Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 23, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | PALMETTO BANCSHARES INC | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 12,814,574 | ||
Entity Public Float | $63,140,845 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 706874 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents | ||
Cash and due from banks | $36,887 | $38,178 |
Total cash and cash equivalents | 36,887 | 38,178 |
Federal Home Loan Bank stock, at cost | 2,556 | 2,950 |
Trading account assets, at fair value | 5,513 | 5,118 |
Investment securities available for sale, at fair value | 211,511 | 214,383 |
Mortgage loans held for sale | 1,125 | 1,722 |
Loans, gross | 805,059 | 767,513 |
Less: allowance for loan losses | -12,920 | -16,485 |
Loans, net | 792,139 | 751,028 |
Premises and equipment, net | 22,006 | 23,367 |
Accrued interest receivable | 3,387 | 3,535 |
Foreclosed real estate | 5,949 | 7,502 |
Deferred tax asset, net | 17,053 | 22,087 |
Bank-owned life insurance | 11,923 | 11,617 |
Other assets | 8,762 | 8,742 |
Total assets | 1,118,811 | 1,090,229 |
Deposits | ||
Noninterest-bearing | 196,219 | 178,075 |
Interest-bearing | 732,101 | 729,285 |
Total deposits | 928,320 | 907,360 |
Retail repurchase agreements | 15,921 | 18,175 |
Federal Home Loan Bank advances | 35,000 | 35,000 |
Other liabilities | 6,526 | 5,877 |
Total liabilities | 985,767 | 966,412 |
Preferred stock - par value $0.01 per share; authorized 2,500,000 shares; none issued and outstanding | ||
Common stock - par value $0.01 per share; authorized 75,000,000 shares; 12,810,388 and 12,784,605 issued and outstanding at December 31, 2014 and 2013, respectively | 128 | 127 |
Capital surplus | 145,384 | 144,624 |
Accumulated deficit | -2,565 | -10,641 |
Accumulated other comprehensive loss, net of tax | -9,903 | -10,293 |
Total shareholders' equity | 133,044 | 123,817 |
Total liabilities and shareholders' equity | $1,118,811 | $1,090,229 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Preferred stock - par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock - shares authorized | 2,500,000 | 2,500,000 |
Preferred stock - shares issued | 0 | 0 |
Preferred stock - shares outstanding | 0 | 0 |
Common stock - par value (in Dollars per share) | $0.01 | $0.01 |
Common stock - shares authorized | 75,000,000 | 75,000,000 |
Common stock - shares issued | 12,810,388 | 12,784,605 |
Common stock - shares outstanding | 12,810,388 | 12,784,605 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income | |||
Interest earned on cash and cash equivalents | $93 | $100 | $209 |
Dividends received on Federal Home Loan Bank stock | 65 | 39 | 47 |
Interest earned on trading account assets | 180 | 38 | |
Interest earned on investment securities available for sale | 3,820 | 4,017 | 5,059 |
Interest and fees earned on loans | 35,492 | 38,344 | 40,075 |
Total interest income | 39,650 | 42,538 | 45,390 |
Interest expense | |||
Interest expense on deposits | 494 | 2,257 | 5,136 |
Interest expense on retail repurchase agreements | 2 | 2 | 2 |
Interest expense on Federal Home Loan Bank advances | 27 | ||
Interest expense on other borrowings | 1 | ||
Total interest expense | 523 | 2,260 | 5,138 |
Net interest income | 39,127 | 40,278 | 40,252 |
Provision for loan losses | -2,300 | 3,465 | 13,075 |
Net interest income after provision for loan losses | 41,427 | 36,813 | 27,177 |
Noninterest income | |||
Service charges on deposit accounts, net | 7,027 | 6,902 | 6,691 |
Fees for trust, investment management and brokerage services | 642 | 2,039 | 3,092 |
Mortgage-banking | 1,509 | 2,008 | 3,139 |
Debit card and automatic teller machine income, net | 2,437 | 2,400 | 2,171 |
Investment securities gains, net | 125 | 310 | 10,494 |
Trading account income, net | 501 | 170 | |
Gain on sale of branches | 568 | ||
Other | 1,297 | 1,007 | 875 |
Total noninterest income | 13,538 | 14,836 | 27,030 |
Noninterest expense | |||
Salaries and other personnel | 18,750 | 20,107 | 21,088 |
Occupancy | 4,319 | 4,242 | 4,455 |
Furniture and equipment | 3,971 | 3,731 | 3,378 |
Professional services | 2,883 | 2,083 | 1,715 |
Federal Deposit Insurance Corporation deposit insurance assessment | 1,142 | 1,439 | 1,861 |
Marketing | 1,058 | 1,051 | 1,384 |
Foreclosed real estate writedowns and expenses | 1,827 | 3,373 | 9,285 |
Loss (gain) on other loans held for sale | -326 | 3,660 | |
Loan workout | 505 | 1,066 | 1,273 |
Other | 5,686 | 5,567 | 5,251 |
Total noninterest expense | 40,141 | 42,333 | 53,350 |
Income before provision (benefit) for income taxes | 14,824 | 9,316 | 857 |
Provision (benefit) for income taxes | 5,469 | -18,415 | 2,721 |
Net income (loss) | $9,355 | $27,731 | ($1,864) |
Common and per common share data | |||
Net income (loss) - basic (in Dollars per share) | $0.73 | $2.17 | ($0.15) |
Net income (loss) - diluted (in Dollars per share) | $0.73 | $2.17 | ($0.15) |
Cash dividends declared (in Dollars per share) | $0.10 | ||
Book value (in Dollars per share) | $10.39 | $9.68 | $7.71 |
Weighted average basic common shares (in Shares) | 12,696,777 | 12,658,752 | 12,639,379 |
Weighted average diluted common shares (in Shares) | 12,761,885 | 12,658,752 | 12,639,379 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income (loss) | $9,355 | $27,731 | ($1,864) |
Investment securities available for sale | |||
Increase (decrease) in net unrealized gains | 3,374 | -7,532 | -18,854 |
Plus: reclassification adjustment of net gains included in net income | 125 | 310 | 10,494 |
Increase (decrease) in net unrealized gains (losses) on investment securities available for sale | 3,499 | -7,222 | -8,360 |
Defined benefit pension plan | |||
Change in net actuarial loss | -2,740 | 1,392 | 1,292 |
Other comprehensive income (loss), pretax | 759 | -5,830 | -7,068 |
Provision (benefit) for income taxes related to items of other comprehensive income (loss) | 369 | -2,254 | -2,721 |
Other comprehensive income (loss), net of tax | 390 | -3,576 | -4,347 |
Comprehensive income (loss) | $9,745 | $24,155 | ($6,211) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholdersb Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2011 | $127 | $142,233 | ($36,508) | ($2,370) | $103,482 |
Balance (in Shares) at Dec. 31, 2011 | 12,726,388 | ||||
Net income (loss) | -1,864 | -1,864 | |||
Other comprehensive income (loss), net of tax | -4,347 | -4,347 | |||
Compensation expense related to stock options and restricted stock granted under equity award plans | 1,109 | 1,109 | |||
Common stock issued related to restricted stock granted under equity award plans, shares (in Shares) | 27,637 | ||||
Other changes (in Shares) | 20 | ||||
Balance at Dec. 31, 2012 | 127 | 143,342 | -38,372 | -6,717 | 98,380 |
Balance (in Shares) at Dec. 31, 2012 | 12,754,045 | ||||
Net income (loss) | 27,731 | 27,731 | |||
Other comprehensive income (loss), net of tax | -3,576 | -3,576 | |||
Exercise of stock options | 124 | 124 | |||
Exercise of stock options (in Shares) | 11,250 | ||||
Compensation expense related to stock options and restricted stock granted under equity award plans | 1,158 | 1,158 | |||
Common stock issued related to restricted stock granted under equity award plans, shares (in Shares) | 19,309 | ||||
Other changes (in Shares) | 1 | ||||
Balance at Dec. 31, 2013 | 127 | 144,624 | -10,641 | -10,293 | 123,817 |
Balance (in Shares) at Dec. 31, 2013 | 12,784,605 | ||||
Net income (loss) | 9,355 | 9,355 | |||
Other comprehensive income (loss), net of tax | 390 | 390 | |||
Compensation expense related to stock options and restricted stock granted under equity award plans | 1 | 773 | 774 | ||
Common stock issued related to restricted stock granted under equity award plans, value | -13 | -13 | |||
Common stock issued related to restricted stock granted under equity award plans, shares (in Shares) | 25,783 | ||||
Cash dividends declared on common stock | -1,279 | -1,279 | |||
Balance at Dec. 31, 2014 | $128 | $145,384 | ($2,565) | ($9,903) | $133,044 |
Balance (in Shares) at Dec. 31, 2014 | 12,810,388 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net income (loss) | $9,355 | $27,731 | ($1,864) |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Investment securities gains, net | -125 | -310 | -10,494 |
Amortization of unearned discounts / premiums on investment securities available for sale, net | 3,398 | 4,992 | 6,031 |
Trading account income, net | -501 | -170 | |
Reduction in (purchases of) trading account assets, net | 106 | -4,948 | |
Gain on sales of mortgage loans held for sale, net | -1,178 | -1,803 | -2,585 |
Originations of mortgage loans held for sale | -42,982 | -67,811 | -97,400 |
Proceeds from sales of mortgage loans held for sale | 44,757 | 74,006 | 97,519 |
Gain on sales of Small Business Administration loans | -70 | -207 | -162 |
Proceeds from sales of Small Business Administration loans | 1,236 | 2,222 | 1,830 |
Loss (gain) on other loans held for sale | -326 | 3,660 | |
Proceeds from sales of other loans held for sale | 1,102 | 13,922 | |
Provision for loan losses | -2,300 | 3,465 | 13,075 |
Depreciation | 2,364 | 2,581 | 2,529 |
Gain on sale of branches | -568 | ||
Writedowns and losses on sales of foreclosed real estate, net | 1,344 | 2,977 | 8,617 |
Deferred income tax expense (benefit) | 4,666 | -19,834 | 2,721 |
Decrease (increase) in income tax refunds receivable | 138 | -510 | |
Increase in cash surrender value of bank-owned life insurance | -306 | -46 | |
Compensation expense on equity-based awards | 774 | 1,158 | 1,109 |
Writedowns on long-lived assets | 253 | 70 | |
Net periodic pension expense | 545 | 642 | 736 |
Contribution to defined benefit pension plan | -1,600 | -1,893 | -1,600 |
Provision for unfunded commitments | 213 | -108 | -11 |
Decrease (increase) in interest receivable and other assets, net | -14 | 1,207 | 1,502 |
Increase (decrease) in interest payable and other liabilities, net | -1,249 | 151 | -1,031 |
Net cash provided by operating activities | 18,824 | 24,778 | 37,096 |
Investing Activities | |||
Purchases of Federal Home Loan Bank stock | -1,800 | -1,570 | |
Proceeds from redemption of Federal Home Loan Bank stock | 2,194 | 431 | 1,691 |
Proceeds from sales of investment securities available for sale | 21,504 | 48,660 | 181,014 |
Proceeds from maturities and repayments of investment securities available for sale | 20,212 | 52,696 | 72,495 |
Purchases of investment securities available for sale | -38,618 | -63,141 | -260,916 |
Repayments on other loans held for sale | 70 | ||
Purchase of mortgage loans held for investment | -13,974 | ||
Purchase of commercial loan participation | -5,000 | ||
Purchase of indirect automobile loans | -22,123 | ||
Increase in gross loans, net | -1,192 | -38,592 | -4,385 |
Purchase of bank-owned life insurance | -10,000 | ||
Purchases of premises and equipment, net | -1,003 | -1,152 | -1,521 |
Proceeds from sales of foreclosed real estate | 2,521 | 2,973 | 13,524 |
Payment for sale of branches, net | -32,272 | ||
Investment in SBIC limited partnership | -250 | -350 | |
Net cash used for investing activities | -37,529 | -10,045 | -30,300 |
Financing Activities | |||
Increase in transaction, money market and savings deposits, net | 46,875 | 26,327 | 36,980 |
Decrease in time deposits, net | -25,915 | -142,209 | -36,842 |
Increase (decrease) in retail repurchase agreements, net | -2,254 | 2,818 | -8,501 |
Proceeds from Federal Home Loan Bank advances | 35,000 | 35,000 | |
Repayment of Federal Home Loan Bank advances | -35,000 | ||
Proceeds from exercise of stock options | 124 | ||
Dividends paid on common stock | -1,279 | ||
Taxes paid related to net share settlement of equity awards | -13 | ||
Net cash provided by (used for) financing activities | 17,414 | -77,940 | -8,363 |
Net change in cash and due from banks | -1,291 | -63,207 | -1,567 |
Cash and due from banks, beginning of period | 38,178 | 101,385 | 102,952 |
Cash and due from banks, end of period | 36,887 | 38,178 | 101,385 |
Cash paid during the period for: | |||
Interest expense | 530 | 2,662 | 5,242 |
Income taxes | 1,363 | 510 | |
Significant noncash activities | |||
Increase (decrease) in net unrealized gains on investment securities available for sale, net of tax | 2,171 | -4,481 | -5,187 |
Decrease (increase) in defined benefit pension plan net actuarial loss, net of tax | -1,781 | 905 | 840 |
Loans transferred from gross loans to other loans held for sale | 1,166 | 2,015 | 21,383 |
Loans transferred from gross loans to foreclosed real estate, at fair value | 2,312 | 2,541 | 3,575 |
Loans transferred from other loans held for sale to gross loans, at fair value | 6,143 | ||
Loans transferred from other loans held for sale to foreclosed real estate, at fair value | $1,814 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2014 | |||
Accounting Policies [Abstract] | |||
Significant Accounting Policies [Text Block] | 1 | Summary of Significant Accounting Policies | |
Nature of Operations | |||
Palmetto Bancshares, Inc. (the “Company’) is a South Carolina bank holding company organized in 1982 and headquartered in Greenville, South Carolina. The Company serves as the bank holding company for The Palmetto Bank (the “Bank”), which began operations in 1906. The Bank, also headquartered in Greenville, South Carolina, is the second largest banking institution headquartered in South Carolina. The Bank serves the Upstate of South Carolina through 25 branch locations in nine counties along the economically attractive I-85 corridor, as well as 24/7/365 service through online and mobile banking and automatic teller machines. Through its Retail, Commercial and Wealth Management lines of business, the Bank specializes in providing financial solutions to consumers and small to mid-size businesses with deposit and cash management products, loans (including consumer, mortgage, credit card, automobile, Small Business Administration (“SBA”), commercial and corporate), lines of credit, trust, brokerage, private banking, financial planning and insurance. | |||
Principles of Consolidation / Basis of Presentation | |||
The accompanying Consolidated Financial Statements include the accounts of the Company, the Bank and subsidiaries of the Bank (collectively referred to herein as the “Company,” “we,” “us” or “our”). In management’s opinion, all significant intercompany accounts and transactions have been eliminated in consolidation, and all adjustments necessary for a fair presentation of the financial condition and results of operations for the periods presented have been included. Any such adjustments are of a normal and recurring nature. Assets held by the Company in a fiduciary or agency capacity for clients are not included in the Company’s Consolidated Financial Statements because those items do not represent assets of the Company. The accounting and financial reporting policies of the Company conform, in all material respects, to accounting principles generally accepted in the United States of America (“GAAP”) and to general practices within the financial services industry. | |||
Subsequent Events | |||
Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet including the estimates inherent in the process of preparing financial statements. Unrecognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. The Company has reviewed events occurring through the issuance date of the Consolidated Financial Statements and no subsequent events have occurred requiring accrual or disclosure in these financial statements other than those included in this Annual Report on Form 10-K. | |||
Business Segments | |||
Operating segments are components of an enterprise about which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and assess performance. Public enterprises are required to report a measure of segment profit or loss, certain specific revenue and expense items for each segment, segment assets and information about the way that the operating segments were determined, among other items. | |||
The Company considers business segments by analyzing distinguishable components that are engaged in providing individual products, services or groups of related products or services and that are subject to risks and returns that are different from those of other business segments. When determining whether products and services are related, the Company considers the nature of the products or services, the nature of the production processes, the type or class of client for which the products or services are designed and the methods used to distribute the products or provide the services. | |||
For the past several years, we have been realigning our organizational structure and more specifically delineating our businesses for improved accountability and go-to-market strategies. However, financial information for these businesses has been separated to a limited extent, and, therefore, we do not have disaggregated financial information that meets the criteria to be considered reportable segments. Accordingly, at December 31, 2014, the Company had one reportable business segment, which was banking. | |||
Use of Estimates | |||
In preparing the Consolidated Financial Statements, the Company’s management makes estimates and assumptions that impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates and for the periods indicated in the Consolidated Financial Statements. Actual results could differ from these estimates and assumptions. Therefore, the results of operations for the year ended December 31, 2014 are not necessarily indicative of the results of operations that may be expected in future periods. | |||
Risk and Uncertainties | |||
In the normal course of business, the Company encounters two significant types of overall risk: economic and regulatory. There are three main components of economic risk: credit risk, market risk and concentration of credit risk. Credit risk is the risk of default on the Company's loan portfolio resulting from borrowers' inability or unwillingness to make contractually required interest and principal payments, default on repayment of investment securities and trading account assets, and the risk of other counterparties such as insurance providers failing to make contractually required payments to the Company. Market risk primarily includes interest-rate risk. The Company is exposed to interest-rate risk to the degree that its interest-bearing liabilities mature or reprice at different speeds, or different bases, than its interest-earning assets. Market risk also reflects the risk of declines in the valuation of investment securities, trading account assets, loans held for sale, the value of the collateral underlying loans and the value of real estate held by the Company. Concentration of credit risk refers to the risk that, if the Company extends a significant portion of its total outstanding credit to borrowers in a specific geographical area or industry or on the security of a specific form of collateral, the Company may experience disproportionately high levels of defaults and losses if those borrowers, or the value of such type of collateral, are adversely impacted by economic or other factors that are particularly applicable to such borrowers or collateral. Concentration of credit risk is also similarly applicable to the investment securities portfolio, trading account assets and bank-owned life insurance (“BOLI”) policies. | |||
The Company and the Bank are subject to the regulations of various government agencies. These regulations can and do change significantly from period to period. In addition, the Company and the Bank undergo periodic examinations by bank regulatory agencies which may subject us to changes with respect to asset and liability valuations, amount of required allowance for loan losses, capital levels or operating restrictions. | |||
Cash and Cash Equivalents | |||
Cash and cash equivalents may include cash, interest-bearing bank balances and federal funds sold. Generally, both cash and cash equivalents have maturities of three months or less, and accordingly, the carrying amount of these instruments is deemed to be a reasonable estimate of fair value. | |||
Federal Home Loan Bank Stock | |||
The Bank is a member of the Federal Home Loan Bank of Atlanta (the “FHLB”), which is one of the regional FHLBs that administer home financing credit for depository institutions. Each FHLB serves as a reserve or central bank for its members within its assigned region. It is funded primarily from proceeds derived from the sale of consolidated obligations of the FHLB System. It makes loans or advances to members in accordance with policies and procedures established by the Board of Directors of the FHLB, which are subject to the oversight of the Federal Housing Financing Board. All advances from the FHLB are required to be fully secured by collateral as determined by the FHLB. | |||
As an FHLB member, the Company is required to purchase and maintain stock in the FHLB. No ready market exists for this stock, and it has no quoted market value. The stock is recorded at historical cost and redemptions are conducted at book value. Purchases and redemptions are normally transacted each quarter to adjust the Company’s investment to an amount based on the FHLB requirements, and requests for redemptions are met at the discretion of the FHLB. The Company has experienced no interruption in such redemptions. Dividends are paid on this stock at the discretion of the FHLB. | |||
Trading Account Assets | |||
The Company invests in an account that is managed by a third party and invests in municipal bond securities that are actively traded. Trading account assets are reported at estimated fair value as Trading account assets on the Consolidated Balance Sheet. Interest income on trading account assets is reported as interest income in the Consolidated Statement of Income (Loss). Unrealized gains and losses and realized gains and losses on the sales of trading account assets are included in Other noninterest income in the Consolidated Statement of Income (Loss). Account management fees and related expenses are included in Professional services expense. | |||
Investment Securities Available for Sale | |||
The Company’s investment securities are classified into three categories: held-to-maturity, trading and available for sale. Held-to-maturity investment securities include debt securities that the Company has the intent and ability to hold until maturity and are reported at amortized cost. Available for sale investment securities include debt and equity investment securities that the Company determines may be sold at a future date or that it does not have the intent or ability to hold to maturity. Available for sale investment securities are reported at fair value with unrealized gains and losses excluded from income and reported as a separate component of shareholders' equity, net of deferred income taxes. Any other-than-temporary impairment related to credit losses would be recognized through earnings while any other-than-temporary impairment related to other factors would be recognized in other comprehensive income (loss). Realized gains or losses on available for sale investment securities are computed on a specific identification basis. | |||
An other-than-temporary impairment analysis is conducted on a quarterly basis or more often if a potential loss-triggering event occurs. Investment securities are considered to be impaired on an other-than-temporary basis if it is probable that the issuer will be unable to make its contractual payments or if the Company no longer believes the security will recover within the estimated recovery period. Other-than-temporary impairment is recognized by evaluating separately other-than-temporary impairment losses due to credit issues and losses related to all other factors. Other-than-temporary impairment exists when it is more likely than not that the security will mature or be sold before its amortized cost basis can be recovered. For debt securities, the Company also considers the cause of the price decline such as the general level of interest rates and industry and issuer-specific factors, the issuer’s financial condition, near-term prospects and current ability to make future payments in a timely manner, the issuer’s ability to service debt, any change in agency ratings at evaluation date from acquisition date and any likely imminent action, and for asset-backed securities, the credit performance of the underlying collateral including delinquency rates, cumulative losses to date and the remaining credit enhancement compared to expected credit losses. Additionally, in determining if there is evidence of credit deterioration, the Company evaluates the severity of decline in market value below cost, the period of time for which the decline in fair value has existed and the financial condition and near-term prospects of the issuer including any specific events which may influence the operations of the issuer. | |||
Unamortized premiums and discounts are recognized in interest income over the contractual life of the security using the effective interest method. As principal repayments are received on securities a pro-rata portion of the unamortized premium or discount is recognized in interest income. Accretion of unamortized discounts is discontinued for investment securities that fall below investment grade. | |||
Mortgage and Other Loans Held for Sale | |||
Mortgage and other loans originated with the intent to sell, or for which a decision to sell is made subsequent to origination, are reported at the lower of cost or estimated fair value. Net unrealized losses, if necessary, are provided for through a valuation allowance charged to income. Gain or loss on sale of mortgage and other loans held for sale are recognized at the time of sale and are based on proceeds received, the value of any servicing rights recognized, the carrying amount of the loans at the time of sale and any interests the Company continues to hold based on relative fair value at the date of sale. | |||
Loans | |||
Loans are reported at their outstanding principal balances net of any unearned income, charge-offs and unamortized deferred fees and direct loan origination costs. Purchased loans are reported at their outstanding principal balance plus any unamortized purchase premiums. Unearned income, deferred fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan. | |||
Past due and delinquent status is based on contractual terms. Interest income on loans deemed past due continues to accrue until the loan is placed in nonaccrual status. | |||
The accrual of interest income is discontinued when it is determined there is a more than normal risk of future uncollectibility. In most cases, loans are automatically placed in nonaccrual status when the loan payment becomes 90 days delinquent and no acceptable arrangement has been made between the Company and the client. The accrual of interest on some loans, however, may continue even after the loan becomes 90 days delinquent in special circumstances deemed appropriate by the Company. Loans may be placed in nonaccrual status if it is determined that some factor other than delinquency (such as imminent foreclosure or bankruptcy proceedings) causes the Company to believe that more than a normal amount of risk exists with regard to collectability. When a loan is placed in nonaccrual status, accrued interest income receivable is reversed. Thereafter, any cash payments received on a nonaccrual loan are applied as a principal reduction until the entire amortized cost of the loan has been recovered. Any additional amounts received are reflected in interest income. Loans are returned to accrual status when the loan is brought current and ultimate collectability of principal and interest is no longer in doubt. | |||
In situations where, for economic or legal reasons related to a client’s financial difficulties, a concession is granted to the client that the Company would not otherwise consider, the related loan is classified as a troubled debt restructuring. The restructuring of a loan may include the transfer, from the client to the Company, of real estate, receivables from third parties, other assets or an equity interest in the client in full or partial satisfaction of the loan, a modification of the loan terms or a combination of the above. The accrual of interest continues on a troubled debt restructuring as long as the loan is performing in accordance with the restructured terms. If the restructured loan is not performing in accordance with the restructured terms, the loan will be placed on nonaccrual status and will retain its status as a troubled debt restructuring. Loans classified as troubled debt restructurings may be removed from this classification if they are subsequently restructured if, at the time of the subsequent restructuring, the borrower is not experiencing financial difficulties and under terms of the subsequent agreement no concession has been granted to the borrower. To meet these conditions, the subsequent modification agreement must specify market terms, including a contractual interest rate not less than a market interest rate for new debt with similar credit risk characteristics, and other terms no less favorable to the Company than those it would offer for such new debt. In addition, loans may also be removed from troubled debt restructuring classification for disclosure purposes after a specified period of time if the restructured agreement specifies an interest rate equal to or greater than the rate that the lender was willing to accept at the time of the restructuring for a new loan with comparable risk, and the loan is performing in accordance with the terms specified by the restructured agreement. | |||
Nonrefundable fees and certain direct costs associated with the origination of loans are deferred and recognized as a yield adjustment over the contractual life of the related loan, or if the related loan is held for sale, until the loan is sold. Premiums paid for purchased loans are recognized as a yield adjustment over the contractual or estimated life of the related loan pools depending on the size and homogeneity of the pool. Recognition of deferred fees and costs and purchase premiums is discontinued on nonaccrual loans until they return to accrual status or are charged-off. Deferral of direct loan origination costs are reported as a reduction of Salaries and other personnel expense. | |||
Allowance for Loan Losses | |||
The allowance for loan losses represents an amount that the Company believes will be adequate to absorb probable losses inherent in the loan portfolio as of the balance sheet date. Assessing the adequacy of the allowance for loan losses is a process that requires considerable judgment. Judgment in determining the adequacy of the allowance is based on evaluations of the collectability of loans including consideration of factors such as the balance of impaired loans, the quality, mix, and size of the overall loan portfolio, economic conditions that may impact the overall loan portfolio or an individual borrower’s ability to repay, the amount and quality of collateral securing the loans, the Company’s historical loan loss experience and borrower and collateral specific considerations for loans individually evaluated for impairment. | |||
The allowance for loan losses is a reserve established through a provision for loan losses charged to expense. The allowance for loan losses represents the Company’s best estimate of probable inherent losses that have been incurred within the existing loan portfolio and is necessary to reserve for estimated probable loan losses inherent in the loan portfolio. The Company’s allowance for loan losses methodology is based on historical loss experience by loan type, specific homogeneous risk pools and specific loss allocations. The process for determining the appropriate level of the allowance for loan losses is designed to account for asset deterioration as it occurs. The provision for loan losses reflects loan quality trends including the levels of and trends related to nonaccrual loans, potential problem loans, criticized loans, collateral values and loans charged-off or recovered, among other factors. | |||
The level of the allowance for loan losses reflects the Company’s continuing evaluation of specific lending risks, loan loss experience, current loan portfolio quality, present economic, political, and regulatory conditions and unidentified losses inherent in the current loan portfolio. Portions of the allowance for loan losses may be allocated for specific loans. However, the entire allowance for loan losses is available for any loan that, in the Company’s judgment, should be charged-off. The determination of the appropriate level of the allowance for loan losses inherently involves a high degree of subjectivity and requires significant estimates of current credit risks and future trends, all of which may undergo material changes. While the Company utilizes its best judgment and information available, the ultimate adequacy of the allowance for loan losses is dependent upon a variety of factors beyond the Company’s control including the performance of the loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications and collateral valuation. | |||
The starting point for the general component of the allowance is the historical loss experience of specific types of loans. Historical loss ratios are calculated for pools of similar loans with similar characteristics based on the proportion of actual loan net charge-offs to the total population of loans in the pool. A five-year look-back period is used to compute historical loss rates. However, given the increase in loan charge-offs beginning in 2009, since then a three-year look-back period has also been used for computing historical loss rates as an additional reference point in determining the allowance for loan losses. | |||
These historical loss percentages are increased or decreased for qualitative environmental factors derived from macroeconomic indicators and other factors. Qualitative factors considered in the determination of the allowance for loan losses include pervasive factors that generally impact clients across the loan portfolio (such as unemployment and the consumer price index) and factors that have specific implications to particular loan portfolios (such as residential home sales or commercial development). Factors evaluated may include, without limitation, changes in delinquent, nonaccrual and troubled debt restructured loan trends, trends in risk ratings and net loans charged-off, concentrations of credit, competition, legal and regulatory requirements, trends in the nature and volume of the loan portfolio, national and local economic and business conditions, collateral valuations, the experience and depth of lending management, lending policies and procedures, underwriting standards and practices, the quality of loan review systems and the degree of oversight by the Board of Directors, peer comparisons and other external factors. | |||
Allowances for loan losses on specific loans are recorded when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan. Specific allowances for loans considered individually significant and that exhibit probable or observed weaknesses are determined by analyzing, among other things, the borrower’s ability to repay amounts owed, guarantor support, collateral deficiencies, the relative risk rating of the loan and economic conditions impacting the client’s industry. The population of loans evaluated for potential impairment includes all loans that are currently classified as troubled debt restructurings, certain loans that have previously been classified as troubled debt restructurings, all loans with Bank-funded interest reserves and significant individual loans in nonaccrual status. Loans classified as troubled debt restructuring that are performing in accordance with their restructured terms are evaluated for impairment based on discounted cash flows using the loan’s original contractual interest rate. Troubled debt restructuring loans that are no longer performing in accordance with their restructured terms, and for which ultimate collection is based on liquidation of the collateral, are evaluated for impairment based on the collateral value less estimated costs to sell. | |||
Each impaired loan is individually reviewed to determine whether the impairment should be recorded as a charge-off or a reserve based on an assessment of the status of the borrower and the underlying collateral. In general, for collateral-dependent loans, the impairment is recorded as a charge-off unless the fair value of the collateral was based on an internal valuation pending receipt of a third-party appraisal or other extenuating circumstances. Consumer loan accounts are generally charged-off based on predefined past due time periods. | |||
The general reserve portion of the allowance for loan losses determined using the historical loss rates and qualitative factors is then combined with the specific allowance on loans individually evaluated for impairment to determine the total allowance for loan losses. | |||
Reserve for Unfunded Commitments | |||
The Company estimates probable losses related to unfunded lending commitments. The same credit policies are used in making and monitoring lending commitments as are used for loan underwriting. Therefore, in general, the methodology to determine the reserve for unfunded commitments is inherently similar to that used to determine the general reserve component of the allowance for loan losses. However, commitments have fixed expiration dates, and most commitments to extend credit have adverse change clauses that allow the Company to cancel the commitments based on various factors including deterioration in the creditworthiness of the borrower. Accordingly, many of the loan commitments are expected to expire without being drawn upon and, therefore, the total commitment amounts do not necessarily represent potential credit exposure. The reserve for unfunded lending commitments is included in Other liabilities in the Consolidated Balance Sheets. Changes to the reserve for unfunded commitments are recorded through Other noninterest expense in the Consolidated Statements of Income (Loss). | |||
Premises and Equipment, net | |||
Land is reported at cost. Buildings and improvements, furniture and equipment and software are reported at cost less accumulated depreciation computed principally by the straight-line method based on the estimated useful lives of the related asset. Estimated lives range from 12 to 39 years for buildings and improvements and from five to 12 years for furniture and equipment. Estimated lives range from three to five years for computer software. Estimated lives of automobiles are typically five years. Leasehold improvements are generally depreciated over the lesser of the lease term or the estimated useful lives of the improvements. | |||
Maintenance and repairs of such premises and equipment are expensed as incurred. Improvements that extend the useful lives of the respective assets are capitalized. | |||
Foreclosed Real Estate and Repossessed Personal Property | |||
Foreclosed real estate is initially recorded at fair value less estimated selling costs thereby establishing a new cost basis. Fair value of foreclosed real estate is subsequently reviewed regularly and writedowns are recorded when it is determined that the carrying value of the real estate exceeds the fair value less estimated selling costs. Subsequent increases in the fair value of foreclosed real estate are recognized through a reduction of the specific valuation allowance to the extent of previous writedowns. Writedowns resulting from the periodic re-evaluation of, costs related to holding, and gains and losses on the sale of foreclosed properties are charged against income. Costs to develop and improve foreclosed properties are capitalized. | |||
Repossessed personal property is included in Other assets in the Consolidated Balance Sheets. | |||
Servicing Rights | |||
The Company recognizes residential mortgage-servicing rights assets and SBA loan servicing rights assets (collectively referred to as “servicing rights”) upon the sale of residential mortgage and SBA loans for which the Company retains the underlying servicing obligation. Servicing rights assets are initially measured at fair value and amortized to expense over the estimated life of the servicing obligation. | |||
The fair value of servicing rights is determined at the date of sale of the underlying loan using the present value of estimated future net servicing income using assumptions that market participants use in their valuation estimates. The Company presents its servicing rights assets at the lower of cost or fair value in Other assets in the Consolidated Balance Sheets. | |||
For servicing rights, we utilize the expertise of third-party specialists on a quarterly basis to determine, among other things, capitalization, impairment and amortization rates. Estimates of the amount and timing of prepayment rates, loan loss experience, costs to service loans and discount rates are evaluated by the third-party specialists, reviewed and approved by us and used to estimate the fair value of our servicing rights portfolio. Amortization of the servicing rights portfolio is based on the ratio of net servicing income received in the current period to total net servicing income projected to be realized from the servicing rights portfolio. Projected net servicing income is determined based on the estimated future balance of the underlying loan portfolio, which declines over time from prepayments and scheduled loan amortization. Expected prepayment rates are estimated based on current interest-rate levels, other economic conditions, market forecasts and relevant characteristics of the servicing rights portfolio such as loan types, interest-rate stratification and recent prepayment experience. | |||
Impairment valuations are based on projections using a discounted cash flow method that includes assumptions regarding prepayments, interest rates, servicing costs and other factors. Impairment is measured on a disaggregated basis for each stratum of the servicing rights, which is segregated based on predominate risk characteristics including interest rate and loan type. Subsequent increases in value are recognized to the extent of previously recorded impairment for each stratum. | |||
Bank-Owned Life Insurance | |||
The Company has purchased life insurance policies on certain key employees (which we refer to as “teammate”). All premiums were paid by the Company and the Company is the sole beneficiary; however, the Company provides a $50 thousand death benefit to the beneficiaries of covered teammates. These policies are recorded in the Consolidated Balance Sheets at their cash surrender value as provided by the insurance carriers. Income from these policies is recorded in other noninterest income. | |||
Accumulated Other Comprehensive Income (Loss) | |||
The Company reports changes in other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). Comprehensive income (loss) includes all changes in shareholders’ equity during a period except those resulting from transactions with shareholders. | |||
Changes in the market value of investment securities available for sale are recorded through accumulated other comprehensive income (loss). Additionally, accumulated other comprehensive income (loss) includes adjustments related to the defined benefit pension plan (the “Pension Plan”). These adjustments relate to the actuarial gains and losses and the amortization of prior service costs and credits and any remaining transition amounts that had not yet been recognized through net periodic benefit cost. | |||
Income Taxes | |||
The Company files consolidated federal and state income tax returns. Federal income tax expense or benefit is allocated to the Bank on a separate return basis. The Company accounts for income taxes based on two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period and includes income tax expense related to uncertain tax positions, if any. Interest and penalties, if any, are recognized as a component of income tax expense. | |||
Deferred income taxes are determined using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax impacts of the differences between the book and tax bases of assets and liabilities and recognizes enacted changes in tax rates and laws in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized subject to the Company’s judgment that realization is more likely than not. A tax position that meets the more likely than not recognition threshold is measured to determine the amount of benefit to recognize. The tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. | |||
The Company reviews deferred tax assets for recoverability based on carryback ability, history of earnings, expectations for future earnings and the expected timing of reversals of temporary differences. Realization of a deferred tax asset ultimately depends on the existence of sufficient taxable income available under tax law including future reversals of existing temporary differences, future taxable income exclusive of reversing differences, taxable income in prior carryback years, projections of future operating results, cumulative tax losses over the past three years, tax loss deductibility limitations and available tax planning strategies. If, based on available information, it is more likely than not that the deferred income tax asset will not be realized, a valuation allowance against the deferred tax asset must be established with a corresponding charge to income tax expense. | |||
Net Income (Loss) per Common Share | |||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Net income (loss) available to common shareholders represents income (loss) applicable to common shareholders which is net income (loss) less income allocated to participating securities. For diluted net income (loss) per common share, the denominator is increased to include the number of additional common shares that would have been outstanding if dilutive potential common shares had been issued. If dilutive, common stock equivalents are calculated for stock options and restricted stock using the treasury stock method. Potential common shares are not included in the denominator of the diluted net income (loss) per common share computation when inclusion would be anti-dilutive. | |||
Participating securities are unvested share-based payment awards that contain nonforfeitable rights to dividends and are included in computing net income per common share using the two-class method. The two-class method is an earnings allocation formula under which net income per share is calculated for participating securities according to dividends declared and undistributed earnings. Under this method, all earnings, distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. For purposes of applying the two-class method, the Company’s unvested restricted stock awards are considered participating securities since those shares have a nonforfeitable right to any cash dividends declared and paid to common shareholders. For additional disclosure regarding the Company’s restricted stock awards, see Note 16, Equity-Based Compensation. | |||
Pension Plan | |||
The funded status of our Pension Plan is the difference between the plan assets and the projected benefit obligation at the balance sheet date. The underfunded status of our Pension Plan is recognized on the Consolidated Balance Sheets in Other liabilities. | |||
Equity-Based Compensation | |||
Compensation expense for restricted stock and stock option awards is measured at fair value and recognized as compensation expense in the Consolidated Statements of Income (Loss) over the service period for grants that have time / service-based vesting provisions. The fair value of restricted stock is determined based on the fair value of the common stock at the time of the grant. The fair value of stock options is estimated using an option-pricing model that takes into account fair value of the Company’s common stock, volatility measures, level of interest rates, term of the option and estimated prevesting forfeiture rates. | |||
Forfeitures are accounted for by eliminating compensation expense for unvested shares as forfeitures occur. Stock option and restricted stock awards are subject to vesting restrictions as to continuous employment for a specified time period following the date of grant. In addition, certain stock option and restricted stock awards are also subject to specified performance objectives. During these restriction periods, the holder of restricted stock awards is entitled to full voting rights and any dividends declared. | |||
Derivative Financial Instruments and Hedging Activities | |||
All derivatives are recognized as either assets or liabilities in the Consolidated Balance Sheets and measured at fair value. Changes in the fair value of derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the Company elects and the derivative qualifies for hedge accounting. The Company did not apply hedge accounting to any of its derivative instruments for the years ended December 31, 2014, 2013 or 2012. As a result, all of the changes in fair value of derivatives are reported in current earnings. | |||
The Company’s only derivative instruments are related to its mortgage-banking activities. The Company generally originates certain residential mortgage loans with the intention of selling these loans. Between the time the Company enters into an interest-rate lock commitment to originate a residential mortgage loan held for sale and the time the loan is closed and sold, the Company is subject to variability in market prices related to these commitments. The Company also enters into forward sale agreements of “to-be-issued” loans. The commitments to originate residential mortgage loans and forward sales commitments are freestanding derivative instruments. Fair value adjustments on these derivative instruments are recorded within Mortgage-banking income in the Consolidated Statements of Income (Loss). Interest-rate lock commitments to originate residential mortgage loans to be held for investment are not considered derivatives. | |||
Fair Value Measurements | |||
The Company provides disclosures about the fair value of assets and liabilities recognized in the Consolidated Balance Sheets in periods subsequent to initial recognition including whether the measurements are made on a recurring basis (for example, trading account assets and investment securities available for sale) or on a nonrecurring basis (for example, mortgage and other loans held for sale). | |||
Fair value is defined as the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a three-level hierarchy for disclosure of assets and liabilities recorded at fair value. The classification of assets and liabilities within the hierarchy is based on whether the inputs to the valuation methodology used for measurement are observable or unobservable. Observable inputs reflect market-derived or market-based information obtained from independent sources while unobservable inputs reflect our estimates of market data. The three-level hierarchy that is used to classify fair value measurements includes: | |||
● | Level 1 – Valuation is based on quoted prices for identical instruments traded in active markets. Level 1 instruments generally include securities traded on active exchange markets, such as the New York Stock Exchange or NASDAQ, as well as securities that are traded by dealers or brokers in active over-the-counter markets. Instruments the Company classifies as Level 1 are instruments that have been priced directly from dealer trading desks and represent actual prices at which such securities have traded within active markets. Level 1 instruments also include other loans held for sale and foreclosed real estate for which binding sales contracts have been entered into as of the balance sheet date. | ||
● | Level 2 – Valuation is based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques, such as matrix pricing, for which all significant assumptions are observable in the market. Instruments the Company classifies as Level 2 include securities that are valued based on pricing models that use relevant observable information generated by transactions that have occurred in the market place involving similar securities. Level 2 instruments also include mortgage loans held for sale that are valued based on prices for other mortgage whole loans with similar characteristics and other loans held for sale as well as impaired loans and foreclosed real estate valued by independent collateral appraisals based on recent sales of comparable properties. | ||
● | Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our estimate of assumptions market participants would use in pricing the asset or liability. Valuation techniques include use of option-pricing models, discounted cash flow models and similar techniques. | ||
