Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 01, 2014 | Jun. 30, 2013 |
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'GABC | ' | ' |
Entity Registrant Name | 'GERMAN AMERICAN BANCORP, INC. | ' | ' |
Entity Central Index Key | '0000714395 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-Known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock Shares Outstanding | ' | 13,173,793 | ' |
Entity Public Float | ' | ' | $260,154,858 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and Due from Banks | $37,370 | $41,624 |
Federal Funds Sold and Other Short-term Investments | 22,762 | 7,463 |
Cash and Cash Equivalents | 60,132 | 49,087 |
Interest-bearing Time Deposits with Banks | 100 | 2,707 |
Securities Available-for-Sale, at Fair Value | 606,032 | 587,602 |
Securities Held-to-Maturity, at Cost (Fair value of $271 and $351 on December 31, 2013 and 2012, respectively) | 268 | 346 |
Loans Held-for-Sale, at Fair Value | 9,265 | 16,641 |
Loans | 1,385,212 | 1,207,901 |
Less: | ' | ' |
Unearned Income | -2,830 | -3,035 |
Allowance for Loan Losses | -14,584 | -15,520 |
Loans, Net | 1,367,798 | 1,189,346 |
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost | 9,004 | 8,340 |
Premises, Furniture and Equipment, Net | 40,430 | 36,554 |
Other Real Estate | 1,029 | 1,645 |
Goodwill | 20,536 | 18,865 |
Intangible Assets | 3,328 | 2,692 |
Company Owned Life Insurance | 31,178 | 30,223 |
Accrued Interest Receivable and Other Assets | 14,727 | 62,252 |
TOTAL ASSETS | 2,163,827 | 2,006,300 |
LIABILITIES | ' | ' |
Non-interest-bearing Demand Deposits | 400,024 | 349,174 |
Interest-bearing Demand, Savings, and Money Market Accounts | 1,063,098 | 962,574 |
Time Deposits | 349,034 | 329,183 |
Total Deposits | 1,812,156 | 1,640,931 |
FHLB Advances and Other Borrowings | 140,770 | 161,006 |
Accrued Interest Payable and Other Liabilities | 10,804 | 19,337 |
TOTAL LIABILITIES | 1,963,730 | 1,821,274 |
Commitments and Contingencies (Note 13) | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred Stock, no par value; 500,000 shares authorized, no shares issued | ' | ' |
Common Stock, no par value, $1 stated value; 30,000,000 shares authorized | 13,174 | 12,637 |
Additional Paid-in Capital | 108,022 | 95,617 |
Retained Earnings | 84,164 | 66,421 |
Accumulated Other Comprehensive Income (Loss) | -5,263 | 10,351 |
TOTAL SHAREHOLDERS' EQUITY | 200,097 | 185,026 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $2,163,827 | $2,006,300 |
End of period shares issued and outstanding | 13,173,793 | 12,636,656 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Securities Held to Maturity, at Fair Value | $271 | $351 |
Preferred Stock, no par value | $0 | $0 |
Preferred Stock, shares authorized | 500,000 | 500,000 |
Preferred Stock, shares issued | 0 | 0 |
Common Stock, no par value | $0 | $0 |
Common Stock, stated value | $1 | $1 |
Common Stock, shares authorized | 30,000,000 | 30,000,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
INTEREST INCOME | ' | ' | ' |
Interest and Fees on Loans | $61,632 | $61,691 | $64,445 |
Interest on Federal Funds Sold and Other Short-term Investments | 30 | 91 | 216 |
Interest and Dividends on Securities: | ' | ' | ' |
Taxable | 11,091 | 12,946 | 13,677 |
Non-taxable | 2,919 | 2,432 | 1,823 |
TOTAL INTEREST INCOME | 75,672 | 77,160 | 80,161 |
INTEREST EXPENSE | ' | ' | ' |
Interest on Deposits | 4,697 | 6,958 | 11,986 |
Interest on FHLB Advances and Other Borrowings | 2,458 | 3,954 | 4,194 |
TOTAL INTEREST EXPENSE | 7,155 | 10,912 | 16,180 |
NET INTEREST INCOME | 68,517 | 66,248 | 63,981 |
Provision for Loan Losses | 350 | 2,412 | 6,800 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 68,167 | 63,836 | 57,181 |
NON-INTEREST INCOME | ' | ' | ' |
Trust and Investment Product Fees | 3,358 | 2,657 | 2,145 |
Service Charges on Deposit Accounts | 4,144 | 4,076 | 4,154 |
Insurance Revenues | 6,217 | 5,524 | 5,819 |
Company Owned Life Insurance | 965 | 974 | 1,100 |
Interchange Fee Income | 1,854 | 1,724 | 1,501 |
Other Operating Income | 2,003 | 1,955 | 1,452 |
Net Gains on Sales of Loans | 2,645 | 3,234 | 2,381 |
Net Gain on Securities | 2,429 | 1,667 | 3,024 |
TOTAL NON-INTEREST INCOME | 23,615 | 21,811 | 21,576 |
NON-INTEREST EXPENSE | ' | ' | ' |
Salaries and Employee Benefits | 31,482 | 29,086 | 27,992 |
Occupancy Expense | 4,545 | 4,277 | 4,264 |
Furniture and Equipment Expense | 3,196 | 2,787 | 2,934 |
FDIC Premiums | 1,050 | 1,116 | 1,473 |
Data Processing Fees | 1,765 | 1,071 | 2,092 |
Professional Fees | 2,577 | 2,247 | 2,056 |
Advertising and Promotion | 1,863 | 1,714 | 1,525 |
Intangible Amortization | 1,416 | 1,655 | 1,956 |
Other Operating Expenses | 7,011 | 6,970 | 6,490 |
TOTAL NON-INTEREST EXPENSE | 54,905 | 50,923 | 50,782 |
Income before Income Taxes | 36,877 | 34,724 | 27,975 |
Income Tax Expense | 11,464 | 10,669 | 7,726 |
NET INCOME | $25,413 | $24,055 | $20,249 |
Basic Earnings per Share | $1.99 | $1.91 | $1.61 |
Diluted Earnings per Share | $1.98 | $1.90 | $1.61 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income | $25,413 | $24,055 | $20,249 |
Unrealized Gains (Losses) on Securities | ' | ' | ' |
Unrealized Holding Gain (Loss) Arising During the Period | -22,169 | 1,495 | 11,830 |
Reclassification Adjustment for Losses (Gains) Included in Net Income | -2,429 | -1,667 | -3,024 |
Tax Effect | 8,724 | 48 | -3,129 |
Net of Tax | -15,874 | -124 | 5,677 |
Defined Benefit Pension Plans and Postretirement Benefit Obligation | ' | ' | ' |
Total Other Comprehensive Income (Loss) | -15,614 | -192 | 5,643 |
COMPREHENSIVE INCOME | 9,799 | 23,863 | 25,892 |
Defined Benefit Pension Plan [Member] | ' | ' | ' |
Defined Benefit Pension Plans and Postretirement Benefit Obligation | ' | ' | ' |
Net (Loss) Gain Arising During the Period | 749 | -155 | 14 |
Reclassification Adjustment for Amortization of Prior Service Cost and Net (Gain) Loss Included in Net Periodic Pension Cost | -373 | 78 | -7 |
Tax Effect | -145 | 30 | -3 |
Net of Tax | 231 | -47 | 4 |
Postretirement Benefit Obligation | ' | ' | ' |
Defined Benefit Pension Plans and Postretirement Benefit Obligation | ' | ' | ' |
Net (Loss) Gain Arising During the Period | 80 | -79 | -122 |
Reclassification Adjustment for Amortization of Prior Service Cost and Net (Gain) Loss Included in Net Periodic Pension Cost | -37 | 42 | 57 |
Tax Effect | -14 | 16 | 27 |
Net of Tax | $29 | ($21) | ($38) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
In Thousands, except Share data, unless otherwise specified | |||||
Balances at Dec. 31, 2010 | $121,534 | $11,105 | $69,297 | $36,232 | $4,900 |
Balances (in shares) at Dec. 31, 2010 | ' | 11,105,583 | ' | ' | ' |
Net Income | 20,249 | ' | ' | 20,249 | ' |
Net Current Period Other Comprehensive Income (Loss) | 5,643 | ' | ' | ' | 5,643 |
Cash Dividends | -7,047 | ' | ' | -7,047 | ' |
Issuance of Common Stock for: | ' | ' | ' | ' | ' |
Exercise of Stock Options | 12 | 2 | 10 | ' | ' |
Exercise of Stock Options (in shares) | ' | 1,652 | ' | ' | ' |
Acquisition of American Community Bancorp, Inc | 26,572 | 1,449 | 25,123 | ' | ' |
Acquisition of American Community Bancorp, Inc (in shares) | ' | 1,448,520 | ' | ' | ' |
Employee Stock Purchase Plan | -25 | ' | -25 | ' | ' |
Restricted Share Grants | 635 | 38 | 597 | ' | ' |
Restricted Share Grants (in shares) | ' | 38,503 | ' | ' | ' |
Income Tax Benefit from Restricted Share Grant | 37 | ' | 37 | ' | ' |
Balances at Dec. 31, 2011 | 167,610 | 12,594 | 95,039 | 49,434 | 10,543 |
Balances (in shares) at Dec. 31, 2011 | ' | 12,594,258 | ' | ' | ' |
Net Income | 24,055 | ' | ' | 24,055 | ' |
Net Current Period Other Comprehensive Income (Loss) | -192 | ' | ' | ' | -192 |
Cash Dividends | -7,068 | ' | ' | -7,068 | ' |
Issuance of Common Stock for: | ' | ' | ' | ' | ' |
Exercise of Stock Options | 37 | 8 | 29 | ' | ' |
Exercise of Stock Options (in shares) | ' | 7,278 | ' | ' | ' |
Employee Stock Purchase Plan | -67 | ' | -67 | ' | ' |
Restricted Share Grants | 628 | 35 | 593 | ' | ' |
Restricted Share Grants (in shares) | ' | 35,120 | ' | ' | ' |
Income Tax Benefit from Restricted Share Grant | 23 | ' | 23 | ' | ' |
Balances at Dec. 31, 2012 | 185,026 | 12,637 | 95,617 | 66,421 | 10,351 |
Balances (in shares) at Dec. 31, 2012 | ' | 12,636,656 | ' | ' | ' |
Net Income | 25,413 | ' | ' | 25,413 | ' |
Net Current Period Other Comprehensive Income (Loss) | -15,614 | ' | ' | ' | -15,614 |
Cash Dividends | -7,670 | ' | ' | -7,670 | ' |
Issuance of Common Stock for: | ' | ' | ' | ' | ' |
Exercise of Stock Options | 20 | 2 | 18 | ' | ' |
Exercise of Stock Options (in shares) | 8,300 | 1,999 | ' | ' | ' |
Acquisition of American Community Bancorp, Inc | 12,574 | 503 | 12,071 | ' | ' |
Acquisition of American Community Bancorp, Inc (in shares) | ' | 502,560 | ' | ' | ' |
Employee Stock Purchase Plan | -9 | ' | -9 | ' | ' |
Restricted Share Grants | 329 | 32 | 297 | ' | ' |
Restricted Share Grants (in shares) | ' | 32,578 | ' | ' | ' |
Income Tax Benefit from Restricted Share Grant | 28 | ' | 28 | ' | ' |
Balances at Dec. 31, 2013 | $200,097 | $13,174 | $108,022 | $84,164 | ($5,263) |
Balances (in shares) at Dec. 31, 2013 | ' | 13,173,793 | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Consolidated Statements of Changes in Shareholders? Equity [Abstract] | ' | ' | ' |
Cash Dividends, per share | $0.60 | $0.56 | $0.56 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income | $25,413 | $24,055 | $20,249 |
Adjustments to Reconcile Net Income to Net Cash from Operating Activities: | ' | ' | ' |
Net Amortization on Securities | 2,875 | 4,567 | 2,509 |
Depreciation and Amortization | 4,461 | 4,688 | 5,139 |
Loans Originated for Sale | -158,845 | -181,993 | -143,738 |
Proceeds from Sales of Loans Held-for-Sale | 169,242 | 189,984 | 136,364 |
Loss in Investment in Limited Partnership | ' | ' | 20 |
Provision for Loan Losses | 350 | 2,412 | 6,800 |
Gain on Sale of Loans, net | -2,645 | -3,234 | -2,381 |
Gain on Securities, net | -2,429 | -1,667 | -3,024 |
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets | 291 | -221 | 165 |
Loss (Gain) on Disposition and Impairment of Premises and Equipment | -70 | -1 | 28 |
Post Retirement Medical Benefit | 17 | 31 | ' |
Other-than-temporary Impairment on Securities | ' | ' | 110 |
Increase in Cash Surrender Value of Company Owned Life Insurance | -955 | -960 | -1,107 |
Equity Based Compensation | 329 | 628 | 635 |
Excess Tax Benefit from Restricted Share Grant | -28 | -23 | -37 |
Change in Assets and Liabilities: | ' | ' | ' |
Interest Receivable and Other Assets | 6,016 | 3,433 | 5,020 |
Interest Payable and Other Liabilities | -2,376 | 298 | -136 |
Net Cash from Operating Activities | 41,646 | 41,997 | 26,616 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Proceeds from Maturity of Other Short-term Investments | 2,690 | 3,236 | 6,223 |
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale | 136,173 | 143,253 | 99,272 |
Redemption of Federal Reserve Bank Stock | ' | ' | 694 |
Proceeds from Sales of Securities Available-for-Sale | 162,344 | 92,344 | 20,061 |
Purchase of Securities Available-for-Sale | -271,218 | -312,063 | -296,547 |
Proceeds from Maturities of Securities Held-to-Maturity | 78 | 344 | 915 |
Proceeds from Redemption of Federal Home Loan Bank Stock | ' | ' | 1,523 |
Purchase of Loans | -744 | ' | ' |
Proceeds from Sales of Loans | 3,250 | 9,560 | 3,364 |
Loans Made to Customers, net of Payments Received | -102,722 | -98,620 | 3,498 |
Proceeds from Sales of Other Real Estate | 2,081 | 3,899 | 4,231 |
Property and Equipment Expenditures | -3,659 | -3,617 | -3,965 |
Proceeds from Sales of Property and Equipment | 88 | 1 | 12 |
Acquire Capitalized Lease | -1,455 | ' | -7 |
Acquisition of United Commerce Bank | 5,858 | ' | ' |
Acquisition of American Community Bancorp, Inc. | ' | ' | 55,780 |
Net Cash from Investing Activities | -67,236 | -161,663 | -104,946 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Change in Deposits | 64,645 | 84,779 | 166,416 |
Change in Short-term Borrowings | -18,000 | 31,515 | -32,682 |
Advances in Long-term Debt | 47,000 | 20,000 | ' |
Repayments of Long-term Debt | -49,379 | -21,569 | -6,549 |
Issuance of Common Stock | 20 | 37 | 12 |
Income Tax Benefit from Restricted Share Grant | 28 | 23 | 37 |
Employee Stock Purchase Plan | -9 | -67 | -25 |
Dividends Paid | -7,670 | -7,068 | -7,047 |
Net Cash from Financing Activities | 36,635 | 107,650 | 120,162 |
Net Change in Cash and Cash Equivalents | 11,045 | -12,016 | 41,832 |
Cash and Cash Equivalents at Beginning of Year | 49,087 | 61,103 | 19,271 |
Cash and Cash Equivalents at End of Year | 60,132 | 49,087 | 61,103 |
Cash Paid During the Year for | ' | ' | ' |
Interest | 7,653 | 11,521 | 16,577 |
Income Taxes | 10,268 | 8,990 | 6,693 |
Supplemental Non Cash Disclosures | ' | ' | ' |
Loans Transferred to Other Real Estate | 851 | 2,980 | 3,492 |
Securities Transferred to Accounts Receivable | ' | 45,803 | 43,167 |
Accounts Receivable Transferred to Securities | ($45,803) | ($43,167) | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
NOTE 1 - Summary of Significant Accounting Policies | |
Description of Business and Basis of Presentation | |
German American Bancorp, Inc. operations are primarily comprised of three business segments: core banking, trust and investment advisory services, and insurance operations. The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries conform to U.S. generally accepted accounting principles. The more significant policies are described below. The consolidated financial statements include the accounts of the Company and its subsidiaries after elimination of all material intercompany accounts and transactions. Certain prior year amounts have been reclassified to conform with current classifications. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. Estimates susceptible to change in the near term include the allowance for loan losses, fair value of financial instruments, other-than-temporary impairment of securities, the valuation allowance on deferred tax assets, and loss contingencies. | |
Securities | |
Securities classified as available-for-sale are securities that the Company intends to hold for an indefinite period of time, but not necessarily until maturity. These include securities that management may use as part of its asset/liability strategy, or that may be sold in response to changes in interest rates, changes in prepayment risk, or similar reasons. Equity securities with readily determinable fair values are classified as available-for-sale. Equity securities that do not have readily determinable fair values are carried at historical cost and evaluated for impairment on a periodic basis. Securities classified as available-for-sale are reported at fair value with unrealized gains or losses included as a separate component of equity, net of tax. Securities classified as held-to-maturity are securities that the Company has both the ability and positive intent to hold to maturity. Securities held-to-maturity are carried at amortized cost. | |
Premium amortization is deducted from, and discount accretion is added to, interest income using the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on trade date and are computed on the identified securities method. | |
Management evaluates securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | |
Loans Held for Sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at fair value. Fair value is determined based on collateral value and prevailing market prices for loans with similar characteristics. Net unrealized gains or losses are recorded through earnings. | |
Mortgage loans held for sale are generally sold on a servicing released basis. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | |
Loans | |
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on unpaid principal balance and includes amortization of net deferred loan fees and costs over the loan term without anticipating prepayments. | |
All classes of loans are generally placed on non-accrual status when scheduled principal or interest payments are past due for 90 days or more or when the borrower's ability to repay becomes doubtful. Uncollected accrued interest for each class of loans is reversed against income at the time a loan is placed on non-accrual. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. All classes of loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans are typically charged-off at 180 days past due, or earlier if deemed uncollectible. Exceptions to the non-accrual and charge-off policies are made when the loan is well secured and in the process of collection. | |
Certain Purchased Loans | |
The Company purchases individual loans and groups of loans. Purchased loans that show evidence of credit deterioration since origination are recorded at the amount paid (or allocated fair value in a purchase business combination), such that there is no carryover of the seller's allowance for loan losses. After acquisition, incurred losses are recognized by an increase in the allowance for loan losses. | |
Such purchased loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan's or pool's contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). | |
Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. | |
Allowance for Loan Losses | |
The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other 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. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or special mention. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. For 2012 and 2011, the Company utilized a 4 quarter rolling historical loan loss average. Beginning in 2013, management deemed a rolling 12 quarter historical loan loss average to be more indicative of the inherent losses in the Company's loan portfolio in the current economic environment than the 4 quarter average. As the Company continues to monitor the current portfolio, the methodology could change in the future. | |
Loan impairment is reported when full repayment under the terms of the loan is not expected. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated future cash flows using the loan's existing rate, or at the fair value of collateral if repayment is expected solely from the collateral. Commercial and industrial loans, commercial real estate loans, and agricultural loans are evaluated individually for impairment. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include real estate loans secured by one-to-four family residences and loans to individuals for household, family and other personal expenditures. Individually evaluated loans on non-accrual are generally considered impaired. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |
Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan's effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. | |
The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and risk classifications and is based on the actual loss history experienced by the Company over the most recent twelve quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial Loans and Retail Loans. Commercial Loans have been classified according to the following risk characteristics: Commercial and Industrial Loans and Leases, Commercial Real Estate, and Agricultural Loans. Commercial and Industrial loans are primarily based on the cash flows of the business operations and secured by assets being financed and other assets such as accounts receivable and inventory. Commercial Real Estate Loans and Agricultural Loans are primarily based on cash flow of the borrower and their business and further secured by real estate. All types of commercial and agricultural (real estate secured and non-real estate) may also come with personal guarantees of the borrowers and business owners. Retail Loans have been classified according to the following risk characteristics: Home Equity Loans, Consumer Loans and Residential Mortgage Loans. Retail loans are generally dependent on personal income of the customer, and repayment is dependent on borrower's personal cash flow and employment status which can be affected by general economic conditions. Additionally, collateral values may fluctuate based on the impact of economic conditions on residential real estate values and other consumer type assets such as automobiles. | |
Loans or portions of loans shall be charged off when there is a distinct probability of loss identified. A distinct probability of loss exists when it has been determined that any remaining sources of repayment are insufficient to cover all outstanding principal. The probable loss is immediately calculated based on the value of the remaining sources of repayment and charged to the allowance for loan loss. | |
