Document_and_Entity_Informatio
Document and Entity Information Document | 3 Months Ended | |
Mar. 31, 2015 | 1-May-15 | |
Entity Information [Line Items] | ||
Entity Registrant Name | UNION BANKSHARES INC | |
Entity Central Index Key | 706863 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 4,458,353 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes |
Consolidated_Balance_Sheets_Ma
Consolidated Balance Sheets (March 31, 2015 Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and due from banks | $3,973 | $4,822 |
Federal funds sold and overnight deposits | 9,178 | 36,922 |
Cash and cash equivalents | 13,151 | 41,744 |
Interest bearing deposits in banks | 13,102 | 12,252 |
Investment securities available-for-sale | 57,798 | 45,749 |
Investment securities held-to-maturity (fair value $5.2 million and $7.1 million at March 31, 2015 and December 31, 2014, respectively) | 5,216 | 7,215 |
Loans held for sale | 8,257 | 10,743 |
Loans | 493,013 | 479,978 |
Allowance for loan losses | -4,773 | -4,694 |
Net deferred loan costs | 388 | 355 |
Net loans | 488,628 | 475,639 |
Accrued interest receivable | 2,082 | 1,854 |
Premises and equipment, net | 12,491 | 11,853 |
Core deposit intangible | 1,053 | 1,096 |
Goodwill | 2,223 | 2,223 |
Investment in real estate limited partnerships | 2,701 | 2,824 |
Company-owned life insurance | 8,554 | 3,517 |
Other assets | 7,231 | 7,354 |
Total assets | 622,487 | 624,063 |
Deposits | ||
Noninterest bearing | 97,198 | 90,385 |
Interest bearing | 303,232 | 302,722 |
Time | 146,378 | 158,957 |
Total deposits | 546,808 | 552,064 |
Borrowed funds | 18,587 | 15,118 |
Accrued interest and other liabilities | 4,718 | 5,447 |
Total liabilities | 570,113 | 572,629 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, $2.00 par value; 7,500,000 shares authorized; 4,929,296 shares issued at March 31, 2015 and December 31, 2014 | 9,859 | 9,859 |
Additional paid-in capital | 430 | 418 |
Retained earnings | 47,142 | 46,462 |
Treasury stock at cost; 471,943 shares at March 31, 2015 and 470,866 shares at December 31, 2014 | -3,951 | -3,925 |
Accumulated other comprehensive loss | -1,106 | -1,380 |
Total stockholders' equity | 52,374 | 51,434 |
Total liabilities and stockholders' equity | $622,487 | $624,063 |
Consolidated_Balance_Sheets_Ma1
Consolidated Balance Sheets (March 31, 2015 Unaudited) Consolidated Balance Sheets Parenthetical (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Assets | ||
Investment securities held-to-maturity, fair value | $5,158 | $7,100 |
Stockholders' Equity | ||
Common stock, par value | $2 | $2 |
Common stock, shares authorized | 7,500,000 | 7,500,000 |
Common stock, shares issued | 4,929,296 | 4,929,296 |
Treasury stock, shares | 471,943 | 470,866 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest and dividend income | ||
Interest and fees on loans | $5,732 | $5,762 |
Interest on debt securities: | ||
Taxable | 215 | 205 |
Tax exempt | 107 | 81 |
Dividends | 15 | 15 |
Interest on federal funds sold and overnight deposits | 8 | 4 |
Interest on interest bearing deposits in banks | 40 | 45 |
Total interest and dividend income | 6,117 | 6,112 |
Interest expense | ||
Interest on deposits | 476 | 472 |
Interest on borrowed funds | 89 | 105 |
Total interest expense | 565 | 577 |
Net interest income | 5,552 | 5,535 |
Provision for loan losses | 100 | 75 |
Net interest income after provision for loan losses | 5,452 | 5,460 |
Noninterest income | ||
Trust income | 177 | 175 |
Service fees | 1,346 | 1,272 |
Net gains on sales of investment securities available-for-sale | 0 | 43 |
Net gains on sales of loans held for sale | 729 | 433 |
Other income | 83 | 30 |
Total noninterest income | 2,335 | 1,953 |
Noninterest expenses | ||
Salaries and wages | 2,323 | 2,247 |
Pension and employee benefits | 734 | 667 |
Occupancy expense, net | 381 | 339 |
Equipment expense | 407 | 387 |
Other expenses | 1,545 | 1,539 |
Total noninterest expenses | 5,390 | 5,179 |
Income before provision for income taxes | 2,397 | 2,234 |
Provision for income taxes | 513 | 470 |
Net income | $1,884 | $1,764 |
Earnings per common share | $0.42 | $0.40 |
Weighted average number of common shares outstanding | 4,457,871 | 4,458,278 |
Dividends per common share | $0.27 | $0.26 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net Income | $1,884 | $1,764 |
Investment securities available-for-sale: | ||
Net unrealized holding gains arising during the period on investment securities available-for-sale | 274 | 385 |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income | 0 | -28 |
Total other comprehensive income | 274 | 357 |
Total comprehensive income | $2,158 | $2,121 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) |
In Thousands, except Share data | ||||||
Balances at Dec. 31, 2013 | $49,820 | $9,855 | $363 | $43,405 | ($3,880) | $77 |
Common Stock, Shares, net of treasury at Dec. 31, 2013 | 4,458,359 | |||||
Net income | 1,764 | 1,764 | ||||
Other comprehensive income | 357 | 357 | ||||
Cash dividends declared ($0.27 and $0.26 per share for the three months ended March 31, 2015 and 2014, respectively) | -1,160 | -1,160 | ||||
Stock based compensation expense | 5 | 5 | ||||
Purchase of treasury stock | -2 | -2 | ||||
Purchase of treasury stock, shares | -97 | |||||
Balances at Mar. 31, 2014 | 50,784 | 9,855 | 368 | 44,009 | -3,882 | 434 |
Common Stock, Shares, net of treasury at Mar. 31, 2014 | 4,458,262 | |||||
Balances at Dec. 31, 2014 | 51,434 | 9,859 | 418 | 46,462 | -3,925 | -1,380 |
Common Stock, Shares, net of treasury at Dec. 31, 2014 | 4,458,430 | |||||
Net income | 1,884 | 1,884 | ||||
Other comprehensive income | 274 | 274 | ||||
Cash dividends declared ($0.27 and $0.26 per share for the three months ended March 31, 2015 and 2014, respectively) | -1,204 | -1,204 | ||||
Stock based compensation expense | 12 | 12 | ||||
Purchase of treasury stock | -26 | -26 | ||||
Purchase of treasury stock, shares | -1,077 | |||||
Balances at Mar. 31, 2015 | $52,374 | $9,859 | $430 | $47,142 | ($3,951) | ($1,106) |
Common Stock, Shares, net of treasury at Mar. 31, 2015 | 4,457,353 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) Consolidated Statements of Changes in Stockholders' Equity Parenthetical (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Dividends per common share | $0.27 | $0.26 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows From Operating Activities | ||
Net Income | $1,884 | $1,764 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 227 | 226 |
Provision for loan losses | 100 | 75 |
Deferred income tax (credit) provision | -4 | 82 |
Net amortization of investment securities | 46 | 17 |
Equity in losses of limited partnerships | 122 | 164 |
Stock based compensation expense | 12 | 5 |
Net (increase) decrease in unamortized loan costs | -33 | 11 |
Proceeds from sales of loans held for sale | 32,049 | 20,767 |
Origination of loans held for sale | -28,834 | -19,906 |
Net gains on sales of loans held for sale | -729 | -433 |
Net gains on sales of investment securities available-for-sale | 0 | -43 |
Net loss on sales of other real estate owned | 0 | 10 |
Increase in accrued interest receivable | -228 | -329 |
Amortization of core deposit intangible | 43 | 43 |
(Increase) decrease in other assets | -50 | 237 |
Decrease in other liabilities | -729 | -119 |
Net cash provided by operating activities | 3,876 | 2,571 |
Interest bearing deposits in banks | ||
Proceeds from maturities and redemptions | 543 | 1,848 |
Purchases | -1,393 | -490 |
Investment securities held-to-maturity | ||
Proceeds from maturities, calls and paydowns | 2,000 | 0 |
Purchases | 0 | -2,000 |
Investment securities available-for-sale | ||
Proceeds from sales | 0 | 2,462 |
Proceeds from maturities, calls and paydowns | 2,732 | 100 |
Purchases | -14,413 | -6,780 |
Net increase in loans | -13,060 | -11,813 |
Recoveries of loans charged off | 4 | 13 |
Purchases of premises and equipment | -865 | -297 |
Purchase of company-owned life insurance | -5,000 | 0 |
Proceeds from sales of other real estate owned | 0 | 42 |
Net cash used in investing activities | -29,452 | -16,915 |
Cash Flows From Financing Activities | ||
Repayment of long-term debt | -72 | -87 |
Net increase in short-term borrowings outstanding | 3,541 | 621 |
Net increase in noninterest bearing deposits | 6,813 | 2,291 |
Net increase in interest bearing deposits | 510 | 11,585 |
Net decrease in time deposits | -12,579 | -14,573 |
Purchase of treasury stock | -26 | -2 |
Dividends paid | -1,204 | -1,160 |
Net cash used in financing activities | -3,017 | -1,325 |
Net decrease in cash and cash equivalents | -28,593 | -15,669 |
Cash and cash equivalents | ||
Beginning of period | 41,744 | 30,719 |
End of period | 13,151 | 15,050 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 394 | 445 |
Income taxes paid | $200 | $0 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Accounting Policies [Abstract] | ||||
Significant Accounting Policies [Text Block] | Basis of Presentation | |||
The accompanying unaudited interim consolidated financial statements of Union Bankshares, Inc. and Subsidiary (the Company) as of March 31, 2015, and for the three months ended March 31, 2015 and 2014, have been prepared in conformity with GAAP for interim financial information, general practices within the banking industry, and the accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The Company's sole subsidiary is Union Bank. In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments and disclosures necessary for a fair presentation of the information contained herein, have been made. This information should be read in conjunction with the Company’s 2014 Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full fiscal year ending December 31, 2015, or any other interim period. | ||||
Certain amounts in the 2014 consolidated financial statements have been reclassified to conform to the 2015 presentation. | ||||
The acronyms, abbreviations and capitalized terms identified below are used throughout this Form 10-Q, including Part I. "Financial Information" and Part II. "Other Information". The following is provided to aid the reader and provide a reference page when reviewing this Form 10-Q. | ||||
AFS: | Available-for-sale | IRS: | Internal Revenue Service | |
ALCO: | Asset Liability Committee | |||
ALL: | Allowance for loan losses | MBS: | Mortgage-backed security | |
ASC: | Accounting Standards Codification | MSRs: | Mortgage servicing rights | |
ASU: | Accounting Standards Update | OAO: | Other assets owned | |
Board: | Board of Directors | OCI: | Other comprehensive income (loss) | |
bp or bps: | Basis point(s) | OFAC: | U.S. Office of Foreign Assets Control | |
Branch Acquisition: | The acquisition of three New Hampshire branches in May 2011 | OREO: | Other real estate owned | |
CDARS: | Certificate of Deposit Accounts Registry Service of the Promontory Interfinancial Network | OTTI: | Other-than-temporary impairment | |
Company: | Union Bankshares, Inc. and Subsidiary | OTT: | Other-than-temporary | |
FASB: | Financial Accounting Standards Board | Plan: | The Union Bank Pension Plan | |
FDIC: | Federal Deposit Insurance Corporation | RD: | USDA Rural Development | |
FHA: | U.S. Federal Housing Administration | SBA: | U.S. Small Business Administration | |
FHLB: | Federal Home Loan Bank of Boston | SEC: | U.S. Securities and Exchange Commission | |
FRB: | Federal Reserve Board | TDR: | Troubled-debt restructuring | |
FHLMC/Freddie Mac: | Federal Home Loan Mortgage Corporation | Union: | Union Bank, the sole subsidiary of Union Bankshares, Inc | |
GAAP: | Generally accepted accounting principles in the United States | USDA: | U.S. Department of Agriculture | |
HTM: | Held-to-maturity | VA: | U.S. Veterans Administration | |
HUD: | U.S. Department of Housing and Urban Development | 2008 ISO Plan: | 2008 Incentive Stock Option Plan of the Company | |
ICS: | Insured Cash Sweeps of the Promontory Interfinancial Network | 2014 Equity Plan: | 2014 Equity Incentive Plan |
Legal_Contingencies
Legal Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Matters and Contingencies Disclosure [Text Block] | Legal Contingencies |
In the normal course of business, the Company is involved in various legal and other proceedings. In the opinion of management, any liability resulting from such proceedings is not expected to have a material adverse effect on the Company’s consolidated financial condition or results of operations. |
Per_Share_Information
Per Share Information | 3 Months Ended |
Mar. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Per Share Information |
Earnings per common share are computed based on the weighted average number of shares of common stock outstanding during the period and reduced for shares held in treasury. The assumed conversion of outstanding exercisable stock options does not result in material dilution and is not included in the calculation. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Pronouncements |
In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. The amendments in this ASU eliminate the concept of extraordinary items by eliminating the requirement to separately classify, present, and disclose extraordinary events and transactions. Although the amendments will eliminate the requirements for reporting entities to consider whether an underlying event or transactions is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2015. Management has reviewed the ASU and does not believe that it will have a material effect on the Company's consolidated financial position or results of operations. | |
In February 2015, the FASB issued ASU No. 2015-02, Consolidation: Amendments to the Consolidation Analysis. The amendments in this ASU affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this ASU are effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2015. Management has reviewed the ASU and does not believe that it will have a material effect on the Company's consolidated financial position or results of operations. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Other Intangible Assets | |||
As a result of the 2011 Branch Acquisition, the Company recorded goodwill amounting to $2.2 million. The goodwill is not amortizable. Goodwill is evaluated for impairment annually, in accordance with current authoritative accounting guidance. Management assesses qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the Company, in total, is less than its carrying amount. Management is not aware of any such events or circumstances that would cause it to conclude that the fair value of the Company is less than its carrying amount. | ||||
The Company also recorded $1.7 million of acquired identifiable intangible assets in connection with the 2011 Branch Acquisition, representing the core deposit intangible which is subject to straight-line amortization over the estimated 10 year average life of the core deposit base, absent any future impairment. Management will evaluate the core deposit intangible for impairment if conditions warrant. | ||||
Amortization expense for the core deposit intangible was $43 thousand for the three months ended March 31, 2015 and 2014. The amortization expense is included in other noninterest expense on the consolidated statement of income and is deductible for tax purposes. As of March 31, 2015, the remaining amortization expense related to the core deposit intangible, absent any future impairment, is expected to be as follows: | ||||
(Dollars in thousands) | ||||
2015 | $ | 128 | ||
2016 | 171 | |||
2017 | 171 | |||
2018 | 171 | |||
2019 | 171 | |||
Thereafter | 241 | |||
Total | $ | 1,053 | ||
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investment Securities | ||||||||||||||||||||||||
Investment securities as of the balance sheet dates consisted of the following: | |||||||||||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 21,431 | $ | 81 | $ | (85 | ) | $ | 21,427 | ||||||||||||||||
Agency mortgage-backed | 6,882 | 153 | (2 | ) | 7,033 | ||||||||||||||||||||
State and political subdivisions | 17,678 | 429 | (30 | ) | 18,077 | ||||||||||||||||||||
Corporate | 10,767 | 201 | (42 | ) | 10,926 | ||||||||||||||||||||
Total debt securities | 56,758 | 864 | (159 | ) | 57,463 | ||||||||||||||||||||
Mutual funds | 335 | — | — | 335 | |||||||||||||||||||||
Total | $ | 57,093 | $ | 864 | $ | (159 | ) | $ | 57,798 | ||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 5,216 | $ | — | $ | (58 | ) | $ | 5,158 | ||||||||||||||||
December 31, 2014 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 15,563 | $ | 23 | $ | (145 | ) | $ | 15,441 | ||||||||||||||||
Agency mortgage-backed | 6,516 | 92 | (15 | ) | 6,593 | ||||||||||||||||||||
State and political subdivisions | 15,800 | 355 | (52 | ) | 16,103 | ||||||||||||||||||||
Corporate | 7,243 | 98 | (66 | ) | 7,275 | ||||||||||||||||||||
Total debt securities | 45,122 | 568 | (278 | ) | 45,412 | ||||||||||||||||||||
Mutual funds | 337 | — | — | 337 | |||||||||||||||||||||
Total | $ | 45,459 | $ | 568 | $ | (278 | ) | $ | 45,749 | ||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 7,215 | $ | — | $ | (161 | ) | $ | 7,054 | ||||||||||||||||
There were no sales of AFS securities for the three months ended March 31, 2015. Proceeds from the sale of AFS securities were $2.5 million with gross realized gains of $43 thousand for the three months ended March 31, 2014. The specific identification method is used to determine realized gains and losses on sales of securities AFS. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities by contractual scheduled maturity as of March 31, 2015 were as follows: | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Due in one year or less | $ | 430 | $ | 440 | |||||||||||||||||||||
