Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 05, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FARMERS CAPITAL BANK CORP | |
Trading Symbol | ffkt | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 7,497,615 | |
Amendment Flag | false | |
Entity Central Index Key | 713,095 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 20,732 | $ 26,770 |
Interest bearing deposits in other banks | 72,360 | 67,152 |
Federal funds sold and securities purchased under agreements to resell | 3,563 | 6,992 |
Money market mutual funds | 11,200 | 0 |
Total cash and cash equivalents | 107,855 | 100,914 |
Investment securities: | ||
Available for sale, amortized cost of $599,532 (2015) and $618,429 (2014) | 608,510 | 626,388 |
Held to maturity, fair value of $3,893 (2015) and $3,923 (2014) | 3,689 | 3,728 |
Total investment securities | 612,199 | 630,116 |
Loans, net of unearned income | 935,145 | 931,943 |
Allowance for loan losses | (11,277) | (13,968) |
Loans, net | 923,868 | 917,975 |
Premises and equipment, net | 33,924 | 34,933 |
Company-owned life insurance | 30,039 | 29,363 |
Intangible assets, net | 112 | 449 |
Other real estate owned | 22,868 | 31,960 |
Other assets | 33,890 | 36,896 |
Total assets | 1,764,755 | 1,782,606 |
Deposits: | ||
Noninterest bearing | 302,114 | 292,788 |
Interest bearing | 1,054,354 | 1,094,373 |
Total deposits | 1,356,468 | 1,387,161 |
Federal funds purchased and other short-term borrowings | 34,757 | 28,590 |
Securities sold under agreements to repurchase and other long-term borrowings | 120,115 | 119,724 |
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 |
Dividends payable, preferred | 0 | 113 |
Other liabilities | 30,867 | 25,119 |
Total liabilities | 1,591,177 | 1,609,677 |
Shareholders’ Equity | ||
Preferred stock, no par value 1,000,000 shares authorized; none and 10,000 Series A shares issued and outstanding at September 30, 2015 and December 31, 2014 | 0 | 10,000 |
Common stock, par value $.125 per share 14,608,000 shares authorized; 7,496,522 and 7,489,388 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively | 937 | 936 |
Capital surplus | 51,524 | 51,344 |
Retained earnings | 116,787 | 105,774 |
Accumulated other comprehensive income | 4,330 | 4,875 |
Total shareholders’ equity | 173,578 | 172,929 |
Total liabilities and shareholders’ equity | $ 1,764,755 | $ 1,782,606 |
Unaudited Condensed Consolidat3
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available for sale, amortized cost (in Dollars) | $ 599,532 | $ 618,429 |
Held to maturity, fair value (in Dollars) | $ 3,893 | $ 3,923 |
Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 10,000 |
Preferred stock, shares outstanding | 0 | 10,000 |
Common stock, par value (in Dollars per share) | $ 0.125 | $ 0.125 |
Common stock, shares authorized | 14,608,000 | 14,608,000 |
Common stock, shares issued | 7,496,522 | 7,489,388 |
Common stock, shares outstanding | 7,496,522 | 7,489,388 |
Unaudited Condensed Consolidat4
Unaudited Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Income | ||||
Interest and fees on loans | $ 11,919 | $ 12,441 | $ 36,006 | $ 37,759 |
Interest on investment securities: | ||||
Taxable | 2,508 | 2,857 | 7,944 | 8,917 |
Nontaxable | 661 | 644 | 1,982 | 1,905 |
Interest on deposits in other banks | 32 | 32 | 123 | 96 |
Interest on federal funds sold and securities purchased under agreements to resell | 3 | 2 | 9 | 4 |
Total interest income | 15,123 | 15,976 | 46,064 | 48,681 |
Interest Expense | ||||
Interest on deposits | 725 | 1,030 | 2,283 | 3,337 |
Interest on federal funds purchased and other short-term borrowings | 13 | 12 | 33 | 42 |
Interest on securities sold under agreements to repurchase and other long-term borrowings | 1,201 | 1,259 | 3,564 | 3,802 |
Interest on subordinated notes payable to unconsolidated trusts | 219 | 212 | 643 | 631 |
Total interest expense | 2,158 | 2,513 | 6,523 | 7,812 |
Net interest income | 12,965 | 13,463 | 39,541 | 40,869 |
Provision for loan losses | (898) | (1,536) | (2,707) | (2,792) |
Net interest income after provision for loan losses | 13,863 | 14,999 | 42,248 | 43,661 |
Noninterest Income | ||||
Service charges and fees on deposits | 1,955 | 1,993 | 5,634 | 5,900 |
Allotment processing fees | 1,066 | 1,276 | 3,358 | 3,795 |
Other service charges, commissions, and fees | 1,442 | 1,316 | 4,056 | 3,950 |
Trust income | 667 | 812 | 1,821 | 1,880 |
Investment securities gain (losses), net | (2) | 8 | 163 | (67) |
Gains on sale of mortgage loans, net | 220 | 123 | 558 | 343 |
Income from company-owned life insurance | 234 | 511 | 702 | 990 |
Other | 107 | 103 | 346 | 715 |
Total noninterest income | 5,689 | 6,142 | 16,638 | 17,506 |
Noninterest Expense | ||||
Salaries and employee benefits | 7,774 | 7,530 | 23,946 | 22,223 |
Occupancy expenses, net | 1,177 | 1,229 | 3,623 | 3,720 |
Equipment expenses | 691 | 637 | 1,918 | 1,824 |
Data processing and communication expenses | 1,114 | 979 | 3,243 | 2,953 |
Bank franchise tax | 608 | 585 | 1,820 | 1,807 |
Amortization of intangibles | 112 | 101 | 337 | 303 |
Deposit insurance expense | 397 | 426 | 1,201 | 1,327 |
Other real estate expenses, net | 262 | 1,974 | 1,033 | 3,976 |
Legal expenses | 292 | 293 | 693 | 715 |
Other | 1,854 | 1,997 | 5,451 | 5,656 |
Total noninterest expense | 14,281 | 15,751 | 43,265 | 44,504 |
Income before income taxes | 5,271 | 5,390 | 15,621 | 16,663 |
Income tax expense | 1,439 | 1,283 | 4,213 | 4,362 |
Net income | 3,832 | 4,107 | 11,408 | 12,301 |
Less preferred stock dividends and discount accretion | 0 | 450 | 395 | 1,550 |
Net income available to common shareholders | $ 3,832 | $ 3,657 | $ 11,013 | $ 10,751 |
Per Common Share | ||||
Net income - basic and diluted (in Dollars per share) | $ 0.51 | $ 0.49 | $ 1.47 | $ 1.44 |
Cash dividends declared (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding | ||||
Basic and diluted (in Shares) | 7,495 | 7,485 | 7,492 | 7,482 |
Unaudited Condensed Consolidat5
Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Income | $ 3,832 | $ 4,107 | $ 11,408 | $ 12,301 |
Other comprehensive income (loss): | ||||
Unrealized holding gain (loss) on available for sale securities arising during the period on securities held at end of period, net of tax of $1,026, $(820) $402 and $3,796, respectively | 1,905 | (1,522) | 747 | 7,049 |
Reclassification adjustment for prior period unrealized (gain) loss previously reported in other comprehensive income recognized during current period, net of tax of $3, $4, $46 and $(36), respectively | (5) | (7) | (86) | 66 |
Change in unfunded portion of postretirement benefit obligation, net of tax of $8, $12, $(649) and $37, respectively | 15 | 22 | (1,206) | 68 |
Other comprehensive income (loss) | 1,915 | (1,507) | (545) | 7,183 |
Comprehensive income | $ 5,747 | $ 2,600 | $ 10,863 | $ 19,484 |
Unaudited Condensed Consolidat6
Unaudited Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Unrealized holding gain (loss) on available for sale securities arising during the period on securities held at end of period, tax | $ 1,026 | $ (820) | $ 402 | $ 3,796 |
Reclassification adjustment for prior period unrealized (gain) loss previously reported in other comprehensive income recognized during current period, tax | 3 | 4 | 46 | (36) |
Change in unfunded portion of postretirement benefit obligation, tax | $ 8 | $ 12 | $ (649) | $ 37 |
Unaudited Condensed Consolidat7
Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2013 | $ 29,988 | $ 935 | $ 51,102 | $ 91,242 | $ (3,212) | $ 170,055 |
Balance (in Shares) at Dec. 31, 2013 | 7,479 | |||||
Net income | 12,301 | 12,301 | ||||
Other comprehensive income (loss) | 7,183 | 7,183 | ||||
Cash dividends declared-preferred | (1,538) | (1,538) | ||||
Preferred stock discount accretion | 12 | (12) | ||||
Redemption of preferred stock | (10,000) | (10,000) | ||||
Shares issued under director compensation plan | 64 | 64 | ||||
Shares issued under director compensation plan (in Shares) | 3 | |||||
Shares issued pursuant to employee stock purchase plan | $ 1 | 93 | 94 | |||
Shares issued pursuant to employee stock purchase plan (in Shares) | 5 | |||||
Expense related to employee stock purchase plan | 28 | 28 | ||||
Balance at Sep. 30, 2014 | 20,000 | $ 936 | 51,287 | 101,993 | 3,971 | 178,187 |
Balance (in Shares) at Sep. 30, 2014 | 7,487 | |||||
Balance at Dec. 31, 2014 | 10,000 | $ 936 | 51,344 | 105,774 | 4,875 | 172,929 |
Balance (in Shares) at Dec. 31, 2014 | 7,489 | |||||
Net income | 11,408 | 11,408 | ||||
Other comprehensive income (loss) | (545) | (545) | ||||
Cash dividends declared-preferred | (395) | (395) | ||||
Redemption of preferred stock | $ (10,000) | (10,000) | ||||
Shares issued under director compensation plan | 64 | 64 | ||||
Shares issued under director compensation plan (in Shares) | 3 | |||||
Shares issued pursuant to employee stock purchase plan | $ 1 | 92 | 93 | |||
Shares issued pursuant to employee stock purchase plan (in Shares) | 5 | |||||
Expense related to employee stock purchase plan | 24 | 24 | ||||
Balance at Sep. 30, 2015 | $ 937 | $ 51,524 | $ 116,787 | $ 4,330 | $ 173,578 | |
Balance (in Shares) at Sep. 30, 2015 | 7,497 |
Unaudited Condensed Consolidat8
Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Preferred dividends | $ 39.50 | $ 62.50 |
Unaudited Condensed Consolidat9
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows from Operating Activities | ||
Net income | $ 11,408 | $ 12,301 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 3,067 | 3,033 |
Net premium amortization of investment securities: | ||
Provision for loan losses | (2,707) | (2,792) |
Deferred income tax expense | 274 | 1,145 |
Mortgage loans originated for sale | (21,490) | (19,289) |
Proceeds from sale of mortgage loans | 21,879 | 23,177 |
Gain on sale of mortgage loans, net | (558) | (343) |
Loss (gain) on disposal and write downs of premises and equipment, net | 16 | (5) |
Net loss on sale and write downs of other real estate | 724 | 2,622 |
Net (gain) loss on sale of available for sale investment securities | (163) | 67 |
Increase in cash surrender value of company-owned life insurance | (676) | (694) |
Death benefits in excess of cash surrender value on company-owned life insurance | 0 | (276) |
Decrease in accrued interest receivable | 379 | 281 |
Decrease in other assets | 2,436 | 231 |
Decrease in accrued interest payable | (85) | (123) |
Increase in other liabilities | 3,950 | 1,869 |
Net cash provided by operating activities | 21,859 | 24,214 |
Cash Flows from Investing Activities | ||
Proceeds from maturities and calls of available for sale investment securities | 95,665 | 68,702 |
Proceeds from sale of available for sale investment securities | 12,674 | 12,866 |
Purchase of investment securities: | ||
Available for sale | (92,557) | (79,133) |
Held to maturity | 0 | (3,065) |
Proceeds from sale of restricted stock investments, net | 0 | 148 |
Loans originated for investment (greater) less than principal collected, net | (3,806) | 34,554 |
Purchase of premises and equipment | (1,606) | (1,620) |
Proceeds from sale of other real estate | 9,239 | 6,819 |
Proceeds from disposals of premises and equipment | 23 | 5 |
Net cash provided by investing activities | 19,632 | 39,276 |
Cash Flows from Financing Activities | ||
Net decrease in deposits | (30,693) | (45,057) |
Net increase in federal funds purchased and other short-term borrowings | 6,167 | 3,684 |
Proceeds from securities sold under agreements to repurchase and other long-term borrowings | 507 | 7 |
Repayments of securities sold under agreements to repurchase and other long-term borrowings | (116) | (8,128) |
Redemption of preferred stock | (10,000) | (10,000) |
Dividends paid, preferred stock | (508) | (1,500) |
Shares issued under employee stock purchase plan | 93 | 94 |
Net cash used in financing activities | (34,550) | (60,900) |
Net increase in cash and cash equivalents | 6,941 | 2,590 |
Cash and cash equivalents at beginning of year | 100,914 | 68,253 |
Cash and cash equivalents at end of period | 107,855 | 70,843 |
Cash paid during the period for: | ||
Interest | 6,608 | 7,935 |
Income taxes | 1,200 | 1,850 |
Transfers from loans to other real estate | 1,192 | 7,630 |
Sale and financing of other real estate | 403 | 1,771 |
Cash dividends payable, preferred | 0 | 225 |
Employee Stock Purchase Plan Expense [Member] | ||
Net premium amortization of investment securities: | ||
Noncash compensation expense | 24 | 28 |
Director Fee Compensation [Member] | ||
Net premium amortization of investment securities: | ||
Noncash compensation expense | 64 | 64 |
Available-for-sale Securities [Member] | ||
Net premium amortization of investment securities: | ||
Net premium amortization of investment securities | 3,278 | 2,889 |
Held-to-maturity Securities [Member] | ||
Net premium amortization of investment securities: | ||
Net premium amortization of investment securities | $ 39 | $ 29 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Nature of Operations | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation and Nature of Operations The condensed consolidated financial statements include the accounts of Farmers Capital Bank Corporation (the “Company” or “Parent Company”), a bank holding company, and its bank and nonbank subsidiaries. Bank subsidiaries include Farmers Bank & Capital Trust Company (“Farmers Bank”) in Frankfort, KY, United Bank & Trust Company (“United Bank”) in Versailles, KY, First Citizens Bank, Inc. (“First Citizens”) in Elizabethtown, KY, and Citizens Bank of Northern Kentucky, Inc. (“Citizens Northern”) in Newport, KY. Farmers Bank’s significant subsidiaries include EG Properties, Inc. and Farmers Capital Insurance Corporation (“Farmers Insurance”). EG Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Farmers Bank and Farmers Insurance is an insurance agency in Frankfort, KY. United Bank has one wholly-owned subsidiary, EGT Properties, Inc. EGT Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of United Bank. First Citizens has one wholly-owned subsidiary, HBJ Properties, LLC. HBJ Properties, LLC is involved in real estate management and liquidation for certain repossessed properties of First Citizens. Citizens Northern has one wholly-owned subsidiary, ENKY Properties, Inc. ENKY Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Citizens Northern. The Company has two active nonbank subsidiaries, FCB Services, Inc. (“FCB Services”), and FFKT Insurance Services, Inc. (“FFKT Insurance”). FCB Services is a data processing subsidiary located in Frankfort, KY that provides services to the Company’s banks as well as unaffiliated entities. FFKT Insurance is a captive property and casualty insurance company insuring primarily deductible exposures and uncovered liability related to properties of the Company. The Company has three subsidiaries organized as Delaware statutory trusts that are not consolidated into its financial statements. These trusts were formed for the purpose of issuing trust preferred securities. The Company provides financial services at its 35 locations in 22 communities throughout Central and Northern Kentucky to individual, business, agriculture, government, and educational customers. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential mortgage, commercial lending, and consumer installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans and leases are expected to be repaid from cash flow from operations of businesses. Other services include, but are not limited to, cash management services, issuing letters of credit, safe deposit box rental, and providing funds transfer services. Other financial instruments, which potentially represent concentrations of credit risk, include deposit accounts in other financial institutions and federal funds sold. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the condensed financial statements are based on various factors including the current interest rate environment and the general strength of the local and state economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the condensed financial statements. The allowance for loan losses, carrying value of other real estate owned, actuarial assumptions used to calculate postretirement benefits, and the fair values of financial instruments are estimates that are particularly subject to change. The consolidated balance sheet as of December 31, 2014 has been derived from the audited financial statements of the Company as of that date. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2014 included in the Company’s annual report on Form 10-K. The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and the footnotes required by U.S. GAAP for complete statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of such condensed financial statements, have been included. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. All significant intercompany transactions and balances are eliminated in consolidation. |
Note 2 - Reclassifications