Federal Home Loan Bank (FHLB) Stock | |
The Bank is a member of the FHLB of Indianapolis. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |
Premises, Furniture and Equipment | |
Land is carried at cost. Premises, furniture, and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging generally from 10 to 40 years. Furniture, fixtures, and equipment are depreciated using the straight-line method with useful lives ranging generally from 3 to 10 years. | |
Other Real Estate | |
Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. | |
Goodwill and Other Intangible Assets | |
Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on the Company's balance sheet. | |
Other intangible assets consist of core deposit and acquired customer relationship intangible assets. They are initially measured at fair value and then are amortized over their estimated useful lives, which range from 6 to 10 years. | |
Company Owned Life Insurance | |
The Company has purchased life insurance policies on certain directors and executives. This life insurance is recorded at its cash surrender value or the amount that can be realized, which considers any adjustments or changes that are probable at settlement. | |
Loss Contingencies | |
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe currently that there are any such matters that will have a material impact on the financial statements. | |
Loan Commitments and Related Financial Instruments | |
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |
Restrictions on Cash | |
At December 31, 2013 and 2012, respectively, the Company was required to have $7,431 and $10,752 on deposit with the Federal Reserve, or as cash on hand. | |
Long-term Assets | |
Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |
Stock Based Compensation | |
Compensation cost is recognized for stock options and restricted stock awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation's common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. | |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale and changes in unrecognized amounts in pension and other postretirement benefits, which are also recognized as a separate component of equity. | |
Income Taxes | |
Deferred tax liabilities and assets are determined at each balance sheet date and are the result of differences in the financial statement and tax bases of assets and liabilities. Income tax expense is the amount due on the current year tax returns plus or minus the change in deferred taxes. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |
A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. | |
Retirement Plans | |
Pension expense under the suspended defined benefit plan is the net of interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) and profit sharing plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. | |
Earnings Per Share | |
Earnings per share are based on net income divided by the weighted average number of shares outstanding during the period. Diluted earnings per share show the potential dilutive effect of additional common shares issuable under the Company's stock based compensation plans. Earnings per share are retroactively restated for stock dividends. | |
Cash Flow Reporting | |
The Company reports net cash flows for customer loan transactions, deposit transactions, deposits made with other financial institutions and short-term borrowings. Cash and cash equivalents are defined to include cash on hand, demand deposits in other institutions and Federal Funds Sold. | |
Fair Values of Financial Instruments | |
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | |
New Accounting Pronouncements | |
In February 2013, the FASB issued an update (ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income) impacting FASB ASC 220, Comprehensive Income. This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about these amounts. This update became effective for the Company for interim and annual periods beginning after December 15, 2012 and did not have a material impact on the consolidated financial statements. |
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
NOTE 2 - Securities | |||||||||||||||||||||||||
The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale were as follows: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Securities Available-for-Sale: | Cost | Gains | Losses | Value | |||||||||||||||||||||
2013 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 20,000 | $ | - | $ | (1,048 | ) | $ | 18,952 | ||||||||||||||||
Obligations of State and Political Subdivisions | 112,008 | 2,388 | (899 | ) | 113,497 | ||||||||||||||||||||
Mortgage-backed Securities - Residential | 481,724 | 3,497 | (11,991 | ) | 473,230 | ||||||||||||||||||||
Equity Securities | 353 | - | - | 353 | |||||||||||||||||||||
Total | $ | 614,085 | $ | 5,885 | $ | (13,938 | ) | $ | 606,032 | ||||||||||||||||
2012 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 23,570 | $ | 40 | $ | (138 | ) | $ | 23,472 | ||||||||||||||||
Obligations of State and Political Subdivisions | 71,352 | 5,145 | (12 | ) | 76,485 | ||||||||||||||||||||
Mortgage-backed Securities - Residential | 475,452 | 11,505 | (45 | ) | 486,912 | ||||||||||||||||||||
Equity Securities | 684 | 49 | - | 733 | |||||||||||||||||||||
Total | $ | 571,058 | $ | 16,739 | $ | (195 | ) | $ | 587,602 | ||||||||||||||||
The carrying amount, unrecognized gains and losses and fair value of Securities Held-to-Maturity were as follows: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Carrying | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Securities Held-to-Maturity: | Amount | Gains | Losses | Value | |||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 268 | $ | 3 | $ | - | $ | 271 | |||||||||||||||||
2012 | |||||||||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 346 | $ | 5 | $ | - | $ | 351 | |||||||||||||||||
The amortized cost and fair value of Securities at December 31, 2013 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed and Equity Securities are not due at a single maturity date and are shown separately. | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Securities Available-for-Sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 2,935 | $ | 2,996 | |||||||||||||||||||||
Due after one year through five years | 9,890 | 10,038 | |||||||||||||||||||||||
Due after five years through ten years | 69,906 | 69,802 | |||||||||||||||||||||||
Due after ten years | 49,277 | 49,613 | |||||||||||||||||||||||
Mortgage-backed Securities - Residential | 481,724 | 473,230 | |||||||||||||||||||||||
Equity Securities | 353 | 353 | |||||||||||||||||||||||
Total | $ | 614,085 | $ | 606,032 | |||||||||||||||||||||
Carrying | Fair | ||||||||||||||||||||||||
Amount | Value | ||||||||||||||||||||||||
Securities Held-to-Maturity: | |||||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||||||||||
Due after one year through five years | 268 | 271 | |||||||||||||||||||||||
Due after five years through ten years | - | - | |||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||
Total | $ | 268 | $ | 271 | |||||||||||||||||||||
Proceeds from the Sales of Securities are summarized below: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Available- | Available- | Available- | |||||||||||||||||||||||
for-Sale | for-Sale | for-Sale | |||||||||||||||||||||||
Proceeds from Sales | $ | 162,344 | $ | 92,344 | $ | 20,061 | |||||||||||||||||||
Gross Gains on Sales | 2,086 | 1,667 | 2,089 | ||||||||||||||||||||||
Income Taxes on Gross Gains | 730 | 583 | 721 | ||||||||||||||||||||||
The Company held a minority interest in United Commerce Bancorp prior to the acquisition on October 1, 2013. For the year ended December 31, 2013, the Company recognized a gain of $343 on the stock held of United Commerce Bancorp as a result of the acquisition. | |||||||||||||||||||||||||
The Company held a minority interest in American Community Bancorp, Inc. prior to the acquisition on January 1, 2011. For the year ended December 31, 2011, the Company recognized a gain of $1.045 million on the stock held of American Community Bancorp, Inc. as a result of the acquisition. | |||||||||||||||||||||||||
The carrying value of securities pledged to secure repurchase agreements, public and trust deposits, and for other purposes as required by law was $141,240 and $61,744 as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Below is a summary of securities with unrealized losses as of year-end 2013 and 2012, presented by length of time the securities have been in a continuous unrealized loss position: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 18,952 | $ | (1,048 | ) | $ | - | $ | - | $ | 18,952 | $ | (1,048 | ) | |||||||||||
Obligations of State and Political Subdivisions | 38,878 | (899 | ) | - | - | 38,878 | (899 | ) | |||||||||||||||||
Mortgage-backed Securities - Residential | 346,028 | (11,903 | ) | 1,735 | (88 | ) | 347,763 | (11,991 | ) | ||||||||||||||||
Equity Securities | - | - | - | - | - | - | |||||||||||||||||||
Total | $ | 403,858 | $ | (13,850 | ) | $ | 1,735 | $ | (88 | ) | $ | 405,593 | $ | (13,938 | ) | ||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 19,862 | $ | (138 | ) | $ | - | $ | - | $ | 19,862 | $ | (138 | ) | |||||||||||
Obligations of State and Political Subdivisions | 1,042 | (12 | ) | - | - | 1,042 | (12 | ) | |||||||||||||||||
Mortgage-backed Securities - Residential | 18,323 | (45 | ) | - | - | 18,323 | (45 | ) | |||||||||||||||||
Equity Securities | - | - | - | - | - | - | |||||||||||||||||||
Total | $ | 39,227 | $ | (195 | ) | $ | - | $ | - | $ | 39,227 | $ | (195 | ) | |||||||||||
Securities are written down to fair value when a decline in fair value is not considered temporary. In estimating other-than-temporary losses, management considers many factors, 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 affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The Company doesn't intend to sell or expect to be required to sell these securities, and the decline in fair value is largely due to changes in market interest rates, therefore, the Company does not consider these securities to be other-than-temporarily impaired. All mortgage-backed securities in the Company's portfolio are guaranteed by government sponsored entities, are investment grade, and are performing as expected. | |||||||||||||||||||||||||
The Company's equity securities consist of non-controlling investments in other banking organizations. When a decline in fair value below cost is deemed to be other-than-temporary, the unrealized loss must be recognized as a charge to earnings. At December 31, 2013 and 2012, none of the Company's equity securities had an unrealized loss. |
Derivatives
Derivatives | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivatives [Abstract] | ' | ||||||||||||||||
Derivatives | ' | ||||||||||||||||
NOTE 3 - Derivatives | |||||||||||||||||
The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. The notional amounts of these interest rate swaps and the offsetting counterparty derivative instruments were $17.9 million and $6.1 million at December 31, 2013 and 2012, respectively. These interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions with approved, reputable, independent counterparties with substantially matching terms. The agreements are considered stand alone derivatives and changes in the fair value of derivatives are reported in earnings as non-interest income. | |||||||||||||||||
Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. The Company's exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. There are provisions in the agreements with the counterparties that allow for certain unsecured credit exposure up to an agreed threshold. Exposures in excess of the agreed thresholds are collateralized. In addition, the Company minimizes credit risk through credit approvals, limits, and monitoring procedures. | |||||||||||||||||
The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of December 31: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Included in Other Assets: | |||||||||||||||||
Interest Rate Swaps | $ | 17,853 | $ | 866 | $ | 6,051 | $ | 187 | |||||||||
Included in Other Liabilities: | |||||||||||||||||
Interest Rate Swaps | $ | 17,853 | $ | 737 | $ | 6,051 | $ | 178 | |||||||||
The following tables present the effect of derivative instruments on the Consolidated Statement of Income for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Interest Rate Swaps: | |||||||||||||||||
Included in Interest Income / (Expense) | $ | - | $ | - | $ | - | |||||||||||
Included in Other Income / (Expense) | 528 | 163 | - | ||||||||||||||
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
NOTE 4 - Loans | |||||||||||||||||||||||||||||||||
Loans were comprised of the following classifications at December 31: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 350,955 | $ | 335,373 | |||||||||||||||||||||||||||||
Commercial Real Estate Loans | 582,066 | 488,496 | |||||||||||||||||||||||||||||||
Agricultural Loans | 192,880 | 179,906 | |||||||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||||
Home Equity Loans | 81,504 | 74,437 | |||||||||||||||||||||||||||||||
Consumer Loans | 49,124 | 41,103 | |||||||||||||||||||||||||||||||
Residential Mortgage Loans | 128,683 | 88,586 | |||||||||||||||||||||||||||||||
Subtotal | 1,385,212 | 1,207,901 | |||||||||||||||||||||||||||||||
Less: Unearned Income | (2,830 | ) | (3,035 | ) | |||||||||||||||||||||||||||||
Allowance for Loan Losses | (14,584 | ) | (15,520 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 1,367,798 | $ | 1,189,346 | |||||||||||||||||||||||||||||
The following tables present the activity in the allowance for loan losses by portfolio class for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | $ | 15,520 | |||||||||||||||||
Provision for Loan Losses | (197 | ) | (160 | ) | (43 | ) | 419 | 112 | 111 | 108 | 350 | ||||||||||||||||||||||
Recoveries | 128 | 102 | - | - | 148 | 8 | - | 386 | |||||||||||||||||||||||||
Loans Charged-off | (503 | ) | (538 | ) | - | (321 | ) | (286 | ) | (24 | ) | - | (1,672 | ) | |||||||||||||||||||
Ending Balance | $ | 3,983 | $ | 8,335 | $ | 946 | $ | 239 | $ | 188 | $ | 281 | $ | 612 | $ | 14,584 | |||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,493 | $ | 9,297 | $ | 926 | $ | 258 | $ | 190 | $ | 402 | $ | 746 | $ | 15,312 | |||||||||||||||||
Provision for Loan Losses | 1,150 | 1,326 | 63 | (32 | ) | 194 | (47 | ) | (242 | ) | 2,412 | ||||||||||||||||||||||
Recoveries | 74 | 97 | - | 2 | 123 | 30 | - | 326 | |||||||||||||||||||||||||
Loans Charged-off | (162 | ) | (1,789 | ) | - | (87 | ) | (293 | ) | (199 | ) | - | (2,530 | ) | |||||||||||||||||||
Ending Balance | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | $ | 15,520 | |||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,713 | $ | 7,497 | $ | 750 | $ | 220 | $ | 362 | $ | 543 | $ | 232 | $ | 13,317 | |||||||||||||||||
Provision for Loan Losses | 1,195 | 4,265 | 176 | 287 | 23 | 340 | 514 | 6,800 | |||||||||||||||||||||||||
Recoveries | 98 | 139 | - | 6 | 125 | 16 | - | 384 | |||||||||||||||||||||||||
Loans Charged-off | (1,513 | ) | (2,604 | ) | - | (255 | ) | (320 | ) | (497 | ) | - | (5,189 | ) | |||||||||||||||||||
Ending Balance | $ | 3,493 | $ | 9,297 | $ | 926 | $ | 258 | $ | 190 | $ | 402 | $ | 746 | $ | 15,312 | |||||||||||||||||
In determining the adequacy of the allowance for loan loss, general allocations are made for pools of loans, including non-classified loans, homogeneous portfolios of consumer and residential real estate loans, and loans within certain industry categories believed to present unique risk of loss. General allocations of the allowance are primarily made based on a three-year historical average for loan losses for these portfolios, judgmentally adjusted for current economic factors and portfolio trends. For 2012 and 2011, the Company utilized a 4 quarter rolling historical loan loss average. Beginning in 2013, management deemed a rolling 12 quarter historical loan loss average to be more indicative of the inherent losses in the Company's loan portfolio in the current economic environment than the 4 quarter average. This change in methodology resulted in an increase to the required loan loss allowance of approximately $280 in 2013. | |||||||||||||||||||||||||||||||||
Loan impairment is reported when full repayment under the terms of the loan is not expected. This methodology is used for all loans, including loans acquired with deteriorated credit quality. For purchased loans, the assessment is made at the time of acquisition as well as over the life of loan. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated future cash flows using the loan's existing rate, or at the fair value of collateral if repayment is expected solely from the collateral. Commercial and industrial loans, commercial real estate loans, and agricultural loans are evaluated individually for impairment. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include real estate loans secured by one-to-four family residences and loans to individuals for household, family and other personal expenditures. Individually evaluated loans on non-accrual are generally considered impaired. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |||||||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
31-Dec-13 | Total | Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | |||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 3,095 | $ | 45 | $ | 3,050 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Collectively Evaluated for Impairment | 11,481 | 3,938 | 5,277 | 946 | 239 | 188 | 281 | 612 | |||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 8 | - | 8 | - | - | - | - | - | |||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 14,584 | $ | 3,983 | $ | 8,335 | $ | 946 | $ | 239 | $ | 188 | $ | 281 | $ | 612 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 8,458 | $ | 2,114 | $ | 6,344 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 1,367,591 | 347,808 | 566,389 | 195,171 | 81,812 | 49,131 | 127,280 | - | |||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 14,753 | 1,981 | 10,871 | - | - | 134 | 1,767 | - | |||||||||||||||||||||||||
Total Ending Loans Balance (1) | $ | 1,390,802 | $ | 351,903 | $ | 583,604 | $ | 195,171 | $ | 81,812 | $ | 49,265 | $ | 129,047 | $ | - | |||||||||||||||||
(1) Total recorded investment in loans includes $5,590 in accrued interest. | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
31-Dec-12 | Total | Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | |||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 5,323 | $ | 1,279 | $ | 3,894 | $ | 150 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Collectively Evaluated for Impairment | 10,109 | 3,208 | 5,017 | 839 | 141 | 214 | 186 | 504 | |||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 88 | 68 | 20 | - | - | - | - | - | |||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 15,520 | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 12,520 | $ | 2,547 | $ | 7,550 | $ | 2,423 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 1,189,729 | 331,920 | 473,209 | 180,152 | 74,699 | 41,083 | 88,666 | - | |||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 11,174 | 1,840 | 9,037 | - | - | 148 | 149 | - | |||||||||||||||||||||||||
Total Ending Loans Balance (1) | $ | 1,213,423 | $ | 336,307 | $ | 489,796 | $ | 182,575 | $ | 74,699 | $ | 41,231 | $ | 88,815 | $ | - | |||||||||||||||||
(1) Total recorded investment in loans includes $5,522 in accrued interest. | |||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Unpaid | Allowance for | ||||||||||||||||||||||||||||||||
Principal | Recorded | Loan Losses | |||||||||||||||||||||||||||||||
Balance(1) | Investment | Allocated | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,163 | $ | 2,072 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,710 | 2,383 | - | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 6,873 | 4,455 | - | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 45 | 45 | 45 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,428 | 4,417 | 3,058 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 4,473 | 4,462 | 3,103 | ||||||||||||||||||||||||||||||
Total | $ | 11,346 | $ | 8,917 | $ | 3,103 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 987 | $ | 451 | $ | - | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 33 | $ | 8 | $ | 8 | |||||||||||||||||||||||||||
(1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. | |||||||||||||||||||||||||||||||||