The Company attempts to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, fair value measurement is based on models that use primarily market-based or independently-sourced market parameters. In certain cases when observable market inputs for model-based valuation techniques may not be readily available, the Company is required to make judgments about assumptions market participants would use in estimating the fair value of the financial instrument. | |||
The degree of management judgment involved in determining the fair value of an instrument is dependent upon the availability of quoted market prices or observable market parameters. For instruments that trade actively and have quoted market prices or observable market parameters, there is minimal subjectivity involved in measuring fair value. When observable market prices and parameters are not fully available, management judgment is necessary to estimate fair value. In addition, changes in market conditions may reduce the availability of quoted prices or observable data. For example, reduced liquidity in the capital markets or changes in secondary-market activities could result in observable market inputs becoming unavailable. When significant adjustments to available observable inputs are required, it may be appropriate to utilize an estimate based primarily on unobservable inputs. When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows and appropriate risk premiums is acceptable. | |||
Valuation of the Company’s Common Stock | |||
The Company utilizes the market price of its common stock within various valuations and calculations relating to the Pension Plan assets, teammate retirement accounts, granting of equity awards, the calculation of diluted net income (loss) per common share and the valuation of stock serving as loan collateral. The Company uses the closing price of its common stock as reported on the NASDAQ Capital Market to obtain the value of its common stock as of each valuation date or award date. | |||
Recently Adopted Authoritative Pronouncements | |||
In May 2013, the Committee of Sponsoring Organizations (“COSO”) of the Treadway Commission issued its updated Internal Control–Integrated Framework and related illustrative documents (the "2013 Framework"). The updated framework was written to reflect the changes in business since the first version was released in 1992. The Company transitioned from the 1992 framework to the 2013 framework during the first quarter 2014. | |||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11 Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”) to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists thereby reducing diversity in practice. The amendments in ASU 2013-11 became effective for the Company on January 1, 2014 and did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
Recently Issued Authoritative Pronouncements | |||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure (“ASU 2014-04”) to clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The Company adopted the provisions of ASU 2014-04 effective January 1, 2015. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers (“ASU 2014-09”). The scope of the guidance applies to revenue arising from contracts with customers, except for the following: lease contracts, insurance contracts, contractual rights and obligations within the scope of other guidance and nonmonetary exchanges between entities in the same line of business to facilitate sales to customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration that the entity receives or expects to receive. ASU 2014-09 is not expected to impact the timing or approach to revenue recognition for financial institutions. The likely impact for financial institutions will relate only to disclosures. The amendments are effective for public entities for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company does not expect the adoption of ASU 2014-09 to have a material impact on its financial position, results of operations or cash flows. | |||
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Topic 310): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (“ASU 2014-14”). The amendments in ASU 2014-14 require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: | |||
1 | The loan has a government guarantee that is not separable from the loan before foreclosure. | ||
2 | At the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim. | ||
3 | At the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. | ||
Upon foreclosure, the separate other receivable is to be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The Company adopted the provisions of ASU 2014-14 effective January 1, 2015. The adoption of ASU 2014-14 did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 205): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). The amendments in ASU 2014-15 are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the organization’s ability to continue as a going concern within one year after the date that the financial statements are issued. The amendments are effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early application is permitted. The Company does not expect the adoption of ASU 2014-15 to have a material impact on its financial position, results of operations or cash flows. | |||
Other accounting standards that have been recently issued by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Note_2_Cash_and_Cash_Equivalen
Note 2 - Cash and Cash Equivalents | 12 Months Ended | |
Dec. 31, 2014 | ||
Cash and Cash Equivalents [Abstract] | ||
Cash and Cash Equivalents Disclosure [Text Block] | 2 | Cash and Cash Equivalents |
Required Reserve Balances | ||
The Federal Reserve Act requires each depository institution to maintain cash reserves against certain liabilities. The Bank reports these liabilities to the Board of Governors of the Federal Reserve System (the “Federal Reserve”) on a weekly basis and maintains reserves on these liabilities with a 30-day lag. As of December 31, 2014, after taking into consideration the Bank’s levels of vault cash, reserves of $3.9 million were maintained with the Federal Reserve. | ||
Concentrations and Restrictions | ||
From time to time, the Company may sell federal funds to, or place deposits with, other financial institutions. Federal funds and any deposits in excess of Federal Deposit Insurance Corporation (“FDIC”) insurance limits are essentially uncollateralized overnight loans. The Company regularly evaluates the risk associated with the potential counterparties to these transactions to ensure that it would not be exposed to any significant risks with regard to cash and cash equivalent balances if it were to sell federal funds or place deposits in amounts in excess of FDIC insurance limits. At December 31, 2014 and 2013, the Company did not have any material deposits in excess of FDIC insurance limits with other financial institutions. | ||
Restricted cash and cash equivalents pledged as collateral relative to public funds and other agreements totaled $250 thousand and $706 thousand at December 31, 2014 and 2013, respectively. |
Note_3_Trading_Account_Assets
Note 3 - Trading Account Assets | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Trading Securities [Member] | |||||||||||||||||||||||||||||||||||||
Note 3 - Trading Account Assets [Line Items] | |||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3 | Trading AccountAssets | |||||||||||||||||||||||||||||||||||
The following table summarizes the components of trading account assets at the dates indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 4,116 | $ | 3,771 | |||||||||||||||||||||||||||||||||
Insured bank deposits | 1,397 | 1,347 | |||||||||||||||||||||||||||||||||||
Total trading account assets | $ | 5,513 | $ | 5,118 | |||||||||||||||||||||||||||||||||
The following table summarizes net realized gains and the change in fair value relative to trading account assets included in the Consolidated Statements of Income for the periods indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Realized gains, net | $ | 480 | $ | 139 | |||||||||||||||||||||||||||||||||
Unrealized gains, net due to changes in fair value relative to assets held at end of period | 21 | 31 | |||||||||||||||||||||||||||||||||||
Total trading account income, net | $ | 501 | $ | 170 | |||||||||||||||||||||||||||||||||
The Company may withdraw from the trading account the assets related to its original $5.0 million investment subject to 30-days’ written notice. In January 2015, the Company invested an additional $4.5 million in the trading account, which is restricted from withdrawal until January 2016. | |||||||||||||||||||||||||||||||||||||
Ratings | |||||||||||||||||||||||||||||||||||||
The following tables summarize Moody’s and Standard and Poor’s ratings of municipal bond trading account assets, based on fair value, at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Moody's Ratings | |||||||||||||||||||||||||||||||||||||
Aaa | 21 | % | |||||||||||||||||||||||||||||||||||
Aa1 - Aa3 | 60 | ||||||||||||||||||||||||||||||||||||
A1 - A3 | 14 | ||||||||||||||||||||||||||||||||||||
Not rated | 5 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
Standard and | |||||||||||||||||||||||||||||||||||||
Poor's Ratings | |||||||||||||||||||||||||||||||||||||
AAA | 26 | % | |||||||||||||||||||||||||||||||||||
AA+ - AA- | 52 | ||||||||||||||||||||||||||||||||||||
A+ - A- | 14 | ||||||||||||||||||||||||||||||||||||
Not Rated | 8 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
All municipal bond trading account assets were rated by either Moody’s or Standard and Poor’s at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Available-for-sale Securities [Member] | |||||||||||||||||||||||||||||||||||||
Note 3 - Trading Account Assets [Line Items] | |||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4 | Investment Securities Available for Sale | |||||||||||||||||||||||||||||||||||
The following tables summarize the amortized cost, gross unrealized gains and losses included in accumulated other comprehensive loss and fair value of investment securities available for sale at the dates indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||||||||||||||||
U.S. agency | $ | 3,930 | $ | 35 | $ | - | $ | 3,965 | |||||||||||||||||||||||||||||
State and municipal | 6,665 | 84 | (17 | ) | 6,732 | ||||||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 89,311 | 13 | (1,550 | ) | 87,774 | ||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 78,532 | 411 | (440 | ) | 78,503 | ||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 34,394 | 210 | (67 | ) | 34,537 | ||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 212,832 | $ | 753 | $ | (2,074 | ) | $ | 211,511 | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||||||||||||||||
State and municipal | $ | 7,393 | $ | 138 | $ | (71 | ) | $ | 7,460 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 97,303 | 30 | (4,201 | ) | 93,132 | ||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 76,852 | 95 | (927 | ) | 76,020 | ||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 37,655 | 258 | (142 | ) | 37,771 | ||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 219,203 | $ | 521 | $ | (5,341 | ) | $ | 214,383 | ||||||||||||||||||||||||||||
The following tables summarize securities in each category of investment securities available for sale that were in an unrealized loss position at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | |||||||||||||||||||||||||||||
value | value | value | |||||||||||||||||||||||||||||||||||
State and municipal | 3 | $ | 1,641 | $ | 7 | 1 | $ | 1,062 | $ | 10 | 4 | $ | 2,703 | $ | 17 | ||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 11 | 32,532 | 192 | 10 | 52,924 | 1,358 | 21 | 85,456 | 1,550 | ||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 10 | 14,889 | 119 | 10 | 18,979 | 321 | 20 | 33,868 | 440 | ||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 3 | 3,122 | 10 | 6 | 14,850 | 57 | 9 | 17,972 | 67 | ||||||||||||||||||||||||||||
Total | 27 | $ | 52,184 | $ | 328 | 27 | $ | 87,815 | $ | 1,746 | 54 | $ | 139,999 | $ | 2,074 | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | |||||||||||||||||||||||||||||
value | value | value | |||||||||||||||||||||||||||||||||||
State and municipal | 1 | $ | 1,010 | $ | 71 | - | $ | - | $ | - | 1 | $ | 1,010 | $ | 71 | ||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 14 | 62,251 | 2,863 | 9 | 29,123 | 1,338 | 23 | 91,374 | 4,201 | ||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 20 | 64,428 | 774 | 1 | 1,517 | 153 | 21 | 65,945 | 927 | ||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 4 | 14,468 | 73 | 3 | 5,306 | 69 | 7 | 19,774 | 142 | ||||||||||||||||||||||||||||
Total | 39 | $ | 142,157 | $ | 3,781 | 13 | $ | 35,946 | $ | 1,560 | 52 | $ | 178,103 | $ | 5,341 | ||||||||||||||||||||||
Other-Than-Temporary Impairment | |||||||||||||||||||||||||||||||||||||
Based on the Company’s other-than-temporary impairment analysis at December 31, 2014, the Company concluded that gross unrealized losses detailed in the preceding table were due to changes in market interest rates and were not other-than-temporarily impaired as of that date. | |||||||||||||||||||||||||||||||||||||
Ratings | |||||||||||||||||||||||||||||||||||||
Except for state and municipal securities, all of the Company’s available for sale securities are backed by United States (“U.S.”) agencies and are rated Aaa and AA+ by Moody’s and Standard and Poor’s rating services, respectively. The following table summarizes ratings of the Company’s state and municipal investment securities available for sale, based on fair value, at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Moody's Ratings | |||||||||||||||||||||||||||||||||||||
Aaa | 7 | % | |||||||||||||||||||||||||||||||||||
Aa1 - Aa3 | 56 | ||||||||||||||||||||||||||||||||||||
A1 - A2 | 4 | ||||||||||||||||||||||||||||||||||||
Not rated | 33 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
Standard and | |||||||||||||||||||||||||||||||||||||
Poor's Ratings | |||||||||||||||||||||||||||||||||||||
AAA | 17 | % | |||||||||||||||||||||||||||||||||||
AA+ - AA- | 41 | ||||||||||||||||||||||||||||||||||||
Not Rated | 42 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
All state and municipal securities were rated by either Moody’s or Standard and Poor’s at December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Maturities | |||||||||||||||||||||||||||||||||||||
The following table summarizes the amortized cost and fair value of investment securities available for sale at December 31, 2014 by contractual maturity and estimated principal repayment distribution (in thousands). U.S. agency and state and municipal securities are organized based on contractual maturity. Principal amounts on collateralized mortgage obligations, other mortgage-backed securities and SBA loan-backed securities are not due at a single maturity date and are subject to early repayment based on prepayment activity of underlying loans. Therefore, collateralized mortgage obligations, other mortgage-backed securities and SBA loan-backed securities are organized based on estimated cash flows using current prepayment assumptions. | |||||||||||||||||||||||||||||||||||||
Amortized cost | Fair value | ||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||||||||||||||||||||||
Due after one year through five years | 2,015 | 2,017 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 1,915 | 1,948 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
U.S. agency | 3,930 | 3,965 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 1,898 | 1,917 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 2,050 | 2,115 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 2,717 | 2,700 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
State and municipal | 6,665 | 6,732 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 407 | 407 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 11,227 | 11,041 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 77,677 | 76,326 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 89,311 | 87,774 | |||||||||||||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 42,042 | 42,112 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 19,191 | 19,158 | |||||||||||||||||||||||||||||||||||
Due after ten years | 17,299 | 17,233 | |||||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 78,532 | 78,503 | |||||||||||||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 15,116 | 15,133 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 11,219 | 11,216 | |||||||||||||||||||||||||||||||||||
Due after ten years | 8,059 | 8,188 | |||||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 34,394 | 34,537 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 2,305 | 2,324 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 72,450 | 72,418 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 112,719 | 111,348 | |||||||||||||||||||||||||||||||||||
Due after ten years | 25,358 | 25,421 | |||||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 212,832 | $ | 211,511 | |||||||||||||||||||||||||||||||||
Pledged | |||||||||||||||||||||||||||||||||||||
Investment securities were pledged as collateral for the following purposes at the dates indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Municipal and other secured deposits | $ | 84,255 | $ | 75,718 | |||||||||||||||||||||||||||||||||
Retail repurchase agreements | 36,629 | 25,626 | |||||||||||||||||||||||||||||||||||
Federal Reserve line of credit | 1,352 | 1,459 | |||||||||||||||||||||||||||||||||||
Correspondent bank lines of credit | 10,959 | 16,788 | |||||||||||||||||||||||||||||||||||
Total investment securities available for sale pledged | $ | 133,195 | $ | 119,591 | |||||||||||||||||||||||||||||||||
Realized Gains and Losses | |||||||||||||||||||||||||||||||||||||
The following table summarizes the gross realized gains and losses from sales of investment securities available for sale for the periods indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Realized gains | $ | 165 | $ | 471 | $ | 10,499 | |||||||||||||||||||||||||||||||
Realized losses | (40 | ) | (161 | ) | (5 | ) | |||||||||||||||||||||||||||||||
Total investment securities gains, net | $ | 125 | $ | 310 | $ | 10,494 | |||||||||||||||||||||||||||||||
Note_5_Loans
Note 5 - Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5 | Loans | |||||||||||||||||||||||||||||||||||
In the tables below, loan classes are based on FDIC classification codes, and portfolio segments are an aggregation of those classes based on the methodology used to develop and document the allowance for loan losses. FDIC classification codes are based on the underlying loan collateral. | |||||||||||||||||||||||||||||||||||||
Composition | |||||||||||||||||||||||||||||||||||||
The following table summarizes gross loans, categorized by portfolio segment, at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Total | % of total | Total | % of total | ||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 430,025 | 53.4 | % | $ | 455,452 | 59.4 | % | |||||||||||||||||||||||||||||
Single-family residential | 204,439 | 25.4 | 178,125 | 23.2 | |||||||||||||||||||||||||||||||||
Commercial and industrial | 80,927 | 10 | 73,078 | 9.5 | |||||||||||||||||||||||||||||||||
Consumer | 76,984 | 9.6 | 50,099 | 6.5 | |||||||||||||||||||||||||||||||||
Other | 12,684 | 1.6 | 10,759 | 1.4 | |||||||||||||||||||||||||||||||||
Loans, gross | $ | 805,059 | 100 | % | $ | 767,513 | 100 | % | |||||||||||||||||||||||||||||
Net unearned income and deferred fees totaled $596 thousand and $643 thousand at December 31, 2014 and 2013, respectively. Unamortized purchase premiums totaled $1.3 million at December 31, 2014 and are included in the applicable portfolio segment in the table above. | |||||||||||||||||||||||||||||||||||||
Residential mortgage loans serviced for the benefit of others totaled $375.1 million and $384.5 million at December 31, 2014 and 2013, respectively, and are excluded from the Consolidated Balance Sheets since they are not owned by the Company. | |||||||||||||||||||||||||||||||||||||
Pledged | |||||||||||||||||||||||||||||||||||||
The Bank, as a member of the FHLB of Atlanta, must pledge collateral to borrow from the FHLB and cover the various Federal Reserve services that are available for use by the Bank. Acceptable collateral includes, among other types of collateral, a variety of loans including residential, multifamily, home equity lines and second mortgages as well as qualifying commercial loans. At December 31, 2014 and 2013, $170.6 million and $205.2 million of gross loans, respectively, were pledged to collateralize FHLB advances of which $79.1 million and $90.2 million, respectively, were available as lendable collateral. | |||||||||||||||||||||||||||||||||||||
At December 31, 2014 and 2013, loans totaling $38.2 million and $794 thousand, respectively, were pledged as collateral to cover the various Federal Reserve services that are available for use by the Bank of which $27.8 million and $651 thousand, respectively, were available as lendable collateral. | |||||||||||||||||||||||||||||||||||||
Concentrations | |||||||||||||||||||||||||||||||||||||
The following table summarizes loans secured by commercial real estate, categorized by class, at December 31, 2014 (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
Total commercial | % of gross loans | % of Bank's | |||||||||||||||||||||||||||||||||||
real estate loans | total regulatory | ||||||||||||||||||||||||||||||||||||
capital | |||||||||||||||||||||||||||||||||||||
Secured by commercial real estate | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 48,063 | 6 | % | 33.5 | % | |||||||||||||||||||||||||||||||
Multifamily residential | 9,025 | 1.1 | 6.3 | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 372,937 | 46.3 | 260.2 | ||||||||||||||||||||||||||||||||||
Total loans secured by commercial real estate | $ | 430,025 | 53.4 | % | 300 | % | |||||||||||||||||||||||||||||||
The following table further categorizes loans secured by commercial real estate at December 31, 2014 (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
Total commercial | % of gross loans | % of Bank's | |||||||||||||||||||||||||||||||||||
real estate loans | total regulatory | ||||||||||||||||||||||||||||||||||||
capital | |||||||||||||||||||||||||||||||||||||
Development commercial real estate loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Land - unimproved (commercial or residential) | $ | 15,636 | 1.9 | % | 10.9 | % | |||||||||||||||||||||||||||||||
Land development - commercial | 5,926 | 0.7 | 4.2 | ||||||||||||||||||||||||||||||||||
Land development - residential | 5,338 | 0.7 | 3.7 | ||||||||||||||||||||||||||||||||||
Commercial construction: | |||||||||||||||||||||||||||||||||||||
Retail | 3,167 | 0.4 | 2.2 | ||||||||||||||||||||||||||||||||||
Total development commercial real estate loans | 30,067 | 3.7 | 21 | ||||||||||||||||||||||||||||||||||
Existing and other commercial real estate loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Hotel / motel | 40,384 | 5 | 28.2 | ||||||||||||||||||||||||||||||||||
Retail | 32,703 | 4.1 | 22.8 | ||||||||||||||||||||||||||||||||||
Office | 26,804 | 3.3 | 18.7 | ||||||||||||||||||||||||||||||||||
Multifamily | 9,025 | 1.1 | 6.3 | ||||||||||||||||||||||||||||||||||
Industrial and warehouse | 5,976 | 0.8 | 4.2 | ||||||||||||||||||||||||||||||||||
Healthcare | 13,183 | 1.6 | 9.2 | ||||||||||||||||||||||||||||||||||
Miscellaneous commercial | 102,115 | 12.7 | 71.2 | ||||||||||||||||||||||||||||||||||
Residential construction - speculative | 299 | - | 0.2 | ||||||||||||||||||||||||||||||||||
Total existing and other commercial real estate loans | 230,489 | 28.6 | 160.8 | ||||||||||||||||||||||||||||||||||
Commercial real estate owner-occupied and residential loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Commercial - owner-occupied | 151,774 | 18.9 | 105.9 | ||||||||||||||||||||||||||||||||||
Commercial construction - owner-occupied | 8,542 | 1.1 | 5.9 | ||||||||||||||||||||||||||||||||||
Residential construction - contract | 9,153 | 1.1 | 6.4 | ||||||||||||||||||||||||||||||||||
Total commercial real estate owner-occupied and residential loans | 169,469 | 21.1 | 118.2 | ||||||||||||||||||||||||||||||||||
Total loans secured by commercial real estate | $ | 430,025 | 53.4 | % | 300 | % | |||||||||||||||||||||||||||||||
Asset Quality | |||||||||||||||||||||||||||||||||||||
The composition of the Company’s loan portfolio is currently weighted toward commercial real estate. Commercial real estate loans have higher risks than other real estate loans because repayment is sensitive to interest-rate changes, governmental regulation of real property, general economic and market conditions and the availability of long-term financing particularly in the current economic environment. Commercial and industrial loans are generally secured by the assets being financed or other business assets, such as accounts receivable, inventory or property and equipment, and generally incorporate a personal guarantee. In the case of loans secured by accounts receivable or inventory, the availability of funds for repayment of these loans may depend substantially on the ability of the client to collect amounts due from its customers or to liquidate inventory at sufficient prices. Underwriting standards for single-family real estate purpose loans are heavily regulated by statutory requirements. However, these loans have risks associated with declines in collateral value. Many consumer loans are unsecured and depend solely on the client’s availability of funds for the repayment of the loans. | |||||||||||||||||||||||||||||||||||||
The Company regularly monitors the credit quality of its loan portfolio. Credit quality refers to the current and expected ability of clients to repay their obligations according to the contractual terms of their loans. Credit quality is evaluated through assignment of individual loan grades as well as past due and performing status analysis. Credit-quality indicators allow the Company to assess the inherent loss on certain individual loans and pools of loans. | |||||||||||||||||||||||||||||||||||||
The Company uses an internal risk rating system to classify and monitor the credit quality of all commercial loans. Loan risk ratings are based on a graduated scale representing increasing likelihood of loss. Responsibility for the assignment of risk ratings to commercial loans rests with the individual loan officer assigned to each loan subject to verification by the Credit Administration department, which is independent of the loan officers. Risk ratings are also reviewed periodically by an independent third-party loan review firm that reports directly to the Board of Directors. Individual loan officers are also responsible for ensuring risk ratings remain appropriate over the life of the loan. Commercial loan risk ratings are summarized as follows: | |||||||||||||||||||||||||||||||||||||
Risk rating | Description | Specific characteristics | |||||||||||||||||||||||||||||||||||
1 | Superior Quality | Fully secured by liquid collateral held at the Company | |||||||||||||||||||||||||||||||||||
2 | High Quality | Secured loans to public companies with satisfactory credit ratings and financial strength or secured by properly margined public securities | |||||||||||||||||||||||||||||||||||
3 | Satisfactory | Loans with reasonable credit risk to borrowers with satisfactory credit and financial strength (may include unsecured loans with defined primary and secondary repayment sources) | |||||||||||||||||||||||||||||||||||
4 | Pass | Loans with an elevated credit risk to clients with an adequate credit history and financial strength (includes loans with inherent industry risk with support from principals and/or guarantors) | |||||||||||||||||||||||||||||||||||
W | Watch | A subset of “Pass”, watch loans have somewhat elevated credit risk trends (e.g., financial, economic or industry specific) to clients with an adequate credit history and financial strength | |||||||||||||||||||||||||||||||||||
5 | Special Mention | Loans with potential credit weakness that deserve management attention that, if left uncorrected, may result in deterioration of repayment prospects for the loan | |||||||||||||||||||||||||||||||||||
6 | Substandard | Loans inadequately protected by the current sound worth and paying capacity of the client or of the collateral pledged that have well-defined weaknesses that jeopardize the liquidation of the loan combined with a distinct possibility that the Company will sustain some loss if the deficiencies are not corrected | |||||||||||||||||||||||||||||||||||
7 | Doubtful | Loans with all the weaknesses of “Substandard” with additional factors that make collection or liquidation in full highly questionable and improbable (generally these loans are placed on nonaccrual status) | |||||||||||||||||||||||||||||||||||
8 | Loss | Loans considered uncollectible that are immediately charged-off for which some recovery may exist, but the probability of such recovery does not warrant reflecting the loan as an asset | |||||||||||||||||||||||||||||||||||
NR | Not Rated | Primarily consists of individual consumer loans not assigned a risk rating. Also, commercial loans in process for which an assigned risk rating has not yet been determined as underwriting steps are currently being taken to determine the appropriate risk rating to be assigned. | |||||||||||||||||||||||||||||||||||
Credit quality of the consumer loan portfolio is monitored through review of delinquency measures and nonaccrual levels on a portfolio-level basis. In general, higher levels of amounts past due and loans in nonaccrual status are indicative of increased credit risk and higher potential inherent losses within these loan portfolios. | |||||||||||||||||||||||||||||||||||||
The following table summarizes various internal credit-quality indicators of gross loans, by class, at December 31, 2014 (in thousands). | |||||||||||||||||||||||||||||||||||||
Construction, land | Multifamily residential | Nonfarm nonresidential | Total commercial real | ||||||||||||||||||||||||||||||||||
development and other | estate | ||||||||||||||||||||||||||||||||||||
land loans | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||
Grade 2 | - | - | - | - | |||||||||||||||||||||||||||||||||
Grade 3 | 3,337 | 144 | 74,966 | 78,447 | |||||||||||||||||||||||||||||||||
Grade 4 | 17,826 | 1,191 | 183,829 | 202,846 | |||||||||||||||||||||||||||||||||
Grade W | 9,595 | 7,690 | 62,429 | 79,714 | |||||||||||||||||||||||||||||||||
Grade 5 | 138 | - | 25,502 | 25,640 | |||||||||||||||||||||||||||||||||
Grade 6 | 1,724 | - | 25,131 | 26,855 | |||||||||||||||||||||||||||||||||
Grade 7 | - | - | 1,051 | 1,051 | |||||||||||||||||||||||||||||||||
Not risk rated* | 15,443 | - | 29 | 15,472 | |||||||||||||||||||||||||||||||||
Total | $ | 48,063 | $ | 9,025 | $ | 372,937 | $ | 430,025 | |||||||||||||||||||||||||||||
*Consumer real estate loans, included within construction, land development and other land loans, are not risk rated in accordance with the Company's policy. | |||||||||||||||||||||||||||||||||||||
Commercial and | |||||||||||||||||||||||||||||||||||||
industrial | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | 753 | |||||||||||||||||||||||||||||||||||
Grade 2 | 1,534 | ||||||||||||||||||||||||||||||||||||
Grade 3 | 12,864 | ||||||||||||||||||||||||||||||||||||
Grade 4 | 53,171 | ||||||||||||||||||||||||||||||||||||
Grade W | 3,953 | ||||||||||||||||||||||||||||||||||||
Grade 5 | 5,786 | ||||||||||||||||||||||||||||||||||||
Grade 6 | 2,476 | ||||||||||||||||||||||||||||||||||||
Grade 7 | 339 | ||||||||||||||||||||||||||||||||||||
Not risk rated | 51 | ||||||||||||||||||||||||||||||||||||
Total | $ | 80,927 | |||||||||||||||||||||||||||||||||||
Single-family residential revolving, open-end loans | Single-family residential closed-end, first lien | Single-family residential closed-end, junior lien | Total single-family | ||||||||||||||||||||||||||||||||||
residential loans | |||||||||||||||||||||||||||||||||||||
Performing | $ | 79,667 | $ | 119,079 | $ | 2,710 | $ | 201,456 | |||||||||||||||||||||||||||||
Nonperforming | 977 | 1,928 | 78 | 2,983 | |||||||||||||||||||||||||||||||||
Total | $ | 80,644 | $ | 121,007 | $ | 2,788 | $ | 204,439 | |||||||||||||||||||||||||||||
Indirect automobile | All other consumer | Total consumer | |||||||||||||||||||||||||||||||||||
Performing | $ | 66,161 | $ | 10,673 | $ | 76,834 | |||||||||||||||||||||||||||||||
Nonperforming | 116 | 34 | 150 | ||||||||||||||||||||||||||||||||||
Total | $ | 66,277 | $ | 10,707 | $ | 76,984 | |||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||||
Performing | $ | 12,684 | |||||||||||||||||||||||||||||||||||
Nonperforming | - | ||||||||||||||||||||||||||||||||||||
Total | $ | 12,684 | |||||||||||||||||||||||||||||||||||
The following table summarizes various internal credit-quality indicators of gross loans, by class, at December 31, 2013 (in thousands). | |||||||||||||||||||||||||||||||||||||
Construction, land | Multifamily residential | Nonfarm nonresidential | Total commercial real | ||||||||||||||||||||||||||||||||||
development and other | estate | ||||||||||||||||||||||||||||||||||||
land loans | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||
Grade 2 | - | - | - | - | |||||||||||||||||||||||||||||||||
Grade 3 | 10,025 | 259 | 69,954 | 80,238 | |||||||||||||||||||||||||||||||||
Grade 4 | 34,654 | 887 | 171,585 | 207,126 | |||||||||||||||||||||||||||||||||
Grade W | 8,679 | 9,079 | 83,843 | 101,601 | |||||||||||||||||||||||||||||||||
Grade 5 | 2,202 | - | 16,727 | 18,929 | |||||||||||||||||||||||||||||||||
Grade 6 | 4,400 | 181 | 24,352 | 28,933 | |||||||||||||||||||||||||||||||||
Grade 7 | 803 | - | 1,604 | 2,407 | |||||||||||||||||||||||||||||||||
Not risk rated* | 15,795 | 11 | 412 | 16,218 | |||||||||||||||||||||||||||||||||
Total | $ | 76,558 | $ | 10,417 | $ | 368,477 | $ | 455,452 | |||||||||||||||||||||||||||||
*Consumer real estate loans, included within construction, land development and other land loans, are not risk rated in accordance with the Company's policy. | |||||||||||||||||||||||||||||||||||||
Commercial and | |||||||||||||||||||||||||||||||||||||
industrial | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | 879 | |||||||||||||||||||||||||||||||||||
Grade 2 | 1,186 | ||||||||||||||||||||||||||||||||||||
Grade 3 | 8,830 | ||||||||||||||||||||||||||||||||||||
Grade 4 | 51,167 | ||||||||||||||||||||||||||||||||||||
Grade W | 5,151 | ||||||||||||||||||||||||||||||||||||
Grade 5 | 2,361 | ||||||||||||||||||||||||||||||||||||
Grade 6 | 2,923 | ||||||||||||||||||||||||||||||||||||
Grade 7 | 494 | ||||||||||||||||||||||||||||||||||||
Not risk rated | 87 | ||||||||||||||||||||||||||||||||||||
Total | $ | 73,078 | |||||||||||||||||||||||||||||||||||
Single-family residential revolving, open-end loans | Single-family residential closed-end, first lien | Single-family residential closed-end, junior lien | Total single-family residential loans | ||||||||||||||||||||||||||||||||||
Performing | $ | 69,121 | $ | 101,100 | $ | 3,802 | $ | 174,023 | |||||||||||||||||||||||||||||
Nonperforming | 797 | 3,176 | 129 | 4,102 | |||||||||||||||||||||||||||||||||
Total | $ | 69,918 | $ | 104,276 | $ | 3,931 | $ | 178,125 | |||||||||||||||||||||||||||||
Indirect automobile | All other consumer | Total consumer | |||||||||||||||||||||||||||||||||||
Performing | $ | 38,514 | $ | 11,349 | $ | 49,863 | |||||||||||||||||||||||||||||||
Nonperforming | 210 | 26 | 236 | ||||||||||||||||||||||||||||||||||
Total | $ | 38,724 | $ | 11,375 | $ | 50,099 | |||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||||
Performing | $ | 10,759 | |||||||||||||||||||||||||||||||||||
Nonperforming | - | ||||||||||||||||||||||||||||||||||||
Total | $ | 10,759 | |||||||||||||||||||||||||||||||||||
The following table summarizes delinquencies, by class, at December 31, 2014 (in thousands). | |||||||||||||||||||||||||||||||||||||
30-89 days past due and still accruing interest | Greater than 90 days past due and still accruing interest | Greater than 90 days past due and not accruing interest (nonaccrual) | Total past due | Current | Loans, gross | ||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 112 | $ | - | $ | 441 | $ | 553 | $ | 47,510 | $ | 48,063 | |||||||||||||||||||||||||
Multifamily residential | - | - | - | - | 9,025 | 9,025 | |||||||||||||||||||||||||||||||
Nonfarm nonresidential | 2,102 | - | 8,174 | 10,276 | 362,661 | 372,937 | |||||||||||||||||||||||||||||||
Total commercial real estate | 2,214 | - | 8,615 | 10,829 | 419,196 | 430,025 | |||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 151 | - | 977 | 1,128 | 79,516 | 80,644 | |||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 827 | 238 | 1,928 | 2,993 | 118,014 | 121,007 | |||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 16 | - | 78 | 94 | 2,694 | 2,788 | |||||||||||||||||||||||||||||||
Total single-family residential | 994 | 238 | 2,983 | 4,215 | 200,224 | 204,439 | |||||||||||||||||||||||||||||||
Commercial and industrial | 361 | - | 715 | 1,076 | 79,851 | 80,927 | |||||||||||||||||||||||||||||||
Indirect automobile | 283 | - | 116 | 399 | 65,878 | 66,277 | |||||||||||||||||||||||||||||||
All other consumer | 33 | - | 34 | 67 | 10,640 | 10,707 | |||||||||||||||||||||||||||||||
Total consumer | 316 | - | 150 | 466 | 76,518 | 76,984 | |||||||||||||||||||||||||||||||
Farmland | - | - | - | - | 6,032 | 6,032 | |||||||||||||||||||||||||||||||
Obligations of states and political subdivisions of the U.S. | - | - | - | - | 416 | 416 | |||||||||||||||||||||||||||||||
Other | - | - | - | - | 6,236 | 6,236 | |||||||||||||||||||||||||||||||
Total other | - | - | - | - | 12,684 | 12,684 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 3,885 | $ | 238 | $ | 12,463 | $ | 16,586 | $ | 788,473 | $ | 805,059 | |||||||||||||||||||||||||
Additional interest income of $478 thousand would have been reported during the year ended December 31, 2014 had loans classified as nonaccrual during the period performed in accordance with their current contractual terms. This interest income was not recorded in the Company’s Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||||
The following table summarizes delinquencies, by class, at December 31, 2013 (in thousands). | |||||||||||||||||||||||||||||||||||||
30-89 days | Greater than | Total past due | Current | Loans, gross | |||||||||||||||||||||||||||||||||
past due and | 90 days past | ||||||||||||||||||||||||||||||||||||
still accruing | due and not | ||||||||||||||||||||||||||||||||||||
interest | accruing | ||||||||||||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||||||||||||
(nonaccrual) | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 82 | $ | 3,872 | $ | 3,954 | $ | 72,604 | $ | 76,558 | |||||||||||||||||||||||||||
Multifamily residential | - | 181 | 181 | 10,236 | 10,417 | ||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 1,199 | 4,832 | 6,031 | 362,446 | 368,477 | ||||||||||||||||||||||||||||||||
Total commercial real estate | 1,281 | 8,885 | 10,166 | 445,286 | 455,452 | ||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 148 | 797 | 945 | 68,973 | 69,918 | ||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,091 | 3,176 | 4,267 | 100,009 | 104,276 | ||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 41 | 129 | 170 | 3,761 | 3,931 | ||||||||||||||||||||||||||||||||
Total single-family residential | 1,280 | 4,102 | 5,382 | 172,743 | 178,125 | ||||||||||||||||||||||||||||||||
Commercial and industrial | 306 | 1,885 | 2,191 | 70,887 | 73,078 | ||||||||||||||||||||||||||||||||
Indirect automobile | 294 | 210 | 504 | 38,220 | 38,724 | ||||||||||||||||||||||||||||||||
All other consumer | 41 | 26 | 67 | 11,308 | 11,375 | ||||||||||||||||||||||||||||||||
Total consumer | 335 | 236 | 571 | 49,528 | 50,099 | ||||||||||||||||||||||||||||||||
Farmland | - | - | - | 3,394 | 3,394 | ||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions of the U.S. | - | - | - | 497 | 497 | ||||||||||||||||||||||||||||||||
Other | - | - | - | 6,868 | 6,868 | ||||||||||||||||||||||||||||||||
Total other | - | - | - | 10,759 | 10,759 | ||||||||||||||||||||||||||||||||
Loans, gross | $ | 3,202 | $ | 15,108 | $ | 18,310 | $ | 749,203 | $ | 767,513 | |||||||||||||||||||||||||||
Additional interest income of $757 thousand would have been reported during the year ended December 31, 2013 had loans classified as nonaccrual during the period performed in accordance with their current contractual terms. This interest income was not recorded in the Company’s Consolidated Statements of Income. | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings. The following table summarizes the carrying balance of troubled debt restructurings at the dates indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Accrual | $ | 15,585 | $ | 26,744 | |||||||||||||||||||||||||||||||||
Nonaccrual | 4,286 | 2,184 | |||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | $ | 19,871 | $ | 28,928 | |||||||||||||||||||||||||||||||||
The following table summarizes troubled debt restructurings removed from this classification during the periods indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Carrying balance | $ | 8,615 | $ | 7,077 | $ | 6,018 | |||||||||||||||||||||||||||||||
Count | 7 | 14 | 19 | ||||||||||||||||||||||||||||||||||
Of the $8.6 million of loans removed from troubled debt restructuring classification during 2014, three loans totaling $7.1 million were also removed from classification as impaired loans for purposes of determining the allowance for loan losses. | |||||||||||||||||||||||||||||||||||||
The following table summarizes, by class, loans that were modified resulting in troubled debt restructurings during the periods indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | |||||||||||||||||||||||||||||
Construction, land development and other land loans | - | $ | - | $ | - | 1 | $ | 60 | $ | 60 | 1 | $ | 4,089 | $ | 4,089 | ||||||||||||||||||||||
Nonfarm nonresidential | 1 | 883 | 883 | 4 | 4,364 | 4,364 | 8 | 2,305 | 2,305 | ||||||||||||||||||||||||||||
Total commercial real estate | 1 | 883 | 883 | 5 | 4,424 | 4,424 | 9 | 6,394 | 6,394 | ||||||||||||||||||||||||||||
Single-family real estate | - | - | - | - | - | - | 4 | 715 | 715 | ||||||||||||||||||||||||||||
Commercial and industrial | 3 | 2,665 | 1,365 | 1 | 242 | 242 | 3 | 506 | 501 | ||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,548 | $ | 2,248 | 6 | $ | 4,666 | $ | 4,666 | 16 | $ | 7,615 | $ | 7,610 | ||||||||||||||||||||||
The following table summarizes, by type of concession, loans that were modified resulting in troubled debt restructurings during the periods indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | |||||||||||||||||||||||||||||
Rate concession | - | $ | - | $ | - | 1 | $ | 60 | $ | 60 | - | $ | - | $ | - | ||||||||||||||||||||||
Term concession | 1 | 883 | 883 | 5 | 4,606 | 4,606 | 6 | 5,047 | 5,047 | ||||||||||||||||||||||||||||
Term and principal concessions | 3 | 2,665 | 1,365 | - | - | - | - | - | - | ||||||||||||||||||||||||||||
Rate and term concessions | - | - | - | - | - | - | 10 | 2,568 | 2,563 | ||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,548 | $ | 2,248 | 6 | $ | 4,666 | $ | 4,666 | 16 | $ | 7,615 | $ | 7,610 | ||||||||||||||||||||||
The following table summarizes, by class, loans that were modified resulting in troubled debt restructurings within the previous 12-month period for which there was a payment default during the periods indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||
loans | investment | loans | investment | loans | investment | ||||||||||||||||||||||||||||||||
Construction, land development and other land loans | - | $ | - | 1 | $ | 56 | - | $ | - | ||||||||||||||||||||||||||||
Nonfarm nonresidential | 2 | 2,597 | - | - | 2 | 2,122 | |||||||||||||||||||||||||||||||
Total commercial real estate | 2 | 2,597 | 1 | 56 | 2 | 2,122 | |||||||||||||||||||||||||||||||
Single-family real estate | - | - | 1 | 404 | 2 | 293 | |||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 486 | 1 | 127 | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,083 | 3 | $ | 587 | 4 | $ | 2,415 | ||||||||||||||||||||||||||||
Impaired Loans. The following tables summarize the composition of impaired loans at the dates indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Accrual troubled debt restructured loans | $ | 15,585 | $ | 26,744 | |||||||||||||||||||||||||||||||||
Nonaccrual troubled debt restructured loans | 4,286 | 2,184 | |||||||||||||||||||||||||||||||||||
Accrual other loans | 7,955 | 9,187 | |||||||||||||||||||||||||||||||||||
Nonaccrual other loans | 3,736 | 6,580 | |||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 31,562 | $ | 44,695 | |||||||||||||||||||||||||||||||||
The following table summarizes the composition of and information relative to impaired loans, by class, at December 31, 2014 (in thousands). | |||||||||||||||||||||||||||||||||||||
Loans, gross | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||
investment | principal | allowance | |||||||||||||||||||||||||||||||||||
balance | |||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 283 | $ | 805 | |||||||||||||||||||||||||||||||||
Multifamily residential | - | - | |||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 18,534 | 23,055 | |||||||||||||||||||||||||||||||||||
Total commercial real estate | 18,817 | 23,860 | |||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 333 | 333 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 645 | 750 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 24 | 24 | |||||||||||||||||||||||||||||||||||
Total single-family residential | 1,002 | 1,107 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 607 | 2,208 | |||||||||||||||||||||||||||||||||||
Consumer | - | - | |||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 20,426 | $ | 27,175 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 6 | $ | 6 | $ | - | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 10,186 | 12,021 | 1,555 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 10,192 | 12,027 | 1,555 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | - | - | - | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 208 | 208 | 24 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 106 | 106 | 41 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 314 | 314 | 65 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 616 | 616 | 115 | ||||||||||||||||||||||||||||||||||
Consumer | 14 | 14 | 2 | ||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 11,136 | $ | 12,971 | $ | 1,737 | |||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 289 | $ | 811 | $ | - | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 28,720 | 35,076 | 1,555 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 29,009 | 35,887 | 1,555 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 333 | 333 | - | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 853 | 958 | 24 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 130 | 130 | 41 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 1,316 | 1,421 | 65 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,223 | 2,824 | 115 | ||||||||||||||||||||||||||||||||||
Consumer | 14 | 14 | 2 | ||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 31,562 | $ | 40,146 | $ | 1,737 | |||||||||||||||||||||||||||||||
Interest income recognized on impaired loans during the year ended December 31, 2014 was $1.5 million. The average balance of total impaired loans was $41.6 million for the same period. | |||||||||||||||||||||||||||||||||||||
The following table summarizes the composition of and information relative to impaired loans, by class, at December 31, 2013 (in thousands). | |||||||||||||||||||||||||||||||||||||
Loans, gross | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||
investment | principal | allowance | |||||||||||||||||||||||||||||||||||
balance | |||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 3,244 | $ | 6,503 | |||||||||||||||||||||||||||||||||
Multifamily residential | 181 | 239 | |||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 17,414 | 24,422 | |||||||||||||||||||||||||||||||||||
Total commercial real estate | 20,839 | 31,164 | |||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | - | - | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,369 | 5,811 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | - | - | |||||||||||||||||||||||||||||||||||
Total single-family residential | 1,369 | 5,811 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 753 | 1,150 | |||||||||||||||||||||||||||||||||||
Consumer | 7 | 7 | |||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 22,968 | $ | 38,132 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 260 | $ | 260 | $ | 68 | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 18,839 | 18,839 | 1,668 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 19,099 | 19,099 | 1,736 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 404 | 404 | 83 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 323 | 323 | 18 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 195 | 195 | 62 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 922 | 922 | 163 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,680 | 2,980 | 644 | ||||||||||||||||||||||||||||||||||
Consumer | 26 | 26 | 12 | ||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 21,727 | $ | 23,027 | $ | 2,555 | |||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 3,504 | $ | 6,763 | $ | 68 | |||||||||||||||||||||||||||||||
Multifamily residential | 181 | 239 | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 36,253 | 43,261 | 1,668 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 39,938 | 50,263 | 1,736 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 404 | 404 | 83 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,692 | 6,134 | 18 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 195 | 195 | 62 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 2,291 | 6,733 | 163 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 2,433 | 4,130 | 644 | ||||||||||||||||||||||||||||||||||
Consumer | 33 | 33 | 12 | ||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 44,695 | $ | 61,159 | $ | 2,555 | |||||||||||||||||||||||||||||||
Interest income recognized on impaired loans during the year ended December 31, 2013 was $1.6 million. The average balance of total impaired loans was $44.7 million for the same period. | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
The following tables summarize the allowance for loan losses and recorded investment in gross loans, by portfolio segment, at the dates and for the periods indicated (in thousands). | |||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Allowance for loan losses, beginning of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
Provision for loan losses | (2,506 | ) | (553 | ) | (152 | ) | 362 | 549 | (2,300 | ) | |||||||||||||||||||||||||||
Loan charge-offs | 1,082 | 697 | 530 | 225 | 555 | 3,089 | |||||||||||||||||||||||||||||||
Loan recoveries | (396 | ) | (982 | ) | (47 | ) | (83 | ) | (316 | ) | (1,824 | ) | |||||||||||||||||||||||||
Net loans charged-off (recovered) | 686 | (285 | ) | 483 | 142 | 239 | 1,265 | ||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 7,373 | $ | 2,856 | $ | 1,047 | $ | 1,338 | $ | 306 | $ | 12,920 | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,555 | $ | 65 | $ | 115 | $ | 2 | $ | - | $ | 1,737 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 5,818 | 2,791 | 932 | 1,336 | 306 | 11,183 | |||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 7,373 | $ | 2,856 | $ | 1,047 | $ | 1,338 | $ | 306 | $ | 12,920 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 29,009 | $ | 1,316 | $ | 1,223 | $ | 14 | $ | - | $ | 31,562 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 401,016 | 203,123 | 79,704 | 76,970 | 12,684 | 773,497 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 430,025 | $ | 204,439 | $ | 80,927 | $ | 76,984 | $ | 12,684 | $ | 805,059 | |||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Allowance for loan losses, beginning of period | $ | 12,317 | $ | 3,140 | $ | 1,264 | $ | 1,093 | $ | 11 | $ | 17,825 | |||||||||||||||||||||||||
Provision for loan losses | (263 | ) | 580 | 2,697 | 172 | 279 | 3,465 | ||||||||||||||||||||||||||||||
Loan charge-offs | 1,780 | 731 | 2,426 | 285 | 669 | 5,891 | |||||||||||||||||||||||||||||||
Loan recoveries | (291 | ) | (135 | ) | (147 | ) | (138 | ) | (375 | ) | (1,086 | ) | |||||||||||||||||||||||||
Net loans charged-off | 1,489 | 596 | 2,279 | 147 | 294 | 4,805 | |||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,736 | $ | 163 | $ | 644 | $ | 12 | $ | - | $ | 2,555 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 8,829 | 2,961 | 1,038 | 1,106 | (4 | ) | 13,930 | ||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 39,938 | $ | 2,291 | $ | 2,433 | $ | 33 | $ | - | $ | 44,695 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 415,514 | 175,834 | 70,645 | 50,066 | 10,759 | 722,818 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 455,452 | $ | 178,125 | $ | 73,078 | $ | 50,099 | $ | 10,759 | $ | 767,513 | |||||||||||||||||||||||||