Note 2 - Reclassifications | 3 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Reclassifications [Text Block] | 2 . Reclassifications Certain reclassifications have been made to the consolidated financial statements of prior periods to conform to the current period presentation. These reclassifications do not affect net income or total shareholders’ equity as previously reported. |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | 3 . Accumulated Other Comprehensive Income The following table presents changes in accumulated other comprehensive income by component, net of tax, for the periods indicated. Three months ended September 30, 2015 2014 (In thousands) Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ 3,935 $ (1,520 ) $ 2,415 $ 5,021 $ 457 $ 5,478 Other comprehensive income (loss) before reclassifications 1,905 - 1,905 (1,522 ) - (1,522 ) Amounts reclassified from accumulated other comprehensive income (5 ) 15 10 (7 ) 22 15 Net current-period other comprehensive income (loss) 1,900 15 1,915 (1,529 ) 22 (1,507 ) Ending balance $ 5,835 $ (1,505 ) $ 4,330 $ 3,492 $ 479 $ 3,971 Nine months ended September 30, 2015 2014 (In thousands) Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ 5,174 $ (299 ) $ 4,875 $ (3,623 ) $ 411 $ (3,212 ) Other comprehensive income (loss) before reclassifications 747 (1,251 ) (504 ) 7,049 - 7,049 Amounts reclassified from accumulated other comprehensive income (86 ) 45 (41 ) 66 68 134 Net current-period other comprehensive income (loss) 661 (1,206 ) (545 ) 7,115 68 7,183 Ending balance $ 5,835 $ (1,505 ) $ 4,330 $ 3,492 $ 479 $ 3,971 The following table presents amounts reclassified out of accumulated other comprehensive income by component for the period indicated. Line items in the statement of income affected by the reclassification are also presented. Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Three months ended Nine months ended (In thousands) 2015 2014 2015 2014 Unrealized gains and losses on available for sale investment securities $ 8 $ 11 $ 132 $ (102 ) Investment securities gains (losses), net (3 ) (4 ) (46 ) 36 Income tax (expense) benefit $ 5 $ 7 $ 86 $ (66 ) Net of tax Amortization related to postretirement benefits Prior service costs $ (13 ) $ (51 ) $ (38 ) $ (155 ) Salaries and employee benefits Actuarial (losses) gains (10 ) 17 (31 ) 50 Salaries and employee benefits (23 ) (34 ) (69 ) (105 ) Total before tax 8 12 24 37 Income tax benefit $ (15 ) $ (22 ) $ (45 ) $ (68 ) Net of tax Total reclassifications for the period $ (10 ) $ (15 ) $ 41 $ (134 ) Net of tax |
Note 4 - Accounting Policy
Note 4 - Accounting Policy | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 4 . Accounting Policy Loans and Interest Income Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs and deferred fees or costs on originated loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: Portfolio Segment Class Real estate loans Real estate mortgage – construction and land development Real estate mortgage – residential Real estate mortgage – farmland and other commercial enterprises Commercial loans Commercial and industrial Depository institutions Agriculture production and other loans to farmers States and political subdivisions Leases Other Consumer loans Secured Unsecured The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may liquidate the collateral in order to satisfy the amount owed. Determining the value of real estate is a key component to the lending process for real estate backed loans. If the fair value of real estate (less estimated cost to sell) securing a collateral dependent loan declines below the outstanding loan amount, the Company will write down the carrying value of the loan and thereby incur a loss. The Company uses independent third party state certified or licensed appraisers in accordance with its loan policy to mitigate risk when underwriting real estate loans. Cash flow analysis of the borrower, loan to value limits as adopted by loan policy, and other customary underwriting standards are also in place which are designed to maximize credit quality and mitigate risks associated with real estate lending. Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may be secured or unsecured. Loan repayment associated with consumer loans is highly dependent upon the borrower’s continuing financial stability, which is heavily influenced by local unemployment rates. The Company mitigates its risk exposure to each of its loan segments by analyzing the borrower’s repayment capacity, imposing restrictions on the amount it will loan compared to estimated collateral values, limiting the payback periods, and following other customary underwriting practices as adopted in its loan policy. The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 days or more, unless such loan is well secured and in the process of collection. Past due status is based on the contractual terms of the loan. Interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Cash payments received on nonaccrual loans generally are applied to principal until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s policy for placing a loan on nonaccrual status or subsequently returning a loan to accrual status does not differ based on its portfolio class or segment. Commercial and real estate loans delinquent in excess of 120 days and consumer loans delinquent in excess of 180 days are charged off , unless the collateral securing the debt is of such value that any loss appears to be unlikely. In all cases, loans are charged off at an earlier date if classified as loss under the Company’s loan grading process or as a result of regulatory examination. The Company’s charge-off policy for impaired loans does not differ from the charge-off policy for loans outside the definition of impaired . Provision and Allowance for Loan Losses The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral securing loans, composition of the loan portfolio, current economic conditions, and other relevant factors. This evaluation is inherently subjective as it requires significant judgment and the use of estimates that may be susceptible to change. The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Actual loan losses could differ significantly from the amounts estimated by management. The general portion of the Company’s loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective sixteen quarter rolling historical loss rates, adjusted for the qualitative risk factors summarized below. The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis performed at each subsidiary bank and is both measureable and supportable. Some factors include a minimum allocation in some instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: ● Delinquency trends ● Trends in net charge-offs ● Trends in loan volume ● Lending philosophy risk ● Management experience risk ● Concentration of credit risk ● Economic conditions risk A loan is impaired 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 agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company accounts for impaired loans in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables . ” . Loans that are part of a large group of smaller-balance homogeneous loans, such as residential mortgage , consumer, and smaller-balance commercial loans, are collectively evaluated for impairment. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception, or at the fair value of collateral. The Company determines the amount of reserve for troubled debt restructurings that subsequently default in accordance with its accounting policy for the allowance for loan losses. Recently Issued Accounting Standards In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, “Income Statement — Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments prospectively or retrospectively. The Company does not expect there to be a material impact on its consolidated financial position, results of operations, or cash flows upon adoption. In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . ” In May 2015, the FASB issued ASU No. 2015-07, “Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” In August 2015, the FASB issued ASU No. 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date.” Revenue from Contracts with Customers (Topic 606) . ” In August 2015, the FASB issued ASU No. 2015-15, “Interest—Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements—Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting. ” Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, ” The Company does not expect there to be a material impact on its consolidated financial position, results of operations, or cash flows upon adoption. Other accounting standards that have been issued or proposed 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 5 - Net Income Per Common
Note 5 - Net Income Per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 5 . Net Income Per Common Share Basic net income per common share is determined by dividing net income available to common shareholders by the weighted average total number of common shares issued and outstanding. Net income available to common shareholders represents net income adjusted for preferred stock dividends including dividends declared, accretion of discounts on preferred stock issuances, and cumulative dividends related to the current dividend period that have not been declared as of the end of the period. Diluted net income per common share is determined by dividing net income available to common shareholders by the total weighted average number of common shares issued and outstanding plus amounts representing the dilutive effect of stock options outstanding. The effects of stock options outstanding are excluded from the computation of diluted earnings per common share in periods in which the effect would be antidilutive. Dilutive potential common shares are calculated using the treasury stock method. Net income per common share computations were as follows for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share data) 2015 2014 2015 2014 Net income, basic and diluted $ 3,832 $ 4,107 $ 11,408 $ 12,301 Less preferred stock dividends and discount accretion - 450 395 1,550 Net income available to common shareholders, basic and diluted $ 3,832 $ 3,657 $ 11,013 $ 10,751 Average common shares issued and outstanding, basic and diluted 7,495 7,485 7,492 7,482 Net income per common share, basic and diluted $ .51 $ .49 $ 1.47 $ 1.44 Stock options for 18,049 shares of common stock were not included in the determination of diluted net income per common share for each period presented for 2014 because they were antidilutive. All previous options expired during the fourth quarter of 2014. |
Note 6 - Investment Securities
Note 6 - Investment Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6 . Investment Securities The following tables summarize the amortized costs and estimated fair value of the securities portfolio at September 30, 2015 and December 31, 2014. The summary is divided into available for sale and held to maturity investment securities. September 30, 2015 (In thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 126,197 $ 642 $ 155 $ 126,684 Obligations of states and political subdivisions 143,502 2,648 240 145,910 Mortgage-backed securities – residential 306,466 7,254 460 313,260 Mortgage-backed securities – commercial 15,870 205 1 16,074 Corporate debt securities 6,879 16 865 6,030 Mutual funds and equity securities 618 - 66 552 Total securities – available for sale $ 599,532 $ 10,765 $ 1,787 $ 608,510 Held To Maturity Obligations of states and political subdivisions $ 3,689 $ 204 $ - $ 3,893 December 31, 2014 (In thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 110,094 $ 369 $ 1,015 $ 109,448 Obligations of states and political subdivisions 133,563 2,600 397 135,766 Mortgage-backed securities – residential 363,729 7,959 1,199 370,489 Mortgage-backed securities – commercial 2,515 7 10 2,512 Corporate debt securities 6,639 26 358 6,307 Mutual funds and equity securities 1,889 2 25 1,866 Total securities – available for sale $ 618,429 $ 10,963 $ 3,004 $ 626,388 Held To Maturity Obligations of states and political subdivisions $ 3,728 $ 195 $ - $ 3,923 The amortized cost and estimated fair value of the debt securities portfolio at September 30, 2015, by contractual maturity, are detailed below. The summary is divided into available for sale and held to maturity securities. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mutual funds and equity securities in the available for sale portfolio consist of investments attributed to the Company’s captive insurance subsidiary. These securities have no stated maturity and are not included in the maturity schedule that follows. Mortgage-backed securities are stated separately due to the nature of payment and prepayment characteristics of these securities, as principal is not due at a single date. Available For Sale Held To Maturity Amortized Estimated Amortized Estimated September 30, 2015 (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 12,156 $ 12,183 $ - $ - Due after one year through five years 167,082 168,576 - - Due after five years through ten years 80,840 82,061 705 800 Due after ten years 16,500 15,804 2,984 3,093 Mortgage-backed securities 322,336 329,334 - - Total $ 598,914 $ 607,958 $ 3,689 $ 3,893 Gross realized gains and losses on the sale of available for sale investment securities were as follows: Three Months Ended Nine Months Ended September 30 , September 30, (In thousands) 2015 2014 2015 2014 Gross realized gains $ 5 $ 8 $ 185 $ 186 Gross realized losses 7 - 22 253 Net realized (loss) gain $ (2 ) $ 8 $ 163 $ (67 ) Investment securities with unrealized losses at September 30, 2015 and December 31, 2014 not recognized in income are presented in the tables below. The tables segregate investment securities that have been in a continuous unrealized loss position for less than twelve months from those that have been in a continuous unrealized loss position for twelve months or more. The tables also include the fair value of the related securities. Less than 12 Months 12 Months or More Total September 30, 2015 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 10,201 $ 71 $ 17,468 $ 84 $ 27,669 $ 155 Obligations of states and political subdivisions 27,192 159 8,714 81 35,906 240 Mortgage-backed securities – residential 26,332 74 22,958 386 49,290 460 Mortgage-backed securities – commercial 3,167 1 - - 3,167 1 Corporate debt securities 304 11 5,038 854 5,342 865 Mutual funds and equity securities 489 45 63 21 552 66 Total $ 67,685 $ 361 $ 54,241 $ 1,426 $ 121,926 $ 1,787 Less than 12 Months 12 Months or More Total December 31, 2014 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 22,696 $ 76 $ 60,892 $ 939 $ 83,588 $ 1,015 Obligations of states and political subdivisions 20,746 81 21,272 316 42,018 397 Mortgage-backed securities – residential 37,451 82 71,311 1,117 108,762 1,199 Mortgage-backed securities – commercial - - 723 10 723 10 Corporate debt securities 76 4 5,525 354 5,601 358 Mutual funds and equity securities 305 11 95 14 400 25 Total $ 81,274 $ 254 $ 159,818 $ 2,750 $ 241,092 $ 3,004 Unrealized losses included in the tables above have not been recognized in income since they have been identified as temporary. The Company evaluates investment securities for other-than-temporary impairment (“OTTI”) at least quarterly, and more frequently when economic or market conditions warrant. Many factors are considered, including: (1) the length of time and the extent to which the fair value has been less than cost, ( 2) the financial condition and near-term prospects of the issuer, ( 3) whether the market decline was effected by macroeconomic conditions, and ( 4) whether the Company has the intent to sell the security or more likely than not will be required to sell the security before its anticipated recovery. The assessment of whether an OTTI charge exists involves a high degree of subjectivity and judgment and is based on the information available to the Company at a point in time. Corporate debt securities in the Company’s investment securities portfolio at September 30, 2015 include single-issuer trust preferred capital securities with an unrealized loss of $854 thousand and a carrying value of $5.0 million. At year-end 2014, these securities had an unrealized loss of $354 thousand. These securities were issued by a national and global financial services firm and purchased by the Company during 2007. The securities are currently performing and continue to be rated as investment grade by the rating agencies. The issuer of the securities announced in the first quarter of 2015 an increase in per share common dividend payments and authorization of a common equity repurchase plan. The Company does not intend to sell these securities nor does the Company believe it is likely that it will be required to sell these securities prior to their anticipated recovery. The Company believes these securities are not impaired due to reasons of credit quality or other factors, but rather the unrealized loss is primarily attributed to continuing global economic issues and market volatility. The Company believes that it will collect all amounts due according to the contractual terms of these securities and that the fair values of these securities will recover as they approach their maturity dates. The Company attributes the unrealized losses in other sectors of its investment securities portfolio to changes in market interest rates and volatility. Investment securities with unrealized losses at September 30, 2015 are performing according to their contractual terms, and the Company does not expect to incur a loss on these securities unless they are sold prior to maturity. The Company does not have the intent to sell these securities nor does it believe it is likely that it will be required to sell these securities prior to their anticipated recovery. The Company does not consider any of the securities to be impaired due to reasons of credit quality or other factors. |
Note 7 - Loans and Allowance fo