Due from one to five years | 12,515 | 12,605 | |||||||||||||||||||||||
Due from five to ten years | 22,803 | 23,170 | |||||||||||||||||||||||
Due after ten years | 14,128 | 14,215 | |||||||||||||||||||||||
49,876 | 50,430 | ||||||||||||||||||||||||
Agency mortgage-backed | 6,882 | 7,033 | |||||||||||||||||||||||
Total debt securities available-for-sale | $ | 56,758 | $ | 57,463 | |||||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
Due from one to five years | $ | 998 | $ | 998 | |||||||||||||||||||||
Due from five to ten years | 1,000 | 997 | |||||||||||||||||||||||
Due after ten years | 3,218 | 3,163 | |||||||||||||||||||||||
Total debt securities held-to-maturity | $ | 5,216 | $ | 5,158 | |||||||||||||||||||||
Actual maturities may differ for certain debt securities that may be called by the issuer prior to the contractual maturity. Actual maturities usually differ from contractual maturities on agency MBS because the mortgages underlying the securities may be prepaid, usually without any penalties. Therefore, these agency MBS are shown separately and are not included in the contractual maturity categories in the above maturity summary. | |||||||||||||||||||||||||
Information pertaining to all investment securities with gross unrealized losses as of the balance sheet dates, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: | |||||||||||||||||||||||||
March 31, 2015 | Less Than 12 Months | 12 Months and over | Total | ||||||||||||||||||||||
Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | |||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored | 6 | $ | 8,001 | $ | (63 | ) | 5 | $ | 4,023 | $ | (80 | ) | 11 | $ | 12,024 | $ | (143 | ) | |||||||
enterprises | |||||||||||||||||||||||||
Agency mortgage-backed | 1 | 322 | (2 | ) | — | — | — | 1 | 322 | (2 | ) | ||||||||||||||
State and political | 10 | 3,529 | (30 | ) | — | — | — | 10 | 3,529 | (30 | ) | ||||||||||||||
subdivisions | |||||||||||||||||||||||||
Corporate | 4 | 2,641 | (25 | ) | 2 | 1,000 | (17 | ) | 6 | 3,641 | (42 | ) | |||||||||||||
Total | 21 | $ | 14,493 | $ | (120 | ) | 7 | $ | 5,023 | $ | (97 | ) | 28 | $ | 19,516 | $ | (217 | ) | |||||||
December 31, 2014 | Less Than 12 Months | 12 Months and over | Total | ||||||||||||||||||||||
Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | |||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored | 6 | $ | 4,431 | $ | (16 | ) | 14 | $ | 12,307 | $ | (290 | ) | 20 | $ | 16,738 | $ | (306 | ) | |||||||
enterprises | |||||||||||||||||||||||||
Agency mortgage-backed | 2 | 611 | (10 | ) | 2 | 810 | (5 | ) | 4 | 1,421 | (15 | ) | |||||||||||||
State and political | 7 | 2,326 | (40 | ) | 3 | 878 | (12 | ) | 10 | 3,204 | (52 | ) | |||||||||||||
subdivisions | |||||||||||||||||||||||||
Corporate | 3 | 1,181 | (21 | ) | 3 | 1,472 | (45 | ) | 6 | 2,653 | (66 | ) | |||||||||||||
Total | 18 | $ | 8,549 | $ | (87 | ) | 22 | $ | 15,467 | $ | (352 | ) | 40 | $ | 24,016 | $ | (439 | ) | |||||||
The Company evaluates all investment securities on a quarterly basis, and more frequently when economic conditions warrant, to determine if OTTI exists. A security is considered impaired if the fair value is lower than its amortized cost basis at the report date. If impaired, management then assesses whether the unrealized loss is OTT. | |||||||||||||||||||||||||
Declines in the fair values of individual equity securities that are deemed to be OTT are reflected in noninterest income when identified. An unrealized loss on a debt security is generally deemed to be OTT and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. The credit loss component of OTTI write-down is recorded, net of tax effect, through net income as a component of net OTTI losses in the consolidated statement of income, while the remaining portion of the impairment loss is recognized in OCI, provided the Company does not intend to sell the underlying debt security and it is "more likely than not" that the Company will not have to sell the debt security prior to recovery. | |||||||||||||||||||||||||
Management considers the following factors in determining whether OTTI exists and the period over which the debt security is expected to recover: | |||||||||||||||||||||||||
• | The length of time, and extent to which, the fair value has been less than the amortized cost; | ||||||||||||||||||||||||
• | Adverse conditions specifically related to the security, industry, or geographic area; | ||||||||||||||||||||||||
• | The historical and implied volatility of the fair value of the security; | ||||||||||||||||||||||||
• | The payment structure of the debt security and the likelihood of the issuer being able to make payments that may increase in the future; | ||||||||||||||||||||||||
• | Failure of the issuer of the security to make scheduled interest or principal payments; | ||||||||||||||||||||||||
• | Any changes to the rating of the security by a rating agency; | ||||||||||||||||||||||||
• | Recoveries or additional declines in fair value subsequent to the balance sheet date; and | ||||||||||||||||||||||||
• | The nature of the issuer, including whether it is a private company, public entity or government-sponsored enterprise, and the existence or likelihood of any government or third party guaranty. | ||||||||||||||||||||||||
The Company has the ability to hold the investment securities that had unrealized losses at March 31, 2015 for the foreseeable future and no declines were deemed by management to be OTT. | |||||||||||||||||||||||||
Investment securities with a carrying amount of $5.7 million and $6.5 million at March 31, 2015 and December 31, 2014, respectively, were pledged as collateral for public deposits and for other purposes as required or permitted by law. |
Loans
Loans | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | |||||||||||||||||||
Financing Receivables [Text Block] | Loans | ||||||||||||||||||
Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their unpaid principal balances, adjusted for any charge-offs, the ALL, and any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. | |||||||||||||||||||
Loan interest income is accrued daily on outstanding balances. The following accounting policies, related to accrual and nonaccrual loans, apply to all portfolio segments and loan classes, which the Company considers to be the same. The accrual of interest is normally discontinued when a loan is specifically determined to be impaired and/or management believes, after considering collection efforts and other factors, that the borrower's financial condition is such that collection of interest is doubtful. Generally, any unpaid interest previously accrued on those loans is reversed against current period interest income. A loan may be restored to accrual status when its financial status has significantly improved and there is no principal or interest past due. A loan may also be restored to accrual status if the borrower makes six consecutive monthly payments or the lump sum equivalent. Income on nonaccrual loans is generally not recognized unless a loan is returned to accrual status or after all principal has been collected. Interest income generally is not recognized on impaired loans unless the likelihood of further loss is remote. Interest payments received on such loans are generally recorded as a reduction of the loan principal balance. Delinquency status is determined based on contractual terms for all portfolio segments and loan classes. Loans past due 30 days or more are considered delinquent. | |||||||||||||||||||
Loan origination fees and direct loan origination costs are deferred and amortized as an adjustment of the related loan's yield using methods that approximate the interest method. The Company generally amortizes these amounts over the estimated average life of the related loans. | |||||||||||||||||||
The loans purchased in the 2011 Branch Acquisition were initially recorded at $32.9 million, the estimated fair value at the time of purchase. The estimated fair value contains both accretable and nonaccretable components. The accretable component is amortized as an adjustment to the related loan yield over the average life of the loan. The nonaccretable component represents probable loss due to credit risk and is reviewed by management periodically and adjusted as deemed necessary. At the acquisition date, the fair value of the loans acquired resulted in an accretable loan premium component of $545 thousand, less a nonaccretable credit risk component of $318 thousand. | |||||||||||||||||||
The following table summarizes activity in the accretable loan premium component for the acquired loan portfolio: | |||||||||||||||||||
For The Three Months Ended March 31, | |||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Balance at beginning of period | $ | 292 | $ | 374 | |||||||||||||||
Loan premium amortization | (18 | ) | (20 | ) | |||||||||||||||
Balance at end of period | $ | 274 | $ | 354 | |||||||||||||||
Loan premium amortization has been charged to Interest and fees on loans on the Company's consolidated statements of income for the periods reported. The remaining accretable loan premium component balance was $274 thousand at March 31, 2015 and $292 thousand at December 31, 2014. The balance of the nonaccretable credit risk component was $193 thousand at March 31, 2015 and December 31, 2014. The net carrying amounts of the acquired loans were $9.1 million at March 31, 2015 and December 31, 2014 and are included in the loan balances below. | |||||||||||||||||||
The composition of Net loans as of the balance sheet dates were as follows: | |||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 165,276 | $ | 165,475 | |||||||||||||||
Construction real estate | 29,822 | 37,258 | |||||||||||||||||
Commercial real estate | 220,591 | 211,710 | |||||||||||||||||
Commercial | 20,922 | 20,620 | |||||||||||||||||
Consumer | 4,127 | 4,435 | |||||||||||||||||
Municipal | 52,275 | 40,480 | |||||||||||||||||
Gross loans | 493,013 | 479,978 | |||||||||||||||||
Allowance for loan losses | (4,773 | ) | (4,694 | ) | |||||||||||||||
Net deferred loan costs | 388 | 355 | |||||||||||||||||
Net loans | $ | 488,628 | $ | 475,639 | |||||||||||||||
Residential real estate loans aggregating $28.5 million and $37.8 million at March 31, 2015 and December 31, 2014, respectively, were pledged as collateral on deposits of municipalities. Qualifying residential first mortgage loans held by Union may be pledged as collateral for borrowings from the FHLB under a blanket lien. | |||||||||||||||||||
A summary of current, past due and nonaccrual loans as of the balance sheet dates follows: | |||||||||||||||||||
March 31, 2015 | Current | 30-59 Days | 60-89 Days | 90 Days and Over and Accruing | Nonaccrual | Total | |||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 159,324 | $ | 3,794 | $ | 448 | $ | 264 | $ | 1,446 | $ | 165,276 | |||||||
Construction real estate | 29,660 | 103 | — | — | 59 | 29,822 | |||||||||||||
Commercial real estate | 216,882 | 1,024 | — | 2,135 | 550 | 220,591 | |||||||||||||
Commercial | 20,836 | 42 | 6 | — | 38 | 20,922 | |||||||||||||
Consumer | 4,120 | 4 | 2 | 1 | — | 4,127 | |||||||||||||
Municipal | 52,275 | — | — | — | — | 52,275 | |||||||||||||
Total | $ | 483,097 | $ | 4,967 | $ | 456 | $ | 2,400 | $ | 2,093 | $ | 493,013 | |||||||
December 31, 2014 | Current | 30-59 Days | 60-89 Days | 90 Days and Over and Accruing | Nonaccrual | Total | |||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 159,430 | $ | 2,278 | $ | 1,342 | $ | 890 | $ | 1,535 | $ | 165,475 | |||||||
Construction real estate | 37,075 | 112 | 10 | — | 61 | 37,258 | |||||||||||||
Commercial real estate | 207,325 | 2,194 | 173 | 1,454 | 564 | 211,710 | |||||||||||||
Commercial | 20,462 | 60 | 23 | — | 75 | 20,620 | |||||||||||||
Consumer | 4,391 | 36 | 8 | — | — | 4,435 | |||||||||||||
Municipal | 40,480 | — | — | — | — | 40,480 | |||||||||||||
Total | $ | 469,163 | $ | 4,680 | $ | 1,556 | $ | 2,344 | $ | 2,235 | $ | 479,978 | |||||||
There were three residential real estate loans in process of foreclosure at March 31, 2015. Aggregate interest on nonaccrual loans not recognized was $1.1 million and $1.0 million as of March 31, 2015 and 2014, respectively, and $1.1 million as of December 31, 2014. |
Allowance_for_loan_losses_and_
Allowance for loan losses and credit quality | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | |||||||||||||||||||||||||
Allowance for Credit Losses [Text Block] | Allowance for Loan Losses and Credit Quality | ||||||||||||||||||||||||
The ALL is established for estimated losses in the loan portfolio through a provision for loan losses charged to earnings. For all loan classes, loan losses are charged against the ALL when management believes the loan balance is uncollectible or in accordance with federal guidelines. Subsequent recoveries, if any, are credited to the ALL. | |||||||||||||||||||||||||
The ALL is maintained at a level believed by management to be appropriate to absorb probable credit losses inherent in the loan portfolio as of the balance sheet date. The amount of the ALL is based on management's periodic evaluation of the collectability of the loan portfolio, including the nature, volume and risk characteristics of the portfolio, credit concentrations, trends in historical loss experience, estimated value of any underlying collateral, specific impaired loans and economic conditions. There has been no change to the methodology used to estimate the ALL during the first quarter of 2015. While management uses available information to recognize losses on loans, future additions to the ALL may be necessary based on changes in economic conditions or other relevant factors. | |||||||||||||||||||||||||
In addition, various regulatory agencies, as an integral part of their examination process, regularly review the Company's ALL. Such agencies may require the Company to recognize additions to the ALL, with a corresponding charge to earnings, based on their judgments about information available to them at the time of their examination, which may not be currently available to management. | |||||||||||||||||||||||||
The ALL consists of specific, general and unallocated components. The specific component relates to the loans that are classified as impaired. Loans are evaluated for impairment and may be classified as impaired when management believes it is probable that the Company will not collect all the contractual interest and principal payments as scheduled in the loan agreement. Impaired loans may also include troubled loans that are restructured. A TDR occurs when the Company, for economic or legal reasons related to the borrower's financial difficulties, grants a concession to the borrower that would otherwise not be granted. A TDR classification may result from the transfer of assets to the Company in partial satisfaction of a troubled loan, a modification of a loan's terms (such as reduction of stated interest rates below market rates, extension of maturity that does not conform to the Company's policies, reduction of the face amount of the loan, reduction of accrued interest, or reduction or deferment of loan payments), or a combination. A specific reserve amount is allocated to the ALL for individual loans that have been classified as impaired based on management's estimate of the fair value of the collateral for collateral dependent loans, an observable market price, or the present value of anticipated future cash flows. The Company accounts for the change in present value attributable to the passage of time in the loan loss reserve. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer, real estate or small balance commercial loans for impairment evaluation, unless such loans are subject to a restructuring agreement or have been identified as impaired as part of a larger customer relationship. Management has established the threshold for individual impairment evaluation for commercial loans with balances greater than $500 thousand, based on an evaluation of the Company's historical loss experience on substandard commercial loans. | |||||||||||||||||||||||||
The general component represents the level of ALL allocable to each loan portfolio segment with similar risk characteristics and is determined based on historical loss experience, adjusted for qualitative factors, for each class of loan. Management deems a five year average to be an appropriate time frame on which to base historical losses for each portfolio segment. Qualitative factors considered include underwriting, economic and market conditions, portfolio composition, collateral values, delinquencies, lender experience and legal issues. The qualitative factors are determined based on the various risk characteristics of each portfolio segment. Risk characteristics relevant to each portfolio segment are as follows: | |||||||||||||||||||||||||
• | Residential real estate - Loans in this segment are collateralized by owner-occupied 1-4 family residential real estate, second and vacation homes, 1-4 family investment properties, home equity and second mortgage loans. Repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, could have an effect on the credit quality of this segment. | ||||||||||||||||||||||||
• | Construction real estate - Loans in this segment include residential and commercial construction properties, land and land development loans. Repayment is dependent on the credit quality of the individual borrower and/or the underlying cash flows generated by the properties being constructed. The overall health of the economy, including unemployment rates, housing prices, vacancy rates and material costs, could have an effect on the credit quality of this segment. | ||||||||||||||||||||||||