Note_6_Other_Loans_Held_for_Sa
Note 6 - Other Loans Held for Sale and Valuation Allowance | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Loans Held For Sale And Valuation Allowance [Abstract] | |||||||||
Loans Held For Sale And Valuation Allowance [Text Block] | 6 | Other Loans Held for Sale and Valuation Allowance | |||||||
The following table summarizes the changes in net other loans held for sale at the dates and for the periods indicated (in thousands). | |||||||||
At and for the years ended December 31, | |||||||||
2014 | 2013 | ||||||||
Other loans held for sale, net of valuation allowance, beginning of period | $ | - | $ | 776 | |||||
SBA loans transferred to other loans held for sale | 1,166 | 2,015 | |||||||
Proceeds from sales of SBA loans | (1,236 | ) | (2,222 | ) | |||||
Gain on sale of SBA loans | 70 | 207 | |||||||
SBA loan activity, net | - | - | |||||||
Proceeds from sales of other loans held for sale | - | (1,102 | ) | ||||||
Gain on sale of other loans held for sale | - | 326 | |||||||
Other loans held for sale activity, net | - | (776 | ) | ||||||
Other loans held for sale, net of valuation allowance, end of period | $ | - | $ | - | |||||
The following table summarizes the activity in the valuation allowance on other loans held for sale at the dates and for the periods indicated (in thousands). | |||||||||
At and for the years ended December 31, | |||||||||
2014 | 2013 | ||||||||
Valuation allowance, beginning of period | $ | - | $ | 1,512 | |||||
Reduction resulting from sales of other loans held for sale | - | (1,512 | ) | ||||||
Valuation allowance, end of period | $ | - | $ | - | |||||
Note_7_Premises_and_Equipment_
Note 7 - Premises and Equipment, Net | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||
Property, Plant and Equipment Disclosure [Text Block] | 7 | Premises andEquipment, net | ||||||||
The following table summarizes premises and equipment balances, net at the dates indicated (in thousands). | ||||||||||
December 31, | ||||||||||
2014 | 2013 | |||||||||
Land | $ | 5,521 | $ | 5,521 | ||||||
Buildings | 19,539 | 19,395 | ||||||||
Furniture and equipment | 13,395 | 13,259 | ||||||||
Software | 5,556 | 5,344 | ||||||||
Leasehold improvements | 3,782 | 3,746 | ||||||||
Capital lease asset | 557 | 1,396 | ||||||||
Bank automobiles | 94 | 95 | ||||||||
Premises and equipment, gross | $ | 48,444 | $ | 48,756 | ||||||
Accumulated depreciation | (26,438 | ) | (25,389 | ) | ||||||
Premises and equipment, net | $ | 22,006 | $ | 23,367 | ||||||
At December 31, 2014, the Bank provided banking products and services through 25 branches of which five were leased and 20 were owned. | ||||||||||
Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was $2.4 million, $2.6 million and $2.5 million, respectively. |
Note_8_Servicing_Rights
Note 8 - Servicing Rights | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||
Other Assets Disclosure [Text Block] | 8 | Servicing Rights | |||||||||||
Residential Mortgage-Servicing Rights | |||||||||||||
The following table summarizes the changes in residential mortgage-servicing rights at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Mortgage-servicing rights portfolio, net of valuation allowance, beginning of period | $ | 2,431 | $ | 2,584 | $ | 2,586 | |||||||
Capitalized mortgage-servicing rights | 390 | 612 | 864 | ||||||||||
Mortgage-servicing rights portfolio amortization and impairment | (573 | ) | (765 | ) | (866 | ) | |||||||
Mortgage-servicing rights portfolio, net of valuation allowance, end of period | $ | 2,248 | $ | 2,431 | $ | 2,584 | |||||||
The estimated fair value of residential mortgage-servicing rights was $3.4 million and $3.8 million at December 31, 2014 and 2013, respectively. | |||||||||||||
The following table summarizes the activity in the valuation allowance for impairment of the residential mortgage-servicing rights portfolio at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Valuation allowance, beginning of period | $ | 31 | $ | 41 | $ | 39 | |||||||
Additions charged (reductions credited) to operations, net | (10 | ) | (10 | ) | 2 | ||||||||
Valuation allowance, end of period | $ | 21 | $ | 31 | $ | 41 | |||||||
The following table summarizes the estimated future amortization expense of residential mortgage-servicing rights, net of the valuation allowance for impairment, at December 31, 2014 during the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2015 | $ | 661 | |||||||||||
2016 | 531 | ||||||||||||
2017 | 423 | ||||||||||||
2018 | 333 | ||||||||||||
2019 | 260 | ||||||||||||
Thereafter | 61 | ||||||||||||
$ | 2,269 | ||||||||||||
SBA Servicing Rights | |||||||||||||
The following table summarizes the changes in SBA servicing rights at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
SBA servicing rights portfolio, net of valuation allowance, beginning of period | $ | 64 | $ | 39 | $ | - | |||||||
Capitalized SBA servicing rights | 31 | 47 | 40 | ||||||||||
SBA servicing rights portfolio amortization and impairment | (18 | ) | (22 | ) | (1 | ) | |||||||
SBA servicing rights portfolio, net of valuation allowance, end of period | $ | 77 | $ | 64 | $ | 39 | |||||||
The estimated fair value of SBA servicing rights was $84 thousand and $69 thousand at December 31, 2014 and 2013, respectively. | |||||||||||||
The following table summarizes the activity in the valuation allowance for impairment of the SBA servicing rights portfolio at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the year ended | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Valuation allowance, beginning of period | $ | 8 | $ | - | |||||||||
Additions charged to operations, net | 4 | 8 | |||||||||||
Valuation allowance, end of period | $ | 12 | $ | 8 | |||||||||
The following table summarizes the estimated future amortization expense of SBA servicing rights (without regard to the valuation allowance for impairment) at December 31, 2014 during the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2015 | $ | 14 | |||||||||||
2016 | 12 | ||||||||||||
2017 | 11 | ||||||||||||
2018 | 10 | ||||||||||||
2019 | 8 | ||||||||||||
Thereafter | 34 | ||||||||||||
$ | 89 | ||||||||||||
Note_9_Foreclosed_Real_Estate_
Note 9 - Foreclosed Real Estate and Repossessed Personal Property | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Foreclosed Real Estate And Repossessed Personal Property [Abstract] | |||||||||||||
Foreclosed Real Estate And Repossessed Personal Property [Text Block] | 9 | Foreclosed Real Estate and Repossessed Personal Property | |||||||||||
Composition | |||||||||||||
The following table summarizes foreclosed real estate and repossessed personal property at the dates indicated (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Foreclosed real estate | $ | 5,949 | $ | 7,502 | |||||||||
Repossessed personal property | 35 | 43 | |||||||||||
Total foreclosed real estate and repossessed personal property | $ | 5,984 | $ | 7,545 | |||||||||
Included in foreclosed real estate at December 31, 2014 were 56 residential lots with an aggregate net book value of $4.7 million, in three separate communities related to one real estate development. At December 31, 2014, two lots with a carrying value of $405 thousand were under contract for sale and closed during January 2015 at prices above carrying value. | |||||||||||||
Foreclosed Real Estate Activity | |||||||||||||
The following table summarizes changes in foreclosed real estate at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Foreclosed real estate, beginning of period | $ | 7,502 | $ | 10,911 | $ | 27,663 | |||||||
Plus: new foreclosed real estate | 2,312 | 2,541 | 5,389 | ||||||||||
Less: proceeds from sale of foreclosed real estate | (2,521 | ) | (2,973 | ) | (13,524 | ) | |||||||
Plus: gain on sale of foreclosed real estate | 386 | 142 | 729 | ||||||||||
Less: writedowns and losses charged to expense | (1,730 | ) | (3,119 | ) | (9,346 | ) | |||||||
Foreclosed real estate, end of period | $ | 5,949 | $ | 7,502 | $ | 10,911 | |||||||
Note_10_BankOwned_Life_Insuran
Note 10 - Bank-Owned Life Insurance | 12 Months Ended | |
Dec. 31, 2014 | ||
Investments, All Other Investments [Abstract] | ||
Life Insurance, Corporate or Bank Owned [Text Block] | 10 | Bank-Owned Life Insurance |
The Company owns two fully-funded general account life insurance policies on certain members of its leadership team. The Company paid all premiums on these policies during 2013 and is the sole beneficiary; however, the Company provides a $50 thousand death benefit to the beneficiaries of the covered teammates. Each policy was funded with a premium of $5.0 million paid to AA+ rated insurance companies. The policies are reflected in the Consolidated Balance Sheets at the cash surrender value of $10.4 million and $10.0 million at December 31, 2014 and 2013, respectively. | ||
In addition, the Company has fully-funded life insurance policies on two former members of executive management who are retired from the Company. At both December 31, 2014 and 2013, the cash surrender value of these policies attributable to the Company totaled $1.6 million. |
Note_11_Deposits
Note 11 - Deposits | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Deposit Liabilities Disclosures [Text Block] | 11 | Deposits | |||||||||||
Composition | |||||||||||||
The following table summarizes the composition of deposits at the dates indicated (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Transaction deposits | $ | 528,633 | $ | 494,289 | |||||||||
Money market deposits | 138,449 | 136,476 | |||||||||||
Savings deposits | 90,318 | 79,760 | |||||||||||
Time deposits $100,000 and greater | 67,419 | 79,654 | |||||||||||
Time deposits less than $100,000 | 103,501 | 117,181 | |||||||||||
Total deposits | $ | 928,320 | $ | 907,360 | |||||||||
At December 31, 2014 and 2013, $531 thousand and $564 thousand, respectively, of overdrawn transaction deposit accounts were reclassified to loans. | |||||||||||||
At December 31, 2014 and 2013, $17.6 million and $22.2 million, respectively, of time deposits meet or exceed the FDIC insurance limit of $250,000. | |||||||||||||
Time Deposit Maturities | |||||||||||||
The following table summarizes the maturity distribution of time deposit accounts at December 31, 2014 during the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2015 | $ | 124,154 | |||||||||||
2016 | 24,321 | ||||||||||||
2017 | 12,809 | ||||||||||||
2018 | 7,262 | ||||||||||||
2019 | 2,343 | ||||||||||||
Thereafter | 31 | ||||||||||||
$ | 170,920 | ||||||||||||
Time Deposits $100 Thousand and Greater | |||||||||||||
The following table summarizes time deposit accounts of $100 thousand and greater by maturity as of December 31, 2014 (in thousands). | |||||||||||||
As of December 31, 2014 | |||||||||||||
Three months or less | $ | 19,401 | |||||||||||
Over three months through six months | 12,174 | ||||||||||||
Over six months through twelve months | 14,187 | ||||||||||||
Twelve months or less | 45,762 | ||||||||||||
Over twelve months | 21,657 | ||||||||||||
Total time deposits $100 thousand and greater | $ | 67,419 | |||||||||||
Interest Expense on Deposit Accounts | |||||||||||||
The following table summarizes interest expense on deposits for the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Transaction deposits | $ | 41 | $ | 39 | $ | 39 | |||||||
Money market deposits | 38 | 32 | 47 | ||||||||||
Savings deposits | 9 | 10 | 9 | ||||||||||
Time deposits | 406 | 2,176 | 5,041 | ||||||||||
Total interest expense on deposits | $ | 494 | $ | 2,257 | $ | 5,136 | |||||||
Note_12_Borrowings
Note 12 - Borrowings | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Debt Disclosure [Text Block] | 12 | Borrowings | |||||||||||||||||||||||
The following table provides detail with respect to borrowings at the dates and for the periods indicated (dollars in thousands). | |||||||||||||||||||||||||
At and for the years ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Retail repurchase agreements | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | 15,921 | $ | 18,175 | $ | 15,357 | |||||||||||||||||||
Average amount outstanding during year | 20,054 | 18,916 | 20,485 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | 31,418 | 24,640 | 27,985 | ||||||||||||||||||||||
Rate paid at year-end | 0.01 | % | 0.01 | % | 0.01 | % | |||||||||||||||||||
Weighted average rate paid during the year | 0.01 | 0.01 | 0.01 | ||||||||||||||||||||||
FHLB advances | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | 35,000 | $ | 35,000 | $ | - | |||||||||||||||||||
Average amount outstanding during year | 12,205 | 425 | 1 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | 40,000 | 35,000 | - | ||||||||||||||||||||||
Rate paid at year-end | 0.24 | % | 0.17 | % | - | % | |||||||||||||||||||
Weighted average rate paid during the year | 0.22 | 0.24 | - | ||||||||||||||||||||||
Other borrowings | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | - | $ | - | $ | - | |||||||||||||||||||
Average amount outstanding during year | 16 | 159 | 30 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | - | - | - | ||||||||||||||||||||||
Rate paid at year-end | - | % | - | % | - | % | |||||||||||||||||||
Weighted average rate paid during the year | - | - | - | ||||||||||||||||||||||
Retail Repurchase Agreements | |||||||||||||||||||||||||
Retail repurchase agreements represent overnight secured borrowing arrangements between the Bank and certain clients. Retail repurchase agreements are not insured deposits and were secured by $36.6 million of the Company’s investment securities available for sale at December 31, 2014. | |||||||||||||||||||||||||
FHLB Advances | |||||||||||||||||||||||||
As disclosed in Note 4, Investment Securities Available for Sale, and Note 5, Loans, the Bank may pledge investment securities and loans to collateralize FHLB advances. Additionally, the Bank may pledge cash and cash equivalents. The amount that can be borrowed is based on the balance of the type of asset pledged as collateral multiplied by lendable collateral value percentages as calculated by the FHLB. The FHLB allows the Bank to borrow up to 25% of total assets, subject to available collateral. | |||||||||||||||||||||||||
The following table summarizes the collateral utilization and availability of borrowings from the FHLB at the dates indicated (in thousands). | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Available lendable loan collateral value pledged to serve against FHLB advances | $ | 79,139 | $ | 90,225 | |||||||||||||||||||||
FHLB advances outstanding | 35,000 | 35,000 | |||||||||||||||||||||||
Excess lendable collateral value pledged to serve against FHLB advances | $ | 44,139 | $ | 55,225 | |||||||||||||||||||||
All FHLB advances at December 31, 2014 matured during January 2015 and were replaced with new advances maturing between April and July 2015 with a weighted-average rate of 0.26%. | |||||||||||||||||||||||||
Federal Reserve Discount Window | |||||||||||||||||||||||||
At December 31, 2014 and 2013, $39.5 million and $2.2 million, respectively, of loans and investment securities were pledged as collateral to cover the various Federal Reserve services that are available for use by the Bank. Of these amounts, $29.1 million and $2.1 million were available as lendable collateral at December 31, 2014 and 2013, respectively. The Bank’s borrowings from the Federal Reserve Discount Window (the “Discount Window”) are at the primary credit rate. Primary credit is available through the Discount Window to generally sound depository institutions on a very short-term basis, typically overnight, at a rate above the Federal Open Market Committee target rate for federal funds. The Bank’s maximum maturity for potential borrowings is overnight. The Bank has not drawn on this availability since its initial establishment in 2009 other than to periodically test its ability to access the line. The Federal Reserve has the discretion to deny approval of borrowing requests. | |||||||||||||||||||||||||
Other Borrowings | |||||||||||||||||||||||||
Other borrowings generally consist of outstanding borrowings on correspondent bank lines of credit. | |||||||||||||||||||||||||
Correspondent Bank Lines of Credit. The following table summarizes the Bank’s correspondent bank lines of credit at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Secured | Unsecured | Total | Secured | Unsecured | Total | ||||||||||||||||||||
Amount available | $ | 15,000 | $ | 65,000 | $ | 80,000 | $ | 35,000 | $ | 25,000 | $ | 60,000 | |||||||||||||
Count | 2 | 6 | 8 | 3 | 2 | 5 | |||||||||||||||||||
The changes in the composition of our correspondent bank lines of credit during 2014 were the result of the additional of two unsecured lines totaling $20 million as well as the a previously secured correspondence line of credit being converted into one secured and one unsecured line of credit.. | |||||||||||||||||||||||||
None of the lines of credit were utilized as of either date. These correspondent bank funding sources may be canceled at any time at the correspondent bank’s discretion. |
Note_13_Shareholders_Equity
Note 13 - Shareholders' Equity | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | 13 | Shareholders’ Equity | |||||||||||
Common Shares | |||||||||||||
At December 31, 2014, the Company had 75,000,000 authorized shares of common stock of which 12,810,388 were issued and outstanding. As of February 23, 2015, the Company has reserved a total of 554,645 shares for future issuance under various equity incentive plans. | |||||||||||||
For disclosure regarding actual and potential share issuances under the Company’s equity award plans, see Note 16, Equity-Based Compensation. | |||||||||||||
Accumulated Other Comprehensive Loss | |||||||||||||
The following table summarizes the components of accumulated other comprehensive loss, net of tax at the dates indicated (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net unrealized loss on investment securities available for sale | $ | (819 | ) | $ | (2,990 | ) | $ | 1,491 | |||||
Net unrealized defined benefit pension plan actuarial loss | (9,084 | ) | (7,303 | ) | (8,208 | ) | |||||||
Total accumulated other comprehensive loss, net of tax | $ | (9,903 | ) | $ | (10,293 | ) | $ | (6,717 | ) | ||||
Authorized Preferred Shares | |||||||||||||
The Company has authorized for issuance 2,500,000 shares of preferred stock with such preferences, limitations and relative rights within legal limits of the class, or one or more series within the class, as are set by the Board of Directors. To date, the Company has not issued any preferred shares. | |||||||||||||
Cash Dividends | |||||||||||||
Dividends from the Bank are the Company’s primary source of funds for payment of dividends to its common shareholders. During the year ended December 31, 2014, the Company declared and paid cash dividends on its common stock as follows: | |||||||||||||
Declaration date | Record date | Payment date | Cash dividend per | ||||||||||
common share | |||||||||||||
7/17/14 | 8/4/14 | 8/18/14 | $ | 0.05 | |||||||||
10/16/14 | 11/3/14 | 11/17/14 | 0.05 | ||||||||||
Subsequently, the Company paid dividends of $0.08 per common share on February 16, 2015. | |||||||||||||
The dividends payable to shareholders were funded by dividends paid to the Company by the Bank. |
Note_14_Income_Taxes
Note 14 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | 14 | Income Taxes | |||||||||||
The following table summarizes income tax expense (benefit) attributable to continuing operations for the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current income tax expense | |||||||||||||
Federal | $ | 300 | $ | 181 | $ | - | |||||||
State | 503 | 1,238 | - | ||||||||||
Total current expense | 803 | 1,419 | - | ||||||||||
Deferred income tax expense (benefit) | |||||||||||||
Federal | 4,666 | (19,798 | ) | 2,721 | |||||||||
State | - | (36 | ) | - | |||||||||
Total deferred expense (benefit) | 4,666 | (19,834 | ) | 2,721 | |||||||||
Total current and deferred expense (benefit) | $ | 5,469 | $ | (18,415 | ) | $ | 2,721 | ||||||
For the year ended December 31, 2014, the deferred income tax expense of $4.7 million consisted primarily of a $1.2 million reduction of the net deferred tax asset attributable to allowance for loan losses and a $2.8 million reduction in the net deferred tax asset attributable to prior year federal net operating loss carryforwards resulting from the usage of such carryforwards to offset taxable income. | |||||||||||||
For the year ended December 31, 2013, the deferred income tax benefit of $19.8 million consisted primarily of a $22.4 million decrease in the valuation allowance previously required against the net deferred tax asset as of December 31, 2012. The deferred income tax benefit was partially offset by a decrease in net deferred tax assets arising during 2013. | |||||||||||||
As of December 31, 2014 and 2013, we determined that no valuation allowance was necessary due to sustained trends in profitability, projected reversals of existing taxable temporary differences and projections of future taxable income. | |||||||||||||
No excess tax benefit from equity-based awards were recorded in shareholders’ equity during the years ended December 31, 2014, 2013 and 2012. | |||||||||||||
The following table reconciles the Company’s statutory federal income tax rate to the effective income tax rate for the periods indicated. | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Changes from statutory rates resulting from: | |||||||||||||
State income tax, net of federal benefit | 2.2 | 8.6 | - | ||||||||||
Tax-exempt income | (1.6 | ) | (1.5 | ) | (74.1 | ) | |||||||
Expenses not deductible for tax purposes | 0.1 | 0.3 | 2.6 | ||||||||||
(Decrease) increase in deferred tax asset valuation allowance | - | (240.0 | ) | 352.2 | |||||||||
Other | 1.2 | 0.1 | 1.9 | ||||||||||
Effective income tax rate | 36.9 | % | (197.5 | )% | 317.6 | % | |||||||
The following table summarizes the Company’s gross deferred tax assets, related valuation allowance and gross deferred tax liabilities at the dates indicated (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets | |||||||||||||
Recognized built-in loss carryforward | $ | 7,609 | $ | 7,689 | |||||||||
Allowance for loan losses | 4,522 | 5,770 | |||||||||||
Federal net operating loss carryforward | 3,275 | 6,072 | |||||||||||
Writedowns of foreclosed real estate | 1,912 | 2,369 | |||||||||||
Equity-based compensation | 1,054 | 1,047 | |||||||||||
Pension Plan contributions and accrued liability | 1,053 | 463 | |||||||||||
Alternative minimum tax credit carryforward | 750 | 493 | |||||||||||
Unrealized losses on investment securities available for sale | 501 | 1,829 | |||||||||||
Other | 375 | 365 | |||||||||||
Nonaccrual loan interest | - | 202 | |||||||||||
Deferred tax assets, gross | 21,051 | 26,299 | |||||||||||
Valuation allowance | - | - | |||||||||||
Deferred tax assets, net of valuation allowance | 21,051 | 26,299 | |||||||||||
Deferred tax liabilities | |||||||||||||
Deferred loan fees and costs, net | (1,703 | ) | (1,592 | ) | |||||||||
Premises, equipment and capital leases | (1,148 | ) | (1,380 | ) | |||||||||
Servicing rights | (814 | ) | (874 | ) | |||||||||
Other | (333 | ) | (366 | ) | |||||||||
Deferred tax liabilities, gross | (3,998 | ) | (4,212 | ) | |||||||||
Deferred tax asset, net | $ | 17,053 | $ | 22,087 | |||||||||
As of December 31, 2014, the Company had federal net operating loss carryforwards of $9.4 million, which, if not utilized to offset future taxable income, will expire as follows: $200 thousand in 2031, $8.9 million in 2032 and $279 thousand in 2034. During 2014, the Company utilized $9.2 million of federal net operating loss carryforwards to offset federal taxable income. This amount was comprised of $7.3 million of federal net operating loss carryforwards that would have expired in 2031 and $1.9 million that would have expired in 2032. | |||||||||||||
As of December 31, 2014, net deferred tax assets of $17.1 million were recorded in the Company’s Consolidated Balance Sheet, a portion of which includes the after-tax impact of net operating loss carryforwards. Based on available information as of this date, the Company determined that a valuation allowance against the deferred tax asset was not necessary. | |||||||||||||
In 2010, the Company consummated a private offering pursuant to which the Company issued 9,993,995 shares of its common stock at $10.40 per share (the “Private Placement”). The Private Placement was considered a change in control under the Internal Revenue Code and Regulations. Accordingly, the Company was required to evaluate potential limitation or deferral of its ability to carryforward pre-acquisition net operating losses and to determine the amount of net unrealized pre-acquisition built-in losses which are subject to similar limitation or deferral. Under the Internal Revenue Code and Regulations, net unrealized pre-acquisition built-in losses realized within five years of the change in control on October 7, 2010 are subject to potential limitation. Through that date, the Company will continue to analyze its ability to utilize such losses to offset anticipated future taxable income as pre-acquisition built-in losses are ultimately realized. As of December 31, 2014, the Company estimates that future utilization of built-in losses of $53 million generated prior to the Private Placement will be limited to $1.1 million per year. However, this estimate will not be conclusively confirmed until the five-year limitation period expires in October 2015. The Company’s deferred tax asset does not include any recognized built-in losses that exceed the amount expected to be utilized against future taxable income. | |||||||||||||
The Company is subject to U.S. federal and South Carolina state income tax. Tax authorities in various jurisdictions may examine the Company. The Company is not currently undergoing a U.S. federal or South Carolina state examination; however, tax years dating back to 2010 are generally considered subject to examination based on federal and state regulations. |
Note_15_Benefit_Plans
Note 15 - Benefit Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | 15 | Benefit Plans | |||||||||||
401(k) Plan | |||||||||||||
Teammates are given the opportunity to participate in The Palmetto Bank 401(k) Retirement Plan (the “401(k) Plan”) which is designed to supplement a teammate’s retirement income. Teammates are eligible to participate in the 401(k) Plan immediately when hired and participants are able to defer a portion of their compensation into the 401(k) Plan. Matching contributions, if any, are contributed to the 401(k) Plan prior to the end of each plan year. | |||||||||||||
From January 1, 2012 through June 30, 2013, the Company suspended its regular ongoing matching of teammate contributions to the 401(k) Plan. The Company reinstated its match of teammate contributions effective July 1, 2013. From July 1, 2013 through June 30, 2014, teammate contributions were matched at a rate of $0.10 per dollar up to 6% of a teammate’s eligible compensation. Effective July 1, 2014, the match of teammate contributions was increased to a rate of $0.25 per dollar up to 6% of a teammate’s eligible compensation. The Company’s matching contributions totaled $86 thousand and $28 thousand for the years ended December 31, 2014 and 2013, respectively. | |||||||||||||
Under the Internal Revenue Service (“IRS”) rules related to 401(k) plans, the IRS imposes certain annual limitations on the amount of allowable contributions to the 401(k) Plan by highly compensated participants (as determined annually by applying the required IRS tests). To the extent teammates receive contribution refunds of prior deferrals as a result of the annual limitations, the Bank has in place a benefit equalization plan into which such teammates may contribute refunds received. The benefit equalization plan operates similar to the 401(k) Plan except that this plan is a nonqualified plan under the IRS rules, and the assets of the benefit equalization plan are subject to the general creditors of the Bank. At December 31, 2014, assets in the benefit equalization plan were $40 thousand and are included in Other assets in the Consolidated Balance Sheet. An offsetting liability of $40 thousand is reflected in Other liabilities and represents the Bank’s obligation to benefit equalization plan participants. There were no assets or liabilities associated with the benefit equalization plan at December 31, 2013. | |||||||||||||
Defined Benefit Pension Plan | |||||||||||||
Prior to 2008, the Company offered a noncontributory, defined benefit pension plan that covered all full-time teammates having at least 12 months of continuous service and having attained age 21. Effective December 31, 2007, the Company ceased accruing pension benefits for participants in the Pension Plan. Although no previously accrued benefits were lost, teammates no longer accrue benefits for service subsequent to 2007. | |||||||||||||
The Company accounts for the Pension Plan using an actuarial model. This model allocates pension costs over the service period of teammates in the Pension Plan. The underlying principle is that teammates render services ratably over this period; therefore, the income statement impacts of pension benefits should follow a similar pattern. | |||||||||||||
Defined Benefit Pension Plan Funded Status. The Company recognizes the funded status of the Pension Plan in the Consolidated Balance Sheets. The funded status is the difference between the Pension Plan assets and the projected benefit obligation at the balance sheet date. The following table summarizes the combined change in benefit obligation, Pension Plan assets, and funded status of the Pension Plan at the dates and for the periods indicated (in thousands). | |||||||||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Change in benefit obligation | |||||||||||||
Benefit obligation, beginning of period | $ | 18,122 | $ | 18,507 | $ | 19,786 | |||||||
Interest cost | 892 | 848 | 958 | ||||||||||
Net actuarial loss | 4,110 | 80 | 668 | ||||||||||
Benefits paid | (2,686 | ) | (1,313 | ) | (2,905 | ) | |||||||
Benefit obligation, end of period | 20,438 | 18,122 | 18,507 | ||||||||||
Change in Pension Plan assets | |||||||||||||
Fair value of Pension Plan assets, beginning of period | 16,798 | 14,540 | 13,663 | ||||||||||
Return on Pension Plan assets | 1,717 | 1,678 | 2,182 | ||||||||||
Employer contribution | 1,600 | 1,893 | 1,600 | ||||||||||
Benefits paid | (2,686 | ) | (1,313 | ) | (2,905 | ) | |||||||
Fair value of Pension Plan assets, end of period | 17,429 | 16,798 | 14,540 | ||||||||||
Underfunded status | $ | (3,009 | ) | $ | (1,324 | ) | $ | (3,967 | ) | ||||
Net actuarial loss | $ | (13,975 | ) | $ | (11,235 | ) | $ | (12,627 | ) | ||||
Income tax benefit | (4,891 | ) | (3,932 | ) | (4,419 | ) | |||||||
Accumulated other comprehensive loss impact | $ | (9,084 | ) | $ | (7,303 | ) | $ | (8,208 | ) | ||||
Cost of the Pension Plan. The following table summarizes the components of net periodic pension expense, which is included in Salaries and other personnel expense in the Consolidated Statements of Income (Loss), for the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest cost | $ | 892 | $ | 848 | $ | 958 | |||||||
Expected return on plan assets | (1,076 | ) | (1,186 | ) | (1,133 | ) | |||||||
Amortization of net actuarial loss | 729 | 980 | 911 | ||||||||||
Net periodic pension expense | $ | 545 | $ | 642 | $ | 736 | |||||||
As a result of the decision to cease accruing benefits under the Pension Plan effective December 31, 2007, no costs relative to service have been necessary since that date as teammates no longer accrue benefits for services rendered. | |||||||||||||
Actuarial gains and losses also result from changes in the discount rate used to measure plan obligations and other variances in demographic experience such as retirements and mortality. Actuarial gains and losses, prior service costs and credits and any remaining transition amounts that had not yet been recognized through net periodic pension expense since the Pension Plan was frozen are amortized as a component of net periodic pension expense. | |||||||||||||
Defined Benefit Pension Plan Assumptions. One of the principal components of the net periodic pension expense calculation is the expected long-term rate of return on plan assets. The use of an expected long-term rate of return on plan assets may cause the recognition of income returns that are greater or less than the actual returns of plan assets in any given year. The expected long-term rate of return is designed to approximate the actual long-term rate of return over time. Therefore, the pattern of income / expense recognition should match the stable pattern of services provided by teammates over the life of the pension obligation. Expected returns on Pension Plan assets are developed in conjunction with input from external advisors and take into account the investment policy, actual investment allocation, long-term expected rates of return on the relevant asset classes and considers any material forward-looking return expectations for these major asset classes. Differences between expected and actual returns in each year, if any, are included in the net actuarial gain or loss amount, which is recognized in other comprehensive income. | |||||||||||||
A discount rate is used to determine the present value of future benefit obligations. The discount rate is determined in consultation with the third-party actuary and is set by matching the projected benefit cash flow to a yield curve consisting of the 50% highest yielding issuances within each defined maturity tranche of a AA-only universe of bonds monitored by the third-party actuary. The yield curve provides transparency with respect to the underlying bonds and provides matching of future benefit obligations to the payment of benefits. This yield curve was also used during 2012 and 2013 and reflects the Pension Plan specific duration. | |||||||||||||
The following table summarizes the assumptions used in computing the benefit obligation and the adjusted net periodic expense for the periods indicated. | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-average assumptions used in computing balance sheet liabilty: | |||||||||||||
Discount rate | 4.16 | % | 5.04 | % | 4.19 | % | |||||||
Expected long-term rate of return on Pension Plan assets | 6.3 | 8 | 8 | ||||||||||
Rate of increase in compensation levels | n/a | n/a | n/a | ||||||||||
Weighted-average assumptions used in computing net periodic benefit expense: | |||||||||||||
Discount rate | 5.04 | % | 4.19 | % | 5.02 | % | |||||||
Expected long-term rate of return on Pension Plan assets | 6.3 | 8 | 8 | ||||||||||
Rate of increase in compensation levels | n/a | n/a | n/a | ||||||||||
In addition, the 2014 actuarial valuation utilized the Society of Actuary’s updated 2014 mortality table while 2013 and 2012 utilized the 2000 mortality table. | |||||||||||||
Pension Plan Assets. The following table summarizes the fair value of Pension Plan assets by major category at the dates indicated (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Cash and cash equivalents | $ | 902 | $ | 4,440 | |||||||||
U.S. government and agency securities | - | 549 | |||||||||||
Municipal securities | - | 470 | |||||||||||
Corporate bonds | - | 3,398 | |||||||||||
Mutual funds | 902 | 3,596 | |||||||||||
Corporate stocks | 1,085 | 3,329 | |||||||||||
Exchange traded funds | 14,351 | 287 | |||||||||||
Foreign equities | 182 | 694 | |||||||||||
Accrued interest receivable | - | 30 | |||||||||||
Other | 7 | 5 | |||||||||||
Total Pension Plan assets | $ | 17,429 | $ | 16,798 | |||||||||
The investment objectives of the Pension Plan assets are designed to fund the projected benefit obligation and to maximize returns in order to minimize contributions within reasonable and prudent levels of risk. The precise amount for which these obligations will be settled depends on future events, including the life expectancy of the Pension Plan participants. The Pension Plan’s investment strategy balances the requirement to generate return, using higher returning assets, with the need to control risk using less volatile assets. Risks include, but are not limited to, inflation, volatility in equity values and changes in interest rates that could cause the Pension Plan to become underfunded, thereby increasing the Pension Plan’s dependence on contributions from the Company. | |||||||||||||
Pension Plan assets are managed by a third-party firm as approved by the Board of Directors. The Compensation Committee of the Board of Directors is responsible for maintaining the investment policy of the Pension Plan, approving the appointment of the investment manager and reviewing the performance of the Pension Plan assets at least annually. | |||||||||||||
Investments within the Pension Plan are diversified with the intent to minimize the risk of large losses to the Pension Plan. The total portfolio is constructed and maintained to provide prudent diversification within each investment category, and the Company assumes that the volatility of the portfolio will be similar to the market as a whole. The asset allocation ranges represent a long-term perspective. Therefore, rapid unanticipated market shifts may cause the asset mix to fall outside the policy range. Such divergences are expected to be short-term in nature. | |||||||||||||
Fair Value Measurements. Following is a description of the valuation methodology used in determining fair value measurements of Pension Plan assets: | |||||||||||||
● | Cash and cash equivalents: Valued at the net asset value of units held by the Pension Plan. | ||||||||||||
● | U.S. government and agency securities: Valued at the closing price reported in the active market in which the individual securities are traded. | ||||||||||||
● | Municipal securities: Valued at the closing price reported in the active market in which the individual securities are traded. | ||||||||||||
● | Corporate bonds: Valued at the closing price reported in the active market in which the bond is traded. | ||||||||||||
● | Mutual funds: Valued at the closing price reported in the active market in which the instrument is traded. | ||||||||||||
● | Corporate stocks: Valued at the closing price reported in the active market in which the individual securities are traded. | ||||||||||||
● | Exchange traded funds: Valued at the closing price reported in the active market in which the instrument is traded. | ||||||||||||
● | Foreign equities: Valued at the closing price reported in the active market in which the instrument is traded. | ||||||||||||
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | |||||||||||||
The following tables summarize Pension Plan assets measured at fair value at the dates indicated aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Level 1 | $ | 1,994 | $ | 7,804 | |||||||||
Level 2 | 15,435 | 8,994 | |||||||||||
Level 3 | - | - | |||||||||||
Total Pension Plan assets | $ | 17,429 | $ | 16,798 | |||||||||
There were no changes in the Pension Plan’s Level 3 assets during 2013 or 2014. | |||||||||||||
Future Expected Contributions. The Company’s expects to make contributions of $1.6 million to the Pension Plan during 2015. | |||||||||||||
Expected Future Defined Benefit Pension Plan Payments. The following table summarizes the estimated future benefit payments expected to be paid from the Pension Plan at December 31, 2014 for the periods indicated (in thousands). | |||||||||||||
For the years ended December 31, | |||||||||||||
2015 | $ | 1,002 | |||||||||||
2016 | 1,017 | ||||||||||||
2017 | 1,030 | ||||||||||||
2018 | 1,069 | ||||||||||||
2019 | 1,092 | ||||||||||||
2020-2024 | 5,711 | ||||||||||||
The expected benefits to be paid are based on the same assumptions used to measure the Company’s benefit obligation at December 31, 2014. |
Note_16_Equity_Based_Compensat
Note 16 - Equity Based Compensation | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 16 | Equity-Based Compensation | ||||||||||||||||||||||||||
1997 Stock Compensation Plan | ||||||||||||||||||||||||||||
Stock option awards have been granted under the Palmetto Bancshares, Inc. 1997 Stock Compensation Plan (the “1997 Plan”). The 1997 Plan terminated in 2007 and no options have been granted under the 1997 Plan since then. However, the termination did not impact options previously granted under the 1997 Plan. All outstanding options expire at various dates through January 16, 2017 and all stock option awards granted have a five-year vesting term and an exercise period of 10 years. The Board of Directors determined the terms of the options on the grant date, and the option exercise price was at least 100% of the fair value of the Company’s common stock as of the grant date. Options granted to teammates were “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code, while options granted to individuals other than teammates were “nonqualified stock options” (i.e., options that are not “incentive stock options”). | ||||||||||||||||||||||||||||
The following table summarizes stock option activity for the 1997 Plan at the dates and for the periods indicated. | ||||||||||||||||||||||||||||
Stock options | Weighted- | |||||||||||||||||||||||||||
outstanding | average | |||||||||||||||||||||||||||
exercise price | ||||||||||||||||||||||||||||
Outstanding, December 31, 2011 | 18,703 | $ | 93.65 | |||||||||||||||||||||||||
Forfeited | (6,750 | ) | 94.98 | |||||||||||||||||||||||||
Outstanding, December 31, 2012 | 11,953 | 92.89 | ||||||||||||||||||||||||||
Expired | (5,503 | ) | 80 | |||||||||||||||||||||||||
Outstanding, December 31, 2013 | 6,450 | 103.89 | ||||||||||||||||||||||||||
Forfeited | (1,250 | ) | 109.2 | |||||||||||||||||||||||||
Expired | (2,250 | ) | 93.2 | |||||||||||||||||||||||||
Outstanding, December 31, 2014 | 2,950 | 109.8 | ||||||||||||||||||||||||||
The following table summarizes information regarding stock options under the 1997 Plan that were outstanding and exercisable at December 31, 2014. | ||||||||||||||||||||||||||||
Weighted-average exercise price | Number of stock options outstanding and exercisable | Weighted-average remaining contractual life (years) | ||||||||||||||||||||||||||
$ | 106.4 | 250 | 0.05 | |||||||||||||||||||||||||
109.2 | 2,500 | 1.42 | ||||||||||||||||||||||||||
121.6 | 200 | 2.05 | ||||||||||||||||||||||||||
Total | 2,950 | 1.35 | ||||||||||||||||||||||||||
At December 31, 2014 and 2013, the fair value of the Company’s common stock did not exceed the exercise price of any options outstanding and exercisable under the 1997 Plan and, therefore, the stock options had no intrinsic value. | ||||||||||||||||||||||||||||
2008 Restricted Stock Plan | ||||||||||||||||||||||||||||
Under the 2008 Restricted Stock Plan (the “2008 Plan”), 62,500 shares of common stock were reserved for issuance subject to its anti-dilution provisions. Forfeitures are returned to the available pool of common stock for future issuance. Generally, the recipient will have the right to receive dividends, if any, with respect to such shares of restricted stock, to vote such shares and to enjoy all other shareholder rights except that the Company will retain custody of the stock certificate, and the recipient may not sell, transfer, pledge or otherwise dispose of the restricted stock until the forfeiture restrictions have expired. | ||||||||||||||||||||||||||||
Prior to 2011, restricted stock granted to directors under the 2008 Plan generally had a five-year vesting period. Beginning in 2011, with the exception of annual retainer grants that vest immediately, restricted stock granted to directors under the 2008 Plan generally had a three-year vesting period designed to coincide with director service terms. Beginning in 2012, restricted stock awarded to directors upon initial appointment and reelection to the Board of Directors continued to be granted with vesting periods to coincide with director service terms but were changed to require a director to purchase shares of the Company’s common stock on the open market to be eligible to receive a matching grant of restricted stock awards. The matching grants at initial appointment and reelection are capped at an economic value of $10 thousand. | ||||||||||||||||||||||||||||
Shares of restricted stock granted to teammates and directors under the 2008 Plan are subject to vesting provisions based on continuous employment and service for a specified time period following the date of grant as follows: | ||||||||||||||||||||||||||||
Vesting Period | ||||||||||||||||||||||||||||
Issued to directors in connection with annual retainer | Immediate | |||||||||||||||||||||||||||
Issued to directors in connection with initial appointment or re-election to the Board of Directors | Length of Board of Directors term (currently 3 years) | |||||||||||||||||||||||||||
Issued to teammates | 5 years | |||||||||||||||||||||||||||
The following table summarizes restricted stock activity at the dates and for the periods indicated. | ||||||||||||||||||||||||||||
Shares of | Weighted- | |||||||||||||||||||||||||||
restricted | average | |||||||||||||||||||||||||||
stock | grant date | |||||||||||||||||||||||||||
fair value | ||||||||||||||||||||||||||||
per share | ||||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2011 | 31,696 | $ | 49.38 | |||||||||||||||||||||||||
Grants | 19,967 | 5.51 | ||||||||||||||||||||||||||
Forfeited | (350 | ) | 168 | |||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2012 | 51,313 | 31.5 | ||||||||||||||||||||||||||
Grants | 11,073 | 9.68 | ||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2013 | 62,386 | 27.63 | ||||||||||||||||||||||||||
Grants | - | - | ||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2014 | 62,386 | 27.63 | ||||||||||||||||||||||||||
Remaining shares available for grant, December 31, 2013 and 2014 | 114 | |||||||||||||||||||||||||||
There were no grants or forfeitures of restricted stock under the Company’s 2008 Plan during the year ended December 31, 2014. | ||||||||||||||||||||||||||||
Of the 62,386 net restricted stock awards granted under the 2008 Plan, the following table summarizes vesting status and activity at the dates and for the period indicated. | ||||||||||||||||||||||||||||
Unvested | Vested | Total | ||||||||||||||||||||||||||
granted, net | ||||||||||||||||||||||||||||
of forfeitures | ||||||||||||||||||||||||||||
Balance, December 31, 2013 | 11,247 | 51,139 | 62,386 | |||||||||||||||||||||||||
Vested | (5,180 | ) | 5,180 | - | ||||||||||||||||||||||||
Balance, December 31, 2014 | 6,067 | 56,319 | 62,386 | |||||||||||||||||||||||||
The weighted-average grant date fair value of restricted stock awards that vested during the year ended December 31, 2014 was $23.95 per share. The fair value of shares vested during the year ended December 31, 2014 based on vesting date fair value totaled $74 thousand. | ||||||||||||||||||||||||||||
2011 Stock Incentive Plan | ||||||||||||||||||||||||||||
Under the 2011 Stock Incentive Plan, as amended (the “2011 Plan”), the Board of Directors may grant a total of 700,000 of various types of equity awards (including stock options and/or restricted stock awards) to teammates and directors. The 2011 Plan requires that stock options be issued with an exercise price at or above the fair market value per share of the Company’s common stock on the date of grant. | ||||||||||||||||||||||||||||
Under the 2011 Plan, the Board of Directors, at its discretion, determines the amount of equity awards to be granted, vesting conditions, type of award and any other terms and conditions. No options are exercisable more than 10 years after the date of grant. Generally, the recipient will have the right to receive dividends, if any, with respect to any shares of restricted stock granted, to vote such shares and to enjoy all other shareholder rights, except that the Company will retain custody of the stock certificate, and the recipient may not sell, transfer, pledge or otherwise dispose of the restricted stock until the forfeiture restrictions have expired. Forfeitures of restricted stock are returned to the available pool of common stock for future issuance. | ||||||||||||||||||||||||||||
The following table summarizes stock option and restricted stock information for the 2011 Plan at the dates and for the periods indicated. | ||||||||||||||||||||||||||||
Total shares | Stock options outstanding | Weighted- | Shares of | Weighted- | ||||||||||||||||||||||||
average | restricted stock | average grant | ||||||||||||||||||||||||||
exercise price | date fair value | |||||||||||||||||||||||||||
per share | per share | |||||||||||||||||||||||||||
2011 Grants | 473,002 | 383,251 | $ | 10.51 | 89,751 | $ | 10.48 | |||||||||||||||||||||
2012 Grants | 8,020 | - | - | 8,020 | 6.5 | |||||||||||||||||||||||
2013 Grants | 8,811 | - | - | 8,811 | 13.7 | |||||||||||||||||||||||
2013 Forfeitures | (575 | ) | - | - | (575 | ) | 13.95 | |||||||||||||||||||||
2013 Exercises | - | (11,250 | ) | 11 | - | - | ||||||||||||||||||||||
2014 Grants | 57,351 | 30,000 | 15.97 | 27,351 | 15.15 | |||||||||||||||||||||||
2014 Forfeitures | (625 | ) | - | - | (625 | ) | 6.5 | |||||||||||||||||||||
Granted, net of forfeitures, December 31, 2014 | 545,984 | 132,733 | ||||||||||||||||||||||||||
Outstanding, December 31, 2014 | 402,001 | 10.9 | ||||||||||||||||||||||||||
Total shares available for grant under the 2011 Plan | 700,000 | |||||||||||||||||||||||||||
Remaining shares available for grant, December 31, 2014 | 154,016 | |||||||||||||||||||||||||||
The 2011 grants were made subject to time vesting restrictions that began in 2014 and performance requirements including termination of the Bank’s Consent Order with the Supervisory Authorities and two consecutive quarters of net income. At December 31, 2012, the quarterly net income vesting condition was met, and the Consent Order was terminated on January 30, 2013. Therefore, the performance requirements are fully satisfied. Except for 11,250 stock options and 2,500 shares of restricted stock that vested in 2013 based on the time vesting restrictions, the awards vest from 2014 to 2016. | ||||||||||||||||||||||||||||
During 2012, 8,020 shares of restricted stock were awarded to certain teammates in recognition of performance. These awards are subject to the same time and performance conditions described above and, assuming the time vesting conditions are met, will vest from 2015 to 2017. | ||||||||||||||||||||||||||||
During 2013, 8,811 shares of restricted stock were awarded to certain teammates in recognition of performance and upon initial employment. These awards are subject to time vesting conditions and, assuming the time vesting conditions are met, vest from 2014 to 2016. | ||||||||||||||||||||||||||||
During 2014, 5,404 shares of restricted stock with a total grant date fair value of $70 thousand were granted to the non-management members of the Board of Directors as compensation for their annual Board retainers and 2,547 shares of restricted stock were granted to certain directors re-elected to the Board in 2014. The 2,547 shares of restricted stock are subject to time vesting conditions and, assuming the time vesting conditions are met, will vest from 2015 to 2017. In addition, during 2014, 19,400 shares of restricted stock and 30,000 stock options were awarded to certain teammates in recognition of performance and/or upon initial employment. These grants are subject to time vesting conditions. Assuming the time vesting conditions are met, 2,500 shares of the restricted stock awarded will vest from 2014 to 2017, and 16,900 shares of the restricted stock awarded will vest from 2015 to 2019. In addition, assuming the time vesting conditions are met, 4,000 stock options awarded will vest from 2015 to 2017, and 26,000 stock options awarded will vest from 2015 to 2019. | ||||||||||||||||||||||||||||
The following table summarizes the activity of restricted stock under the 2011 Plan at the dates and for the period indicated. | ||||||||||||||||||||||||||||
Unvested | Vested | Total | ||||||||||||||||||||||||||
granted, net | ||||||||||||||||||||||||||||
of forfeitures | ||||||||||||||||||||||||||||
Balance, December 31, 2013 | 103,507 | 2,500 | 106,007 | |||||||||||||||||||||||||
Granted | 27,351 | - | 27,351 | |||||||||||||||||||||||||
Forfeited | (625 | ) | - | (625 | ) | |||||||||||||||||||||||
Vested | (37,399 | ) | 37,399 | - | ||||||||||||||||||||||||
Balance, December 31, 2014 | 92,834 | 39,899 | 132,733 | |||||||||||||||||||||||||
The weighted-average grant date fair value of restricted stock awards that vested during the year ended December 31, 2014 was $11.07 per share. The value of shares vested during the year ended December 31, 2014 based on vesting date fair value totaled $508 thousand. | ||||||||||||||||||||||||||||