Note 7 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Financing Receivables [Text Block] | 7. Loans and Allowance for Loan Losses Major classifications of loans outstanding are summarized as follows: (In thousands) September 30, December 31, Real Estate: Real estate mortgage – construction and land development $ 107,130 $ 97,045 Real estate mortgage – residential 355,258 361,022 Real estate mortgage – farmland and other commercial enterprises 368,870 375,277 Commercial: Commercial and industrial 51,187 47,112 States and political subdivisions 18,428 22,369 Lease financing 25 159 Other 22,218 15,547 Consumer: Secured 6,787 7,963 Unsecured 5,242 5,450 Total loans 935,145 931,944 Less unearned income - 1 Total loans, net of unearned income $ 935,145 $ 931,943 Activity in the allowance for loan losses by portfolio segment was as follows for the periods indicated. (In thousands) Real Estate Commercial Consumer Total Three months ended September 30, 201 5 Balance, beginning of period $ 10,806 $ 1,057 $ 336 $ 12,199 Provision for loan losses (765 ) (136 ) 3 (898 ) Recoveries 38 145 28 211 Loans charged off (151 ) (42 ) (42 ) (235 ) Balance, end of period $ 9,928 $ 1,024 $ 325 $ 11,277 Nine months ended September 30, 201 5 Balance, beginning of period $ 12,542 $ 1,153 $ 273 $ 13,968 Provision for loan losses (2,552 ) (237 ) 82 (2,707 ) Recoveries 376 176 91 643 Loans charged off (438 ) (68 ) (121 ) (627 ) Balance, end of period $ 9,928 $ 1,024 $ 325 $ 11,277 (In thousands) Real Estate Commercial Consumer Total Three months ended September 30, 201 4 Balance, beginning of period $ 15,448 $ 1,338 $ 337 $ 17,123 Provision for loan losses (1,036 ) (496 ) (4 ) (1,536 ) Recoveries 114 691 20 825 Loans charged off (436 ) (230 ) (54 ) (720 ) Balance, end of period $ 14,090 $ 1,303 $ 299 $ 15,692 Nine months ended September 30, 2014 Balance, beginning of period $ 18,716 $ 1,409 $ 452 $ 20,577 Provision for loan losses (3,395 ) 634 (31 ) (2,792 ) Recoveries 471 736 94 1,301 Loans charged off (1,702 ) (1,476 ) (216 ) (3,394 ) Balance, end of period $ 14,090 $ 1,303 $ 299 $ 15,692 The following tables present individually impaired loans by class of loans for the dates indicated. Unpaid Balance Recorded Recorded Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 10,410 $ 4,373 $ 3,379 $ 7,752 $ 543 Real estate mortgage – residential 9,304 2,588 6,660 9,248 1,149 Real estate mortgage – farmland and other commercial enterprises 21,182 4,200 16,848 21,048 687 Commercial Commercial and industrial 436 - 438 438 261 Consumer Unsecured 161 - 161 161 161 Total $ 41,493 $ 11,161 $ 27,486 $ 38,647 $ 2,801 Unpaid Balance Recorded Recorded Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 13,656 $ 6,902 $ 3,917 $ 10,819 $ 744 Real estate mortgage – residential 10,256 3,473 6,649 10,122 1,172 Real estate mortgage – farmland and other commercial enterprises 23,003 5,247 17,649 22,896 1,359 Commercial Commercial and industrial 93 22 71 93 71 Consumer Unsecured 25 - 25 25 25 Total $ 47,033 $ 15,644 $ 28,311 $ 43,955 $ 3,371 Three Months Ended September 30, 2015 2014 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 9,650 $ 49 $ 47 $ 13,157 $ 46 $ 46 Real estate mortgage – residential 9,416 109 109 10,651 150 143 Real estate mortgage – farmland and other commercial enterprises 20,999 255 252 27,014 359 358 Commercial Commercial and industrial 449 5 5 375 2 2 Consumer Unsecured 161 2 2 30 - - Total $ 40,675 $ 420 $ 415 $ 51,227 $ 557 $ 549 Nine Months Ended September 30, 2015 2014 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 10,382 $ 265 $ 258 $ 14,735 $ 279 $ 275 Real estate mortgage – residential 10,199 364 352 11,137 412 393 Real estate mortgage – farmland and other commercial enterprises 22,931 780 771 29,141 839 816 Commercial Commercial and industrial 563 11 11 290 6 5 Consumer Secured 6 - - Unsecured 118 4 4 56 4 3 Total $ 44,193 $ 1,424 $ 1,396 $ 55,365 $ 1,540 $ 1,492 The following tables present the balance of the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of September 30, 2015 and December 31, 2014. September 30, 2015 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,379 $ 261 $ 161 $ 2,801 Collectively evaluated for impairment 7,549 763 164 8,476 Total ending allowance balance $ 9,928 $ 1,024 $ 325 $ 11,277 Loans Loans individually evaluated for impairment $ 38,048 $ 438 $ 161 $ 38,647 Loans collectively evaluated for impairment 793,210 91,420 11,868 896,498 Total ending loan balance, net of unearned income $ 831,258 $ 91,858 $ 12,029 $ 935,145 December 31, 2014 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3,275 $ 71 $ 25 $ 3,371 Collectively evaluated for impairment 9,267 1,082 248 10,597 Total ending allowance balance $ 12,542 $ 1,153 $ 273 $ 13,968 Loans Loans individually evaluated for impairment $ 43,837 $ 93 $ 25 $ 43,955 Loans collectively evaluated for impairment 789,507 85,093 13,388 887,988 Total ending loan balance, net of unearned income $ 833,344 $ 85,186 $ 13,413 $ 931,943 The following tables present the recorded investment in nonperforming loans by class of loans as of September 30, 2015 and December 31, 2014. September 30, 2015 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate: Real estate mortgage – construction and land development $ 1,861 $ 3,679 $ - Real estate mortgage – residential 2,527 4,350 - Real estate mortgage – farmland and other commercial enterprises 3,739 15,594 - Commercial: Commercial and industrial 55 385 - Other 9 - - Consumer: Secured 10 - - Unsecured - 147 - Total $ 8,201 $ 24,155 $ - December 31, 2014 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate: Real estate mortgage – construction and land development $ 3,744 $ 3,742 $ - Real estate mortgage – residential 3,474 4,674 - Real estate mortgage – farmland and other commercial enterprises 4,202 16,004 - Commercial: Commercial and industrial 81 - - Lease financing 7 - - Consumer: Unsecured - 9 - Total $ 11,508 $ 24,429 $ - The Company has allocated $1.9 million and $2.2 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings and that are in compliance with those terms as of September 30, 2015 and December 31, 2014, respectively. The Company had no commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings at September 30, 2015 and December 31, 2014. The Company had three credits modified as troubled debt restructurings during 2015. Additionally, troubled debt restructurings increased as a result of the purchase of a previously - participated portion of a loan to a nonaffiliated bank during the first quarter of 2015. This loan was participated prior to it being restructured. The purchase price paid represented a discount of $482 thousand or 15% of the purchased principal amount. The loan is performing under the terms of the restructuring and the borrower’s financial position has steadily improved. Accretion of the discount was recognized over the contractual life of the loan, which ended in June 2015. There is no further accretion to be recognized. The total outstanding balance related to this credit, which was renewed during June 2015, was $11.3 million at September 30, 2015. This represents 46.8% of the Company’s total restructured loans and is the largest such individual credit. This credit was restructured in 2012 following an interest rate concession and extended amortization term. The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2015. There were no loans modified as troubled debt restructurings during the three months ended September 30, 2015 or during 2014. (Dollars in thousands) Troubled Debt Restructurings: Number of Loans Pre-Modification Recorded Post-Modification Recorded Nine Months Ended September 30, 201 5 Commercial: Commercial and industrial 2 $ 388 $ 388 Consumer: Secured 1 145 145 Total 3 $ 533 $ 533 The troubled debt restructurings identified above increased the allowance for loan losses by $356 thousand in the nine month period ended September 30, 2015. There were no charge-offs related to these loans. There were no payment defaults during the first nine months of 2015 or 2014 for credits that were restructured during the previous twelve months. The tables below present an age analysis of past due loans 30 days or more by class of loans as of the dates indicated. Past due loans that are also classified as nonaccrual are included in their respective past due category . September 30, 2015 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate: Real estate mortgage – construction and land development $ 2 $ 227 $ 229 $ 106,901 $ 107,130 Real estate mortgage – residential 1,706 698 2,404 352,854 355,258 Real estate mortgage – farmland and other commercial enterprises 876 2,125 3,001 365,869 368,870 Commercial: Commercial and industrial - 19 19 51,168 51,187 States and political subdivisions - - - 18,428 18,428 Lease financing, net 25 - 25 - 25 Other 19 - 19 22,199 22,218 Consumer: Secured 4 - 4 6,783 6,787 Unsecured 23 - 23 5,219 5,242 Total $ 2,655 $ 3,069 $ 5,724 $ 929,421 $ 935,145 December 31, 2014 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate: Real estate mortgage – construction and land development $ - $ 272 $ 272 $ 96,773 $ 97,045 Real estate mortgage – residential 1,395 1,595 2,990 358,032 361,022 Real estate mortgage – farmland and other commercial enterprises 75 3,484 3,559 371,718 375,277 Commercial: Commercial and industrial - 13 13 47,099 47,112 States and political subdivisions - - - 22,369 22,369 Lease financing, net - - - 158 158 Other 40 7 47 15,500 15,547 Consumer: Secured 58 - 58 7,905 7,963 Unsecured 16 1 17 5,433 5,450 Total $ 1,584 $ 5,372 $ 6,956 $ 924,987 $ 931,943 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends and conditions. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes large-balance loans and non-homogeneous loans, such as commercial real estate and certain residential real estate loans. Loan rating grades, as described further below, are assigned based on a continuous process. The amount and adequacy of the allowance for loan loss is determined on a quarterly basis. The Company uses the following definitions for its risk ratings: Special Mention. Substandard. Doubtful. Loans not meeting the criteria above which are analyzed individually as part of the above described process are considered to be pass rated loans, which are considered to have a low risk of loss. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the dates indicated. Each of the following tables excludes immaterial amounts attributed to accrued interest receivable. Real Estate Commercial September 30, 2015 Real Estate Mortgage –Construction and Land Development Real Estate Mortgage –Residential Real Estate Mortgage –Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Lease Financing Other Credit risk profile by internally assigned rating grades: Pass $ 92,979 $ 323,928 $ 327,195 $ 49,697 $ 18,428 $ 25 $ 22,196 Special Mention 4,018 15,791 24,191 999 - - - Substandard 10,133 15,539 17,484 491 - - 22 Doubtful - - - - - - - Total $ 107,130 $ 355,258 $ 368,870 $ 51,187 $ 18,428 $ 25 $ 22,218 Real Estate Commercial December 31, 2014 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage –Residential Real Estate Mortgage –Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Lease Financing Other Credit risk profile by internally assigned rating grades: Pass $ 81,438 $ 326,124 $ 327,019 $ 45,665 $ 22,369 $ 158 $ 15,526 Special Mention 2,674 16,429 27,855 946 - - 14 Substandard 12,933 18,469 19,941 501 - - 7 Doubtful - - 462 - - - - Total $ 97,045 $ 361,022 $ 375,277 $ 47,112 $ 22,369 $ 158 $ 15,547 The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the consumer loans outstanding based on payment activity as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Consumer Consumer (In thousands) Secured Unsecured Secured Unsecured Credit risk profile based on payment activity: Performing $ 6,777 $ 5,095 $ 7,963 $ 5,441 Nonperforming 10 147 - 9 Total $ 6,787 $ 5,242 $ 7,963 $ 5,450 |
Note 8 - Other Real Estate Owne
Note 8 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | 8 . Other Real Estate Owned Other real estate owned (“OREO”) was as follows as of the date indicated: (In thousands) September 30, 2015 December 31, 2014 Construction and land development $ 13,576 $ 17,628 Residential real estate 1,084 2,219 Farmland and other commercial enterprises 8,208 12,113 Total $ 22,868 $ 31,960 OREO activity for the nine months ended September 30, 2015 and 2014 was as follows: Nine months ended September 30, (In thousands) 2015 2014 Beginning balance $ 31,960 $ 37,826 Transfers from loans and other increases 1,274 8,152 Proceeds from sales (9,642 ) (8,590 ) Loss on sales, net (129 ) (546 ) Write downs and other decreases, net (595 ) (2,076 ) Ending balance $ 22,868 $ 34,766 At September 30, 2015, the Company had a total of $1.9 million of loans secured by residential real estate mortgages that were in the process of foreclosure. |
Note 9 - Securities Sold under
Note 9 - Securities Sold under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Long-term Debt [Text Block] | 9 . Securities Sold under Agreements to Repurchase Securities sold under agreements to repurchase represent transactions where the Company sells certain of its investment securities and agrees to repurchase them at a specific date in the future. Securities sold under agreements to repurchase are accounted for as secured borrowing and reflect the amount of cash received in connection with the transaction. Securities sold under agreements to repurchase are collateralized by U.S. government agency securities, primarily mortgage-backed securities. The Company may be required to provide additional collateral securing the borrowings in the event of principal pay downs or a decrease in the market value of the pledged securities. The Company mitigates this risk by monitoring the market value and liquidity of the collateral and ensuring that it holds a sufficient level of eligible securities to cover potential increases in collateral requirements. The following table represents the remaining maturity of repurchase agreements disaggregated by the class of securities pledged. Remaining Contractual Maturity of the Agreements September 30, 2015 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 Days 90 Days to One Year Over One Year to Four Years Total U.S. government agency securities $ 33,357 $ 200 $ - $ 1,714 $ 100,756 $ 136,027 Total $ 33,357 $ 200 $ - $ 1,714 $ 100,756 $ 136,027 |
Note 10 - Postretirement Medica
Note 10 - Postretirement Medical Benefits | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 10 . Postretirement Medical Benefits The Company provides lifetime medical and dental benefits upon retirement for certain employees meeting the eligibility requirements as of December 31, 1989 (“Plan 1”). Additional participants are not eligible to be included in Plan 1 unless they met the requirements on this date. During 2003, the Company implemented an additional postretirement health insurance program (“Plan 2”). Under Plan 2, any employee meeting the service requirement of 20 years of full time service to the Company and is at least age 55 upon retirement is eligible to continue their health insurance coverage. Under both plans, retirees not yet eligible for Medicare have coverage identical to the coverage offered to active employees. Under both plans, Medicare-eligible retirees are provided with a Medicare Advantage plan. The Company pays 100% of the cost of Plan 1. The Company and the retirees each pay 50% of the cost under Plan 2. Both plans are unfunded . The following disclosures of the net periodic benefit cost components of Plan 1 and Plan 2 were measured at January 1, 2015 and 2014 . Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2015 2014 2015 2014 Service cost $ 185 $ 121 $ 554 $ 362 Interest cost 162 142 487 427 Recognized prior service cost 13 51 38 155 Recognized net actuarial loss (gain) 10 (15 ) 31 (47 ) Net periodic benefit cost $ 370 $ 299 $ 1,110 $ 897 The Company expects benefit payments of $359 thousand for 2015, of which $72 thousand and $214 thousand have been made during the three and nine months ended September 30, 2015, respectively. |
Note 11 - Regulatory Matters