Unpaid | Allowance for | ||||||||||||||||||||||||||||||||
Principal | Recorded | Loan Losses | |||||||||||||||||||||||||||||||
Balance(1) | Investment | Allocated | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 108 | $ | 87 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,312 | 2,154 | - | ||||||||||||||||||||||||||||||
Agricultural Loans | 2,126 | 2,137 | - | ||||||||||||||||||||||||||||||
Subtotal | 6,546 | 4,378 | - | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2,642 | 2,581 | 1,347 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 5,579 | 5,418 | 3,914 | ||||||||||||||||||||||||||||||
Agricultural Loans | 285 | 286 | 150 | ||||||||||||||||||||||||||||||
Subtotal | 8,506 | 8,285 | 5,411 | ||||||||||||||||||||||||||||||
Total | $ | 15,052 | $ | 12,663 | $ | 5,411 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 45 | $ | 25 | $ | - | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 155 | $ | 118 | $ | 88 | |||||||||||||||||||||||||||
(1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. | |||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 1,192 | $ | 65 | $ | 65 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 2,251 | 5 | 7 | ||||||||||||||||||||||||||||||
Agricultural Loans | 1,420 | 209 | 225 | ||||||||||||||||||||||||||||||
Subtotal | 4,863 | 279 | 297 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1,360 | 3 | 3 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 5,424 | 22 | 18 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 6,784 | 25 | 21 | ||||||||||||||||||||||||||||||
Total | $ | 11,647 | $ | 304 | $ | 318 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 30 | $ | 3 | $ | 3 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 142 | $ | 2 | $ | 2 | |||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 252 | $ | 3 | $ | 3 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,506 | 18 | 18 | ||||||||||||||||||||||||||||||
Agricultural Loans | 535 | 2 | 2 | ||||||||||||||||||||||||||||||
Subtotal | 5,293 | 23 | 23 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2,726 | 9 | 8 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,660 | 23 | 19 | ||||||||||||||||||||||||||||||
Agricultural Loans | 74 | - | - | ||||||||||||||||||||||||||||||
Subtotal | 9,460 | 32 | 27 | ||||||||||||||||||||||||||||||
Total | $ | 14,753 | $ | 55 | $ | 50 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 26 | $ | 2 | $ | 2 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 154 | $ | 6 | $ | 4 | |||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 1,107 | $ | 9 | $ | 9 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,438 | 75 | 75 | ||||||||||||||||||||||||||||||
Agricultural Loans | 19 | 6 | 6 | ||||||||||||||||||||||||||||||
Subtotal | 5,564 | 90 | 90 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 3,642 | 11 | 11 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 9,390 | 37 | 34 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 13,032 | 48 | 45 | ||||||||||||||||||||||||||||||
Total | $ | 18,596 | $ | 138 | $ | 135 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 28 | $ | 4 | $ | 4 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 77 | $ | 1 | $ | 1 | |||||||||||||||||||||||||||
All classes of loans, including loans acquired with deteriorated credit quality, are generally placed on non-accrual status when scheduled principal or interest payments are past due for 90 days or more or when the borrower's ability to repay becomes doubtful. For purchased loans, the determination is made at the time of acquisition as well as over the life of the loan. Uncollected accrued interest for each class of loans is reversed against income at the time a loan is placed on non-accrual. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. All classes of loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans are typically charged-off at 180 days past due, or earlier if deemed uncollectible. Exceptions to the non-accrual and charge-off policies are made when the loan is well secured and in the process of collection. | |||||||||||||||||||||||||||||||||
The following table presents the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Loans Past Due | |||||||||||||||||||||||||||||||||
90 Days or More | |||||||||||||||||||||||||||||||||
Non-Accrual | & Still Accruing | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 31 | $ | 2,480 | $ | - | $ | - | |||||||||||||||||||||||||
Commercial Real Estate Loans | 6,658 | 7,275 | 8 | - | |||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | - | |||||||||||||||||||||||||||||
Home Equity Loans | 114 | 178 | - | - | |||||||||||||||||||||||||||||
Consumer Loans | 236 | 167 | - | - | |||||||||||||||||||||||||||||
Residential Mortgage Loans | 1,339 | 257 | - | - | |||||||||||||||||||||||||||||
Total | $ | 8,378 | $ | 10,357 | $ | 8 | $ | - | |||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality | $ | 1,705 | $ | 148 | $ | - | $ | - | |||||||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | or More | Total | Loans Not | |||||||||||||||||||||||||||||
Total | Past Due | Past Due | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 351,903 | $ | 256 | $ | 78 | $ | - | $ | 334 | $ | 351,569 | |||||||||||||||||||||
Commercial Real Estate Loans | 583,604 | 613 | 62 | 2,234 | 2,909 | 580,695 | |||||||||||||||||||||||||||
Agricultural Loans | 195,171 | 62 | - | - | 62 | 195,109 | |||||||||||||||||||||||||||
Home Equity Loans | 81,812 | 303 | 33 | 114 | 450 | 81,362 | |||||||||||||||||||||||||||
Consumer Loans | 49,265 | 149 | 66 | 102 | 317 | 48,948 | |||||||||||||||||||||||||||
Residential Mortgage Loans | 129,047 | 2,206 | 192 | 1,115 | 3,513 | 125,534 | |||||||||||||||||||||||||||
Total (1) | $ | 1,390,802 | $ | 3,589 | $ | 431 | $ | 3,565 | $ | 7,585 | $ | 1,383,217 | |||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality | $ | 14,753 | $ | 148 | $ | - | $ | 1,103 | $ | 1,251 | $ | 13,502 | |||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
(1) Total recorded investment in loans includes $5,590 in accrued interest. | |||||||||||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | or More | Total | Loans Not | |||||||||||||||||||||||||||||
Total | Past Due | Past Due | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 336,307 | $ | 436 | $ | 133 | $ | 448 | $ | 1,017 | $ | 335,290 | |||||||||||||||||||||
Commercial Real Estate Loans | 489,796 | 1,352 | - | 2,063 | 3,415 | 486,381 | |||||||||||||||||||||||||||
Agricultural Loans | 182,575 | 42 | 14 | - | 56 | 182,519 | |||||||||||||||||||||||||||
Home Equity Loans | 74,699 | 177 | 48 | 178 | 403 | 74,296 | |||||||||||||||||||||||||||
Consumer Loans | 41,231 | 431 | 23 | 18 | 472 | 40,759 | |||||||||||||||||||||||||||
Residential Mortgage Loans | 88,815 | 2,070 | 495 | 257 | 2,822 | 85,993 | |||||||||||||||||||||||||||
Total (1) | $ | 1,213,423 | $ | 4,508 | $ | 713 | $ | 2,964 | $ | 8,185 | $ | 1,205,238 | |||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality | $ | 11,174 | $ | - | $ | 120 | $ | - | $ | 120 | $ | 11,054 | |||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
(1) Total recorded investment in loans includes $5,522 in accrued interest. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||
In certain instances, the Company may choose to restructure the contractual terms of loans. A troubled debt restructuring occurs when the Bank grants a concession to the borrower that it would not otherwise consider due to a borrower's financial difficulty. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without modification. This evaluation is performed under the Company's internal underwriting policy. The Company uses the same methodology for loans acquired with deteriorated credit quality as for all other loans when determining whether the loan is a troubled debt restructuring. | |||||||||||||||||||||||||||||||||
During the years ended December 31, 2013 and 2012, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. There were no troubled debt restructurings for the years ended December 31, 2013 and 2012 for loans acquired with deteriorated credit quality at the time of acquisition. | |||||||||||||||||||||||||||||||||
The following table presents the recorded investment of troubled debt restructurings by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Total | Performing | Non-Accrual(1) | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,092 | $ | 2,086 | $ | 6 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,325 | 364 | 3,961 | ||||||||||||||||||||||||||||||
Total | $ | 6,417 | $ | 2,450 | $ | 3,967 | |||||||||||||||||||||||||||
Total | Performing | Non-Accrual(1) | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,461 | $ | 66 | $ | 2,395 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,031 | 304 | 5,727 | ||||||||||||||||||||||||||||||
Total | $ | 8,492 | $ | 370 | $ | 8,122 | |||||||||||||||||||||||||||
(1) The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on previous page. | |||||||||||||||||||||||||||||||||
The Company has committed to lending an additional amount of $40 as of December 31, 2013 to customers with outstanding loans that are classified as troubled debt restructurings. The Company had not committed to lending any additional amounts as of December 31, 2012 to customers with outstanding loans that are classified as troubled debt restructurings. | |||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the year ending December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-13 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 224 | $ | 230 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | 1 | 81 | 118 | ||||||||||||||||||||||||||||||
Total | 2 | $ | 305 | $ | 348 | ||||||||||||||||||||||||||||
The troubled debt restructurings described above decreased the allowance for loan losses by $210 and resulted in charge-offs of $0 during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-12 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2 | $ | 9 | $ | 9 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | - | ||||||||||||||||||||||||||||||
Total | 2 | $ | 9 | $ | 9 | ||||||||||||||||||||||||||||
The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-11 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 4 | $ | 4,541 | $ | 4,499 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | 6 | 7,099 | 6,850 | ||||||||||||||||||||||||||||||
Total | 10 | $ | 11,640 | $ | 11,349 | ||||||||||||||||||||||||||||
The troubled debt restructurings described above increased the allowance for loan losses by $1,945 and resulted in charge-offs of $834 during the year ending December 31, 2011. | |||||||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the years ending December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | - | $ | - | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | |||||||||||||||||||||||||||||||
Total | - | $ | - | ||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above resulted in no change to the allowance for loan losses and no charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 565 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 3 | 1,377 | |||||||||||||||||||||||||||||||
Total | 4 | $ | 1,942 | ||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above increased the allowance for loan losses by $12 and resulted in charge-offs of $306 during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 527 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | |||||||||||||||||||||||||||||||
Total | 1 | $ | 527 | ||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above decreased the allowance for loan losses by $500 and resulted in charge-offs of $500 during the year ending December 31, 2011. | |||||||||||||||||||||||||||||||||
A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. | |||||||||||||||||||||||||||||||||
Credit Quality Indicators: | |||||||||||||||||||||||||||||||||
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, among other factors. The Company classifies loans as to credit risk by individually analyzing loans. This analysis includes commercial and industrial loans, commercial real estate loans, and agricultural loans with an outstanding balance greater than $100. This analysis is typically performed on at least an annual basis. The Company uses the following definitions for risk ratings: | |||||||||||||||||||||||||||||||||
Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. | |||||||||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||||||
Special | |||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 324,685 | $ | 15,485 | $ | 11,733 | $ | - | $ | 351,903 | |||||||||||||||||||||||
Commercial Real Estate Loans | 539,533 | 20,168 | 23,903 | - | 583,604 | ||||||||||||||||||||||||||||
Agricultural Loans | 192,609 | 2,357 | 205 | - | 195,171 | ||||||||||||||||||||||||||||
Total | $ | 1,056,827 | $ | 38,010 | $ | 35,841 | $ | - | $ | 1,130,678 | |||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | $ | 3,121 | $ | 661 | $ | 9,070 | $ | - | $ | 12,852 | |||||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
Special | |||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 307,997 | $ | 14,441 | $ | 13,869 | $ | - | $ | 336,307 | |||||||||||||||||||||||
Commercial Real Estate Loans | 446,639 | 21,338 | 21,819 | - | 489,796 | ||||||||||||||||||||||||||||
Agricultural Loans | 176,730 | 2,855 | 2,990 | - | 182,575 | ||||||||||||||||||||||||||||
Total | $ | 931,366 | $ | 38,634 | $ | 38,678 | $ | - | $ | 1,008,678 | |||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | $ | 319 | $ | 3,220 | $ | 7,338 | $ | - | $ | 10,877 | |||||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For home equity, consumer and residential mortgage loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in home equity, consumer and residential mortgage loans based on payment activity as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Home Equity | Consumer | Residential | |||||||||||||||||||||||||||||||
Loans | Loans | Mortgage Loans | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Performing | $ | 81,698 | $ | 49,029 | $ | 127,708 | |||||||||||||||||||||||||||
Nonperforming | 114 | 236 | 1,339 | ||||||||||||||||||||||||||||||
Total | $ | 81,812 | $ | 49,265 | $ | 129,047 | |||||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | $ | - | $ | 134 | $ | 1,767 | |||||||||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
Home Equity | Consumer | Residential | |||||||||||||||||||||||||||||||
Loans | Loans | Mortgage Loans | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Performing | $ | 74,521 | $ | 41,064 | $ | 88,558 | |||||||||||||||||||||||||||
Nonperforming | 178 | 167 | 257 | ||||||||||||||||||||||||||||||
Total | $ | 74,699 | $ | 41,231 | $ | 88,815 | |||||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | $ | - | $ | 148 | $ | 149 | |||||||||||||||||||||||||||
(Included in the Total Above) | |||||||||||||||||||||||||||||||||
The following table presents financing receivables purchased during the year ended December 31, 2013 by portfolio class (for further discussion, see Note 17 Business Combinations, Goodwill and Intangible Assets): | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Total | |||||||||||||||||||||||||||
Purchases | $ | 6,399 | $ | 47,021 | $ | 769 | $ | 4,536 | $ | 1,666 | $ | 19,184 | $ | 79,575 | |||||||||||||||||||
The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The recorded investment of those loans at December 31, is as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Commercial and Industrial Loans | $ | 1,981 | $ | 1,840 | $ | 2,596 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 10,871 | 9,037 | 13,209 | ||||||||||||||||||||||||||||||
Home Equity Loans | - | - | - | ||||||||||||||||||||||||||||||
Consumer Loans | 134 | 148 | 164 | ||||||||||||||||||||||||||||||
Residential Mortgage Loans | 1,767 | 149 | 152 | ||||||||||||||||||||||||||||||
Total | $ | 14,753 | $ | 11,174 | $ | 16,121 | |||||||||||||||||||||||||||
Carrying Amount, Net of Allowance | $ | 14,745 | $ | 11,086 | $ | 16,044 | |||||||||||||||||||||||||||
Accretable yield, or income expected to be collected, is as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Balance at January 1 | $ | 170 | $ | 967 | $ | - | |||||||||||||||||||||||||||
New Loans Purchased | 2,885 | - | 2,042 | ||||||||||||||||||||||||||||||
Accretion of Income | (265 | ) | (1,265 | ) | (1,130 | ) | |||||||||||||||||||||||||||
Reclassifications from Non-accretable Difference | - | 468 | 129 | ||||||||||||||||||||||||||||||
Charge-off of Accretable Yield | - | - | (74 | ) | |||||||||||||||||||||||||||||
Balance at December 31 | $ | 2,790 | $ | 170 | $ | 967 | |||||||||||||||||||||||||||
For those purchased loans disclosed above, the Company increased the allowance for loan losses by $0, $88 and $77 for the years ended December 31, 2013, 2012 and 2011. No allowances for loan losses were reversed during the same period. | |||||||||||||||||||||||||||||||||
Contractually required payments receivable of loans purchased during the years ended December 31: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Commercial and Industrial Loans | $ | 401 | $ | - | $ | 4,542 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,640 | - | 19,260 | ||||||||||||||||||||||||||||||
Home Equity Loans | - | - | 28 | ||||||||||||||||||||||||||||||
Consumer Loans | - | - | 217 | ||||||||||||||||||||||||||||||
Residential Mortgage Loans | 3,684 | - | 458 | ||||||||||||||||||||||||||||||
Total | $ | 10,725 | $ | - | $ | 24,505 | |||||||||||||||||||||||||||
Cash Flows Expected to be Collected at Acquisition | $ | 7,642 | $ | - | $ | 19,695 | |||||||||||||||||||||||||||
Fair Value of Acquired Loans at Acquisition | 6,252 | - | 17,653 | ||||||||||||||||||||||||||||||
Certain directors, executive officers, and principal shareholders of the Company, including their immediate families and companies in which they are principal owners, were loan customers of the Company during 2013. A summary of the activity of these loans follows: | |||||||||||||||||||||||||||||||||
Balance | Changes | Balance | |||||||||||||||||||||||||||||||
January 1, | in Persons | Deductions | December 31, | ||||||||||||||||||||||||||||||
2013 | Additions | Included | Collected | Charged-off | 2013 | ||||||||||||||||||||||||||||
$ | 9,002 | $ | 5,426 | $ | 1,290 | $ | (5,387 | ) | $ | - | $ | 10,331 | |||||||||||||||||||||
Premises_Furniture_and_Equipme
Premises, Furniture, and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Premises, Furniture, and Equipment [Abstract] | ' | ||||||||
Premises, Furniture, and Equipment | ' | ||||||||
NOTE 5 - Premises, Furniture, and Equipment | |||||||||
Premises, furniture, and equipment was comprised of the following classifications at December 31: | |||||||||
2013 | 2012 | ||||||||
Land | $ | 8,366 | $ | 7,948 | |||||
Buildings and Improvements | 47,677 | 43,706 | |||||||
Furniture and Equipment | 21,544 | 19,584 | |||||||
Total Premises, Furniture and Equipment | 77,587 | 71,238 | |||||||
Less: Accumulated Depreciation | (37,157 | ) | (34,684 | ) | |||||
Total | $ | 40,430 | $ | 36,554 | |||||
Depreciation expense was $2,910, $2,941, and $3,261 for 2013, 2012, and 2011, respectively. | |||||||||
The Company leases three of its branch buildings under a capital lease. These lease arrangements require monthly payments through 2033. The Company has included the leases in buildings and improvements as follows: | |||||||||
2013 | 2012 | ||||||||
Capital Leases | $ | 3,896 | $ | 2,442 | |||||
Less: Accumulated Depreciation | (483 | ) | (344 | ) | |||||
Total | $ | 3,413 | $ | 2,098 | |||||
The following is a schedule of future minimum lease payments under the capitalized leases, together with the present value of net minimum lease payments at year end 2013: | |||||||||
2014 | $ | 495 | |||||||
2015 | 495 | ||||||||
2016 | 495 | ||||||||
2017 | 495 | ||||||||
2018 | 465 | ||||||||
Thereafter | 6,216 | ||||||||
Total minimum lease payments | 8,661 | ||||||||
Less: Amount representing interest | (4,931 | ) | |||||||
Present Value of Net Minimum Lease Payments | $ | 3,730 | |||||||
Deposits
Deposits | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Deposits [Abstract] | ' | ||||
Deposits | ' | ||||
NOTE 6 - Deposits | |||||
At year end 2013, stated maturities of time deposits were as follows: | |||||
2014 | $ | 174,109 | |||
2015 | 66,131 | ||||
2016 | 76,207 | ||||
2017 | 17,943 | ||||
2018 | 14,465 | ||||
Thereafter | 179 | ||||
Total | $ | 349,034 | |||
Time deposits of $100 or more and brokered deposits at December 31, 2013 and 2012 were $124,673 and $95,761, respectively. | |||||