For both the 2008 Plan and the 2011 Plan, a portion of the restricted shares that vested during 2014 were net-settled to cover the required withholding taxes, and the grantee received the common stock equal to the vested shares less the net-settled shares. Withholding taxes for the remaining shares that vested during 2014 were paid in cash by the grantee. The net-share settlements reduced the number of common shares outstanding. | ||||||||||||||||||||||||||||
The following table summarizes information regarding stock options under the 2011 Plan that were outstanding and exercisable at December 31, 2014. | ||||||||||||||||||||||||||||
Options outstanding | Options exercisable | |||||||||||||||||||||||||||
Weighted- | Number of | Weighted- | Value of | Number of | Weighted- | Value of | ||||||||||||||||||||||
average | stock options | average | outstanding in-the- | stock options | average | exercisable in-the- | ||||||||||||||||||||||
exercise | remaining | money stock | remaining | money stock | ||||||||||||||||||||||||
price | contractual life | options | contractual life | options | ||||||||||||||||||||||||
(years) | (years) | |||||||||||||||||||||||||||
$ | 10.4 | 312,501 | 6.38 | $ | 1,968,756 | 104,167 | 6.38 | $ | 656,252 | |||||||||||||||||||
11 | 59,500 | 6.54 | 339,150 | 19,833 | 6.54 | 113,048 | ||||||||||||||||||||||
12.96 | 4,000 | 9.14 | 14,960 | - | - | - | ||||||||||||||||||||||
16.43 | 26,000 | 9.96 | 7,020 | - | - | - | ||||||||||||||||||||||
Total | 402,001 | 6.66 | $ | 2,329,886 | 124,000 | 6.4 | $ | 769,300 | ||||||||||||||||||||
Determining Fair Value. The following table summarizes the weighted-average fair value of stock option awards granted under the 2011 Plan during 2014 as estimated on the date of grant using the Black-Scholes option-pricing model and the weighted-average assumptions used to determine the fair value of such grants. | ||||||||||||||||||||||||||||
Option exercise price, per share | $ | 15.97 | ||||||||||||||||||||||||||
Fair value of stock option awards granted, per share | $ | 5.73 | ||||||||||||||||||||||||||
Expected dividend yield | 1.1 | % | ||||||||||||||||||||||||||
Expected volatility | 36 | |||||||||||||||||||||||||||
Risk-free interest rate | 2 | |||||||||||||||||||||||||||
Expected term (years) | 7 | |||||||||||||||||||||||||||
Vesting period (years) | 5 | |||||||||||||||||||||||||||
Compensation Expense Relating to Equity-Based Compensation | ||||||||||||||||||||||||||||
The following table summarizes compensation expense for the 1997 Plan, 2008 Plan and the 2011 Plan charged against pretax income for the periods indicated (in thousands). | ||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
Compensation expense | ||||||||||||||||||||||||||||
1997 Plan | $ | - | $ | - | $ | - | ||||||||||||||||||||||
2008 Plan | 83 | 336 | 343 | |||||||||||||||||||||||||
2011 Plan | 690 | 822 | 766 | |||||||||||||||||||||||||
Total equity-based compensation expense | $ | 773 | $ | 1,158 | $ | 1,109 | ||||||||||||||||||||||
Income tax benefit | $ | 271 | $ | - | $ | - | ||||||||||||||||||||||
At December 31, 2014, the total unrecognized pretax compensation expense related to unvested equity awards granted under the 2008 Plan and the 2011 Plan was $49 thousand and $909 thousand, respectively. This expense is expected to be recognized through 2016 under the 2008 Plan and 2019 under the 2011 Plan. |
Note_17_Average_Share_Informat
Note 17 - Average Share Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | 17 | Average Share Information | |||||||||||
The following table reconciles the denominators of the basic and diluted net income per common share computations for the periods indicated (dollars in thousands, except per share data). | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic net income (loss) per common share | |||||||||||||
Net income (loss) applicable to common shareholders | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Undistributed earnings allocated to participating securities | (61 | ) | (248 | ) | - | ||||||||
Net income (loss) allocated to common shareholders | $ | 9,294 | $ | 27,483 | $ | (1,864 | ) | ||||||
Weighted average basic common shares | 12,696,777 | 12,658,752 | 12,639,379 | ||||||||||
Basic net income (loss) per common share | $ | 0.73 | $ | 2.17 | $ | (0.15 | ) | ||||||
Diluted net income (loss) per common share | |||||||||||||
Net income (loss) applicable to common shareholders | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Undistributed earnings allocated to participating securities | (61 | ) | (248 | ) | - | ||||||||
Net income (loss) allocated to common shareholders | $ | 9,294 | $ | 27,483 | $ | (1,864 | ) | ||||||
Weighted average basic common shares | 12,696,777 | 12,658,752 | 12,639,379 | ||||||||||
Dilutive potential common shares (1) | 65,108 | - | - | ||||||||||
Weighted average diluted common shares | 12,761,885 | 12,658,752 | 12,639,379 | ||||||||||
Diluted net income (loss) per common share | $ | 0.73 | $ | 2.17 | $ | (0.15 | ) | ||||||
(1) Includes dilutive impact of restricted stock and stock options, as applicable | |||||||||||||
No potential common shares were included in the computation of the diluted earnings per common share amount for the year ended December 31, 2013 since application of the two-class method of computing earnings per common share resulted in greater dilution as compared to applying the treasury stock method for restricted stock. No potential common shares were included in the computation of the diluted loss per common share amount for the year ended December 31, 2012 as inclusion would be anti-dilutive given the Company’s net loss during the period. |
Note_18_Commitments_Guarantees
Note 18 - Commitments, Guarantees and Other Contingencies | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | 18 | Commitments, Guaranteesand Other Contingencies | |||||||||||||||||||
Unused lending commitments to clients are not recorded in the Consolidated Balance Sheets until funds are advanced. For commercial clients, lending commitments generally take the form of unused revolving credit arrangements to finance clients’ working capital requirements as well as unused credit arrangements to fund commercial construction. For retail clients, lending commitments are generally unused lines of credit secured by residential property as well as unused credit arrangements to fund residential construction. The Company routinely extends lending commitments for both floating and fixed-rate loans. | |||||||||||||||||||||
The following table summarizes the contractual amounts of the Company’s unused lending commitments relating to extensions of credit with off-balance sheet risk at December 31, 2014 (in thousands). | |||||||||||||||||||||
Commitments to extend credit: | |||||||||||||||||||||
Revolving, open-end loans secured by single-family residential properties | $ | 66,706 | |||||||||||||||||||
Commercial real estate, construction and land development loans secured by real estate | |||||||||||||||||||||
Single-family residential construction loans | 9,477 | ||||||||||||||||||||
Commercial real estate, other construction loans, and land development loans | 41,259 | ||||||||||||||||||||
Commercial and industrial loans | 36,464 | ||||||||||||||||||||
Overdraft protection loans | 30,414 | ||||||||||||||||||||
Other | 16,799 | ||||||||||||||||||||
Total commitments to extend credit | $ | 201,119 | |||||||||||||||||||
Standby letters of credit are issued for clients in connection with contracts between clients and third parties. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a client to a third party. The maximum potential amount of undiscounted future advances related to letters of credit was $2.7 million and $3.7 million at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||
The reserve for estimated credit losses on unfunded lending commitments at December 31, 2014 and 2013 was $472 thousand and $259 thousand, respectively. | |||||||||||||||||||||
For disclosure regarding our derivative financial instruments and hedging activities, see Note 19, Derivative Financial Instruments and Hedging Activities. | |||||||||||||||||||||
Loan Participations | |||||||||||||||||||||
The Company periodically sells portions of loans extended to clients in order to manage overall credit concentrations under loan participation agreements. With regard to loan participations, the Company serves as the lead bank and is, therefore, responsible for certain administrative and other management functions as agent to the participating banks. The participation agreements include certain standard representations and warranties related to the Company’s duties to the participating banks. | |||||||||||||||||||||
Contractual Obligations | |||||||||||||||||||||
In addition to other contractual commitments and arrangements disclosed herein, the Company enters into other contractual obligations in the ordinary course of business. The following table summarizes these contractual obligations at December 31, 2014 (in thousands) except obligations for teammate benefit plans for which obligations are paid from separately identified assets. For disclosure regarding obligations of teammate benefit plans, see Note 15, Benefit Plans. | |||||||||||||||||||||
Less | Over one through three years | Over three through five years | Over | Total | |||||||||||||||||
than one | five years | ||||||||||||||||||||
year | |||||||||||||||||||||
Real property operating lease obligations | $ | 1,733 | $ | 3,329 | $ | 3,347 | $ | 7,115 | $ | 15,524 | |||||||||||
Time deposit accounts | 124,154 | 37,130 | 9,605 | 31 | 170,920 | ||||||||||||||||
Contractually required interest payments on time deposits | 266 | 256 | 43 | - | 565 | ||||||||||||||||
Total | $ | 126,153 | $ | 40,715 | $ | 12,995 | $ | 7,146 | $ | 187,009 | |||||||||||
Obligations under noncancelable real property operating lease agreements noted above are payable over several years with the longest obligation expiring in 2029. Option periods that the Company has not yet exercised are not included in the preceding table. | |||||||||||||||||||||
In 2012, the Company sold a branch for which the lease was assigned to the purchaser of the branch, although the Bank remains as a named party to the lease in the event the purchaser fails to satisfy its obligations. Future lease payments related to this facility to be made by the purchaser total $33 thousand through September 2015. These payments are the primary responsibility of the purchaser, and, therefore, have been excluded from the preceding table. | |||||||||||||||||||||
Though not included in the preceding table, the Company is contractually obligated to make minimum required contributions to the Pension Plan, however, these contributions are determined annually and, therefore, future obligations beyond 2015 cannot be reasonably estimated at this time. For disclosure regarding contributions that the Company expects to contribute to the Pension Plan during 2015, see Note 15, Benefit Plans. | |||||||||||||||||||||
In March 2013, the Bank signed a subscription agreement for a limited partnership investment in Plexus Fund III, L.P. (the “Fund”). The Fund closed on May 1, 2013, raising commitments of $150 million of private limited partnership interests (of which the Bank committed to invest up to $2.0 million) and $150 million of funding commitments from the Small Business Administration in the form of 10-year debentures. The fund is licensed as a Small Business Investment Company under the Small Business Investment Act of 1958. The principal objective of the Fund is the realization of current yield and long-term capital appreciation through mezzanine and equity investments in a diversified portfolio of companies located throughout the United States. The Fund focuses primarily on investments in “lower middle-market companies.” Earnings from the fund will come from returns generated from the underlying investments, less management and other fees payable to the Fund. Capital calls on limited partners may occur through the fifth anniversary of the Fund’s closing (May 1, 2018) at the sole general partner’s discretion on an as-needed basis. The Bank’s commitment represents approximately 1.3% of the Fund’s total capital commitments. During 2013 and 2014, the Bank invested $350 thousand and $250 thousand, respectively, into the Fund in connection with its capital call obligation. As of December 31, 2014, $1.4 million remains subject to additional capital calls by the Fund. Capital calls are at the discretion of the Fund and are expected to be fully invested by 2018. Because the timing and amount of capital calls is not definitive at this point, they have been excluded from the preceding table and not accrued in the Consolidated Balance Sheets. | |||||||||||||||||||||
The Company enters into agreements with third parties with respect to the leasing, servicing, and maintenance of equipment. However, because we believe that these agreements are immaterial when considered individually, or in the aggregate, with regard to our Consolidated Financial Statements, we have not included such agreements in the preceding contractual obligations table. Therefore, we believe that noncompliance with terms of such agreements would not have a material impact on our business, financial condition, results of operations or cash flows. Furthermore, as most such commitments are entered into for a 12-month period with option extensions, long-term obligations beyond 2015 cannot be reasonably estimated at this time. | |||||||||||||||||||||
Legal Proceedings | |||||||||||||||||||||
The Company is a party to claims and lawsuits arising in the course of normal business activities. Management is not aware of any material pending legal proceedings against the Company which, if resolved adversely, would have a material adverse impact on the Company’s financial position, results of operations or cash flows. |
Note_19_Derivative_Financial_I
Note 19 - Derivative Financial Instruments and Hedging Activities | 12 Months Ended | |
Dec. 31, 2014 | ||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 19 | Derivative Financial Instruments and Hedging Activities |
At December 31, 2014 and 2013, the Company’s only derivative instruments related to residential mortgage-banking activities. | ||
At December 31, 2014, the notional amount of commitments to originate conforming mortgage loans held for sale totaled $2.4 million. These derivative loan commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $85 thousand. At December 31, 2013, the notional amount of commitments to originate conforming mortgage loans held for sale totaled $7.3 million and were considered derivative financial instruments. These derivative loan commitments had positive fair values, included in Other assets in the Consolidated Balance Sheet, totaling $176 thousand and negative fair values, included in Other liabilities in the Consolidated Balance Sheet, totaling $3 thousand. The net change in derivative loan commitment fair values during the years ended December 31, 2014, 2013 and 2012 resulted in expense of $88 thousand, $164 thousand and $28 thousand, respectively. | ||
The notional amount of forward sales commitments totaled $2.3 million at December 31, 2014. These forward sales commitments had negative fair values, included in Other liabilities in the Consolidated Balance Sheets, totaling $18 thousand. The notional amount of forward sales commitments totaled $6.8 million at December 31, 2013. These forward sales commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $28 thousand and negative fair values, included in Other liabilities in the Consolidated Balance Sheets, totaling $4 thousand. The net change in forward sales commitment fair values during the years ended December 31, 2014, 2013 and 2012 resulted in expense of $42 thousand, $4 thousand and $63 thousand, respectively. |
Note_20_Fair_Value_Measurement
Note 20 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Disclosures [Text Block] | 20 | Fair ValueMeasurements | |||||||||||||||
Valuation Methodologies | |||||||||||||||||
The valuation methodologies used for fair value measurement for certain of the Company’s assets and liabilities are disclosed in Note 1, Summary of Significant Accounting Policies. Following is a description of the valuation methodologies used for fair value measurements of assets and liabilities not included in Note 1. | |||||||||||||||||
Trading account assets. The fair values of trading account assets are primarily based on actively traded markets where prices are based on either direct market quotes or observed transactions. Liquidity is a significant factor in the determination of the fair values of trading account assets. Market prices may not be readily available for some positions or positions within a market sector where trading activity has slowed significantly or ceased. | |||||||||||||||||
Investment securities available for sale. The fair value of investment securities available for sale is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or NASDAQ, as well as securities that are traded by dealers or brokers in active over-the-counter markets. Instruments classified as Level 1 are instruments that have been priced directly from dealer trading desks and represent actual prices at which such securities have traded within active markets. Level 2 securities are valued based on pricing models that use relevant observable information generated by transactions that have occurred in the market place that involve similar securities. | |||||||||||||||||
Mortgage loans held for sale. The fair value of mortgage loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. As such, the Company classifies these loans subjected to nonrecurring fair value adjustments as Level 2. | |||||||||||||||||
Other loans held for sale. Other loans held for sale for which binding sales contracts have been entered into as of the balance sheet date are classified as Level 1 instruments. | |||||||||||||||||
Impaired loans. The fair value of an impaired loan is estimated using one of three methods: fair value of the underlying collateral, present value of expected cash flows and, in rare cases, the market value of the impaired loan itself. Impaired loans, where an allowance for loan losses or charge-off is recorded based on the fair value of collateral, require classification in the fair value hierarchy. When the fair value of the collateral is based on an executed sales contract with an independent third party, the Company classifies the impaired loan as nonrecurring Level 1. If the collateral is based on another observable market price or a current appraised value, the Company classifies the impaired loan as nonrecurring Level 2. When an appraised value is not available or the Company determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company classifies the impaired loan as nonrecurring Level 3. | |||||||||||||||||
Foreclosed real estate and repossessed personal property. Fair value of foreclosed real estate and repossessed property is generally based upon binding sales contracts, current appraisals, comparable sales and other estimates of value obtained principally from independent sources. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company classifies the asset as nonrecurring Level 2. However, the Company also considers other factors or recent developments which could result in adjustments to the collateral value estimates indicated in the appraisals such as changes in absorption rates or market conditions from the time of valuation. In situations where management adjustments are significant to the fair value measurement in its entirety, such measurements are classified as Level 3 within the valuation hierarchy. | |||||||||||||||||
Derivative financial instruments. Currently, the Company enters into residential mortgage loan commitments and forward sales commitments. The valuation of these instruments is computed using internal valuation models utilizing observable market-based inputs such as current mortgage rates and forward loan sale “pair-off” prices. As such, derivative financial instruments subjected to recurring fair value adjustments are classified as Level 2. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following tables summarize assets and liabilities measured at fair value on a recurring basis at the dates indicated aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands). | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Trading account assets | $ | 1,397 | $ | 4,116 | $ | - | $ | 5,513 | |||||||||
Investment securities available for sale | |||||||||||||||||
U.S. agency | - | 3,965 | - | 3,965 | |||||||||||||
State and municipal | 572 | 6,160 | - | 6,732 | |||||||||||||
Collateralized mortgage obligations (federal agencies) | - | 87,774 | - | 87,774 | |||||||||||||
Other mortgage-backed (federal agencies) | - | 78,503 | - | 78,503 | |||||||||||||
SBA loan-backed (federal agency) | 19,675 | 14,862 | - | 34,537 | |||||||||||||
Derivative financial instruments | - | 85 | - | 85 | |||||||||||||
Total assets measured at fair value on a recurring basis | $ | 21,644 | $ | 195,465 | $ | - | $ | 217,109 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments | $ | - | $ | 18 | $ | - | $ | 18 | |||||||||
31-Dec-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Trading account assets | $ | 1,347 | $ | 3,771 | $ | - | $ | 5,118 | |||||||||
Investment securities available for sale | |||||||||||||||||
State and municipal | - | 7,460 | - | 7,460 | |||||||||||||
Collateralized mortgage obligations (federal agencies) | - | 93,132 | - | 93,132 | |||||||||||||
Other mortgage-backed (federal agencies) | 1,188 | 74,832 | - | 76,020 | |||||||||||||
SBA loan-backed (federal agency) | 20,457 | 17,314 | - | 37,771 | |||||||||||||
Derivative financial instruments | - | 204 | - | 204 | |||||||||||||
Total assets measured at fair value on a recurring basis | $ | 22,992 | $ | 196,713 | $ | - | $ | 219,705 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments | $ | - | $ | 7 | $ | - | $ | 7 | |||||||||
For disclosure regarding the fair value of Pension Plan assets, see Note 15, Benefit Plans. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
For financial assets measured at fair value on a nonrecurring basis that are recorded in the Consolidated Balance Sheets, the following tables summarize the level of valuation assumptions used to determine fair value of the related individual assets at the dates indicated (in thousands). There were no liabilities measured at fair value on a nonrecurring basis at December 31, 2014 or 2013. | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Mortgage loans held for sale | $ | - | $ | 1,125 | $ | - | $ | 1,125 | |||||||||
Impaired loans | - | 5,709 | - | 5,709 | |||||||||||||
Foreclosed real estate | 82 | - | 4,717 | 4,799 | |||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 82 | $ | 6,834 | $ | 4,717 | $ | 11,633 | |||||||||
31-Dec-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Mortgage loans held for sale | $ | - | $ | 1,722 | $ | - | $ | 1,722 | |||||||||
Impaired loans | - | 5,588 | 25 | 5,613 | |||||||||||||
Foreclosed real estate | 34 | 31 | 6,595 | 6,660 | |||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 34 | $ | 7,341 | $ | 6,620 | $ | 13,995 | |||||||||
Level 3 Valuation Methodologies. The following table summarizes the significant unobservable inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis at December 31, 2014 (in thousands). | |||||||||||||||||
Fair value | Valuation | Significant | |||||||||||||||
technique | unobservable | ||||||||||||||||
inputs | |||||||||||||||||
Assets | |||||||||||||||||
Foreclosed real estate | $ | 4,717 | Appraisals of | Adjustments to appraisal for age of comparable sales | |||||||||||||
collateral value | |||||||||||||||||
Carrying Amounts and Estimated Fair Value of Financial Assets and Liabilities Not Measured at Fair Value | |||||||||||||||||
For assets and liabilities that are not measured on the Consolidated Balance Sheets at fair value, the Company uses several different valuation methodologies as outlined below. | |||||||||||||||||
For financial instruments that have quoted market prices, those quotes are used to determine fair value. Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate, are assumed to have a fair value that approximates reported book value. If no market quotes are available, financial instruments are valued by discounting the expected cash flows using an estimated current market interest rate for the financial instrument. | |||||||||||||||||
Certain of the Company’s assets and liabilities are financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following Consolidated Balance Sheet captions: cash and cash equivalents, retail repurchase agreements, FHLB advances and other borrowings. | |||||||||||||||||
Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect the premium or discount on any particular financial instrument that could result from the sale of the Company’s entire holdings. Because no ready market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly impact the estimates. | |||||||||||||||||
Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not financial instruments. Significant assets and liabilities that are not financial instruments include those resulting from the Company’s mortgage-banking operations, the value of the long-term relationships with the Company’s deposit clients, deferred income taxes, and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant impact on fair value estimates and have not been considered in the estimates. | |||||||||||||||||
Commitments to extend credit are primarily short-term and are generally at variable market interest rates. Commitments to extend credit may be terminated by the Company based on material adverse change clauses. Standby letters of credit are generally short-term and have no associated rate unless funding occurs. As such, commitments to extend credit and standby letters of credit are deemed to have no material fair value. | |||||||||||||||||
The following table summarizes the carrying amount and fair value of other financial instruments included in the Consolidated Balance Sheets at the dates indicated (in thousands) all of which are considered Level 3 fair value estimates. These fair value estimates are subject to fluctuation based on the amount and timing of expected cash flows as well as the choice of discount rate used in the present value calculation. The Company used management's best estimate of fair value. Thus, the fair values presented may not be the amounts that could be realized in an immediate sale or settlement of the instrument. In addition, any income taxes or other expenses that would be incurred in an actual sale or settlement are not taken into consideration in the fair values presented. | |||||||||||||||||
Carrying | Fair | ||||||||||||||||
amount | value | ||||||||||||||||
31-Dec-14 | |||||||||||||||||
Financial instruments - assets | |||||||||||||||||
Loans (1) | $ | 788,228 | $ | 788,334 | |||||||||||||
Financial instruments - liabilities | |||||||||||||||||
Deposits | 928,320 | 885,100 | |||||||||||||||
31-Dec-13 | |||||||||||||||||
Financial instruments - assets | |||||||||||||||||
Loans (1) | $ | 748,243 | $ | 748,330 | |||||||||||||
Financial instruments - liabilities | |||||||||||||||||
Deposits | 907,360 | 896,858 | |||||||||||||||
(1) Includes gross loans less impaired loans for which fair value exceeds carrying value and allowance for loan losses relative to loans collectively evaluated for impairment |
Note_21_Regulatory_Capital_Req
Note 21 - Regulatory Capital Requirements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | 21 | Regulatory Capital Requirements | |||||||||||||||||||||||
The following table summarizes the Company’s and the Bank’s actual and required capital ratios at the dates indicated (dollars in thousands). The Bank was classified in the well-capitalized category at both December 31, 2014 and 2013. Since December 31, 2014, no conditions or events have occurred, of which the Company is aware, that have resulted in a material change in the Bank's regulatory risk category other than as reported in this Annual Report on Form 10-K. | |||||||||||||||||||||||||
Actual | For capital adequacy | To be well capitalized under | |||||||||||||||||||||||
purposes | prompt corrective action | ||||||||||||||||||||||||
provisions | |||||||||||||||||||||||||
amount | ratio | amount | ratio | amount | ratio | ||||||||||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Company | $ | 143,519 | 16.26 | % | $ | 70,625 | 8 | % | n/a | n/a | |||||||||||||||
Bank | 143,363 | 16.24 | 70,622 | 8 | $ | 88,278 | 10 | % | |||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Company | 132,455 | 15 | 35,312 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 132,299 | 14.99 | 35,311 | 4 | 52,967 | 6 | |||||||||||||||||||
Tier 1 leverage ratio | |||||||||||||||||||||||||
Company | 132,455 | 12.15 | 43,613 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 132,299 | 12.13 | 43,611 | 4 | 54,514 | 5 | |||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Company | $ | 130,043 | 15.49 | % | $ | 67,142 | 8 | % | n/a | n/a | |||||||||||||||
Bank | 129,956 | 15.48 | 67,142 | 8 | $ | 83,928 | 10 | % | |||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Company | 119,475 | 14.24 | 33,571 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 119,388 | 14.23 | 33,571 | 4 | 50,357 | 6 | |||||||||||||||||||
Tier 1 leverage ratio | |||||||||||||||||||||||||
Company | 119,475 | 11.03 | 43,309 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 119,388 | 11.03 | 43,311 | 4 | 54,138 | 5 | |||||||||||||||||||
Note_22_Holding_Company_Conden
Note 22 - Holding Company Condensed Financial Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 22 | Holding Company Condensed Financial Information | |||||||||||
Since the Company is a holding company and does not conduct operations, its primary sources of liquidity are equity issuances, dividends received from the Bank and funds received through stock option exercises. | |||||||||||||
The following tables summarize the holding company’s financial condition, results of operations and cash flows at the dates and for the periods indicated (in thousands). | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 127 | $ | 87 | |||||||||
Deferred tax asset, net | 150 | 364 | |||||||||||
Investment in subsidiary | 132,738 | 123,366 | |||||||||||
Other assets | 29 | - | |||||||||||
Total assets | $ | 133,044 | $ | 123,817 | |||||||||
Liabilities and shareholders' equity | |||||||||||||
Shareholders' equity | $ | 133,044 | $ | 123,817 | |||||||||
Total liabilities and shareholders' equity | $ | 133,044 | $ | 123,817 | |||||||||
Condensed Statements of Income (Loss) | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Equity in undistributed income (loss) of subsidiary | $ | 9,848 | $ | 27,509 | $ | (1,738 | ) | ||||||
Other operating expense | 279 | 142 | 126 | ||||||||||
Net income (loss) before provision (benefit) for income taxes | 9,569 | 27,367 | (1,864 | ) | |||||||||
Provision (benefit) for income taxes | 214 | (364 | ) | - | |||||||||
Net income (loss) | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Condensed Statements of Cash Flows | |||||||||||||
For the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Operating Activities | |||||||||||||
Net income (loss) | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities | |||||||||||||
Increase in equity in undistributed (income) loss of subsidiary | (8,208 | ) | (27,509 | ) | 1,738 | ||||||||
Deferred income tax expense (benefit) | 214 | (364 | ) | - | |||||||||
Increase in other assets | (29 | ) | - | - | |||||||||
Decrease in other liabilities | - | (23 | ) | (55 | ) | ||||||||
Net cash provided by (used for) operating activities | 1,332 | (165 | ) | (181 | ) | ||||||||
Investing Activities | |||||||||||||
Capital contribution in subsidiary | - | - | (650 | ) | |||||||||
Net cash used for investing activities | - | - | (650 | ) | |||||||||
Financing Activities | |||||||||||||
Dividends paid on common stock | (1,279 | ) | - | - | |||||||||
Taxes paid related to net share settlement of equity awards | (13 | ) | |||||||||||
Proceeds from exercise of stock options | - | 124 | - | ||||||||||
Net cash provided by (used for) financing activities | (1,292 | ) | 124 | - | |||||||||
Net change in cash and due from banks | 40 | (41 | ) | (831 | ) | ||||||||
Cash and due from banks, beginning of period | 87 | 128 | 959 | ||||||||||
Cash and due from banks, end of period | $ | 127 | $ | 87 | $ | 128 | |||||||
Note_23_Related_Party_Transact
Note 23 - Related Party Transactions | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions Disclosure [Text Block] | 23 | Related Party Transactions | |||||||
Intercompany Transactions | |||||||||
Intercompany transactions include activities between the Company and the Bank. Prior to June 2013, the Pension Plan assets were administered by the Bank’s Trust department and were managed by professional investment firms as well as by investment professionals that were teammates of the Bank. Administration and management of the Pension Plan assets were transferred to a third party in June 2013. | |||||||||
Related Party Transactions | |||||||||
Certain Directors, Executive Officers, and their related interests are loan clients of the Bank. All such loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions. The following table summarizes activity of all such loans at the dates and for the periods indicated (in thousands). | |||||||||
At and for the years ended December 31, | |||||||||
2014 | 2013 | ||||||||
Related party loans, beginning of period | $ | 1,758 | $ | 1,772 | |||||
Additions: | |||||||||
Loan originations | 30 | - | |||||||
Total additions | 30 | - | |||||||
Reductions: | |||||||||
Paydowns and payoffs | 66 | 14 | |||||||
Total reductions | 66 | 14 | |||||||
Related party loans, end of period | $ | 1,722 | $ | 1,758 | |||||
All such loans outstanding at December 31, 2014 were performing based on contractual terms. |
Note_24_Quarterly_Financial_Da
Note 24 - Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||
Quarterly Financial Information [Text Block] | 24 | Quarterly Financial Data (Unaudited) | |||||||||||||||||||
The following tables summarize selected quarterly financial data for the periods indicated (in thousands, except per share data). | |||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | Total | |||||||||||||||||
Interest income | $ | 10,076 | $ | 9,920 | $ | 9,871 | $ | 9,783 | $ | 39,650 | |||||||||||
Interest expense | 143 | 131 | 126 | 123 | 523 | ||||||||||||||||
Net interest income | 9,933 | 9,789 | 9,745 | 9,660 | 39,127 | ||||||||||||||||
Provision for loan losses | - | - | (500 | ) | (1,800 | ) | (2,300 | ) | |||||||||||||
Net interest income after provision for loan losses | 9,933 | 9,789 | 10,245 | 11,460 | 41,427 | ||||||||||||||||
Investment securities gains, net | 85 | - | - | 40 | 125 | ||||||||||||||||
Other noninterest income | 3,281 | 3,490 | 3,408 | 3,234 | 13,413 | ||||||||||||||||
Noninterest expense | 10,089 | 10,084 | 10,482 | 9,486 | 40,141 | ||||||||||||||||
Net income before provision for income taxes | 3,210 | 3,195 | 3,171 | 5,248 | 14,824 | ||||||||||||||||
Provision for income taxes | 1,182 | 1,168 | 1,189 | 1,930 | 5,469 | ||||||||||||||||
Net income | $ | 2,028 | $ | 2,027 | $ | 1,982 | $ | 3,318 | $ | 9,355 | |||||||||||
Common and per share data | |||||||||||||||||||||
Net income - basic | $ | 0.16 | $ | 0.16 | $ | 0.15 | $ | 0.26 | $ | 0.73 | |||||||||||
Net income - diluted | 0.16 | 0.16 | 0.15 | 0.26 | 0.73 | ||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | Total | |||||||||||||||||
Interest income | $ | 10,864 | $ | 10,728 | $ | 10,523 | $ | 10,423 | $ | 42,538 | |||||||||||
Interest expense | 895 | 503 | 475 | 387 | 2,260 | ||||||||||||||||
Net interest income | 9,969 | 10,225 | 10,048 | 10,036 | 40,278 | ||||||||||||||||
Provision for loan losses | 350 | 670 | 645 | 1,800 | 3,465 | ||||||||||||||||
Net interest income after provision for loan losses | 9,619 | 9,555 | 9,403 | 8,236 | 36,813 | ||||||||||||||||
Investment securities gains (losses), net | - | 331 | (44 | ) | 23 | 310 | |||||||||||||||
Other noninterest income | 3,745 | 3,906 | 3,323 | 3,552 | 14,526 | ||||||||||||||||
Noninterest expense | 10,375 | 11,911 | 9,835 | 10,212 | 42,333 | ||||||||||||||||
Net income before provision (benefit) for income taxes | 2,989 | 1,881 | 2,847 | 1,599 | 9,316 | ||||||||||||||||
Provision (benefit) for income taxes | 813 | 382 | (19,386 | ) | (224 | ) | (18,415 | ) | |||||||||||||
Net income | $ | 2,176 | $ | 1,499 | $ | 22,233 | $ | 1,823 | $ | 27,731 | |||||||||||
Common and per share data | |||||||||||||||||||||
Net income - basic | $ | 0.17 | $ | 0.12 | $ | 1.74 | $ | 0.14 | $ | 2.17 | |||||||||||
Net income - diluted | 0.17 | 0.12 | 1.74 | 0.14 | 2.17 | ||||||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Accounting Policies [Abstract] | |||
Nature of Operation1 [Policy Text Block] | Nature of Operations | ||
Palmetto Bancshares, Inc. (the “Company’) is a South Carolina bank holding company organized in 1982 and headquartered in Greenville, South Carolina. The Company serves as the bank holding company for The Palmetto Bank (the “Bank”), which began operations in 1906. The Bank, also headquartered in Greenville, South Carolina, is the second largest banking institution headquartered in South Carolina. The Bank serves the Upstate of South Carolina through 25 branch locations in nine counties along the economically attractive I-85 corridor, as well as 24/7/365 service through online and mobile banking and automatic teller machines. Through its Retail, Commercial and Wealth Management lines of business, the Bank specializes in providing financial solutions to consumers and small to mid-size businesses with deposit and cash management products, loans (including consumer, mortgage, credit card, automobile, Small Business Administration (“SBA”), commercial and corporate), lines of credit, trust, brokerage, private banking, financial planning and insurance. | |||
Consolidation, Policy [Policy Text Block] | Principles of Consolidation / Basis of Presentation | ||
The accompanying Consolidated Financial Statements include the accounts of the Company, the Bank and subsidiaries of the Bank (collectively referred to herein as the “Company,” “we,” “us” or “our”). In management’s opinion, all significant intercompany accounts and transactions have been eliminated in consolidation, and all adjustments necessary for a fair presentation of the financial condition and results of operations for the periods presented have been included. Any such adjustments are of a normal and recurring nature. Assets held by the Company in a fiduciary or agency capacity for clients are not included in the Company’s Consolidated Financial Statements because those items do not represent assets of the Company. The accounting and financial reporting policies of the Company conform, in all material respects, to accounting principles generally accepted in the United States of America (“GAAP”) and to general practices within the financial services industry. | |||
Subsequent Events, Policy [Policy Text Block] | Subsequent Events | ||
Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet including the estimates inherent in the process of preparing financial statements. Unrecognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. The Company has reviewed events occurring through the issuance date of the Consolidated Financial Statements and no subsequent events have occurred requiring accrual or disclosure in these financial statements other than those included in this Annual Report on Form 10-K. | |||
Segment Reporting, Policy [Policy Text Block] | Business Segments | ||
Operating segments are components of an enterprise about which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and assess performance. Public enterprises are required to report a measure of segment profit or loss, certain specific revenue and expense items for each segment, segment assets and information about the way that the operating segments were determined, among other items. | |||
The Company considers business segments by analyzing distinguishable components that are engaged in providing individual products, services or groups of related products or services and that are subject to risks and returns that are different from those of other business segments. When determining whether products and services are related, the Company considers the nature of the products or services, the nature of the production processes, the type or class of client for which the products or services are designed and the methods used to distribute the products or provide the services. | |||
For the past several years, we have been realigning our organizational structure and more specifically delineating our businesses for improved accountability and go-to-market strategies. However, financial information for these businesses has been separated to a limited extent, and, therefore, we do not have disaggregated financial information that meets the criteria to be considered reportable segments. Accordingly, at December 31, 2014, the Company had one reportable business segment, which was banking. | |||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates | ||
In preparing the Consolidated Financial Statements, the Company’s management makes estimates and assumptions that impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates and for the periods indicated in the Consolidated Financial Statements. Actual results could differ from these estimates and assumptions. Therefore, the results of operations for the year ended December 31, 2014 are not necessarily indicative of the results of operations that may be expected in future periods. | |||
Risk and Uncertainties [Policy Text Block] | Risk and Uncertainties | ||
In the normal course of business, the Company encounters two significant types of overall risk: economic and regulatory. There are three main components of economic risk: credit risk, market risk and concentration of credit risk. Credit risk is the risk of default on the Company's loan portfolio resulting from borrowers' inability or unwillingness to make contractually required interest and principal payments, default on repayment of investment securities and trading account assets, and the risk of other counterparties such as insurance providers failing to make contractually required payments to the Company. Market risk primarily includes interest-rate risk. The Company is exposed to interest-rate risk to the degree that its interest-bearing liabilities mature or reprice at different speeds, or different bases, than its interest-earning assets. Market risk also reflects the risk of declines in the valuation of investment securities, trading account assets, loans held for sale, the value of the collateral underlying loans and the value of real estate held by the Company. Concentration of credit risk refers to the risk that, if the Company extends a significant portion of its total outstanding credit to borrowers in a specific geographical area or industry or on the security of a specific form of collateral, the Company may experience disproportionately high levels of defaults and losses if those borrowers, or the value of such type of collateral, are adversely impacted by economic or other factors that are particularly applicable to such borrowers or collateral. Concentration of credit risk is also similarly applicable to the investment securities portfolio, trading account assets and bank-owned life insurance (“BOLI”) policies. | |||
The Company and the Bank are subject to the regulations of various government agencies. These regulations can and do change significantly from period to period. In addition, the Company and the Bank undergo periodic examinations by bank regulatory agencies which may subject us to changes with respect to asset and liability valuations, amount of required allowance for loan losses, capital levels or operating restrictions. | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents | ||
Cash and cash equivalents may include cash, interest-bearing bank balances and federal funds sold. Generally, both cash and cash equivalents have maturities of three months or less, and accordingly, the carrying amount of these instruments is deemed to be a reasonable estimate of fair value. | |||
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock | ||
The Bank is a member of the Federal Home Loan Bank of Atlanta (the “FHLB”), which is one of the regional FHLBs that administer home financing credit for depository institutions. Each FHLB serves as a reserve or central bank for its members within its assigned region. It is funded primarily from proceeds derived from the sale of consolidated obligations of the FHLB System. It makes loans or advances to members in accordance with policies and procedures established by the Board of Directors of the FHLB, which are subject to the oversight of the Federal Housing Financing Board. All advances from the FHLB are required to be fully secured by collateral as determined by the FHLB. | |||
As an FHLB member, the Company is required to purchase and maintain stock in the FHLB. No ready market exists for this stock, and it has no quoted market value. The stock is recorded at historical cost and redemptions are conducted at book value. Purchases and redemptions are normally transacted each quarter to adjust the Company’s investment to an amount based on the FHLB requirements, and requests for redemptions are met at the discretion of the FHLB. The Company has experienced no interruption in such redemptions. Dividends are paid on this stock at the discretion of the FHLB. | |||
Marketable Securities, Trading Securities, Policy [Policy Text Block] | Trading Account Assets | ||
The Company invests in an account that is managed by a third party and invests in municipal bond securities that are actively traded. Trading account assets are reported at estimated fair value as Trading account assets on the Consolidated Balance Sheet. Interest income on trading account assets is reported as interest income in the Consolidated Statement of Income (Loss). Unrealized gains and losses and realized gains and losses on the sales of trading account assets are included in Other noninterest income in the Consolidated Statement of Income (Loss). Account management fees and related expenses are included in Professional services expense. | |||
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Investment Securities Available for Sale | ||
The Company’s investment securities are classified into three categories: held-to-maturity, trading and available for sale. Held-to-maturity investment securities include debt securities that the Company has the intent and ability to hold until maturity and are reported at amortized cost. Available for sale investment securities include debt and equity investment securities that the Company determines may be sold at a future date or that it does not have the intent or ability to hold to maturity. Available for sale investment securities are reported at fair value with unrealized gains and losses excluded from income and reported as a separate component of shareholders' equity, net of deferred income taxes. Any other-than-temporary impairment related to credit losses would be recognized through earnings while any other-than-temporary impairment related to other factors would be recognized in other comprehensive income (loss). Realized gains or losses on available for sale investment securities are computed on a specific identification basis. | |||
An other-than-temporary impairment analysis is conducted on a quarterly basis or more often if a potential loss-triggering event occurs. Investment securities are considered to be impaired on an other-than-temporary basis if it is probable that the issuer will be unable to make its contractual payments or if the Company no longer believes the security will recover within the estimated recovery period. Other-than-temporary impairment is recognized by evaluating separately other-than-temporary impairment losses due to credit issues and losses related to all other factors. Other-than-temporary impairment exists when it is more likely than not that the security will mature or be sold before its amortized cost basis can be recovered. For debt securities, the Company also considers the cause of the price decline such as the general level of interest rates and industry and issuer-specific factors, the issuer’s financial condition, near-term prospects and current ability to make future payments in a timely manner, the issuer’s ability to service debt, any change in agency ratings at evaluation date from acquisition date and any likely imminent action, and for asset-backed securities, the credit performance of the underlying collateral including delinquency rates, cumulative losses to date and the remaining credit enhancement compared to expected credit losses. Additionally, in determining if there is evidence of credit deterioration, the Company evaluates the severity of decline in market value below cost, the period of time for which the decline in fair value has existed and the financial condition and near-term prospects of the issuer including any specific events which may influence the operations of the issuer. | |||
Unamortized premiums and discounts are recognized in interest income over the contractual life of the security using the effective interest method. As principal repayments are received on securities a pro-rata portion of the unamortized premium or discount is recognized in interest income. Accretion of unamortized discounts is discontinued for investment securities that fall below investment grade. | |||
Mortgage Loans Held for Sale [Policy Text Block] | Mortgage and Other Loans Held for Sale | ||
Mortgage and other loans originated with the intent to sell, or for which a decision to sell is made subsequent to origination, are reported at the lower of cost or estimated fair value. Net unrealized losses, if necessary, are provided for through a valuation allowance charged to income. Gain or loss on sale of mortgage and other loans held for sale are recognized at the time of sale and are based on proceeds received, the value of any servicing rights recognized, the carrying amount of the loans at the time of sale and any interests the Company continues to hold based on relative fair value at the date of sale. | |||
Policy Loans Receivable, Policy [Policy Text Block] | Loans | ||
Loans are reported at their outstanding principal balances net of any unearned income, charge-offs and unamortized deferred fees and direct loan origination costs. Purchased loans are reported at their outstanding principal balance plus any unamortized purchase premiums. Unearned income, deferred fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan. | |||
Past due and delinquent status is based on contractual terms. Interest income on loans deemed past due continues to accrue until the loan is placed in nonaccrual status. | |||
The accrual of interest income is discontinued when it is determined there is a more than normal risk of future uncollectibility. In most cases, loans are automatically placed in nonaccrual status when the loan payment becomes 90 days delinquent and no acceptable arrangement has been made between the Company and the client. The accrual of interest on some loans, however, may continue even after the loan becomes 90 days delinquent in special circumstances deemed appropriate by the Company. Loans may be placed in nonaccrual status if it is determined that some factor other than delinquency (such as imminent foreclosure or bankruptcy proceedings) causes the Company to believe that more than a normal amount of risk exists with regard to collectability. When a loan is placed in nonaccrual status, accrued interest income receivable is reversed. Thereafter, any cash payments received on a nonaccrual loan are applied as a principal reduction until the entire amortized cost of the loan has been recovered. Any additional amounts received are reflected in interest income. Loans are returned to accrual status when the loan is brought current and ultimate collectability of principal and interest is no longer in doubt. | |||