• | Commercial real estate - Loans in this segment are primarily properties occupied by businesses or income-producing properties. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by a general slowdown in business or increased vacancy rates which, in turn, could have an effect on the credit quality of this segment. Management requests business financial statements at least annually and monitors the cash flows of these loans. | ||||||||||||||||||||||||
• | Commercial - Loans in this segment are made to businesses and are generally secured by nonreal estate assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer or business spending, could have an effect on the credit quality of this segment. | ||||||||||||||||||||||||
• | Consumer - Loans in this segment are made to individuals for personal expenditures, such as an automobile purchase, and include unsecured loans. Repayment is primarily dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment, could have an effect on the credit quality of this segment. | ||||||||||||||||||||||||
• | Municipal - Loans in this segment are made to municipalities located within the Company's service area. Repayment is primarily dependent on taxes or other funds collected by the municipalities. Management considers there to be minimal risk surrounding the credit quality of this segment. | ||||||||||||||||||||||||
An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the ALL reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||||
All evaluations are inherently subjective as they require estimates that are susceptible to significant revision as more information becomes available or as changes occur in economic conditions or other relevant factors. Despite the allocation shown in the tables below, the ALL is general in nature and is available to absorb losses from any class of loan. | |||||||||||||||||||||||||
Changes in the ALL, by class of loans, for the three months ended March 31, 2015 and 2014 were as follows: | |||||||||||||||||||||||||
For The Three Months Ended March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 1,330 | $ | 439 | $ | 2,417 | $ | 176 | $ | 27 | $ | 42 | $ | 263 | $ | 4,694 | |||||||||
Provision (credit) for loan | 9 | (63 | ) | 251 | 20 | 10 | 12 | (139 | ) | 100 | |||||||||||||||
losses | |||||||||||||||||||||||||
Recoveries of amounts | — | 3 | — | — | 1 | — | — | 4 | |||||||||||||||||
charged off | |||||||||||||||||||||||||
1,339 | 379 | 2,668 | 196 | 38 | 54 | 124 | 4,798 | ||||||||||||||||||
Amounts charged off | — | — | — | (13 | ) | (12 | ) | — | — | (25 | ) | ||||||||||||||
Balance, March 31, 2015 | $ | 1,339 | $ | 379 | $ | 2,668 | $ | 183 | $ | 26 | $ | 54 | $ | 124 | $ | 4,773 | |||||||||
For The Three Months Ended March 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 1,251 | $ | 390 | $ | 2,644 | $ | 163 | $ | 23 | $ | 35 | $ | 141 | $ | 4,647 | |||||||||
Provision (credit) for loan | 21 | (19 | ) | (69 | ) | 5 | (4 | ) | 8 | 133 | 75 | ||||||||||||||
losses | |||||||||||||||||||||||||
Recoveries of amounts | 2 | 3 | — | 1 | 8 | — | — | 14 | |||||||||||||||||
charged off | |||||||||||||||||||||||||
1,274 | 374 | 2,575 | 169 | 27 | 43 | 274 | 4,736 | ||||||||||||||||||
Amounts charged off | (37 | ) | — | — | — | (5 | ) | — | — | (42 | ) | ||||||||||||||
Balance, March 31, 2014 | $ | 1,237 | $ | 374 | $ | 2,575 | $ | 169 | $ | 22 | $ | 43 | $ | 274 | $ | 4,694 | |||||||||
The allocation of the ALL, summarized on the basis of the Company's impairment methodology by class of loan, as of the balance sheet dates were as follows: | |||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 69 | $ | — | $ | 228 | $ | — | $ | — | $ | — | $ | — | $ | 297 | |||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 1,270 | 379 | 2,440 | 183 | 26 | 54 | 124 | 4,476 | |||||||||||||||||
for impairment | |||||||||||||||||||||||||
Total allocated | $ | 1,339 | $ | 379 | $ | 2,668 | $ | 183 | $ | 26 | $ | 54 | $ | 124 | $ | 4,773 | |||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 73 | $ | — | $ | 70 | $ | — | $ | — | $ | — | $ | — | $ | 143 | |||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 1,257 | 439 | 2,347 | 176 | 27 | 42 | 263 | 4,551 | |||||||||||||||||
for impairment | |||||||||||||||||||||||||
Total allocated | $ | 1,330 | $ | 439 | $ | 2,417 | $ | 176 | $ | 27 | $ | 42 | $ | 263 | $ | 4,694 | |||||||||
The recorded investment in loans, summarized on the basis of the Company's impairment methodology by class of loan, as of the balance sheet dates were as follows: | |||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 692 | $ | 252 | $ | 3,295 | $ | — | $ | — | $ | — | $ | 4,239 | |||||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 160,020 | 29,570 | 212,746 | 20,922 | 4,127 | 52,275 | 479,660 | ||||||||||||||||||
for impairment | |||||||||||||||||||||||||
160,712 | 29,822 | 216,041 | 20,922 | 4,127 | 52,275 | 483,899 | |||||||||||||||||||
Acquired loans | 4,564 | — | 4,550 | — | — | — | 9,114 | ||||||||||||||||||
Total | $ | 165,276 | $ | 29,822 | $ | 220,591 | $ | 20,922 | $ | 4,127 | $ | 52,275 | $ | 493,013 | |||||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 950 | $ | 275 | $ | 3,332 | $ | 123 | $ | — | $ | — | $ | 4,680 | |||||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 159,888 | 36,983 | 203,963 | 20,497 | 4,435 | 40,480 | 466,246 | ||||||||||||||||||
for impairment | |||||||||||||||||||||||||
160,838 | 37,258 | 207,295 | 20,620 | 4,435 | 40,480 | 470,926 | |||||||||||||||||||
Acquired loans | 4,637 | — | 4,415 | — | — | — | 9,052 | ||||||||||||||||||
Total | $ | 165,475 | $ | 37,258 | $ | 211,710 | $ | 20,620 | $ | 4,435 | $ | 40,480 | $ | 479,978 | |||||||||||
Risk and collateral ratings are assigned to loans and are subject to ongoing monitoring by lending and credit personnel with such ratings updated annually or more frequently if warranted. The following is an overview of the Company's loan rating system: | |||||||||||||||||||||||||
1-3 Rating - Pass | |||||||||||||||||||||||||
Risk-rating grades "1" through "3" comprise those loans ranging from those with lower than average credit risk, defined as borrowers with high liquidity, excellent financial condition, strong management, favorable industry trends or loans secured by highly liquid assets, through those with marginal credit risk, defined as borrowers that, while creditworthy, exhibit some characteristics requiring special attention by the account officer. | |||||||||||||||||||||||||
4/M Rating - Satisfactory/Monitor | |||||||||||||||||||||||||
Borrowers exhibit potential credit weaknesses or downward trends warranting management's attention. While potentially weak, these borrowers are currently marginally acceptable; no loss of principal or interest is envisioned. When warranted, these credits may be monitored on the watch list. | |||||||||||||||||||||||||
5-7 Rating - Substandard | |||||||||||||||||||||||||
Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt. The loan may be inadequately protected by the net worth and paying capacity of the obligor and/or the underlying collateral is inadequate. | |||||||||||||||||||||||||
The following tables summarize the loan ratings applied to the Company's loans by class as of the balance sheet dates: | |||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass | $ | 150,300 | $ | 24,697 | $ | 155,691 | $ | 19,011 | $ | 4,094 | $ | 52,275 | $ | 406,068 | |||||||||||
Satisfactory/Monitor | 8,136 | 4,840 | 54,607 | 1,697 | 29 | — | 69,309 | ||||||||||||||||||
Substandard | 2,276 | 285 | 5,743 | 214 | 4 | — | 8,522 | ||||||||||||||||||
Total | 160,712 | 29,822 | 216,041 | 20,922 | 4,127 | 52,275 | 483,899 | ||||||||||||||||||
Acquired loans | 4,564 | — | 4,550 | — | — | — | 9,114 | ||||||||||||||||||
Total | $ | 165,276 | $ | 29,822 | $ | 220,591 | $ | 20,922 | $ | 4,127 | $ | 52,275 | $ | 493,013 | |||||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass | $ | 141,259 | $ | 31,519 | $ | 159,725 | $ | 18,960 | $ | 4,360 | $ | 40,480 | $ | 396,303 | |||||||||||
Satisfactory/Monitor | 17,483 | 5,347 | 41,728 | 1,384 | 70 | — | 66,012 | ||||||||||||||||||
Substandard | 2,096 | 392 | 5,842 | 276 | 5 | — | 8,611 | ||||||||||||||||||
Total | 160,838 | 37,258 | 207,295 | 20,620 | 4,435 | 40,480 | 470,926 | ||||||||||||||||||
Acquired loans | 4,637 | — | 4,415 | — | — | — | 9,052 | ||||||||||||||||||
Total | $ | 165,475 | $ | 37,258 | $ | 211,710 | $ | 20,620 | $ | 4,435 | $ | 40,480 | $ | 479,978 | |||||||||||
Acquired loans are risk rated, as appropriate, according to the Company's loan rating system, but such ratings are not taken into account in establishing the ALL. Rather, in accordance with applicable accounting principles, acquired loans are initially recorded at fair value, determined based upon an estimate of the amount and timing of both principal and interest cash flows expected to be collected and discounted using a market interest rate, which includes an estimate of future credit losses expected to be incurred over the life of the portfolio. The primary credit quality indicator for acquired loans is whether there has been a decrease in expected cash flows. Monitoring of this portfolio is ongoing to determine if there is evidence of deterioration in credit quality since acquisition. As of March 31, 2015, there was no ALL for acquired loans. | |||||||||||||||||||||||||
The following table provides information with respect to impaired loans by class of loan as of and for the three months ended March 31, 2015: | |||||||||||||||||||||||||
As of March 31, 2015 | For The Three Months Ended March 31, 2015 | ||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 529 | $ | 538 | $ | 69 | |||||||||||||||||||
Commercial real estate | 2,122 | 2,134 | 228 | ||||||||||||||||||||||
2,651 | 2,672 | 297 | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 163 | 271 | — | ||||||||||||||||||||||
Construction real estate | 252 | 275 | — | ||||||||||||||||||||||
Commercial real estate | 1,173 | 1,227 | — | ||||||||||||||||||||||
1,588 | 1,773 | — | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | 692 | 809 | 69 | $ | 821 | $ | 11 | ||||||||||||||||||
Construction real estate | 252 | 275 | — | 264 | 3 | ||||||||||||||||||||
Commercial real estate | 3,295 | 3,361 | 228 | 3,313 | 34 | ||||||||||||||||||||
Total | $ | 4,239 | $ | 4,445 | $ | 297 | $ | 4,459 | $ | 48 | |||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Does not reflect government guaranties on impaired loans as of March 31, 2015 totaling $240 thousand. | ||||||||||||||||||||||||
The following table provides information with respect to impaired loans by class of loan as of and for the three months ended March 31, 2014: | |||||||||||||||||||||||||
As of March 31, 2014 | For The Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | $ | 651 | $ | 829 | $ | 41 | $ | 736 | $ | 5 | |||||||||||||||
Construction real estate | 348 | 371 | 3 | 348 | 4 | ||||||||||||||||||||
Commercial real estate | 4,232 | 4,276 | 134 | 4,226 | 42 | ||||||||||||||||||||
Commercial | 106 | 106 | — | 107 | 2 | ||||||||||||||||||||
Total | $ | 5,337 | $ | 5,582 | $ | 178 | $ | 5,417 | $ | 53 | |||||||||||||||
The following table provides information with respect to impaired loans as of December 31, 2014: | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | |||||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 537 | $ | 546 | $ | 73 | |||||||||||||||||||
Commercial real estate | 2,127 | 2,136 | 70 | ||||||||||||||||||||||
2,664 | 2,682 | 143 | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 412 | 602 | — | ||||||||||||||||||||||
Construction real estate | 275 | 298 | — | ||||||||||||||||||||||
Commercial real estate | 1,205 | 1,256 | — | ||||||||||||||||||||||
Commercial | 123 | 172 | — | ||||||||||||||||||||||
2,015 | 2,328 | — | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | 949 | 1,148 | 73 | ||||||||||||||||||||||
Construction real estate | 275 | 298 | — | ||||||||||||||||||||||
Commercial real estate | 3,332 | 3,392 | 70 | ||||||||||||||||||||||
Commercial | 123 | 172 | — | ||||||||||||||||||||||
Total | $ | 4,679 | $ | 5,010 | $ | 143 | |||||||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Does not reflect government guaranties on impaired loans as of December 31, 2014 totaling $244 thousand. | ||||||||||||||||||||||||
The following is a summary of TDR loans by class of loan as of the balance sheet dates: | |||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Number of Loans | Principal Balance | Number of Loans | Principal Balance | ||||||||||||||||||||||
Residential real estate | 5 | $ | 692 | 5 | $ | 704 | |||||||||||||||||||
Construction real estate | 3 | 252 | 3 | 276 | |||||||||||||||||||||
Commercial real estate | 3 | 702 | 3 | 711 | |||||||||||||||||||||
Total | 11 | $ | 1,646 | 11 | $ | 1,691 | |||||||||||||||||||
The TDR loans above represent loan modifications in which a concession was provided to the borrower, including due date extensions, maturity date extensions, interest rate reductions or the forgiveness of accrued interest. Troubled loans, that are restructured and meet established thresholds, are classified as impaired and a specific reserve amount is allocated to the ALL on the basis of the fair value of the collateral for collateral dependent loans, an observable market price, or the present value of anticipated future cash flows. | |||||||||||||||||||||||||
There was no new TDR activity during the three months ended March 31, 2015. The following table provides new TDR activity for the three months ended March 31, 2014: | |||||||||||||||||||||||||
New TDRs During the | |||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial real estate | 2 | $ | 1,018 | $ | 1,068 | ||||||||||||||||||||
There were no TDR loans modified within the previous twelve months that had subsequently defaulted during the three month periods ended March 31, 2015 or March 31, 2014. TDR loans are considered defaulted at 90 days past due. | |||||||||||||||||||||||||
At March 31, 2015 and December 31, 2014, the Company was not committed to lend any additional funds to borrowers whose loans were nonperforming, impaired or restructured. |
Defined_Benefit_Pension_Plan
Defined Benefit Pension Plan | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | Defined Benefit Pension Plan | ||||||
Union sponsors a noncontributory defined benefit pension plan covering all eligible employees employed prior to October 5, 2012. On October 5, 2012, the Company closed the Plan to new participants and froze the accrual of retirement benefits for current participants. It is Union's current intent to continue to maintain the frozen Plan and related Trust account and to distribute benefits to participants at such time and in such manner as provided under the terms of the Plan. The Company will continue to recognize the pension benefit and cash funding obligations for the remaining life of the associated liability for the frozen benefits under the Plan. The Plan provides defined benefits based on years of service and final average salary prior to October 5, 2012. | |||||||
Net periodic pension benefit for the three months ended March 31 consisted of the following components: | |||||||
Three Months Ended | |||||||
March 31, | |||||||
2015 | 2014 | ||||||
(Dollars in thousands) | |||||||
Service cost | $ | — | $ | — | |||
Interest cost on projected benefit obligation | 170 | 193 | |||||
Expected return on plan assets | (286 | ) | (298 | ) | |||
Amortization of prior service cost | — | — | |||||
Amortization of net loss | 14 | — | |||||
Net periodic benefit | $ | (102 | ) | $ | (105 | ) |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract] | |||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Other Comprehensive Income (Loss) | ||||||||||||||||||
Accounting principles generally require recognized revenue, expenses, gains and losses be included in net income or loss. Certain changes in assets and liabilities, such as the after tax effect of unrealized gains and losses on investment securities AFS that are not OTTI and the unfunded liability for the defined benefit pension plan, are not reflected in the consolidated statement of income. The cumulative effect of such items, net of tax effect, is reported as a separate component of the equity section of the consolidated balance sheet (Accumulated OCI). OCI, along with net income, comprises the Company's total comprehensive income or loss. | |||||||||||||||||||
As of the balance sheet dates, the components of Accumulated OCI, net of tax, were: | |||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Net unrealized gain on investment securities available-for-sale | $ | 466 | $ | 192 | |||||||||||||||
Defined benefit pension plan net unrealized actuarial loss | (1,572 | ) | (1,572 | ) | |||||||||||||||
Total | $ | (1,106 | ) | $ | (1,380 | ) | |||||||||||||
The following table discloses the tax effects allocated to each component of OCI for the three months ended March 31: | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||
Before-Tax Amount | Tax | Net-of-Tax Amount | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount | ||||||||||||||
Benefit | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||
Net unrealized holding gains arising during the period on investment securities available-for-sale | $ | 415 | $ | (141 | ) | $ | 274 | $ | 583 | $ | (198 | ) | $ | 385 | |||||
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income | — | — | — | (43 | ) | 15 | (28 | ) | |||||||||||
Total other comprehensive income | $ | 415 | $ | (141 | ) | $ | 274 | $ | 540 | $ | (183 | ) | $ | 357 | |||||
The following table discloses information concerning the reclassification adjustments from OCI for the three months ended March 31: | |||||||||||||||||||