Time deposits originated from outside the geographic area, generally through brokers, totaled $1,648 and $0 at December 31, 2013 and 2012, respectively. |
FHLB_Advances_and_Other_Borrow
FHLB Advances and Other Borrowings | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
FHLB Advances and Other Borrowings [Abstract] | ' | ||||||||||||||||||||||||||
FHLB Advances and Other Borrowings | ' | ||||||||||||||||||||||||||
NOTE 7 - FHLB Advances and Other Borrowings | |||||||||||||||||||||||||||
The Company's funding sources include Federal Home Loan Bank advances, borrowings from other third party correspondent financial institutions, issuance and sale of subordinated debt and other capital securities, and repurchase agreements. Information regarding each of these types of borrowings or other indebtedness is as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $ | 71,483 | $ | 51,526 | |||||||||||||||||||||||
Term Loans | 7,000 | 1,500 | |||||||||||||||||||||||||
Junior Subordinated Debentures assumed from American Community Bancorp, Inc. | 5,024 | 4,874 | |||||||||||||||||||||||||
Subordinated Debentures | - | 29,250 | |||||||||||||||||||||||||
Capital Lease Obligation | 3,730 | 2,322 | |||||||||||||||||||||||||
Long-term Borrowings | 87,237 | 89,472 | |||||||||||||||||||||||||
Overnight Variable Rate Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $ | 38,000 | $ | 48,500 | |||||||||||||||||||||||
Federal Funds Purchased | - | 5,400 | |||||||||||||||||||||||||
Repurchase Agreements | 15,533 | 17,634 | |||||||||||||||||||||||||
Short-term Borrowings | 53,533 | 71,534 | |||||||||||||||||||||||||
Total Borrowings | $ | 140,770 | $ | 161,006 | |||||||||||||||||||||||
Repurchase agreements, which are classified as secured borrowings, generally mature within one day of the transaction date. Repurchase agreements are reflected at the amount of cash received in connection with the transaction. The Company may be required to provide additional collateral based on the value of the underlying securities. | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Average Daily Balance During the Year | $ | 14,772 | $ | 19,813 | |||||||||||||||||||||||
Average Interest Rate During the Year | 0.2 | % | 0.23 | % | |||||||||||||||||||||||
Maximum Month-end Balance During the Year | $ | 17,722 | $ | 24,220 | |||||||||||||||||||||||
Weighted Average Interest Rate at Year-end | 0.2 | % | 0.2 | % | |||||||||||||||||||||||
At December 31, 2013 interest rates on the fixed rate long-term FHLB advances ranged from 0.35% to 7.22% with a weighted average rate of 0.95%. At December 31, 2013, the Company had no advances containing options whereby the FHLB may convert a fixed rate advance to an adjustable rate advance. | |||||||||||||||||||||||||||
At December 31, 2012 interest rates on the fixed rate long-term FHLB advances ranged from 0.39% to 7.22% with a weighted average rate of 2.07%. Of the $51.5 million, $30.0 million or 58% of the advances contained options whereby the FHLB may convert the fixed rate advance to an adjustable rate advance, at which time the Company may prepay the advance without penalty. The options on these advances are subject to a variety of terms including LIBOR based strike rates. | |||||||||||||||||||||||||||
At December 31, 2013, the Company had an outstanding term loan with the balance of $7 million of which the original principal amount was $10 million and borrowed by the parent company in January 2013. At December 31, 2013 interest on the term loan is based upon 90-day LIBOR plus 2.875%. This term loan matures December 31, 2015. At December 31, 2013, the parent company had a $10 million line of credit with no outstanding balance. The line of credit matures December 30, 2014. Interest on the line of credit is based upon 90-day LIBOR plus 2.875% and includes an unused commitment fee of 0.25%. | |||||||||||||||||||||||||||
As of December 31, 2012 long-term borrowings included a $1.5 million outstanding balance on a term loan of which was paid off in January 2013 by the parent company. At December 31, 2012 interest on the term loan was based upon 90-day LIBOR plus 3.00%. | |||||||||||||||||||||||||||
At December 31, 2012, the long-term borrowings shown above included an aggregate of $29.3 million of indebtedness represented by subordinated debentures issued by the Company's parent company in two separate transactions. A $10 million subordinated debenture issued by the parent company to another bank bore interest based upon 90-day LIBOR plus 1.35%. 20% of the subordinated debenture was treated as Tier 2 capital for regulatory capital purposes as of December 31, 2012. This subordinated debenture was paid off in January 2013. The parent company issued $19.3 million principal amount of 8% redeemable subordinated debentures to the Company's shareholders in April 2009. The entire principal amount of these debentures was treated as Tier 2 capital for regulatory capital purposes as of December 31, 2012. These debentures were redeemed on April 1, 2013. | |||||||||||||||||||||||||||
At December 31, 2013, scheduled principal payments on long-term borrowings, excluding the capitalized lease obligation and acquired subordinated debentures (which are discussed below) are as follows: | |||||||||||||||||||||||||||
2014 | $ | 43,039 | |||||||||||||||||||||||||
2015 | 24,042 | ||||||||||||||||||||||||||
2016 | 45 | ||||||||||||||||||||||||||
2017 | 749 | ||||||||||||||||||||||||||
2018 | 10,027 | ||||||||||||||||||||||||||
Thereafter | 581 | ||||||||||||||||||||||||||
Total | $ | 78,483 | |||||||||||||||||||||||||
The Company assumed the obligations of junior subordinated debentures through the acquisition of American Community Bancorp, Inc. The junior subordinated debentures were issued to ACB Capital Trust I and Capital Trust II. The trusts are wholly owned by the Company. In accordance with accounting guidelines, the trusts are not consolidated with the Company's financials, but rather the subordinated debentures are shown as borrowings. The Company guarantees payment of distributions on the trust preferred securities issued by ACB Trust I and ACB Trust II. Interest is payable on a quarterly basis. These securities qualify as Tier 1 capital (with certain limitations) for regulatory purposes. $4,871 of the junior subordinated debentures were treated as Tier 1 capital for regulatory capital purposes as of December 31, 2013. $4,725 of the junior subordinated debentures were treated as Tier 1 capital for regulatory capital purposes as of December 31, 2012. As a result of the acquisition of American Community these liabilities were recorded at fair value at the acquisition date with the discount amortizing into interest expense over the life of the liability, ultimately accreting to the issuance amount disclosed below. | |||||||||||||||||||||||||||
The following table summarizes the terms of each issuance: | |||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||
Date of | Issuance | Amount at | Rate as of | Rate as of | Maturity | ||||||||||||||||||||||
Issuance | Amount | 31-Dec-13 | Variable Rate | 31-Dec-13 | 31-Dec-12 | Date | |||||||||||||||||||||
ACB Trust I | 5/6/05 | $ | 5,155 | $ | 3,186 | 90 day LIBOR + 2.15% | 2.4 | % | 2.46 | % | May-35 | ||||||||||||||||
ACB Trust II | 7/15/05 | 3,093 | 1,838 | 90 day LIBOR + 1.85% | 2.09 | % | 2.16 | % | Jul-35 | ||||||||||||||||||
See also Note 5 regarding the capital lease obligation. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||||||||||||
Shareholders' Equity | ' | ||||||||||||||||||||||
NOTE 8 - Shareholders' Equity | |||||||||||||||||||||||
The Company and affiliate bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. Management believes as of December 31, 2013, the Company and Bank meet all capital adequacy requirements to which they are subject. | |||||||||||||||||||||||
The prompt corrective action regulations provide five classifications, including well-capitalized, adequately capitalized, under-capitalized, significantly under-capitalized, and critically under-capitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If under-capitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. | |||||||||||||||||||||||
At December 31, 2013, consolidated and affiliate bank actual capital and minimum required levels are presented below: | |||||||||||||||||||||||
Minimum Required | |||||||||||||||||||||||
To Be Well- | |||||||||||||||||||||||
Minimum Required | Capitalized Under | ||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||
Actual | Adequacy Purposes: | Action Regulations: | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
Total Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 201,233 | 13.07 | % | $ | 123,189 | 8 | % | N/A | N/A | |||||||||||||
Bank | 191,714 | 12.46 | 123,099 | 8 | $ | 153,874 | 10 | % | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 186,649 | 12.12 | % | $ | 61,594 | 4 | % | N/A | N/A | |||||||||||||
Bank | 177,130 | 11.51 | 61,550 | 4 | $ | 92,324 | 6 | % | |||||||||||||||
Tier 1 Capital (to Average Assets) | |||||||||||||||||||||||
Consolidated | $ | 186,649 | 8.78 | % | $ | 85,005 | 4 | % | N/A | N/A | |||||||||||||
Bank | 177,130 | 8.37 | 84,686 | 4 | $ | 105,857 | 5 | % | |||||||||||||||
At December 31, 2012, consolidated and affiliate bank actual capital and minimum required levels are presented below: | |||||||||||||||||||||||
Minimum Required | |||||||||||||||||||||||
To Be Well- | |||||||||||||||||||||||
Minimum Required | Capitalized Under | ||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||
Actual | Adequacy Purposes: | Action Regulations: | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
Total Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 194,990 | 13.7 | % | $ | 113,859 | 8 | % | N/A | N/A | |||||||||||||
Bank | 167,904 | 11.83 | 113,523 | 8 | $ | 141,904 | 10 | % | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 158,198 | 11.12 | % | $ | 56,930 | 4 | % | N/A | N/A | |||||||||||||
Bank | 152,384 | 10.74 | 56,762 | 4 | $ | 85,142 | 6 | % | |||||||||||||||
Tier 1 Capital (to Average Assets) | |||||||||||||||||||||||
Consolidated | $ | 158,198 | 8.18 | % | $ | 77,317 | 4 | % | N/A | N/A | |||||||||||||
Bank | 152,384 | 7.91 | 77,025 | 4 | $ | 96,281 | 5 | % | |||||||||||||||
The Company and the affiliate bank at year end 2013 and 2012 were categorized as well-capitalized. There have been no conditions or events that management believes have changed the classification of the Company or affiliate bank under the prompt corrective action regulations since the last notification from regulators. Regulations require the maintenance of certain capital levels at the affiliate bank, and may limit the dividends payable by the affiliate to the holding company, or by the holding company to its shareholders. At December 31, 2013, the affiliate bank had $39,000 in retained earnings available for payment of dividends to the parent company without prior regulatory approval. | |||||||||||||||||||||||
Equity Plans and Equity Based Compensation | |||||||||||||||||||||||
The Company maintains three equity incentive plans under which stock options, restricted stock, and other equity incentive awards can be granted. At December 31, 2013, the Company has reserved 438,813 shares of Common Stock (as adjusted for subsequent stock dividends and subject to further customary anti-dilution adjustments) for the purpose of issuance pursuant to outstanding and future grants of options, restricted stock, and other equity awards to officers, directors and other employees of the Company. | |||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||
Options may be designated as "incentive stock options" under the Internal Revenue Code of 1986, or as nonqualified options. While the date after which options are first exercisable is determined by the appropriate committee of the Board of Directors of the Company or, in the case of options granted to directors, by the Board of Directors, no stock option may be exercised after ten years from the date of grant (twenty years in the case of nonqualified stock options). The exercise price of stock options granted pursuant to the plans must be no less than the fair market value of the Common Stock on the date of the grant. | |||||||||||||||||||||||
The plans authorize an optionee to pay the exercise price of options in cash or in common shares of the Company or in some combination of cash and common shares. An optionee may tender already-owned common shares to the Company in exercise of an option. Certain of these plans authorize an optionee to surrender the value of an unexercised option in payment of an equivalent amount of the exercise price of the option. The Company typically issues authorized but unissued common shares upon the exercise of options. | |||||||||||||||||||||||
The following table presents activity for stock options under the Company's equity incentive plan for 2013: | |||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||
Weighted | Weighted Average | Aggregate | |||||||||||||||||||||
Number of | Average Price | Life of Options | Intrinsic | ||||||||||||||||||||
Options | of Options | (in years) | Value | ||||||||||||||||||||
Outstanding at Beginning of Period | 79,917 | $ | 16.73 | ||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | (8,300 | ) | 17.35 | ||||||||||||||||||||
Forfeited | - | - | |||||||||||||||||||||
Expired | (2,100 | ) | 18.19 | ||||||||||||||||||||
Outstanding and Exercisable at End of Period | 69,517 | $ | 16.61 | 3.43 | $ | 821 | |||||||||||||||||
The following table presents information related to stock options under the Company's equity incentive plan during the years ended 2013, 2012 and 2011: | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Intrinsic Value of Options Exercised | $ | 49 | $ | 203 | $ | 28 | |||||||||||||||||
Cash Received from Option Exercises | $ | - | $ | - | $ | - | |||||||||||||||||
Tax Benefit of Option Exercises | $ | 20 | $ | 78 | $ | 12 | |||||||||||||||||
Weighted Average Fair Value of Options Granted | $ | - | $ | - | $ | - | |||||||||||||||||
The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the market price of common stock as of the reporting date. | |||||||||||||||||||||||
During 2013, 2012 and 2011, the Company granted no options, and accordingly, recorded no stock compensation expense related to option grants. The Company recorded no other stock compensation expense applicable to options during the years ended December 31, 2013, 2012 and 2011 because all outstanding options were fully vested prior to 2007. As of December 31, 2013 and 2012, there was no unrecognized option expense as all outstanding options were fully vested. | |||||||||||||||||||||||
Restricted Stock | |||||||||||||||||||||||
During the periods presented, awards of long-term incentives were granted in the form of restricted stock. Awards that were granted to management under a management incentive plan were granted in tandem with cash credit entitlements (typically in the form of 50% restricted stock grants and 50% cash credit entitlements). The management restricted stock grants and tandem cash credit entitlements awarded in 2013 will vest in three equal installments of 33.3% with the first annual vesting on December 5th of the year of the grant and on December 5th of the next two succeeding years. The management restricted stock grants and tandem cash credit entitlements awarded in 2012 were subject to forfeiture in the event that the recipient of the grant did not continue employment with the Company through December 5th of the year of grant, at which time they generally vest 100 percent. Awards that were granted to directors as additional retainer for their services in December 2012 do not include any cash credit entitlement. These director restricted stock grants are subject to forfeiture in the event that the recipient of the grant does not continue in service as a director of the Company through December 5th of the year after grant or do not satisfy certain meeting attendance requirements, at which time they generally vest 100 percent. For measuring compensation costs, restricted stock awards are valued based upon the market value of the common shares on the date of grant. | |||||||||||||||||||||||
The following table presents expense recorded for restricted stock and cash entitlements as well as the related tax effect for the years ended 2013, 2012 and 2011: | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Restricted Stock Expense | $ | 329 | $ | 628 | $ | 636 | |||||||||||||||||
Cash Entitlement Expense | 217 | 588 | 564 | ||||||||||||||||||||
Tax Effect | (221 | ) | (493 | ) | (475 | ) | |||||||||||||||||
Net of Tax | $ | 325 | $ | 723 | $ | 725 | |||||||||||||||||
Unrecognized expense associated with the restricted stock grants and cash entitlements totaled $942 and $101 as of December 31, 2013 and 2012. There was no unrecognized expense associated with the restricted stock grants as of December 31, 2011. | |||||||||||||||||||||||
The following table presents information on restricted stock grants outstanding for the period shown: | |||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||
Weighted | |||||||||||||||||||||||
Restricted | Average Market | ||||||||||||||||||||||
Shares | Price at Grant | ||||||||||||||||||||||
Outstanding at Beginning of Period | 4,983 | $ | 22.07 | ||||||||||||||||||||
Granted | 33,031 | 23.41 | |||||||||||||||||||||
Issued and Vested | (14,620 | ) | 22.57 | ||||||||||||||||||||
Forfeited | (453 | ) | 22.07 | ||||||||||||||||||||
Outstanding at End of Period | 22,941 | 23.68 | |||||||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||||||||
The Company maintains an Employee Stock Purchase Plan whereby eligible employees have the option to purchase the Company's common stock at a discount. The purchase price of the shares under this Plan has been set at 95% of the fair market value of the Company's common stock as of the last day of the plan year. The plan provided for the purchase of up to 500,000 shares of common stock, which the Company may obtain by purchases on the open market or from private sources, or by issuing authorized but unissued common shares. Funding for the purchase of common stock is from employee and Company contributions. | |||||||||||||||||||||||
The Employee Stock Purchase Plan is not considered compensatory. There was no expense recorded for the employee stock purchase plan in 2013, 2012, and 2011 nor was there any unrecognized compensation expense as of December 31, 2013 and 2012 for the Employee Stock Purchase Plan. | |||||||||||||||||||||||
Stock Repurchase Plan | |||||||||||||||||||||||
On April 26, 2001, the Company announced that its Board of Directors approved a stock repurchase program for up to 607,754 of the outstanding Common Shares of the Company. Shares may be purchased from time to time in the open market and in large block privately negotiated transactions. The Company is not obligated to purchase any shares under the program, and the program may be discontinued at any time before the maximum number of shares specified by the program are purchased. The Board of Directors established no expiration date for this program. As of December 31, 2013, the Company had purchased 334,965 shares under the program. No shares were purchased under the program during the years ended December 31, 2013 and 2012. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||
Employee Benefit Plans | ' | ||||||||||||
NOTE 9 - Employee Benefit Plans | |||||||||||||
The Company provides a contributory trusteed 401(k) deferred compensation and profit sharing plan, which covers substantially all employees. The Company agrees to match certain employee contributions under the 401(k) portion of the plan, while profit sharing contributions are discretionary and are subject to determination by the Board of Directors. Company contributions were $882, $777, and $717 for 2013, 2012, and 2011, respectively. | |||||||||||||
The Company self-insures employee health benefits. Stop loss insurance covers annual losses exceeding $125 per covered family. Management's policy is to establish a reserve for claims not submitted by a charge to earnings based on prior experience. Charges to earnings were $2,599, $1,799, and $1,620 for 2013, 2012, and 2011, respectively. | |||||||||||||