In situations where, for economic or legal reasons related to a client’s financial difficulties, a concession is granted to the client that the Company would not otherwise consider, the related loan is classified as a troubled debt restructuring. The restructuring of a loan may include the transfer, from the client to the Company, of real estate, receivables from third parties, other assets or an equity interest in the client in full or partial satisfaction of the loan, a modification of the loan terms or a combination of the above. The accrual of interest continues on a troubled debt restructuring as long as the loan is performing in accordance with the restructured terms. If the restructured loan is not performing in accordance with the restructured terms, the loan will be placed on nonaccrual status and will retain its status as a troubled debt restructuring. Loans classified as troubled debt restructurings may be removed from this classification if they are subsequently restructured if, at the time of the subsequent restructuring, the borrower is not experiencing financial difficulties and under terms of the subsequent agreement no concession has been granted to the borrower. To meet these conditions, the subsequent modification agreement must specify market terms, including a contractual interest rate not less than a market interest rate for new debt with similar credit risk characteristics, and other terms no less favorable to the Company than those it would offer for such new debt. In addition, loans may also be removed from troubled debt restructuring classification for disclosure purposes after a specified period of time if the restructured agreement specifies an interest rate equal to or greater than the rate that the lender was willing to accept at the time of the restructuring for a new loan with comparable risk, and the loan is performing in accordance with the terms specified by the restructured agreement. | |||
Nonrefundable fees and certain direct costs associated with the origination of loans are deferred and recognized as a yield adjustment over the contractual life of the related loan, or if the related loan is held for sale, until the loan is sold. Premiums paid for purchased loans are recognized as a yield adjustment over the contractual or estimated life of the related loan pools depending on the size and homogeneity of the pool. Recognition of deferred fees and costs and purchase premiums is discontinued on nonaccrual loans until they return to accrual status or are charged-off. Deferral of direct loan origination costs are reported as a reduction of Salaries and other personnel expense. | |||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses | ||
The allowance for loan losses represents an amount that the Company believes will be adequate to absorb probable losses inherent in the loan portfolio as of the balance sheet date. Assessing the adequacy of the allowance for loan losses is a process that requires considerable judgment. Judgment in determining the adequacy of the allowance is based on evaluations of the collectability of loans including consideration of factors such as the balance of impaired loans, the quality, mix, and size of the overall loan portfolio, economic conditions that may impact the overall loan portfolio or an individual borrower’s ability to repay, the amount and quality of collateral securing the loans, the Company’s historical loan loss experience and borrower and collateral specific considerations for loans individually evaluated for impairment. | |||
The allowance for loan losses is a reserve established through a provision for loan losses charged to expense. The allowance for loan losses represents the Company’s best estimate of probable inherent losses that have been incurred within the existing loan portfolio and is necessary to reserve for estimated probable loan losses inherent in the loan portfolio. The Company’s allowance for loan losses methodology is based on historical loss experience by loan type, specific homogeneous risk pools and specific loss allocations. The process for determining the appropriate level of the allowance for loan losses is designed to account for asset deterioration as it occurs. The provision for loan losses reflects loan quality trends including the levels of and trends related to nonaccrual loans, potential problem loans, criticized loans, collateral values and loans charged-off or recovered, among other factors. | |||
The level of the allowance for loan losses reflects the Company’s continuing evaluation of specific lending risks, loan loss experience, current loan portfolio quality, present economic, political, and regulatory conditions and unidentified losses inherent in the current loan portfolio. Portions of the allowance for loan losses may be allocated for specific loans. However, the entire allowance for loan losses is available for any loan that, in the Company’s judgment, should be charged-off. The determination of the appropriate level of the allowance for loan losses inherently involves a high degree of subjectivity and requires significant estimates of current credit risks and future trends, all of which may undergo material changes. While the Company utilizes its best judgment and information available, the ultimate adequacy of the allowance for loan losses is dependent upon a variety of factors beyond the Company’s control including the performance of the loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications and collateral valuation. | |||
The starting point for the general component of the allowance is the historical loss experience of specific types of loans. Historical loss ratios are calculated for pools of similar loans with similar characteristics based on the proportion of actual loan net charge-offs to the total population of loans in the pool. A five-year look-back period is used to compute historical loss rates. However, given the increase in loan charge-offs beginning in 2009, since then a three-year look-back period has also been used for computing historical loss rates as an additional reference point in determining the allowance for loan losses. | |||
These historical loss percentages are increased or decreased for qualitative environmental factors derived from macroeconomic indicators and other factors. Qualitative factors considered in the determination of the allowance for loan losses include pervasive factors that generally impact clients across the loan portfolio (such as unemployment and the consumer price index) and factors that have specific implications to particular loan portfolios (such as residential home sales or commercial development). Factors evaluated may include, without limitation, changes in delinquent, nonaccrual and troubled debt restructured loan trends, trends in risk ratings and net loans charged-off, concentrations of credit, competition, legal and regulatory requirements, trends in the nature and volume of the loan portfolio, national and local economic and business conditions, collateral valuations, the experience and depth of lending management, lending policies and procedures, underwriting standards and practices, the quality of loan review systems and the degree of oversight by the Board of Directors, peer comparisons and other external factors. | |||
Allowances for loan losses on specific loans are recorded when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan. Specific allowances for loans considered individually significant and that exhibit probable or observed weaknesses are determined by analyzing, among other things, the borrower’s ability to repay amounts owed, guarantor support, collateral deficiencies, the relative risk rating of the loan and economic conditions impacting the client’s industry. The population of loans evaluated for potential impairment includes all loans that are currently classified as troubled debt restructurings, certain loans that have previously been classified as troubled debt restructurings, all loans with Bank-funded interest reserves and significant individual loans in nonaccrual status. Loans classified as troubled debt restructuring that are performing in accordance with their restructured terms are evaluated for impairment based on discounted cash flows using the loan’s original contractual interest rate. Troubled debt restructuring loans that are no longer performing in accordance with their restructured terms, and for which ultimate collection is based on liquidation of the collateral, are evaluated for impairment based on the collateral value less estimated costs to sell. | |||
Each impaired loan is individually reviewed to determine whether the impairment should be recorded as a charge-off or a reserve based on an assessment of the status of the borrower and the underlying collateral. In general, for collateral-dependent loans, the impairment is recorded as a charge-off unless the fair value of the collateral was based on an internal valuation pending receipt of a third-party appraisal or other extenuating circumstances. Consumer loan accounts are generally charged-off based on predefined past due time periods. | |||
The general reserve portion of the allowance for loan losses determined using the historical loss rates and qualitative factors is then combined with the specific allowance on loans individually evaluated for impairment to determine the total allowance for loan losses. | |||
Reserve for Unfunded Commitments [Policy Text Block] | Reserve for Unfunded Commitments | ||
The Company estimates probable losses related to unfunded lending commitments. The same credit policies are used in making and monitoring lending commitments as are used for loan underwriting. Therefore, in general, the methodology to determine the reserve for unfunded commitments is inherently similar to that used to determine the general reserve component of the allowance for loan losses. However, commitments have fixed expiration dates, and most commitments to extend credit have adverse change clauses that allow the Company to cancel the commitments based on various factors including deterioration in the creditworthiness of the borrower. Accordingly, many of the loan commitments are expected to expire without being drawn upon and, therefore, the total commitment amounts do not necessarily represent potential credit exposure. The reserve for unfunded lending commitments is included in Other liabilities in the Consolidated Balance Sheets. Changes to the reserve for unfunded commitments are recorded through Other noninterest expense in the Consolidated Statements of Income (Loss). | |||
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment, net | ||
Land is reported at cost. Buildings and improvements, furniture and equipment and software are reported at cost less accumulated depreciation computed principally by the straight-line method based on the estimated useful lives of the related asset. Estimated lives range from 12 to 39 years for buildings and improvements and from five to 12 years for furniture and equipment. Estimated lives range from three to five years for computer software. Estimated lives of automobiles are typically five years. Leasehold improvements are generally depreciated over the lesser of the lease term or the estimated useful lives of the improvements. | |||
Maintenance and repairs of such premises and equipment are expensed as incurred. Improvements that extend the useful lives of the respective assets are capitalized. | |||
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Foreclosed Real Estate and Repossessed Personal Property | ||
Foreclosed real estate is initially recorded at fair value less estimated selling costs thereby establishing a new cost basis. Fair value of foreclosed real estate is subsequently reviewed regularly and writedowns are recorded when it is determined that the carrying value of the real estate exceeds the fair value less estimated selling costs. Subsequent increases in the fair value of foreclosed real estate are recognized through a reduction of the specific valuation allowance to the extent of previous writedowns. Writedowns resulting from the periodic re-evaluation of, costs related to holding, and gains and losses on the sale of foreclosed properties are charged against income. Costs to develop and improve foreclosed properties are capitalized. | |||
Repossessed personal property is included in Other assets in the Consolidated Balance Sheets. | |||
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Servicing Rights | ||
The Company recognizes residential mortgage-servicing rights assets and SBA loan servicing rights assets (collectively referred to as “servicing rights”) upon the sale of residential mortgage and SBA loans for which the Company retains the underlying servicing obligation. Servicing rights assets are initially measured at fair value and amortized to expense over the estimated life of the servicing obligation. | |||
The fair value of servicing rights is determined at the date of sale of the underlying loan using the present value of estimated future net servicing income using assumptions that market participants use in their valuation estimates. The Company presents its servicing rights assets at the lower of cost or fair value in Other assets in the Consolidated Balance Sheets. | |||
For servicing rights, we utilize the expertise of third-party specialists on a quarterly basis to determine, among other things, capitalization, impairment and amortization rates. Estimates of the amount and timing of prepayment rates, loan loss experience, costs to service loans and discount rates are evaluated by the third-party specialists, reviewed and approved by us and used to estimate the fair value of our servicing rights portfolio. Amortization of the servicing rights portfolio is based on the ratio of net servicing income received in the current period to total net servicing income projected to be realized from the servicing rights portfolio. Projected net servicing income is determined based on the estimated future balance of the underlying loan portfolio, which declines over time from prepayments and scheduled loan amortization. Expected prepayment rates are estimated based on current interest-rate levels, other economic conditions, market forecasts and relevant characteristics of the servicing rights portfolio such as loan types, interest-rate stratification and recent prepayment experience. | |||
Impairment valuations are based on projections using a discounted cash flow method that includes assumptions regarding prepayments, interest rates, servicing costs and other factors. Impairment is measured on a disaggregated basis for each stratum of the servicing rights, which is segregated based on predominate risk characteristics including interest rate and loan type. Subsequent increases in value are recognized to the extent of previously recorded impairment for each stratum. | |||
Bank Owned Life Insurance [Policy Text Block] | Bank-Owned Life Insurance | ||
The Company has purchased life insurance policies on certain key employees (which we refer to as “teammate”). All premiums were paid by the Company and the Company is the sole beneficiary; however, the Company provides a $50 thousand death benefit to the beneficiaries of covered teammates. These policies are recorded in the Consolidated Balance Sheets at their cash surrender value as provided by the insurance carriers. Income from these policies is recorded in other noninterest income. | |||
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Income (Loss) | ||
The Company reports changes in other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). Comprehensive income (loss) includes all changes in shareholders’ equity during a period except those resulting from transactions with shareholders. | |||
Changes in the market value of investment securities available for sale are recorded through accumulated other comprehensive income (loss). Additionally, accumulated other comprehensive income (loss) includes adjustments related to the defined benefit pension plan (the “Pension Plan”). These adjustments relate to the actuarial gains and losses and the amortization of prior service costs and credits and any remaining transition amounts that had not yet been recognized through net periodic benefit cost. | |||
Income Tax, Policy [Policy Text Block] | Income Taxes | ||
The Company files consolidated federal and state income tax returns. Federal income tax expense or benefit is allocated to the Bank on a separate return basis. The Company accounts for income taxes based on two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period and includes income tax expense related to uncertain tax positions, if any. Interest and penalties, if any, are recognized as a component of income tax expense. | |||
Deferred income taxes are determined using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax impacts of the differences between the book and tax bases of assets and liabilities and recognizes enacted changes in tax rates and laws in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized subject to the Company’s judgment that realization is more likely than not. A tax position that meets the more likely than not recognition threshold is measured to determine the amount of benefit to recognize. The tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. | |||
The Company reviews deferred tax assets for recoverability based on carryback ability, history of earnings, expectations for future earnings and the expected timing of reversals of temporary differences. Realization of a deferred tax asset ultimately depends on the existence of sufficient taxable income available under tax law including future reversals of existing temporary differences, future taxable income exclusive of reversing differences, taxable income in prior carryback years, projections of future operating results, cumulative tax losses over the past three years, tax loss deductibility limitations and available tax planning strategies. If, based on available information, it is more likely than not that the deferred income tax asset will not be realized, a valuation allowance against the deferred tax asset must be established with a corresponding charge to income tax expense. | |||
Earnings Per Share, Policy [Policy Text Block] | Net Income (Loss) per Common Share | ||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Net income (loss) available to common shareholders represents income (loss) applicable to common shareholders which is net income (loss) less income allocated to participating securities. For diluted net income (loss) per common share, the denominator is increased to include the number of additional common shares that would have been outstanding if dilutive potential common shares had been issued. If dilutive, common stock equivalents are calculated for stock options and restricted stock using the treasury stock method. Potential common shares are not included in the denominator of the diluted net income (loss) per common share computation when inclusion would be anti-dilutive. | |||
Participating securities are unvested share-based payment awards that contain nonforfeitable rights to dividends and are included in computing net income per common share using the two-class method. The two-class method is an earnings allocation formula under which net income per share is calculated for participating securities according to dividends declared and undistributed earnings. Under this method, all earnings, distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. For purposes of applying the two-class method, the Company’s unvested restricted stock awards are considered participating securities since those shares have a nonforfeitable right to any cash dividends declared and paid to common shareholders. For additional disclosure regarding the Company’s restricted stock awards, see Note 16, Equity-Based Compensation. | |||
Postemployment Benefit Plans, Policy [Policy Text Block] | Pension Plan | ||
The funded status of our Pension Plan is the difference between the plan assets and the projected benefit obligation at the balance sheet date. The underfunded status of our Pension Plan is recognized on the Consolidated Balance Sheets in Other liabilities. | |||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Equity-Based Compensation | ||
Compensation expense for restricted stock and stock option awards is measured at fair value and recognized as compensation expense in the Consolidated Statements of Income (Loss) over the service period for grants that have time / service-based vesting provisions. The fair value of restricted stock is determined based on the fair value of the common stock at the time of the grant. The fair value of stock options is estimated using an option-pricing model that takes into account fair value of the Company’s common stock, volatility measures, level of interest rates, term of the option and estimated prevesting forfeiture rates. | |||
Forfeitures are accounted for by eliminating compensation expense for unvested shares as forfeitures occur. Stock option and restricted stock awards are subject to vesting restrictions as to continuous employment for a specified time period following the date of grant. In addition, certain stock option and restricted stock awards are also subject to specified performance objectives. During these restriction periods, the holder of restricted stock awards is entitled to full voting rights and any dividends declared. | |||
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments and Hedging Activities | ||
All derivatives are recognized as either assets or liabilities in the Consolidated Balance Sheets and measured at fair value. Changes in the fair value of derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the Company elects and the derivative qualifies for hedge accounting. The Company did not apply hedge accounting to any of its derivative instruments for the years ended December 31, 2014, 2013 or 2012. As a result, all of the changes in fair value of derivatives are reported in current earnings. | |||
The Company’s only derivative instruments are related to its mortgage-banking activities. The Company generally originates certain residential mortgage loans with the intention of selling these loans. Between the time the Company enters into an interest-rate lock commitment to originate a residential mortgage loan held for sale and the time the loan is closed and sold, the Company is subject to variability in market prices related to these commitments. The Company also enters into forward sale agreements of “to-be-issued” loans. The commitments to originate residential mortgage loans and forward sales commitments are freestanding derivative instruments. Fair value adjustments on these derivative instruments are recorded within Mortgage-banking income in the Consolidated Statements of Income (Loss). Interest-rate lock commitments to originate residential mortgage loans to be held for investment are not considered derivatives. | |||
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements | ||
The Company provides disclosures about the fair value of assets and liabilities recognized in the Consolidated Balance Sheets in periods subsequent to initial recognition including whether the measurements are made on a recurring basis (for example, trading account assets and investment securities available for sale) or on a nonrecurring basis (for example, mortgage and other loans held for sale). | |||
Fair value is defined as the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a three-level hierarchy for disclosure of assets and liabilities recorded at fair value. The classification of assets and liabilities within the hierarchy is based on whether the inputs to the valuation methodology used for measurement are observable or unobservable. Observable inputs reflect market-derived or market-based information obtained from independent sources while unobservable inputs reflect our estimates of market data. The three-level hierarchy that is used to classify fair value measurements includes: | |||
● | Level 1 – Valuation is based on quoted prices for identical instruments traded in active markets. Level 1 instruments generally include securities traded on active exchange markets, such as the New York Stock Exchange or NASDAQ, as well as securities that are traded by dealers or brokers in active over-the-counter markets. Instruments the Company classifies as Level 1 are instruments that have been priced directly from dealer trading desks and represent actual prices at which such securities have traded within active markets. Level 1 instruments also include other loans held for sale and foreclosed real estate for which binding sales contracts have been entered into as of the balance sheet date. | ||
● | Level 2 – Valuation is based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques, such as matrix pricing, for which all significant assumptions are observable in the market. Instruments the Company classifies as Level 2 include securities that are valued based on pricing models that use relevant observable information generated by transactions that have occurred in the market place involving similar securities. Level 2 instruments also include mortgage loans held for sale that are valued based on prices for other mortgage whole loans with similar characteristics and other loans held for sale as well as impaired loans and foreclosed real estate valued by independent collateral appraisals based on recent sales of comparable properties. | ||
● | Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our estimate of assumptions market participants would use in pricing the asset or liability. Valuation techniques include use of option-pricing models, discounted cash flow models and similar techniques. | ||
The Company attempts to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, fair value measurement is based on models that use primarily market-based or independently-sourced market parameters. In certain cases when observable market inputs for model-based valuation techniques may not be readily available, the Company is required to make judgments about assumptions market participants would use in estimating the fair value of the financial instrument. | |||
The degree of management judgment involved in determining the fair value of an instrument is dependent upon the availability of quoted market prices or observable market parameters. For instruments that trade actively and have quoted market prices or observable market parameters, there is minimal subjectivity involved in measuring fair value. When observable market prices and parameters are not fully available, management judgment is necessary to estimate fair value. In addition, changes in market conditions may reduce the availability of quoted prices or observable data. For example, reduced liquidity in the capital markets or changes in secondary-market activities could result in observable market inputs becoming unavailable. When significant adjustments to available observable inputs are required, it may be appropriate to utilize an estimate based primarily on unobservable inputs. When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows and appropriate risk premiums is acceptable. | |||
Stockholders' Equity, Policy [Policy Text Block] | Valuation of the Company’s Common Stock | ||
The Company utilizes the market price of its common stock within various valuations and calculations relating to the Pension Plan assets, teammate retirement accounts, granting of equity awards, the calculation of diluted net income (loss) per common share and the valuation of stock serving as loan collateral. The Company uses the closing price of its common stock as reported on the NASDAQ Capital Market to obtain the value of its common stock as of each valuation date or award date. | |||
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Authoritative Pronouncements | ||
In May 2013, the Committee of Sponsoring Organizations (“COSO”) of the Treadway Commission issued its updated Internal Control–Integrated Framework and related illustrative documents (the "2013 Framework"). The updated framework was written to reflect the changes in business since the first version was released in 1992. The Company transitioned from the 1992 framework to the 2013 framework during the first quarter 2014. | |||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11 Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”) to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists thereby reducing diversity in practice. The amendments in ASU 2013-11 became effective for the Company on January 1, 2014 and did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
New Accounting Pronouncements Not Yet Adopted [Policy Text Block] | Recently Issued Authoritative Pronouncements | ||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure (“ASU 2014-04”) to clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The Company adopted the provisions of ASU 2014-04 effective January 1, 2015. The adoption of ASU 2014-04 did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers (“ASU 2014-09”). The scope of the guidance applies to revenue arising from contracts with customers, except for the following: lease contracts, insurance contracts, contractual rights and obligations within the scope of other guidance and nonmonetary exchanges between entities in the same line of business to facilitate sales to customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration that the entity receives or expects to receive. ASU 2014-09 is not expected to impact the timing or approach to revenue recognition for financial institutions. The likely impact for financial institutions will relate only to disclosures. The amendments are effective for public entities for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company does not expect the adoption of ASU 2014-09 to have a material impact on its financial position, results of operations or cash flows. | |||
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Topic 310): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (“ASU 2014-14”). The amendments in ASU 2014-14 require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: | |||
1 | The loan has a government guarantee that is not separable from the loan before foreclosure. | ||
2 | At the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim. | ||
3 | At the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. | ||
Upon foreclosure, the separate other receivable is to be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The Company adopted the provisions of ASU 2014-14 effective January 1, 2015. The adoption of ASU 2014-14 did not have a material impact on the Company’s financial position, results of operations or cash flows. | |||
In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Topic 205): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). The amendments in ASU 2014-15 are intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the organization’s ability to continue as a going concern within one year after the date that the financial statements are issued. The amendments are effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early application is permitted. The Company does not expect the adoption of ASU 2014-15 to have a material impact on its financial position, results of operations or cash flows. | |||
Other accounting standards that have been recently issued by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Note_3_Trading_Account_Assets_
Note 3 - Trading Account Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Note 3 - Trading Account Assets (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Trading Securities [Table Text Block] | December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 4,116 | $ | 3,771 | |||||||||||||||||||||||||||||||||
Insured bank deposits | 1,397 | 1,347 | |||||||||||||||||||||||||||||||||||
Total trading account assets | $ | 5,513 | $ | 5,118 | |||||||||||||||||||||||||||||||||
Gain (Loss) on Investments [Table Text Block] | For the years ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Realized gains, net | $ | 480 | $ | 139 | |||||||||||||||||||||||||||||||||
Unrealized gains, net due to changes in fair value relative to assets held at end of period | 21 | 31 | |||||||||||||||||||||||||||||||||||
Total trading account income, net | $ | 501 | $ | 170 | |||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||
Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||||||||||||||||
U.S. agency | $ | 3,930 | $ | 35 | $ | - | $ | 3,965 | |||||||||||||||||||||||||||||
State and municipal | 6,665 | 84 | (17 | ) | 6,732 | ||||||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 89,311 | 13 | (1,550 | ) | 87,774 | ||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 78,532 | 411 | (440 | ) | 78,503 | ||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 34,394 | 210 | (67 | ) | 34,537 | ||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 212,832 | $ | 753 | $ | (2,074 | ) | $ | 211,511 | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | ||||||||||||||||||||||||||||||||||
State and municipal | $ | 7,393 | $ | 138 | $ | (71 | ) | $ | 7,460 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 97,303 | 30 | (4,201 | ) | 93,132 | ||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 76,852 | 95 | (927 | ) | 76,020 | ||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 37,655 | 258 | (142 | ) | 37,771 | ||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 219,203 | $ | 521 | $ | (5,341 | ) | $ | 214,383 | ||||||||||||||||||||||||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | |||||||||||||||||||||||||||||
value | value | value | |||||||||||||||||||||||||||||||||||
State and municipal | 3 | $ | 1,641 | $ | 7 | 1 | $ | 1,062 | $ | 10 | 4 | $ | 2,703 | $ | 17 | ||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 11 | 32,532 | 192 | 10 | 52,924 | 1,358 | 21 | 85,456 | 1,550 | ||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 10 | 14,889 | 119 | 10 | 18,979 | 321 | 20 | 33,868 | 440 | ||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 3 | 3,122 | 10 | 6 | 14,850 | 57 | 9 | 17,972 | 67 | ||||||||||||||||||||||||||||
Total | 27 | $ | 52,184 | $ | 328 | 27 | $ | 87,815 | $ | 1,746 | 54 | $ | 139,999 | $ | 2,074 | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
# | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | # | Fair | Gross unrealized losses | |||||||||||||||||||||||||||||
value | value | value | |||||||||||||||||||||||||||||||||||
State and municipal | 1 | $ | 1,010 | $ | 71 | - | $ | - | $ | - | 1 | $ | 1,010 | $ | 71 | ||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 14 | 62,251 | 2,863 | 9 | 29,123 | 1,338 | 23 | 91,374 | 4,201 | ||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 20 | 64,428 | 774 | 1 | 1,517 | 153 | 21 | 65,945 | 927 | ||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 4 | 14,468 | 73 | 3 | 5,306 | 69 | 7 | 19,774 | 142 | ||||||||||||||||||||||||||||
Total | 39 | $ | 142,157 | $ | 3,781 | 13 | $ | 35,946 | $ | 1,560 | 52 | $ | 178,103 | $ | 5,341 | ||||||||||||||||||||||
Available-for-sale Securities, Credit Rating by Moody's [Table Text Block] | Moody's Ratings | ||||||||||||||||||||||||||||||||||||
Aaa | 7 | % | |||||||||||||||||||||||||||||||||||
Aa1 - Aa3 | 56 | ||||||||||||||||||||||||||||||||||||
A1 - A2 | 4 | ||||||||||||||||||||||||||||||||||||
Not rated | 33 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
Standard and | |||||||||||||||||||||||||||||||||||||
Poor's Ratings | |||||||||||||||||||||||||||||||||||||
AAA | 17 | % | |||||||||||||||||||||||||||||||||||
AA+ - AA- | 41 | ||||||||||||||||||||||||||||||||||||
Not Rated | 42 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized cost | Fair value | |||||||||||||||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||||||||||||||||||||||
Due after one year through five years | 2,015 | 2,017 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 1,915 | 1,948 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
U.S. agency | 3,930 | 3,965 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 1,898 | 1,917 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 2,050 | 2,115 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 2,717 | 2,700 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
State and municipal | 6,665 | 6,732 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 407 | 407 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 11,227 | 11,041 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 77,677 | 76,326 | |||||||||||||||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations (federal agencies) | 89,311 | 87,774 | |||||||||||||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 42,042 | 42,112 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 19,191 | 19,158 | |||||||||||||||||||||||||||||||||||
Due after ten years | 17,299 | 17,233 | |||||||||||||||||||||||||||||||||||
Other mortgage-backed (federal agencies) | 78,532 | 78,503 | |||||||||||||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 15,116 | 15,133 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 11,219 | 11,216 | |||||||||||||||||||||||||||||||||||
Due after ten years | 8,059 | 8,188 | |||||||||||||||||||||||||||||||||||
SBA loan-backed (federal agency) | 34,394 | 34,537 | |||||||||||||||||||||||||||||||||||
Due in one year or less | 2,305 | 2,324 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 72,450 | 72,418 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 112,719 | 111,348 | |||||||||||||||||||||||||||||||||||
Due after ten years | 25,358 | 25,421 | |||||||||||||||||||||||||||||||||||
Total investment securities available for sale | $ | 212,832 | $ | 211,511 | |||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Pledged as Collateral [Table Text Block] | December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Municipal and other secured deposits | $ | 84,255 | $ | 75,718 | |||||||||||||||||||||||||||||||||
Retail repurchase agreements | 36,629 | 25,626 | |||||||||||||||||||||||||||||||||||
Federal Reserve line of credit | 1,352 | 1,459 | |||||||||||||||||||||||||||||||||||
Correspondent bank lines of credit | 10,959 | 16,788 | |||||||||||||||||||||||||||||||||||
Total investment securities available for sale pledged | $ | 133,195 | $ | 119,591 | |||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) [Table Text Block] | For the years ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Realized gains | $ | 165 | $ | 471 | $ | 10,499 | |||||||||||||||||||||||||||||||
Realized losses | (40 | ) | (161 | ) | (5 | ) | |||||||||||||||||||||||||||||||
Total investment securities gains, net | $ | 125 | $ | 310 | $ | 10,494 | |||||||||||||||||||||||||||||||
Trading, Municipal Bonds [Member] | |||||||||||||||||||||||||||||||||||||
Note 3 - Trading Account Assets (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Moody's Ratings | ||||||||||||||||||||||||||||||||||||
Aaa | 21 | % | |||||||||||||||||||||||||||||||||||
Aa1 - Aa3 | 60 | ||||||||||||||||||||||||||||||||||||
A1 - A3 | 14 | ||||||||||||||||||||||||||||||||||||
Not rated | 5 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % | |||||||||||||||||||||||||||||||||||
Standard and | |||||||||||||||||||||||||||||||||||||
Poor's Ratings | |||||||||||||||||||||||||||||||||||||
AAA | 26 | % | |||||||||||||||||||||||||||||||||||
AA+ - AA- | 52 | ||||||||||||||||||||||||||||||||||||
A+ - A- | 14 | ||||||||||||||||||||||||||||||||||||
Not Rated | 8 | ||||||||||||||||||||||||||||||||||||
Total | 100 | % |
Note_5_Loans_Tables
Note 5 - Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Note 5 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Schedule of Gross Loans and Commercial Loans [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||
Total | % of total | Total | % of total | ||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 430,025 | 53.4 | % | $ | 455,452 | 59.4 | % | |||||||||||||||||||||||||||||
Single-family residential | 204,439 | 25.4 | 178,125 | 23.2 | |||||||||||||||||||||||||||||||||
Commercial and industrial | 80,927 | 10 | 73,078 | 9.5 | |||||||||||||||||||||||||||||||||
Consumer | 76,984 | 9.6 | 50,099 | 6.5 | |||||||||||||||||||||||||||||||||
Other | 12,684 | 1.6 | 10,759 | 1.4 | |||||||||||||||||||||||||||||||||
Loans, gross | $ | 805,059 | 100 | % | $ | 767,513 | 100 | % | |||||||||||||||||||||||||||||
Summary of Loans Secured by Commercial Real Estate [Table Text Block] | Total commercial | % of gross loans | % of Bank's | ||||||||||||||||||||||||||||||||||
real estate loans | total regulatory | ||||||||||||||||||||||||||||||||||||
capital | |||||||||||||||||||||||||||||||||||||
Secured by commercial real estate | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 48,063 | 6 | % | 33.5 | % | |||||||||||||||||||||||||||||||
Multifamily residential | 9,025 | 1.1 | 6.3 | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 372,937 | 46.3 | 260.2 | ||||||||||||||||||||||||||||||||||
Total loans secured by commercial real estate | $ | 430,025 | 53.4 | % | 300 | % | |||||||||||||||||||||||||||||||
Summary of Loans Secured by Commercial Real Estate by Category [Table Text Block] | Total commercial | % of gross loans | % of Bank's | ||||||||||||||||||||||||||||||||||
real estate loans | total regulatory | ||||||||||||||||||||||||||||||||||||
capital | |||||||||||||||||||||||||||||||||||||
Development commercial real estate loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Land - unimproved (commercial or residential) | $ | 15,636 | 1.9 | % | 10.9 | % | |||||||||||||||||||||||||||||||
Land development - commercial | 5,926 | 0.7 | 4.2 | ||||||||||||||||||||||||||||||||||
Land development - residential | 5,338 | 0.7 | 3.7 | ||||||||||||||||||||||||||||||||||
Commercial construction: | |||||||||||||||||||||||||||||||||||||
Retail | 3,167 | 0.4 | 2.2 | ||||||||||||||||||||||||||||||||||
Total development commercial real estate loans | 30,067 | 3.7 | 21 | ||||||||||||||||||||||||||||||||||
Existing and other commercial real estate loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Hotel / motel | 40,384 | 5 | 28.2 | ||||||||||||||||||||||||||||||||||
Retail | 32,703 | 4.1 | 22.8 | ||||||||||||||||||||||||||||||||||
Office | 26,804 | 3.3 | 18.7 | ||||||||||||||||||||||||||||||||||
Multifamily | 9,025 | 1.1 | 6.3 | ||||||||||||||||||||||||||||||||||
Industrial and warehouse | 5,976 | 0.8 | 4.2 | ||||||||||||||||||||||||||||||||||
Healthcare | 13,183 | 1.6 | 9.2 | ||||||||||||||||||||||||||||||||||
Miscellaneous commercial | 102,115 | 12.7 | 71.2 | ||||||||||||||||||||||||||||||||||
Residential construction - speculative | 299 | - | 0.2 | ||||||||||||||||||||||||||||||||||
Total existing and other commercial real estate loans | 230,489 | 28.6 | 160.8 | ||||||||||||||||||||||||||||||||||
Commercial real estate owner-occupied and residential loans | |||||||||||||||||||||||||||||||||||||
Secured by: | |||||||||||||||||||||||||||||||||||||
Commercial - owner-occupied | 151,774 | 18.9 | 105.9 | ||||||||||||||||||||||||||||||||||
Commercial construction - owner-occupied | 8,542 | 1.1 | 5.9 | ||||||||||||||||||||||||||||||||||
Residential construction - contract | 9,153 | 1.1 | 6.4 | ||||||||||||||||||||||||||||||||||
Total commercial real estate owner-occupied and residential loans | 169,469 | 21.1 | 118.2 | ||||||||||||||||||||||||||||||||||
Total loans secured by commercial real estate | $ | 430,025 | 53.4 | % | 300 | % | |||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | 30-89 days past due and still accruing interest | Greater than 90 days past due and still accruing interest | Greater than 90 days past due and not accruing interest (nonaccrual) | Total past due | Current | Loans, gross | |||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 112 | $ | - | $ | 441 | $ | 553 | $ | 47,510 | $ | 48,063 | |||||||||||||||||||||||||
Multifamily residential | - | - | - | - | 9,025 | 9,025 | |||||||||||||||||||||||||||||||
Nonfarm nonresidential | 2,102 | - | 8,174 | 10,276 | 362,661 | 372,937 | |||||||||||||||||||||||||||||||
Total commercial real estate | 2,214 | - | 8,615 | 10,829 | 419,196 | 430,025 | |||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 151 | - | 977 | 1,128 | 79,516 | 80,644 | |||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 827 | 238 | 1,928 | 2,993 | 118,014 | 121,007 | |||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 16 | - | 78 | 94 | 2,694 | 2,788 | |||||||||||||||||||||||||||||||
Total single-family residential | 994 | 238 | 2,983 | 4,215 | 200,224 | 204,439 | |||||||||||||||||||||||||||||||
Commercial and industrial | 361 | - | 715 | 1,076 | 79,851 | 80,927 | |||||||||||||||||||||||||||||||
Indirect automobile | 283 | - | 116 | 399 | 65,878 | 66,277 | |||||||||||||||||||||||||||||||
All other consumer | 33 | - | 34 | 67 | 10,640 | 10,707 | |||||||||||||||||||||||||||||||
Total consumer | 316 | - | 150 | 466 | 76,518 | 76,984 | |||||||||||||||||||||||||||||||
Farmland | - | - | - | - | 6,032 | 6,032 | |||||||||||||||||||||||||||||||
Obligations of states and political subdivisions of the U.S. | - | - | - | - | 416 | 416 | |||||||||||||||||||||||||||||||
Other | - | - | - | - | 6,236 | 6,236 | |||||||||||||||||||||||||||||||
Total other | - | - | - | - | 12,684 | 12,684 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 3,885 | $ | 238 | $ | 12,463 | $ | 16,586 | $ | 788,473 | $ | 805,059 | |||||||||||||||||||||||||
30-89 days | Greater than | Total past due | Current | Loans, gross | |||||||||||||||||||||||||||||||||
past due and | 90 days past | ||||||||||||||||||||||||||||||||||||
still accruing | due and not | ||||||||||||||||||||||||||||||||||||
interest | accruing | ||||||||||||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||||||||||||
(nonaccrual) | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 82 | $ | 3,872 | $ | 3,954 | $ | 72,604 | $ | 76,558 | |||||||||||||||||||||||||||
Multifamily residential | - | 181 | 181 | 10,236 | 10,417 | ||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 1,199 | 4,832 | 6,031 | 362,446 | 368,477 | ||||||||||||||||||||||||||||||||
Total commercial real estate | 1,281 | 8,885 | 10,166 | 445,286 | 455,452 | ||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 148 | 797 | 945 | 68,973 | 69,918 | ||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,091 | 3,176 | 4,267 | 100,009 | 104,276 | ||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 41 | 129 | 170 | 3,761 | 3,931 | ||||||||||||||||||||||||||||||||
Total single-family residential | 1,280 | 4,102 | 5,382 | 172,743 | 178,125 | ||||||||||||||||||||||||||||||||
Commercial and industrial | 306 | 1,885 | 2,191 | 70,887 | 73,078 | ||||||||||||||||||||||||||||||||
Indirect automobile | 294 | 210 | 504 | 38,220 | 38,724 | ||||||||||||||||||||||||||||||||
All other consumer | 41 | 26 | 67 | 11,308 | 11,375 | ||||||||||||||||||||||||||||||||
Total consumer | 335 | 236 | 571 | 49,528 | 50,099 | ||||||||||||||||||||||||||||||||
Farmland | - | - | - | 3,394 | 3,394 | ||||||||||||||||||||||||||||||||
Obligations of states and political subdivisions of the U.S. | - | - | - | 497 | 497 | ||||||||||||||||||||||||||||||||
Other | - | - | - | 6,868 | 6,868 | ||||||||||||||||||||||||||||||||
Total other | - | - | - | 10,759 | 10,759 | ||||||||||||||||||||||||||||||||
Loans, gross | $ | 3,202 | $ | 15,108 | $ | 18,310 | $ | 749,203 | $ | 767,513 | |||||||||||||||||||||||||||
Schedule of Composition of Troubled Debt Restructuring Impaired Loans [Table Text Block] | December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Accrual | $ | 15,585 | $ | 26,744 | |||||||||||||||||||||||||||||||||
Nonaccrual | 4,286 | 2,184 | |||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | $ | 19,871 | $ | 28,928 | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
Accrual troubled debt restructured loans | $ | 15,585 | $ | 26,744 | |||||||||||||||||||||||||||||||||
Nonaccrual troubled debt restructured loans | 4,286 | 2,184 | |||||||||||||||||||||||||||||||||||
Accrual other loans | 7,955 | 9,187 | |||||||||||||||||||||||||||||||||||
Nonaccrual other loans | 3,736 | 6,580 | |||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 31,562 | $ | 44,695 | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the years ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Carrying balance | $ | 8,615 | $ | 7,077 | $ | 6,018 | |||||||||||||||||||||||||||||||
Count | 7 | 14 | 19 | ||||||||||||||||||||||||||||||||||
Schedule of Loans Modified [Table Text Block] | For the years ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | |||||||||||||||||||||||||||||
Construction, land development and other land loans | - | $ | - | $ | - | 1 | $ | 60 | $ | 60 | 1 | $ | 4,089 | $ | 4,089 | ||||||||||||||||||||||
Nonfarm nonresidential | 1 | 883 | 883 | 4 | 4,364 | 4,364 | 8 | 2,305 | 2,305 | ||||||||||||||||||||||||||||
Total commercial real estate | 1 | 883 | 883 | 5 | 4,424 | 4,424 | 9 | 6,394 | 6,394 | ||||||||||||||||||||||||||||
Single-family real estate | - | - | - | - | - | - | 4 | 715 | 715 | ||||||||||||||||||||||||||||
Commercial and industrial | 3 | 2,665 | 1,365 | 1 | 242 | 242 | 3 | 506 | 501 | ||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,548 | $ | 2,248 | 6 | $ | 4,666 | $ | 4,666 | 16 | $ | 7,615 | $ | 7,610 | ||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | Number of loans | Pre-modification outstanding recorded investment | Post-modification outstanding recorded investment | |||||||||||||||||||||||||||||
Rate concession | - | $ | - | $ | - | 1 | $ | 60 | $ | 60 | - | $ | - | $ | - | ||||||||||||||||||||||
Term concession | 1 | 883 | 883 | 5 | 4,606 | 4,606 | 6 | 5,047 | 5,047 | ||||||||||||||||||||||||||||
Term and principal concessions | 3 | 2,665 | 1,365 | - | - | - | - | - | - | ||||||||||||||||||||||||||||
Rate and term concessions | - | - | - | - | - | - | 10 | 2,568 | 2,563 | ||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,548 | $ | 2,248 | 6 | $ | 4,666 | $ | 4,666 | 16 | $ | 7,615 | $ | 7,610 | ||||||||||||||||||||||
Schedule of Modified Troubled Debt Restructuring Loans [Table Text Block] | For the years ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||
loans | investment | loans | investment | loans | investment | ||||||||||||||||||||||||||||||||
Construction, land development and other land loans | - | $ | - | 1 | $ | 56 | - | $ | - | ||||||||||||||||||||||||||||
Nonfarm nonresidential | 2 | 2,597 | - | - | 2 | 2,122 | |||||||||||||||||||||||||||||||
Total commercial real estate | 2 | 2,597 | 1 | 56 | 2 | 2,122 | |||||||||||||||||||||||||||||||
Single-family real estate | - | - | 1 | 404 | 2 | 293 | |||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 486 | 1 | 127 | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Loans, gross | 4 | $ | 3,083 | 3 | $ | 587 | 4 | $ | 2,415 | ||||||||||||||||||||||||||||
Schedule of Composition of Impaired Loans by Class [Table Text Block] | Loans, gross | ||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||
investment | principal | allowance | |||||||||||||||||||||||||||||||||||
balance | |||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 283 | $ | 805 | |||||||||||||||||||||||||||||||||
Multifamily residential | - | - | |||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 18,534 | 23,055 | |||||||||||||||||||||||||||||||||||
Total commercial real estate | 18,817 | 23,860 | |||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 333 | 333 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 645 | 750 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 24 | 24 | |||||||||||||||||||||||||||||||||||
Total single-family residential | 1,002 | 1,107 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 607 | 2,208 | |||||||||||||||||||||||||||||||||||
Consumer | - | - | |||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 20,426 | $ | 27,175 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 6 | $ | 6 | $ | - | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 10,186 | 12,021 | 1,555 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 10,192 | 12,027 | 1,555 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | - | - | - | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 208 | 208 | 24 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 106 | 106 | 41 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 314 | 314 | 65 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 616 | 616 | 115 | ||||||||||||||||||||||||||||||||||
Consumer | 14 | 14 | 2 | ||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 11,136 | $ | 12,971 | $ | 1,737 | |||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 289 | $ | 811 | $ | - | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 28,720 | 35,076 | 1,555 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 29,009 | 35,887 | 1,555 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 333 | 333 | - | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 853 | 958 | 24 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 130 | 130 | 41 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 1,316 | 1,421 | 65 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,223 | 2,824 | 115 | ||||||||||||||||||||||||||||||||||
Consumer | 14 | 14 | 2 | ||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 31,562 | $ | 40,146 | $ | 1,737 | |||||||||||||||||||||||||||||||
Loans, gross | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||||||||||
investment | principal | allowance | |||||||||||||||||||||||||||||||||||
balance | |||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 3,244 | $ | 6,503 | |||||||||||||||||||||||||||||||||