Note 11 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 11. Regulatory Matters The Company and its subsidiary banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements will initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the banks must meet specific capital guidelines that involve quantitative measures of the banks’ assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and its subsidiary banks’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In July 2013, U.S. banking regulators adopted final rules related to standards on bank capital adequacy and liquidity (commonly referred to “Basel III”). The new rules were effective for the Company beginning on January 1, 2015, subject to a phase-in period for certain provisions extending through January 1, 2019. The rules include a new common equity Tier 1 capital ratio, an increase to the minimum Tier 1 capital ratio, an increase to risk-weightings of certain assets, implementation of a new capital conservation buffer in excess of the required minimum (which is set to be phased in beginning in 2016), and changes to how regulatory capital is defined. The Company and each of its bank subsidiaries meet the minimum capital ratios and a fully phased-in capital conservation buffer under the new rules. The regulatory ratios of the consolidated Company and its subsidiary banks were as follows for the dates indicated. September 30, 2015 December 31, 2014 Common Equity Tier 1 Risk-based Capital 1 Tier 1 1 Total 1 Tier 1 2 Common Equity Tier 1 Risk-based Capital 1 Tier 1 1 Total 1 Tier 1 2 Consolidated 14.93 % 19.13 % 20.12 % 12.27 % N/A 19.75 % 21.00 % 12.04 % Farmers Bank 16.74 16.74 17.65 9.63 N/A 17.71 18.70 9.40 United Bank 19.04 19.04 20.20 12.82 N/A 18.00 19.26 11.08 First Citizens 14.47 14.47 15.09 9.85 N/A 13.66 14.30 9.44 Citizens Northern 14.26 14.26 15.51 10.31 N/A 14.46 15.71 10.11 1 2 N/A – Not applicable. On June 8, 2015, the Company redeemed the final 10,000 shares of its remaining outstanding Series A preferred stock. The shares were redeemed at the stated liquidation value of $1,000 per share, plus accrued dividends of $58 thousand. The Company originally issued 30,000 shares of its Series A preferred stock in 2009. The redemption was the third and final partial redemption of the original shares issued. No additional debt or equity was issued in connection with any of the shares redeemed. Summary of Regulatory Agreements Citizens Northern. The Federal Deposit Insurance Corporation (“FDIC”) and Kentucky Department of Financial Institutions (“KDFI”) entered into a Memorandum of Understanding (“Memorandum”) with Citizens Northern in September 2010. This Memorandum was terminated and replaced in July 2013. The updated Memorandum included provisions that required the bank to maintain a Tier 1 leverage ratio at or above 9.0% and to obtain regulatory approval before declaring or paying a dividend to the Parent Company. The Memorandum was terminated in August 2015 following a joint examination by the FDIC and KDFI, which found satisfactory compliance with the terms of the Memorandum and overall improvement in financial condition. |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 12 . Fair Value Measurements ASC Topic 820, “Fair Value Measurements and Disclosures , ” “Financial Instruments , ” ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. This Topic describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions supported by little or no market activity, about the assumptions that market participants would use in pricing the asset or liability. Following is a description of the valuation method used for financial instruments measured at fair value on a recurring basis. For this disclosure, the Company only has available for sale investment securities and money market mutual funds classified as cash equivalents that meet the requirement. The carrying value of the $11.2 million in money market mutual funds is equivalent to its fair value and based on Level 1 inputs. Available for sale investment securities Valued primarily by independent third party pricing services under the market valuation approach that include, but are not limited to, the following inputs: ● Mutual funds and equity securities are priced utilizing real-time data feeds from active market exchanges for identical securities and are considered Level 1 inputs. ● Government-sponsored agency debt securities, obligations of states and political subdivisions, mortgage-backed securities, corporate bonds, and other similar investment securities are priced with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources and are considered Level 2 inputs. Available for sale investment securities are the Company’s only balance sheet item that meets the disclosure requirements for instruments measured at fair value on a recurring basis. Disclosures as of September 30, 2015 and December 31, 2014 are as follows: Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Obligations of U.S. government-sponsored entities $ 126,684 $ - $ 126,684 $ - Obligations of states and political subdivisions 145,910 - 145,910 - Mortgage-backed securities – residential 313,260 - 313,260 - Mortgage-backed securities – commercial 16,074 - 16,074 - Corporate debt securities 6,030 - 6,030 - Mutual funds and equity securities 552 552 - - Total $ 608,510 $ 552 $ 607,958 $ - Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2014 Obligations of U.S. government-sponsored entities $ 109,448 $ - $ 109,448 $ - Obligations of states and political subdivisions 135,766 - 135,766 - Mortgage-backed securities – residential 370,489 - 370,489 - Mortgage-backed securities – commercial 2,512 - 2,512 - Corporate debt securities 6,307 - 6,307 - Mutual funds and equity securities 1,866 1,866 - - Total $ 626,388 $ 1,866 $ 624,522 $ - The Company is required to measure and disclose certain other assets and liabilities at fair value on a nonrecurring basis in periods following their initial recognition. The Company’s disclosure about assets and liabilities measured at fair value on a nonrecurring basis consists of impaired loans and OREO. The carrying value of these assets are adjusted to fair value on a nonrecurring basis through impairment charges as described more fully below. Impairment charges on collateral-dependent loans are recorded by either an increase to the provision for loan losses and related allowance or by direct loan charge-offs. The fair value of collateral-dependent impaired loans with specific allocations of the allowance for loan losses is measured based on recent appraisals of the underlying collateral. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraisers take absorption rates into consideration and adjustments are routinely made in the appraisal process to identify differences between the comparable sales and income data available. Such adjustments consist mainly of estimated costs to sell that are not included in certain appraisals or to update appraised collateral values as a result of market declines of similar properties for which a newer appraisal is available. These adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. OREO includes properties acquired by the Company through, or in lieu of, actual loan foreclosures and is carried at fair value less estimated costs to sell. Fair value of OREO at acquisition is generally based on third party appraisals of the property that includes comparable sales data and is considered as Level 3 inputs. The carrying value of each OREO property is updated at least annually and more frequently when market conditions significantly impact the value of the property. If the carrying amount of the OREO exceeds fair value less estimated costs to sell, an impairment loss is recorded through noninterest expense. The following tables represent the carrying amount of assets measured at fair value on a nonrecurring basis and still held by the Company as of the dates indicated. The amounts in the table only represent assets whose carrying amount has been adjusted by impairment charges during the period in a manner as described above; therefore, these amounts will differ from the total amounts outstanding. Collateral-dependent impaired loan amounts in the tables below exclude restructured loans since they are measured based on present value techniques, which are outside the scope of the fair value reporting framework. Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 227 $ 227 Real estate mortgage – residential 678 $ - $ - 678 Total $ 905 $ - $ - $ 905 OREO Construction and land development $ 857 $ - $ - $ 857 Residential real estate 475 - - 475 Farmland and other commercial enterprises 1,614 - - 1,614 Total $ 2,946 $ - $ - $ 2,946 Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 201 4 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 284 $ - $ - $ 284 Real estate mortgage – residential 946 - - 946 Real estate mortgage – farmland and other commercial enterprises 340 - - 340 Total $ 1,570 $ - $ - $ 1,570 OREO Construction and land development $ 8,123 $ - $ - $ 8,123 Residential real estate 863 - - 863 Farmland and other commercial enterprises 5,459 - - 5,459 Total $ 14,445 $ - $ - $ 14,445 The following table represents impairment charges recorded in earnings for the periods indicated on assets measured at fair value on a nonrecurring basis. Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2015 2014 2015 2014 Impairment charges: Collateral-dependent impaired loans $ 24 $ 395 $ 45 $ 611 OREO 29 662 276 1,549 Total $ 53 $ 1,057 $ 321 $ 2,160 The following table presents quantitative information about unobservable inputs for assets measured on a nonrecurring basis using Level 3 measurements. As described above, the fair value of real estate securing collateral-dependent impaired loans and OREO are based on current third party appraisals. It is often necessary, however, for the Company to discount the appraisal amounts supporting its impaired loans and OREO. These discounts relate primarily to marketing and other holding costs that are not included in certain appraisals or to update values as a result of market declines of similar properties for which newer appraisals are available. Discounts also result from contracts to sell properties entered into during the period. The range of discounts is presented in the table below for 2015. The upper end of the range identified in the table below related to OREO is the result of a small dollar property written down to the contract sales price. The weighted average column represents a better indicator of the discounts applied to the appraisals. (In thousands) Fair Value at 2015 Valuation Technique Unobservable Inputs Range Average Collateral-dependent impaired loans $ 905 Discounted appraisals Marketability discount 0% - 8.0 % 6.0 % OREO $ 2,946 Discounted appraisals Marketability discount 2.3% - 26.9 % 6.1 % Fair Value of Financial Instruments The table that follows represents the estimated fair values of the Company’s financial instruments made in accordance with the requirements of ASC 825, “Financial Instruments . ” The following methods and assumptions were used to estimate the fair value of each of the financial instruments in the table that follows . Cash and Cash Equivalents, Accrued Interest Receivable, and Accrued Interest Payable The carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization or settlement. Investment Securities Held to Maturity Fair value is based on quoted market price, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities or with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources. Loans The fair value of loans is estimated by discounting expected future cash flows using current discount rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Expected future cash flows are projected based on contractual cash flows adjusted for estimated prepayments. Federal Home Loan Bank and Federal Reserve Bank Stock It is not practical to determine the fair value of Federal Home Loan Bank and Federal Reserve Bank stock due to restrictions placed on its transferability . Deposit Liabilities The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date and fair value approximates carrying value. The fair value of fixed maturity certificates of deposit is estimated by discounting the expected future cash flows using the rates currently offered for certificates of deposit with similar remaining maturities. Federal Funds Purchased and O ther Short-term Borrowings The carrying amount is the estimated fair value for these borrowings which reprice frequently in the near term. Securities Sold Under Agreements to Repurchase, Subordinated Notes Payable, and Other Long-term Borrowings The fair value of these borrowings is estimated by discounting the expected future cash flows using rates currently available for debt with similar terms and remaining maturities. For subordinated notes payable, the Company uses its best estimate to determine an appropriate discount rate since active markets for similar debt transactions are very limited. Commitments to Extend Credit and Standby Letters of Credit Pricing of these financial instruments is based on the credit quality and relationship, fees, interest rates, probability of funding, compensating balance, and other covenants or requirements. Loan commitments generally have fixed expiration dates, variable interest rates and contain termination and other clauses that provide for relief from funding in the event there is a significant deterioration in the credit quality of the customer. Many loan commitments are expected to, and typically do, expire without being drawn upon. The rates and terms of the Company’s commitments to lend and standby letters of credit are competitive with others in the various markets in which the Company operates. There are no unamortized fees relating to these financial instruments, as such the carrying value and fair value are both zero. The following table presents the estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2015 and December 31, 2014. Information for available for sale investment securities is presented within this footnote in greater detail above. Fair Value Measurements Using (In thousands) Carrying Fair Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Assets Cash and cash equivalents $ 107,855 $ 107,855 $ 107,855 $ - $ - Held to maturity investment securities 3,689 3,893 - 3,893 - Loans, net 923,868 922,241 - - 922,241 Accrued interest receivable 5,246 5,246 - 5,246 - Federal Home Loan Bank and Federal Reserve Bank Stock 9,368 N/A - - - Liabilities Deposits 1,356,468 1,357,045 1,016,440 - 340,605 Federal funds purchased and other short-term borrowings 34,757 34,757 - 34,757 - Securities sold under agreements to repurchase and other long-term borrowings 120,115 128,505 - 128,505 - Subordinated notes payable to unconsolidated trusts 48,970 29,203 - - 29,203 Accrued interest payable 859 859 - 859 - December 31 , 201 4 Assets Cash and cash equivalents $ 100,914 $ 100,914 $ 100,914 $ - $ - Held to maturity investment securities 3,728 3,923 - 3,923 - Loans, net 917,975 918,697 - - 918,697 Accrued interest receivable 5,625 5,625 - 5,625 - Federal Home Loan Bank and Federal Reserve Bank Stock 9,368 N/A - - - Liabilities Deposits 1,387,161 1,388,614 991,630 - 396,984 Federal funds purchased and other short-term borrowings 28,590 28,590 - 28,590 - Securities sold under agreements to repurchase and other long-term borrowings 119,724 129,244 - 129,244 - Subordinated notes payable to unconsolidated trusts 48,970 22,594 - - 22,594 Accrued interest payable 944 944 - 944 - |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans and Interest Income Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs and deferred fees or costs on originated loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: Portfolio Segment Class Real estate loans Real estate mortgage – construction and land development Real estate mortgage – residential Real estate mortgage – farmland and other commercial enterprises Commercial loans Commercial and industrial Depository institutions Agriculture production and other loans to farmers States and political subdivisions Leases Other Consumer loans Secured Unsecured The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may liquidate the collateral in order to satisfy the amount owed. Determining the value of real estate is a key component to the lending process for real estate backed loans. If the fair value of real estate (less estimated cost to sell) securing a collateral dependent loan declines below the outstanding loan amount, the Company will write down the carrying value of the loan and thereby incur a loss. The Company uses independent third party state certified or licensed appraisers in accordance with its loan policy to mitigate risk when underwriting real estate loans. Cash flow analysis of the borrower, loan to value limits as adopted by loan policy, and other customary underwriting standards are also in place which are designed to maximize credit quality and mitigate risks associated with real estate lending. Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may be secured or unsecured. Loan repayment associated with consumer loans is highly dependent upon the borrower’s continuing financial stability, which is heavily influenced by local unemployment rates. The Company mitigates its risk exposure to each of its loan segments by analyzing the borrower’s repayment capacity, imposing restrictions on the amount it will loan compared to estimated collateral values, limiting the payback periods, and following other customary underwriting practices as adopted in its loan policy. The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 days or more, unless such loan is well secured and in the process of collection. Past due status is based on the contractual terms of the loan. Interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Cash payments received on nonaccrual loans generally are applied to principal until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s policy for placing a loan on nonaccrual status or subsequently returning a loan to accrual status does not differ based on its portfolio class or segment. Commercial and real estate loans delinquent in excess of 120 days and consumer loans delinquent in excess of 180 days are charged off , unless the collateral securing the debt is of such value that any loss appears to be unlikely. In all cases, loans are charged off at an earlier date if classified as loss under the Company’s loan grading process or as a result of regulatory examination. The Company’s charge-off policy for impaired loans does not differ from the charge-off policy for loans outside the definition of impaired . |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Provision and Allowance for Loan Losses The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral securing loans, composition of the loan portfolio, current economic conditions, and other relevant factors. This evaluation is inherently subjective as it requires significant judgment and the use of estimates that may be susceptible to change. The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Actual loan losses could differ significantly from the amounts estimated by management. The general portion of the Company’s loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective sixteen quarter rolling historical loss rates, adjusted for the qualitative risk factors summarized below. The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis performed at each subsidiary bank and is both measureable and supportable. Some factors include a minimum allocation in some instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: ● Delinquency trends ● Trends in net charge-offs ● Trends in loan volume ● Lending philosophy risk ● Management experience risk ● Concentration of credit risk ● Economic conditions risk A loan is impaired 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 agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company accounts for impaired loans in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables . ” . Loans that are part of a large group of smaller-balance homogeneous loans, such as residential mortgage , consumer, and smaller-balance commercial loans, are collectively evaluated for impairment. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception, or at the fair value of collateral. The Company determines the amount of reserve for troubled debt restructurings that subsequently default in accordance with its accounting policy for the allowance for loan losses. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In January 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-01, “Income Statement — Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments prospectively or retrospectively. The Company does not expect there to be a material impact on its consolidated financial position, results of operations, or cash flows upon adoption. In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . ” In May 2015, the FASB issued ASU No. 2015-07, “Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” In August 2015, the FASB issued ASU No. 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date.” Revenue from Contracts with Customers (Topic 606) . ” In August 2015, the FASB issued ASU No. 2015-15, “Interest—Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements—Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting. ” Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, ” The Company does not expect there to be a material impact on its consolidated financial position, results of operations, or cash flows upon adoption. Other accounting standards that have been issued or proposed 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 - Accumulated Other Co23
Note 3 - Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2015 2014 (In thousands) Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ 3,935 $ (1,520 ) $ 2,415 $ 5,021 $ 457 $ 5,478 Other comprehensive income (loss) before reclassifications 1,905 - 1,905 (1,522 ) - (1,522 ) Amounts reclassified from accumulated other comprehensive income (5 ) 15 10 (7 ) 22 15 Net current-period other comprehensive income (loss) 1,900 15 1,915 (1,529 ) 22 (1,507 ) Ending balance $ 5,835 $ (1,505 ) $ 4,330 $ 3,492 $ 479 $ 3,971 Nine months ended September 30, 2015 2014 (In thousands) Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Unrealized Gains and Losses on Available for Sale Investment Securities Postretirement Benefit Obligation Total Beginning balance $ 5,174 $ (299 ) $ 4,875 $ (3,623 ) $ 411 $ (3,212 ) Other comprehensive income (loss) before reclassifications 747 (1,251 ) (504 ) 7,049 - 7,049 Amounts reclassified from accumulated other comprehensive income (86 ) 45 (41 ) 66 68 134 Net current-period other comprehensive income (loss) 661 (1,206 ) (545 ) 7,115 68 7,183 Ending balance $ 5,835 $ (1,505 ) $ 4,330 $ 3,492 $ 479 $ 3,971 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Three months ended Nine months ended (In thousands) 2015 2014 2015 2014 Unrealized gains and losses on available for sale investment securities $ 8 $ 11 $ 132 $ (102 ) Investment securities gains (losses), net (3 ) (4 ) (46 ) 36 Income tax (expense) benefit $ 5 $ 7 $ 86 $ (66 ) Net of tax Amortization related to postretirement benefits Prior service costs $ (13 ) $ (51 ) $ (38 ) $ (155 ) Salaries and employee benefits Actuarial (losses) gains (10 ) 17 (31 ) 50 Salaries and employee benefits (23 ) (34 ) (69 ) (105 ) Total before tax 8 12 24 37 Income tax benefit $ (15 ) $ (22 ) $ (45 ) $ (68 ) Net of tax Total reclassifications for the period $ (10 ) $ (15 ) $ 41 $ (134 ) Net of tax |
Note 5 - Net Income Per Commo24
Note 5 - Net Income Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share data) 2015 2014 2015 2014 Net income, basic and diluted $ 3,832 $ 4,107 $ 11,408 $ 12,301 Less preferred stock dividends and discount accretion - 450 395 1,550 Net income available to common shareholders, basic and diluted $ 3,832 $ 3,657 $ 11,013 $ 10,751 Average common shares issued and outstanding, basic and diluted 7,495 7,485 7,492 7,482 Net income per common share, basic and diluted $ .51 $ .49 $ 1.47 $ 1.44 |
Note 6 - Investment Securities
Note 6 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of AFS and HTM Reconciliation [Table Text Block] | September 30, 2015 (In thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 126,197 $ 642 $ 155 $ 126,684 Obligations of states and political subdivisions 143,502 2,648 240 145,910 Mortgage-backed securities – residential 306,466 7,254 460 313,260 Mortgage-backed securities – commercial 15,870 205 1 16,074 Corporate debt securities 6,879 16 865 6,030 Mutual funds and equity securities 618 - 66 552 Total securities – available for sale $ 599,532 $ 10,765 $ 1,787 $ 608,510 Held To Maturity Obligations of states and political subdivisions $ 3,689 $ 204 $ - $ 3,893 December 31, 2014 (In thousands) Amortized Gross Unrealized Gains Gross Unrealized Losses Estimated Available For Sale Obligations of U.S. government-sponsored entities $ 110,094 $ 369 $ 1,015 $ 109,448 Obligations of states and political subdivisions 133,563 2,600 397 135,766 Mortgage-backed securities – residential 363,729 7,959 1,199 370,489 Mortgage-backed securities – commercial 2,515 7 10 2,512 Corporate debt securities 6,639 26 358 6,307 Mutual funds and equity securities 1,889 2 25 1,866 Total securities – available for sale $ 618,429 $ 10,963 $ 3,004 $ 626,388 Held To Maturity Obligations of states and political subdivisions $ 3,728 $ 195 $ - $ 3,923 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available For Sale Held To Maturity Amortized Estimated Amortized Estimated September 30, 2015 (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 12,156 $ 12,183 $ - $ - Due after one year through five years 167,082 168,576 - - Due after five years through ten years 80,840 82,061 705 800 Due after ten years 16,500 15,804 2,984 3,093 Mortgage-backed securities 322,336 329,334 - - Total $ 598,914 $ 607,958 $ 3,689 $ 3,893 |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended Nine Months Ended September 30 , September 30, (In thousands) 2015 2014 2015 2014 Gross realized gains $ 5 $ 8 $ 185 $ 186 Gross realized losses 7 - 22 253 Net realized (loss) gain $ (2 ) $ 8 $ 163 $ (67 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total September 30, 2015 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 10,201 $ 71 $ 17,468 $ 84 $ 27,669 $ 155 Obligations of states and political subdivisions 27,192 159 8,714 81 35,906 240 Mortgage-backed securities – residential 26,332 74 22,958 386 49,290 460 Mortgage-backed securities – commercial 3,167 1 - - 3,167 1 Corporate debt securities 304 11 5,038 854 5,342 865 Mutual funds and equity securities 489 45 63 21 552 66 Total $ 67,685 $ 361 $ 54,241 $ 1,426 $ 121,926 $ 1,787 Less than 12 Months 12 Months or More Total December 31, 2014 (In thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of U.S. government-sponsored entities $ 22,696 $ 76 $ 60,892 $ 939 $ 83,588 $ 1,015 Obligations of states and political subdivisions 20,746 81 21,272 316 42,018 397 Mortgage-backed securities – residential 37,451 82 71,311 1,117 108,762 1,199 Mortgage-backed securities – commercial - - 723 10 723 10 Corporate debt securities 76 4 5,525 354 5,601 358 Mutual funds and equity securities 305 11 95 14 400 25 Total $ 81,274 $ 254 $ 159,818 $ 2,750 $ 241,092 $ 3,004 |
Note 7 - Loans and Allowance 26
Note 7 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Note 7 - Loans and Allowance for Loan Losses (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) September 30, December 31, Real Estate: Real estate mortgage – construction and land development $ 107,130 $ 97,045 Real estate mortgage – residential 355,258 361,022 Real estate mortgage – farmland and other commercial enterprises 368,870 375,277 Commercial: Commercial and industrial 51,187 47,112 States and political subdivisions 18,428 22,369 Lease financing 25 159 Other 22,218 15,547 Consumer: Secured 6,787 7,963 Unsecured 5,242 5,450 Total loans 935,145 931,944 Less unearned income - 1 Total loans, net of unearned income $ 935,145 $ 931,943 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (In thousands) Real Estate Commercial Consumer Total Three months ended September 30, 201 5 Balance, beginning of period $ 10,806 $ 1,057 $ 336 $ 12,199 Provision for loan losses (765 ) (136 ) 3 (898 ) Recoveries 38 145 28 211 Loans charged off (151 ) (42 ) (42 ) (235 ) Balance, end of period $ 9,928 $ 1,024 $ 325 $ 11,277 Nine months ended September 30, 201 5 Balance, beginning of period $ 12,542 $ 1,153 $ 273 $ 13,968 Provision for loan losses (2,552 ) (237 ) 82 (2,707 ) Recoveries 376 176 91 643 Loans charged off (438 ) (68 ) (121 ) (627 ) Balance, end of period $ 9,928 $ 1,024 $ 325 $ 11,277 (In thousands) Real Estate Commercial Consumer Total Three months ended September 30, 201 4 Balance, beginning of period $ 15,448 $ 1,338 $ 337 $ 17,123 Provision for loan losses (1,036 ) (496 ) (4 ) (1,536 ) Recoveries 114 691 20 825 Loans charged off (436 ) (230 ) (54 ) (720 ) Balance, end of period $ 14,090 $ 1,303 $ 299 $ 15,692 Nine months ended September 30, 2014 Balance, beginning of period $ 18,716 $ 1,409 $ 452 $ 20,577 Provision for loan losses (3,395 ) 634 (31 ) (2,792 ) Recoveries 471 736 94 1,301 Loans charged off (1,702 ) (1,476 ) (216 ) (3,394 ) Balance, end of period $ 14,090 $ 1,303 $ 299 $ 15,692 |
Impaired Financing Receivables [Table Text Block] | Unpaid Balance Recorded Recorded Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 10,410 $ 4,373 $ 3,379 $ 7,752 $ 543 Real estate mortgage – residential 9,304 2,588 6,660 9,248 1,149 Real estate mortgage – farmland and other commercial enterprises 21,182 4,200 16,848 21,048 687 Commercial Commercial and industrial 436 - 438 438 261 Consumer Unsecured 161 - 161 161 161 Total $ 41,493 $ 11,161 $ 27,486 $ 38,647 $ 2,801 Unpaid Balance Recorded Recorded Total Recorded Investment Allowance for Real Estate Real estate mortgage – construction and land development $ 13,656 $ 6,902 $ 3,917 $ 10,819 $ 744 Real estate mortgage – residential 10,256 3,473 6,649 10,122 1,172 Real estate mortgage – farmland and other commercial enterprises 23,003 5,247 17,649 22,896 1,359 Commercial Commercial and industrial 93 22 71 93 71 Consumer Unsecured 25 - 25 25 25 Total $ 47,033 $ 15,644 $ 28,311 $ 43,955 $ 3,371 |
Loans and ALL Disaggregated Impairment Method [Table Text Block] | September 30, 2015 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 2,379 $ 261 $ 161 $ 2,801 Collectively evaluated for impairment 7,549 763 164 8,476 Total ending allowance balance $ 9,928 $ 1,024 $ 325 $ 11,277 Loans Loans individually evaluated for impairment $ 38,048 $ 438 $ 161 $ 38,647 Loans collectively evaluated for impairment 793,210 91,420 11,868 896,498 Total ending loan balance, net of unearned income $ 831,258 $ 91,858 $ 12,029 $ 935,145 December 31, 2014 (In thousands) Real Estate Commercial Consumer Total Allowance for Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3,275 $ 71 $ 25 $ 3,371 Collectively evaluated for impairment 9,267 1,082 248 10,597 Total ending allowance balance $ 12,542 $ 1,153 $ 273 $ 13,968 Loans Loans individually evaluated for impairment $ 43,837 $ 93 $ 25 $ 43,955 Loans collectively evaluated for impairment 789,507 85,093 13,388 887,988 Total ending loan balance, net of unearned income $ 833,344 $ 85,186 $ 13,413 $ 931,943 |
Non-performing Loans Including TDR's [Table Text Block] | September 30, 2015 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate: Real estate mortgage – construction and land development $ 1,861 $ 3,679 $ - Real estate mortgage – residential 2,527 4,350 - Real estate mortgage – farmland and other commercial enterprises 3,739 15,594 - Commercial: Commercial and industrial 55 385 - Other 9 - - Consumer: Secured 10 - - Unsecured - 147 - Total $ 8,201 $ 24,155 $ - December 31, 2014 (In thousands) Nonaccrual Restructured Loans Loans Past Due 90 Days or More and Still Accruing Real Estate: Real estate mortgage – construction and land development $ 3,744 $ 3,742 $ - Real estate mortgage – residential 3,474 4,674 - Real estate mortgage – farmland and other commercial enterprises 4,202 16,004 - Commercial: Commercial and industrial 81 - - Lease financing 7 - - Consumer: Unsecured - 9 - Total $ 11,508 $ 24,429 $ - |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Dollars in thousands) Troubled Debt Restructurings: Number of Loans Pre-Modification Recorded Post-Modification Recorded Nine Months Ended September 30, 201 5 Commercial: Commercial and industrial 2 $ 388 $ 388 Consumer: Secured 1 145 145 Total 3 $ 533 $ 533 |
Past Due Financing Receivables [Table Text Block] | September 30, 2015 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate: Real estate mortgage – construction and land development $ 2 $ 227 $ 229 $ 106,901 $ 107,130 Real estate mortgage – residential 1,706 698 2,404 352,854 355,258 Real estate mortgage – farmland and other commercial enterprises 876 2,125 3,001 365,869 368,870 Commercial: Commercial and industrial - 19 19 51,168 51,187 States and political subdivisions - - - 18,428 18,428 Lease financing, net 25 - 25 - 25 Other 19 - 19 22,199 22,218 Consumer: Secured 4 - 4 6,783 6,787 Unsecured 23 - 23 5,219 5,242 Total $ 2,655 $ 3,069 $ 5,724 $ 929,421 $ 935,145 December 31, 2014 (In thousands) 30-89 Days Past Due 90 Days or More Past Due Total Current Total Loans Real Estate: Real estate mortgage – construction and land development $ - $ 272 $ 272 $ 96,773 $ 97,045 Real estate mortgage – residential 1,395 1,595 2,990 358,032 361,022 Real estate mortgage – farmland and other commercial enterprises 75 3,484 3,559 371,718 375,277 Commercial: Commercial and industrial - 13 13 47,099 47,112 States and political subdivisions - - - 22,369 22,369 Lease financing, net - - - 158 158 Other 40 7 47 15,500 15,547 Consumer: Secured 58 - 58 7,905 7,963 Unsecured 16 1 17 5,433 5,450 Total $ 1,584 $ 5,372 $ 6,956 $ 924,987 $ 931,943 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Real Estate Commercial September 30, 2015 Real Estate Mortgage –Construction and Land Development Real Estate Mortgage –Residential Real Estate Mortgage –Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Lease Financing Other Credit risk profile by internally assigned rating grades: Pass $ 92,979 $ 323,928 $ 327,195 $ 49,697 $ 18,428 $ 25 $ 22,196 Special Mention 4,018 15,791 24,191 999 - - - Substandard 10,133 15,539 17,484 491 - - 22 Doubtful - - - - - - - Total $ 107,130 $ 355,258 $ 368,870 $ 51,187 $ 18,428 $ 25 $ 22,218 Real Estate Commercial December 31, 2014 Real Estate Mortgage – Construction and Land Development Real Estate Mortgage –Residential Real Estate Mortgage –Farmland and Other Commercial Enterprises Commercial and Industrial States and Political Subdivisions Lease Financing Other Credit risk profile by internally assigned rating grades: Pass $ 81,438 $ 326,124 $ 327,019 $ 45,665 $ 22,369 $ 158 $ 15,526 Special Mention 2,674 16,429 27,855 946 - - 14 Substandard 12,933 18,469 19,941 501 - - 7 Doubtful - - 462 - - - - Total $ 97,045 $ 361,022 $ 375,277 $ 47,112 $ 22,369 $ 158 $ 15,547 |
Credit Quality Consumer Loans [Table Text Block] | September 30, 2015 December 31, 2014 Consumer Consumer (In thousands) Secured Unsecured Secured Unsecured Credit risk profile based on payment activity: Performing $ 6,777 $ 5,095 $ 7,963 $ 5,441 Nonperforming 10 147 - 9 Total $ 6,787 $ 5,242 $ 7,963 $ 5,450 |
Additional Information Regarding Impaired Loans [Member] | |
Note 7 - Loans and Allowance for Loan Losses (Tables) [Line Items] | |
Impaired Financing Receivables [Table Text Block] | Three Months Ended September 30, 2015 2014 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 9,650 $ 49 $ 47 $ 13,157 $ 46 $ 46 Real estate mortgage – residential 9,416 109 109 10,651 150 143 Real estate mortgage – farmland and other commercial enterprises 20,999 255 252 27,014 359 358 Commercial Commercial and industrial 449 5 5 375 2 2 Consumer Unsecured 161 2 2 30 - - Total $ 40,675 $ 420 $ 415 $ 51,227 $ 557 $ 549 Nine Months Ended September 30, 2015 2014 (In thousands) Average Interest Income Recognized Cash Basis Interest Recognized Average Interest Income Recognized Cash Basis Interest Recognized Real Estate Real estate mortgage – construction and land development $ 10,382 $ 265 $ 258 $ 14,735 $ 279 $ 275 Real estate mortgage – residential 10,199 364 352 11,137 412 393 Real estate mortgage – farmland and other commercial enterprises 22,931 780 771 29,141 839 816 Commercial Commercial and industrial 563 11 11 290 6 5 Consumer Secured 6 - - Unsecured 118 4 4 56 4 3 Total $ 44,193 $ 1,424 $ 1,396 $ 55,365 $ 1,540 $ 1,492 |
