 |
Purchase accounting | 0 | 66 |
Accumulated accretion | 39 | 33 |
Total gross deferred tax liabilities | 4,771 | 4,487 |
Net deferred tax assets | $3,972 | $8,777 |
Dividend_Restrictions_Details
Dividend Restrictions (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Divididends Restrictions [Abstract] | |
Amount Available for Dividend Distribution without Prior Approval from Regulatory Agency | $37.90 |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commercial real estate | $32,927 | $23,770 |
Commercial operating | 133,884 | 139,395 |
Home equity | 23,285 | 24,071 |
Other | 47,498 | 52,251 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset | 237,594 | 239,487 |
Number of expected days to fund commitments | ninety days | |
Financial Standby Letter of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset | $5,193 | $4,732 |
Period when letters of credit expire | one year or less |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ||
Beginning balance | $24,539,000 | $21,638,000 |
New loans | 11,154,000 | 9,380,000 |
Loan repayments | -3,643,000 | -6,479,000 |
Ending balance | 32,050,000 | 24,539,000 |
Related Party Deposit Liabilities | $92,973,000 | $49,435,000 |
Business_Combinations_Estimate
Business Combinations Estimated Fair Values Of Assets Acquired And Liabilities Assumed (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Goodwill | $25,753 | $25,753 |
Leases_Details
Leases (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $1,041 |
Operating Leases, Future Minimum Payments, Due in Two Years | 695 |
Operating Leases, Future Minimum Payments, Due in Three Years | 694 |
Operating Leases, Future Minimum Payments, Due in Four Years | 619 |
Operating Leases, Future Minimum Payments, Due in Four and Five Years [Abstract] | 619 |
Operating Leases, Future Minimum Payments, Due Thereafter | 674 |
Operating Leases, Future Minimum Payments Due | $4,342 |
Leases_Lease_Terms_Details_Det
Leases Lease Terms Details (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Leased Assets [Line Items] | |||
Operating Leases, Rent Expense, Net | $1,240,000 | $1,297,000 | $1,293,000 |
Minimum [Member] | |||
Operating Leased Assets [Line Items] | |||
Term of Lease | one year | ||
Renewal Term of Lease | one year | ||
Maximum [Member] | |||
Operating Leased Assets [Line Items] | |||
Term of Lease | fifteen years | ||
Renewal Term of Lease | five years |
Parent_Company_Only_Financial_2
Parent Company Only Financial Statements Condensed balance sheets (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ||||
Premises and equipment, net | $27,352,000 | $28,578,000 | ||
Other assets | 13,103,000 | 18,117,000 | ||
Total assets | 1,607,103,000 | 1,605,498,000 | ||
Dividends payable | 530,000 | 1,140,000 | ||
Junior subordinated debentures | 20,620,000 | 20,620,000 | ||
Other liabilities | 6,806,000 | 7,277,000 | ||
Total liabilities | 1,442,187,000 | 1,456,117,000 | ||
Stockholders’ equity | 164,916,000 | 149,381,000 | 156,687,000 | 140,967,000 |
Total liabilities and stockholders’ equity | 1,607,103,000 | 1,605,498,000 | ||
Parent Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash | 1,729,000 | 2,645,000 | ||
Premises and equipment, net | 2,789,000 | 2,935,000 | ||
Investment in subsidiaries | 180,774,000 | 164,311,000 | ||
Other assets | 2,248,000 | 2,584,000 | ||
Total assets | 187,540,000 | 172,475,000 | ||
Dividends payable | 550,000 | 1,104,000 | ||
Junior subordinated debentures | 20,620,000 | 20,620,000 | ||
Other liabilities | 1,454,000 | 1,370,000 | ||
Total liabilities | 22,624,000 | 23,094,000 | ||
Stockholders’ equity | 164,916,000 | 149,381,000 | ||
Total liabilities and stockholders’ equity | $187,540,000 | $172,475,000 |
Parent_Company_Only_Financial_3
Parent Company Only Financial Statements Condensed statements of income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Income before income taxes | $6,240 | $6,270 | $6,460 | $5,745 | $5,759 | $6,262 | $5,885 | $5,662 | $24,715 | $23,568 | $22,435 |
Income tax benefit | -2,330 | -2,355 | -2,431 | -2,138 | -2,140 | -2,352 | -2,220 | -2,134 | -9,254 | -8,846 | -8,410 |
Net income | 3,910 | 3,915 | 4,029 | 3,607 | 3,619 | 3,910 | 3,665 | 3,528 | 15,461 | 14,722 | 14,025 |
Other comprehensive income (loss), net of taxes | 7,505 | -12,924 | 1,396 | ||||||||
Comprehensive income | 22,966 | 1,798 | 15,421 | ||||||||
Parent Company [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Dividends from subsidiaries | 7,900 | 1,438 | 1,438 | ||||||||
Other income | 65 | 64 | 64 | ||||||||
Total income | 7,965 | 1,502 | 1,502 | ||||||||
Operating expenses | 2,425 | 2,233 | 2,519 | ||||||||
Income before income taxes | 5,540 | -731 | -1,017 | ||||||||
Income tax benefit | 948 | 876 | 990 | ||||||||
Income (loss) before equity in undistributed earnings of subsidiaries | 6,488 | 145 | -27 | ||||||||