Multifamily residential | 181 | 239 | |||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 17,414 | 24,422 | |||||||||||||||||||||||||||||||||||
Total commercial real estate | 20,839 | 31,164 | |||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | - | - | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,369 | 5,811 | |||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | - | - | |||||||||||||||||||||||||||||||||||
Total single-family residential | 1,369 | 5,811 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 753 | 1,150 | |||||||||||||||||||||||||||||||||||
Consumer | 7 | 7 | |||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 22,968 | $ | 38,132 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 260 | $ | 260 | $ | 68 | |||||||||||||||||||||||||||||||
Multifamily residential | - | - | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 18,839 | 18,839 | 1,668 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 19,099 | 19,099 | 1,736 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 404 | 404 | 83 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 323 | 323 | 18 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 195 | 195 | 62 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 922 | 922 | 163 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 1,680 | 2,980 | 644 | ||||||||||||||||||||||||||||||||||
Consumer | 26 | 26 | 12 | ||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 21,727 | $ | 23,027 | $ | 2,555 | |||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 3,504 | $ | 6,763 | $ | 68 | |||||||||||||||||||||||||||||||
Multifamily residential | 181 | 239 | - | ||||||||||||||||||||||||||||||||||
Nonfarm nonresidential | 36,253 | 43,261 | 1,668 | ||||||||||||||||||||||||||||||||||
Total commercial real estate | 39,938 | 50,263 | 1,736 | ||||||||||||||||||||||||||||||||||
Single-family real estate, revolving, open-end loans | 404 | 404 | 83 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, first lien | 1,692 | 6,134 | 18 | ||||||||||||||||||||||||||||||||||
Single-family real estate, closed-end, junior lien | 195 | 195 | 62 | ||||||||||||||||||||||||||||||||||
Total single-family residential | 2,291 | 6,733 | 163 | ||||||||||||||||||||||||||||||||||
Commercial and industrial | 2,433 | 4,130 | 644 | ||||||||||||||||||||||||||||||||||
Consumer | 33 | 33 | 12 | ||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 44,695 | $ | 61,159 | $ | 2,555 | |||||||||||||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Allowance for loan losses, beginning of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
Provision for loan losses | (2,506 | ) | (553 | ) | (152 | ) | 362 | 549 | (2,300 | ) | |||||||||||||||||||||||||||
Loan charge-offs | 1,082 | 697 | 530 | 225 | 555 | 3,089 | |||||||||||||||||||||||||||||||
Loan recoveries | (396 | ) | (982 | ) | (47 | ) | (83 | ) | (316 | ) | (1,824 | ) | |||||||||||||||||||||||||
Net loans charged-off (recovered) | 686 | (285 | ) | 483 | 142 | 239 | 1,265 | ||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 7,373 | $ | 2,856 | $ | 1,047 | $ | 1,338 | $ | 306 | $ | 12,920 | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,555 | $ | 65 | $ | 115 | $ | 2 | $ | - | $ | 1,737 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 5,818 | 2,791 | 932 | 1,336 | 306 | 11,183 | |||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 7,373 | $ | 2,856 | $ | 1,047 | $ | 1,338 | $ | 306 | $ | 12,920 | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 29,009 | $ | 1,316 | $ | 1,223 | $ | 14 | $ | - | $ | 31,562 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 401,016 | 203,123 | 79,704 | 76,970 | 12,684 | 773,497 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 430,025 | $ | 204,439 | $ | 80,927 | $ | 76,984 | $ | 12,684 | $ | 805,059 | |||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Allowance for loan losses, beginning of period | $ | 12,317 | $ | 3,140 | $ | 1,264 | $ | 1,093 | $ | 11 | $ | 17,825 | |||||||||||||||||||||||||
Provision for loan losses | (263 | ) | 580 | 2,697 | 172 | 279 | 3,465 | ||||||||||||||||||||||||||||||
Loan charge-offs | 1,780 | 731 | 2,426 | 285 | 669 | 5,891 | |||||||||||||||||||||||||||||||
Loan recoveries | (291 | ) | (135 | ) | (147 | ) | (138 | ) | (375 | ) | (1,086 | ) | |||||||||||||||||||||||||
Net loans charged-off | 1,489 | 596 | 2,279 | 147 | 294 | 4,805 | |||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||
Commercial | Single-family | Commercial and | |||||||||||||||||||||||||||||||||||
real estate | residential | industrial | Consumer | Other | Total | ||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,736 | $ | 163 | $ | 644 | $ | 12 | $ | - | $ | 2,555 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 8,829 | 2,961 | 1,038 | 1,106 | (4 | ) | 13,930 | ||||||||||||||||||||||||||||||
Allowance for loan losses, end of period | $ | 10,565 | $ | 3,124 | $ | 1,682 | $ | 1,118 | $ | (4 | ) | $ | 16,485 | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 39,938 | $ | 2,291 | $ | 2,433 | $ | 33 | $ | - | $ | 44,695 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 415,514 | 175,834 | 70,645 | 50,066 | 10,759 | 722,818 | |||||||||||||||||||||||||||||||
Loans, gross | $ | 455,452 | $ | 178,125 | $ | 73,078 | $ | 50,099 | $ | 10,759 | $ | 767,513 | |||||||||||||||||||||||||
Commercial and Industrial [Member] | |||||||||||||||||||||||||||||||||||||
Note 5 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Construction, land | Multifamily residential | Nonfarm nonresidential | Total commercial real | |||||||||||||||||||||||||||||||||
development and other | estate | ||||||||||||||||||||||||||||||||||||
land loans | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||
Grade 2 | - | - | - | - | |||||||||||||||||||||||||||||||||
Grade 3 | 3,337 | 144 | 74,966 | 78,447 | |||||||||||||||||||||||||||||||||
Grade 4 | 17,826 | 1,191 | 183,829 | 202,846 | |||||||||||||||||||||||||||||||||
Grade W | 9,595 | 7,690 | 62,429 | 79,714 | |||||||||||||||||||||||||||||||||
Grade 5 | 138 | - | 25,502 | 25,640 | |||||||||||||||||||||||||||||||||
Grade 6 | 1,724 | - | 25,131 | 26,855 | |||||||||||||||||||||||||||||||||
Grade 7 | - | - | 1,051 | 1,051 | |||||||||||||||||||||||||||||||||
Not risk rated* | 15,443 | - | 29 | 15,472 | |||||||||||||||||||||||||||||||||
Total | $ | 48,063 | $ | 9,025 | $ | 372,937 | $ | 430,025 | |||||||||||||||||||||||||||||
Commercial and | |||||||||||||||||||||||||||||||||||||
industrial | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | 753 | |||||||||||||||||||||||||||||||||||
Grade 2 | 1,534 | ||||||||||||||||||||||||||||||||||||
Grade 3 | 12,864 | ||||||||||||||||||||||||||||||||||||
Grade 4 | 53,171 | ||||||||||||||||||||||||||||||||||||
Grade W | 3,953 | ||||||||||||||||||||||||||||||||||||
Grade 5 | 5,786 | ||||||||||||||||||||||||||||||||||||
Grade 6 | 2,476 | ||||||||||||||||||||||||||||||||||||
Grade 7 | 339 | ||||||||||||||||||||||||||||||||||||
Not risk rated | 51 | ||||||||||||||||||||||||||||||||||||
Total | $ | 80,927 | |||||||||||||||||||||||||||||||||||
Construction, land | Multifamily residential | Nonfarm nonresidential | Total commercial real | ||||||||||||||||||||||||||||||||||
development and other | estate | ||||||||||||||||||||||||||||||||||||
land loans | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||
Grade 2 | - | - | - | - | |||||||||||||||||||||||||||||||||
Grade 3 | 10,025 | 259 | 69,954 | 80,238 | |||||||||||||||||||||||||||||||||
Grade 4 | 34,654 | 887 | 171,585 | 207,126 | |||||||||||||||||||||||||||||||||
Grade W | 8,679 | 9,079 | 83,843 | 101,601 | |||||||||||||||||||||||||||||||||
Grade 5 | 2,202 | - | 16,727 | 18,929 | |||||||||||||||||||||||||||||||||
Grade 6 | 4,400 | 181 | 24,352 | 28,933 | |||||||||||||||||||||||||||||||||
Grade 7 | 803 | - | 1,604 | 2,407 | |||||||||||||||||||||||||||||||||
Not risk rated* | 15,795 | 11 | 412 | 16,218 | |||||||||||||||||||||||||||||||||
Total | $ | 76,558 | $ | 10,417 | $ | 368,477 | $ | 455,452 | |||||||||||||||||||||||||||||
Commercial and | |||||||||||||||||||||||||||||||||||||
industrial | |||||||||||||||||||||||||||||||||||||
Grade 1 | $ | 879 | |||||||||||||||||||||||||||||||||||
Grade 2 | 1,186 | ||||||||||||||||||||||||||||||||||||
Grade 3 | 8,830 | ||||||||||||||||||||||||||||||||||||
Grade 4 | 51,167 | ||||||||||||||||||||||||||||||||||||
Grade W | 5,151 | ||||||||||||||||||||||||||||||||||||
Grade 5 | 2,361 | ||||||||||||||||||||||||||||||||||||
Grade 6 | 2,923 | ||||||||||||||||||||||||||||||||||||
Grade 7 | 494 | ||||||||||||||||||||||||||||||||||||
Not risk rated | 87 | ||||||||||||||||||||||||||||||||||||
Total | $ | 73,078 | |||||||||||||||||||||||||||||||||||
Mortgage, Consumer and Other Loans [Member] | |||||||||||||||||||||||||||||||||||||
Note 5 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Single-family residential revolving, open-end loans | Single-family residential closed-end, first lien | Single-family residential closed-end, junior lien | Total single-family | |||||||||||||||||||||||||||||||||
residential loans | |||||||||||||||||||||||||||||||||||||
Performing | $ | 79,667 | $ | 119,079 | $ | 2,710 | $ | 201,456 | |||||||||||||||||||||||||||||
Nonperforming | 977 | 1,928 | 78 | 2,983 | |||||||||||||||||||||||||||||||||
Total | $ | 80,644 | $ | 121,007 | $ | 2,788 | $ | 204,439 | |||||||||||||||||||||||||||||
Indirect automobile | All other consumer | Total consumer | |||||||||||||||||||||||||||||||||||
Performing | $ | 66,161 | $ | 10,673 | $ | 76,834 | |||||||||||||||||||||||||||||||
Nonperforming | 116 | 34 | 150 | ||||||||||||||||||||||||||||||||||
Total | $ | 66,277 | $ | 10,707 | $ | 76,984 | |||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||||
Performing | $ | 12,684 | |||||||||||||||||||||||||||||||||||
Nonperforming | - | ||||||||||||||||||||||||||||||||||||
Total | $ | 12,684 | |||||||||||||||||||||||||||||||||||
Single-family residential revolving, open-end loans | Single-family residential closed-end, first lien | Single-family residential closed-end, junior lien | Total single-family residential loans | ||||||||||||||||||||||||||||||||||
Performing | $ | 69,121 | $ | 101,100 | $ | 3,802 | $ | 174,023 | |||||||||||||||||||||||||||||
Nonperforming | 797 | 3,176 | 129 | 4,102 | |||||||||||||||||||||||||||||||||
Total | $ | 69,918 | $ | 104,276 | $ | 3,931 | $ | 178,125 | |||||||||||||||||||||||||||||
Indirect automobile | All other consumer | Total consumer | |||||||||||||||||||||||||||||||||||
Performing | $ | 38,514 | $ | 11,349 | $ | 49,863 | |||||||||||||||||||||||||||||||
Nonperforming | 210 | 26 | 236 | ||||||||||||||||||||||||||||||||||
Total | $ | 38,724 | $ | 11,375 | $ | 50,099 | |||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||||
Performing | $ | 10,759 | |||||||||||||||||||||||||||||||||||
Nonperforming | - | ||||||||||||||||||||||||||||||||||||
Total | $ | 10,759 |
Note_6_Other_Loans_Held_for_Sa1
Note 6 - Other Loans Held for Sale and Valuation Allowance (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Loans Held For Sale And Valuation Allowance [Abstract] | |||||||||
Other Loans Held-for-sale and Valuation Allowance Disclosure [Table Text Block] | At and for the years ended December 31, | ||||||||
2014 | 2013 | ||||||||
Other loans held for sale, net of valuation allowance, beginning of period | $ | - | $ | 776 | |||||
SBA loans transferred to other loans held for sale | 1,166 | 2,015 | |||||||
Proceeds from sales of SBA loans | (1,236 | ) | (2,222 | ) | |||||
Gain on sale of SBA loans | 70 | 207 | |||||||
SBA loan activity, net | - | - | |||||||
Proceeds from sales of other loans held for sale | - | (1,102 | ) | ||||||
Gain on sale of other loans held for sale | - | 326 | |||||||
Other loans held for sale activity, net | - | (776 | ) | ||||||
Other loans held for sale, net of valuation allowance, end of period | $ | - | $ | - | |||||
At and for the years ended December 31, | |||||||||
2014 | 2013 | ||||||||
Valuation allowance, beginning of period | $ | - | $ | 1,512 | |||||
Reduction resulting from sales of other loans held for sale | - | (1,512 | ) | ||||||
Valuation allowance, end of period | $ | - | $ | - |
Note_7_Premises_and_Equipment_1
Note 7 - Premises and Equipment, Net (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment [Abstract] | ||||||||||
Property, Plant and Equipment [Table Text Block] | December 31, | |||||||||
2014 | 2013 | |||||||||
Land | $ | 5,521 | $ | 5,521 | ||||||
Buildings | 19,539 | 19,395 | ||||||||
Furniture and equipment | 13,395 | 13,259 | ||||||||
Software | 5,556 | 5,344 | ||||||||
Leasehold improvements | 3,782 | 3,746 | ||||||||
Capital lease asset | 557 | 1,396 | ||||||||
Bank automobiles | 94 | 95 | ||||||||
Premises and equipment, gross | $ | 48,444 | $ | 48,756 | ||||||
Accumulated depreciation | (26,438 | ) | (25,389 | ) | ||||||
Premises and equipment, net | $ | 22,006 | $ | 23,367 |
Note_8_Servicing_Rights_Tables
Note 8 - Servicing Rights (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||
Servicing Asset at Amortized Cost [Table Text Block] | At and for the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Mortgage-servicing rights portfolio, net of valuation allowance, beginning of period | $ | 2,431 | $ | 2,584 | $ | 2,586 | |||||||
Capitalized mortgage-servicing rights | 390 | 612 | 864 | ||||||||||
Mortgage-servicing rights portfolio amortization and impairment | (573 | ) | (765 | ) | (866 | ) | |||||||
Mortgage-servicing rights portfolio, net of valuation allowance, end of period | $ | 2,248 | $ | 2,431 | $ | 2,584 | |||||||
At and for the years ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
SBA servicing rights portfolio, net of valuation allowance, beginning of period | $ | 64 | $ | 39 | $ | - | |||||||
Capitalized SBA servicing rights | 31 | 47 | 40 | ||||||||||
SBA servicing rights portfolio amortization and impairment | (18 | ) | (22 | ) | (1 | ) | |||||||
SBA servicing rights portfolio, net of valuation allowance, end of period | $ | 77 | $ | 64 | $ | 39 | |||||||
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | At and for the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Valuation allowance, beginning of period | $ | 31 | $ | 41 | $ | 39 | |||||||
Additions charged (reductions credited) to operations, net | (10 | ) | (10 | ) | 2 | ||||||||
Valuation allowance, end of period | $ | 21 | $ | 31 | $ | 41 | |||||||
At and for the year ended | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Valuation allowance, beginning of period | $ | 8 | $ | - | |||||||||
Additions charged to operations, net | 4 | 8 | |||||||||||
Valuation allowance, end of period | $ | 12 | $ | 8 | |||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For the years ended December 31, | ||||||||||||
2015 | $ | 661 | |||||||||||
2016 | 531 | ||||||||||||
2017 | 423 | ||||||||||||
2018 | 333 | ||||||||||||
2019 | 260 | ||||||||||||
Thereafter | 61 | ||||||||||||
$ | 2,269 | ||||||||||||
For the years ended December 31, | |||||||||||||
2015 | $ | 14 | |||||||||||
2016 | 12 | ||||||||||||
2017 | 11 | ||||||||||||
2018 | 10 | ||||||||||||
2019 | 8 | ||||||||||||
Thereafter | 34 | ||||||||||||
$ | 89 |
Note_9_Foreclosed_Real_Estate_1
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Foreclosed Real Estate And Repossessed Personal Property [Abstract] | |||||||||||||
Schedule of Foreclosed Real Estate and Repossessed Personal Property [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Foreclosed real estate | $ | 5,949 | $ | 7,502 | |||||||||
Repossessed personal property | 35 | 43 | |||||||||||
Total foreclosed real estate and repossessed personal property | $ | 5,984 | $ | 7,545 | |||||||||
Schedule of Changes in Foreclosed Real Estate Portfolio [Table Text Block] | At and for the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Foreclosed real estate, beginning of period | $ | 7,502 | $ | 10,911 | $ | 27,663 | |||||||
Plus: new foreclosed real estate | 2,312 | 2,541 | 5,389 | ||||||||||
Less: proceeds from sale of foreclosed real estate | (2,521 | ) | (2,973 | ) | (13,524 | ) | |||||||
Plus: gain on sale of foreclosed real estate | 386 | 142 | 729 | ||||||||||
Less: writedowns and losses charged to expense | (1,730 | ) | (3,119 | ) | (9,346 | ) | |||||||
Foreclosed real estate, end of period | $ | 5,949 | $ | 7,502 | $ | 10,911 |
Note_11_Deposits_Tables
Note 11 - Deposits (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Schedule of Composition of Deposits [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Transaction deposits | $ | 528,633 | $ | 494,289 | |||||||||
Money market deposits | 138,449 | 136,476 | |||||||||||
Savings deposits | 90,318 | 79,760 | |||||||||||
Time deposits $100,000 and greater | 67,419 | 79,654 | |||||||||||
Time deposits less than $100,000 | 103,501 | 117,181 | |||||||||||
Total deposits | $ | 928,320 | $ | 907,360 | |||||||||
Schedule of Time Deposits Maturities [Table Text Block] | For the years ended December 31, | ||||||||||||
2015 | $ | 124,154 | |||||||||||
2016 | 24,321 | ||||||||||||
2017 | 12,809 | ||||||||||||
2018 | 7,262 | ||||||||||||
2019 | 2,343 | ||||||||||||
Thereafter | 31 | ||||||||||||
$ | 170,920 | ||||||||||||
Schedule of Deposit Account Balances [Table Text Block] | As of December 31, 2014 | ||||||||||||
Three months or less | $ | 19,401 | |||||||||||
Over three months through six months | 12,174 | ||||||||||||
Over six months through twelve months | 14,187 | ||||||||||||
Twelve months or less | 45,762 | ||||||||||||
Over twelve months | 21,657 | ||||||||||||
Total time deposits $100 thousand and greater | $ | 67,419 | |||||||||||
Schedule of Interest Expense on Deposits [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Transaction deposits | $ | 41 | $ | 39 | $ | 39 | |||||||
Money market deposits | 38 | 32 | 47 | ||||||||||
Savings deposits | 9 | 10 | 9 | ||||||||||
Time deposits | 406 | 2,176 | 5,041 | ||||||||||
Total interest expense on deposits | $ | 494 | $ | 2,257 | $ | 5,136 |
Note_12_Borrowings_Tables
Note 12 - Borrowings (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Short-term Debt [Table Text Block] | At and for the years ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Retail repurchase agreements | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | 15,921 | $ | 18,175 | $ | 15,357 | |||||||||||||||||||
Average amount outstanding during year | 20,054 | 18,916 | 20,485 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | 31,418 | 24,640 | 27,985 | ||||||||||||||||||||||
Rate paid at year-end | 0.01 | % | 0.01 | % | 0.01 | % | |||||||||||||||||||
Weighted average rate paid during the year | 0.01 | 0.01 | 0.01 | ||||||||||||||||||||||
FHLB advances | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | 35,000 | $ | 35,000 | $ | - | |||||||||||||||||||
Average amount outstanding during year | 12,205 | 425 | 1 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | 40,000 | 35,000 | - | ||||||||||||||||||||||
Rate paid at year-end | 0.24 | % | 0.17 | % | - | % | |||||||||||||||||||
Weighted average rate paid during the year | 0.22 | 0.24 | - | ||||||||||||||||||||||
Other borrowings | |||||||||||||||||||||||||
Amount outstanding at year-end | $ | - | $ | - | $ | - | |||||||||||||||||||
Average amount outstanding during year | 16 | 159 | 30 | ||||||||||||||||||||||
Maximum amount outstanding at any month-end | - | - | - | ||||||||||||||||||||||
Rate paid at year-end | - | % | - | % | - | % | |||||||||||||||||||
Weighted average rate paid during the year | - | - | - | ||||||||||||||||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Available lendable loan collateral value pledged to serve against FHLB advances | $ | 79,139 | $ | 90,225 | |||||||||||||||||||||
FHLB advances outstanding | 35,000 | 35,000 | |||||||||||||||||||||||
Excess lendable collateral value pledged to serve against FHLB advances | $ | 44,139 | $ | 55,225 | |||||||||||||||||||||
Schedule of Line of Credit Facilities [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
Secured | Unsecured | Total | Secured | Unsecured | Total | ||||||||||||||||||||
Amount available | $ | 15,000 | $ | 65,000 | $ | 80,000 | $ | 35,000 | $ | 25,000 | $ | 60,000 | |||||||||||||
Count | 2 | 6 | 8 | 3 | 2 | 5 |
Note_13_Shareholders_Equity_Ta
Note 13 - Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net unrealized loss on investment securities available for sale | $ | (819 | ) | $ | (2,990 | ) | $ | 1,491 | |||||
Net unrealized defined benefit pension plan actuarial loss | (9,084 | ) | (7,303 | ) | (8,208 | ) | |||||||
Total accumulated other comprehensive loss, net of tax | $ | (9,903 | ) | $ | (10,293 | ) | $ | (6,717 | ) | ||||
Schedule of Dividends Payable [Table Text Block] | Declaration date | Record date | Payment date | Cash dividend per | |||||||||
common share | |||||||||||||
7/17/14 | 8/4/14 | 8/18/14 | $ | 0.05 | |||||||||
10/16/14 | 11/3/14 | 11/17/14 | 0.05 |
Note_14_Income_Taxes_Tables
Note 14 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current income tax expense | |||||||||||||
Federal | $ | 300 | $ | 181 | $ | - | |||||||
State | 503 | 1,238 | - | ||||||||||
Total current expense | 803 | 1,419 | - | ||||||||||
Deferred income tax expense (benefit) | |||||||||||||
Federal | 4,666 | (19,798 | ) | 2,721 | |||||||||
State | - | (36 | ) | - | |||||||||
Total deferred expense (benefit) | 4,666 | (19,834 | ) | 2,721 | |||||||||
Total current and deferred expense (benefit) | $ | 5,469 | $ | (18,415 | ) | $ | 2,721 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Changes from statutory rates resulting from: | |||||||||||||
State income tax, net of federal benefit | 2.2 | 8.6 | - | ||||||||||
Tax-exempt income | (1.6 | ) | (1.5 | ) | (74.1 | ) | |||||||
Expenses not deductible for tax purposes | 0.1 | 0.3 | 2.6 | ||||||||||
(Decrease) increase in deferred tax asset valuation allowance | - | (240.0 | ) | 352.2 | |||||||||
Other | 1.2 | 0.1 | 1.9 | ||||||||||
Effective income tax rate | 36.9 | % | (197.5 | )% | 317.6 | % | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets | |||||||||||||
Recognized built-in loss carryforward | $ | 7,609 | $ | 7,689 | |||||||||
Allowance for loan losses | 4,522 | 5,770 | |||||||||||
Federal net operating loss carryforward | 3,275 | 6,072 | |||||||||||
Writedowns of foreclosed real estate | 1,912 | 2,369 | |||||||||||
Equity-based compensation | 1,054 | 1,047 | |||||||||||
Pension Plan contributions and accrued liability | 1,053 | 463 | |||||||||||
Alternative minimum tax credit carryforward | 750 | 493 | |||||||||||
Unrealized losses on investment securities available for sale | 501 | 1,829 | |||||||||||
Other | 375 | 365 | |||||||||||
Nonaccrual loan interest | - | 202 | |||||||||||
Deferred tax assets, gross | 21,051 | 26,299 | |||||||||||
Valuation allowance | - | - | |||||||||||
Deferred tax assets, net of valuation allowance | 21,051 | 26,299 | |||||||||||
Deferred tax liabilities | |||||||||||||
Deferred loan fees and costs, net | (1,703 | ) | (1,592 | ) | |||||||||
Premises, equipment and capital leases | (1,148 | ) | (1,380 | ) | |||||||||
Servicing rights | (814 | ) | (874 | ) | |||||||||
Other | (333 | ) | (366 | ) | |||||||||
Deferred tax liabilities, gross | (3,998 | ) | (4,212 | ) | |||||||||
Deferred tax asset, net | $ | 17,053 | $ | 22,087 |
Note_15_Benefit_Plans_Tables
Note 15 - Benefit Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | At and for the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Change in benefit obligation | |||||||||||||
Benefit obligation, beginning of period | $ | 18,122 | $ | 18,507 | $ | 19,786 | |||||||
Interest cost | 892 | 848 | 958 | ||||||||||
Net actuarial loss | 4,110 | 80 | 668 | ||||||||||
Benefits paid | (2,686 | ) | (1,313 | ) | (2,905 | ) | |||||||
Benefit obligation, end of period | 20,438 | 18,122 | 18,507 | ||||||||||
Change in Pension Plan assets | |||||||||||||
Fair value of Pension Plan assets, beginning of period | 16,798 | 14,540 | 13,663 | ||||||||||
Return on Pension Plan assets | 1,717 | 1,678 | 2,182 | ||||||||||
Employer contribution | 1,600 | 1,893 | 1,600 | ||||||||||
Benefits paid | (2,686 | ) | (1,313 | ) | (2,905 | ) | |||||||
Fair value of Pension Plan assets, end of period | 17,429 | 16,798 | 14,540 | ||||||||||
Underfunded status | $ | (3,009 | ) | $ | (1,324 | ) | $ | (3,967 | ) | ||||
Net actuarial loss | $ | (13,975 | ) | $ | (11,235 | ) | $ | (12,627 | ) | ||||
Income tax benefit | (4,891 | ) | (3,932 | ) | (4,419 | ) | |||||||
Accumulated other comprehensive loss impact | $ | (9,084 | ) | $ | (7,303 | ) | $ | (8,208 | ) | ||||
Schedule of Net Benefit Costs [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Interest cost | $ | 892 | $ | 848 | $ | 958 | |||||||
Expected return on plan assets | (1,076 | ) | (1,186 | ) | (1,133 | ) | |||||||
Amortization of net actuarial loss | 729 | 980 | 911 | ||||||||||
Net periodic pension expense | $ | 545 | $ | 642 | $ | 736 | |||||||
Schedule of Assumptions Used [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-average assumptions used in computing balance sheet liabilty: | |||||||||||||
Discount rate | 4.16 | % | 5.04 | % | 4.19 | % | |||||||
Expected long-term rate of return on Pension Plan assets | 6.3 | 8 | 8 | ||||||||||
Rate of increase in compensation levels | n/a | n/a | n/a | ||||||||||
Weighted-average assumptions used in computing net periodic benefit expense: | |||||||||||||
Discount rate | 5.04 | % | 4.19 | % | 5.02 | % | |||||||
Expected long-term rate of return on Pension Plan assets | 6.3 | 8 | 8 | ||||||||||
Rate of increase in compensation levels | n/a | n/a | n/a | ||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Cash and cash equivalents | $ | 902 | $ | 4,440 | |||||||||
U.S. government and agency securities | - | 549 | |||||||||||
Municipal securities | - | 470 | |||||||||||
Corporate bonds | - | 3,398 | |||||||||||
Mutual funds | 902 | 3,596 | |||||||||||
Corporate stocks | 1,085 | 3,329 | |||||||||||
Exchange traded funds | 14,351 | 287 | |||||||||||
Foreign equities | 182 | 694 | |||||||||||
Accrued interest receivable | - | 30 | |||||||||||
Other | 7 | 5 | |||||||||||
Total Pension Plan assets | $ | 17,429 | $ | 16,798 | |||||||||
Schedule of Defined Benefit Pension Plan Assets Fair Value Measured on Recurring Basis [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Level 1 | $ | 1,994 | $ | 7,804 | |||||||||
Level 2 | 15,435 | 8,994 | |||||||||||
Level 3 | - | - | |||||||||||
Total Pension Plan assets | $ | 17,429 | $ | 16,798 | |||||||||
Schedule of Expected Benefit Payments [Table Text Block] | For the years ended December 31, | ||||||||||||
2015 | $ | 1,002 | |||||||||||
2016 | 1,017 | ||||||||||||
2017 | 1,030 | ||||||||||||
2018 | 1,069 | ||||||||||||
2019 | 1,092 | ||||||||||||
2020-2024 | 5,711 |
Note_16_Equity_Based_Compensat1
Note 16 - Equity Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock options | Weighted- | ||||||||||||||||||||||||||
outstanding | average | |||||||||||||||||||||||||||
exercise price | ||||||||||||||||||||||||||||
Outstanding, December 31, 2011 | 18,703 | $ | 93.65 | |||||||||||||||||||||||||
Forfeited | (6,750 | ) | 94.98 | |||||||||||||||||||||||||
Outstanding, December 31, 2012 | 11,953 | 92.89 | ||||||||||||||||||||||||||
Expired | (5,503 | ) | 80 | |||||||||||||||||||||||||
Outstanding, December 31, 2013 | 6,450 | 103.89 | ||||||||||||||||||||||||||
Forfeited | (1,250 | ) | 109.2 | |||||||||||||||||||||||||
Expired | (2,250 | ) | 93.2 | |||||||||||||||||||||||||
Outstanding, December 31, 2014 | 2,950 | 109.8 | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Weighted-average exercise price | Number of stock options outstanding and exercisable | Weighted-average remaining contractual life (years) | |||||||||||||||||||||||||
$ | 106.4 | 250 | 0.05 | |||||||||||||||||||||||||
109.2 | 2,500 | 1.42 | ||||||||||||||||||||||||||
121.6 | 200 | 2.05 | ||||||||||||||||||||||||||
Total | 2,950 | 1.35 | ||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Shares of | Weighted- | ||||||||||||||||||||||||||
restricted | average | |||||||||||||||||||||||||||
stock | grant date | |||||||||||||||||||||||||||
fair value | ||||||||||||||||||||||||||||
per share | ||||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2011 | 31,696 | $ | 49.38 | |||||||||||||||||||||||||
Grants | 19,967 | 5.51 | ||||||||||||||||||||||||||
Forfeited | (350 | ) | 168 | |||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2012 | 51,313 | 31.5 | ||||||||||||||||||||||||||
Grants | 11,073 | 9.68 | ||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2013 | 62,386 | 27.63 | ||||||||||||||||||||||||||
Grants | - | - | ||||||||||||||||||||||||||
Granted, net of forfeitures, December 31, 2014 | 62,386 | 27.63 | ||||||||||||||||||||||||||
Remaining shares available for grant, December 31, 2013 and 2014 | 114 | |||||||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Unvested | Vested | Total | |||||||||||||||||||||||||
granted, net | ||||||||||||||||||||||||||||
of forfeitures | ||||||||||||||||||||||||||||
Balance, December 31, 2013 | 11,247 | 51,139 | 62,386 | |||||||||||||||||||||||||
Vested | (5,180 | ) | 5,180 | - | ||||||||||||||||||||||||
Balance, December 31, 2014 | 6,067 | 56,319 | 62,386 | |||||||||||||||||||||||||
Unvested | Vested | Total | ||||||||||||||||||||||||||
granted, net | ||||||||||||||||||||||||||||
of forfeitures | ||||||||||||||||||||||||||||
Balance, December 31, 2013 | 103,507 | 2,500 | 106,007 | |||||||||||||||||||||||||
Granted | 27,351 | - | 27,351 | |||||||||||||||||||||||||
Forfeited | (625 | ) | - | (625 | ) | |||||||||||||||||||||||
Vested | (37,399 | ) | 37,399 | - | ||||||||||||||||||||||||
Balance, December 31, 2014 | 92,834 | 39,899 | 132,733 | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | Total shares | Stock options outstanding | Weighted- | Shares of | Weighted- | |||||||||||||||||||||||
average | restricted stock | average grant | ||||||||||||||||||||||||||
exercise price | date fair value | |||||||||||||||||||||||||||
per share | per share | |||||||||||||||||||||||||||
2011 Grants | 473,002 | 383,251 | $ | 10.51 | 89,751 | $ | 10.48 | |||||||||||||||||||||
2012 Grants | 8,020 | - | - | 8,020 | 6.5 | |||||||||||||||||||||||
2013 Grants | 8,811 | - | - | 8,811 | 13.7 | |||||||||||||||||||||||
2013 Forfeitures | (575 | ) | - | - | (575 | ) | 13.95 | |||||||||||||||||||||
2013 Exercises | - | (11,250 | ) | 11 | - | - | ||||||||||||||||||||||
2014 Grants | 57,351 | 30,000 | 15.97 | 27,351 | 15.15 | |||||||||||||||||||||||
2014 Forfeitures | (625 | ) | - | - | (625 | ) | 6.5 | |||||||||||||||||||||
Granted, net of forfeitures, December 31, 2014 | 545,984 | 132,733 | ||||||||||||||||||||||||||
Outstanding, December 31, 2014 | 402,001 | 10.9 | ||||||||||||||||||||||||||
Total shares available for grant under the 2011 Plan | 700,000 | |||||||||||||||||||||||||||
Remaining shares available for grant, December 31, 2014 | 154,016 | |||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options outstanding | Options exercisable | ||||||||||||||||||||||||||
Weighted- | Number of | Weighted- | Value of | Number of | Weighted- | Value of | ||||||||||||||||||||||
average | stock options | average | outstanding in-the- | stock options | average | exercisable in-the- | ||||||||||||||||||||||
exercise | remaining | money stock | remaining | money stock | ||||||||||||||||||||||||
price | contractual life | options | contractual life | options | ||||||||||||||||||||||||
(years) | (years) | |||||||||||||||||||||||||||
$ | 10.4 | 312,501 | 6.38 | $ | 1,968,756 | 104,167 | 6.38 | $ | 656,252 | |||||||||||||||||||
11 | 59,500 | 6.54 | 339,150 | 19,833 | 6.54 | 113,048 | ||||||||||||||||||||||
12.96 | 4,000 | 9.14 | 14,960 | - | - | - | ||||||||||||||||||||||
16.43 | 26,000 | 9.96 | 7,020 | - | - | - | ||||||||||||||||||||||
Total | 402,001 | 6.66 | $ | 2,329,886 | 124,000 | 6.4 | $ | 769,300 | ||||||||||||||||||||
Schedule of Share-based Payment Award Restricted Stock Units Valuation Assumptions [Table Text Block] | Option exercise price, per share | $ | 15.97 | |||||||||||||||||||||||||
Fair value of stock option awards granted, per share | $ | 5.73 | ||||||||||||||||||||||||||
Expected dividend yield | 1.1 | % | ||||||||||||||||||||||||||
Expected volatility | 36 | |||||||||||||||||||||||||||
Risk-free interest rate | 2 | |||||||||||||||||||||||||||
Expected term (years) | 7 | |||||||||||||||||||||||||||
Vesting period (years) | 5 | |||||||||||||||||||||||||||
Share-based Compensation Expense Charged Against Pretax Loss Under Restricted Stock and Stock Option Award [Table Text Block] | For the years ended December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||
Compensation expense | ||||||||||||||||||||||||||||
1997 Plan | $ | - | $ | - | $ | - | ||||||||||||||||||||||
2008 Plan | 83 | 336 | 343 | |||||||||||||||||||||||||
2011 Plan | 690 | 822 | 766 | |||||||||||||||||||||||||
Total equity-based compensation expense | $ | 773 | $ | 1,158 | $ | 1,109 | ||||||||||||||||||||||
Income tax benefit | $ | 271 | $ | - | $ | - |
Note_17_Average_Share_Informat1
Note 17 - Average Share Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic net income (loss) per common share | |||||||||||||
Net income (loss) applicable to common shareholders | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Undistributed earnings allocated to participating securities | (61 | ) | (248 | ) | - | ||||||||
Net income (loss) allocated to common shareholders | $ | 9,294 | $ | 27,483 | $ | (1,864 | ) | ||||||
Weighted average basic common shares | 12,696,777 | 12,658,752 | 12,639,379 | ||||||||||
Basic net income (loss) per common share | $ | 0.73 | $ | 2.17 | $ | (0.15 | ) | ||||||
Diluted net income (loss) per common share | |||||||||||||
Net income (loss) applicable to common shareholders | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Undistributed earnings allocated to participating securities | (61 | ) | (248 | ) | - | ||||||||
Net income (loss) allocated to common shareholders | $ | 9,294 | $ | 27,483 | $ | (1,864 | ) | ||||||
Weighted average basic common shares | 12,696,777 | 12,658,752 | 12,639,379 | ||||||||||
Dilutive potential common shares (1) | 65,108 | - | - | ||||||||||
Weighted average diluted common shares | 12,761,885 | 12,658,752 | 12,639,379 | ||||||||||
Diluted net income (loss) per common share | $ | 0.73 | $ | 2.17 | $ | (0.15 | ) |
Note_18_Commitments_Guarantees1
Note 18 - Commitments, Guarantees and Other Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||
Schedule of Contractual Amounts of Unused Lending Commitments to Extend Credit [Table Text Block] | Commitments to extend credit: | ||||||||||||||||||||
Revolving, open-end loans secured by single-family residential properties | $ | 66,706 | |||||||||||||||||||
Commercial real estate, construction and land development loans secured by real estate | |||||||||||||||||||||
Single-family residential construction loans | 9,477 | ||||||||||||||||||||
Commercial real estate, other construction loans, and land development loans | 41,259 | ||||||||||||||||||||
Commercial and industrial loans | 36,464 | ||||||||||||||||||||
Overdraft protection loans | 30,414 | ||||||||||||||||||||
Other | 16,799 | ||||||||||||||||||||
Total commitments to extend credit | $ | 201,119 | |||||||||||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | Less | Over one through three years | Over three through five years | Over | Total | ||||||||||||||||
than one | five years | ||||||||||||||||||||
year | |||||||||||||||||||||
Real property operating lease obligations | $ | 1,733 | $ | 3,329 | $ | 3,347 | $ | 7,115 | $ | 15,524 | |||||||||||
Time deposit accounts | 124,154 | 37,130 | 9,605 | 31 | 170,920 | ||||||||||||||||
Contractually required interest payments on time deposits | 266 | 256 | 43 | - | 565 | ||||||||||||||||
Total | $ | 126,153 | $ | 40,715 | $ | 12,995 | $ | 7,146 | $ | 187,009 |
Note_20_Fair_Value_Measurement1
Note 20 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | 31-Dec-14 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Trading account assets | $ | 1,397 | $ | 4,116 | $ | - | $ | 5,513 | |||||||||
Investment securities available for sale | |||||||||||||||||
U.S. agency | - | 3,965 | - | 3,965 | |||||||||||||
State and municipal | 572 | 6,160 | - | 6,732 | |||||||||||||
Collateralized mortgage obligations (federal agencies) | - | 87,774 | - | 87,774 | |||||||||||||
Other mortgage-backed (federal agencies) | - | 78,503 | - | 78,503 | |||||||||||||
SBA loan-backed (federal agency) | 19,675 | 14,862 | - | 34,537 | |||||||||||||
Derivative financial instruments | - | 85 | - | 85 | |||||||||||||
Total assets measured at fair value on a recurring basis | $ | 21,644 | $ | 195,465 | $ | - | $ | 217,109 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments | $ | - | $ | 18 | $ | - | $ | 18 | |||||||||
31-Dec-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Trading account assets | $ | 1,347 | $ | 3,771 | $ | - | $ | 5,118 | |||||||||
Investment securities available for sale | |||||||||||||||||
State and municipal | - | 7,460 | - | 7,460 | |||||||||||||
Collateralized mortgage obligations (federal agencies) | - | 93,132 | - | 93,132 | |||||||||||||
Other mortgage-backed (federal agencies) | 1,188 | 74,832 | - | 76,020 | |||||||||||||
SBA loan-backed (federal agency) | 20,457 | 17,314 | - | 37,771 | |||||||||||||
Derivative financial instruments | - | 204 | - | 204 | |||||||||||||
Total assets measured at fair value on a recurring basis | $ | 22,992 | $ | 196,713 | $ | - | $ | 219,705 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments | $ | - | $ | 7 | $ | - | $ | 7 | |||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | 31-Dec-14 | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Mortgage loans held for sale | $ | - | $ | 1,125 | $ | - | $ | 1,125 | |||||||||
Impaired loans | - | 5,709 | - | 5,709 | |||||||||||||
Foreclosed real estate | 82 | - | 4,717 | 4,799 | |||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 82 | $ | 6,834 | $ | 4,717 | $ | 11,633 | |||||||||
31-Dec-13 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets | |||||||||||||||||
Mortgage loans held for sale | $ | - | $ | 1,722 | $ | - | $ | 1,722 | |||||||||
Impaired loans | - | 5,588 | 25 | 5,613 | |||||||||||||
Foreclosed real estate | 34 | 31 | 6,595 | 6,660 | |||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 34 | $ | 7,341 | $ | 6,620 | $ | 13,995 | |||||||||
Fair Value Assets Measured on Non Recurring Basis Unobservable Input Reconciliation [Table Text Block] | Fair value | Valuation | Significant | ||||||||||||||
technique | unobservable | ||||||||||||||||
inputs | |||||||||||||||||
Assets | |||||||||||||||||
Foreclosed real estate | $ | 4,717 | Appraisals of | Adjustments to appraisal for age of comparable sales | |||||||||||||
collateral value | |||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying | Fair | |||||||||||||||
amount | value | ||||||||||||||||
31-Dec-14 | |||||||||||||||||
Financial instruments - assets | |||||||||||||||||
Loans (1) | $ | 788,228 | $ | 788,334 | |||||||||||||
Financial instruments - liabilities | |||||||||||||||||
Deposits | 928,320 | 885,100 | |||||||||||||||
31-Dec-13 | |||||||||||||||||
Financial instruments - assets | |||||||||||||||||
Loans (1) | $ | 748,243 | $ | 748,330 | |||||||||||||
Financial instruments - liabilities | |||||||||||||||||
Deposits | 907,360 | 896,858 |
Note_21_Regulatory_Capital_Req1
Note 21 - Regulatory Capital Requirements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual | For capital adequacy | To be well capitalized under | ||||||||||||||||||||||
purposes | prompt corrective action | ||||||||||||||||||||||||
provisions | |||||||||||||||||||||||||
amount | ratio | amount | ratio | amount | ratio | ||||||||||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Company | $ | 143,519 | 16.26 | % | $ | 70,625 | 8 | % | n/a | n/a | |||||||||||||||
Bank | 143,363 | 16.24 | 70,622 | 8 | $ | 88,278 | 10 | % | |||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Company | 132,455 | 15 | 35,312 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 132,299 | 14.99 | 35,311 | 4 | 52,967 | 6 | |||||||||||||||||||
Tier 1 leverage ratio | |||||||||||||||||||||||||
Company | 132,455 | 12.15 | 43,613 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 132,299 | 12.13 | 43,611 | 4 | 54,514 | 5 | |||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Total capital to risk-weighted assets | |||||||||||||||||||||||||
Company | $ | 130,043 | 15.49 | % | $ | 67,142 | 8 | % | n/a | n/a | |||||||||||||||
Bank | 129,956 | 15.48 | 67,142 | 8 | $ | 83,928 | 10 | % | |||||||||||||||||
Tier 1 capital to risk-weighted assets | |||||||||||||||||||||||||
Company | 119,475 | 14.24 | 33,571 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 119,388 | 14.23 | 33,571 | 4 | 50,357 | 6 | |||||||||||||||||||
Tier 1 leverage ratio | |||||||||||||||||||||||||
Company | 119,475 | 11.03 | 43,309 | 4 | n/a | n/a | |||||||||||||||||||
Bank | 119,388 | 11.03 | 43,311 | 4 | 54,138 | 5 |
Note_22_Holding_Company_Conden1
Note 22 - Holding Company Condensed Financial Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheet [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 127 | $ | 87 | |||||||||
Deferred tax asset, net | 150 | 364 | |||||||||||
Investment in subsidiary | 132,738 | 123,366 | |||||||||||
Other assets | 29 | - | |||||||||||
Total assets | $ | 133,044 | $ | 123,817 | |||||||||
Liabilities and shareholders' equity | |||||||||||||
Shareholders' equity | $ | 133,044 | $ | 123,817 | |||||||||
Total liabilities and shareholders' equity | $ | 133,044 | $ | 123,817 | |||||||||
Condensed Income Statement [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Equity in undistributed income (loss) of subsidiary | $ | 9,848 | $ | 27,509 | $ | (1,738 | ) | ||||||
Other operating expense | 279 | 142 | 126 | ||||||||||
Net income (loss) before provision (benefit) for income taxes | 9,569 | 27,367 | (1,864 | ) | |||||||||
Provision (benefit) for income taxes | 214 | (364 | ) | - | |||||||||
Net income (loss) | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Condensed Cash Flow Statement [Table Text Block] | For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Operating Activities | |||||||||||||
Net income (loss) | $ | 9,355 | $ | 27,731 | $ | (1,864 | ) | ||||||
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities | |||||||||||||
Increase in equity in undistributed (income) loss of subsidiary | (8,208 | ) | (27,509 | ) | 1,738 | ||||||||
Deferred income tax expense (benefit) | 214 | (364 | ) | - | |||||||||
Increase in other assets | (29 | ) | - | - | |||||||||
Decrease in other liabilities | - | (23 | ) | (55 | ) | ||||||||
Net cash provided by (used for) operating activities | 1,332 | (165 | ) | (181 | ) | ||||||||
Investing Activities | |||||||||||||
Capital contribution in subsidiary | - | - | (650 | ) | |||||||||
Net cash used for investing activities | - | - | (650 | ) | |||||||||
Financing Activities | |||||||||||||
Dividends paid on common stock | (1,279 | ) | - | - | |||||||||
Taxes paid related to net share settlement of equity awards | (13 | ) | |||||||||||
Proceeds from exercise of stock options | - | 124 | - | ||||||||||
Net cash provided by (used for) financing activities | (1,292 | ) | 124 | - | |||||||||
Net change in cash and due from banks | 40 | (41 | ) | (831 | ) | ||||||||
Cash and due from banks, beginning of period | 87 | 128 | 959 | ||||||||||
Cash and due from banks, end of period | $ | 127 | $ | 87 | $ | 128 |
Note_23_Related_Party_Transact1
Note 23 - Related Party Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Loans and Leases Receivable, Related Parties [Table Text Block] | At and for the years ended December 31, | ||||||||
2014 | 2013 | ||||||||
Related party loans, beginning of period | $ | 1,758 | $ | 1,772 | |||||
Additions: | |||||||||
Loan originations | 30 | - | |||||||
Total additions | 30 | - | |||||||
Reductions: | |||||||||
Paydowns and payoffs | 66 | 14 | |||||||
Total reductions | 66 | 14 | |||||||
Related party loans, end of period | $ | 1,722 | $ | 1,758 |
Note_24_Quarterly_Financial_Da1
Note 24 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | For the year ended December 31, 2014 | ||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | Total | |||||||||||||||||
Interest income | $ | 10,076 | $ | 9,920 | $ | 9,871 | $ | 9,783 | $ | 39,650 | |||||||||||
Interest expense | 143 | 131 | 126 | 123 | 523 | ||||||||||||||||
Net interest income | 9,933 | 9,789 | 9,745 | 9,660 | 39,127 | ||||||||||||||||
Provision for loan losses | - | - | (500 | ) | (1,800 | ) | (2,300 | ) | |||||||||||||
Net interest income after provision for loan losses | 9,933 | 9,789 | 10,245 | 11,460 | 41,427 | ||||||||||||||||
Investment securities gains, net | 85 | - | - | 40 | 125 | ||||||||||||||||
Other noninterest income | 3,281 | 3,490 | 3,408 | 3,234 | 13,413 | ||||||||||||||||
Noninterest expense | 10,089 | 10,084 | 10,482 | 9,486 | 40,141 | ||||||||||||||||
Net income before provision for income taxes | 3,210 | 3,195 | 3,171 | 5,248 | 14,824 | ||||||||||||||||
Provision for income taxes | 1,182 | 1,168 | 1,189 | 1,930 | 5,469 | ||||||||||||||||
Net income | $ | 2,028 | $ | 2,027 | $ | 1,982 | $ | 3,318 | $ | 9,355 | |||||||||||
Common and per share data | |||||||||||||||||||||
Net income - basic | $ | 0.16 | $ | 0.16 | $ | 0.15 | $ | 0.26 | $ | 0.73 | |||||||||||
Net income - diluted | 0.16 | 0.16 | 0.15 | 0.26 | 0.73 | ||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
First quarter | Second quarter | Third quarter | Fourth quarter | Total | |||||||||||||||||
Interest income | $ | 10,864 | $ | 10,728 | $ | 10,523 | $ | 10,423 | $ | 42,538 | |||||||||||
Interest expense | 895 | 503 | 475 | 387 | 2,260 | ||||||||||||||||
Net interest income | 9,969 | 10,225 | 10,048 | 10,036 | 40,278 | ||||||||||||||||
Provision for loan losses | 350 | 670 | 645 | 1,800 | 3,465 | ||||||||||||||||
Net interest income after provision for loan losses | 9,619 | 9,555 | 9,403 | 8,236 | 36,813 | ||||||||||||||||
Investment securities gains (losses), net | - | 331 | (44 | ) | 23 | 310 | |||||||||||||||
Other noninterest income | 3,745 | 3,906 | 3,323 | 3,552 | 14,526 | ||||||||||||||||
Noninterest expense | 10,375 | 11,911 | 9,835 | 10,212 | 42,333 | ||||||||||||||||
Net income before provision (benefit) for income taxes | 2,989 | 1,881 | 2,847 | 1,599 | 9,316 | ||||||||||||||||
Provision (benefit) for income taxes | 813 | 382 | (19,386 | ) | (224 | ) | (18,415 | ) | |||||||||||||
Net income | $ | 2,176 | $ | 1,499 | $ | 22,233 | $ | 1,823 | $ | 27,731 | |||||||||||
Common and per share data | |||||||||||||||||||||
Net income - basic | $ | 0.17 | $ | 0.12 | $ | 1.74 | $ | 0.14 | $ | 2.17 | |||||||||||
Net income - diluted | 0.17 | 0.12 | 1.74 | 0.14 | 2.17 |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Number of Reportable Segments | 1 |
Death Benefit to Beneficiaries of BOLI Policy Holders (in Dollars) | $50 |
Building and Building Improvements [Member] | Minimum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 12 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 39 years |
Furniture and Equipment [Member] | Minimum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Furniture and Equipment [Member] | Maximum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 12 years |
Software 1 [Member] | Minimum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Software 1 [Member] | Maximum [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Bank Automobiles [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Note_2_Cash_and_Cash_Equivalen1
Note 2 - Cash and Cash Equivalents (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash and Cash Equivalents [Abstract] | ||
Lag Period for Maintenance of Federal Reserve | 30 days | |
Federal Reserve Required After Cash and Clearing Balance Requirements | $3,900,000 | |
Cash, Uninsured Amount | 0 | 0 |
Restricted Cash and Cash Equivalents | $250,000 | $706,000 |
Note_3_Trading_Account_Assets_1
Note 3 - Trading Account Assets (Details) (USD $) | 1 Months Ended | |
In Millions, unless otherwise specified | Jan. 31, 2015 | Dec. 31, 2014 |
Note 3 - Trading Account Assets (Details) [Line Items] | ||
Trading Securities, Cost | $5 | |
Subsequent Event [Member] | ||
Note 3 - Trading Account Assets (Details) [Line Items] | ||
Payments to Acquire Trading Securities Held-for-investment | $4.50 |
Note_3_Trading_Account_Assets_2
Note 3 - Trading Account Assets (Details) - Components of Trading Account Assets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Total trading account assets | $5,513 | $5,118 |
Trading, Municipal Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Municipal bonds | 4,116 | 3,771 |
Trading, Insured Bank Deposits [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Insured bank deposits | $1,397 | $1,347 |
Note_3_Trading_Account_Assets_3
Note 3 - Trading Account Assets (Details) - Net Realized and Change in Net Unrealized Gains on Trading Account Assets (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Net Realized and Change in Net Unrealized Gains on Trading Account Assets [Abstract] | ||
Realized gains, net | $480 | $139 |
Unrealized gains, net due to changes in fair value relative to assets held at end of period | 21 | 31 |
Total trading account income, net | $501 | $170 |
Note_3_Trading_Account_Assets_4
Note 3 - Trading Account Assets (Details) - Trading Accounts Credit Ratings (Trading, Municipal Bonds [Member], Credit Concentration Risk [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 100.00% |
Standard & Poor's, AAA Rating [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 26.00% |
Standard and Poor's AA+ - AA- [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 52.00% |
Standard and Poor's A+ - A- [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 14.00% |
Not Rated [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 8.00% |
Moody's, Aaa Rating [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 21.00% |
Moody's Aa1 - Aa3 [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 60.00% |
Moody's A1 - A3 [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 14.00% |
Not Rated [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
Trading accounts credit ratings | 5.00% |
Note_4_Investment_Securities_A
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | $212,832 | $219,203 |
Investment securities available for sale, gross unrealized gains | 753 | 521 |
Investment securities available for sale, gross unrealized losses | -2,074 | -5,341 |
Investment securities available for sale, fair value | 211,511 | 214,383 |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 3,930 | |
Investment securities available for sale, gross unrealized gains | 35 | |
Investment securities available for sale, fair value | 3,965 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 6,665 | 7,393 |
Investment securities available for sale, gross unrealized gains | 84 | 138 |
Investment securities available for sale, gross unrealized losses | -17 | -71 |
Investment securities available for sale, fair value | 6,732 | 7,460 |
Collateralized Mortgage Obligations (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 89,311 | 97,303 |
Investment securities available for sale, gross unrealized gains | 13 | 30 |
Investment securities available for sale, gross unrealized losses | -1,550 | -4,201 |
Investment securities available for sale, fair value | 87,774 | 93,132 |
Other Mortgage-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 78,532 | 76,852 |
Investment securities available for sale, gross unrealized gains | 411 | 95 |
Investment securities available for sale, gross unrealized losses | -440 | -927 |
Investment securities available for sale, fair value | 78,503 | 76,020 |
SBA Loan-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities [Line Items] | ||
Investment securities available for sale, amortized cost | 34,394 | 37,655 |
Investment securities available for sale, gross unrealized gains | 210 | 258 |
Investment securities available for sale, gross unrealized losses | -67 | -142 |
Investment securities available for sale, fair value | $34,537 | $37,771 |
Note_4_Investment_Securities_A1
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position [Line Items] | ||
Investment securities available for sale in an unrealized loss position less than 12 months, number of securities | 27 | 39 |
Investment securities available for sale in an unrealized loss position less than 12 months, fair value | $52,184 | $142,157 |
Investment securities available for sale in an unrealized loss position less than 12 months, gross unrealized losses | 328 | 3,781 |
Investment securities available for sale in an unrealized loss position 12 months or longer, number of securities | 27 | 13 |
Investment securities available for sale in an unrealized loss position 12 months or longer, fair value | 87,815 | 35,946 |
Investment securities available for sale in an unrealized loss position 12 months or longer, gross unrealized losses | 1,746 | 1,560 |
Investment securities available for sale in an unrealized loss position, number of securities | 54 | 52 |
Investment securities available for sale in an unrealized loss position, fair value | 139,999 | 178,103 |