Note 8 - Other Real Estate Ow27
Note 8 - Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
OREO Detail [Table Text Block] | (In thousands) September 30, 2015 December 31, 2014 Construction and land development $ 13,576 $ 17,628 Residential real estate 1,084 2,219 Farmland and other commercial enterprises 8,208 12,113 Total $ 22,868 $ 31,960 |
OREO Activity [Table Text Block] | Nine months ended September 30, (In thousands) 2015 2014 Beginning balance $ 31,960 $ 37,826 Transfers from loans and other increases 1,274 8,152 Proceeds from sales (9,642 ) (8,590 ) Loss on sales, net (129 ) (546 ) Write downs and other decreases, net (595 ) (2,076 ) Ending balance $ 22,868 $ 34,766 |
Note 9 - Securities Sold unde28
Note 9 - Securities Sold under Agreements to Repurchase (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | Remaining Contractual Maturity of the Agreements September 30, 2015 (In thousands) Overnight/ Continuous Less Than 30 Days 30-89 Days 90 Days to One Year Over One Year to Four Years Total U.S. government agency securities $ 33,357 $ 200 $ - $ 1,714 $ 100,756 $ 136,027 Total $ 33,357 $ 200 $ - $ 1,714 $ 100,756 $ 136,027 |
Note 10 - Postretirement Medi29
Note 10 - Postretirement Medical Benefits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2015 2014 2015 2014 Service cost $ 185 $ 121 $ 554 $ 362 Interest cost 162 142 487 427 Recognized prior service cost 13 51 38 155 Recognized net actuarial loss (gain) 10 (15 ) 31 (47 ) Net periodic benefit cost $ 370 $ 299 $ 1,110 $ 897 |
Note 11 - Regulatory Matters (T
Note 11 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | September 30, 2015 December 31, 2014 Common Equity Tier 1 Risk-based Capital 1 Tier 1 1 Total 1 Tier 1 2 Common Equity Tier 1 Risk-based Capital 1 Tier 1 1 Total 1 Tier 1 2 Consolidated 14.93 % 19.13 % 20.12 % 12.27 % N/A 19.75 % 21.00 % 12.04 % Farmers Bank 16.74 16.74 17.65 9.63 N/A 17.71 18.70 9.40 United Bank 19.04 19.04 20.20 12.82 N/A 18.00 19.26 11.08 First Citizens 14.47 14.47 15.09 9.85 N/A 13.66 14.30 9.44 Citizens Northern 14.26 14.26 15.51 10.31 N/A 14.46 15.71 10.11 |
Note 12 - Fair Value Measurem31
Note 12 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Obligations of U.S. government-sponsored entities $ 126,684 $ - $ 126,684 $ - Obligations of states and political subdivisions 145,910 - 145,910 - Mortgage-backed securities – residential 313,260 - 313,260 - Mortgage-backed securities – commercial 16,074 - 16,074 - Corporate debt securities 6,030 - 6,030 - Mutual funds and equity securities 552 552 - - Total $ 608,510 $ 552 $ 607,958 $ - Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2014 Obligations of U.S. government-sponsored entities $ 109,448 $ - $ 109,448 $ - Obligations of states and political subdivisions 135,766 - 135,766 - Mortgage-backed securities – residential 370,489 - 370,489 - Mortgage-backed securities – commercial 2,512 - 2,512 - Corporate debt securities 6,307 - 6,307 - Mutual funds and equity securities 1,866 1,866 - - Total $ 626,388 $ 1,866 $ 624,522 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 227 $ 227 Real estate mortgage – residential 678 $ - $ - 678 Total $ 905 $ - $ - $ 905 OREO Construction and land development $ 857 $ - $ - $ 857 Residential real estate 475 - - 475 Farmland and other commercial enterprises 1,614 - - 1,614 Total $ 2,946 $ - $ - $ 2,946 Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, 201 4 Collateral-dependent Impaired Loans Real estate mortgage – construction and land development $ 284 $ - $ - $ 284 Real estate mortgage – residential 946 - - 946 Real estate mortgage – farmland and other commercial enterprises 340 - - 340 Total $ 1,570 $ - $ - $ 1,570 OREO Construction and land development $ 8,123 $ - $ - $ 8,123 Residential real estate 863 - - 863 Farmland and other commercial enterprises 5,459 - - 5,459 Total $ 14,445 $ - $ - $ 14,445 |
Asset Impairment Charges on Assets Nonrecurring [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2015 2014 2015 2014 Impairment charges: Collateral-dependent impaired loans $ 24 $ 395 $ 45 $ 611 OREO 29 662 276 1,549 Total $ 53 $ 1,057 $ 321 $ 2,160 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | (In thousands) Fair Value at 2015 Valuation Technique Unobservable Inputs Range Average Collateral-dependent impaired loans $ 905 Discounted appraisals Marketability discount 0% - 8.0 % 6.0 % OREO $ 2,946 Discounted appraisals Marketability discount 2.3% - 26.9 % 6.1 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using (In thousands) Carrying Fair Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs September 30 , 201 5 Assets Cash and cash equivalents $ 107,855 $ 107,855 $ 107,855 $ - $ - Held to maturity investment securities 3,689 3,893 - 3,893 - Loans, net 923,868 922,241 - - 922,241 Accrued interest receivable 5,246 5,246 - 5,246 - Federal Home Loan Bank and Federal Reserve Bank Stock 9,368 N/A - - - Liabilities Deposits 1,356,468 1,357,045 1,016,440 - 340,605 Federal funds purchased and other short-term borrowings 34,757 34,757 - 34,757 - Securities sold under agreements to repurchase and other long-term borrowings 120,115 128,505 - 128,505 - Subordinated notes payable to unconsolidated trusts 48,970 29,203 - - 29,203 Accrued interest payable 859 859 - 859 - December 31 , 201 4 Assets Cash and cash equivalents $ 100,914 $ 100,914 $ 100,914 $ - $ - Held to maturity investment securities 3,728 3,923 - 3,923 - Loans, net 917,975 918,697 - - 918,697 Accrued interest receivable 5,625 5,625 - 5,625 - Federal Home Loan Bank and Federal Reserve Bank Stock 9,368 N/A - - - Liabilities Deposits 1,387,161 1,388,614 991,630 - 396,984 Federal funds purchased and other short-term borrowings 28,590 28,590 - 28,590 - Securities sold under agreements to repurchase and other long-term borrowings 119,724 129,244 - 129,244 - Subordinated notes payable to unconsolidated trusts 48,970 22,594 - - 22,594 Accrued interest payable 944 944 - 944 - |
Note 3 - Accumulated Other Co32
Note 3 - Accumulated Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income by Component - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 2,415 | $ 5,478 | $ 4,875 | $ (3,212) |
Other comprehensive income (loss) before reclassifications | 1,905 | (1,522) | (504) | 7,049 |
Amounts reclassified from accumulated other comprehensive income | 10 | 15 | (41) | 134 |
Net current-period other comprehensive income (loss) | 1,915 | (1,507) | (545) | 7,183 |
Ending balance | 4,330 | 3,971 | 4,330 | 3,971 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 3,935 | 5,021 | 5,174 | (3,623) |
Other comprehensive income (loss) before reclassifications | 1,905 | (1,522) | 747 | 7,049 |
Amounts reclassified from accumulated other comprehensive income | (5) | (7) | (86) | 66 |
Net current-period other comprehensive income (loss) | 1,900 | (1,529) | 661 | 7,115 |
Ending balance | 5,835 | 3,492 | 5,835 | 3,492 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (1,520) | 457 | (299) | 411 |
Other comprehensive income (loss) before reclassifications | 0 | 0 | (1,251) | 0 |
Amounts reclassified from accumulated other comprehensive income | 15 | 22 | 45 | 68 |
Net current-period other comprehensive income (loss) | 15 | 22 | (1,206) | 68 |
Ending balance | $ (1,505) | $ 479 | $ (1,505) | $ 479 |
Note 3 - Accumulated Other Co33
Note 3 - Accumulated Other Comprehensive Income (Details) - Amounts Reclassified out of Accumulated Other Comprehensive Income by Component - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | $ (1,439) | $ (1,283) | $ (4,213) | $ (4,362) |
Net of tax | 3,832 | 3,657 | 11,013 | 10,751 |
5,271 | 5,390 | 15,621 | 16,663 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net of tax | (10) | (15) | 41 | (134) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Unrealized gains and losses on available for sale investment securities | 8 | 11 | 132 | (102) |
Income tax expense | (3) | (4) | (46) | 36 |
Net of tax | 5 | 7 | 86 | (66) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | 8 | 12 | 24 | 37 |
Net of tax | (15) | (22) | (45) | (68) |
Prior service costs | (13) | (51) | (38) | (155) |
Actuarial (losses) gains | (10) | 17 | (31) | 50 |
$ (23) | $ (34) | $ (69) | $ (105) |
Note 5 - Net Income Per Commo34
Note 5 - Net Income Per Common Share (Details) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | |
Equity Option [Member] | ||
Note 5 - Net Income Per Common Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 18,049 | 18,049 |
Note 5 - Net Income Per Commo35
Note 5 - Net Income Per Common Share (Details) - Net Income Per Common Share Computations - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net Income Per Common Share Computations [Abstract] | ||||
Net income, basic and diluted | $ 3,832 | $ 4,107 | $ 11,408 | $ 12,301 |
Less preferred stock dividends and discount accretion | 0 | 450 | 395 | 1,550 |
Net income available to common shareholders, basic and diluted | $ 3,832 | $ 3,657 | $ 11,013 | $ 10,751 |
Average common shares issued and outstanding, basic and diluted (in Shares) | 7,495 | 7,485 | 7,492 | 7,482 |
Net income per common share, basic and diluted (in Dollars per share) | $ 0.51 | $ 0.49 | $ 1.47 | $ 1.44 |
Note 6 - Investment Securitie36
Note 6 - Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 6 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 1,787 | $ 3,004 |
Available-for-sale Securities | 608,510 | 626,388 |
Single Issuer Corporate Debt Security [Member] | ||
Note 6 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 854 | $ 354 |
Available-for-sale Securities | $ 5,000 |
Note 6 - Investment Securitie37
Note 6 - Investment Securities (Details) - The Amortized Costs and Estimated Fair Value of the Securities Portfolio - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | $ 599,532 | $ 618,429 |
Available for Sale Investment Securities - Gross Unrealized Gains | 10,765 | 10,963 |
Available for Sale Investment Securities - Gross Unrealized Losses | 1,787 | 3,004 |
Available for Sale Investment Securities | 608,510 | 626,388 |
Held To Maturity | ||
Held to Maturity Securities - Amortized Cost | 3,689 | 3,728 |
Held to Maturity Securities - Estimated Fair Value | 3,893 | 3,923 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 126,197 | 110,094 |
Available for Sale Investment Securities - Gross Unrealized Gains | 642 | 369 |
Available for Sale Investment Securities - Gross Unrealized Losses | 155 | 1,015 |
Available for Sale Investment Securities | 126,684 | 109,448 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 143,502 | 133,563 |
Available for Sale Investment Securities - Gross Unrealized Gains | 2,648 | 2,600 |
Available for Sale Investment Securities - Gross Unrealized Losses | 240 | 397 |
Available for Sale Investment Securities | 145,910 | 135,766 |
Held To Maturity | ||
Held to Maturity Securities - Amortized Cost | 3,689 | 3,728 |
Held to Maturity Securities - Gross Unrealized Gains | 204 | 195 |
Held to Maturity Securities - Gross Unrealized Losses | 0 | 0 |
Held to Maturity Securities - Estimated Fair Value | 3,893 | 3,923 |
Residential Mortgage Backed Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 306,466 | 363,729 |
Available for Sale Investment Securities - Gross Unrealized Gains | 7,254 | 7,959 |
Available for Sale Investment Securities - Gross Unrealized Losses | 460 | 1,199 |
Available for Sale Investment Securities | 313,260 | 370,489 |
Commercial Mortgage Backed Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 15,870 | 2,515 |
Available for Sale Investment Securities - Gross Unrealized Gains | 205 | 7 |
Available for Sale Investment Securities - Gross Unrealized Losses | 1 | 10 |
Available for Sale Investment Securities | 16,074 | 2,512 |
Corporate Debt Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 6,879 | 6,639 |
Available for Sale Investment Securities - Gross Unrealized Gains | 16 | 26 |
Available for Sale Investment Securities - Gross Unrealized Losses | 865 | 358 |
Available for Sale Investment Securities | 6,030 | 6,307 |
Mutual Funds and Equity Securities [Member] | ||
Available For Sale | ||
Available for Sale Investment Securities - Amortized Cost | 618 | 1,889 |
Available for Sale Investment Securities - Gross Unrealized Gains | 0 | 2 |
Available for Sale Investment Securities - Gross Unrealized Losses | 66 | 25 |
Available for Sale Investment Securities | $ 552 | $ 1,866 |
Note 6 - Investment Securitie38
Note 6 - Investment Securities (Details) - The Amortized Cost and Estimated Fair Value of the Securities Portfolio by Contractual Maturity - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
The Amortized Cost and Estimated Fair Value of the Securities Portfolio by Contractual Maturity [Abstract] | ||
Due in one year or less | $ 12,156 | |
Due in one year or less | 12,183 | |
Due in one year or less | 0 | |
Due in one year or less | 0 | |
Due after one year through five years | 167,082 | |
Due after one year through five years | 168,576 | |
Due after one year through five years | 0 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 80,840 | |
Due after five years through ten years | 82,061 | |
Due after five years through ten years | 705 | |
Due after five years through ten years | 800 | |
Due after ten years | 16,500 | |
Due after ten years | 15,804 | |
Due after ten years | 2,984 | |
Due after ten years | 3,093 | |
Mortgage-backed securities | 322,336 | |
Mortgage-backed securities | 329,334 | |
Mortgage-backed securities | 0 | |
Mortgage-backed securities | 0 | |
Total | 598,914 | |
Total | 607,958 | |
Total | 3,689 | $ 3,728 |
Total | $ 3,893 | $ 3,923 |
Note 6 - Investment Securitie39
Note 6 - Investment Securities (Details) - Gross Realized Gains and Losses on the Sale of Available for Sale Investment Securities - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Gross Realized Gains and Losses on the Sale of Available for Sale Investment Securities [Abstract] | ||||
Gross realized gains | $ 5 | $ 8 | $ 185 | $ 186 |
Gross realized losses | 7 | 0 | 22 | 253 |
Net realized (loss) gain | $ (2) | $ 8 | $ 163 | $ (67) |
Note 6 - Investment Securitie40
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | $ 67,685 | $ 81,274 |
Less than 12 Months, Unrealized Losses | 361 | 254 |
12 Months or More, Fair Value | 54,241 | 159,818 |
12 Months or More, Unrealized Losses | 1,426 | 2,750 |
Total, Fair Value | 121,926 | 241,092 |
Total, Unrealized Losses | 1,787 | 3,004 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 10,201 | 22,696 |
Less than 12 Months, Unrealized Losses | 71 | 76 |
12 Months or More, Fair Value | 17,468 | 60,892 |
12 Months or More, Unrealized Losses | 84 | 939 |
Total, Fair Value | 27,669 | 83,588 |
Total, Unrealized Losses | 155 | 1,015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 27,192 | 20,746 |
Less than 12 Months, Unrealized Losses | 159 | 81 |
12 Months or More, Fair Value | 8,714 | 21,272 |
12 Months or More, Unrealized Losses | 81 | 316 |
Total, Fair Value | 35,906 | 42,018 |
Total, Unrealized Losses | 240 | 397 |
Residential Mortgage Backed Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 26,332 | 37,451 |
Less than 12 Months, Unrealized Losses | 74 | 82 |
12 Months or More, Fair Value | 22,958 | 71,311 |
12 Months or More, Unrealized Losses | 386 | 1,117 |
Total, Fair Value | 49,290 | 108,762 |
Total, Unrealized Losses | 460 | 1,199 |
Commercial Mortgage Backed Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 3,167 | 0 |
Less than 12 Months, Unrealized Losses | 1 | 0 |
12 Months or More, Fair Value | 0 | 723 |
12 Months or More, Unrealized Losses | 0 | 10 |
Total, Fair Value | 3,167 | 723 |
Total, Unrealized Losses | 1 | 10 |
Corporate Debt Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 304 | 76 |
Less than 12 Months, Unrealized Losses | 11 | 4 |
12 Months or More, Fair Value | 5,038 | 5,525 |
12 Months or More, Unrealized Losses | 854 | 354 |
Total, Fair Value | 5,342 | 5,601 |
Total, Unrealized Losses | 865 | 358 |
Mutual Funds and Equity Securities [Member] | ||
Note 6 - Investment Securities (Details) - Investment Securities with Unrealized Losses Not Recognized in Income [Line Items] | ||
Less than 12 Months, Fair Value | 489 | 305 |
Less than 12 Months, Unrealized Losses | 45 | 11 |
12 Months or More, Fair Value | 63 | 95 |
12 Months or More, Unrealized Losses | 21 | 14 |
Total, Fair Value | 552 | 400 |
Total, Unrealized Losses | $ 66 | $ 25 |
Note 7 - Loans and Allowance 41
Note 7 - Loans and Allowance for Loan Losses (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014 | Dec. 31, 2014USD ($) | |
Note 7 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 1,900,000 | $ 1,900,000 | $ 2,200,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | $ 24,155,000 | $ 24,155,000 | $ 24,429,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 3 | 0 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
TDR Financing Receivable [Member] | |||||
Note 7 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 356,000 | ||||
Purchased Loan at Discount [Member] | |||||
Note 7 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||||
Financing Receivable, Modifications, Purchase Price Discount | $ 482,000 | ||||