Three Months Ended | |||||||||||||||||||
Reclassification Adjustment Description | March 31, 2015 | March 31, 2014 | Affected Line Item in | ||||||||||||||||
Consolidated Statement of Income | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||
Net gains on investment securities available-for-sale | $ | — | $ | (43 | ) | Net gains on sales of investment securities available-for-sale | |||||||||||||
Tax benefit | — | 15 | Provision for income taxes | ||||||||||||||||
Total reclassifications | $ | — | $ | (28 | ) | Net income | |||||||||||||
Fair_Value_Measurements_and_Di
Fair Value Measurements and Disclosures | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Disclosures [Text Block] | Fair Value Measurements and Disclosures | |||||||||||||||
The Company utilizes FASB ASC Topic 820, Fair Value Measurements and Disclosures, as guidance for accounting for assets and liabilities carried at fair value. This standard defines fair value as the price that would be received, without adjustment for transaction costs, to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The guidance in FASB ASC Topic 820 establishes a three-level fair value hierarchy, which prioritizes the inputs used in measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||||||||||||||||
The three levels of the fair value hierarchy are: | ||||||||||||||||
• | Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||
• | Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |||||||||||||||
• | Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |||||||||||||||
The following is a description of the valuation methodologies used for the Company’s assets that are measured on a recurring basis at estimated fair value: | ||||||||||||||||
AFS securities: Marketable equity securities and mutual funds have been valued using unadjusted quoted prices from active markets and therefore have been classified as Level 1. However, the majority of the Company’s AFS securities have been valued utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. | ||||||||||||||||
Assets measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014, segregated by fair value hierarchy level, are summarized below: | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
Fair | Quoted Prices | Significant | Significant | |||||||||||||
Value | in Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
March 31, 2015: | ||||||||||||||||
Investment securities available-for-sale (market approach) | ||||||||||||||||
Debt securities: | ||||||||||||||||
U.S. Government-sponsored enterprises | $ | 21,427 | $ | — | $ | 21,427 | $ | — | ||||||||
Agency mortgage-backed | 7,033 | — | 7,033 | — | ||||||||||||
State and political subdivisions | 18,077 | — | 18,077 | — | ||||||||||||
Corporate | 10,926 | — | 10,926 | — | ||||||||||||
Total debt securities | 57,463 | — | 57,463 | — | ||||||||||||
Mutual funds | 335 | 335 | — | — | ||||||||||||
Total | $ | 57,798 | $ | 335 | $ | 57,463 | $ | — | ||||||||
December 31, 2014: | ||||||||||||||||
Investment securities available-for-sale (market approach) | ||||||||||||||||
Debt securities: | ||||||||||||||||
U.S. Government-sponsored enterprises | $ | 15,441 | $ | — | $ | 15,441 | $ | — | ||||||||
Agency mortgage-backed | 6,593 | — | 6,593 | — | ||||||||||||
State and political subdivisions | 16,103 | — | 16,103 | — | ||||||||||||
Corporate | 7,275 | — | 7,275 | — | ||||||||||||
Total debt securities | 45,412 | — | 45,412 | — | ||||||||||||
Mutual funds | 337 | 337 | — | — | ||||||||||||
Total | $ | 45,749 | $ | 337 | $ | 45,412 | $ | — | ||||||||
There were no significant transfers in or out of Levels 1 and 2 for the three months ended March 31, 2015. Certain other assets and liabilities are measured at fair value on a nonrecurring basis, that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Assets and liabilities measured at fair value on a nonrecurring basis in periods after initial recognition, such as impaired loans, HTM securities, MSRs and OREO, were not considered material at March 31, 2015 or December 31, 2014. The Company has not elected to apply the fair value method to any financial assets or liabilities other than those situations where other accounting pronouncements require fair value measurements. | ||||||||||||||||
FASB ASC Topic 825, Financial Instruments, requires disclosure of the estimated fair value of financial instruments. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Management’s estimates and assumptions are inherently subjective and involve uncertainties and matters of significant judgment. Changes in assumptions could dramatically affect the estimated fair values. | ||||||||||||||||
Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments may be excluded from disclosure requirements. Thus, the aggregate fair value amounts presented may not necessarily represent the actual underlying fair value of such instruments of the Company. | ||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value of its significant financial instruments: | ||||||||||||||||
Cash and cash equivalents: The carrying amounts reported in the balance sheet for cash and cash equivalents approximate those assets' fair values and are classified as Level 1. | ||||||||||||||||
Interest bearing deposits in banks: Fair values for interest bearing deposits in banks are based on discounted present values of cash flows and are classified as Level 2. | ||||||||||||||||
Investment securities: Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair value measurements consider observable data which may include market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. Investment securities are classified as Level 1 or Level 2 depending on availability of recent trade information. | ||||||||||||||||
Loans held for sale: The fair value of loans held for sale is estimated based on quotes from third party vendors, resulting in a Level 2 classification. | ||||||||||||||||
Loans: The fair values of loans are estimated for portfolios of loans with similar financial characteristics and segregated by loan class or segment. For variable-rate loan categories that reprice frequently and with no significant change in credit risk, fair values are based on carrying amounts adjusted for credit risk. The fair values for other loans (for example, fixed-rate residential, commercial real estate, and rental property mortgage loans as well as commercial and industrial loans) are estimated using discounted cash flow analysis, based on interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Loan fair value estimates include judgments regarding future cash flows, future expected loss experience and risk characteristics. Fair values for impaired loans are estimated using discounted cash flow analysis or underlying collateral values, where applicable. The fair value methods and assumptions that utilize unobservable inputs as defined by current accounting standards are classified as Level 3. | ||||||||||||||||
Accrued interest receivable and payable: The carrying amounts of accrued interest approximate their fair values and are classified as Level 1, 2, or 3 in accordance with the classification of the related principal's valuation. | ||||||||||||||||
Nonmarketable equity securities: It is not practical to determine the fair value of the nonmarketable securities, such as FHLB stock, due to restrictions placed on their transferability. | ||||||||||||||||
Deposits: The fair values disclosed for noninterest bearing deposits are, by definition, equal to the amount payable on demand at the reporting date, resulting in a Level 1 classification. The fair values for time deposits and other interest bearing nontime deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered on similar deposits to a schedule of aggregated expected maturities on such deposits, resulting in a Level 2 classification. | ||||||||||||||||
Borrowed funds: The fair values of the Company’s long-term debt are estimated using discounted cash flow analysis based on interest rates currently being offered on similar debt instruments, resulting in a Level 2 classification. The fair values of the Company’s short-term debt approximate the carrying amounts reported in the balance sheet, resulting in a Level 1 classification. | ||||||||||||||||
Off-balance-sheet financial instruments: Fair values for off-balance-sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The only commitments to extend credit that are normally longer than one year in duration are the home equity lines whose interest rates are variable quarterly. The only fees collected for commitments are an annual fee on credit card arrangements and often a flat fee on commercial lines of credit and standby letters of credit. The fair value of off-balance-sheet financial instruments as of the balance sheet dates was not significant. | ||||||||||||||||
As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows: | ||||||||||||||||
March 31, 2015 | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
Carrying | Estimated Fair | Quoted Prices | Significant | Significant | ||||||||||||
Amount | Value | in Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Financial assets | ||||||||||||||||
Cash and cash equivalents | $ | 13,151 | $ | 13,151 | $ | 13,151 | $ | — | $ | — | ||||||
Interest bearing deposits in banks | 13,102 | 13,096 | — | 13,096 | — | |||||||||||
Investment securities | 63,014 | 62,956 | 335 | 62,621 | — | |||||||||||
Loans held for sale | 8,257 | 8,545 | — | 8,545 | — | |||||||||||
Loans, net | ||||||||||||||||
Residential real estate | 164,068 | 166,497 | — | — | 166,497 | |||||||||||
Construction real estate | 29,466 | 30,463 | — | — | 30,463 | |||||||||||
Commercial real estate | 217,973 | 221,983 | — | — | 221,983 | |||||||||||
Commercial | 20,755 | 20,172 | — | — | 20,172 | |||||||||||
Consumer | 4,104 | 4,037 | — | — | 4,037 | |||||||||||
Municipal | 52,262 | 53,437 | — | — | 53,437 | |||||||||||
Accrued interest receivable | 2,082 | 2,082 | — | 395 | 1,687 | |||||||||||
Nonmarketable equity securities | 2,053 | N/A | N/A | N/A | N/A | |||||||||||
Financial liabilities | ||||||||||||||||
Deposits | ||||||||||||||||
Noninterest bearing | $ | 97,198 | $ | 97,198 | $ | 97,198 | $ | — | $ | — | ||||||
Interest bearing | 303,232 | 303,233 | — | 303,233 | — | |||||||||||
Time | 146,378 | 146,560 | — | 146,560 | — | |||||||||||
Borrowed funds | ||||||||||||||||
Short-term | 10,423 | 10,423 | 10,423 | — | — | |||||||||||
Long-term | 8,164 | 8,673 | — | 8,673 | — | |||||||||||
Accrued interest payable | 487 | 487 | — | 487 | — | |||||||||||
December 31, 2014 | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
Carrying | Estimated Fair | Quoted Prices | Significant | Significant | ||||||||||||
Amount | Value | in Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Financial assets | ||||||||||||||||
Cash and cash equivalents | $ | 41,744 | $ | 41,744 | $ | 41,744 | $ | — | $ | — | ||||||
Interest bearing deposits in banks | 12,252 | 12,248 | — | 12,248 | — | |||||||||||
Investment securities | 52,964 | 52,803 | 337 | 52,466 | — | |||||||||||
Loans held for sale | 10,743 | 11,036 | — | 11,036 | — | |||||||||||
Loans, net | ||||||||||||||||
Residential real estate | 164,267 | 166,780 | — | — | 166,780 | |||||||||||
Construction real estate | 36,847 | 36,876 | — | — | 36,876 | |||||||||||
Commercial real estate | 209,187 | 214,184 | — | — | 214,184 | |||||||||||
Commercial | 20,459 | 19,859 | — | — | 19,859 | |||||||||||
Consumer | 4,411 | 4,379 | — | — | 4,379 | |||||||||||
Municipal | 40,468 | 39,743 | — | — | 39,743 | |||||||||||
Accrued interest receivable | 1,854 | 1,854 | — | 312 | 1,542 | |||||||||||
Nonmarketable equity securities | 2,053 | N/A | N/A | N/A | N/A | |||||||||||
Financial liabilities | ||||||||||||||||
Deposits | ||||||||||||||||
Noninterest bearing | $ | 90,385 | $ | 90,385 | $ | 90,385 | $ | — | $ | — | ||||||
Interest bearing | 302,722 | 302,723 | — | 302,723 | — | |||||||||||
Time | 158,957 | 159,104 | — | 159,104 | — | |||||||||||
Borrowed funds | ||||||||||||||||
Short-term | 6,882 | 6,882 | 6,882 | — | — | |||||||||||
Long-term | 8,236 | 8,773 | — | 8,773 | — | |||||||||||
Accrued interest payable | 304 | 304 | — | 304 | — | |||||||||||
The carrying amounts in the preceding tables are included in the consolidated balance sheets under the applicable captions. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent Events |
Subsequent events represent events or transactions occurring after the balance sheet date but before the financial statements are issued. Financial statements are considered “issued” when they are widely distributed to shareholders and others for general use and reliance in a form and format that complies with GAAP. Events occurring subsequent to March 31, 2015 have been evaluated as to their potential impact to the consolidated financial statements. | |
On April 15, 2015, the Company declared a regular quarterly cash dividend of $0.27 per share, payable May 7, 2015, to stockholders of record on April 27, 2015. |
Basis_of_Presentation_Accounti
Basis of Presentation Accounting Policies (Policies) | 3 Months Ended | |
Mar. 31, 2015 | ||
Accounting Policies [Abstract] | ||
Basis of financial statement presentation [Policy Text Block] | The accompanying unaudited interim consolidated financial statements of Union Bankshares, Inc. and Subsidiary (the Company) as of March 31, 2015, and for the three months ended March 31, 2015 and 2014, have been prepared in conformity with GAAP for interim financial information, general practices within the banking industry, and the accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The Company's sole subsidiary is Union Bank. In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments and disclosures necessary for a fair presentation of the information contained herein, have been made. This information should be read in conjunction with the Company’s 2014 Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full fiscal year ending December 31, 2015, or any other interim period. | |
Certain amounts in the 2014 consolidated financial statements have been reclassified to conform to the 2015 presentation. | ||
Earnings per common share [Policy Text Block] | Earnings per common share are computed based on the weighted average number of shares of common stock outstanding during the period and reduced for shares held in treasury. The assumed conversion of outstanding exercisable stock options does not result in material dilution and is not included in the calculation. | |
Recent accounting pronouncements [Policy Text Block] | In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. The amendments in this ASU eliminate the concept of extraordinary items by eliminating the requirement to separately classify, present, and disclose extraordinary events and transactions. Although the amendments will eliminate the requirements for reporting entities to consider whether an underlying event or transactions is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2015. Management has reviewed the ASU and does not believe that it will have a material effect on the Company's consolidated financial position or results of operations. | |
In February 2015, the FASB issued ASU No. 2015-02, Consolidation: Amendments to the Consolidation Analysis. The amendments in this ASU affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this ASU are effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2015. Management has reviewed the ASU and does not believe that it will have a material effect on the Company's consolidated financial position or results of operations. | ||
Intangible assets [Policy Text Block] | As a result of the 2011 Branch Acquisition, the Company recorded goodwill amounting to $2.2 million. The goodwill is not amortizable. Goodwill is evaluated for impairment annually, in accordance with current authoritative accounting guidance. Management assesses qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the Company, in total, is less than its carrying amount. Management is not aware of any such events or circumstances that would cause it to conclude that the fair value of the Company is less than its carrying amount. | |
The Company also recorded $1.7 million of acquired identifiable intangible assets in connection with the 2011 Branch Acquisition, representing the core deposit intangible which is subject to straight-line amortization over the estimated 10 year average life of the core deposit base, absent any future impairment. Management will evaluate the core deposit intangible for impairment if conditions warrant. | ||
Investment securities [Policy Text Block] | The Company evaluates all investment securities on a quarterly basis, and more frequently when economic conditions warrant, to determine if OTTI exists. A security is considered impaired if the fair value is lower than its amortized cost basis at the report date. If impaired, management then assesses whether the unrealized loss is OTT. | |
Declines in the fair values of individual equity securities that are deemed to be OTT are reflected in noninterest income when identified. An unrealized loss on a debt security is generally deemed to be OTT and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. The credit loss component of OTTI write-down is recorded, net of tax effect, through net income as a component of net OTTI losses in the consolidated statement of income, while the remaining portion of the impairment loss is recognized in OCI, provided the Company does not intend to sell the underlying debt security and it is "more likely than not" that the Company will not have to sell the debt security prior to recovery. | ||