Investment securities available for sale in an unrealized loss position, gross unrealized losses | 2,074 | 5,341 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position [Line Items] | ||
Investment securities available for sale in an unrealized loss position less than 12 months, number of securities | 3 | 1 |
Investment securities available for sale in an unrealized loss position less than 12 months, fair value | 1,641 | 1,010 |
Investment securities available for sale in an unrealized loss position less than 12 months, gross unrealized losses | 7 | 71 |
Investment securities available for sale in an unrealized loss position 12 months or longer, number of securities | 1 | |
Investment securities available for sale in an unrealized loss position 12 months or longer, fair value | 1,062 | |
Investment securities available for sale in an unrealized loss position 12 months or longer, gross unrealized losses | 10 | |
Investment securities available for sale in an unrealized loss position, number of securities | 4 | 1 |
Investment securities available for sale in an unrealized loss position, fair value | 2,703 | 1,010 |
Investment securities available for sale in an unrealized loss position, gross unrealized losses | 17 | 71 |
Collateralized Mortgage Obligations (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position [Line Items] | ||
Investment securities available for sale in an unrealized loss position less than 12 months, number of securities | 11 | 14 |
Investment securities available for sale in an unrealized loss position less than 12 months, fair value | 32,532 | 62,251 |
Investment securities available for sale in an unrealized loss position less than 12 months, gross unrealized losses | 192 | 2,863 |
Investment securities available for sale in an unrealized loss position 12 months or longer, number of securities | 10 | 9 |
Investment securities available for sale in an unrealized loss position 12 months or longer, fair value | 52,924 | 29,123 |
Investment securities available for sale in an unrealized loss position 12 months or longer, gross unrealized losses | 1,358 | 1,338 |
Investment securities available for sale in an unrealized loss position, number of securities | 21 | 23 |
Investment securities available for sale in an unrealized loss position, fair value | 85,456 | 91,374 |
Investment securities available for sale in an unrealized loss position, gross unrealized losses | 1,550 | 4,201 |
Other Mortgage-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position [Line Items] | ||
Investment securities available for sale in an unrealized loss position less than 12 months, number of securities | 10 | 20 |
Investment securities available for sale in an unrealized loss position less than 12 months, fair value | 14,889 | 64,428 |
Investment securities available for sale in an unrealized loss position less than 12 months, gross unrealized losses | 119 | 774 |
Investment securities available for sale in an unrealized loss position 12 months or longer, number of securities | 10 | 1 |
Investment securities available for sale in an unrealized loss position 12 months or longer, fair value | 18,979 | 1,517 |
Investment securities available for sale in an unrealized loss position 12 months or longer, gross unrealized losses | 321 | 153 |
Investment securities available for sale in an unrealized loss position, number of securities | 20 | 21 |
Investment securities available for sale in an unrealized loss position, fair value | 33,868 | 65,945 |
Investment securities available for sale in an unrealized loss position, gross unrealized losses | 440 | 927 |
SBA Loan-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Reconciliation of Available-for-sale Securities in Continuous Unrealized Loss Position [Line Items] | ||
Investment securities available for sale in an unrealized loss position less than 12 months, number of securities | 3 | 4 |
Investment securities available for sale in an unrealized loss position less than 12 months, fair value | 3,122 | 14,468 |
Investment securities available for sale in an unrealized loss position less than 12 months, gross unrealized losses | 10 | 73 |
Investment securities available for sale in an unrealized loss position 12 months or longer, number of securities | 6 | 3 |
Investment securities available for sale in an unrealized loss position 12 months or longer, fair value | 14,850 | 5,306 |
Investment securities available for sale in an unrealized loss position 12 months or longer, gross unrealized losses | 57 | 69 |
Investment securities available for sale in an unrealized loss position, number of securities | 9 | 7 |
Investment securities available for sale in an unrealized loss position, fair value | 17,972 | 19,774 |
Investment securities available for sale in an unrealized loss position, gross unrealized losses | $67 | $142 |
Note_4_Investment_Securities_A2
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale | Dec. 31, 2014 |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 100.00% |
Standard & Poor's, AAA Rating [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 17.00% |
Standard and Poor's AA+ - AA- [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 41.00% |
Not Rated [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 42.00% |
Moody's, Aaa Rating [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 7.00% |
Moody's Aa1 - Aa3 [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 56.00% |
Moody's A1-A2 [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 4.00% |
Not Rated [Member] | |
Note 4 - Investment Securities Available-for-sale (Details) - Ratings by Segment of Investment Securities Available for Sale [Line Items] | |
Credit Rating | 33.00% |
Note_4_Investment_Securities_A3
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due in one year or less, amortized cost | $2,305 | |
Investment securities available for sale, due in one year or less, fair value | 2,324 | |
Investment securities available for sale, due after one year through five years, amortized cost | 72,450 | |
Investment securities available for sale, due after one year through five years, fair value | 72,418 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 112,719 | |
Investment securities available for sale, due after five years through ten years, fair value | 111,348 | |
Investment securities available for sale, due after ten years, amortized cost | 25,358 | |
Investment securities available for sale, due after ten years, fair value | 25,421 | |
Investment securities available for sale, amortized cost | 212,832 | |
Investment securities available for sale, fair value | 211,511 | 214,383 |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due after one year through five years, amortized cost | 2,015 | |
Investment securities available for sale, due after one year through five years, fair value | 2,017 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 1,915 | |
Investment securities available for sale, due after five years through ten years, fair value | 1,948 | |
Investment securities available for sale, amortized cost | 3,930 | |
Investment securities available for sale, fair value | 3,965 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due in one year or less, amortized cost | 1,898 | |
Investment securities available for sale, due in one year or less, fair value | 1,917 | |
Investment securities available for sale, due after one year through five years, amortized cost | 2,050 | |
Investment securities available for sale, due after one year through five years, fair value | 2,115 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 2,717 | |
Investment securities available for sale, due after five years through ten years, fair value | 2,700 | |
Investment securities available for sale, amortized cost | 6,665 | |
Investment securities available for sale, fair value | 6,732 | 7,460 |
Collateralized Mortgage Obligations (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due in one year or less, amortized cost | 407 | |
Investment securities available for sale, due in one year or less, fair value | 407 | |
Investment securities available for sale, due after one year through five years, amortized cost | 11,227 | |
Investment securities available for sale, due after one year through five years, fair value | 11,041 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 77,677 | |
Investment securities available for sale, due after five years through ten years, fair value | 76,326 | |
Investment securities available for sale, amortized cost | 89,311 | |
Investment securities available for sale, fair value | 87,774 | 93,132 |
Other Mortgage-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due after one year through five years, amortized cost | 42,042 | |
Investment securities available for sale, due after one year through five years, fair value | 42,112 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 19,191 | |
Investment securities available for sale, due after five years through ten years, fair value | 19,158 | |
Investment securities available for sale, due after ten years, amortized cost | 17,299 | |
Investment securities available for sale, due after ten years, fair value | 17,233 | |
Investment securities available for sale, amortized cost | 78,532 | |
Investment securities available for sale, fair value | 78,503 | 76,020 |
SBA Loan-Backed (Federal Agencies) [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale [Line Items] | ||
Investment securities available for sale, due after one year through five years, amortized cost | 15,116 | |
Investment securities available for sale, due after one year through five years, fair value | 15,133 | |
Investment securities available for sale, due after five years through ten years, amortized cost | 11,219 | |
Investment securities available for sale, due after five years through ten years, fair value | 11,216 | |
Investment securities available for sale, due after ten years, amortized cost | 8,059 | |
Investment securities available for sale, due after ten years, fair value | 8,188 | |
Investment securities available for sale, amortized cost | 34,394 | |
Investment securities available for sale, fair value | $34,537 | $37,771 |
Note_4_Investment_Securities_A4
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral [Line Items] | ||
Investment securities available for sale pledged | $133,195 | $119,591 |
Municpal and Other Secured Deposit [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral [Line Items] | ||
Investment securities available for sale pledged | 84,255 | 75,718 |
Retail Purchase Agreements [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral [Line Items] | ||
Investment securities available for sale pledged | 36,629 | 25,626 |
Federal Reserve Line of Credit [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral [Line Items] | ||
Investment securities available for sale pledged | 1,352 | 1,459 |
Correspondent Banks Line of Credit [Member] | ||
Note 4 - Investment Securities Available-for-sale (Details) - Investment Securities Pledged as Collateral [Line Items] | ||
Investment securities available for sale pledged | $10,959 | $16,788 |
Note_4_Investment_Securities_A5
Note 4 - Investment Securities Available-for-sale (Details) - Gross Realized Gains and Losses From Sales Of Investment Securities Available For Sale (USD $) | 3 Months Ended | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Gross Realized Gains and Losses From Sales Of Investment Securities Available For Sale [Abstract] | ||||||||
Realized gains | $165 | $471 | $10,499 | |||||
Realized losses | -40 | -161 | -5 | |||||
Total investment securities gains, net | $40 | $85 | $23 | ($44) | $331 | $125 | $310 | $10,494 |
Note_5_Loans_Details
Note 5 - Loans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Deferred Income | $596,000 | $643,000 | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 1,300,000 | ||
Mortgage Loans Serviced for Benefit of Others | 375,100,000 | 384,500,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 478,000 | 757,000 | |
Financing Receivable Reclassified From Troubled Debt Restructuring | 8,615,000 | 7,077,000 | 6,018,000 |
Financing Receivable Reclassification from Impaired Status Recorded Investment | 7,100,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 1,500,000 | 1,600,000 | |
Impaired Financing Receivable, Average Recorded Investment | 41,600,000 | 44,700,000 | |
Federal Home Loan Bank Advances [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans Pledged as Collateral | 170,600,000 | 205,200,000 | |
Lendable Collateral | 79,100,000 | 90,200,000 | |
Federal Reserve Services [Member] | |||
Note 5 - Loans (Details) [Line Items] | |||
Loans Pledged as Collateral | 38,200,000 | 794,000 | |
Lendable Collateral | $27,800,000 | $651,000 |
Note_5_Loans_Details_Gross_Loa
Note 5 - Loans (Details) - Gross Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | $805,059 | $767,513 |
Percentage of loans, gross | 100.00% | 100.00% |
Commercial Real Estate Loans [Member] | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | 430,025 | 455,452 |
Percentage of loans, gross | 53.40% | 59.40% |
Single Family Residential [Member] | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | 204,439 | 178,125 |
Percentage of loans, gross | 25.40% | 23.20% |
Commercial and Industrial [Member] | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | 80,927 | 73,078 |
Percentage of loans, gross | 10.00% | 9.50% |
Consumer [Member] | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | 76,984 | 50,099 |
Percentage of loans, gross | 9.60% | 6.50% |
Other Financing Receivable [Member] | ||
Note 5 - Loans (Details) - Gross Loans [Line Items] | ||
Loans, gross | $12,684 | $10,759 |
Percentage of loans, gross | 1.60% | 1.40% |
Note_5_Loans_Details_Loans_Sec
Note 5 - Loans (Details) - Loans Secured by Commercial Real Estate (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Secured by commercial real estate | ||
Percentage of loans, gross | 100.00% | 100.00% |
Construction, Land Development and Other Land Loan [Member] | ||
Secured by commercial real estate | ||
Loans, gross (in Dollars) | 48,063 | |
Percentage of loans, gross | 6.00% | |
Percentage of Bank's total regulatory capital | 33.50% | |
Multi Family Residential [Member] | ||
Secured by commercial real estate | ||
Loans, gross (in Dollars) | 9,025 | |
Percentage of loans, gross | 1.10% | |
Percentage of Bank's total regulatory capital | 6.30% | |
Non Farm Nonresidential [Member] | ||
Secured by commercial real estate | ||
Loans, gross (in Dollars) | 372,937 | |
Percentage of loans, gross | 46.30% | |
Percentage of Bank's total regulatory capital | 260.20% | |
Commercial Real Estate Loans [Member] | ||
Secured by commercial real estate | ||
Loans, gross (in Dollars) | 430,025 | |
Percentage of loans, gross | 53.40% | 59.40% |
Percentage of Bank's total regulatory capital | 300.00% |
Note_5_Loans_Details_Loans_Sec1
Note 5 - Loans (Details) - Loans Secured by Commercial Real Estate by Category (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Secured by: | ||
Loans, gross (in Dollars) | $805,059 | $767,513 |
Percentage of loans, gross | 100.00% | 100.00% |
Development Commercial Real Estate Loans [Member] | Land Unimproved [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 15,636 | |
Percentage of loans, gross | 1.90% | |
Percentage of Bank's total regulatory capital | 10.90% | |
Development Commercial Real Estate Loans [Member] | Land Development Commercial [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 5,926 | |
Percentage of loans, gross | 0.70% | |
Percentage of Bank's total regulatory capital | 4.20% | |
Development Commercial Real Estate Loans [Member] | Land Development Residential [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 5,338 | |
Percentage of loans, gross | 0.70% | |
Percentage of Bank's total regulatory capital | 3.70% | |
Development Commercial Real Estate Loans [Member] | Commercial Construction Retail [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 3,167 | |
Percentage of loans, gross | 0.40% | |
Percentage of Bank's total regulatory capital | 2.20% | |
Development Commercial Real Estate Loans [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 30,067 | |
Percentage of loans, gross | 3.70% | |
Percentage of Bank's total regulatory capital | 21.00% | |
Existing And Other Commercial Real Estate Loans [Member] | Commercial Construction Retail [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 32,703 | |
Percentage of loans, gross | 4.10% | |
Percentage of Bank's total regulatory capital | 22.80% | |
Existing And Other Commercial Real Estate Loans [Member] | Hotel/Motel [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 40,384 | |
Percentage of loans, gross | 5.00% | |
Percentage of Bank's total regulatory capital | 28.20% | |
Existing And Other Commercial Real Estate Loans [Member] | Office Loan [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 26,804 | |
Percentage of loans, gross | 3.30% | |
Percentage of Bank's total regulatory capital | 18.70% | |
Existing And Other Commercial Real Estate Loans [Member] | Multi Family [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 9,025 | |
Percentage of loans, gross | 1.10% | |
Percentage of Bank's total regulatory capital | 6.30% | |
Existing And Other Commercial Real Estate Loans [Member] | Industrial And Warehouse [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 5,976 | |
Percentage of loans, gross | 0.80% | |
Percentage of Bank's total regulatory capital | 4.20% | |
Existing And Other Commercial Real Estate Loans [Member] | Health Care [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 13,183 | |
Percentage of loans, gross | 1.60% | |
Percentage of Bank's total regulatory capital | 9.20% | |
Existing And Other Commercial Real Estate Loans [Member] | Miscellaneous Commercial [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 102,115 | |
Percentage of loans, gross | 12.70% | |
Percentage of Bank's total regulatory capital | 71.20% | |
Existing And Other Commercial Real Estate Loans [Member] | Residential Construction Speculative [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 299 | |
Percentage of Bank's total regulatory capital | 0.20% | |
Existing And Other Commercial Real Estate Loans [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 230,489 | |
Percentage of loans, gross | 28.60% | |
Percentage of Bank's total regulatory capital | 160.80% | |
Commercial Real Estate Loans [Member] | Commercial Owner Occupied [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 151,774 | |
Percentage of loans, gross | 18.90% | |
Percentage of Bank's total regulatory capital | 105.90% | |
Commercial Real Estate Loans [Member] | Commercial Construction Owner Occupied [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 8,542 | |
Percentage of loans, gross | 1.10% | |
Percentage of Bank's total regulatory capital | 5.90% | |
Commercial Real Estate Loans [Member] | Residential Construction Contract [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 9,153 | |
Percentage of loans, gross | 1.10% | |
Percentage of Bank's total regulatory capital | 6.40% | |
Commercial Real Estate Loans [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | 169,469 | |
Percentage of loans, gross | 21.10% | |
Percentage of Bank's total regulatory capital | 118.20% | |
Commercial Real Estate Portfolio Segment [Member] | ||
Secured by: | ||
Loans, gross (in Dollars) | $430,025 | $455,452 |
Percentage of loans, gross | 53.40% | |
Percentage of Bank's total regulatory capital | 300.00% |
Note_5_Loans_Details_Internal_
Note 5 - Loans (Details) - Internal Credit Quality Indicators of Gross Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | $805,059 | $767,513 | ||
Construction, Land Development and Other Land Loan [Member] | Grade Three [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 3,337 | 10,025 | ||
Construction, Land Development and Other Land Loan [Member] | Grade Four [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 17,826 | 34,654 | ||
Construction, Land Development and Other Land Loan [Member] | Grade W [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 9,595 | 8,679 | ||
Construction, Land Development and Other Land Loan [Member] | Grade Five [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 138 | 2,202 | ||
Construction, Land Development and Other Land Loan [Member] | Grade Six [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 1,724 | 4,400 | ||
Construction, Land Development and Other Land Loan [Member] | Grade Seven [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 803 | |||
Construction, Land Development and Other Land Loan [Member] | Not Risk Rated [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 15,443 | [1] | 15,795 | [1] |
Construction, Land Development and Other Land Loan [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 48,063 | 76,558 | ||
Multi Family Residential [Member] | Grade Three [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 144 | 259 | ||
Multi Family Residential [Member] | Grade Four [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 1,191 | 887 | ||
Multi Family Residential [Member] | Grade W [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 7,690 | 9,079 | ||
Multi Family Residential [Member] | Grade Six [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 181 | |||
Multi Family Residential [Member] | Not Risk Rated [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | [1] | 11 | [1] | |
Multi Family Residential [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 9,025 | 10,417 | ||
Non Farm Nonresidential [Member] | Grade Three [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 74,966 | 69,954 | ||
Non Farm Nonresidential [Member] | Grade Four [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 183,829 | 171,585 | ||
Non Farm Nonresidential [Member] | Grade W [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 62,429 | 83,843 | ||
Non Farm Nonresidential [Member] | Grade Five [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 25,502 | 16,727 | ||
Non Farm Nonresidential [Member] | Grade Six [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 25,131 | 24,352 | ||
Non Farm Nonresidential [Member] | Grade Seven [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 1,051 | 1,604 | ||
Non Farm Nonresidential [Member] | Not Risk Rated [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 29 | [1] | 412 | [1] |
Non Farm Nonresidential [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 372,937 | 368,477 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade Three [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 78,447 | 80,238 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade Four [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 202,846 | 207,126 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade W [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 79,714 | 101,601 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade Five [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 25,640 | 18,929 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade Six [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 26,855 | 28,933 | ||
Commercial Real Estate Portfolio Segment [Member] | Grade Seven [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 1,051 | 2,407 | ||
Commercial Real Estate Portfolio Segment [Member] | Not Risk Rated [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 15,472 | [1] | 16,218 | [1] |
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 430,025 | 455,452 | ||
Commercial and Industrial [Member] | Grade One [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 753 | 879 | ||
Commercial and Industrial [Member] | Grade Two [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 1,534 | 1,186 | ||
Commercial and Industrial [Member] | Grade Three [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 12,864 | 8,830 | ||
Commercial and Industrial [Member] | Grade Four [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 53,171 | 51,167 | ||
Commercial and Industrial [Member] | Grade W [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 3,953 | 5,151 | ||
Commercial and Industrial [Member] | Grade Five [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 5,786 | 2,361 | ||
Commercial and Industrial [Member] | Grade Six [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 2,476 | 2,923 | ||
Commercial and Industrial [Member] | Grade Seven [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 339 | 494 | ||
Commercial and Industrial [Member] | Not Risk Rated [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | 51 | 87 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans, gross | $80,927 | $73,078 | ||
[1] | Consumer real estate loans, included within construction, land development and other land loans, are not risk rated in accordance with the Company's policy. |
Note_5_Loans_Details_Internal_1
Note 5 - Loans (Details) - Internal Credit Quality Indicators of Gross Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | $805,059 | $767,513 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 79,667 | 69,121 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 977 | 797 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 80,644 | 69,918 |
Single Family Residential Closed End First Lien [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 119,079 | 101,100 |
Single Family Residential Closed End First Lien [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 1,928 | 3,176 |
Single Family Residential Closed End First Lien [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 121,007 | 104,276 |
Single Family Residential Closed End Junior Lien [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 2,710 | 3,802 |
Single Family Residential Closed End Junior Lien [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 78 | 129 |
Single Family Residential Closed End Junior Lien [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 2,788 | 3,931 |
Single Family Residential [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 201,456 | 174,023 |
Single Family Residential [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 2,983 | 4,102 |
Single Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 204,439 | 178,125 |
Indirect Automobile [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 66,161 | 38,514 |
Indirect Automobile [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 116 | 210 |
Indirect Automobile [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 66,277 | 38,724 |
Consumer Other Financing Receivable [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 10,673 | 11,349 |
Consumer Other Financing Receivable [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 34 | 26 |
Consumer Other Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 10,707 | 11,375 |
Consumer [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 76,834 | 49,863 |
Consumer [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 150 | 236 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 76,984 | 50,099 |
All Other [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | 12,684 | 10,759 |
All Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, gross | $12,684 | $10,759 |
Note_5_Loans_Details_Delinquen
Note 5 - Loans (Details) - Delinquencies by Class (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | $3,885 | $3,202 |
Loans, greater than 90 days past due and still accruing | 238 | |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 12,463 | 15,108 |
Loans, past due | 16,586 | 18,310 |
Loans, current | 788,473 | 749,203 |
Loans, gross | 805,059 | 767,513 |
Construction, Land Development and Other Land Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 112 | 82 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 441 | 3,872 |
Loans, past due | 553 | 3,954 |
Loans, current | 47,510 | 72,604 |
Loans, gross | 48,063 | 76,558 |
Multi Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, greater than 90 days past due and not accruing (nonaccrual) | 181 | |
Loans, past due | 181 | |
Loans, current | 9,025 | 10,236 |
Loans, gross | 9,025 | 10,417 |
Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 2,102 | 1,199 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 8,174 | 4,832 |
Loans, past due | 10,276 | 6,031 |
Loans, current | 362,661 | 362,446 |
Loans, gross | 372,937 | 368,477 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 2,214 | 1,281 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 8,615 | 8,885 |
Loans, past due | 10,829 | 10,166 |
Loans, current | 419,196 | 445,286 |
Loans, gross | 430,025 | 455,452 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 151 | 148 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 977 | 797 |
Loans, past due | 1,128 | 945 |
Loans, current | 79,516 | 68,973 |
Loans, gross | 80,644 | 69,918 |
Single Family Residential Closed End First Lien [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 827 | 1,091 |
Loans, greater than 90 days past due and still accruing | 238 | |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 1,928 | 3,176 |
Loans, past due | 2,993 | 4,267 |
Loans, current | 118,014 | 100,009 |
Loans, gross | 121,007 | 104,276 |
Single Family Residential Closed End Junior Lien [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 16 | 41 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 78 | 129 |
Loans, past due | 94 | 170 |
Loans, current | 2,694 | 3,761 |
Loans, gross | 2,788 | 3,931 |
Single Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 994 | 1,280 |
Loans, greater than 90 days past due and still accruing | 238 | |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 2,983 | 4,102 |
Loans, past due | 4,215 | 5,382 |
Loans, current | 200,224 | 172,743 |
Loans, gross | 204,439 | 178,125 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 361 | 306 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 715 | 1,885 |
Loans, past due | 1,076 | 2,191 |
Loans, current | 79,851 | 70,887 |
Loans, gross | 80,927 | 73,078 |
Indirect Automobile [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 283 | 294 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 116 | 210 |
Loans, past due | 399 | 504 |
Loans, current | 65,878 | 38,220 |
Loans, gross | 66,277 | 38,724 |
Consumer Other Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 33 | 41 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 34 | 26 |
Loans, past due | 67 | 67 |
Loans, current | 10,640 | 11,308 |
Loans, gross | 10,707 | 11,375 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-89 days past due and still accruing | 316 | 335 |
Loans, greater than 90 days past due and not accruing (nonaccrual) | 150 | 236 |
Loans, past due | 466 | 571 |
Loans, current | 76,518 | 49,528 |
Loans, gross | 76,984 | 50,099 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current | 6,032 | 3,394 |
Loans, gross | 6,032 | 3,394 |
Obligations Of States And Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current | 416 | 497 |
Loans, gross | 416 | 497 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current | 6,236 | 6,868 |
Loans, gross | 6,236 | 6,868 |
All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current | 12,684 | 10,759 |
Loans, gross | $12,684 | $10,759 |
Note_5_Loans_Details_Compositi
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans [Line Items] | ||
Troubled debt restructurings | $19,871 | $28,928 |
Impaired loans | 31,562 | 44,695 |
Accrual Status [Member] | ||
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans [Line Items] | ||
Troubled debt restructurings | 15,585 | 26,744 |
Impaired loans | 15,585 | 26,744 |
Nonaccrual Status [Member] | ||
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans [Line Items] | ||
Troubled debt restructurings | 4,286 | 2,184 |
Impaired loans | 4,286 | 2,184 |
Accrual Other Loans [Member] | ||
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans [Line Items] | ||
Impaired loans | 7,955 | 9,187 |
Nonaccrual Other Loans [Member] | ||
Note 5 - Loans (Details) - Composition of Troubled Debt Restructurings Impaired Loans [Line Items] | ||
Impaired loans | $3,736 | $6,580 |
Note_5_Loans_Details_Troubled_
Note 5 - Loans (Details) - Troubled Debt Restructurings Removed from Classification (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Troubled Debt Restructurings Removed from Classification [Abstract] | |||
Carrying balance | $8,615 | $7,077 | $6,018 |
Count | 7 | 14 | 19 |
Note_5_Loans_Details_Loans_Mod
Note 5 - Loans (Details) - Loans Modified (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 4 | 6 | 16 |
Troubled debt restructurings, pre-modification outstanding recorded investment | $3,548 | $4,666 | $7,615 |
Troubled debt restructurings, post-modification outstanding recorded investment | 2,248 | 4,666 | 7,610 |
Construction, Land Development and Other Land Loan [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 1 | 1 | |
Troubled debt restructurings, pre-modification outstanding recorded investment | 60 | 4,089 | |
Troubled debt restructurings, post-modification outstanding recorded investment | 60 | 4,089 | |
Non Farm Nonresidential [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 1 | 4 | 8 |
Troubled debt restructurings, pre-modification outstanding recorded investment | 883 | 4,364 | 2,305 |
Troubled debt restructurings, post-modification outstanding recorded investment | 883 | 4,364 | 2,305 |
Commercial Real Estate Loans [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 1 | 5 | 9 |
Troubled debt restructurings, pre-modification outstanding recorded investment | 883 | 4,424 | 6,394 |
Troubled debt restructurings, post-modification outstanding recorded investment | 883 | 4,424 | 6,394 |
Single Family Real Estate [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 4 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 715 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 715 | ||
Commercial and Industrial [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 3 | 1 | 3 |
Troubled debt restructurings, pre-modification outstanding recorded investment | 2,665 | 242 | 506 |
Troubled debt restructurings, post-modification outstanding recorded investment | 1,365 | 242 | 501 |
Rate Concessions [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 1 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 60 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 60 | ||
Term Concessions [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 1 | 5 | 6 |
Troubled debt restructurings, pre-modification outstanding recorded investment | 883 | 4,606 | 5,047 |
Troubled debt restructurings, post-modification outstanding recorded investment | 883 | 4,606 | 5,047 |
Term,Term and Principal Concession [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 3 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 2,665 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 1,365 | ||
Rate and Term Concessions [Member] | |||
Note 5 - Loans (Details) - Loans Modified [Line Items] | |||
Troubled debt restructurings, number of loans | 10 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 2,568 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | $2,563 |
Note_5_Loans_Details_Troubled_1
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 4 | 3 | 4 |
Troubled debt restructurings with payment default, recorded investment | $3,083 | $587 | $2,415 |
Construction, Land Development and Other Land Loan [Member] | |||
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 1 | ||
Troubled debt restructurings with payment default, recorded investment | 56 | ||
Non Farm Nonresidential [Member] | |||
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 2 | 2 | |
Troubled debt restructurings with payment default, recorded investment | 2,597 | 2,122 | |
Commercial Real Estate Loans [Member] | |||
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 2 | 1 | 2 |
Troubled debt restructurings with payment default, recorded investment | 2,597 | 56 | 2,122 |
Single Family Residential [Member] | |||
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 1 | 2 | |
Troubled debt restructurings with payment default, recorded investment | 404 | 293 | |
Commercial and Industrial [Member] | |||
Note 5 - Loans (Details) - Troubled Debt Restructurings with Subsequent Payment Default [Line Items] | |||
Troubled debt restructurings with payment default, number of loans | 2 | 1 | |
Troubled debt restructurings with payment default, recorded investment | $486 | $127 |
Note_5_Loans_Details_Compositi1
Note 5 - Loans (Details) - Composition of Impaired Loans by Class (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | $20,426 | $22,968 |
Impaired loans with no related allowance, unpaid principal balance | 27,175 | 38,132 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 11,136 | 21,727 |
Impaired loans with related allowance, unpaid principal balance | 12,971 | 23,027 |
Impaired loans, related allowance | 1,737 | 2,555 |
Total: | ||
Impaired loans, recorded investment | 31,562 | 44,695 |
Impaired loans, unpaid principal balance | 40,146 | 61,159 |
Impaired loans, related allowance | 1,737 | 2,555 |
Construction, Land Development and Other Land Loan [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 283 | 3,244 |
Impaired loans with no related allowance, unpaid principal balance | 805 | 6,503 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 6 | 260 |
Impaired loans with related allowance, unpaid principal balance | 6 | 260 |
Impaired loans, related allowance | 68 | |
Total: | ||
Impaired loans, recorded investment | 289 | 3,504 |
Impaired loans, unpaid principal balance | 811 | 6,763 |
Impaired loans, related allowance | 68 | |
Multi Family Residential [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 181 | |
Impaired loans with no related allowance, unpaid principal balance | 239 | |
Total: | ||
Impaired loans, recorded investment | 181 | |
Impaired loans, unpaid principal balance | 239 | |
Non Farm Nonresidential [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 18,534 | 17,414 |
Impaired loans with no related allowance, unpaid principal balance | 23,055 | 24,422 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 10,186 | 18,839 |
Impaired loans with related allowance, unpaid principal balance | 12,021 | 18,839 |
Impaired loans, related allowance | 1,555 | 1,668 |
Total: | ||
Impaired loans, recorded investment | 28,720 | 36,253 |
Impaired loans, unpaid principal balance | 35,076 | 43,261 |
Impaired loans, related allowance | 1,555 | 1,668 |
Commercial Real Estate Loans [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 18,817 | 20,839 |
Impaired loans with no related allowance, unpaid principal balance | 23,860 | 31,164 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 10,192 | 19,099 |
Impaired loans with related allowance, unpaid principal balance | 12,027 | 19,099 |
Impaired loans, related allowance | 1,555 | 1,736 |
Total: | ||
Impaired loans, recorded investment | 29,009 | 39,938 |
Impaired loans, unpaid principal balance | 35,887 | 50,263 |
Impaired loans, related allowance | 1,555 | 1,736 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 333 | |
Impaired loans with no related allowance, unpaid principal balance | 333 | |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 404 | |
Impaired loans with related allowance, unpaid principal balance | 404 | |
Impaired loans, related allowance | 83 | |
Total: | ||
Impaired loans, recorded investment | 333 | 404 |
Impaired loans, unpaid principal balance | 333 | 404 |
Impaired loans, related allowance | 83 | |
Single Family Residential Closed End First Lien [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 645 | 1,369 |
Impaired loans with no related allowance, unpaid principal balance | 750 | 5,811 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 208 | 323 |
Impaired loans with related allowance, unpaid principal balance | 208 | 323 |
Impaired loans, related allowance | 24 | 18 |
Total: | ||
Impaired loans, recorded investment | 853 | 1,692 |
Impaired loans, unpaid principal balance | 958 | 6,134 |
Impaired loans, related allowance | 24 | 18 |
Single Family Residential Closed End Junior Lien [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 24 | |
Impaired loans with no related allowance, unpaid principal balance | 24 | |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 106 | 195 |
Impaired loans with related allowance, unpaid principal balance | 106 | 195 |
Impaired loans, related allowance | 41 | 62 |
Total: | ||
Impaired loans, recorded investment | 130 | 195 |
Impaired loans, unpaid principal balance | 130 | 195 |
Impaired loans, related allowance | 41 | 62 |
Single Family Residential [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 1,002 | 1,369 |
Impaired loans with no related allowance, unpaid principal balance | 1,107 | 5,811 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 314 | 922 |
Impaired loans with related allowance, unpaid principal balance | 314 | 922 |
Impaired loans, related allowance | 65 | 163 |
Total: | ||
Impaired loans, recorded investment | 1,316 | 2,291 |
Impaired loans, unpaid principal balance | 1,421 | 6,733 |
Impaired loans, related allowance | 65 | 163 |
Commercial and Industrial [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 607 | 753 |
Impaired loans with no related allowance, unpaid principal balance | 2,208 | 1,150 |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 616 | 1,680 |
Impaired loans with related allowance, unpaid principal balance | 616 | 2,980 |
Impaired loans, related allowance | 115 | 644 |
Total: | ||
Impaired loans, recorded investment | 1,223 | 2,433 |
Impaired loans, unpaid principal balance | 2,824 | 4,130 |
Impaired loans, related allowance | 115 | 644 |
Consumer [Member] | ||
With no related allowance recorded: | ||
Impaired loans with no related allowance, recorded investment | 7 | |
Impaired loans with no related allowance, unpaid principal balance | 7 | |
With an allowance recorded: | ||
Impaired loans with related allowance, recorded investment | 14 | 26 |
Impaired loans with related allowance, unpaid principal balance | 14 | 26 |
Impaired loans, related allowance | 2 | 12 |
Total: | ||
Impaired loans, recorded investment | 14 | 33 |
Impaired loans, unpaid principal balance | 14 | 33 |
Impaired loans, related allowance | $2 | $12 |
Note_5_Loans_Details_Allowance
Note 5 - Loans (Details) - Allowance for Loan Losses (USD $) | 3 Months Ended | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | $17,825 | $16,485 | $17,825 | ||||||
Provision for loan losses | -1,800 | -500 | 1,800 | 645 | 670 | 350 | -2,300 | 3,465 | 13,075 |
Loan charge-offs | 3,089 | 5,891 | |||||||
Loan recoveries | -1,824 | -1,086 | |||||||
Net loans charged-off | 1,265 | 4,805 | |||||||
Allowance for loan losses, end of period | 12,920 | 16,485 | 12,920 | 16,485 | 17,825 | ||||
Allowance for loan losses, individually evaluated for impairment | 1,737 | 2,555 | 1,737 | 2,555 | |||||
Allowance for loan losses, collectively evaluated for impairment | 11,183 | 13,930 | 11,183 | 13,930 | |||||
Loans, gross, individually evaluated for impairment | 31,562 | 44,695 | 31,562 | 44,695 | |||||
Loans, gross, collectively evaluated for impairment | 773,497 | 722,818 | 773,497 | 722,818 | |||||
Loans, gross | 805,059 | 767,513 | 805,059 | 767,513 | |||||
Commercial Real Estate Loans [Member] | |||||||||
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | 12,317 | 10,565 | 12,317 | ||||||
Provision for loan losses | -2,506 | -263 | |||||||
Loan charge-offs | 1,082 | 1,780 | |||||||
Loan recoveries | -396 | -291 | |||||||
Net loans charged-off | 686 | 1,489 | |||||||
Allowance for loan losses, end of period | 7,373 | 10,565 | 7,373 | 10,565 | |||||
Allowance for loan losses, individually evaluated for impairment | 1,555 | 1,736 | 1,555 | 1,736 | |||||
Allowance for loan losses, collectively evaluated for impairment | 5,818 | 8,829 | 5,818 | 8,829 | |||||
Loans, gross, individually evaluated for impairment | 29,009 | 39,938 | 29,009 | 39,938 | |||||
Loans, gross, collectively evaluated for impairment | 401,016 | 415,514 | 401,016 | 415,514 | |||||
Loans, gross | 430,025 | 455,452 | 430,025 | 455,452 | |||||
Single Family Residential [Member] | |||||||||
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | 3,140 | 3,124 | 3,140 | ||||||
Provision for loan losses | -553 | 580 | |||||||
Loan charge-offs | 697 | 731 | |||||||
Loan recoveries | -982 | -135 | |||||||
Net loans charged-off | -285 | 596 | |||||||
Allowance for loan losses, end of period | 2,856 | 3,124 | 2,856 | 3,124 | |||||
Allowance for loan losses, individually evaluated for impairment | 65 | 163 | 65 | 163 | |||||
Allowance for loan losses, collectively evaluated for impairment | 2,791 | 2,961 | 2,791 | 2,961 | |||||
Loans, gross, individually evaluated for impairment | 1,316 | 2,291 | 1,316 | 2,291 | |||||
Loans, gross, collectively evaluated for impairment | 203,123 | 175,834 | 203,123 | 175,834 | |||||
Loans, gross | 204,439 | 178,125 | 204,439 | 178,125 | |||||
Commercial and Industrial [Member] | |||||||||
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | 1,264 | 1,682 | 1,264 | ||||||
Provision for loan losses | -152 | 2,697 | |||||||
Loan charge-offs | 530 | 2,426 | |||||||
Loan recoveries | -47 | -147 | |||||||
Net loans charged-off | 483 | 2,279 | |||||||
Allowance for loan losses, end of period | 1,047 | 1,682 | 1,047 | 1,682 | |||||
Allowance for loan losses, individually evaluated for impairment | 115 | 644 | 115 | 644 | |||||
Allowance for loan losses, collectively evaluated for impairment | 932 | 1,038 | 932 | 1,038 | |||||
Loans, gross, individually evaluated for impairment | 1,223 | 2,433 | 1,223 | 2,433 | |||||
Loans, gross, collectively evaluated for impairment | 79,704 | 70,645 | 79,704 | 70,645 | |||||
Loans, gross | 80,927 | 73,078 | 80,927 | 73,078 | |||||
Consumer [Member] | |||||||||
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | 1,093 | 1,118 | 1,093 | ||||||
Provision for loan losses | 362 | 172 | |||||||
Loan charge-offs | 225 | 285 | |||||||
Loan recoveries | -83 | -138 | |||||||
Net loans charged-off | 142 | 147 | |||||||
Allowance for loan losses, end of period | 1,338 | 1,118 | 1,338 | 1,118 | |||||
Allowance for loan losses, individually evaluated for impairment | 2 | 12 | 2 | 12 | |||||
Allowance for loan losses, collectively evaluated for impairment | 1,336 | 1,106 | 1,336 | 1,106 | |||||
Loans, gross, individually evaluated for impairment | 14 | 33 | 14 | 33 | |||||
Loans, gross, collectively evaluated for impairment | 76,970 | 50,066 | 76,970 | 50,066 | |||||
Loans, gross | 76,984 | 50,099 | 76,984 | 50,099 | |||||
All Other [Member] | |||||||||
Note 5 - Loans (Details) - Allowance for Loan Losses [Line Items] | |||||||||
Allowance for loan losses, beginning of period | 11 | -4 | 11 | ||||||
Provision for loan losses | 549 | 279 | |||||||
Loan charge-offs | 555 | 669 | |||||||
Loan recoveries | -316 | -375 | |||||||
Net loans charged-off | 239 | 294 | |||||||
Allowance for loan losses, end of period | 306 | -4 | 306 | -4 | |||||
Allowance for loan losses, collectively evaluated for impairment | 306 | -4 | 306 | -4 | |||||
Loans, gross, collectively evaluated for impairment | 12,684 | 10,759 | 12,684 | 10,759 | |||||
Loans, gross | $12,684 | $10,759 | $12,684 | $10,759 |
Note_6_Other_Loans_Held_for_Sa2
Note 6 - Other Loans Held for Sale and Valuation Allowance (Details) - Other Loans Held for Sale and Valuation Allowance (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Note 6 - Other Loans Held for Sale and Valuation Allowance (Details) - Other Loans Held for Sale and Valuation Allowance [Line Items] | |||
Proceeds from sales of other loans held for sale | ($1,102) | ($13,922) | |
Valuation allowance, beginning of period | 1,512 | ||
Reduction resulting from sales of other loans held for sale | -1,512 | ||
SBA Loans [Member] | Gross [Member] | |||
Note 6 - Other Loans Held for Sale and Valuation Allowance (Details) - Other Loans Held for Sale and Valuation Allowance [Line Items] | |||
SBA loans transferred to other loans held for sale | 2,015 | 1,166 | |
Proceeds from sales of SBA loans | -2,222 | -1,236 | |
Gain on sale of SBA loans | 207 | 70 | |
Gross [Member] | |||
Note 6 - Other Loans Held for Sale and Valuation Allowance (Details) - Other Loans Held for Sale and Valuation Allowance [Line Items] | |||
Other loans held for sale, net of valuation allowance, beginning of period | 776 | ||
Proceeds from sales of other loans held for sale | -1,102 | ||
Gain on sale of other loans held for sale | 326 | ||
Other loans held for sale activity, net | ($776) |
Note_7_Premises_and_Equipment_2
Note 7 - Premises and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Number of Commercial and Consumer Banking Branches | 25 | ||
Number of Leased Branches | 5 | ||
Number of Owned Branches | 20 | ||
Depreciation | $2,364 | $2,581 | $2,529 |
Note_7_Premises_and_Equipment_3
Note 7 - Premises and Equipment, Net (Details) - Premises and Equipment Balances (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | $48,444 | $48,756 |
Accumulated depreciation | -26,438 | -25,389 |
Premises and equipment, net | 22,006 | 23,367 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 5,521 | 5,521 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 19,539 | 19,395 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 13,395 | 13,259 |
Software and Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 5,556 | 5,344 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 3,782 | 3,746 |
Assets Held under Capital Leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 557 | 1,396 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | $94 | $95 |
Note_8_Servicing_Rights_Detail
Note 8 - Servicing Rights (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Mortgage Servicing Rights [Member] | ||
Note 8 - Servicing Rights (Details) [Line Items] | ||
Servicing Asset at Fair Value, Amount | $3,400 | $3,800 |
SBA Servicing Rights [Member] | ||
Note 8 - Servicing Rights (Details) [Line Items] | ||
Servicing Asset at Fair Value, Amount | $84 | $69 |
Note_8_Servicing_Rights_Detail1
Note 8 - Servicing Rights (Details) - Servicing Rights Activity (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage Servicing Rights [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Servicing rights portfolio, net of valuation allowance, beginning of period | $2,431 | $2,584 | $2,586 |
Servicing rights portfolio, net of valuation allowance, end of period | 2,248 | 2,431 | 2,584 |
Capitalized servicing rights | 390 | 612 | 864 |
Servicing rights portfolio amortization and impairment | -573 | -765 | -866 |
SBA Servicing Rights [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Servicing rights portfolio, net of valuation allowance, beginning of period | 64 | 39 | |
Servicing rights portfolio, net of valuation allowance, end of period | 77 | 64 | 39 |
Capitalized servicing rights | 31 | 47 | 40 |
Servicing rights portfolio amortization and impairment | ($18) | ($22) | ($1) |
Note_8_Servicing_Rights_Detail2
Note 8 - Servicing Rights (Details) - Valuation Allowance for Impairment of Servicing Rights (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage Servicing Rights [Member] | |||
Valuation Allowance for Impairment of Recognized Servicing Assets [Line Items] | |||
Valuation allowance, beginning of period | $31 | $41 | $39 |
Additions charged (reductions credited) to operations, net | -10 | -10 | 2 |
Valuation allowance, end of period | 21 | 31 | 41 |
SBA Servicing Rights [Member] | |||
Valuation Allowance for Impairment of Recognized Servicing Assets [Line Items] | |||
Valuation allowance, beginning of period | 8 | ||
Additions charged (reductions credited) to operations, net | 4 | 8 | |
Valuation allowance, end of period | $12 | $8 |
Note_8_Servicing_Rights_Detail3
Note 8 - Servicing Rights (Details) - Estimated Future Amortization Expense of Servicing Rights (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Mortgage Servicing Rights [Member] | |
Note 8 - Servicing Rights (Details) - Estimated Future Amortization Expense of Servicing Rights [Line Items] | |
Amoritization expense, next twelve months | $661 |
Amoritization expense, year two | 531 |
Amoritization expense, year three | 423 |
Amoritization expense, year four | 333 |
Amoritization expense, year five | 260 |
Amoritization expense, after year five | 61 |
Amoritization expense | 2,269 |
SBA Servicing Rights [Member] | |
Note 8 - Servicing Rights (Details) - Estimated Future Amortization Expense of Servicing Rights [Line Items] | |
Amoritization expense, next twelve months | 14 |
Amoritization expense, year two | 12 |
Amoritization expense, year three | 11 |
Amoritization expense, year four | 10 |
Amoritization expense, year five | 8 |
Amoritization expense, after year five | 34 |
Amoritization expense | $89 |
Note_9_Foreclosed_Real_Estate_2
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) [Line Items] | ||||
Real Estate Acquired Through Foreclosure (in Dollars) | $5,949 | $7,502 | $10,911 | $27,663 |
Residential Lots [Member] | ||||
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) [Line Items] | ||||
Number of Units in Real Estate Property | 56 | |||
Real Estate Acquired Through Foreclosure (in Dollars) | 4,700 | |||
Number of Real Estate Properties | 1 | |||