Financing Receivable, Modifications, Discount in Percentage | 15.00% | ||||
Financing Receivable, Modifications, Recorded Investment | $ 11,300,000 | $ 11,300,000 | |||
Percent of Total Restructured Loans | 46.80% | 46.80% |
Note 7 - Loans and Allowance 42
Note 7 - Loans and Allowance for Loan Losses (Details) - Major Classifications of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real Estate: | ||
Real estate mortgage – construction and land development | $ 107,130 | $ 97,045 |
Real estate mortgage – residential | 355,258 | 361,022 |
Real estate mortgage – farmland and other commercial enterprises | 368,870 | 375,277 |
Commercial: | ||
Commercial and industrial | 51,187 | 47,112 |
States and political subdivisions | 18,428 | 22,369 |
Lease financing | 25 | 159 |
Other | 22,218 | 15,547 |
Consumer: | ||
Secured | 6,787 | 7,963 |
Unsecured | 5,242 | 5,450 |
Total loans | 935,145 | 931,944 |
Less unearned income | 0 | 1 |
Total loans, net of unearned income | $ 935,145 | $ 931,943 |
Note 7 - Loans and Allowance 43
Note 7 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 12,199 | $ 17,123 | $ 13,968 | $ 20,577 |
Provision for loan losses | (898) | (1,536) | (2,707) | (2,792) |
Recoveries | 211 | 825 | 643 | 1,301 |
Loans charged off | (235) | (720) | (627) | (3,394) |
Balance, end of period | 11,277 | 15,692 | 11,277 | 15,692 |
Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 10,806 | 15,448 | 12,542 | 18,716 |
Provision for loan losses | (765) | (1,036) | (2,552) | (3,395) |
Recoveries | 38 | 114 | 376 | 471 |
Loans charged off | (151) | (436) | (438) | (1,702) |
Balance, end of period | 9,928 | 14,090 | 9,928 | 14,090 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,057 | 1,338 | 1,153 | 1,409 |
Provision for loan losses | (136) | (496) | (237) | 634 |
Recoveries | 145 | 691 | 176 | 736 |
Loans charged off | (42) | (230) | (68) | (1,476) |
Balance, end of period | 1,024 | 1,303 | 1,024 | 1,303 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 336 | 337 | 273 | 452 |
Provision for loan losses | 3 | (4) | 82 | (31) |
Recoveries | 28 | 20 | 91 | 94 |
Loans charged off | (42) | (54) | (121) | (216) |
Balance, end of period | $ 325 | $ 299 | $ 325 | $ 299 |
Note 7 - Loans and Allowance 44
Note 7 - Loans and Allowance for Loan Losses (Details) - Individually Impaired Loans by Class of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real Estate | ||
Impaired loans, unpaid principal balance | $ 41,493 | $ 47,033 |
Impaired loans, recorded investment with no allowance | 11,161 | 15,644 |
Impaired loans, recorded investment with allowance | 27,486 | 28,311 |
Impaired loans, total recorded investment | 38,647 | 43,955 |
Impaired loans, allowance for loan losses allocated | 2,801 | 3,371 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Real Estate | ||
Impaired loans, unpaid principal balance | 10,410 | 13,656 |
Impaired loans, recorded investment with no allowance | 4,373 | 6,902 |
Impaired loans, recorded investment with allowance | 3,379 | 3,917 |
Impaired loans, total recorded investment | 7,752 | 10,819 |
Impaired loans, allowance for loan losses allocated | 543 | 744 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Real Estate | ||
Impaired loans, unpaid principal balance | 9,304 | 10,256 |
Impaired loans, recorded investment with no allowance | 2,588 | 3,473 |
Impaired loans, recorded investment with allowance | 6,660 | 6,649 |
Impaired loans, total recorded investment | 9,248 | 10,122 |
Impaired loans, allowance for loan losses allocated | 1,149 | 1,172 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Real Estate | ||
Impaired loans, unpaid principal balance | 21,182 | 23,003 |
Impaired loans, recorded investment with no allowance | 4,200 | 5,247 |
Impaired loans, recorded investment with allowance | 16,848 | 17,649 |
Impaired loans, total recorded investment | 21,048 | 22,896 |
Impaired loans, allowance for loan losses allocated | 687 | 1,359 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Real Estate | ||
Impaired loans, unpaid principal balance | 436 | 93 |
Impaired loans, recorded investment with no allowance | 0 | 22 |
Impaired loans, recorded investment with allowance | 438 | 71 |
Impaired loans, total recorded investment | 438 | 93 |
Impaired loans, allowance for loan losses allocated | 261 | 71 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Real Estate | ||
Impaired loans, unpaid principal balance | 161 | 25 |
Impaired loans, recorded investment with no allowance | 0 | 0 |
Impaired loans, recorded investment with allowance | 161 | 25 |
Impaired loans, total recorded investment | 161 | 25 |
Impaired loans, allowance for loan losses allocated | $ 161 | $ 25 |
Note 7 - Loans and Allowance 45
Note 7 - Loans and Allowance for Loan Losses (Details) - Individually Impaired Loans By Class of Loans, Continued - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | $ 40,675 | $ 51,227 | $ 44,193 | $ 55,365 |
Impaired loans, interest income recognzied | 420 | 557 | 1,424 | 1,540 |
Impiared loans, cash basis interest recognized | 415 | 549 | 1,396 | 1,492 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 9,650 | 13,157 | 10,382 | 14,735 |
Impaired loans, interest income recognzied | 49 | 46 | 265 | 279 |
Impiared loans, cash basis interest recognized | 47 | 46 | 258 | 275 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 9,416 | 10,651 | 10,199 | 11,137 |
Impaired loans, interest income recognzied | 109 | 150 | 364 | 412 |
Impiared loans, cash basis interest recognized | 109 | 143 | 352 | 393 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 20,999 | 27,014 | 22,931 | 29,141 |
Impaired loans, interest income recognzied | 255 | 359 | 780 | 839 |
Impiared loans, cash basis interest recognized | 252 | 358 | 771 | 816 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 449 | 375 | 563 | 290 |
Impaired loans, interest income recognzied | 5 | 2 | 11 | 6 |
Impiared loans, cash basis interest recognized | 5 | 2 | 11 | 5 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 161 | 30 | 118 | 56 |
Impaired loans, interest income recognzied | 2 | 0 | 4 | 4 |
Impiared loans, cash basis interest recognized | $ 2 | $ 0 | $ 4 | 3 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired loans, average | 6 | |||
Impaired loans, interest income recognzied | 0 | |||
Impiared loans, cash basis interest recognized | $ 0 |
Note 7 - Loans and Allowance 46
Note 7 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Impairment Method - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Ending allowance balance attributable to loans: | ||||||
Allowance for loan losses individually evaluated for impairment | $ 2,801 | $ 3,371 | ||||
Allowance for loan losses collectively evaluated for impairment | 8,476 | 10,597 | ||||
Total ending allowance balance | 11,277 | $ 12,199 | 13,968 | $ 15,692 | $ 17,123 | $ 20,577 |
Loans | ||||||
Loans individually evaluated for impairment | 38,647 | 43,955 | ||||
Loans collectively evaluated for impairment | 896,498 | 887,988 | ||||
Total loans, net of unearned income | 935,145 | 931,943 | ||||
Real Estate Portfolio Segment [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Allowance for loan losses individually evaluated for impairment | 2,379 | 3,275 | ||||
Allowance for loan losses collectively evaluated for impairment | 7,549 | 9,267 | ||||
Total ending allowance balance | 9,928 | 10,806 | 12,542 | 14,090 | 15,448 | 18,716 |
Loans | ||||||
Loans individually evaluated for impairment | 38,048 | 43,837 | ||||
Loans collectively evaluated for impairment | 793,210 | 789,507 | ||||
Total loans, net of unearned income | 831,258 | 833,344 | ||||
Commercial Portfolio Segment [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Allowance for loan losses individually evaluated for impairment | 261 | 71 | ||||
Allowance for loan losses collectively evaluated for impairment | 763 | 1,082 | ||||
Total ending allowance balance | 1,024 | 1,057 | 1,153 | 1,303 | 1,338 | 1,409 |
Loans | ||||||
Loans individually evaluated for impairment | 438 | 93 | ||||
Loans collectively evaluated for impairment | 91,420 | 85,093 | ||||
Total loans, net of unearned income | 91,858 | 85,186 | ||||
Consumer Portfolio Segment [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Allowance for loan losses individually evaluated for impairment | 161 | 25 | ||||
Allowance for loan losses collectively evaluated for impairment | 164 | 248 | ||||
Total ending allowance balance | 325 | $ 336 | 273 | $ 299 | $ 337 | $ 452 |
Loans | ||||||
Loans individually evaluated for impairment | 161 | 25 | ||||
Loans collectively evaluated for impairment | 11,868 | 13,388 | ||||
Total loans, net of unearned income | $ 12,029 | $ 13,413 |
Note 7 - Loans and Allowance 47
Note 7 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real Estate: | ||
Nonaccrual | $ 8,201 | $ 11,508 |
Restructured Loans | 24,155 | 24,429 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Real Estate: | ||
Nonaccrual | 1,861 | 3,744 |
Restructured Loans | 3,679 | 3,742 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Real Estate: | ||
Nonaccrual | 2,527 | 3,474 |
Restructured Loans | 4,350 | 4,674 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Real Estate: | ||
Nonaccrual | 3,739 | 4,202 |
Restructured Loans | 15,594 | 16,004 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Real Estate: | ||
Nonaccrual | 55 | 81 |
Restructured Loans | 385 | 0 |
Loans Past Due 90 Days or More and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Real Estate: | ||
Nonaccrual | 9 | |
Restructured Loans | 0 | |
Loans Past Due 90 Days or More and Still Accruing | 0 | |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | ||
Real Estate: | ||
Nonaccrual | 7 | |
Restructured Loans | 0 | |
Loans Past Due 90 Days or More and Still Accruing | 0 | |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Real Estate: | ||
Nonaccrual | 10 | |
Restructured Loans | 0 | |
Loans Past Due 90 Days or More and Still Accruing | 0 | |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Real Estate: | ||
Nonaccrual | 0 | 0 |
Restructured Loans | 147 | 9 |
Loans Past Due 90 Days or More and Still Accruing | $ 0 | $ 0 |
Note 7 - Loans and Allowance 48
Note 7 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015USD ($) | Dec. 31, 2014 | |
Commercial: | |||
Number of Loans | 0 | 3 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 533 | ||
Post-Modification Outstanding Recorded Investment | $ 533 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Commercial: | |||
Number of Loans | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 388 | ||
Post-Modification Outstanding Recorded Investment | $ 388 | ||
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | |||
Commercial: | |||
Number of Loans | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 145 | ||
Post-Modification Outstanding Recorded Investment | $ 145 |
Note 7 - Loans and Allowance 49
Note 7 - Loans and Allowance for Loan Losses (Details) - Aging Analysis of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real Estate: | ||
Loans, past due | $ 5,724 | $ 6,956 |
Loans, current | 929,421 | 924,987 |
Loans, total | 935,145 | 931,943 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 2,655 | 1,584 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 3,069 | 5,372 |
Real Estate Portfolio Segment [Member] | ||
Real Estate: | ||
Loans, total | 831,258 | 833,344 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Real Estate: | ||
Loans, past due | 229 | 272 |
Loans, current | 106,901 | 96,773 |
Loans, total | 107,130 | 97,045 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 2 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 227 | 272 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Real Estate: | ||
Loans, past due | 2,404 | 2,990 |
Loans, current | 352,854 | 358,032 |
Loans, total | 355,258 | 361,022 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 1,706 | 1,395 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 698 | 1,595 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Real Estate: | ||
Loans, past due | 3,001 | 3,559 |
Loans, current | 365,869 | 371,718 |
Loans, total | 368,870 | 375,277 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 876 | 75 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 2,125 | 3,484 |
Commercial Portfolio Segment [Member] | ||
Real Estate: | ||
Loans, total | 91,858 | 85,186 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Real Estate: | ||
Loans, past due | 19 | 13 |
Loans, current | 51,168 | 47,099 |
Loans, total | 51,187 | 47,112 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 19 | 13 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Loans, current | 18,428 | 22,369 |
Loans, total | 18,428 | 22,369 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | ||
Real Estate: | ||
Loans, past due | 25 | 0 |
Loans, current | 0 | 158 |
Loans, total | 25 | 158 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 25 | 0 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Real Estate: | ||
Loans, past due | 19 | 47 |
Loans, current | 22,199 | 15,500 |
Loans, total | 22,218 | 15,547 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 19 | 40 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 7 |
Consumer Portfolio Segment [Member] | ||
Real Estate: | ||
Loans, total | 12,029 | 13,413 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Real Estate: | ||
Loans, past due | 4 | 58 |
Loans, current | 6,783 | 7,905 |
Loans, total | 6,787 | 7,963 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 4 | 58 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Real Estate: | ||
Loans, past due | 23 | 17 |
Loans, current | 5,219 | 5,433 |
Loans, total | 5,242 | 5,450 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | 23 | 16 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Real Estate: | ||
Loans, past due | $ 0 | $ 1 |
Note 7 - Loans and Allowance 50
Note 7 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Credit risk profile by internally assigned rating grades: | ||
Loans | $ 935,145 | $ 931,943 |
Real Estate Portfolio Segment [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 831,258 | 833,344 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 107,130 | 97,045 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 92,979 | 81,438 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 4,018 | 2,674 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 10,133 | 12,933 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 355,258 | 361,022 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 323,928 | 326,124 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 15,791 | 16,429 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 15,539 | 18,469 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 368,870 | 375,277 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 327,195 | 327,019 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 24,191 | 27,855 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 17,484 | 19,941 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 462 |
Commercial Portfolio Segment [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 91,858 | 85,186 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 51,187 | 47,112 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 49,697 | 45,665 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 999 | 946 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 491 | 501 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 18,428 | 22,369 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 18,428 | 22,369 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | States and Political Subdivisions [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 25 | 158 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 25 | 158 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 22,218 | 15,547 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Pass [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 22,196 | 15,526 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Special Mention [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 0 | 14 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Substandard [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | 22 | 7 |
Commercial Portfolio Segment [Member] | Commercial Other [Member] | Doubtful [Member] | ||
Credit risk profile by internally assigned rating grades: | ||
Loans | $ 0 | $ 0 |
Note 7 - Loans and Allowance 51
Note 7 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Credit risk profile based on payment activity: | ||
Loans | $ 935,145 | $ 931,943 |
Consumer Portfolio Segment [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 12,029 | 13,413 |
Consumer Portfolio Segment [Member] | Consumer Secured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 6,787 | 7,963 |
Consumer Portfolio Segment [Member] | Consumer Unsecured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 5,242 | 5,450 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Consumer Secured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 6,777 | 7,963 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Consumer Unsecured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 5,095 | 5,441 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Consumer Secured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | 10 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Consumer Unsecured [Member] | ||
Credit risk profile based on payment activity: | ||
Loans | $ 147 | $ 9 |
Note 8 - Other Real Estate Ow52
Note 8 - Other Real Estate Owned (Details) $ in Millions | Sep. 30, 2015USD ($) |