The Company maintains deferred compensation plans for the benefit of certain directors and officers. Under the plans, the Company agrees in return for the directors and officers deferring the receipt of a portion of their current compensation, to pay a retirement benefit computed as the amount of the compensation deferred plus accrued interest at a variable rate. Accrued benefits payable totaled $1,857 and $2,003 at December 31, 2013 and 2012. Deferred compensation expense was $173, $170, and $183 for 2013, 2012, and 2011, respectively. In conjunction with the plans, the Company purchased life insurance on certain directors and officers. | |||||||||||||
The Company entered into early retirement agreements with certain officers of the Company during 2008, 2009, 2010, and 2013. Accrued benefits payable as a result of the agreements totaled $337 and $298 at December 31, 2013 and 2012, respectively. Expense associated with these agreements totaled $166, $0, and $72 during 2013, 2012, and 2011, respectively. The benefits under the agreements will be paid through 2017. | |||||||||||||
The Company acquired through previous bank mergers a noncontributory defined benefit pension plan with benefits based on years of service and compensation prior to retirement. The benefits under the plan were suspended in 1998. This defined benefit plan was terminated in 2013 with all benefits of the plan distributed to the plan's participants prior to December 31, 2013. The costs to terminate the defined benefit plan totaled $378 in 2013. | |||||||||||||
Accumulated plan benefit information for the Company's plan as of December 31, 2013 and 2012 was as follows: | |||||||||||||
Changes in Benefit Obligation: | 2013 | 2012 | |||||||||||
Obligation at Beginning of Year | $ | 837 | $ | 734 | |||||||||
Interest Cost | 25 | 27 | |||||||||||
Benefits Paid | (33 | ) | (33 | ) | |||||||||
Lump Sum Benefits Paid | (809 | ) | - | ||||||||||
Actuarial (Gain) Loss | (62 | ) | 109 | ||||||||||
Effect of Settlement/Curtailment | 42 | - | |||||||||||
Obligation at End of Year | $ | - | $ | 837 | |||||||||
Changes in Plan Assets: | |||||||||||||
Fair Value at Beginning of Year | 399 | 353 | |||||||||||
Actual Return on Plan Assets | - | 1 | |||||||||||
Employer Contributions | 443 | 78 | |||||||||||
Periodic Benefits Paid | (33 | ) | (33 | ) | |||||||||
Lump Sum Benefits Paid | (809 | ) | - | ||||||||||
Fair Value at End of Year | $ | - | $ | 399 | |||||||||
Funded Status: | |||||||||||||
Funded Status at End of Year | $ | - | $ | (438 | ) | ||||||||
Amounts recognized in accumulated other comprehensive income at December 31 consist of: | |||||||||||||
2013 | 2012 | ||||||||||||
Net Loss (Gain) | $ | - | $ | 360 | |||||||||
Prior Service Cost | - | 13 | |||||||||||
$ | - | $ | 373 | ||||||||||
The accumulated benefit obligation was $0 and $837 at year-end 2013 and 2012, respectively. | |||||||||||||
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Interest Cost | $ | 25 | $ | 27 | $ | 32 | |||||||
Expected Return on Assets | (1 | ) | (1 | ) | (2 | ) | |||||||
Amortization of Prior Service Cost | 1 | 1 | 1 | ||||||||||
Recognition of Net Loss | 46 | 30 | 31 | ||||||||||
Net Periodic Benefit Cost | $ | 71 | $ | 57 | $ | 62 | |||||||
Net Loss (Gain) During the Period | (19 | ) | 110 | 24 | |||||||||
Amortization of Unrecognized Loss | (341 | ) | (30 | ) | (30 | ) | |||||||
Amortization of Prior Service Cost | (13 | ) | (1 | ) | (1 | ) | |||||||
Total Recognized in Other Comprehensive Income (Loss) | (373 | ) | 79 | (7 | ) | ||||||||
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive | $ | (302 | ) | $ | 136 | $ | 55 | ||||||
Income (Loss) | |||||||||||||
The estimated net loss, prior service costs, and net transition obligation (asset) for the defined benefit pension plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year will be $0 as the defined benefit pension plan terminated in the current year. | |||||||||||||
Assumptions | |||||||||||||
Weighted-average assumptions used to determine benefit obligations at year-end: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount Rate | N/A | 3.25 | % | 3.75 | % | ||||||||
Rate of Compensation Increase (1) | N/A | N/A | N/A | ||||||||||
Weighted-average assumptions used to determine net periodic pension cost: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount Rate | 3.25 | % | 3.75 | % | 4.6 | % | |||||||
Expected Return on Plan Assets | 0.25 | % | 0.25 | % | 0.5 | % | |||||||
Rate of Compensation Increase (1) | N/A | N/A | N/A | ||||||||||
-1 | Benefits under the plan were suspended in 1998; therefore, the weighted-average rate of increase in future compensation levels was not applicable for all years presented. | ||||||||||||
The expected return on plan assets was determined based upon rates that are expected to be available for future reinvestment of earnings and maturing investments along with consideration given to the current mix of plan assets. | |||||||||||||
Postretirement Medical and Life Benefit Plan | |||||||||||||
The Company has an unfunded postretirement benefit plan covering substantially all of its employees. The medical plan is contributory with the participants' contributions adjusted annually; the life insurance plans are noncontributory. | |||||||||||||
Changes in Accumulated Postretirement Benefit Obligations: | 2013 | 2012 | |||||||||||
Obligation at the Beginning of Year | $ | 691 | $ | 624 | |||||||||
Unrecognized Loss (Gain) | (33 | ) | 43 | ||||||||||
Components of Net Periodic Postretirement Benefit Cost: | |||||||||||||
Service Cost | 40 | 35 | |||||||||||
Interest Cost | 23 | 24 | |||||||||||
Net Expected Benefit Payments | (50 | ) | (35 | ) | |||||||||
Obligation at End of Year | $ | 671 | $ | 691 | |||||||||
Components of Postretirement Benefit Expense: | 2013 | 2012 | 2011 | ||||||||||
Service Cost | $ | 40 | $ | 35 | $ | 28 | |||||||
Interest Cost | 23 | 24 | 25 | ||||||||||
Amortization of Unrecognized Net (Gain) Loss | 4 | - | - | ||||||||||
Net Postretirement Benefit Expense | 67 | 59 | 53 | ||||||||||
Net Gain (Loss) During Period Recognized in Other Comprehensive Income | (37 | ) | 42 | 57 | |||||||||
Total Recognized in Net Postretirement Benefit Expense and Other Comprehensive Income | $ | 30 | $ | 101 | $ | 110 | |||||||
Assumptions Used to Determine Net Periodic Cost and Benefit Obligations: | 2013 | 2012 | 2011 | ||||||||||
Discount Rate | 4.31 | % | 3.41 | % | 3.98 | % | |||||||
Assumed Health Care Cost Trend Rates at Year-end: | 2013 | 2012 | |||||||||||
Health Care Cost Trend Rate Assumed for Next Year | 8 | % | 8 | % | |||||||||
Rate that the Cost Trend Rate Gradually Declines to | 5 | % | 4.5 | % | |||||||||
Year that the Rate Reaches the Rate it is Assumed to Remain at | 2019 | 2019 | |||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects as of December 31, 2013: | |||||||||||||
One-Percentage-Point | One-Percentage-Point | ||||||||||||
Increase | Decrease | ||||||||||||
Effect on Total of Service and Interest Cost | $ | 6 | $ | (5 | ) | ||||||||
Effect on Postretirement Benefit Obligation | $ | 41 | $ | (37 | ) | ||||||||
Contributions | |||||||||||||
The Company expects to contribute $39 to its postretirement medical and life insurance plan in 2014. | |||||||||||||
Estimated Future Benefits | |||||||||||||
The following postretirement benefit payments, which reflect expected future service, are expected to be paid: | |||||||||||||
2014 | $ | 39 | |||||||||||
2015 | 49 | ||||||||||||
2016 | 49 | ||||||||||||
2017 | 60 | ||||||||||||
2018 | 63 | ||||||||||||
2019-2023 | 383 | ||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
NOTE 10 - Income Taxes | |||||||||||||
The provision for income taxes consists of the following: | 2013 | 2012 | 2011 | ||||||||||
Current Federal | $ | 9,103 | $ | 9,649 | $ | 3,333 | |||||||
Current State | 648 | 568 | 184 | ||||||||||
Deferred Federal | 1,090 | 260 | 4,241 | ||||||||||
Deferred State | 623 | 192 | (32 | ) | |||||||||
Total | $ | 11,464 | $ | 10,669 | $ | 7,726 | |||||||
Income tax expense is reconciled to the 35% statutory rate applied to the pre-tax income for the years presented in the table below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory Rate Times Pre-tax Income | $ | 12,907 | $ | 12,153 | $ | 9,791 | |||||||
Add (Subtract) the Tax Effect of: | |||||||||||||
Income from Tax-exempt Loans and Investments | (1,157 | ) | (1,007 | ) | (780 | ) | |||||||
State Income Tax, Net of Federal Tax Effect | 826 | 494 | 99 | ||||||||||
General Business Tax Credits | (556 | ) | (547 | ) | (370 | ) | |||||||
Company Owned Life Insurance | (338 | ) | (341 | ) | (385 | ) | |||||||
Gain on United Commerce Bancorp Stock | (120 | ) | - | - | |||||||||
Gain on American Community Bancorp, Inc. Stock | - | - | (366 | ) | |||||||||
Other Differences | (98 | ) | (83 | ) | (263 | ) | |||||||
Total Income Taxes | $ | 11,464 | $ | 10,669 | $ | 7,726 | |||||||
The net deferred tax liability at December 31 consists of the following: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Assets: | |||||||||||||
Allowance for Loan Losses | $ | 4,871 | $ | 5,845 | |||||||||
Unrealized Loss on Securities | 2,809 | - | |||||||||||
Deferred Compensation and Employee Benefits | 1,136 | 1,282 | |||||||||||
Other-than-temporary Impairment | 388 | 443 | |||||||||||
Accrued Expenses | 601 | 646 | |||||||||||
Business Combination Fair Value Adjustments | 847 | - | |||||||||||
Pension and Postretirement Plans | 35 | 195 | |||||||||||
Other Real Estate Owned | 288 | 140 | |||||||||||
Non-Accrual Loan Interest Income | 269 | 254 | |||||||||||
Net Operating Loss Carryforward | 224 | - | |||||||||||
Other | 313 | 279 | |||||||||||
Total Deferred Tax Assets | 11,781 | 9,084 | |||||||||||
Deferred Tax Liabilities: | |||||||||||||
Depreciation | (1,465 | ) | (1,419 | ) | |||||||||
Leasing Activities, Net | (7,797 | ) | (7,753 | ) | |||||||||
Unrealized Gain on Securities | - | (5,915 | ) | ||||||||||
FHLB Stock Dividends | (343 | ) | (336 | ) | |||||||||
Prepaid Expenses | (492 | ) | (516 | ) | |||||||||
Intangibles | (804 | ) | (359 | ) | |||||||||
Deferred Loan Fees | (460 | ) | (394 | ) | |||||||||
Business Combination Fair Value Adjustments | - | (333 | ) | ||||||||||
General Business Tax Credits | (23 | ) | (7 | ) | |||||||||
Other | (330 | ) | (255 | ) | |||||||||
Total Deferred Tax Liabilities | (11,714 | ) | (17,287 | ) | |||||||||
Valuation Allowance | - | (45 | ) | ||||||||||
Net Deferred Tax Asset (Liability) | $ | 67 | $ | (8,248 | ) | ||||||||
The Company held a valuation allowance at December 31, 2012 of $45. During 2013, the Company reversed the valuation allowance as the statute of limitations expired on this item. The Company has federal and state net operating loss carryforwards (acquired in the United Commerce Bancorp acquisition - See Note 17 for further discussion) of $609 (federal) and $1,420 (state). These carryforwards expire in 2032 and 2026 for federal and state purposes, respectively. The use of these federal and state carryforwards are each limited under IRC Section 382 to $538 annually. | |||||||||||||
Under the Internal Revenue Code, through 1996 two acquired banking companies, which are now a part of the Company's single banking subsidiary, were allowed a special bad debt deduction related to additions to tax bad debt reserves established for the purpose of absorbing losses. The acquired banks were formerly known as Peoples Community Bank (acquired in October 2005) and First American Bank (acquired in January 1999). Subject to certain limitations, these Banks were permitted to deduct from taxable income an allowance for bad debts based on a percentage of taxable income before such deductions or actual loss experience. The Banks generally computed its annual addition to its bad debt reserves using the percentage of taxable income method; however, due to certain limitations in 1996, the Banks were only allowed a deduction based on actual loss experience. | |||||||||||||
Retained earnings at December 31, 2013, include approximately $2,995 for which no provision for federal income taxes has been made. This amount represents allocations of income for allowable bad debt deductions. Reduction of amounts so allocated for purposes other than tax bad debt losses will create taxable income, which will be subject to the then current corporate income tax rate. It is not contemplated that amounts allocated to bad debt deductions will be used in any manner to create taxable income. The unrecorded deferred income tax liability on the above amount at December 31, 2013 was approximately $1,048. | |||||||||||||
Unrecognized Tax Benefits | |||||||||||||
The Company had no unrecognized tax benefits as of December 31, 2013, 2012, and 2011, and did not recognize any increase in unrecognized benefits during 2013 relative to any tax positions taken in 2013. Should the accrual of any interest or penalties relative to unrecognized tax benefits be necessary, it is the Company's policy to record such accruals in its income tax expense accounts; no such accruals existed as of December 31, 2013, 2012, and 2011. The Company and its corporate subsidiaries file a consolidated U.S. Federal income tax return, which is subject to examination for all years after 2009. The Company and its corporate subsidiaries doing business in Indiana file a combined Indiana unitary return, which is subject to examination for all years after 2009. |
Per_Share_Data
Per Share Data | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Per Share Data [Abstract] | ' | ||||||||||||
Per Share Data | ' | ||||||||||||
NOTE 11 - Per Share Data | |||||||||||||
The computation of Basic Earnings per Share and Diluted Earnings per Share are provided below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic Earnings per Share: | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Weighted Average Shares Outstanding | 12,786,065 | 12,622,049 | 12,581,646 | ||||||||||
Basic Earnings per Share | $ | 1.99 | $ | 1.91 | $ | 1.61 | |||||||
Diluted Earnings per Share: | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Weighted Average Shares Outstanding | 12,786,065 | 12,622,049 | 12,581,646 | ||||||||||
Stock Options, Net | 21,613 | 15,694 | 6,102 | ||||||||||
Diluted Weighted Average Shares Outstanding | 12,807,678 | 12,637,743 | 12,587,748 | ||||||||||
Diluted Earnings per Share | $ | 1.98 | $ | 1.9 | $ | 1.61 | |||||||
Stock options for 89,276 shares of common stock were not considered in computing diluted earnings per common share for 2011 because they were anti-dilutive. There were no anti-dilutive shares at December 31, 2013 and 2012. | |||||||||||||
Lease_Commitments
Lease Commitments | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Lease Commitments [Abstract] | ' | ||||
Lease Commitments | ' | ||||
NOTE 12 - Lease Commitments | |||||
The total rental expense for all operating leases for the years ended December 31, 2013, 2012, and 2011 was $558, $486, and $413, respectively, including amounts paid under short-term cancelable leases. | |||||
The following is a schedule of future minimum lease payments for premises and equipment at year end 2013: | |||||
2014 | $ | 608 | |||
2015 | 511 | ||||
2016 | 446 | ||||
2017 | 259 | ||||
2018 | 154 | ||||
Thereafter | 1,508 | ||||
Total | $ | 3,486 | |||
Commitments_and_Offbalance_She
Commitments and Off-balance Sheet Items | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments and Off-balance Sheet Items [Abstract] | ' | ||||||||||||||||
Commitments and Off-balance Sheet Items | ' | ||||||||||||||||
NOTE 13 - Commitments and Off-balance Sheet Items | |||||||||||||||||
In the normal course of business, there are various commitments and contingent liabilities, such as commitments to extend credit and commitments to sell loans, which are not reflected in the accompanying consolidated financial statements. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policy to make commitments as it uses for on-balance sheet items. | |||||||||||||||||
The Company's exposure to credit risk for commitments to sell loans is dependent upon the ability of the counter-party to purchase the loans. This is generally assured by the use of government sponsored entity counterparts. These commitments are subject to market risk resulting from fluctuations in interest rates. Commitments to sell loans are not mandatory (i.e., do not require net settlement with the counter-party to cancel the commitment). | |||||||||||||||||
Commitments and contingent liabilities are summarized as follows, at December 31: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitments to Fund Loans: | |||||||||||||||||
Consumer Lines | $ | 8,940 | $ | 145,064 | $ | 6,013 | $ | 137,668 | |||||||||
Commercial Operating Lines | 23,717 | 199,231 | 13,444 | 187,829 | |||||||||||||
Residential Mortgages | 11,249 | 930 | 33,004 | 676 | |||||||||||||
Total Commitments to Fund Loans | $ | 43,906 | $ | 345,225 | $ | 52,461 | $ | 326,173 | |||||||||
Commitments to Sell Loans | $ | 20,672 | $- | $ | 52,511 | $- | |||||||||||
Standby Letters of Credit | $ | 1,515 | $ | 5,262 | $ | 1,408 | $ | 4,279 | |||||||||
The fixed rate commitments to fund loans have interest rates ranging from 2.15% to 18.00% and maturities ranging from less than 1 year to 32 years. Since many commitments to make loans expire without being used, these amounts do not necessarily represent future cash commitments. Collateral obtained upon exercise of the commitment is determined using management's credit evaluation of the borrower, and may include accounts receivable, inventory, property, land, and other items. | |||||||||||||||||
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||||||||||
Fair Value | ' | ||||||||||||||||||||||||
NOTE 14 - Fair Value | |||||||||||||||||||||||||
Fair value is the exchange price that would be received for 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 on the measurement date. There are three levels of inputs that may be used to measure fair values: | |||||||||||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of 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. | |||||||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||||||||
The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: | |||||||||||||||||||||||||
Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Level 3 pricing is obtained from a third-party based upon similar trades that are not traded frequently without adjustment by the Company. At December 31, 2013, the Company held $11.2 million in Level 3 securities which consist of $10.8 million of non-rated Obligations of State and Political Subdivisions and $353 thousand of equity securities that are not actively traded. Absent the credit rating, significant assumptions must be made such that the credit risk input becomes an unobservable input and thus these securities are reported by the Company in a Level 3 classification. | |||||||||||||||||||||||||
Derivatives: The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). | |||||||||||||||||||||||||
Impaired Loans: Fair values for impaired collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value in the cost to replace the current property. Value of market comparison approach evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investors required return. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Comparable sales adjustments are based on known sales prices of similar type and similar use properties and duration of time that the property has been on the market to sell. Such adjustments made in the appraisal process are typically significant and result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||||||
Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company's Risk Management Area reviews the assumptions and approaches utilized in the appraisal. In determining the value of impaired collateral dependent loans and other real estate owned, significant unobservable inputs may be used which include: physical condition of comparable properties sold, net operating income generated by the property and investor rates of return. | |||||||||||||||||||||||||
Other Real Estate: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate (ORE) are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property utilizing similar techniques as discussed above for Impaired Loans, resulting in a Level 3 classification. In cases where the carrying amount exceeds the fair value, less costs to sell, impairment loss is recognized. | |||||||||||||||||||||||||
Loans Held-for-Sale: The fair values of loans held for sale are determined by using quoted prices for similar assets, adjusted for specific attributes of that loan resulting in a Level 2 classification. | |||||||||||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | - | $ | 18,952 | $ | - | $ | 18,952 | |||||||||||||||||
Corporate Securities | - | - | - | - | |||||||||||||||||||||