Management considers the following factors in determining whether OTTI exists and the period over which the debt security is expected to recover: | ||
• | The length of time, and extent to which, the fair value has been less than the amortized cost; | |
• | Adverse conditions specifically related to the security, industry, or geographic area; | |
• | The historical and implied volatility of the fair value of the security; | |
• | The payment structure of the debt security and the likelihood of the issuer being able to make payments that may increase in the future; | |
• | Failure of the issuer of the security to make scheduled interest or principal payments; | |
• | Any changes to the rating of the security by a rating agency; | |
• | Recoveries or additional declines in fair value subsequent to the balance sheet date; and | |
• | The nature of the issuer, including whether it is a private company, public entity or government-sponsored enterprise, and the existence or likelihood of any government or third party guaranty. | |
Loans [Policy Text Block] | Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their unpaid principal balances, adjusted for any charge-offs, the ALL, and any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. | |
Loan interest income is accrued daily on outstanding balances. The following accounting policies, related to accrual and nonaccrual loans, apply to all portfolio segments and loan classes, which the Company considers to be the same. The accrual of interest is normally discontinued when a loan is specifically determined to be impaired and/or management believes, after considering collection efforts and other factors, that the borrower's financial condition is such that collection of interest is doubtful. Generally, any unpaid interest previously accrued on those loans is reversed against current period interest income. A loan may be restored to accrual status when its financial status has significantly improved and there is no principal or interest past due. A loan may also be restored to accrual status if the borrower makes six consecutive monthly payments or the lump sum equivalent. Income on nonaccrual loans is generally not recognized unless a loan is returned to accrual status or after all principal has been collected. Interest income generally is not recognized on impaired loans unless the likelihood of further loss is remote. Interest payments received on such loans are generally recorded as a reduction of the loan principal balance. Delinquency status is determined based on contractual terms for all portfolio segments and loan classes. Loans past due 30 days or more are considered delinquent. | ||
Loan origination fees and direct loan origination costs are deferred and amortized as an adjustment of the related loan's yield using methods that approximate the interest method. The Company generally amortizes these amounts over the estimated average life of the related loans. | ||
The loans purchased in the 2011 Branch Acquisition were initially recorded at $32.9 million, the estimated fair value at the time of purchase. The estimated fair value contains both accretable and nonaccretable components. The accretable component is amortized as an adjustment to the related loan yield over the average life of the loan. The nonaccretable component represents probable loss due to credit risk and is reviewed by management periodically and adjusted as deemed necessary. | ||
Allowance for loan losses [Policy Text Block] | The ALL is established for estimated losses in the loan portfolio through a provision for loan losses charged to earnings. For all loan classes, loan losses are charged against the ALL when management believes the loan balance is uncollectible or in accordance with federal guidelines. Subsequent recoveries, if any, are credited to the ALL. | |
The ALL is maintained at a level believed by management to be appropriate to absorb probable credit losses inherent in the loan portfolio as of the balance sheet date. The amount of the ALL is based on management's periodic evaluation of the collectability of the loan portfolio, including the nature, volume and risk characteristics of the portfolio, credit concentrations, trends in historical loss experience, estimated value of any underlying collateral, specific impaired loans and economic conditions. There has been no change to the methodology used to estimate the ALL during the first quarter of 2015. While management uses available information to recognize losses on loans, future additions to the ALL may be necessary based on changes in economic conditions or other relevant factors. | ||
In addition, various regulatory agencies, as an integral part of their examination process, regularly review the Company's ALL. Such agencies may require the Company to recognize additions to the ALL, with a corresponding charge to earnings, based on their judgments about information available to them at the time of their examination, which may not be currently available to management. | ||
The ALL consists of specific, general and unallocated components. The specific component relates to the loans that are classified as impaired. Loans are evaluated for impairment and may be classified as impaired when management believes it is probable that the Company will not collect all the contractual interest and principal payments as scheduled in the loan agreement. Impaired loans may also include troubled loans that are restructured. A TDR occurs when the Company, for economic or legal reasons related to the borrower's financial difficulties, grants a concession to the borrower that would otherwise not be granted. A TDR classification may result from the transfer of assets to the Company in partial satisfaction of a troubled loan, a modification of a loan's terms (such as reduction of stated interest rates below market rates, extension of maturity that does not conform to the Company's policies, reduction of the face amount of the loan, reduction of accrued interest, or reduction or deferment of loan payments), or a combination. A specific reserve amount is allocated to the ALL for individual loans that have been classified as impaired based on management's estimate of the fair value of the collateral for collateral dependent loans, an observable market price, or the present value of anticipated future cash flows. The Company accounts for the change in present value attributable to the passage of time in the loan loss reserve. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer, real estate or small balance commercial loans for impairment evaluation, unless such loans are subject to a restructuring agreement or have been identified as impaired as part of a larger customer relationship. Management has established the threshold for individual impairment evaluation for commercial loans with balances greater than $500 thousand, based on an evaluation of the Company's historical loss experience on substandard commercial loans. | ||
The general component represents the level of ALL allocable to each loan portfolio segment with similar risk characteristics and is determined based on historical loss experience, adjusted for qualitative factors, for each class of loan. Management deems a five year average to be an appropriate time frame on which to base historical losses for each portfolio segment. Qualitative factors considered include underwriting, economic and market conditions, portfolio composition, collateral values, delinquencies, lender experience and legal issues. The qualitative factors are determined based on the various risk characteristics of each portfolio segment. Risk characteristics relevant to each portfolio segment are as follows: | ||
• | Residential real estate - Loans in this segment are collateralized by owner-occupied 1-4 family residential real estate, second and vacation homes, 1-4 family investment properties, home equity and second mortgage loans. Repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, could have an effect on the credit quality of this segment. | |
• | Construction real estate - Loans in this segment include residential and commercial construction properties, land and land development loans. Repayment is dependent on the credit quality of the individual borrower and/or the underlying cash flows generated by the properties being constructed. The overall health of the economy, including unemployment rates, housing prices, vacancy rates and material costs, could have an effect on the credit quality of this segment. | |
• | Commercial real estate - Loans in this segment are primarily properties occupied by businesses or income-producing properties. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by a general slowdown in business or increased vacancy rates which, in turn, could have an effect on the credit quality of this segment. Management requests business financial statements at least annually and monitors the cash flows of these loans. | |
• | Commercial - Loans in this segment are made to businesses and are generally secured by nonreal estate assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer or business spending, could have an effect on the credit quality of this segment. | |
• | Consumer - Loans in this segment are made to individuals for personal expenditures, such as an automobile purchase, and include unsecured loans. Repayment is primarily dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment, could have an effect on the credit quality of this segment. | |
• | Municipal - Loans in this segment are made to municipalities located within the Company's service area. Repayment is primarily dependent on taxes or other funds collected by the municipalities. Management considers there to be minimal risk surrounding the credit quality of this segment. | |
An unallocated component is maintained to cover uncertainties that could affect management's estimate of probable losses. The unallocated component of the ALL reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | ||
All evaluations are inherently subjective as they require estimates that are susceptible to significant revision as more information becomes available or as changes occur in economic conditions or other relevant factors. | ||
Pension plans [Policy Text Block] | Union sponsors a noncontributory defined benefit pension plan covering all eligible employees employed prior to October 5, 2012. On October 5, 2012, the Company closed the Plan to new participants and froze the accrual of retirement benefits for current participants. It is Union's current intent to continue to maintain the frozen Plan and related Trust account and to distribute benefits to participants at such time and in such manner as provided under the terms of the Plan. The Company will continue to recognize the pension benefit and cash funding obligations for the remaining life of the associated liability for the frozen benefits under the Plan. The Plan provides defined benefits based on years of service and final average salary prior to October 5, 2012. | |
Comprehensive income (loss) [Policy Text Block] | Accounting principles generally require recognized revenue, expenses, gains and losses be included in net income or loss. Certain changes in assets and liabilities, such as the after tax effect of unrealized gains and losses on investment securities AFS that are not OTTI and the unfunded liability for the defined benefit pension plan, are not reflected in the consolidated statement of income. The cumulative effect of such items, net of tax effect, is reported as a separate component of the equity section of the consolidated balance sheet (Accumulated OCI). OCI, along with net income, comprises the Company's total comprehensive income or loss. | |
Fair value measurements [Policy Text Block] | The Company utilizes FASB ASC Topic 820, Fair Value Measurements and Disclosures, as guidance for accounting for assets and liabilities carried at fair value. This standard defines fair value as the price that would be received, without adjustment for transaction costs, to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The guidance in FASB ASC Topic 820 establishes a three-level fair value hierarchy, which prioritizes the inputs used in measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |
The three levels of the fair value hierarchy are: | ||
• | Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
• | Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |
• | Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | As of March 31, 2015, the remaining amortization expense related to the core deposit intangible, absent any future impairment, is expected to be as follows: | |||
(Dollars in thousands) | ||||
2015 | $ | 128 | ||
2016 | 171 | |||
2017 | 171 | |||
2018 | 171 | |||
2019 | 171 | |||
Thereafter | 241 | |||
Total | $ | 1,053 | ||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Available-for-sale and held-to-maturity securities [Table Text Block] | Investment securities as of the balance sheet dates consisted of the following: | ||||||||||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 21,431 | $ | 81 | $ | (85 | ) | $ | 21,427 | ||||||||||||||||
Agency mortgage-backed | 6,882 | 153 | (2 | ) | 7,033 | ||||||||||||||||||||
State and political subdivisions | 17,678 | 429 | (30 | ) | 18,077 | ||||||||||||||||||||
Corporate | 10,767 | 201 | (42 | ) | 10,926 | ||||||||||||||||||||
Total debt securities | 56,758 | 864 | (159 | ) | 57,463 | ||||||||||||||||||||
Mutual funds | 335 | — | — | 335 | |||||||||||||||||||||
Total | $ | 57,093 | $ | 864 | $ | (159 | ) | $ | 57,798 | ||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 5,216 | $ | — | $ | (58 | ) | $ | 5,158 | ||||||||||||||||
December 31, 2014 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 15,563 | $ | 23 | $ | (145 | ) | $ | 15,441 | ||||||||||||||||
Agency mortgage-backed | 6,516 | 92 | (15 | ) | 6,593 | ||||||||||||||||||||
State and political subdivisions | 15,800 | 355 | (52 | ) | 16,103 | ||||||||||||||||||||
Corporate | 7,243 | 98 | (66 | ) | 7,275 | ||||||||||||||||||||
Total debt securities | 45,122 | 568 | (278 | ) | 45,412 | ||||||||||||||||||||
Mutual funds | 337 | — | — | 337 | |||||||||||||||||||||
Total | $ | 45,459 | $ | 568 | $ | (278 | ) | $ | 45,749 | ||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 7,215 | $ | — | $ | (161 | ) | $ | 7,054 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and estimated fair value of debt securities by contractual scheduled maturity as of March 31, 2015 were as follows: | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Due in one year or less | $ | 430 | $ | 440 | |||||||||||||||||||||
Due from one to five years | 12,515 | 12,605 | |||||||||||||||||||||||
Due from five to ten years | 22,803 | 23,170 | |||||||||||||||||||||||
Due after ten years | 14,128 | 14,215 | |||||||||||||||||||||||
49,876 | 50,430 | ||||||||||||||||||||||||
Agency mortgage-backed | 6,882 | 7,033 | |||||||||||||||||||||||
Total debt securities available-for-sale | $ | 56,758 | $ | 57,463 | |||||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
Due from one to five years | $ | 998 | $ | 998 | |||||||||||||||||||||
Due from five to ten years | 1,000 | 997 | |||||||||||||||||||||||
Due after ten years | 3,218 | 3,163 | |||||||||||||||||||||||
Total debt securities held-to-maturity | $ | 5,216 | $ | 5,158 | |||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | Information pertaining to all investment securities with gross unrealized losses as of the balance sheet dates, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: | ||||||||||||||||||||||||
March 31, 2015 | Less Than 12 Months | 12 Months and over | Total | ||||||||||||||||||||||
Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | |||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored | 6 | $ | 8,001 | $ | (63 | ) | 5 | $ | 4,023 | $ | (80 | ) | 11 | $ | 12,024 | $ | (143 | ) | |||||||
enterprises | |||||||||||||||||||||||||
Agency mortgage-backed | 1 | 322 | (2 | ) | — | — | — | 1 | 322 | (2 | ) | ||||||||||||||
State and political | 10 | 3,529 | (30 | ) | — | — | — | 10 | 3,529 | (30 | ) | ||||||||||||||
subdivisions | |||||||||||||||||||||||||
Corporate | 4 | 2,641 | (25 | ) | 2 | 1,000 | (17 | ) | 6 | 3,641 | (42 | ) | |||||||||||||
Total | 21 | $ | 14,493 | $ | (120 | ) | 7 | $ | 5,023 | $ | (97 | ) | 28 | $ | 19,516 | $ | (217 | ) | |||||||
December 31, 2014 | Less Than 12 Months | 12 Months and over | Total | ||||||||||||||||||||||
Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | Number of Securities | Fair | Gross | |||||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored | 6 | $ | 4,431 | $ | (16 | ) | 14 | $ | 12,307 | $ | (290 | ) | 20 | $ | 16,738 | $ | (306 | ) | |||||||
enterprises | |||||||||||||||||||||||||
Agency mortgage-backed | 2 | 611 | (10 | ) | 2 | 810 | (5 | ) | 4 | 1,421 | (15 | ) | |||||||||||||
State and political | 7 | 2,326 | (40 | ) | 3 | 878 | (12 | ) | 10 | 3,204 | (52 | ) | |||||||||||||
subdivisions | |||||||||||||||||||||||||
Corporate | 3 | 1,181 | (21 | ) | 3 | 1,472 | (45 | ) | 6 | 2,653 | (66 | ) | |||||||||||||
Total | 18 | $ | 8,549 | $ | (87 | ) | 22 | $ | 15,467 | $ | (352 | ) | 40 | $ | 24,016 | $ | (439 | ) | |||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | |||||||||||||||||||
Loans Acquired, Accretable Yield Roll Forward [Table Text Block] | The following table summarizes activity in the accretable loan premium component for the acquired loan portfolio: | ||||||||||||||||||
For The Three Months Ended March 31, | |||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Balance at beginning of period | $ | 292 | $ | 374 | |||||||||||||||
Loan premium amortization | (18 | ) | (20 | ) | |||||||||||||||