Disclosure Text Block [Abstract] | |
Mortgage Loans in Process of Foreclosure, Amount | $ 1.9 |
Note 8 - Other Real Estate Ow53
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ||||
Other Real Estate Owned | $ 22,868 | $ 31,960 | $ 34,766 | $ 37,826 |
Construction and Land Development OREO [Member] | ||||
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ||||
Other Real Estate Owned | 13,576 | 17,628 | ||
Residential Real Estate OREO [Member] | ||||
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ||||
Other Real Estate Owned | 1,084 | 2,219 | ||
Farmland and Other Commercial Enterprises OREO [Member] | ||||
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ||||
Other Real Estate Owned | 8,208 | 12,113 | ||
OREO [Member] | ||||
Note 8 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ||||
Other Real Estate Owned | $ 22,868 | $ 31,960 |
Note 8 - Other Real Estate Ow54
Note 8 - Other Real Estate Owned (Details) - OREO Activity - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
OREO Activity [Abstract] | ||
Beginning balance | $ 31,960 | $ 37,826 |
Transfers from loans and other increases | 1,274 | 8,152 |
Proceeds from sales | (9,642) | (8,590) |
Loss on sales, net | (129) | (546) |
Write downs and other decreases, net | (595) | (2,076) |
Ending balance | $ 22,868 | $ 34,766 |
Note 9 - Securities Sold unde55
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements $ in Thousands | Sep. 30, 2015USD ($) |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | $ 136,027 |
US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 136,027 |
Maturity Overnight [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 33,357 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 33,357 |
Maturity Less than 30 Days [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 200 |
Maturity Less than 30 Days [Member] | US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 200 |
Maturity 30 to 90 Days [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 0 |
Maturity 30 to 90 Days [Member] | US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 0 |
Maturity Greater than 90 Days [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 1,714 |
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 1,714 |
Maturity Over One Year to Four Years [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | 100,756 |
Maturity Over One Year to Four Years [Member] | US Government Agencies Debt Securities [Member] | |
Note 9 - Securities Sold under Agreements to Repurchase (Details) - Maturity of Repurchase Agreements [Line Items] | |
Remaining contractual maturity of the agreements | $ 100,756 |
Note 10 - Postretirement Medi56
Note 10 - Postretirement Medical Benefits (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015USD ($) | Sep. 30, 2015USD ($) | |
Note 10 - Postretirement Medical Benefits (Details) [Line Items] | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | $ 359 | |
Other Postretirement Benefits Payments | $ 72 | $ 214 |
Plan 2 [Member] | ||
Note 10 - Postretirement Medical Benefits (Details) [Line Items] | ||
Employee Service Requirement | 20 years | |
Employee Age Requirement | 55 years | |
Contributions Plan 2 | 50.00% | 50.00% |
Plan 1 [Member] | ||
Note 10 - Postretirement Medical Benefits (Details) [Line Items] | ||
Company Contributions Plan 1 | 100.00% | 100.00% |
Note 10 - Postretirement Medi57
Note 10 - Postretirement Medical Benefits (Details) - Net Periodic Benefit Cost - Postretirement Medical Benefits [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Note 10 - Postretirement Medical Benefits (Details) - Net Periodic Benefit Cost [Line Items] | ||||
Service cost | $ 185 | $ 121 | $ 554 | $ 362 |
Interest cost | 162 | 142 | 487 | 427 |
Recognized prior service cost | 13 | 51 | 38 | 155 |
Recognized net actuarial loss (gain) | 10 | (15) | 31 | (47) |
Net periodic benefit cost | $ 370 | $ 299 | $ 1,110 | $ 897 |
Note 11 - Regulatory Matters (D
Note 11 - Regulatory Matters (Details) - USD ($) $ / shares in Units, $ in Thousands | Jun. 08, 2015 | Jan. 31, 2009 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Dividends Payable (in Dollars) | $ 0 | $ 113 | $ 225 | |||
Safest Assets [Member] | ||||||
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Risk Weighting of Assets | 0.00% | |||||
Riskier Assets [Member] | ||||||
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Risk Weighting of Assets | 100.00% | |||||
Series A Preferred Stock [Member] | ||||||
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Stock Redeemed or Called During Period, Shares (in Shares) | 10,000 | |||||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1,000 | |||||
Dividends Payable (in Dollars) | $ 58 | |||||
Stock Issued During Period, Shares, New Issues (in Shares) | 30,000 | |||||
Citizens Northern [Member] | ||||||
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Tier One Leverage Capital to Average Assets | [1] | 10.31% | 10.11% | |||
Citizens Northern [Member] | Compliance [Member] | ||||||
Note 11 - Regulatory Matters (Details) [Line Items] | ||||||
Tier One Leverage Capital to Average Assets | 9.00% | |||||
[1] | Tier 1 Leverage ratio is computed by dividing a bank's Tier 1 Capital, as defined by regulation, by its total quarterly average assets. |
Note 11 - Regulatory Matters 59
Note 11 - Regulatory Matters (Details) - Regulatory Ratios of the Consolidated Company and Its Subsidiary Banks | Sep. 30, 2015 | Dec. 31, 2014 | |
Consolidated [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 14.93% | |
Tier 1 Risk-based Capital | [1] | 19.13% | 19.75% |
Total Risk-based Capital | [1] | 20.12% | 21.00% |
Tier 1 Leverage | [2] | 12.27% | 12.04% |
Farmers Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 16.74% | |
Tier 1 Risk-based Capital | [1] | 16.74% | 17.71% |
Total Risk-based Capital | [1] | 17.65% | 18.70% |
Tier 1 Leverage | [2] | 9.63% | 9.40% |
United Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 19.04% | |
Tier 1 Risk-based Capital | [1] | 19.04% | 18.00% |
Total Risk-based Capital | [1] | 20.20% | 19.26% |
Tier 1 Leverage | [2] | 12.82% | 11.08% |
First Citizens Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 14.47% | |
Tier 1 Risk-based Capital | [1] | 14.47% | 13.66% |
Total Risk-based Capital | [1] | 15.09% | 14.30% |
Tier 1 Leverage | [2] | 9.85% | 9.44% |
Citizens Northern [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common Equity Tier 1 Risk-based Capital | [1] | 14.26% | |
Tier 1 Risk-based Capital | [1] | 14.26% | 14.46% |
Total Risk-based Capital | [1] | 15.51% | 15.71% |
Tier 1 Leverage | [2] | 10.31% | 10.11% |
[1] | Common Equity Tier 1 Risked-based, Tier 1 Risk-based, and Total Risk-based Capital ratios are computed by dividing a bank's Common Equity Tier 1, Tier 1 or TotalCapital, as defined by regulation, by a risk-weighted sum of the bank's assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). | ||
[2] | Tier 1 Leverage ratio is computed by dividing a bank's Tier 1 Capital, as defined by regulation, by its total quarterly average assets. |
Note 12 - Fair Value Measurem60
Note 12 - Fair Value Measurements (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Note 12 - Fair Value Measurements (Details) [Line Items] | ||
Money Market Funds, at Carrying Value | $ 11,200,000 | $ 0 |
Loans and Leases Receivable, Deferred Income | 0 | $ 1,000 |
Commitments to Extend Credit [Member] | ||
Note 12 - Fair Value Measurements (Details) [Line Items] | ||
Loans and Leases Receivable, Deferred Income | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | 0 | |
Financial Standby Letter of Credit [Member] | ||
Note 12 - Fair Value Measurements (Details) [Line Items] | ||
Loans and Leases Receivable, Deferred Income | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | 0 | |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Note 12 - Fair Value Measurements (Details) [Line Items] | ||
Assets, Fair Value Disclosure | $ 11,200,000 |
Note 12 - Fair Value Measurem61
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | $ 608,510 | $ 626,388 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 126,684 | 109,448 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 145,910 | 135,766 |
Residential Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 313,260 | 370,489 |
Commercial Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 16,074 | 2,512 |
Corporate Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 6,030 | 6,307 |
Mutual Funds and Equity Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 552 | 1,866 |
Fair Value, Inputs, Level 1 [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 552 | 1,866 |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds and Equity Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 552 | 1,866 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 607,958 | 624,522 |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 126,684 | 109,448 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 145,910 | 135,766 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 313,260 | 370,489 |
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 16,074 | 2,512 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 6,030 | 6,307 |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds and Equity Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds and Equity Securities [Member] | ||
Note 12 - Fair Value Measurements (Details) - Available for Sale Investment Securities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available for Sale Investment Securities | $ 0 | $ 0 |
Note 12 - Fair Value Measurem62
Note 12 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | $ 905 | $ 1,570 |
OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 2,946 | 14,445 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 227 | 284 |
Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 857 | 8,123 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 678 | 946 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 475 | 863 |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 340 | |
Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 1,614 | 5,459 |
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | |
Fair Value, Inputs, Level 1 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | |
Fair Value, Inputs, Level 2 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 905 | 1,570 |
Fair Value, Inputs, Level 3 [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 2,946 | 14,445 |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 227 | 284 |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Construction and Land Development [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 857 | 8,123 |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 678 | 946 |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Residential [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 475 | 863 |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | Impaired Loans [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | 340 | |
Fair Value, Inputs, Level 3 [Member] | Real Estate Portfolio Segment [Member] | Real Estate Mortgage Farmland and Other Commercial Enterprises [Member] | OREO [Member] | ||
Collateral-dependent Impaired Loans | ||
Assets fair value, nonrecurring | $ 1,614 | $ 5,459 |
Note 12 - Fair Value Measurem63
Note 12 - Fair Value Measurements (Details) - Impairment Charges on Assets Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Impairment charges: | ||||
Impairment charges | $ 53 | $ 1,057 | $ 321 | $ 2,160 |
Impaired Loans [Member] | ||||
Impairment charges: | ||||
Impairment charges | 24 | 395 | 45 | 611 |
OREO [Member] | ||||
Impairment charges: | ||||
Impairment charges | $ 29 | $ 662 | $ 276 | $ 1,549 |
Note 12 - Fair Value Measurem64
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Fair value (in Dollars) | $ 905 | $ 1,570 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Fair value (in Dollars) | $ 905 | $ 1,570 |
Valuation technique | Discounted appraisals | |
Unobservable inputs | Marketability discount | |
Fair Value, Inputs, Level 3 [Member] | OREO [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Fair value (in Dollars) | $ 2,946 | |
Valuation technique | Discounted appraisals | |
Unobservable inputs | Marketability discount | |
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 0.00% | |
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | OREO [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 2.30% | |
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 8.00% | |
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | OREO [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 26.90% | |
Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 6.00% | |
Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | OREO [Member] | ||
Note 12 - Fair Value Measurements (Details) - Quantitative Information about Unobservable Inputs for Assets Measured on a Nonrecurring Basis Using Level 3 Measurements [Line Items] | ||
Marketability discount | 6.10% |
Note 12 - Fair Value Measurem65
Note 12 - Fair Value Measurements (Details) - The Carrying Amounts and Estimated Fair Values of Financial Instruments - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents, carrying amount | $ 107,855 | $ 100,914 | $ 70,843 | $ 68,253 |
Held to maturity investment securities, carrying amount | 3,689 | 3,728 | ||
Held to maturity investment securities, fair value | 3,893 | 3,923 | ||
Loans, net, carrying amount | 923,868 | 917,975 | ||
Liabilities | ||||
Deposits, carrying amount | 1,356,468 | 1,387,161 | ||
Federal funds purchased and other short-term borrowings, carrying amount | 34,757 | 28,590 | ||
Securities sold under agreements to repurchase and other long-term borrowings, carrying amount | 120,115 | 119,724 | ||
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | ||
Reported Value Measurement [Member] | ||||
Assets | ||||
Cash and cash equivalents, carrying amount | 107,855 | 100,914 | ||
Held to maturity investment securities, carrying amount | 3,689 | 3,728 | ||
Loans, net, carrying amount | 923,868 | 917,975 | ||
Accrued interest receivable, carrying amount | 5,246 | 5,625 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock, carrying amount | 9,368 | 9,368 | ||
Liabilities | ||||
Deposits, carrying amount | 1,356,468 | 1,387,161 | ||
Federal funds purchased and other short-term borrowings, carrying amount | 34,757 | 28,590 | ||
Securities sold under agreements to repurchase and other long-term borrowings, carrying amount | 120,115 | 119,724 | ||
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | ||
Accrued interest payable, carrying amount | 859 | 944 | ||
Estimate of Fair Value Measurement [Member] | ||||
Assets | ||||
Cash and cash equivalents, fair value | 107,855 | 100,914 | ||
Held to maturity investment securities, fair value | 3,893 | 3,923 | ||
Loans, net, fair value | 922,241 | 918,697 | ||
Accrued interest receivable, fair value | 5,246 | 5,625 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock, fair value | 0 | 0 | ||
Liabilities | ||||
Deposits, fair value | 1,357,045 | 1,388,614 | ||
Federal funds purchased and other short-term borrowings, fair value | 34,757 | 28,590 | ||
Securities sold under agreements to repurchase and other long-term borrowings, fair value | 128,505 | 129,244 | ||
Subordinated notes payable to unconsolidated trusts, fair value | 29,203 | 22,594 | ||
Accrued interest payable, fair value | 859 | 944 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Assets | ||||
Cash and cash equivalents, fair value | 107,855 | 100,914 | ||
Held to maturity investment securities, fair value | 0 | 0 | ||
Loans, net, fair value | 0 | 0 | ||
Accrued interest receivable, fair value | 0 | 0 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock, fair value | 0 | 0 | ||
Liabilities | ||||
Deposits, fair value | 1,016,440 | 991,630 | ||
Federal funds purchased and other short-term borrowings, fair value | 0 | 0 | ||
Securities sold under agreements to repurchase and other long-term borrowings, fair value | 0 | 0 | ||
Subordinated notes payable to unconsolidated trusts, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Assets | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Held to maturity investment securities, fair value | 3,893 | 3,923 | ||
Loans, net, fair value | 0 | 0 | ||
Accrued interest receivable, fair value | 5,246 | 5,625 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock, fair value | 0 | 0 | ||
Liabilities | ||||
Deposits, fair value | 0 | 0 | ||
Federal funds purchased and other short-term borrowings, fair value | 34,757 | 28,590 | ||
Securities sold under agreements to repurchase and other long-term borrowings, fair value | 128,505 | 129,244 | ||
Subordinated notes payable to unconsolidated trusts, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 859 | 944 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Assets | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Held to maturity investment securities, fair value | 0 | 0 | ||
Loans, net, fair value | 922,241 | 918,697 | ||
Accrued interest receivable, fair value | 0 | 0 | ||
Federal Home Loan Bank and Federal Reserve Bank Stock, fair value | 0 | 0 | ||
Liabilities | ||||
Deposits, fair value | 340,605 | 396,984 | ||
Federal funds purchased and other short-term borrowings, fair value | 0 | 0 | ||
Securities sold under agreements to repurchase and other long-term borrowings, fair value | 0 | 0 | ||
Subordinated notes payable to unconsolidated trusts, fair value | 29,203 | 22,594 | ||
Accrued interest payable, fair value | $ 0 | $ 0 |