Obligations of State and Political Subdivisions | - | 102,665 | 10,832 | 113,497 | |||||||||||||||||||||
Mortgage-backed Securities-Residential | - | 473,230 | - | 473,230 | |||||||||||||||||||||
Equity Securities | - | - | 353 | 353 | |||||||||||||||||||||
Total Securities | $ | - | $ | 594,847 | $ | 11,185 | $ | 606,032 | |||||||||||||||||
Loans Held-for-Sale | $ | - | $ | 9,265 | $ | - | $ | 9,265 | |||||||||||||||||
Derivative Assets | $ | - | $ | 866 | $ | - | $ | 866 | |||||||||||||||||
Derivative Liabilities | $ | - | $ | 737 | $ | - | $ | 737 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | - | $ | 23,472 | $ | - | $ | 23,472 | |||||||||||||||||
Corporate Securities | - | - | - | - | |||||||||||||||||||||
Obligations of State and Political Subdivisions | - | 64,316 | 12,169 | 76,485 | |||||||||||||||||||||
Mortgage-backed Securities-Residential | - | 486,912 | - | 486,912 | |||||||||||||||||||||
Equity Securities | 380 | - | 353 | 733 | |||||||||||||||||||||
Total Securities | $ | 380 | $ | 574,700 | $ | 12,522 | $ | 587,602 | |||||||||||||||||
Loans Held-for-Sale | $ | - | $ | 16,641 | $ | - | $ | 16,641 | |||||||||||||||||
Derivative Assets | $ | - | $ | 187 | $ | - | $ | 187 | |||||||||||||||||
Derivative Liabilities | $ | - | $ | 178 | $ | - | $ | 178 | |||||||||||||||||
There were no transfers between Level 1 and Level 2 for the periods ended December 31, 2013 and 2012. | |||||||||||||||||||||||||
At December 31, 2013, the aggregate fair value of the Loans Held-for-Sale was $9,265, aggregate contractual principal balance was $9,129 with a difference of $136. At December 31, 2012, the aggregate fair value of the Loans Held-for-Sale was $16,641, aggregate contractual principle balance was $16,413 with a difference of $228. | |||||||||||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Obligations of State | |||||||||||||||||||||||||
and Political | |||||||||||||||||||||||||
Subdivisions | Equity Securities | Corporate Securities | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Beginning Balance of Recurring Level 3 Assets at January 1 | $ | 12,169 | $ | 4,075 | $ | 353 | $ | 353 | $ | - | $ | 1,005 | |||||||||||||
Total Gains or Losses (realized/unrealized) Included in earnings | (332 | ) | 156 | - | - | - | - | ||||||||||||||||||
Maturities / Calls | (1,005 | ) | - | - | - | - | (1,005 | ) | |||||||||||||||||
Purchases | - | 7,938 | - | - | - | - | |||||||||||||||||||
Ending Balance of Recurring Level 3 Assets at December 31 | $ | 10,832 | $ | 12,169 | $ | 353 | $ | 353 | $ | - | $ | - | |||||||||||||
Of the total gain/loss included in earnings for the year ended December 31, 2013, $0 was attributable to interest income on securities and ($332) was attributable to other changes in fair value. Of the total gain/loss included in earnings for the year ended December 31, 2012, $1 was attributable to interest income on securities and $155 was attributable to other changes in fair value. | |||||||||||||||||||||||||
Assets and Liabilities Measured on a Non-Recurring Basis | |||||||||||||||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Impaired Loans with Specific Allocations | |||||||||||||||||||||||||
Commercial and Industrial Loans | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Commercial Real Estate Loans | - | - | 1,346 | 1,346 | |||||||||||||||||||||
Agricultural Loans | - | - | - | - | |||||||||||||||||||||
Other Real Estate | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 20 | 20 | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Impaired Loans with Specific Allocations | |||||||||||||||||||||||||
Commercial and Industrial Loans | $ | - | $ | - | $ | 1,231 | $ | 1,231 | |||||||||||||||||
Commercial Real Estate Loans | - | - | 1,497 | 1,497 | |||||||||||||||||||||
Agricultural Loans | - | - | 135 | 135 | |||||||||||||||||||||
Other Real Estate | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 150 | 150 | |||||||||||||||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $4,449 with a valuation allowance of $3,103, resulting in an additional provision for loan losses of $1,024 for the year ended December 31, 2013. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $8,274 with a valuation allowance of $5,411, resulting in an additional provision for loan losses of $2,230 for the year ended December 31, 2012. | |||||||||||||||||||||||||
Other Real Estate which is measured at the lower of carrying or fair value less costs to sell had a carrying value of $20 at December 31, 2013. A charge to earnings through Other Operating Income of $321 was included in the year ended December 31, 2013. Other Real Estate which is measured at the lower of carrying or fair value less costs to sell had a carrying value of $150 at December 31, 2012. A charge to earnings through Other Operating Income of $100 was included in the year ended December 31, 2012. | |||||||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013 and 2012: | |||||||||||||||||||||||||
Range | |||||||||||||||||||||||||
Valuation | (Weighted | ||||||||||||||||||||||||
31-Dec-13 | Fair Value | Technique(s) | Unobservable Input(s) | Average) | |||||||||||||||||||||
Impaired Loans - Commercial Real Estate Loans | $ | 1,346 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 12%-80% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -53% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Other Real Estate - Commercial Real Estate Loans | $ | 20 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 50% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -50% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Range | |||||||||||||||||||||||||
Valuation | (Weighted | ||||||||||||||||||||||||
31-Dec-12 | Fair Value | Technique(s) | Unobservable Input(s) | Average) | |||||||||||||||||||||
Impaired Loans - Commercial and Industrial Loans | $ | 1,231 | Sales comparison approach | Adjustment for differences between the comparable sales | 4%-68% | ||||||||||||||||||||
-8% | |||||||||||||||||||||||||
Impaired Loans - Commercial Real Estate Loans | $ | 1,497 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 15%-78% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -48% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Impaired Loans - Agricultural Loans | $ | 135 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 76% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -76% | |||||||||||||||||||||||
Other Real Estate - Commercial Real Estate Loans | $ | 150 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 70% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -70% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
The carrying amounts and estimated fair values of the Company's financial instruments not previously presented are provided in the table below for the periods ending December 31, 2013 and 2012. Not all of the Company's assets and liabilities are considered financial instruments, and therefore are not included in the table. Because no active market exists for a significant portion of the Company's financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision. | |||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||
December 31, 2013 Using | |||||||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and Short-term Investments | $ | 60,232 | $ | 37,370 | $ | 22,862 | $ | - | $ | 60,232 | |||||||||||||||
Securities Held-to-Maturity | 268 | - | 271 | - | 271 | ||||||||||||||||||||
FHLB Stock and Other Restricted Stock | 9,004 | N/A | N/A | N/A | N/A | ||||||||||||||||||||
Loans, Net | 1,366,452 | - | - | 1,370,339 | 1,370,339 | ||||||||||||||||||||
Accrued Interest Receivable | 7,470 | - | 1,918 | 5,552 | 7,470 | ||||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (1,463,122 | ) | (1,463,122 | ) | - | - | (1,463,122 | ) | |||||||||||||||||
Time Deposits | (349,034 | ) | - | (351,707 | ) | - | (351,707 | ) | |||||||||||||||||
Short-term Borrowings | (53,533 | ) | - | (53,533 | ) | - | (53,533 | ) | |||||||||||||||||
Long-term Debt | (87,237 | ) | - | (83,329 | ) | (5,311 | ) | (88,640 | ) | ||||||||||||||||
Accrued Interest Payable | (777 | ) | - | (732 | ) | (45 | ) | (777 | ) | ||||||||||||||||
Unrecognized Financial Instruments: | |||||||||||||||||||||||||
Commitments to Extend Credit | - | - | - | - | - | ||||||||||||||||||||
Standby Letters of Credit | - | - | - | - | - | ||||||||||||||||||||
Commitments to Sell Loans | - | - | - | - | - | ||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||
December 31, 2012 Using | |||||||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and Short-term Investments | $ | 51,794 | $ | 41,624 | $ | 10,170 | $ | - | $ | 51,794 | |||||||||||||||
Securities Held-to-Maturity | 346 | - | 351 | - | 351 | ||||||||||||||||||||
FHLB Stock and Other Restricted Stock | 8,340 | N/A | N/A | N/A | N/A | ||||||||||||||||||||
Loans, Net | 1,186,483 | - | - | 1,199,566 | 1,199,566 | ||||||||||||||||||||
Accrued Interest Receivable | 7,419 | - | 1,893 | 5,526 | 7,419 | ||||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (1,311,748 | ) | (1,311,748 | ) | - | - | (1,311,748 | ) | |||||||||||||||||
Time Deposits | (329,183 | ) | - | (333,170 | ) | - | (333,170 | ) | |||||||||||||||||
Short-term Borrowings | (71,534 | ) | - | (71,534 | ) | - | (71,534 | ) | |||||||||||||||||
Long-term Debt | (89,472 | ) | - | (66,892 | ) | (28,872 | ) | (95,764 | ) | ||||||||||||||||
Accrued Interest Payable | (1,275 | ) | - | (829 | ) | (446 | ) | (1,275 | ) | ||||||||||||||||
Unrecognized Financial Instruments: | |||||||||||||||||||||||||
Commitments to Extend Credit | - | - | - | - | - | ||||||||||||||||||||
Standby Letters of Credit | - | - | - | - | - | ||||||||||||||||||||
Commitments to Sell Loans | - | - | - | - | - | ||||||||||||||||||||
Cash and Short-Term Investments: | |||||||||||||||||||||||||
The carrying amount of cash and short-term investments approximate fair values and are classified as Level 1 or Level 2. | |||||||||||||||||||||||||
Securities Held-to-Maturity: | |||||||||||||||||||||||||
The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). | |||||||||||||||||||||||||
FHLB Stock and Other Restricted Stock: | |||||||||||||||||||||||||
It is not practical to determine the fair values of FHLB stock and other restricted stock due to restrictions placed on their transferability. | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Fair values of loans, excluding loans held for sale and collateral dependent impaired loans having a specific allowance allocation, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued as described previously. The methods utilized to estimate fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||||||
Accrued Interest Receivable: | |||||||||||||||||||||||||
The carrying amount of accrued interest approximates fair value resulting in a Level 2 or Level 3 classification consistent with the asset they are associated with. | |||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. Fair values for fixed rate time deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||||||||||
Short-term Borrowings: | |||||||||||||||||||||||||
The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. | |||||||||||||||||||||||||
Long-Term Debt: | |||||||||||||||||||||||||
The fair values of the Company's long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | |||||||||||||||||||||||||
The fair values of the Company's subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||||||||||
Accrued Interest Payable: | |||||||||||||||||||||||||
The carrying amount of accrued interest approximates fair value resulting in a Level 2 or Level 3 classification consistent with the liability they are associated with. | |||||||||||||||||||||||||
Off-balance Sheet Instruments: | |||||||||||||||||||||||||
Commitments to extend credit and standby letters of credit are generally short-term or variable rate with minimal fees charged. These instruments have no carrying value, and the fair value is not material. The fair value of commitments to sell loans is the cost or benefit of settling the commitments with the counter-party at the reporting date. At December 31, 2013 and 2012, none of the Company's commitments to sell loans were mandatory, and there is no cost or benefit to settle these commitments. | |||||||||||||||||||||||||
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||
NOTE 15 - Segment Information | |||||||||||||||||||||
The Company's operations include three primary segments: core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company's local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The trust and investment advisory services segment involves providing trust, investment advisory, and brokerage services to customers. The insurance segment offers a full range of personal and corporate property and casualty insurance products, primarily in the Company's banking subsidiary's local markets. | |||||||||||||||||||||
The core banking segment is comprised by the Company's banking subsidiary, German American Bancorp, which operated through 36 banking offices at December 31, 2013. Net interest income from loans and investments funded by deposits and borrowings is the primary revenue for the core-banking segment. The trust and investment advisory services segment's revenues are comprised primarily of fees generated by German American Financial Advisors & Trust Company. These fees are derived by providing trust, investment advisory, and brokerage services to its customers. The insurance segment primarily consists of German American Insurance, Inc., which provides a full line of personal and corporate insurance products. Commissions derived from the sale of insurance products are the primary source of revenue for the insurance segment. | |||||||||||||||||||||
The following segment financial information has been derived from the internal financial statements of German American Bancorp, Inc., which are used by management to monitor and manage the financial performance of the Company. The accounting policies of the three segments are the same as those of the Company. The evaluation process for segments does not include holding company income and expense. Holding company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the column labeled "Other" below, along with amounts to eliminate transactions between segments. | |||||||||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Net Interest Income | $ | 69,634 | $ | 21 | $ | 17 | $ | (1,155 | ) | $ | 68,517 | ||||||||||
Net Gains on Sales of Loans | 2,645 | - | - | - | 2,645 | ||||||||||||||||
Net Gains on Securities | 2,065 | - | - | 364 | 2,429 | ||||||||||||||||
Trust and Investment Product Fees | 6 | 3,355 | - | (3 | ) | 3,358 | |||||||||||||||
Insurance Revenues | 39 | 31 | 6,147 | - | 6,217 | ||||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 350 | - | - | - | 350 | ||||||||||||||||
Depreciation and Amortization | 3,944 | 28 | 339 | 150 | 4,461 | ||||||||||||||||
Income Tax Expense (Benefit) | 12,387 | (32 | ) | 320 | (1,211 | ) | 11,464 | ||||||||||||||
Segment Profit (Loss) | 25,389 | (70 | ) | 425 | (331 | ) | 25,413 | ||||||||||||||
Segment Assets at December 31, 2013 | 2,171,837 | 11,663 | 5,636 | (25,309 | ) | 2,163,827 | |||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Net Interest Income | $ | 68,311 | $ | 21 | $ | 34 | $ | (2,118 | ) | $ | 66,248 | ||||||||||
Net Gains on Sales of Loans | 3,234 | - | - | - | 3,234 | ||||||||||||||||
Net Gains on Securities | 1,667 | - | - | - | 1,667 | ||||||||||||||||
Trust and Investment Product Fees | 5 | 2,657 | - | (5 | ) | 2,657 | |||||||||||||||
Insurance Revenues | 23 | 36 | 5,465 | - | 5,524 | ||||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 2,412 | - | - | - | 2,412 | ||||||||||||||||
Depreciation and Amortization | 4,099 | 24 | 415 | 150 | 4,688 | ||||||||||||||||
Income Tax Expense (Benefit) | 11,999 | (187 | ) | 181 | (1,324 | ) | 10,669 | ||||||||||||||
Segment Profit (Loss) | 25,118 | (298 | ) | 250 | (1,015 | ) | 24,055 | ||||||||||||||
Segment Assets at December 31, 2012 | 2,006,992 | 11,551 | 8,333 | (20,576 | ) | 2,006,300 | |||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Net Interest Income | $ | 66,099 | $ | 16 | $ | 22 | $ | (2,156 | ) | $ | 63,981 | ||||||||||
Net Gains on Sales of Loans | 2,381 | - | - | - | 2,381 | ||||||||||||||||
Net Gains on Securities | 2,089 | - | - | 935 | 3,024 | ||||||||||||||||
Trust and Investment Product Fees | 3 | 2,147 | - | (5 | ) | 2,145 | |||||||||||||||
Insurance Revenues | 67 | 13 | 5,755 | (16 | ) | 5,819 | |||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 6,800 | - | - | - | 6,800 | ||||||||||||||||
Depreciation and Amortization | 4,481 | 26 | 482 | 150 | 5,139 | ||||||||||||||||
Income Tax Expense (Benefit) | 9,171 | (353 | ) | 272 | (1,364 | ) | 7,726 | ||||||||||||||
Segment Profit (Loss) | 20,855 | (545 | ) | 352 | (413 | ) | 20,249 | ||||||||||||||
Segment Assets at December 31, 2011 | 1,875,417 | 11,801 | 7,948 | (21,399 | ) | 1,873,767 | |||||||||||||||
Parent_Company_Financial_State
Parent Company Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Parent Company Financial Statements [Abstract] | ' | ||||||||||||
Parent Company Financial Statements | ' | ||||||||||||
NOTE 16 - Parent Company Financial Statements | |||||||||||||
The condensed financial statements of German American Bancorp, Inc. are presented below: | |||||||||||||
CONDENSED BALANCE SHEETS | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash | $ | 9,721 | $ | 29,499 | |||||||||
Securities Available-for-Sale, at Fair Value | 353 | 733 | |||||||||||
Investment in Subsidiary Bank | 195,480 | 184,093 | |||||||||||
Investment in Non-banking Subsidiaries | 3,650 | 4,064 | |||||||||||
Other Assets | 6,271 | 6,245 | |||||||||||
Total Assets | $ | 215,475 | $ | 224,634 | |||||||||
LIABILITIES | |||||||||||||
Borrowings | $ | 12,024 | $ | 35,624 | |||||||||
Other Liabilities | 3,354 | 3,984 | |||||||||||
Total Liabilities | 15,378 | 39,608 | |||||||||||
SHAREHOLDERS' EQUITY | |||||||||||||
Common Stock | 13,174 | 12,637 | |||||||||||
Additional Paid-in Capital | 108,022 | 95,617 | |||||||||||
Retained Earnings | 84,164 | 66,421 | |||||||||||
Accumulated Other Comprehensive Income (Loss) | (5,263 | ) | 10,351 | ||||||||||
Total Shareholders' Equity | 200,097 | 185,026 | |||||||||||
Total Liabilities and Shareholders' Equity | $ | 215,475 | $ | 224,634 | |||||||||
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
INCOME | |||||||||||||
Dividends from Subsidiaries | |||||||||||||
Bank | $ | 14,000 | $ | 17,500 | $ | 22,500 | |||||||
Non-bank | 1,500 | - | 1,350 | ||||||||||
Interest Income | 31 | 50 | 38 | ||||||||||
Net Gain on Securities | 343 | - | 935 | ||||||||||
Other Income | 75 | 70 | 71 | ||||||||||
Total Income | 15,949 | 17,620 | 24,894 | ||||||||||
EXPENSES | |||||||||||||
Salaries and Employee Benefits | 824 | 458 | 444 | ||||||||||
Professional Fees | 485 | 352 | 379 | ||||||||||
Occupancy and Equipment Expense | 7 | 7 | 8 | ||||||||||
Interest Expense | 1,246 | 2,221 | 2,239 | ||||||||||
Other Expenses | 615 | 359 | 357 | ||||||||||
Total Expenses | 3,177 | 3,397 | 3,427 | ||||||||||
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 12,772 | 14,223 | 21,467 | ||||||||||
Income Tax Benefit | 1,235 | 1,338 | 1,364 | ||||||||||
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 14,007 | 15,561 | 22,831 | ||||||||||
Equity in Undistributed (Excess Distributed) Income of Subsidiaries | 11,406 | 8,494 | (2,582 | ) | |||||||||
NET INCOME | 25,413 | 24,055 | 20,249 | ||||||||||
Other Comprehensive Income: | |||||||||||||
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale | (15,874 | ) | (124 | ) | 5,677 | ||||||||
Changes in Unrecognized Amounts in Pension, Net | 231 | (47 | ) | 4 | |||||||||
Changes in Unrecognized Loss on Postretirement Benefit Obligation, Net | 29 | (21 | ) | (38 | ) | ||||||||
TOTAL COMPREHENSIVE INCOME | $ | 9,799 | $ | 23,863 | $ | 25,892 | |||||||
CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Adjustments to Reconcile Net Income to Net Cash from Operations | |||||||||||||
Loss (Gain) on Securities, Net | (343 | ) | - | (935 | ) | ||||||||
Change in Other Assets | 283 | 33 | 3,656 | ||||||||||
Change in Other Liabilities | (510 | ) | 203 | (2,191 | ) | ||||||||
Equity Based Compensation | 329 | 628 | 635 | ||||||||||
Excess Tax Benefit from Restricted Share Grant | (28 | ) | (23 | ) | (37 | ) | |||||||
Equity in Excess Distributed (Undistributed) Income of Subsidiaries | (11,406 | ) | (8,494 | ) | 2,582 | ||||||||
Net Cash from Operating Activities | 13,738 | 16,402 | 23,959 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||