Balance at end of period | $ | 274 | $ | 354 | |||||||||||||||
Composition of Net Loans [Table Text Block] | The composition of Net loans as of the balance sheet dates were as follows: | ||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 165,276 | $ | 165,475 | |||||||||||||||
Construction real estate | 29,822 | 37,258 | |||||||||||||||||
Commercial real estate | 220,591 | 211,710 | |||||||||||||||||
Commercial | 20,922 | 20,620 | |||||||||||||||||
Consumer | 4,127 | 4,435 | |||||||||||||||||
Municipal | 52,275 | 40,480 | |||||||||||||||||
Gross loans | 493,013 | 479,978 | |||||||||||||||||
Allowance for loan losses | (4,773 | ) | (4,694 | ) | |||||||||||||||
Net deferred loan costs | 388 | 355 | |||||||||||||||||
Net loans | $ | 488,628 | $ | 475,639 | |||||||||||||||
Past Due Financing Receivables [Table Text Block] | A summary of current, past due and nonaccrual loans as of the balance sheet dates follows: | ||||||||||||||||||
March 31, 2015 | Current | 30-59 Days | 60-89 Days | 90 Days and Over and Accruing | Nonaccrual | Total | |||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 159,324 | $ | 3,794 | $ | 448 | $ | 264 | $ | 1,446 | $ | 165,276 | |||||||
Construction real estate | 29,660 | 103 | — | — | 59 | 29,822 | |||||||||||||
Commercial real estate | 216,882 | 1,024 | — | 2,135 | 550 | 220,591 | |||||||||||||
Commercial | 20,836 | 42 | 6 | — | 38 | 20,922 | |||||||||||||
Consumer | 4,120 | 4 | 2 | 1 | — | 4,127 | |||||||||||||
Municipal | 52,275 | — | — | — | — | 52,275 | |||||||||||||
Total | $ | 483,097 | $ | 4,967 | $ | 456 | $ | 2,400 | $ | 2,093 | $ | 493,013 | |||||||
December 31, 2014 | Current | 30-59 Days | 60-89 Days | 90 Days and Over and Accruing | Nonaccrual | Total | |||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Residential real estate | $ | 159,430 | $ | 2,278 | $ | 1,342 | $ | 890 | $ | 1,535 | $ | 165,475 | |||||||
Construction real estate | 37,075 | 112 | 10 | — | 61 | 37,258 | |||||||||||||
Commercial real estate | 207,325 | 2,194 | 173 | 1,454 | 564 | 211,710 | |||||||||||||
Commercial | 20,462 | 60 | 23 | — | 75 | 20,620 | |||||||||||||
Consumer | 4,391 | 36 | 8 | — | — | 4,435 | |||||||||||||
Municipal | 40,480 | — | — | — | — | 40,480 | |||||||||||||
Total | $ | 469,163 | $ | 4,680 | $ | 1,556 | $ | 2,344 | $ | 2,235 | $ | 479,978 | |||||||
Allowance_for_loan_losses_and_1
Allowance for loan losses and credit quality (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | |||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Changes in the ALL, by class of loans, for the three months ended March 31, 2015 and 2014 were as follows: | ||||||||||||||||||||||||
For The Three Months Ended March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 1,330 | $ | 439 | $ | 2,417 | $ | 176 | $ | 27 | $ | 42 | $ | 263 | $ | 4,694 | |||||||||
Provision (credit) for loan | 9 | (63 | ) | 251 | 20 | 10 | 12 | (139 | ) | 100 | |||||||||||||||
losses | |||||||||||||||||||||||||
Recoveries of amounts | — | 3 | — | — | 1 | — | — | 4 | |||||||||||||||||
charged off | |||||||||||||||||||||||||
1,339 | 379 | 2,668 | 196 | 38 | 54 | 124 | 4,798 | ||||||||||||||||||
Amounts charged off | — | — | — | (13 | ) | (12 | ) | — | — | (25 | ) | ||||||||||||||
Balance, March 31, 2015 | $ | 1,339 | $ | 379 | $ | 2,668 | $ | 183 | $ | 26 | $ | 54 | $ | 124 | $ | 4,773 | |||||||||
For The Three Months Ended March 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 1,251 | $ | 390 | $ | 2,644 | $ | 163 | $ | 23 | $ | 35 | $ | 141 | $ | 4,647 | |||||||||
Provision (credit) for loan | 21 | (19 | ) | (69 | ) | 5 | (4 | ) | 8 | 133 | 75 | ||||||||||||||
losses | |||||||||||||||||||||||||
Recoveries of amounts | 2 | 3 | — | 1 | 8 | — | — | 14 | |||||||||||||||||
charged off | |||||||||||||||||||||||||
1,274 | 374 | 2,575 | 169 | 27 | 43 | 274 | 4,736 | ||||||||||||||||||
Amounts charged off | (37 | ) | — | — | — | (5 | ) | — | — | (42 | ) | ||||||||||||||
Balance, March 31, 2014 | $ | 1,237 | $ | 374 | $ | 2,575 | $ | 169 | $ | 22 | $ | 43 | $ | 274 | $ | 4,694 | |||||||||
Allocation of Allowance for Loan Losses by Impairment Methodology [Table Text Block] | The allocation of the ALL, summarized on the basis of the Company's impairment methodology by class of loan, as of the balance sheet dates were as follows: | ||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 69 | $ | — | $ | 228 | $ | — | $ | — | $ | — | $ | — | $ | 297 | |||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 1,270 | 379 | 2,440 | 183 | 26 | 54 | 124 | 4,476 | |||||||||||||||||
for impairment | |||||||||||||||||||||||||
Total allocated | $ | 1,339 | $ | 379 | $ | 2,668 | $ | 183 | $ | 26 | $ | 54 | $ | 124 | $ | 4,773 | |||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Unallocated | Total | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 73 | $ | — | $ | 70 | $ | — | $ | — | $ | — | $ | — | $ | 143 | |||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 1,257 | 439 | 2,347 | 176 | 27 | 42 | 263 | 4,551 | |||||||||||||||||
for impairment | |||||||||||||||||||||||||
Total allocated | $ | 1,330 | $ | 439 | $ | 2,417 | $ | 176 | $ | 27 | $ | 42 | $ | 263 | $ | 4,694 | |||||||||
Allocation of Investment in Loans by Impairment Methodology [Table Text Block] | The recorded investment in loans, summarized on the basis of the Company's impairment methodology by class of loan, as of the balance sheet dates were as follows: | ||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 692 | $ | 252 | $ | 3,295 | $ | — | $ | — | $ | — | $ | 4,239 | |||||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 160,020 | 29,570 | 212,746 | 20,922 | 4,127 | 52,275 | 479,660 | ||||||||||||||||||
for impairment | |||||||||||||||||||||||||
160,712 | 29,822 | 216,041 | 20,922 | 4,127 | 52,275 | 483,899 | |||||||||||||||||||
Acquired loans | 4,564 | — | 4,550 | — | — | — | 9,114 | ||||||||||||||||||
Total | $ | 165,276 | $ | 29,822 | $ | 220,591 | $ | 20,922 | $ | 4,127 | $ | 52,275 | $ | 493,013 | |||||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Individually evaluated | $ | 950 | $ | 275 | $ | 3,332 | $ | 123 | $ | — | $ | — | $ | 4,680 | |||||||||||
for impairment | |||||||||||||||||||||||||
Collectively evaluated | 159,888 | 36,983 | 203,963 | 20,497 | 4,435 | 40,480 | 466,246 | ||||||||||||||||||
for impairment | |||||||||||||||||||||||||
160,838 | 37,258 | 207,295 | 20,620 | 4,435 | 40,480 | 470,926 | |||||||||||||||||||
Acquired loans | 4,637 | — | 4,415 | — | — | — | 9,052 | ||||||||||||||||||
Total | $ | 165,475 | $ | 37,258 | $ | 211,710 | $ | 20,620 | $ | 4,435 | $ | 40,480 | $ | 479,978 | |||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables summarize the loan ratings applied to the Company's loans by class as of the balance sheet dates: | ||||||||||||||||||||||||
March 31, 2015 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass | $ | 150,300 | $ | 24,697 | $ | 155,691 | $ | 19,011 | $ | 4,094 | $ | 52,275 | $ | 406,068 | |||||||||||
Satisfactory/Monitor | 8,136 | 4,840 | 54,607 | 1,697 | 29 | — | 69,309 | ||||||||||||||||||
Substandard | 2,276 | 285 | 5,743 | 214 | 4 | — | 8,522 | ||||||||||||||||||
Total | 160,712 | 29,822 | 216,041 | 20,922 | 4,127 | 52,275 | 483,899 | ||||||||||||||||||
Acquired loans | 4,564 | — | 4,550 | — | — | — | 9,114 | ||||||||||||||||||
Total | $ | 165,276 | $ | 29,822 | $ | 220,591 | $ | 20,922 | $ | 4,127 | $ | 52,275 | $ | 493,013 | |||||||||||
December 31, 2014 | Residential Real Estate | Construction Real Estate | Commercial Real Estate | Commercial | Consumer | Municipal | Total | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass | $ | 141,259 | $ | 31,519 | $ | 159,725 | $ | 18,960 | $ | 4,360 | $ | 40,480 | $ | 396,303 | |||||||||||
Satisfactory/Monitor | 17,483 | 5,347 | 41,728 | 1,384 | 70 | — | 66,012 | ||||||||||||||||||
Substandard | 2,096 | 392 | 5,842 | 276 | 5 | — | 8,611 | ||||||||||||||||||
Total | 160,838 | 37,258 | 207,295 | 20,620 | 4,435 | 40,480 | 470,926 | ||||||||||||||||||
Acquired loans | 4,637 | — | 4,415 | — | — | — | 9,052 | ||||||||||||||||||
Total | $ | 165,475 | $ | 37,258 | $ | 211,710 | $ | 20,620 | $ | 4,435 | $ | 40,480 | $ | 479,978 | |||||||||||
Impaired Financing Receivables [Table Text Block] | The following table provides information with respect to impaired loans by class of loan as of and for the three months ended March 31, 2015: | ||||||||||||||||||||||||
As of March 31, 2015 | For The Three Months Ended March 31, 2015 | ||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 529 | $ | 538 | $ | 69 | |||||||||||||||||||
Commercial real estate | 2,122 | 2,134 | 228 | ||||||||||||||||||||||
2,651 | 2,672 | 297 | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 163 | 271 | — | ||||||||||||||||||||||
Construction real estate | 252 | 275 | — | ||||||||||||||||||||||
Commercial real estate | 1,173 | 1,227 | — | ||||||||||||||||||||||
1,588 | 1,773 | — | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | 692 | 809 | 69 | $ | 821 | $ | 11 | ||||||||||||||||||
Construction real estate | 252 | 275 | — | 264 | 3 | ||||||||||||||||||||
Commercial real estate | 3,295 | 3,361 | 228 | 3,313 | 34 | ||||||||||||||||||||
Total | $ | 4,239 | $ | 4,445 | $ | 297 | $ | 4,459 | $ | 48 | |||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Does not reflect government guaranties on impaired loans as of March 31, 2015 totaling $240 thousand. | ||||||||||||||||||||||||
The following table provides information with respect to impaired loans by class of loan as of and for the three months ended March 31, 2014: | |||||||||||||||||||||||||
As of March 31, 2014 | For The Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | $ | 651 | $ | 829 | $ | 41 | $ | 736 | $ | 5 | |||||||||||||||
Construction real estate | 348 | 371 | 3 | 348 | 4 | ||||||||||||||||||||
Commercial real estate | 4,232 | 4,276 | 134 | 4,226 | 42 | ||||||||||||||||||||
Commercial | 106 | 106 | — | 107 | 2 | ||||||||||||||||||||
Total | $ | 5,337 | $ | 5,582 | $ | 178 | $ | 5,417 | $ | 53 | |||||||||||||||
The following table provides information with respect to impaired loans as of December 31, 2014: | |||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Principal Balance | Related Allowance | |||||||||||||||||||||||
-1 | -1 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 537 | $ | 546 | $ | 73 | |||||||||||||||||||
Commercial real estate | 2,127 | 2,136 | 70 | ||||||||||||||||||||||
2,664 | 2,682 | 143 | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 412 | 602 | — | ||||||||||||||||||||||
Construction real estate | 275 | 298 | — | ||||||||||||||||||||||
Commercial real estate | 1,205 | 1,256 | — | ||||||||||||||||||||||
Commercial | 123 | 172 | — | ||||||||||||||||||||||
2,015 | 2,328 | — | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Residential real estate | 949 | 1,148 | 73 | ||||||||||||||||||||||
Construction real estate | 275 | 298 | — | ||||||||||||||||||||||
Commercial real estate | 3,332 | 3,392 | 70 | ||||||||||||||||||||||
Commercial | 123 | 172 | — | ||||||||||||||||||||||
Total | $ | 4,679 | $ | 5,010 | $ | 143 | |||||||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Does not reflect government guaranties on impaired loans as of December 31, 2014 totaling $244 thousand. | ||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following is a summary of TDR loans by class of loan as of the balance sheet dates: | ||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||
Number of Loans | Principal Balance | Number of Loans | Principal Balance | ||||||||||||||||||||||
Residential real estate | 5 | $ | 692 | 5 | $ | 704 | |||||||||||||||||||
Construction real estate | 3 | 252 | 3 | 276 | |||||||||||||||||||||
Commercial real estate | 3 | 702 | 3 | 711 | |||||||||||||||||||||
Total | 11 | $ | 1,646 | 11 | $ | 1,691 | |||||||||||||||||||
New Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table provides new TDR activity for the three months ended March 31, 2014: | ||||||||||||||||||||||||
New TDRs During the | |||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial real estate | 2 | $ | 1,018 | $ | 1,068 | ||||||||||||||||||||
Defined_Benefit_Pension_Plan_T
Defined Benefit Pension Plan (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||
Schedule of Net Benefit Costs [Table Text Block] | Net periodic pension benefit for the three months ended March 31 consisted of the following components: | ||||||
Three Months Ended | |||||||
March 31, | |||||||
2015 | 2014 | ||||||
(Dollars in thousands) | |||||||
Service cost | $ | — | $ | — | |||
Interest cost on projected benefit obligation | 170 | 193 | |||||
Expected return on plan assets | (286 | ) | (298 | ) | |||
Amortization of prior service cost | — | — | |||||
Amortization of net loss | 14 | — | |||||
Net periodic benefit | $ | (102 | ) | $ | (105 | ) |
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract] | |||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As of the balance sheet dates, the components of Accumulated OCI, net of tax, were: | ||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Net unrealized gain on investment securities available-for-sale | $ | 466 | $ | 192 | |||||||||||||||
Defined benefit pension plan net unrealized actuarial loss | (1,572 | ) | (1,572 | ) | |||||||||||||||
Total | $ | (1,106 | ) | $ | (1,380 | ) | |||||||||||||
Schedule of Comprehensive Income (Loss) [Table Text Block] | The following table discloses the tax effects allocated to each component of OCI for the three months ended March 31: | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||
Before-Tax Amount | Tax | Net-of-Tax Amount | Before-Tax Amount | Tax (Expense) Benefit | Net-of-Tax Amount | ||||||||||||||
Benefit | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||
Net unrealized holding gains arising during the period on investment securities available-for-sale | $ | 415 | $ | (141 | ) | $ | 274 | $ | 583 | $ | (198 | ) | $ | 385 | |||||
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income | — | — | — | (43 | ) | 15 | (28 | ) | |||||||||||
Total other comprehensive income | $ | 415 | $ | (141 | ) | $ | 274 | $ | 540 | $ | (183 | ) | $ | 357 | |||||
Schedule of Comprehensive Income Reclassification Adjustments [Table Text Block] | The following table discloses information concerning the reclassification adjustments from OCI for the three months ended March 31: | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||
Reclassification Adjustment Description | March 31, 2015 | March 31, 2014 | Affected Line Item in | ||||||||||||||||
Consolidated Statement of Income | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||
Net gains on investment securities available-for-sale | $ | — | $ | (43 | ) | Net gains on sales of investment securities available-for-sale | |||||||||||||
Tax benefit | — | 15 | Provision for income taxes | ||||||||||||||||
Total reclassifications | $ | — | $ | (28 | ) | Net income | |||||||||||||
Fair_Value_Measurements_and_Di1
Fair Value Measurements and Disclosures (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Assets measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014, segregated by fair value hierarchy level, are summarized below: | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
Fair | Quoted Prices | Significant | Significant | |||||||||||||
Value | in Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
March 31, 2015: | ||||||||||||||||
Investment securities available-for-sale (market approach) | ||||||||||||||||
Debt securities: | ||||||||||||||||
U.S. Government-sponsored enterprises | $ | 21,427 | $ | — | $ | 21,427 | $ | — | ||||||||
Agency mortgage-backed | 7,033 | — | 7,033 | — | ||||||||||||
State and political subdivisions | 18,077 | — | 18,077 | — | ||||||||||||
Corporate | 10,926 | — | 10,926 | — | ||||||||||||
Total debt securities | 57,463 | — | 57,463 | — | ||||||||||||
Mutual funds | 335 | 335 | — | — | ||||||||||||
Total | $ | 57,798 | $ | 335 | $ | 57,463 | $ | — | ||||||||
December 31, 2014: | ||||||||||||||||
Investment securities available-for-sale (market approach) | ||||||||||||||||
Debt securities: | ||||||||||||||||
U.S. Government-sponsored enterprises | $ | 15,441 | $ | — | $ | 15,441 | $ | — | ||||||||
Agency mortgage-backed | 6,593 | — | 6,593 | — | ||||||||||||
State and political subdivisions | 16,103 | — | 16,103 | — | ||||||||||||
Corporate | 7,275 | — | 7,275 | — | ||||||||||||
Total debt securities | 45,412 | — | 45,412 | — | ||||||||||||
Mutual funds | 337 | 337 | — | — | ||||||||||||
Total | $ | 45,749 | $ | 337 | $ | 45,412 | $ | — | ||||||||
Fair Values and Carrying Amounts, Significant Financial Instruments [Table Text Block] | As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows: | |||||||||||||||
March 31, 2015 | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
Carrying | Estimated Fair | Quoted Prices | Significant | Significant | ||||||||||||
Amount | Value | in Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Financial assets | ||||||||||||||||
Cash and cash equivalents | $ | 13,151 | $ | 13,151 | $ | 13,151 | $ | — | $ | — | ||||||
Interest bearing deposits in banks | 13,102 | 13,096 | — | 13,096 | — | |||||||||||
Investment securities | 63,014 | 62,956 | 335 | 62,621 | — | |||||||||||
Loans held for sale | 8,257 | 8,545 | — | 8,545 | — | |||||||||||
Loans, net | ||||||||||||||||
Residential real estate | 164,068 | 166,497 | — | — | 166,497 | |||||||||||
Construction real estate | 29,466 | 30,463 | — | — | 30,463 | |||||||||||
Commercial real estate | 217,973 | 221,983 | — | — | 221,983 | |||||||||||
Commercial | 20,755 | 20,172 | — | — | 20,172 | |||||||||||
Consumer | 4,104 | 4,037 | — | — | 4,037 | |||||||||||
Municipal | 52,262 | 53,437 | — | — | 53,437 | |||||||||||
Accrued interest receivable | 2,082 | 2,082 | — | 395 | 1,687 | |||||||||||