Equity in undistributed earnings of subsidiaries | 8,973 | 14,577 | 14,052 | ||||||||
Net income | 15,461 | 14,722 | 14,025 | ||||||||
Other comprehensive income (loss), net of taxes | 7,505 | -12,924 | 1,396 | ||||||||
Comprehensive income | $22,966 | $1,798 | $15,421 |
Parent_Company_Only_Financial_4
Parent Company Only Financial Statements Condensed statements of cash flows (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $15,461,000 | $14,722,000 | $14,025,000 |
Depreciation, amortization and accretion, net | 3,960,000 | 4,661,000 | 5,403,000 |
Increase in other assets | 306,000 | 3,805,000 | -912,000 |
Increase (decrease) in other liabilities | -724,000 | 401,000 | 1,087,000 |
Net cash provided by operating activities | 17,777,000 | 24,662,000 | 22,889,000 |
Repayment of short-term debt | -1,000,000 | 0 | -8,250,000 |
Proceeds from short-term debt | 1,000,000 | 0 | 0 |
Conversion of preferred stock | -24,635,000 | 0 | 0 |
Proceeds from issuance of preferred stock | 0 | 0 | 8,250,000 |
Proceeds from issuance of common stock | 25,123,000 | 1,303,000 | 1,255,000 |
Purchase of treasury stock | -1,763,000 | -4,619,000 | -3,912,000 |
Dividends paid on preferred stock | -4,339,000 | -4,050,000 | -3,788,000 |
Dividends paid on common stock | -2,648,000 | -2,014,000 | -2,843,000 |
Net cash provided by (used in) financing activities | -21,119,000 | 24,874,000 | 60,397,000 |
Decrease in cash | -13,372,000 | -17,610,000 | 9,610,000 |
Cash and cash equivalents at beginning of period | 65,102,000 | 82,712,000 | |
Cash and cash equivalents at end of period | 51,730,000 | 65,102,000 | 82,712,000 |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 15,461,000 | 14,722,000 | 14,025,000 |
Depreciation, amortization and accretion, net | 110,000 | 116,000 | 114,000 |
Dividends from subsidiaries | 7,900,000 | 1,438,000 | 1,438,000 |
Equity in undistributed earnings of subsidiaries | -8,973,000 | -14,577,000 | -14,052,000 |
Increase in other assets | -7,412,000 | -1,512,000 | -1,436,000 |
Increase (decrease) in other liabilities | 260,000 | 180,000 | 319,000 |
Net cash provided by operating activities | 7,346,000 | 367,000 | 408,000 |
Repayment of short-term debt | 0 | 0 | -8,250,000 |
Conversion of preferred stock | -24,635,000 | ||
Proceeds from issuance of preferred stock | 0 | 0 | 8,250,000 |
Proceeds from issuance of common stock | 25,123,000 | 1,303,000 | 1,255,000 |
Purchase of treasury stock | -1,763,000 | -4,619,000 | -3,912,000 |
Dividends paid on preferred stock | -4,339,000 | -4,050,000 | -3,788,000 |
Dividends paid on common stock | -2,648,000 | -2,014,000 | -2,843,000 |
Net cash provided by (used in) financing activities | -8,262,000 | -9,380,000 | -9,288,000 |
Decrease in cash | -916,000 | -9,013,000 | -8,880,000 |
Cash and cash equivalents at beginning of period | 2,645,000 | 11,658,000 | |
Cash and cash equivalents at end of period | $1,729,000 | $2,645,000 | $11,658,000 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data -- Unaudited (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $13,965 | $13,807 | $13,600 | $13,362 | $13,605 | $13,446 | $13,206 | $13,202 | $54,734 | $53,459 | $55,767 |
Interest expense | 844 | 805 | 788 | 815 | 848 | 824 | 865 | 998 | 3,252 | 3,535 | 6,157 |
Net interest income | 13,121 | 13,002 | 12,812 | 12,547 | 12,757 | 12,622 | 12,341 | 12,204 | 51,482 | 49,924 | 49,610 |
Provision charged to expense | 134 | 44 | 128 | 323 | 486 | 975 | 252 | 480 | 629 | 2,193 | 2,647 |
Net interest income after provision for loan losses | 12,987 | 12,958 | 12,684 | 12,224 | 12,271 | 11,647 | 12,089 | 11,724 | 50,853 | 47,731 | 46,963 |
Other income | 4,496 | 4,402 | 4,990 | 4,481 | 4,380 | 5,697 | 4,714 | 4,550 | 18,369 | 19,341 | 18,310 |
Other expense | 11,243 | 11,090 | 11,214 | 10,960 | 10,892 | 11,082 | 10,918 | 10,612 | 44,507 | 43,504 | 42,838 |
Income before income taxes | 6,240 | 6,270 | 6,460 | 5,745 | 5,759 | 6,262 | 5,885 | 5,662 | 24,715 | 23,568 | 22,435 |
Income taxes | 2,330 | 2,355 | 2,431 | 2,138 | 2,140 | 2,352 | 2,220 | 2,134 | 9,254 | 8,846 | 8,410 |
Net income | 3,910 | 3,915 | 4,029 | 3,607 | 3,619 | 3,910 | 3,665 | 3,528 | 15,461 | 14,722 | 14,025 |
Dividends on preferred shares | 839 | 1,105 | 1,104 | 1,104 | 1,104 | 1,104 | 1,105 | 1,104 | 4,152 | 4,417 | 4,252 |
Net income available to common stockholders | $3,071 | $2,810 | $2,925 | $2,503 | $2,515 | $2,806 | $2,560 | $2,424 | $11,309 | $10,305 | $9,773 |
Basic earnings per common share | $0.48 | $0.48 | $0.49 | $0.43 | $0.43 | $0.47 | $0.43 | $0.41 | $1.88 | $1.74 | $1.62 |
Diluted earnings per common share | $0.47 | $0.47 | $0.48 | $0.43 | $0.42 | $0.47 | $0.43 | $0.41 | $1.85 | $1.73 | $1.62 |
Uncategorized_Items
Uncategorized Items | |
[us-gaap_CashAndCashEquivalentsAtCarryingValue] | 20,538,000 |