Capital Contribution to Subsidiaries | - | (150 | ) | - | |||||||||
Acquire Banking Entities | (2,135 | ) | - | (1,995 | ) | ||||||||
Net Cash from Investing Activities | (2,135 | ) | (150 | ) | (1,995 | ) | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||
Proceeds from Issuance of Long-term Debt | 10,000 | - | - | ||||||||||
Repayment of Long-term Debt | (33,750 | ) | (1,500 | ) | (1,500 | ) | |||||||
Issuance of Common Stock | 20 | 37 | 12 | ||||||||||
Income Tax Benefit from Restricted Share Grant | 28 | 23 | 37 | ||||||||||
Employee Stock Purchase Plan | (9 | ) | (67 | ) | (25 | ) | |||||||
Dividends Paid | (7,670 | ) | (7,068 | ) | (7,047 | ) | |||||||
Net Cash from Financing Activities | (31,381 | ) | (8,575 | ) | (8,523 | ) | |||||||
Net Change in Cash and Cash Equivalents | (19,778 | ) | 7,677 | 13,441 | |||||||||
Cash and Cash Equivalents at Beginning of Year | 29,499 | 21,822 | 8,381 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 9,721 | $ | 29,499 | $ | 21,822 | |||||||
Business_Combinations_Goodwill
Business Combinations, Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations, Goodwill and Intangible Assets [Abstract] | ' | ||||||||||||
Business Combinations, Goodwill and Intangible Assets | ' | ||||||||||||
NOTE 17 - Business Combinations, Goodwill and Intangible Assets | |||||||||||||
Business Combinations | |||||||||||||
Effective October 1, 2013, the Company acquired United Commerce Bancorp and its subsidiary, United Commerce Bank. The acquisition was accomplished by the merger of United Commerce Bancorp into the German American Bancorp, Inc., immediately followed by the merger of United Commerce Bank into German American Bancorp, Inc.'s bank subsidiary (German American Bancorp). The United Commerce Bank operated two banking offices in Bloomington, Indiana. United Commerce's consolidated assets and equity (unaudited) as of October 1, 2013 totaled $119.7 million and $13.7 million, respectively. The Company accounted for the transaction under the acquisition method of accounting which means that the acquired assets and liabilities were recorded at fair value at the date of acquisition. See Note 4 for additional information related to the fair value of loans acquired. The Company determined the fair value of core deposit intangibles, securities and deposits with the assistance of third party valuations. The estimated fair values over loans are subject to refinement as additional information relative to the closing date fair values becomes available through the measurement period. | |||||||||||||
In accordance with ASC 805, the Company has expensed approximately $251 of direct acquisition costs and recorded $1.7 million of goodwill and $2.1 million of intangible assets. The intangible assets are related to core deposits and are being amortized on an accelerated basis over 8 years. For tax purposes, goodwill totaling $1.7 million is non-deductible. The following table summarizes the fair value of the total consideration transferred as a part of the United Commerce acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction. | |||||||||||||
1-Oct-13 | |||||||||||||
Consideration | |||||||||||||
Cash for Options and Fractional Shares | $ | 643 | |||||||||||
Cash Consideration | 1,391 | ||||||||||||
Equity Instruments | 13,348 | ||||||||||||
Fair Value of Total Consideration Transferred | $ | 15,382 | |||||||||||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | |||||||||||||
Cash and Due From Banks | $ | 430 | |||||||||||
Federal Funds Sold, Other Short-term Investments | 7,362 | ||||||||||||
Interest-bearing Time Deposits with Banks | 100 | ||||||||||||
Securities | 25,644 | ||||||||||||
Loans | 79,575 | ||||||||||||
Premises, Furniture & Equipment | 1,718 | ||||||||||||
Core Deposit Intangible | 2,052 | ||||||||||||
Accrued Interest Receivable & Other Assets | 3,638 | ||||||||||||
Deposits | (106,633 | ) | |||||||||||
Accrued Interest Payable and Other Liabilities | (175 | ) | |||||||||||
Total Identifiable Net Assets | $ | 13,711 | |||||||||||
Goodwill | $ | 1,671 | |||||||||||
Under the terms of the merger agreement, the Company issued approximately 503,000 shares of its common stock to the former shareholders of United Commerce. Each United Commerce common shareholder of record at the effective time of the merger became entitled to receive 0.5456 shares of common stock of the Company for each of their former shares of United Commerce common stock. | |||||||||||||
The Company at the effective time of the merger owned 44,100 shares of United Commerce's outstanding common stock (approximately 4.6% of United Commerce's common shares then outstanding). All of these shares were cancelled at the effective time of the merger and were not exchanged for shares of the Company in the merger. | |||||||||||||
In connection with the closing of the merger, the Company paid to United Commerce's shareholders of record at the close of business on September 30, 2013, cash consideration of $1.51 per United Commerce share (an aggregate of $1,391 to shareholders other than the Company) and the Company paid approximately $643 to persons who held options to purchase United Commerce common stock (all of which rights were cancelled at the effective time of the merger and were not assumed by the Company). | |||||||||||||
This acquisition was consistent with the Company's strategy to build a regional presence in Southern Indiana. The acquisition offers the Company the opportunity to increase profitability by introducing existing products and services to the acquired customer base as well as add new customers in the expanded region. | |||||||||||||
Goodwill | |||||||||||||
The changes in the carrying amount of goodwill for the periods ended December 31, 2013, 2012, and 2011 were classified as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning of Year | $ | 18,865 | $ | 18,865 | $ | 9,835 | |||||||
Acquired Goodwill | 1,671 | - | 9,030 | ||||||||||
Impairment | - | - | - | ||||||||||
End of Year | $ | 20,536 | $ | 18,865 | $ | 18,865 | |||||||
Of the $20,536 carrying amount of goodwill, $19,204 is allocated to the core banking segment and $1,332 is allocated to the insurance segment for the period ended December 31, 2013. Of the $18,865 carrying amount of goodwill, $17,533 is allocated to the core banking segment and $1,332 is allocated to the insurance segment for the periods ended December 31, 2012 and 2011. | |||||||||||||
Impairment exists when a reporting unit's carrying value of goodwill exceeds its fair value. At December 31, 2013, the Company's reporting units had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting units exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value. | |||||||||||||
Acquired Intangible Assets | |||||||||||||
Acquired intangible assets were as follows as of year end: | 2013 | ||||||||||||
Gross | Accumulated | ||||||||||||
Amount | Amortization | ||||||||||||
Core Banking | |||||||||||||
Core Deposit Intangible | $ | 9,004 | $ | 5,815 | |||||||||
Unidentified Branch Acquisition Intangible | 257 | 257 | |||||||||||
Insurance | |||||||||||||
Customer List | 5,199 | 5,060 | |||||||||||
Total | $ | 14,460 | $ | 11,132 | |||||||||
Acquired intangible assets were as follows as of year end: | 2012 | ||||||||||||
Gross | Accumulated | ||||||||||||
Amount | Amortization | ||||||||||||
Core Banking | |||||||||||||
Core Deposit Intangible | $ | 6,952 | $ | 4,665 | |||||||||
Unidentified Branch Acquisition Intangible | 257 | 257 | |||||||||||
Insurance | |||||||||||||
Customer List | 5,199 | 4,794 | |||||||||||
Total | $ | 12,408 | $ | 9,716 | |||||||||
Amortization Expense was $1,416, $1,655, and $1,956, for 2013, 2012, and 2011. | |||||||||||||
Estimated amortization expense for each of the next five years is as follows: | |||||||||||||
2014 | 1,254 | ||||||||||||
2015 | 790 | ||||||||||||
2016 | 493 | ||||||||||||
2017 | 323 | ||||||||||||
2018 | 235 | ||||||||||||
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||
Other Comprehensive Income (Loss) | ' | ||||||||||||||||
NOTE 18 - Other Comprehensive Income (Loss) | |||||||||||||||||
The table below summarizes the changes in accumulated other comprehensive income (loss) by component for the year ending December 31, 2013, net of tax: | |||||||||||||||||
Unrealized | |||||||||||||||||
Gains and | Defined | ||||||||||||||||
Losses on | Benefit | ||||||||||||||||
Available-for- | Pension | Postretirement | |||||||||||||||
Sale Securities | Items | Benefit Items | Total | ||||||||||||||
Beginning Balance | $ | 10,643 | $ | (231 | ) | $ | (61 | ) | $ | 10,351 | |||||||
Other Comprehensive Income (Loss) Before | |||||||||||||||||
Reclassification | (14,295 | ) | 453 | 51 | (13,791 | ) | |||||||||||
Amounts Reclassified from Accumulated | |||||||||||||||||
Other Comprehensive Income | (1,579 | ) | (222 | ) | (22 | ) | (1,823 | ) | |||||||||
Net Current Period Other | |||||||||||||||||
Comprehensive Income (Loss) | (15,874 | ) | 231 | 29 | (15,614 | ) | |||||||||||
Ending Balance | $ | (5,231 | ) | $ | - | $ | (32 | ) | $ | (5,263 | ) | ||||||
The table below summarizes the classifications out of accumulated other comprehensive income (loss) by component for the year ending December 31, 2013: | |||||||||||||||||
Amount Reclassified From | |||||||||||||||||
Details about Accumulated Other | Accumulated Other | Affected Line Item in the Statement | |||||||||||||||
Comprehensive Income (Loss) Components | Comprehensive Income (Loss) | Where Net Income is Presented | |||||||||||||||
Unrealized Gains and Losses on | |||||||||||||||||
Available-for-Sale Securities | $ | (2,429 | ) | Net (Gain) Loss on Securities | |||||||||||||
850 | Income Tax Expense | ||||||||||||||||
(1,579 | ) | Net of Tax | |||||||||||||||
Amortization of Defined Benefit Pension Items | |||||||||||||||||
Prior Service Costs | $ | (13 | ) | Salaries and Employee Benefits | |||||||||||||
Actuarial Gains (Losses) | (360 | ) | Salaries and Employee Benefits | ||||||||||||||
151 | Income Tax Expense | ||||||||||||||||
(222 | ) | Net of Tax | |||||||||||||||
Amortization of Post Retirement Plan Items | |||||||||||||||||
Actuarial Gains (Losses) | $ | (37 | ) | Salaries and Employee Benefits | |||||||||||||
15 | Income Tax Expense | ||||||||||||||||
(22 | ) | Net of Tax | |||||||||||||||
Total Reclassifications for the Period | $ | (1,823 | ) | ||||||||||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data (Unaudited) [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||||||
NOTE 19 - Quarterly Financial Data (Unaudited) | |||||||||||||||||||||
The following table represents selected quarterly financial data for the Company: | |||||||||||||||||||||
Interest | Net Interest | Net | Earnings per Share | ||||||||||||||||||
Income | Income | Income | Basic | Diluted | |||||||||||||||||
2013 | |||||||||||||||||||||
First Quarter | $ | 18,370 | $ | 16,225 | $ | 5,809 | $ | 0.46 | $ | 0.46 | |||||||||||
Second Quarter | 18,458 | 16,712 | 6,532 | 0.52 | 0.52 | ||||||||||||||||
Third Quarter | 18,812 | 17,192 | 6,483 | 0.51 | 0.51 | ||||||||||||||||
Fourth Quarter | 20,032 | 18,388 | 6,589 | 0.5 | 0.5 | ||||||||||||||||
2012 | |||||||||||||||||||||
First Quarter | $ | 19,727 | $ | 16,612 | $ | 5,602 | $ | 0.44 | $ | 0.44 | |||||||||||
Second Quarter | 19,563 | 16,649 | 5,967 | 0.47 | 0.47 | ||||||||||||||||
Third Quarter | 18,953 | 16,393 | 6,292 | 0.5 | 0.5 | ||||||||||||||||
Fourth Quarter | 18,917 | 16,594 | 6,194 | 0.49 | 0.49 | ||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Description of Business and Basis of Presentation | ' |
Description of Business and Basis of Presentation | |
German American Bancorp, Inc. operations are primarily comprised of three business segments: core banking, trust and investment advisory services, and insurance operations. The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries conform to U.S. generally accepted accounting principles. The more significant policies are described below. The consolidated financial statements include the accounts of the Company and its subsidiaries after elimination of all material intercompany accounts and transactions. Certain prior year amounts have been reclassified to conform with current classifications. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. Estimates susceptible to change in the near term include the allowance for loan losses, fair value of financial instruments, other-than-temporary impairment of securities, the valuation allowance on deferred tax assets, and loss contingencies. | |
Securities | ' |
Securities | |
Securities classified as available-for-sale are securities that the Company intends to hold for an indefinite period of time, but not necessarily until maturity. These include securities that management may use as part of its asset/liability strategy, or that may be sold in response to changes in interest rates, changes in prepayment risk, or similar reasons. Equity securities with readily determinable fair values are classified as available-for-sale. Equity securities that do not have readily determinable fair values are carried at historical cost and evaluated for impairment on a periodic basis. Securities classified as available-for-sale are reported at fair value with unrealized gains or losses included as a separate component of equity, net of tax. Securities classified as held-to-maturity are securities that the Company has both the ability and positive intent to hold to maturity. Securities held-to-maturity are carried at amortized cost. | |
Premium amortization is deducted from, and discount accretion is added to, interest income using the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on trade date and are computed on the identified securities method. | |
Management evaluates securities for other-than-temporary impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | |
Loans Held for Sale | ' |
Loans Held for Sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at fair value. Fair value is determined based on collateral value and prevailing market prices for loans with similar characteristics. Net unrealized gains or losses are recorded through earnings. | |
Mortgage loans held for sale are generally sold on a servicing released basis. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | |
Loans | ' |
Loans | |
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on unpaid principal balance and includes amortization of net deferred loan fees and costs over the loan term without anticipating prepayments. | |
All classes of loans are generally placed on non-accrual status when scheduled principal or interest payments are past due for 90 days or more or when the borrower's ability to repay becomes doubtful. Uncollected accrued interest for each class of loans is reversed against income at the time a loan is placed on non-accrual. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. All classes of loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans are typically charged-off at 180 days past due, or earlier if deemed uncollectible. Exceptions to the non-accrual and charge-off policies are made when the loan is well secured and in the process of collection. | |
Certain Purchased Loans | ' |
Certain Purchased Loans | |
The Company purchases individual loans and groups of loans. Purchased loans that show evidence of credit deterioration since origination are recorded at the amount paid (or allocated fair value in a purchase business combination), such that there is no carryover of the seller's allowance for loan losses. After acquisition, incurred losses are recognized by an increase in the allowance for loan losses. | |
Such purchased loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan's or pool's contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). | |
Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses | |
The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other 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. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired or loans otherwise classified as substandard or special mention. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. For 2012 and 2011, the Company utilized a 4 quarter rolling historical loan loss average. Beginning in 2013, management deemed a rolling 12 quarter historical loan loss average to be more indicative of the inherent losses in the Company's loan portfolio in the current economic environment than the 4 quarter average. As the Company continues to monitor the current portfolio, the methodology could change in the future. | |
Loan impairment is reported when full repayment under the terms of the loan is not expected. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated future cash flows using the loan's existing rate, or at the fair value of collateral if repayment is expected solely from the collateral. Commercial and industrial loans, commercial real estate loans, and agricultural loans are evaluated individually for impairment. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include real estate loans secured by one-to-four family residences and loans to individuals for household, family and other personal expenditures. Individually evaluated loans on non-accrual are generally considered impaired. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |
Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan's effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. | |
The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and risk classifications and is based on the actual loss history experienced by the Company over the most recent twelve quarters. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial Loans and Retail Loans. Commercial Loans have been classified according to the following risk characteristics: Commercial and Industrial Loans and Leases, Commercial Real Estate, and Agricultural Loans. Commercial and Industrial loans are primarily based on the cash flows of the business operations and secured by assets being financed and other assets such as accounts receivable and inventory. Commercial Real Estate Loans and Agricultural Loans are primarily based on cash flow of the borrower and their business and further secured by real estate. All types of commercial and agricultural (real estate secured and non-real estate) may also come with personal guarantees of the borrowers and business owners. Retail Loans have been classified according to the following risk characteristics: Home Equity Loans, Consumer Loans and Residential Mortgage Loans. Retail loans are generally dependent on personal income of the customer, and repayment is dependent on borrower's personal cash flow and employment status which can be affected by general economic conditions. Additionally, collateral values may fluctuate based on the impact of economic conditions on residential real estate values and other consumer type assets such as automobiles. | |
Loans or portions of loans shall be charged off when there is a distinct probability of loss identified. A distinct probability of loss exists when it has been determined that any remaining sources of repayment are insufficient to cover all outstanding principal. The probable loss is immediately calculated based on the value of the remaining sources of repayment and charged to the allowance for loan loss. | |
Federal Home Loan Bank (FHLB) Stock | ' |
Federal Home Loan Bank (FHLB) Stock | |
The Bank is a member of the FHLB of Indianapolis. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |
Premises, Furniture and Equipment | ' |
Premises, Furniture and Equipment | |
Land is carried at cost. Premises, furniture, and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging generally from 10 to 40 years. Furniture, fixtures, and equipment are depreciated using the straight-line method with useful lives ranging generally from 3 to 10 years. | |
Other Real Estate | ' |
Other Real Estate | |
Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. | |
Goodwill and Other Intangible Assets | ' |
Goodwill and Other Intangible Assets | |
Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on the Company's balance sheet. | |
Other intangible assets consist of core deposit and acquired customer relationship intangible assets. They are initially measured at fair value and then are amortized over their estimated useful lives, which range from 6 to 10 years. | |
Company Owned Life Insurance | ' |
Company Owned Life Insurance | |
The Company has purchased life insurance policies on certain directors and executives. This life insurance is recorded at its cash surrender value or the amount that can be realized, which considers any adjustments or changes that are probable at settlement. | |