Nonmarketable equity securities | 2,053 | N/A | N/A | N/A | N/A | |||||||||||
Financial liabilities | ||||||||||||||||
Deposits | ||||||||||||||||
Noninterest bearing | $ | 97,198 | $ | 97,198 | $ | 97,198 | $ | — | $ | — | ||||||
Interest bearing | 303,232 | 303,233 | — | 303,233 | — | |||||||||||
Time | 146,378 | 146,560 | — | 146,560 | — | |||||||||||
Borrowed funds | ||||||||||||||||
Short-term | 10,423 | 10,423 | 10,423 | — | — | |||||||||||
Long-term | 8,164 | 8,673 | — | 8,673 | — | |||||||||||
Accrued interest payable | 487 | 487 | — | 487 | — | |||||||||||
December 31, 2014 | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
Carrying | Estimated Fair | Quoted Prices | Significant | Significant | ||||||||||||
Amount | Value | in Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||||
Assets | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Financial assets | ||||||||||||||||
Cash and cash equivalents | $ | 41,744 | $ | 41,744 | $ | 41,744 | $ | — | $ | — | ||||||
Interest bearing deposits in banks | 12,252 | 12,248 | — | 12,248 | — | |||||||||||
Investment securities | 52,964 | 52,803 | 337 | 52,466 | — | |||||||||||
Loans held for sale | 10,743 | 11,036 | — | 11,036 | — | |||||||||||
Loans, net | ||||||||||||||||
Residential real estate | 164,267 | 166,780 | — | — | 166,780 | |||||||||||
Construction real estate | 36,847 | 36,876 | — | — | 36,876 | |||||||||||
Commercial real estate | 209,187 | 214,184 | — | — | 214,184 | |||||||||||
Commercial | 20,459 | 19,859 | — | — | 19,859 | |||||||||||
Consumer | 4,411 | 4,379 | — | — | 4,379 | |||||||||||
Municipal | 40,468 | 39,743 | — | — | 39,743 | |||||||||||
Accrued interest receivable | 1,854 | 1,854 | — | 312 | 1,542 | |||||||||||
Nonmarketable equity securities | 2,053 | N/A | N/A | N/A | N/A | |||||||||||
Financial liabilities | ||||||||||||||||
Deposits | ||||||||||||||||
Noninterest bearing | $ | 90,385 | $ | 90,385 | $ | 90,385 | $ | — | $ | — | ||||||
Interest bearing | 302,722 | 302,723 | — | 302,723 | — | |||||||||||
Time | 158,957 | 159,104 | — | 159,104 | — | |||||||||||
Borrowed funds | ||||||||||||||||
Short-term | 6,882 | 6,882 | 6,882 | — | — | |||||||||||
Long-term | 8,236 | 8,773 | — | 8,773 | — | |||||||||||
Accrued interest payable | 304 | 304 | — | 304 | — | |||||||||||
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets Core Deposit Intangible Amortization (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
2015 | $128 | |
2016 | 171 | |
2017 | 171 | |
2018 | 171 | |
2019 | 171 | |
Thereafter | 241 | |
Total | $1,053 | $1,096 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets Narrative Data (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | 27-May-11 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill at Acquisition | $2,200,000 | ||
Core Deposit Intangible at Acquisition | 1,700,000 | ||
Amortization of core deposit intangible | $43,000 | $43,000 |
Investment_Securities_Availabl
Investment Securities Available-for-sale and held-to-maturity securities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities | ||
Amortized Cost | $56,758 | |
Amortized Cost | 57,093 | 45,459 |
Gross Unrealized Gains | 864 | 568 |
Gross Unrealized Losses | -159 | -278 |
Fair Value | 57,463 | |
Investment securities available-for-sale | 57,798 | 45,749 |
Held-to-maturity Securities [Abstract] | ||
Amortized Cost | 5,216 | 7,215 |
Fair Value | 5,158 | 7,100 |
US Government-sponsored enterprises [Member] | ||
Available-for-sale Securities | ||
Amortized Cost | 21,431 | 15,563 |
Gross Unrealized Gains | 81 | 23 |
Gross Unrealized Losses | -85 | -145 |
Fair Value | 21,427 | 15,441 |
Investment securities available-for-sale | 21,427 | 15,441 |
Held-to-maturity Securities [Abstract] | ||
Amortized Cost | 5,216 | 7,215 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -58 | -161 |
Fair Value | 5,158 | 7,054 |
Agency mortgage-backed [Member] | ||
Available-for-sale Securities | ||
Amortized Cost | 6,882 | 6,516 |
Gross Unrealized Gains | 153 | 92 |
Gross Unrealized Losses | -2 | -15 |
Fair Value | 7,033 | 6,593 |
Investment securities available-for-sale | 7,033 | 6,593 |
State and political subdivisions [Member] | ||
Available-for-sale Securities | ||
Amortized Cost | 17,678 | 15,800 |
Gross Unrealized Gains | 429 | 355 |
Gross Unrealized Losses | -30 | -52 |
Fair Value | 18,077 | 16,103 |
Investment securities available-for-sale | 18,077 | 16,103 |
Corporate [Member] | ||
Available-for-sale Securities | ||
Amortized Cost | 10,767 | 7,243 |
Gross Unrealized Gains | 201 | 98 |
Gross Unrealized Losses | -42 | -66 |
Fair Value | 10,926 | 7,275 |
Investment securities available-for-sale | 10,926 | 7,275 |
Total debt securities [Member] | ||
Available-for-sale Securities | ||
Amortized Cost | 56,758 | 45,122 |
Gross Unrealized Gains | 864 | 568 |
Gross Unrealized Losses | -159 | -278 |
Fair Value | 57,463 | 45,412 |
Investment securities available-for-sale | 57,463 | 45,412 |
Mutual funds [Member] | ||
Available-for-sale Securities | ||
Mutual Funds, Amortized Cost | 335 | 337 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Mutual Funds, Fair Value | 335 | 337 |
Investment securities available-for-sale | $335 | $337 |
Investment_Securities_Debt_Sec
Investment Securities Debt Securities by Contactual Maturity (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities | ||
Due in one year or less, Amortized Cost | $430 | |
Due from one to five years, Amortized Cost | 12,515 | |
Due from five to ten years, Amortized Cost | 22,803 | |
Due after ten years, Amortized Cost | 14,128 | |
Debt Securities with Single Maturity Date, Amortized Cost | 49,876 | |
Agency mortgage-backed, Amortized Cost | 6,882 | |
Total debt securities available-for-sale, Amortized Cost | 56,758 | |
Due in one year or less, Fair Value | 440 | |
Due from one to five years, Fair Value | 12,605 | |
Due from five to ten years, Fair Value | 23,170 | |
Due after ten years, Fair Value | 14,215 | |
Debt Securities with Single Maturity Date, Fair Value | 50,430 | |
Agency mortgage-backed, Fair Value | 7,033 | |
Total debt securities available-for-sale, Fair Value | 57,463 | |
Held-to-maturity Securities [Abstract] | ||
Due from one to five years, Amortized Cost | 998 | |
Due from five to ten years, Amortized Cost | 1,000 | |
Due after ten years, Amortized Cost | 3,218 | |
Total debt securities held-to-maturity, Amortized Cost | 5,216 | 7,215 |
Due from one to five years, Fair Value | 998 | |
Due from five to ten years, Fair Value | 997 | |
Due after ten years, Fair Value | 3,163 | |
Total debt securities held-to-maturity, Fair Value | $5,158 | $7,100 |
Investment_Securities_Schedule
Investment Securities Schedule of Unrealized Loss on Investments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | Securities | Securities |
Investment Securities | ||
Less than 12 Months, Number of Securities | 21 | 18 |
Less than 12 Months, Fair Value | $14,493 | $8,549 |
Less than 12 Months, Gross Unrealized Losses | -120 | -87 |
12 Months and over, Number of Securities | 7 | 22 |
12 Months and over, Fair Value | 5,023 | 15,467 |
12 Months and over, Gross Unrealized Losses | -97 | -352 |
Total, Number of Securities | 28 | 40 |
Total, Fair Value | 19,516 | 24,016 |
Total, Gross Unrealized Losses | -217 | -439 |
US Government-sponsored enterprises [Member] | ||
Investment Securities | ||
Less than 12 Months, Number of Securities | 6 | 6 |
Less than 12 Months, Fair Value | 8,001 | 4,431 |
Less than 12 Months, Gross Unrealized Losses | -63 | -16 |
12 Months and over, Number of Securities | 5 | 14 |
12 Months and over, Fair Value | 4,023 | 12,307 |
12 Months and over, Gross Unrealized Losses | -80 | -290 |
Total, Number of Securities | 11 | 20 |
Total, Fair Value | 12,024 | 16,738 |
Total, Gross Unrealized Losses | -143 | -306 |
Agency mortgage-backed [Member] | ||
Investment Securities | ||
Less than 12 Months, Number of Securities | 1 | 2 |
Less than 12 Months, Fair Value | 322 | 611 |
Less than 12 Months, Gross Unrealized Losses | -2 | -10 |
12 Months and over, Number of Securities | 0 | 2 |
12 Months and over, Fair Value | 0 | 810 |
12 Months and over, Gross Unrealized Losses | 0 | -5 |
Total, Number of Securities | 1 | 4 |
Total, Fair Value | 322 | 1,421 |
Total, Gross Unrealized Losses | -2 | -15 |
State and political subdivisions [Member] | ||
Investment Securities | ||
Less than 12 Months, Number of Securities | 10 | 7 |
Less than 12 Months, Fair Value | 3,529 | 2,326 |
Less than 12 Months, Gross Unrealized Losses | -30 | -40 |
12 Months and over, Number of Securities | 0 | 3 |
12 Months and over, Fair Value | 0 | 878 |
12 Months and over, Gross Unrealized Losses | 0 | -12 |
Total, Number of Securities | 10 | 10 |
Total, Fair Value | 3,529 | 3,204 |
Total, Gross Unrealized Losses | -30 | -52 |
Corporate [Member] | ||
Investment Securities | ||
Less than 12 Months, Number of Securities | 4 | 3 |
Less than 12 Months, Fair Value | 2,641 | 1,181 |
Less than 12 Months, Gross Unrealized Losses | -25 | -21 |
12 Months and over, Number of Securities | 2 | 3 |
12 Months and over, Fair Value | 1,000 | 1,472 |
12 Months and over, Gross Unrealized Losses | -17 | -45 |
Total, Number of Securities | 6 | 6 |
Total, Fair Value | 3,641 | 2,653 |
Total, Gross Unrealized Losses | ($42) | ($66) |
Investment_Securities_Narrativ
Investment Securities Narrative Data (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Available-for-sale Securities | |||
Proceeds from sale of available-for-sale securities | $0 | $2,500,000 | |
Gross Realized Gains from sale of available-for-sale securities | 0 | 43,000 | |
Other than Temporary Declines in Available-for-sale Securities | 0 | ||
Available-for-sale Securities Pledged as Collateral | $5,700,000 | $6,500,000 |
Loans_Accretable_Yield_Roll_Fo
Loans Accretable Yield Roll Forward (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | 27-May-11 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | $292 | $374 | $545 |
Loan premium amortization | -18 | -20 | |
Balance at end of period | $274 | $354 | $545 |
Loans_Composition_of_Net_Loans
Loans Composition of Net Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $493,013 | $479,978 | ||
Allowance for loan losses | -4,773 | -4,694 | -4,694 | -4,647 |
Net deferred loan costs | 388 | 355 | ||
Net loans | 488,628 | 475,639 | ||
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 165,276 | 165,475 | ||
Allowance for loan losses | -1,339 | -1,330 | -1,237 | -1,251 |
Construction Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 29,822 | 37,258 | ||
Allowance for loan losses | -379 | -439 | -374 | -390 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 220,591 | 211,710 | ||
Allowance for loan losses | -2,668 | -2,417 | -2,575 | -2,644 |
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 20,922 | 20,620 | ||
Allowance for loan losses | -183 | -176 | -169 | -163 |
Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 4,127 | 4,435 | ||
Allowance for loan losses | -26 | -27 | -22 | -23 |
Municipal [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 52,275 | 40,480 | ||
Allowance for loan losses | ($54) | ($42) | ($43) | ($35) |
Loans_Past_Due_Loans_Details
Loans Past Due Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | $483,097 | $469,163 |
Loans, Nonaccrual | 2,093 | 2,235 |
Loans | 493,013 | 479,978 |
30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 4,967 | 4,680 |
60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 456 | 1,556 |
90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 2,400 | 2,344 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 159,324 | 159,430 |
Loans, Nonaccrual | 1,446 | 1,535 |
Loans | 165,276 | 165,475 |
Residential Real Estate [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 3,794 | 2,278 |
Residential Real Estate [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 448 | 1,342 |
Residential Real Estate [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 264 | 890 |
Construction Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 29,660 | 37,075 |
Loans, Nonaccrual | 59 | 61 |
Loans | 29,822 | 37,258 |
Construction Real Estate [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 103 | 112 |
Construction Real Estate [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 10 |
Construction Real Estate [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 216,882 | 207,325 |
Loans, Nonaccrual | 550 | 564 |
Loans | 220,591 | 211,710 |
Commercial Real Estate [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 1,024 | 2,194 |
Commercial Real Estate [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 173 |
Commercial Real Estate [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 2,135 | 1,454 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 20,836 | 20,462 |
Loans, Nonaccrual | 38 | 75 |
Loans | 20,922 | 20,620 |
Commercial [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 42 | 60 |
Commercial [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 6 | 23 |
Commercial [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 4,120 | 4,391 |
Loans, Nonaccrual | 0 | 0 |
Loans | 4,127 | 4,435 |
Consumer [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 4 | 36 |
Consumer [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 2 | 8 |
Consumer [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 1 | 0 |
Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Current | 52,275 | 40,480 |
Loans, Nonaccrual | 0 | 0 |
Loans | 52,275 | 40,480 |
Municipal [Member] | 30 - 59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 0 |
Municipal [Member] | 60 - 89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | 0 | 0 |
Municipal [Member] | 90 Days and Over and Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Past Due | $0 | $0 |
Loans_Narrative_Data_Details
Loans Narrative Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | 27-May-11 | |
loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Estimated fair value of loans purchased at acquisition | $32,900,000 | ||||
Accretable loan premium component | 274,000 | 354,000 | 292,000 | 374,000 | 545,000 |
Nonaccretable credit risk component | 193,000 | 193,000 | 318,000 | ||
Acquired loans | 9,114,000 | 9,052,000 | |||
Loans Pledged as Collateral | 28,500,000 | 37,800,000 | |||
Residential real estate loans in process of foreclosure | 3 | ||||
Interest on Nonaccrual Loans not recognized | $1,100,000 | $1,000,000 | $1,100,000 |
Allowance_for_loan_losses_and_2
Allowance for loan losses and credit quality Allowance for Loan Losses, by Class of Loans (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | $4,694 | $4,647 |
Provision (credit) for loan losses | 100 | 75 |
Recoveries of amounts charged off | 4 | 14 |
Balance, before amounts charged off | 4,798 | 4,736 |
Amounts charged off | -25 | -42 |
Balance, End of Period | 4,773 | 4,694 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 1,330 | 1,251 |
Provision (credit) for loan losses | 9 | 21 |
Recoveries of amounts charged off | 0 | 2 |
Balance, before amounts charged off | 1,339 | 1,274 |
Amounts charged off | 0 | -37 |
Balance, End of Period | 1,339 | 1,237 |
Construction Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 439 | 390 |
Provision (credit) for loan losses | -63 | -19 |
Recoveries of amounts charged off | 3 | 3 |
Balance, before amounts charged off | 379 | 374 |
Amounts charged off | 0 | 0 |
Balance, End of Period | 379 | 374 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 2,417 | 2,644 |
Provision (credit) for loan losses | 251 | -69 |
Recoveries of amounts charged off | 0 | 0 |
Balance, before amounts charged off | 2,668 | 2,575 |
Amounts charged off | 0 | 0 |
Balance, End of Period | 2,668 | 2,575 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 176 | 163 |
Provision (credit) for loan losses | 20 | 5 |
Recoveries of amounts charged off | 0 | 1 |
Balance, before amounts charged off | 196 | 169 |
Amounts charged off | -13 | 0 |
Balance, End of Period | 183 | 169 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 27 | 23 |
Provision (credit) for loan losses | 10 | -4 |
Recoveries of amounts charged off | 1 | 8 |
Balance, before amounts charged off | 38 | 27 |
Amounts charged off | -12 | -5 |
Balance, End of Period | 26 | 22 |
Municipal [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 42 | 35 |
Provision (credit) for loan losses | 12 | 8 |
Recoveries of amounts charged off | 0 | 0 |
Balance, before amounts charged off | 54 | 43 |
Amounts charged off | 0 | 0 |
Balance, End of Period | 54 | 43 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Balance, Beginning of Period | 263 | 141 |
Provision (credit) for loan losses | -139 | 133 |
Recoveries of amounts charged off | 0 | 0 |
Balance, before amounts charged off | 124 | 274 |
Amounts charged off | 0 | 0 |
Balance, End of Period | $124 | $274 |
Allowance_for_loan_losses_and_3
Allowance for loan losses and credit quality Allocation of the Allowance for Loan Losses (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | $297 | $143 | ||
Collectively evaluated for impairment | 4,476 | 4,551 | ||
Total allocated | 4,773 | 4,694 | 4,694 | 4,647 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 69 | 73 | ||
Collectively evaluated for impairment | 1,270 | 1,257 | ||
Total allocated | 1,339 | 1,330 | 1,237 | 1,251 |
Construction Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 379 | 439 | ||
Total allocated | 379 | 439 | 374 | 390 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 228 | 70 | ||
Collectively evaluated for impairment | 2,440 | 2,347 | ||
Total allocated | 2,668 | 2,417 | 2,575 | 2,644 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 183 | 176 | ||
Total allocated | 183 | 176 | 169 | 163 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 26 | 27 | ||