Lots for Sale [Member] | ||||
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) [Line Items] | ||||
Number of Units in Real Estate Property | 2 | |||
Real Estate Held-for-sale (in Dollars) | $405 |
Note_9_Foreclosed_Real_Estate_3
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) - Foreclosed Real Estate and Repossessed Personal Property (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Foreclosed Real Estate And Repossessed Personal Property [Abstract] | ||||
Foreclosed real estate | $5,949 | $7,502 | $10,911 | $27,663 |
Repossessed personal property | 35 | 43 | ||
Total foreclosed real estate and repossessed personal property | $5,984 | $7,545 |
Note_9_Foreclosed_Real_Estate_4
Note 9 - Foreclosed Real Estate and Repossessed Personal Property (Details) - Changes in Foreclosed Real Estate Portfolio (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Changes in Foreclosed Real Estate Portfolio [Abstract] | |||
Foreclosed real estate, beginning of period | $7,502 | $10,911 | $27,663 |
Plus: new foreclosed real estate | 2,312 | 2,541 | 5,389 |
Less: proceeds from sale of foreclosed real estate | -2,521 | -2,973 | -13,524 |
Plus: gain on sale of foreclosed real estate | 386 | 142 | 729 |
Less: writedowns and losses charged to expense | -1,730 | -3,119 | -9,346 |
Foreclosed real estate, end of period | $5,949 | $7,502 | $10,911 |
Note_10_BankOwned_Life_Insuran1
Note 10 - Bank-Owned Life Insurance (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 10 - Bank-Owned Life Insurance (Details) [Line Items] | ||
Number of Life Insurance Policies | 2 | |
Death Benefit to Beneficiaries of BOLI Policy Holders | $50,000 | |
Life Insurance Premum | 5,000,000 | |
Cash Surrender Value of Life Insurance | 10,400,000 | 10,000,000 |
Former Executive Management [Member] | ||
Note 10 - Bank-Owned Life Insurance (Details) [Line Items] | ||
Cash Surrender Value of Life Insurance | $1,600,000 | $1,600,000 |
Note_11_Deposits_Details
Note 11 - Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Disclosure Text Block [Abstract] | ||
Deposit Liabilities Reclassified as Loans Receivable | $531,000 | $564,000 |
Time Deposits that Meet or Exceed FDIC Insurance Limits | 17,600,000 | 22,200,000 |
Cash, FDIC Insured Amount | $250,000 |
Note_11_Deposits_Details_Compo
Note 11 - Deposits (Details) - Composition of Deposits (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Composition of Deposits [Abstract] | ||
Transaction deposits | $528,633 | $494,289 |
Money market deposits | 138,449 | 136,476 |
Savings deposits | 90,318 | 79,760 |
Time deposits $100,000 and greater | 67,419 | 79,654 |
Time deposits less than $100,000 | 103,501 | 117,181 |
Total deposits | $928,320 | $907,360 |
Note_11_Deposits_Details_Matur
Note 11 - Deposits (Details) - Maturity Distribution of Time Deposit Accounts (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Maturity Distribution of Time Deposit Accounts [Abstract] | |
2015 | $124,154 |
2016 | 24,321 |
2017 | 12,809 |
2018 | 7,262 |
2019 | 2,343 |
Thereafter | 31 |
$170,920 |
Note_11_Deposits_Details_Jumbo
Note 11 - Deposits (Details) - Jumbo Time Deposit Accounts by Maturity (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Jumbo Time Deposit Accounts by Maturity [Abstract] | |
Three months or less | $19,401 |
Over three months through six months | 12,174 |
Over six months through twelve months | 14,187 |
Twelve months or less | 45,762 |
Over twelve months | 21,657 |
Total time deposits $100 thousand and greater | $67,419 |
Note_11_Deposits_Details_Inter
Note 11 - Deposits (Details) - Interest Expense on Deposits (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Expense on Deposits [Abstract] | |||
Transaction deposits | $41 | $39 | $39 |
Money market deposits | 38 | 32 | 47 |
Savings deposits | 9 | 10 | 9 |
Time deposits | 406 | 2,176 | 5,041 |
Total interest expense on deposits | $494 | $2,257 | $5,136 |
Note_12_Borrowings_Details
Note 12 - Borrowings (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 12 - Borrowings (Details) [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $36.60 | |
Federal Home Loan Bank Advances, General Debt Obligations Disclosures, Percentage of Maximum Amount Available | 25.00% | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Weighted Average Interest Rate | 0.26% | |
Federal Reserve Advances, General Debt Obligations Disclosures, Loans and Securities Pledged | 39.5 | 2.2 |
Line of Credit Facility, Number of Lines Converted to Unsecured | 2 | |
Available as Lendable Collateral [Member] | ||
Note 12 - Borrowings (Details) [Line Items] | ||
Federal Reserve Advances, General Debt Obligations Disclosures, Loans and Securities Pledged | 29.1 | 2.1 |
Secured Line Converted To Unsecured Line [Member] | ||
Note 12 - Borrowings (Details) [Line Items] | ||
Long-term Line of Credit | $20 |
Note_12_Borrowings_Details_Bor
Note 12 - Borrowings (Details) - Borrowings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Retail Purchase Agreements [Member] | |||
Retail repurchase agreements | |||
Amount outstanding at year-end | $15,921 | $18,175 | $15,357 |
Average amount outstanding during year | 20,054 | 18,916 | 20,485 |
Maximum amount outstanding at any month-end | 31,418 | 24,640 | 27,985 |
Rate paid at year-end | 0.01% | 0.01% | 0.01% |
Weighted average rate paid during the year | 0.01% | 0.01% | 0.01% |
Federal Home Loan Bank Advances [Member] | |||
Retail repurchase agreements | |||
Amount outstanding at year-end | 35,000 | 35,000 | |
Average amount outstanding during year | 12,205 | 425 | 1 |
Maximum amount outstanding at any month-end | 40,000 | 35,000 | |
Rate paid at year-end | 0.24% | 0.17% | |
Weighted average rate paid during the year | 0.22% | 0.24% | |
Other Short-term Borrowings [Member] | |||
Retail repurchase agreements | |||
Average amount outstanding during year | $16 | $159 | $30 |
Note_12_Borrowings_Details_FHL
Note 12 - Borrowings (Details) - FHLB Borrowed Funds Utilization and Availability (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB advances outstanding | $35,000 | $35,000 |
Excess lendable collateral value pledged to serve against FHLB advances | 44,139 | 55,225 |
Investment Security [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Available lendable loan collateral value pledged to serve against FHLB advances | $79,139 | $90,225 |
Note_12_Borrowings_Details_Lin
Note 12 - Borrowings (Details) - Lines of Credit (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Line of Credit Facility [Line Items] | ||
Amount available | $80,000 | $60,000 |
Count | 8 | 5 |
Secured Debt [Member] | ||
Line of Credit Facility [Line Items] | ||
Amount available | 15,000 | 35,000 |
Count | 2 | 3 |
Unsecured Debt [Member] | ||
Line of Credit Facility [Line Items] | ||
Amount available | $65,000 | $25,000 |
Count | 6 | 2 |
Note_13_Shareholders_Equity_De
Note 13 - Shareholders' Equity (Details) (USD $) | 0 Months Ended | |||
Feb. 16, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 23, 2015 | |
Note 13 - Shareholders' Equity (Details) [Line Items] | ||||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | ||
Common Stock, Shares, Issued | 12,810,388 | 12,784,605 | ||
Common Stock, Shares, Outstanding | 12,810,388 | 12,784,605 | ||
Preferred Stock, Shares Authorized | 2,500,000 | 2,500,000 | ||
Preferred Stock, Shares Issued | 0 | 0 | ||
Subsequent Event [Member] | ||||
Note 13 - Shareholders' Equity (Details) [Line Items] | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 554,645 | |||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $0.08 |
Note_13_Shareholders_Equity_De1
Note 13 - Shareholders' Equity (Details) - Changes in Accumulated Other Comprehensive Loss by Component (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Changes in Accumulated Other Comprehensive Loss by Component [Abstract] | |||
Net unrealized loss on investment securities available for sale | ($819) | ($2,990) | $1,491 |
Net unrealized defined benefit pension plan actuarial loss | -9,084 | -7,303 | -8,208 |
Total accumulated other comprehensive loss, net of tax | ($9,903) | ($10,293) | ($6,717) |
Note_13_Shareholders_Equity_De2
Note 13 - Shareholders' Equity (Details) - Dividends (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Dividend Paid 1 [Member] | |
Dividends Payable [Line Items] | |
Dividends Payable, Record Date | 4-Aug-14 |
Dividends Payable, Payment Date | 18-Aug-14 |
Cash Dividend per Common Share | $0.05 |
Dividend Paid 2 [Member] | |
Dividends Payable [Line Items] | |
Dividends Payable, Record Date | 3-Nov-14 |
Dividends Payable, Payment Date | 17-Nov-14 |
Cash Dividend per Common Share | $0.05 |
Note_14_Income_Taxes_Details
Note 14 - Income Taxes (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | |
Note 14 - Income Taxes (Details) [Line Items] | ||||
Deferred Income Tax Expense (Benefit) | $4,666,000 | ($19,834,000) | $2,721,000 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | -22,400,000 | |||
Proceeds and Excess Tax Benefit from Share-based Compensation | 0 | 0 | 0 | |
Operating Loss Carryforwards to be Expired in Year One | 200,000 | |||
Operating Loss Carryforwards to be Expired in Year Two | 8,900,000 | |||
Operating Loss Carryforwards to be Expired in Year Three | 279,000 | |||
Net Operating Loss Carryforwards Utilized During Period | 9,200,000 | |||
Deferred Tax Assets, Net of Valuation Allowance | 21,051,000 | 26,299,000 | ||
Estimated Future Utilization of Built in Losses | 53,000,000 | |||
Estimated Future Utilization of Built in Losses Per Year | 1,100,000 | |||
Private Placement [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Stock Issued During Period, Shares, New Issues (in Shares) | 9,993,995 | |||
Share Price (in Dollars per share) | $10.40 | |||
Domestic Tax Authority [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Operating Loss Carryforwards | 9,400,000 | |||
Deferred Tax Assets, Net of Valuation Allowance | 17,100,000 | |||
Allowance for Loan and Lease Losses [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | -1,200,000 | |||
Operating Loss Carryforward [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | -2,800,000 | |||
Operating Loss Carryforward Expiring 2031 [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Net Operating Loss Carryforwards Utilized During Period | 7,300,000 | |||
Operating Loss Carryforward Expiring 2032 [Member] | ||||
Note 14 - Income Taxes (Details) [Line Items] | ||||
Net Operating Loss Carryforwards Utilized During Period | $1,900,000 |
Note_14_Income_Taxes_Details_I
Note 14 - Income Taxes (Details) - Income Tax Expense (Benefit) Attributable to Continuing Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current income tax expense | |||||||||||
Federal | $300 | $181 | |||||||||
State | 503 | 1,238 | |||||||||
Total current expense | 803 | 1,419 | |||||||||
Deferred income tax expense (benefit) | |||||||||||
Federal | 4,666 | -19,798 | 2,721 | ||||||||
State | -36 | ||||||||||
Total deferred expense (benefit) | 4,666 | -19,834 | 2,721 | ||||||||
Total current and deferred expense (benefit) | $1,930 | $1,189 | $1,168 | $1,182 | ($224) | ($19,386) | $382 | $813 | $5,469 | ($18,415) | $2,721 |
Note_14_Income_Taxes_Details_S
Note 14 - Income Taxes (Details) - Statutory Federal Income Tax Rate to Effective Income Tax Rate | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Statutory Federal Income Tax Rate to Effective Income Tax Rate [Abstract] | |||
U.S. statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
Changes from statutory rates resulting from: | |||
State income tax, net of federal benefit | 2.20% | 8.60% | |
Tax-exempt income | -1.60% | -1.50% | -74.10% |
Expenses not deductible for tax purposes | 0.10% | 0.30% | 2.60% |
(Decrease) increase in deferred tax asset valuation allowance | -240.00% | 352.20% | |
Other | 1.20% | 0.10% | 1.90% |
Effective income tax rate | 36.90% | -197.50% | 317.60% |
Note_14_Income_Taxes_Details_G
Note 14 - Income Taxes (Details) - Gross Deferred Tax Assets, Related Valuation Allowance, and Gross Deferred Tax Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ||
Recognized built-in loss carryforward | $7,609 | $7,689 |
Allowance for loan losses | 4,522 | 5,770 |
Federal net operating loss carryforward | 3,275 | 6,072 |
Writedowns of foreclosed real estate | 1,912 | 2,369 |
Equity-based compensation | 1,054 | 1,047 |
Pension Plan contributions and accrued liability | 1,053 | 463 |
Alternative minimum tax credit carryforward | 750 | 493 |
Unrealized losses on investment securities available for sale | 501 | 1,829 |
Other | 375 | 365 |
Nonaccrual loan interest | 202 | |
Deferred tax assets, gross | 21,051 | 26,299 |
Valuation allowance | ||
Deferred tax assets, net of valuation allowance | 21,051 | 26,299 |
Deferred tax liabilities | ||
Deferred loan fees and costs, net | -1,703 | -1,592 |
Premises, equipment and capital leases | -1,148 | -1,380 |
Servicing rights | -814 | -874 |
Other | -333 | -366 |
Deferred tax liabilities, gross | -3,998 | -4,212 |
Deferred tax asset, net | $17,053 | $22,087 |
Note_15_Benefit_Plans_Details
Note 15 - Benefit Plans (Details) (USD $) | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2007 | |
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Defined Contribution Plan Employer Matching Contribution Rate Per Dollar | $0.25 | $0.10 | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | 6.00% | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 86,000 | 28,000 | |||
Assets in the Benefit Equalization Plan | 0 | ||||
Liabilities in the Benefit Equalization Plan | 0 | ||||
Criteria for Defined Benefit Pension Plan | 0 months | ||||
Attainable Age for Continuous Servicing in Defined Pension Plan | 21 years | ||||
Defined Benefit Plan, Assumptions, Calculating Benefit Obligation, Discount Rate | 50.00% | ||||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | 1,600,000 | ||||
Other Assets [Member] | |||||
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Assets in the Benefit Equalization Plan | 40,000 | 40,000 | |||
Other Liabilities [Member] | |||||
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Liabilities in the Benefit Equalization Plan | $40,000 | $40,000 |
Note_15_Benefit_Plans_Details_
Note 15 - Benefit Plans (Details) - Combined Change in Benefit Obligation Defined Benefit Pension Plan Assets and Funded Status (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Change in benefit obligation | |||
Interest cost | $892 | $848 | $958 |
Change in Pension Plan assets | |||
Fair value of Pension Plan assets, beginning of period | 16,798 | ||
Fair value of Pension Plan assets, end of period | 17,429 | 16,798 | |
Underfunded status | -3,009 | -1,324 | -3,967 |
Net actuarial loss | -13,975 | -11,235 | -12,627 |
Income tax benefit | -4,891 | -3,932 | -4,419 |
Accumulated other comprehensive loss impact | -9,084 | -7,303 | -8,208 |
Change in Benefit Obligation [Member] | |||
Change in benefit obligation | |||
Benefit obligation, beginning of period | 18,122 | 18,507 | 19,786 |
Benefit obligation, end of period | 20,438 | 18,122 | 18,507 |
Interest cost | 892 | 848 | 958 |
Net actuarial loss | 4,110 | 80 | 668 |
Benefits paid | -2,686 | -1,313 | -2,905 |
Change in Plan Assets [Member] | |||
Change in benefit obligation | |||
Benefits paid | -2,686 | -1,313 | -2,905 |
Change in Pension Plan assets | |||
Fair value of Pension Plan assets, beginning of period | 16,798 | 14,540 | 13,663 |
Fair value of Pension Plan assets, end of period | 17,429 | 16,798 | 14,540 |
Return on Pension Plan assets | 1,717 | 1,678 | 2,182 |
Employer contribution | $1,600 | $1,893 | $1,600 |
Note_15_Benefit_Plans_Details_1
Note 15 - Benefit Plans (Details) - Employee Benefit Plans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Benefit Plans [Abstract] | |||
Interest cost | $892 | $848 | $958 |
Expected return on plan assets | -1,076 | -1,186 | -1,133 |
Amortization of net actuarial loss | 729 | 980 | 911 |
Net periodic pension expense | $545 | $642 | $736 |
Note_15_Benefit_Plans_Details_2
Note 15 - Benefit Plans (Details) - Assumptions Used in Computing Benefit Obligation and Adjusted Net Periodic Expense (Income) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Weighted-average assumptions used in computing balance sheet liabilty: | |||
Discount rate | 4.16% | 5.04% | 4.19% |
Expected long-term rate of return on Pension Plan assets | 6.30% | 8.00% | 8.00% |
Rate of increase in compensation levels | |||
Weighted-average assumptions used in computing net periodic benefit expense: | |||
Discount rate | 5.04% | 4.19% | 5.02% |
Expected long-term rate of return on Pension Plan assets | 6.30% | 8.00% | 8.00% |
Rate of increase in compensation levels |
Note_15_Benefit_Plans_Details_3
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | $17,429 | $16,798 |
Cash and Cash Equivalents [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 902 | 4,440 |
US Government Agencies Debt Securities [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 549 | |
State and Municipal [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 470 | |
Corporate Debt Securities [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 3,398 | |
Mutual Funds [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 902 | 3,596 |
Corporate Stocks [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 1,085 | 3,329 |
Exchange Traded Funds [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 14,351 | 287 |
Foreign Equities [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 182 | 694 |
Accrued Interest Receivable [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | 30 | |
Other Plan Assets [Member] | ||
Note 15 - Benefit Plans (Details) - Fair Value of Pension Plan Assets by Major Category [Line Items] | ||
Pension Plan assets | $7 | $5 |
Note_15_Benefit_Plans_Details_4
Note 15 - Benefit Plans (Details) - Defined Benefit Pension Plan Assets Measured at Fair Value (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 15 - Benefit Plans (Details) - Defined Benefit Pension Plan Assets Measured at Fair Value [Line Items] | ||
Pension Plan assets | $17,429 | $16,798 |
Fair Value, Inputs, Level 1 [Member] | ||
Note 15 - Benefit Plans (Details) - Defined Benefit Pension Plan Assets Measured at Fair Value [Line Items] | ||
Pension Plan assets | 1,994 | 7,804 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 15 - Benefit Plans (Details) - Defined Benefit Pension Plan Assets Measured at Fair Value [Line Items] | ||
Pension Plan assets | $15,435 | $8,994 |
Note_15_Benefit_Plans_Details_5
Note 15 - Benefit Plans (Details) - Benefits Expected to be Paid for Next Ten Years (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Benefits Expected to be Paid for Next Ten Years [Abstract] | |
2015 | $1,002 |
2016 | 1,017 |
2017 | 1,030 |
2018 | 1,069 |
2019 | 1,092 |
2020-2024 | $5,711 |
Note_16_Equity_Based_Compensat2
Note 16 - Equity Based Compensation (Details) (USD $) | 12 Months Ended | 48 Months Ended | 60 Months Ended | 12 Months Ended | 36 Months Ended | 12 Months Ended | 48 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2017 | Dec. 31, 2010 | Dec. 31, 2014 | |
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||
Restricted Stock [Member] | Scenario, Forecast [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 2,500 | 16,900 | |||||||
Restricted Stock [Member] | Team Member [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 19,400 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 8,811 | 8,020 | |||||||
Restricted Stock [Member] | Other than Management Members of Board of Directors [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 5,404 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-option Equity Instruments, Granted, Value (in Dollars) | 70,000 | ||||||||
Restricted Stock [Member] | Director [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 2,547 | ||||||||
Restricted Stock [Member] | 2008 Restricted Stock Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 62,386 | 62,386 | 62,386 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | 23.95 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value (in Dollars) | 74,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 5,180 | ||||||||
Restricted Stock [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 27,351 | 8,811 | 8,020 | 89,751 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 625 | 575 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 132,733 | 106,007 | 132,733 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value (in Dollars) | 508,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 37,399 | 2,500 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value (in Dollars per share) | 11.07 | ||||||||
Restricted Stock [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 11,073 | 19,967 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -350 | ||||||||
Scenario, Forecast [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 26,000 | 4,000 | |||||||
Team Member [Member] | 2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 30,000 | ||||||||
1997 Stock Compensation Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||
Share Based Compensation Arrangement By Share Based Payment Award Exercise Period | 10 years | ||||||||
Percentage of Fair Value Used for Exercise Price Options | 100.00% | 100.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value (in Dollars) | 0 | 0 | 0 | ||||||
2008 Restricted Stock Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | 3 years | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 62,500 | 62,500 | |||||||
Economic Value of Matching Grants (in Dollars) | 10,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 49,000 | 49,000 | |||||||
2011 Stock Incentive Plan [Member] | |||||||||
Note 16 - Equity Based Compensation (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 700,000 | 700,000 | |||||||
Exercise Period of Option After Grant Date | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 11,250 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 30,000 | 383,251 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 909,000 | $909,000 |
Note_16_Equity_Based_Compensat3
Note 16 - Equity Based Compensation (Details) - Stock Option Activity for 1997 Plan (1997 Stock Compensation Plan [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
1997 Stock Compensation Plan [Member] | |||
Note 16 - Equity Based Compensation (Details) - Stock Option Activity for 1997 Plan [Line Items] | |||
Outstanding, December 31, 2011 | 6,450 | 11,953 | 18,703 |
Outstanding, December 31, 2011 | $103.89 | $92.89 | $93.65 |
Stock options outstanding | 2,950 | 6,450 | 11,953 |
Weighted-average exercise price, options outstanding | $109.80 | $103.89 | $92.89 |
Options forfeited | -1,250 | -6,750 | |
Weighted-average exercise price, options forfeited | $109.20 | $94.98 | |
Options expired | -2,250 | -5,503 | |
Weighted-average exercise price, options expired | $93.20 | $80 |
Note_16_Equity_Based_Compensat4
Note 16 - Equity Based Compensation (Details) - Information Regarding Stock Options Under Plan that are Outstanding and Exerciable (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Note 16 - Equity Based Compensation (Details) - Information Regarding Stock Options Under Plan that are Outstanding and Exerciable [Line Items] | |
Number of stock options outstanding and exercisable | 2,950 |
Weighted-average remaining contractual life | 1 year 127 days |
Range One [Member] | |
Note 16 - Equity Based Compensation (Details) - Information Regarding Stock Options Under Plan that are Outstanding and Exerciable [Line Items] | |
Weighted-average exercise price | 106.4 |
Number of stock options outstanding and exercisable | 250 |
Weighted-average remaining contractual life | 18 days |
Range Two [Member] | |
Note 16 - Equity Based Compensation (Details) - Information Regarding Stock Options Under Plan that are Outstanding and Exerciable [Line Items] | |
Weighted-average exercise price | 109.2 |
Number of stock options outstanding and exercisable | 2,500 |
Weighted-average remaining contractual life | 1 year 153 days |
Range Three [Member] | |
Note 16 - Equity Based Compensation (Details) - Information Regarding Stock Options Under Plan that are Outstanding and Exerciable [Line Items] | |
Weighted-average exercise price | 121.6 |
Number of stock options outstanding and exercisable | 200 |
Weighted-average remaining contractual life | 2 years 18 days |
Note_16_Equity_Based_Compensat5
Note 16 - Equity Based Compensation (Details) - Restricted Stock Activity (Restricted Stock [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Balance | 51,313 | 31,696 | 62,386 |
Balance (in Dollars per share) | $31.50 | $49.38 | $27.63 |
Remaining shares available for grant, December 31, 2013 and 2014 | 114 | ||
Granted | 11,073 | 19,967 | |
Granted (in Dollars per share) | $9.68 | $5.51 | |
Forfeited | -350 | ||
Forfeited (in Dollars per share) | $168 | ||
Balance | 62,386 | 51,313 | 62,386 |
Balance (in Dollars per share) | $27.63 | $31.50 | $27.63 |
Note_16_Equity_Based_Compensat6
Note 16 - Equity Based Compensation (Details) - Restricted Stock Vesting Status and Activity (Restricted Stock [Member]) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 16 - Equity Based Compensation (Details) - Restricted Stock Vesting Status and Activity [Line Items] | ||||
Balance | 51,313 | 31,696 | ||
Granted | 11,073 | 19,967 | ||
Forfeited | 350 | |||
Balance | 62,386 | 62,386 | 51,313 | |
2008 Restricted Stock Plan [Member] | ||||
Note 16 - Equity Based Compensation (Details) - Restricted Stock Vesting Status and Activity [Line Items] | ||||
Balance | 11,247 | |||
Balance | 51,139 | |||
Balance | 62,386 | |||
Granted | 0 | |||
Forfeited | 0 | |||
Vested | -5,180 | |||
Vested | 5,180 | |||
Balance | 6,067 | |||
Balance | 56,319 | |||
Balance | 62,386 | |||
2011 Stock Incentive Plan [Member] | ||||
Note 16 - Equity Based Compensation (Details) - Restricted Stock Vesting Status and Activity [Line Items] | ||||
Balance | 103,507 | |||
Balance | 2,500 | |||
Balance | 106,007 | |||
Granted | 27,351 | 8,811 | 8,020 | 89,751 |
Forfeited | -625 | -575 | ||
Vested | -37,399 | -2,500 | ||
Vested | 37,399 | 2,500 | ||
Balance | 92,834 | 103,507 | ||
Balance | 39,899 | 2,500 | ||
Balance | 132,733 | 106,007 |
Note_16_Equity_Based_Compensat7
Note 16 - Equity Based Compensation (Details) - Stock Options and Restricted Stock Activity (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 16 - Equity Based Compensation (Details) - Stock Options and Restricted Stock Activity [Line Items] | ||||
Grants, weighted-average exercise price (in Dollars per share) | $15.97 | |||
Restricted Stock [Member] | 2011 Stock Incentive Plan [Member] | ||||
Note 16 - Equity Based Compensation (Details) - Stock Options and Restricted Stock Activity [Line Items] | ||||
Grants, shares of restricted stock | 27,351 | 8,811 | 8,020 | 89,751 |
Grants, weighted-average grant date fair value per share (in Dollars per share) | $15.15 | $13.70 | $6.50 | $10.48 |
Forfeitures, shares of restricted stock | -625 | -575 | ||
Forfeitures, weighted-average grant date fair value per share (in Dollars per share) | $6.50 | $13.95 | ||
Granted, net of forfeitures, December 31, 2014 | 132,733 | 106,007 | ||
Restricted Stock [Member] | ||||
Note 16 - Equity Based Compensation (Details) - Stock Options and Restricted Stock Activity [Line Items] | ||||
Grants, shares of restricted stock | 11,073 | 19,967 | ||
Grants, weighted-average grant date fair value per share (in Dollars per share) | $9.68 | $5.51 | ||
Forfeitures, shares of restricted stock | 350 | |||
Forfeitures, weighted-average grant date fair value per share (in Dollars per share) | $168 | |||
Remaining shares available for grant, December 31, 2014 | 114 | |||
2011 Stock Incentive Plan [Member] | ||||
Note 16 - Equity Based Compensation (Details) - Stock Options and Restricted Stock Activity [Line Items] | ||||
Grants | 57,351 | 8,811 | 8,020 | 473,002 |
Grants, stock options outstanding | 30,000 | 383,251 | ||
Grants, weighted-average exercise price (in Dollars per share) | $15.97 | $10.51 | ||
Forfeitures | -625 | -575 | ||
Granted, net of forfeitures, December 31, 2014 | 545,984 | |||
Outstanding, December 31, 2014 | 402,001 | |||
Outstanding, December 31, 2014 (in Dollars per share) | $10.90 | |||
Total shares available for grant under the 2011 Plan | 700,000 | |||
Remaining shares available for grant, December 31, 2014 | 154,016 | |||
2013 Exercises | -11,250 | |||
2013 Exercises (in Dollars per share) | $11 |
Note_16_Equity_Based_Compensat8
Note 16 - Equity Based Compensation (Details) - Stock Options Outstanding (2011 Stock Incentive Plan [Member], USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted-average exercise price | |
Options outstanding | 402,001 |
Options outstanding, weighted-average remaining contractual life | 6 years 240 days |
Options outstanding, value of in-the-money stock options | $2,329,886 |
Options exercisable | 124,000 |
Options exercisable, weighted-average remaining contractual life | 6 years 146 days |
Options exercisable, value of in-the-money stock options | 769,300 |
Range One [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted-average exercise price | $10.40 |
Options outstanding | 312,501 |
Options outstanding, weighted-average remaining contractual life | 6 years 138 days |
Options outstanding, value of in-the-money stock options | 1,968,756 |
Options exercisable | 104,167 |
Options exercisable, weighted-average remaining contractual life | 6 years 138 days |
Options exercisable, value of in-the-money stock options | 656,252 |
Range Two [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted-average exercise price | $11 |
Options outstanding | 59,500 |
Options outstanding, weighted-average remaining contractual life | 6 years 197 days |
Options outstanding, value of in-the-money stock options | 339,150 |
Options exercisable | 19,833 |
Options exercisable, weighted-average remaining contractual life | 6 years 197 days |
Options exercisable, value of in-the-money stock options | 113,048 |
Range Three [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted-average exercise price | $12.96 |
Options outstanding | 4,000 |
Options outstanding, weighted-average remaining contractual life | 9 years 51 days |
Options outstanding, value of in-the-money stock options | 14,960 |
Range Four [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Weighted-average exercise price | $16.43 |
Options outstanding | 26,000 |
Options outstanding, weighted-average remaining contractual life | 9 years 350 days |
Options outstanding, value of in-the-money stock options | $7,020 |
Note_16_Equity_Based_Compensat9
Note 16 - Equity Based Compensation (Details) - Fair Value of Stock Option Award Granted (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Fair Value of Stock Option Award Granted [Abstract] | |
Option exercise price, per share (in Dollars per share) | $15.97 |
Fair value of stock option awards granted, per share (in Dollars per share) | $5.73 |
Expected dividend yield | 1.10% |
Expected volatility | 36.00% |
Risk-free interest rate | 2.00% |
Expected term (years) | 7 years |
Vesting period (years) | 5 years |
Recovered_Sheet1
Note 16 - Equity Based Compensation (Details) - Compensation Expense (Restricted Stock And Stock Options [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation expense | |||
Equity-based Compensation Expense | $773 | $1,158 | $1,109 |
Income tax benefit | 271 | ||
2008 Restricted Stock Plan [Member] | |||
Compensation expense | |||
Equity-based Compensation Expense | 83 | 336 | 343 |
2011 Stock Incentive Plan [Member] | |||
Compensation expense | |||
Equity-based Compensation Expense | $690 | $822 | $766 |
Note_17_Average_Share_Informat2
Note 17 - Average Share Information (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings Per Share [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
Note_17_Average_Share_Informat3
Note 17 - Average Share Information (Details) - Reconciliation of Denominators of the Basic and Diluted Net Income Per Share (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Basic net income (loss) per common share | ||||||||||||||
Net income (loss) applicable to common shareholders | $3,318 | $1,982 | $2,027 | $2,028 | $1,823 | $22,233 | $1,499 | $2,176 | $9,355 | $27,731 | ($1,864) | |||
Undistributed earnings allocated to participating securities | -61 | -248 | ||||||||||||
Net income (loss) allocated to common shareholders | 9,294 | 27,483 | -1,864 | |||||||||||
Net income (loss) allocated to common shareholders | $9,294 | $27,483 | ($1,864) | |||||||||||
Weighted average basic common shares (in Shares) | 12,696,777 | 12,658,752 | 12,639,379 | |||||||||||
Dilutive potential common shares (1) (in Shares) | 65,108 | [1] | [1] | [1] | ||||||||||
Weighted average diluted common shares (in Shares) | 12,761,885 | 12,658,752 | 12,639,379 | |||||||||||
Diluted net income (loss) per common share (in Dollars per share) | $0.26 | $0.15 | $0.16 | $0.16 | $0.14 | $1.74 | $0.12 | $0.17 | $0.73 | $2.17 | ($0.15) | |||
Basic net income (loss) per common share (in Dollars per share) | $0.26 | $0.15 | $0.16 | $0.16 | $0.14 | $1.74 | $0.12 | $0.17 | $0.73 | $2.17 | ($0.15) | |||
[1] | Includes dilutive impact of restricted stock and stock options, as applicable |
Note_18_Commitments_Guarantees2
Note 18 - Commitments, Guarantees and Other Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | 1-May-13 | |
Note 18 - Commitments, Guarantees and Other Contingencies (Details) [Line Items] | |||
Maximum Potential Commitment Under Letters of Credit | $2,700,000 | $3,700,000 | |
Reserve for Unfunded Commitments | 472,000 | 259,000 | |
Operating Leases, Future Minimum Payments Due | 33,000 | ||
Subscription Agreement Payment | 250,000 | 350,000 | |
Private Limited Partnership Interests [Member] | Plexus Fund III, L.P. [Member] | |||
Note 18 - Commitments, Guarantees and Other Contingencies (Details) [Line Items] | |||
Commitments Raised | 150,000,000 | ||
Small Business Administration Funding [Member] | Plexus Fund III, L.P. [Member] | |||
Note 18 - Commitments, Guarantees and Other Contingencies (Details) [Line Items] | |||
Commitments Raised | 150,000,000 | ||
Subscription Agreement [Member] | |||
Note 18 - Commitments, Guarantees and Other Contingencies (Details) [Line Items] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 2,000,000 | ||
Percent of Capital Commitments | 1.30% | ||
Guarantor Obligations, Current Carrying Value | $1,400,000 |
Note_18_Commitments_Guarantees3
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Amounts of the Companybs Unused Lending Commitments (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments to extend credit: | |
Unused lending commitments | $201,119 |
Single-family Real Estate, Revolving, Open-end Loans [Member] | |
Commitments to extend credit: | |
Unused lending commitments | 66,706 |
Single Family Residential Construction Loan [Member] | |
Commitments to extend credit: | |
Unused lending commitments | 9,477 |
Commercial Real Estate, Other Construction Loans, and Land Development Loan Commitments [Member] | |
Commitments to extend credit: | |
Unused lending commitments | 41,259 |
Commercial and Industrial [Member] | |
Commitments to extend credit: | |
Unused lending commitments | 36,464 |
Overdraft Protection Line [Member] | |
Commitments to extend credit: | |
Unused lending commitments | 30,414 |
Other Loans [Member] | |
Commitments to extend credit: | |
Unused lending commitments | $16,799 |
Note_18_Commitments_Guarantees4
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Obligations of Time Deposit Accounts (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Obligations of Time Deposit Accounts [Line Items] | |
Contractual obligations, Less than one year | $126,153 |
Contractual obligations, Over one through three years | 40,715 |
Contractual obligations, Over three through five years | 12,995 |
Contractual obligations, Over five years | 7,146 |
Contractual obligations, Total | 187,009 |
Real Property Operating Lease Obligations [Member] | |
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Obligations of Time Deposit Accounts [Line Items] | |
Contractual obligations, Less than one year | 1,733 |
Contractual obligations, Over one through three years | 3,329 |
Contractual obligations, Over three through five years | 3,347 |
Contractual obligations, Over five years | 7,115 |
Contractual obligations, Total | 15,524 |
Time Deposit Accounts [Member] | |
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Obligations of Time Deposit Accounts [Line Items] | |
Contractual obligations, Less than one year | 124,154 |
Contractual obligations, Over one through three years | 37,130 |
Contractual obligations, Over three through five years | 9,605 |
Contractual obligations, Over five years | 31 |
Contractual obligations, Total | 170,920 |
Contractually Required Interest Payments on Time Deposits [Member] | |
Note 18 - Commitments, Guarantees and Other Contingencies (Details) - Contractual Obligations of Time Deposit Accounts [Line Items] | |
Contractual obligations, Less than one year | 266 |
Contractual obligations, Over one through three years | 256 |
Contractual obligations, Over three through five years | 43 |
Contractual obligations, Total | $565 |
Note_19_Derivative_Financial_I1
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Asset | $85,000 | $204,000 | |
Derivative Liability | 18,000 | 7,000 | |
Loan Origination Commitments [Member] | Other Assets [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Asset | 85,000 | 176,000 | |
Loan Origination Commitments [Member] | Other Liabilities [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Liability | 3,000 | ||
Loan Origination Commitments [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Commitments and Contingencies | 2,400,000 | 7,300,000 | |
Derivative, Gain (Loss) on Derivative, Net | 88,000 | 164,000 | 28,000 |
Forward Sales Commitment [Member] | Other Assets [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Asset | 28,000 | ||
Forward Sales Commitment [Member] | Other Liabilities [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Liability | 18,000 | 4,000 | |
Forward Sales Commitment [Member] | |||
Note 19 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Commitments and Contingencies | 2,300,000 | 6,800,000 | |
Derivative, Gain (Loss) on Derivative, Net | $42,000 | $4,000 | $63,000 |
Note_20_Fair_Value_Measurement2
Note 20 - Fair Value Measurements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value Disclosures [Abstract] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | $0 | $0 |
Note_20_Fair_Value_Measurement3
Note 20 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Trading account assets | $5,513 | $5,118 |
Investment securities available for sale | ||
Available for sale securities fair value | 211,511 | 214,383 |
Derivative financial instruments, assets | 85 | 204 |
Total assets measured at fair value on a recurring basis | 217,109 | 219,705 |
Liabilities | ||
Derivative financial instruments, liabilities | 18 | 7 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 3,965 | |
US Government Agencies Debt Securities [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 3,965 | |
State and Municipal [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 572 | |
State and Municipal [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 6,160 | 7,460 |
State and Municipal [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 6,732 | 7,460 |
Collateralized Mortgage Obligations (Federal Agencies) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 87,774 | 93,132 |
Collateralized Mortgage Obligations (Federal Agencies) [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 87,774 | 93,132 |
Other Mortgage-Backed (Federal Agencies) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 1,188 | |
Other Mortgage-Backed (Federal Agencies) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 78,503 | 74,832 |
Other Mortgage-Backed (Federal Agencies) [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 78,503 | 76,020 |
SBA Loan-Backed (Federal Agencies) [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 19,675 | 20,457 |
SBA Loan-Backed (Federal Agencies) [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 14,862 | 17,314 |
SBA Loan-Backed (Federal Agencies) [Member] | ||
Investment securities available for sale | ||
Available for sale securities fair value | 34,537 | 37,771 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Trading account assets | 1,397 | 1,347 |
Investment securities available for sale | ||
Total assets measured at fair value on a recurring basis | 21,644 | 22,992 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Trading account assets | 4,116 | 3,771 |
Investment securities available for sale | ||
Derivative financial instruments, assets | 85 | 204 |
Total assets measured at fair value on a recurring basis | 195,465 | 196,713 |
Liabilities | ||
Derivative financial instruments, liabilities | $18 | $7 |
Note_20_Fair_Value_Measurement4
Note 20 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Total assets measured at fair value on a nonrecurring basis | $217,109 | $219,705 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Foreclosed real estate and repossessed personal property | 82 | 34 |
Total assets measured at fair value on a nonrecurring basis | 82 | 34 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Total assets measured at fair value on a nonrecurring basis | 21,644 | 22,992 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Mortgage loans held for sale | 1,125 | 1,722 |
Impaired loans in gross loans | 5,709 | 5,588 |
Foreclosed real estate and repossessed personal property | 31 | |
Total assets measured at fair value on a nonrecurring basis | 6,834 | 7,341 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Total assets measured at fair value on a nonrecurring basis | 195,465 | 196,713 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Impaired loans in gross loans | 25 | |
Foreclosed real estate and repossessed personal property | 4,717 | 6,595 |
Total assets measured at fair value on a nonrecurring basis | 4,717 | 6,620 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Mortgage loans held for sale | 1,125 | 1,722 |
Impaired loans in gross loans | 5,709 | 5,613 |
Foreclosed real estate and repossessed personal property | 4,799 | 6,660 |
Total assets measured at fair value on a nonrecurring basis | $11,633 | $13,995 |
Note_20_Fair_Value_Measurement5
Note 20 - Fair Value Measurements (Details) - Significant Unobservable Inputs Used in Fair Value Measurements for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis (Fair Value, Measurements, Nonrecurring [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||
Foreclosed real estate | $4,799 | $6,660 |
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate and Repossessed Personal Property [Member] | ||
Assets | ||
Foreclosed real estate | 4,717 | |
Foreclosed real estate | Appraisals of collateral value | |
Foreclosed real estate | Adjustments to appraisal for age of comparable sales | |
Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Foreclosed real estate | $4,717 | $6,595 |
Note_20_Fair_Value_Measurement6
Note 20 - Fair Value Measurements (Details) - Carrying Amount and Fair Value for Other Financial Instruments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Carrying Amount [Member] | ||||
Financial instruments - assets | ||||
Loans | $788,228 | [1] | $748,243 | [1] |
Financial instruments - liabilities | ||||
Deposits | 928,320 | 907,360 | ||
Fair Value [Member] | ||||
Financial instruments - assets | ||||
Loans | 788,334 | [1] | 748,330 | [1] |
Financial instruments - liabilities | ||||
Deposits | $885,100 | $896,858 | ||
[1] | Includes gross loans less impaired loans for which fair value exceeds carrying value and allowance for loan losses relative to loans collectively evaluated for impairment |
Note_21_Regulatory_Capital_Req2
Note 21 - Regulatory Capital Requirements (Details) - The Companybs and the Bankbs Actual and Required Capital Ratios (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Parent Company [Member] | ||
Total capital to risk-weighted assets | ||
Total capital to risk-weighted assets, actual amount | $143,519 | $130,043 |
Total capital to risk-weighted assets, actual ratio | 16.26% | 15.49% |
Total capital to risk-weighted assets, for capital adequacy purposes amount | 70,625 | 67,142 |
Total capital to risk-weighted assets, for capital adequacy purposes ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets | ||
Tier 1 capital to risk-weighted assets, actual amount | 132,455 | 119,475 |
Tier 1 capital to risk-weighted assets, actual ratio | 15.00% | 14.24% |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes amount | 35,312 | 33,571 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 leverage ratio | ||
Tier 1 leverage ratio, actual amount | 132,455 | 119,475 |
Tier 1 leverage ratio, actual ratio | 12.15% | 11.03% |
Tier 1 leverage ratio, for capital adequacy purposes amount | 43,613 | 43,309 |
Tier 1 leverage ratio, for capital adequacy purposes ratio | 4.00% | 4.00% |
The Palmetto Bank [Member] | ||
Total capital to risk-weighted assets | ||
Total capital to risk-weighted assets, actual amount | 143,363 | 129,956 |
Total capital to risk-weighted assets, actual ratio | 16.24% | 15.48% |
Total capital to risk-weighted assets, for capital adequacy purposes amount | 70,622 | 67,142 |
Total capital to risk-weighted assets, for capital adequacy purposes ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets, to be well capitalized under prompt corrective action provisions amount | 88,278 | 83,928 |
Total capital to risk-weighted assets, to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets | ||
Tier 1 capital to risk-weighted assets, actual amount | 132,299 | 119,388 |
Tier 1 capital to risk-weighted assets, actual ratio | 14.99% | 14.23% |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes amount | 35,311 | 33,571 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital to risk-weighted assets, to be well capitalized under prompt corrective action provisions amount | 52,967 | 50,357 |
Tier 1 capital to risk-weighted assets, to be well capitalized under prompt corrective action provisions ratio | 6.00% | 6.00% |
Tier 1 leverage ratio | ||
Tier 1 leverage ratio, actual amount | 132,299 | 119,388 |
Tier 1 leverage ratio, actual ratio | 12.13% | 11.03% |
Tier 1 leverage ratio, for capital adequacy purposes amount | 43,611 | 43,311 |
Tier 1 leverage ratio, for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 leverage ratio, to be well capitalized under prompt corrective action provisions amount | $54,514 | $54,138 |
Tier 1 leverage ratio, to be well capitalized under prompt corrective action provisions ratio | 5.00% | 5.00% |
Note_22_Holding_Company_Conden2
Note 22 - Holding Company Condensed Financial Information (Details) - Condensed Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Assets | ||||
Cash and cash equivalents | $36,887 | $38,178 | $101,385 | $102,952 |
Deferred tax asset, net | 17,053 | 22,087 | ||
Other assets | 8,762 | 8,742 | ||
Total assets | 1,118,811 | 1,090,229 | ||
Liabilities and shareholders' equity | ||||
Shareholders' equity | 133,044 | 123,817 | 98,380 | 103,482 |
Total liabilities and shareholders' equity | 1,118,811 | 1,090,229 | ||
Holding Company [Member] | ||||
Assets | ||||
Cash and cash equivalents | 127 | 87 | 128 | 959 |
Deferred tax asset, net | 150 | 364 | ||
Investment in subsidiary | 132,738 | 123,366 | ||
Other assets | 29 | |||
Total assets | 133,044 | 123,817 | ||
Liabilities and shareholders' equity | ||||
Shareholders' equity | 133,044 | 123,817 | ||
Total liabilities and shareholders' equity | $133,044 | $123,817 |
Note_22_Holding_Company_Conden3
Note 22 - Holding Company Condensed Financial Information (Details) - Condensed Statements of Income (Loss) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Provision (benefit) for income taxes | $1,930 | $1,189 | $1,168 | $1,182 | ($224) | ($19,386) | $382 | $813 | $5,469 | ($18,415) | $2,721 |
Net income (loss) | 3,318 | 1,982 | 2,027 | 2,028 | 1,823 | 22,233 | 1,499 | 2,176 | 9,355 | 27,731 | -1,864 |
Holding Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Equity in undistributed income (loss) of subsidiary | 9,848 | 27,509 | -1,738 | ||||||||
Other operating expense | 279 | 142 | 126 | ||||||||
Net income (loss) before provision (benefit) for income taxes | 9,569 | 27,367 | -1,864 | ||||||||
Provision (benefit) for income taxes | 214 | -364 | |||||||||
Net income (loss) | $9,355 | $27,731 | ($1,864) |
Note_22_Holding_Company_Conden4
Note 22 - Holding Company Condensed Financial Information (Details) - Condensed Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net income (loss) | $9,355 | $27,731 | ($1,864) |
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities | |||
Deferred income tax expense (benefit) | 4,666 | -19,834 | 2,721 |
Increase in other assets | -14 | 1,207 | 1,502 |
Decrease in other liabilities | -1,249 | 151 | -1,031 |
Net cash provided by (used for) operating activities | 18,824 | 24,778 | 37,096 |
Investing Activities | |||
Net cash used for investing activities | -37,529 | -10,045 | -30,300 |
Financing Activities | |||
Dividends paid on common stock | -1,279 | ||
Taxes paid related to net share settlement of equity awards | -13 | ||
Proceeds from exercise of stock options | 124 | ||
Net cash provided by (used for) financing activities | 17,414 | -77,940 | -8,363 |
Net change in cash and due from banks | -1,291 | -63,207 | -1,567 |
Cash and due from banks, beginning of period | 38,178 | 101,385 | 102,952 |
Cash and due from banks, end of period | 36,887 | 38,178 | 101,385 |
Holding Company [Member] | |||
Operating Activities | |||
Net income (loss) | 9,355 | 27,731 | -1,864 |
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities | |||
Increase in equity in undistributed (income) loss of subsidiary | -8,208 | -27,509 | 1,738 |
Deferred income tax expense (benefit) | 214 | -364 | |
Increase in other assets | -29 | ||
Decrease in other liabilities | -23 | -55 | |
Net cash provided by (used for) operating activities | 1,332 | -165 | -181 |
Investing Activities | |||
Capital contribution in subsidiary | -650 | ||
Net cash used for investing activities | -650 | ||
Financing Activities | |||
Dividends paid on common stock | -1,279 | ||
Taxes paid related to net share settlement of equity awards | -13 | ||
Proceeds from exercise of stock options | 124 | ||
Net cash provided by (used for) financing activities | -1,292 | 124 | |
Net change in cash and due from banks | 40 | -41 | -831 |
Cash and due from banks, beginning of period | 87 | 128 | 959 |
Cash and due from banks, end of period | $127 | $87 | $128 |
Note_23_Related_Party_Transact2
Note 23 - Related Party Transactions (Details) - Related Party Loans (Directors, Executive Officers, and Their Related Interests [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Directors, Executive Officers, and Their Related Interests [Member] | ||
Note 23 - Related Party Transactions (Details) - Related Party Loans [Line Items] | ||
Related party loans, beginning of period | $1,758 | $1,772 |
Additions: | ||
Loan originations | 30 | |
Reductions: | ||
Paydowns and payoffs | 66 | 14 |
Related party loans, end of period | $1,722 | $1,758 |
Note_24_Quarterly_Financial_Da2
Note 24 - Quarterly Financial Data (Unaudited) (Details) - Selected Quarterly Financial Data Regarding Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Selected Quarterly Financial Data Regarding Results of Operations [Abstract] | |||||||||||
Interest income | $9,783 | $9,871 | $9,920 | $10,076 | $10,423 | $10,523 | $10,728 | $10,864 | $39,650 | $42,538 | $45,390 |
Interest expense | 123 | 126 | 131 | 143 | 387 | 475 | 503 | 895 | 523 | 2,260 | 5,138 |
Net interest income | 9,660 | 9,745 | 9,789 | 9,933 | 10,036 | 10,048 | 10,225 | 9,969 | 39,127 | 40,278 | 40,252 |
Provision for loan losses | -1,800 | -500 | 1,800 | 645 | 670 | 350 | -2,300 | 3,465 | 13,075 | ||
Net interest income after provision for loan losses | 11,460 | 10,245 | 9,789 | 9,933 | 8,236 | 9,403 | 9,555 | 9,619 | 41,427 | 36,813 | 27,177 |
Investment securities gains, net | 40 | 85 | 23 | -44 | 331 | 125 | 310 | 10,494 | |||
Other noninterest income | 3,234 | 3,408 | 3,490 | 3,281 | 3,552 | 3,323 | 3,906 | 3,745 | 13,413 | 14,526 | |
Noninterest expense | 9,486 | 10,482 | 10,084 | 10,089 | 10,212 | 9,835 | 11,911 | 10,375 | 40,141 | 42,333 | 53,350 |
Net income before provision for income taxes | 5,248 | 3,171 | 3,195 | 3,210 | 1,599 | 2,847 | 1,881 | 2,989 | 14,824 | 9,316 | 857 |
Provision for income taxes | 1,930 | 1,189 | 1,168 | 1,182 | -224 | -19,386 | 382 | 813 | 5,469 | -18,415 | 2,721 |
Net income | $3,318 | $1,982 | $2,027 | $2,028 | $1,823 | $22,233 | $1,499 | $2,176 | $9,355 | $27,731 | ($1,864) |
Common and per share data | |||||||||||
Net income - basic (in Dollars per share) | $0.26 | $0.15 | $0.16 | $0.16 | $0.14 | $1.74 | $0.12 | $0.17 | $0.73 | $2.17 | ($0.15) |
Net income - diluted (in Dollars per share) | $0.26 | $0.15 | $0.16 | $0.16 | $0.14 | $1.74 | $0.12 | $0.17 | $0.73 | $2.17 | ($0.15) |