Total allocated | 26 | 27 | 22 | 23 |
Municipal [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 54 | 42 | ||
Total allocated | 54 | 42 | 43 | 35 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 124 | 263 | ||
Total allocated | $124 | $263 | $274 | $141 |
Allowance_for_loan_losses_and_4
Allowance for loan losses and credit quality Allocation of Investment in Loans, by Impairment Methodology (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | $4,239 | $4,680 |
Collectively evaluated for impairment | 479,660 | 466,246 |
Loans Not Acquired | 483,899 | 470,926 |
Acquired loans | 9,114 | 9,052 |
Loans | 493,013 | 479,978 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 692 | 950 |
Collectively evaluated for impairment | 160,020 | 159,888 |
Loans Not Acquired | 160,712 | 160,838 |
Acquired loans | 4,564 | 4,637 |
Loans | 165,276 | 165,475 |
Construction Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 252 | 275 |
Collectively evaluated for impairment | 29,570 | 36,983 |
Loans Not Acquired | 29,822 | 37,258 |
Acquired loans | 0 | 0 |
Loans | 29,822 | 37,258 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 3,295 | 3,332 |
Collectively evaluated for impairment | 212,746 | 203,963 |
Loans Not Acquired | 216,041 | 207,295 |
Acquired loans | 4,550 | 4,415 |
Loans | 220,591 | 211,710 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 0 | 123 |
Collectively evaluated for impairment | 20,922 | 20,497 |
Loans Not Acquired | 20,922 | 20,620 |
Acquired loans | 0 | 0 |
Loans | 20,922 | 20,620 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 4,127 | 4,435 |
Loans Not Acquired | 4,127 | 4,435 |
Acquired loans | 0 | 0 |
Loans | 4,127 | 4,435 |
Municipal [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 52,275 | 40,480 |
Loans Not Acquired | 52,275 | 40,480 |
Acquired loans | 0 | 0 |
Loans | $52,275 | $40,480 |
Allowance_for_loan_losses_and_5
Allowance for loan losses and credit quality Loan Ratings by Class (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | $483,899 | $470,926 |
Acquired loans | 9,114 | 9,052 |
Loans | 493,013 | 479,978 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 406,068 | 396,303 |
Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 69,309 | 66,012 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,522 | 8,611 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 160,712 | 160,838 |
Acquired loans | 4,564 | 4,637 |
Loans | 165,276 | 165,475 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 150,300 | 141,259 |
Residential Real Estate [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,136 | 17,483 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,276 | 2,096 |
Construction Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 29,822 | 37,258 |
Acquired loans | 0 | 0 |
Loans | 29,822 | 37,258 |
Construction Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 24,697 | 31,519 |
Construction Real Estate [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,840 | 5,347 |
Construction Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 285 | 392 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 216,041 | 207,295 |
Acquired loans | 4,550 | 4,415 |
Loans | 220,591 | 211,710 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 155,691 | 159,725 |
Commercial Real Estate [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 54,607 | 41,728 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,743 | 5,842 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 20,922 | 20,620 |
Acquired loans | 0 | 0 |
Loans | 20,922 | 20,620 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 19,011 | 18,960 |
Commercial [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,697 | 1,384 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 214 | 276 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 4,127 | 4,435 |
Acquired loans | 0 | 0 |
Loans | 4,127 | 4,435 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,094 | 4,360 |
Consumer [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 29 | 70 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4 | 5 |
Municipal [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Not Acquired | 52,275 | 40,480 |
Acquired loans | 0 | 0 |
Loans | 52,275 | 40,480 |
Municipal [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 52,275 | 40,480 |
Municipal [Member] | Satisfactory/Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Municipal [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $0 | $0 |
Allowance_for_loan_losses_and_6
Allowance for loan losses and credit quality Impaired Loans by Class (Details) (USD $) | 3 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||
Financing Receivable, Impaired [Line Items] | |||||
With an alowance recorded, Recorded Investment | $2,651 | [1] | $2,664 | [2] | |
With an allowance recorded, Principal Balance | 2,672 | [1] | 2,682 | [2] | |
Related Allowance | 297 | 178 | 143 | ||
With no allowance recorded, Recorded Investment | 1,588 | 2,015 | |||
With no allowance recorded, Principal Balance | 1,773 | 2,328 | |||
Total, Recorded Investment | 4,239 | [1] | 5,337 | 4,679 | [2] |
Total, Principal Balance | 4,445 | [1] | 5,582 | 5,010 | [2] |
Total, Average Recorded Investment | 4,459 | 5,417 | |||
Total, Interest Income Recognized | 48 | 53 | |||
Government Guarantees on Impaired Loans | -240 | -244 | |||
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With an alowance recorded, Recorded Investment | 529 | [1] | 537 | [2] | |
With an allowance recorded, Principal Balance | 538 | [1] | 546 | [2] | |
Related Allowance | 69 | 41 | 73 | ||
With no allowance recorded, Recorded Investment | 163 | 412 | |||
With no allowance recorded, Principal Balance | 271 | 602 | |||
Total, Recorded Investment | 692 | [1] | 651 | 949 | [2] |
Total, Principal Balance | 809 | [1] | 829 | 1,148 | [2] |
Total, Average Recorded Investment | 821 | 736 | |||
Total, Interest Income Recognized | 11 | 5 | |||
Construction Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Related Allowance | 0 | 3 | 0 | ||
With no allowance recorded, Recorded Investment | 252 | 275 | |||
With no allowance recorded, Principal Balance | 275 | 298 | |||
Total, Recorded Investment | 252 | 348 | 275 | ||
Total, Principal Balance | 275 | 371 | 298 | ||
Total, Average Recorded Investment | 264 | 348 | |||
Total, Interest Income Recognized | 3 | 4 | |||
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With an alowance recorded, Recorded Investment | 2,122 | 2,127 | |||
With an allowance recorded, Principal Balance | 2,134 | 2,136 | |||
Related Allowance | 228 | 134 | 70 | ||
With no allowance recorded, Recorded Investment | 1,173 | 1,205 | |||
With no allowance recorded, Principal Balance | 1,227 | 1,256 | |||
Total, Recorded Investment | 3,295 | 4,232 | 3,332 | ||
Total, Principal Balance | 3,361 | 4,276 | 3,392 | ||
Total, Average Recorded Investment | 3,313 | 4,226 | |||
Total, Interest Income Recognized | 34 | 42 | |||
Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Related Allowance | 0 | 0 | |||
With no allowance recorded, Recorded Investment | 123 | ||||
With no allowance recorded, Principal Balance | 172 | ||||
Total, Recorded Investment | 106 | 123 | |||
Total, Principal Balance | 106 | 172 | |||
Total, Average Recorded Investment | 107 | ||||
Total, Interest Income Recognized | $2 | ||||
[1] | Does not reflect government guaranties on impaired loans as of March 31, 2015 totaling $240 thousand. | ||||
[2] | Does not reflect government guaranties on impaired loans as of December 31, 2014 totaling $244 thousand. |
Allowance_for_loan_losses_and_7
Allowance for loan losses and credit quality Troubled Debt Restured Loans (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
loans | loans | |
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructured Loans, Number of Loans | 11 | 11 |
Troubled Debt Restructured Loans, Principal Balance | $1,646 | $1,691 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructured Loans, Number of Loans | 5 | 5 |
Troubled Debt Restructured Loans, Principal Balance | 692 | 704 |
Construction Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructured Loans, Number of Loans | 3 | 3 |
Troubled Debt Restructured Loans, Principal Balance | 252 | 276 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructured Loans, Number of Loans | 3 | 3 |
Troubled Debt Restructured Loans, Principal Balance | $702 | $711 |
Allowance_for_loan_losses_and_8
Allowance for loan losses and credit quality New Troubled Debt Restructured Loans (Details) (Commercial Real Estate [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
loans | |
Commercial Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
New Troubled Debt Restructured Loans, Number of Loans | 2 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $1,018 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $1,068 |
Allowance_for_loan_losses_and_9
Allowance for loan losses and credit quality Narrative Data (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
loans | loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for Loan Losses on acquired loan pool | $0 | |
Troubled Debt Resturctured Loans, Number to Subsequently Default | 0 | 0 |
Defined_Benefit_Pension_Plan_N
Defined Benefit Pension Plan Net Periodic Pension Benefit Cost (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $0 | $0 |
Interest cost on projected benefit obligation | 170 | 193 |
Expected return on plan assets | -286 | -298 |
Amortization of prior service cost | 0 | 0 |
Amortization of net loss | 14 | 0 |
Net periodic benefit | ($102) | ($105) |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) Components of Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Net unrealized gain on investment securities available-for-sale | $466 | $192 |
Defined benefit pension plan net unrealized actuarial loss | -1,572 | -1,572 |
Total | ($1,106) | ($1,380) |
Other_Comprehensive_Income_Los3
Other Comprehensive Income (Loss) Tax Effects Allocated to Each Component of Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net unrealized holding gains arising during the period on investment securities available-for-sale, Before Tax Amount | $415 | $583 |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income, Before Tax Amount | 0 | -43 |
Total other comprehensive income, Before Tax Amount | 415 | 540 |
Other Comprehensive Income (Loss), Tax [Abstract] | ||
Net unrealized holding gains arising during the period on investment securities available-for-sale, Tax | -141 | -198 |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income, Tax | 0 | 15 |
Total other comprehensive income, Tax | -141 | -183 |
Net unrealized holding gains arising during the period on investment securities available-for-sale | 274 | 385 |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income | 0 | -28 |
Total other comprehensive income, Net of Tax Amount | $274 | $357 |
Other_Comprehensive_Income_Los4
Other Comprehensive Income (Loss) Reclassification Adjustments from Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income, Before Tax Amount | $0 | ($43) |
Reclassification adjustment for net gains on investment securities available-for-sale realized in net income, Tax | 0 | 15 |
Total reclassifications | $0 | ($28) |
Fair_Value_Measurements_and_Di2
Fair Value Measurements and Disclosures Fair Value, Assets Measured on Recurring Basis (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | $57,798 | $45,749 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 335 | 337 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 57,463 | 45,412 |
US Government-sponsored enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 21,427 | 15,441 |
US Government-sponsored enterprises [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 21,427 | 15,441 |
Agency mortgage-backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 7,033 | 6,593 |
Agency mortgage-backed [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 7,033 | 6,593 |
State and political subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 18,077 | 16,103 |
State and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 18,077 | 16,103 |
Corporate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 10,926 | 7,275 |
Corporate [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 10,926 | 7,275 |
Total debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 57,463 | 45,412 |
Total debt securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 57,463 | 45,412 |
Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | 335 | 337 |
Mutual funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | $335 | $337 |
Fair_Value_Measurements_and_Di3
Fair Value Measurements and Disclosures Fair Values and Carrying Amounts, Significant Financial Instruments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents | $13,151 | $41,744 | $15,050 | $30,719 |
Interest bearing deposits in banks | 13,102 | 12,252 | ||
Loans held for sale | 8,257 | 10,743 | ||
Loans, net | 493,013 | 479,978 | ||
Accrued interest receivable | 2,082 | 1,854 | ||
Deposits | ||||
Noninterest bearing | 97,198 | 90,385 | ||
Interest bearing | 303,232 | 302,722 | ||
Time | 146,378 | 158,957 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents | 13,151 | 41,744 | ||
Investment securities | 335 | 337 | ||
Accrued interest receivable | 0 | |||
Deposits | ||||
Noninterest bearing | 97,198 | 90,385 | ||
Borrowed funds [Abstract] | ||||
Short-term, Fair Value | 10,423 | 6,882 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Interest bearing deposits in banks | 13,096 | 12,248 | ||
Investment securities | 62,621 | 52,466 | ||
Loans held for sale | 8,545 | 11,036 | ||
Accrued interest receivable | 395 | 312 | ||
Deposits | ||||
Interest bearing | 303,233 | 302,723 | ||
Time | 146,560 | 159,104 | ||
Borrowed funds [Abstract] | ||||
Long-term, Fair Value | 8,673 | 8,773 | ||
Accrued interest payable | 487 | 304 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Accrued interest receivable | 1,687 | 1,542 | ||
Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents | 13,151 | 41,744 | ||
Interest bearing deposits in banks | 13,102 | 12,252 | ||
Investment securities | 63,014 | 52,964 | ||
Loans held for sale | 8,257 | 10,743 | ||
Accrued interest receivable | 2,082 | 1,854 | ||
Nonmarketable equity securities | 2,053 | 2,053 | ||
Deposits | ||||
Noninterest bearing | 97,198 | 90,385 | ||
Interest bearing | 303,232 | 302,722 | ||
Time | 146,378 | 158,957 | ||
Borrowed funds [Abstract] | ||||
Short-term | 10,423 | 6,882 | ||
Long-term | 8,164 | 8,236 | ||
Accrued interest payable | 487 | 304 | ||
Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents | 13,151 | 41,744 | ||
Interest bearing deposits in banks | 13,096 | 12,248 | ||
Investment securities | 62,956 | 52,803 | ||
Loans held for sale | 8,545 | 11,036 | ||
Accrued interest receivable | 2,082 | 1,854 | ||
Deposits | ||||
Noninterest bearing | 97,198 | 90,385 | ||
Interest bearing | 303,233 | 302,723 | ||
Time | 146,560 | 159,104 | ||
Borrowed funds [Abstract] | ||||
Short-term, Fair Value | 10,423 | 6,882 | ||
Long-term, Fair Value | 8,673 | 8,773 | ||
Accrued interest payable | 487 | 304 | ||
Residential Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 165,276 | 165,475 | ||
Residential Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 166,497 | 166,780 | ||
Residential Real Estate [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 164,068 | 164,267 | ||
Residential Real Estate [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 166,497 | 166,780 | ||
Construction Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 29,822 | 37,258 | ||
Construction Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 30,463 | 36,876 | ||
Construction Real Estate [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 29,466 | 36,847 | ||
Construction Real Estate [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 30,463 | 36,876 | ||
Commercial Real Estate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 220,591 | 211,710 | ||
Commercial Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 221,983 | 214,184 | ||
Commercial Real Estate [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 217,973 | 209,187 | ||
Commercial Real Estate [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 221,983 | 214,184 | ||
Commercial [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 20,922 | 20,620 | ||
Commercial [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 20,172 | 19,859 | ||
Commercial [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 20,755 | 20,459 | ||
Commercial [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 20,172 | 19,859 | ||
Consumer [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 4,127 | 4,435 | ||
Consumer [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 4,037 | 4,379 | ||
Consumer [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 4,104 | 4,411 | ||
Consumer [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 4,037 | 4,379 | ||
Municipal [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 52,275 | 40,480 | ||
Municipal [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | 53,437 | 39,743 | ||
Municipal [Member] | Carrying Amount [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net | 52,262 | 40,468 | ||
Municipal [Member] | Estimated Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net, Fair Value | $53,437 | $39,743 |
Subsequent_Events_Narrative_Da
Subsequent Events Narrative Data (Details) (Dividend Declared [Member], USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Dividend Declared [Member] | |
Subsequent Event [Line Items] | |
Date Declared, cash dividend | 15-Apr-15 |
Cash Dividend Declared, per share | $0.27 |
Payable Date, cash dividend | 7-May-15 |
Date of Record, cash dividend declared | 27-Apr-15 |