Loss Contingencies | ' |
Loss Contingencies | |
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe currently that there are any such matters that will have a material impact on the financial statements. | |
Loan Commitments and Related Financial Instruments | ' |
Loan Commitments and Related Financial Instruments | |
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |
Restrictions on Cash | ' |
Restrictions on Cash | |
At December 31, 2013 and 2012, respectively, the Company was required to have $7,431 and $10,752 on deposit with the Federal Reserve, or as cash on hand. | |
Long-term Assets | ' |
Long-term Assets | |
Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |
Stock Based Compensation | ' |
Stock Based Compensation | |
Compensation cost is recognized for stock options and restricted stock awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation's common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. | |
Comprehensive Income | ' |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale and changes in unrecognized amounts in pension and other postretirement benefits, which are also recognized as a separate component of equity. | |
Income Taxes | ' |
Income Taxes | |
Deferred tax liabilities and assets are determined at each balance sheet date and are the result of differences in the financial statement and tax bases of assets and liabilities. Income tax expense is the amount due on the current year tax returns plus or minus the change in deferred taxes. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |
A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. | |
Retirement Plans | ' |
Retirement Plans | |
Pension expense under the suspended defined benefit plan is the net of interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) and profit sharing plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. | |
Earnings Per Share | ' |
Earnings Per Share | |
Earnings per share are based on net income divided by the weighted average number of shares outstanding during the period. Diluted earnings per share show the potential dilutive effect of additional common shares issuable under the Company's stock based compensation plans. Earnings per share are retroactively restated for stock dividends. | |
Cash Flow Reporting | ' |
Cash Flow Reporting | |
The Company reports net cash flows for customer loan transactions, deposit transactions, deposits made with other financial institutions and short-term borrowings. Cash and cash equivalents are defined to include cash on hand, demand deposits in other institutions and Federal Funds Sold. | |
Fair Values of Financial Instruments | ' |
Fair Values of Financial Instruments | |
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
In February 2013, the FASB issued an update (ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income) impacting FASB ASC 220, Comprehensive Income. This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income. An entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about these amounts. This update became effective for the Company for interim and annual periods beginning after December 15, 2012 and did not have a material impact on the consolidated financial statements. | |
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Securities Available-for-Sale | ' | ||||||||||||||||||||||||
The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale were as follows: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Securities Available-for-Sale: | Cost | Gains | Losses | Value | |||||||||||||||||||||
2013 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 20,000 | $ | - | $ | (1,048 | ) | $ | 18,952 | ||||||||||||||||
Obligations of State and Political Subdivisions | 112,008 | 2,388 | (899 | ) | 113,497 | ||||||||||||||||||||
Mortgage-backed Securities - Residential | 481,724 | 3,497 | (11,991 | ) | 473,230 | ||||||||||||||||||||
Equity Securities | 353 | - | - | 353 | |||||||||||||||||||||
Total | $ | 614,085 | $ | 5,885 | $ | (13,938 | ) | $ | 606,032 | ||||||||||||||||
2012 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 23,570 | $ | 40 | $ | (138 | ) | $ | 23,472 | ||||||||||||||||
Obligations of State and Political Subdivisions | 71,352 | 5,145 | (12 | ) | 76,485 | ||||||||||||||||||||
Mortgage-backed Securities - Residential | 475,452 | 11,505 | (45 | ) | 486,912 | ||||||||||||||||||||
Equity Securities | 684 | 49 | - | 733 | |||||||||||||||||||||
Total | $ | 571,058 | $ | 16,739 | $ | (195 | ) | $ | 587,602 | ||||||||||||||||
Schedule of Securities Held-to-Maturity | ' | ||||||||||||||||||||||||
The carrying amount, unrecognized gains and losses and fair value of Securities Held-to-Maturity were as follows: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Carrying | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Securities Held-to-Maturity: | Amount | Gains | Losses | Value | |||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 268 | $ | 3 | $ | - | $ | 271 | |||||||||||||||||
2012 | |||||||||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 346 | $ | 5 | $ | - | $ | 351 | |||||||||||||||||
Schedule of Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Securities Available-for-Sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 2,935 | $ | 2,996 | |||||||||||||||||||||
Due after one year through five years | 9,890 | 10,038 | |||||||||||||||||||||||
Due after five years through ten years | 69,906 | 69,802 | |||||||||||||||||||||||
Due after ten years | 49,277 | 49,613 | |||||||||||||||||||||||
Mortgage-backed Securities - Residential | 481,724 | 473,230 | |||||||||||||||||||||||
Equity Securities | 353 | 353 | |||||||||||||||||||||||
Total | $ | 614,085 | $ | 606,032 | |||||||||||||||||||||
Carrying | Fair | ||||||||||||||||||||||||
Amount | Value | ||||||||||||||||||||||||
Securities Held-to-Maturity: | |||||||||||||||||||||||||
Due in one year or less | $ | - | $ | - | |||||||||||||||||||||
Due after one year through five years | 268 | 271 | |||||||||||||||||||||||
Due after five years through ten years | - | - | |||||||||||||||||||||||
Due after ten years | - | - | |||||||||||||||||||||||
Total | $ | 268 | $ | 271 | |||||||||||||||||||||
Schedule of Proceeds from the Sales of Securities | ' | ||||||||||||||||||||||||
Proceeds from the Sales of Securities are summarized below: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Available- | Available- | Available- | |||||||||||||||||||||||
for-Sale | for-Sale | for-Sale | |||||||||||||||||||||||
Proceeds from Sales | $ | 162,344 | $ | 92,344 | $ | 20,061 | |||||||||||||||||||
Gross Gains on Sales | 2,086 | 1,667 | 2,089 | ||||||||||||||||||||||
Income Taxes on Gross Gains | 730 | 583 | 721 | ||||||||||||||||||||||
Schedule of Securities with Unrealized Losses | ' | ||||||||||||||||||||||||
Below is a summary of securities with unrealized losses as of year-end 2013 and 2012, presented by length of time the securities have been in a continuous unrealized loss position: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 18,952 | $ | (1,048 | ) | $ | - | $ | - | $ | 18,952 | $ | (1,048 | ) | |||||||||||
Obligations of State and Political Subdivisions | 38,878 | (899 | ) | - | - | 38,878 | (899 | ) | |||||||||||||||||
Mortgage-backed Securities - Residential | 346,028 | (11,903 | ) | 1,735 | (88 | ) | 347,763 | (11,991 | ) | ||||||||||||||||
Equity Securities | - | - | - | - | - | - | |||||||||||||||||||
Total | $ | 403,858 | $ | (13,850 | ) | $ | 1,735 | $ | (88 | ) | $ | 405,593 | $ | (13,938 | ) | ||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | 19,862 | $ | (138 | ) | $ | - | $ | - | $ | 19,862 | $ | (138 | ) | |||||||||||
Obligations of State and Political Subdivisions | 1,042 | (12 | ) | - | - | 1,042 | (12 | ) | |||||||||||||||||
Mortgage-backed Securities - Residential | 18,323 | (45 | ) | - | - | 18,323 | (45 | ) | |||||||||||||||||
Equity Securities | - | - | - | - | - | - | |||||||||||||||||||
Total | $ | 39,227 | $ | (195 | ) | $ | - | $ | - | $ | 39,227 | $ | (195 | ) |
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivatives [Abstract] | ' | ||||||||||||||||
Schedule of Hedging Activities | ' | ||||||||||||||||
The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of December 31: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Included in Other Assets: | |||||||||||||||||
Interest Rate Swaps | $ | 17,853 | $ | 866 | $ | 6,051 | $ | 187 | |||||||||
Included in Other Liabilities: | |||||||||||||||||
Interest Rate Swaps | $ | 17,853 | $ | 737 | $ | 6,051 | $ | 178 | |||||||||
Schedule of Effect of Derivative Instruments | ' | ||||||||||||||||
The following tables present the effect of derivative instruments on the Consolidated Statement of Income for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Interest Rate Swaps: | |||||||||||||||||
Included in Interest Income / (Expense) | $ | - | $ | - | $ | - | |||||||||||
Included in Other Income / (Expense) | 528 | 163 | - | ||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | ||||||||||||||||||||||||||||||||
Components of Loans | ' | ||||||||||||||||||||||||||||||||
Loans were comprised of the following classifications at December 31: | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 350,955 | $ | 335,373 | |||||||||||||||||||||||||||||
Commercial Real Estate Loans | 582,066 | 488,496 | |||||||||||||||||||||||||||||||
Agricultural Loans | 192,880 | 179,906 | |||||||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||||
Home Equity Loans | 81,504 | 74,437 | |||||||||||||||||||||||||||||||
Consumer Loans | 49,124 | 41,103 | |||||||||||||||||||||||||||||||
Residential Mortgage Loans | 128,683 | 88,586 | |||||||||||||||||||||||||||||||
Subtotal | 1,385,212 | 1,207,901 | |||||||||||||||||||||||||||||||
Less: Unearned Income | (2,830 | ) | (3,035 | ) | |||||||||||||||||||||||||||||
Allowance for Loan Losses | (14,584 | ) | (15,520 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 1,367,798 | $ | 1,189,346 | |||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||
The following tables present the activity in the allowance for loan losses by portfolio class for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | $ | 15,520 | |||||||||||||||||
Provision for Loan Losses | (197 | ) | (160 | ) | (43 | ) | 419 | 112 | 111 | 108 | 350 | ||||||||||||||||||||||
Recoveries | 128 | 102 | - | - | 148 | 8 | - | 386 | |||||||||||||||||||||||||
Loans Charged-off | (503 | ) | (538 | ) | - | (321 | ) | (286 | ) | (24 | ) | - | (1,672 | ) | |||||||||||||||||||
Ending Balance | $ | 3,983 | $ | 8,335 | $ | 946 | $ | 239 | $ | 188 | $ | 281 | $ | 612 | $ | 14,584 | |||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,493 | $ | 9,297 | $ | 926 | $ | 258 | $ | 190 | $ | 402 | $ | 746 | $ | 15,312 | |||||||||||||||||
Provision for Loan Losses | 1,150 | 1,326 | 63 | (32 | ) | 194 | (47 | ) | (242 | ) | 2,412 | ||||||||||||||||||||||
Recoveries | 74 | 97 | - | 2 | 123 | 30 | - | 326 | |||||||||||||||||||||||||
Loans Charged-off | (162 | ) | (1,789 | ) | - | (87 | ) | (293 | ) | (199 | ) | - | (2,530 | ) | |||||||||||||||||||
Ending Balance | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | $ | 15,520 | |||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | Total | ||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 3,713 | $ | 7,497 | $ | 750 | $ | 220 | $ | 362 | $ | 543 | $ | 232 | $ | 13,317 | |||||||||||||||||
Provision for Loan Losses | 1,195 | 4,265 | 176 | 287 | 23 | 340 | 514 | 6,800 | |||||||||||||||||||||||||
Recoveries | 98 | 139 | - | 6 | 125 | 16 | - | 384 | |||||||||||||||||||||||||
Loans Charged-off | (1,513 | ) | (2,604 | ) | - | (255 | ) | (320 | ) | (497 | ) | - | (5,189 | ) | |||||||||||||||||||
Ending Balance | $ | 3,493 | $ | 9,297 | $ | 926 | $ | 258 | $ | 190 | $ | 402 | $ | 746 | $ | 15,312 | |||||||||||||||||
Schedule of Allowance for Loan Losses and Recorded Investment in Loans | ' | ||||||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
31-Dec-13 | Total | Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | |||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 3,095 | $ | 45 | $ | 3,050 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Collectively Evaluated for Impairment | 11,481 | 3,938 | 5,277 | 946 | 239 | 188 | 281 | 612 | |||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 8 | - | 8 | - | - | - | - | - | |||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 14,584 | $ | 3,983 | $ | 8,335 | $ | 946 | $ | 239 | $ | 188 | $ | 281 | $ | 612 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 8,458 | $ | 2,114 | $ | 6,344 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 1,367,591 | 347,808 | 566,389 | 195,171 | 81,812 | 49,131 | 127,280 | - | |||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 14,753 | 1,981 | 10,871 | - | - | 134 | 1,767 | - | |||||||||||||||||||||||||
Total Ending Loans Balance (1) | $ | 1,390,802 | $ | 351,903 | $ | 583,604 | $ | 195,171 | $ | 81,812 | $ | 49,265 | $ | 129,047 | $ | - | |||||||||||||||||
(1) Total recorded investment in loans includes $5,590 in accrued interest. | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
31-Dec-12 | Total | Leases | Loans | Loans | Loans | Loans | Loans | Unallocated | |||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 5,323 | $ | 1,279 | $ | 3,894 | $ | 150 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Collectively Evaluated for Impairment | 10,109 | 3,208 | 5,017 | 839 | 141 | 214 | 186 | 504 | |||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 88 | 68 | 20 | - | - | - | - | - | |||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 15,520 | $ | 4,555 | $ | 8,931 | $ | 989 | $ | 141 | $ | 214 | $ | 186 | $ | 504 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 12,520 | $ | 2,547 | $ | 7,550 | $ | 2,423 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 1,189,729 | 331,920 | 473,209 | 180,152 | 74,699 | 41,083 | 88,666 | - | |||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 11,174 | 1,840 | 9,037 | - | - | 148 | 149 | - | |||||||||||||||||||||||||
Total Ending Loans Balance (1) | $ | 1,213,423 | $ | 336,307 | $ | 489,796 | $ | 182,575 | $ | 74,699 | $ | 41,231 | $ | 88,815 | $ | - | |||||||||||||||||
(1) Total recorded investment in loans includes $5,522 in accrued interest. | |||||||||||||||||||||||||||||||||
Schedule of Loans Individually Evaluated for Impairment | ' | ||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Unpaid | Allowance for | ||||||||||||||||||||||||||||||||
Principal | Recorded | Loan Losses | |||||||||||||||||||||||||||||||
Balance(1) | Investment | Allocated | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,163 | $ | 2,072 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,710 | 2,383 | - | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 6,873 | 4,455 | - | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 45 | 45 | 45 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,428 | 4,417 | 3,058 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 4,473 | 4,462 | 3,103 | ||||||||||||||||||||||||||||||
Total | $ | 11,346 | $ | 8,917 | $ | 3,103 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 987 | $ | 451 | $ | - | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 33 | $ | 8 | $ | 8 | |||||||||||||||||||||||||||
(1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. | |||||||||||||||||||||||||||||||||
Unpaid | Allowance for | ||||||||||||||||||||||||||||||||
Principal | Recorded | Loan Losses | |||||||||||||||||||||||||||||||
Balance(1) | Investment | Allocated | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 108 | $ | 87 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,312 | 2,154 | - | ||||||||||||||||||||||||||||||
Agricultural Loans | 2,126 | 2,137 | - | ||||||||||||||||||||||||||||||
Subtotal | 6,546 | 4,378 | - | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2,642 | 2,581 | 1,347 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 5,579 | 5,418 | 3,914 | ||||||||||||||||||||||||||||||
Agricultural Loans | 285 | 286 | 150 | ||||||||||||||||||||||||||||||
Subtotal | 8,506 | 8,285 | 5,411 | ||||||||||||||||||||||||||||||
Total | $ | 15,052 | $ | 12,663 | $ | 5,411 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 45 | $ | 25 | $ | - | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 155 | $ | 118 | $ | 88 | |||||||||||||||||||||||||||
(1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. | |||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 1,192 | $ | 65 | $ | 65 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 2,251 | 5 | 7 | ||||||||||||||||||||||||||||||
Agricultural Loans | 1,420 | 209 | 225 | ||||||||||||||||||||||||||||||
Subtotal | 4,863 | 279 | 297 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1,360 | 3 | 3 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 5,424 | 22 | 18 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 6,784 | 25 | 21 | ||||||||||||||||||||||||||||||
Total | $ | 11,647 | $ | 304 | $ | 318 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 30 | $ | 3 | $ | 3 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 142 | $ | 2 | $ | 2 | |||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 252 | $ | 3 | $ | 3 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,506 | 18 | 18 | ||||||||||||||||||||||||||||||
Agricultural Loans | 535 | 2 | 2 | ||||||||||||||||||||||||||||||
Subtotal | 5,293 | 23 | 23 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2,726 | 9 | 8 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,660 | 23 | 19 | ||||||||||||||||||||||||||||||
Agricultural Loans | 74 | - | - | ||||||||||||||||||||||||||||||
Subtotal | 9,460 | 32 | 27 | ||||||||||||||||||||||||||||||
Total | $ | 14,753 | $ | 55 | $ | 50 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 26 | $ | 2 | $ | 2 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 154 | $ | 6 | $ | 4 | |||||||||||||||||||||||||||
Average | Interest | Cash | |||||||||||||||||||||||||||||||
Recorded | Income | Basis | |||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | |||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 1,107 | $ | 9 | $ | 9 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,438 | 75 | 75 | ||||||||||||||||||||||||||||||
Agricultural Loans | 19 | 6 | 6 | ||||||||||||||||||||||||||||||
Subtotal | 5,564 | 90 | 90 | ||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 3,642 | 11 | 11 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 9,390 | 37 | 34 | ||||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | ||||||||||||||||||||||||||||||
Subtotal | 13,032 | 48 | 45 | ||||||||||||||||||||||||||||||
Total | $ | 18,596 | $ | 138 | $ | 135 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 28 | $ | 4 | $ | 4 | |||||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 77 | $ | 1 | $ | 1 | |||||||||||||||||||||||||||
Schedule of Recorded Investment in Nonaccrual Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Loans Past Due | |||||||||||||||||||||||||||||||||
90 Days or More | |||||||||||||||||||||||||||||||||
Non-Accrual | & Still Accruing | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 31 | $ | 2,480 | $ | - | $ | - | |||||||||||||||||||||||||
Commercial Real Estate Loans | 6,658 | 7,275 | 8 | - | |||||||||||||||||||||||||||||
Agricultural Loans | - | - | - | - | |||||||||||||||||||||||||||||
Home Equity Loans | 114 | 178 | - | - | |||||||||||||||||||||||||||||
Consumer Loans | 236 | 167 | - | - | |||||||||||||||||||||||||||||
Residential Mortgage Loans | 1,339 | 257 | - | - | |||||||||||||||||||||||||||||
Total | $ | 8,378 | $ | 10,357 | $ | 8 | $ | - | |||||||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 1,705 | $ | 148 | $ | - | $ | - | |||||||||||||||||||||||||
Schedule of Aging of Recorded Investment in Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | or More | Total | Loans Not | |||||||||||||||||||||||||||||
Total | Past Due | Past Due | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 351,903 | $ | 256 | $ | 78 | $ | - | $ | 334 | $ | 351,569 | |||||||||||||||||||||
Commercial Real Estate Loans | 583,604 | 613 | 62 | 2,234 | 2,909 | 580,695 | |||||||||||||||||||||||||||
Agricultural Loans | 195,171 | 62 | - | - | 62 | 195,109 | |||||||||||||||||||||||||||
Home Equity Loans | 81,812 | 303 | 33 | 114 | 450 | 81,362 | |||||||||||||||||||||||||||
Consumer Loans | 49,265 | 149 | 66 | 102 | 317 | 48,948 | |||||||||||||||||||||||||||
Residential Mortgage Loans | 129,047 | 2,206 | 192 | 1,115 | 3,513 | 125,534 | |||||||||||||||||||||||||||
Total (1) | $ | 1,390,802 | $ | 3,589 | $ | 431 | $ | 3,565 | $ | 7,585 | $ | 1,383,217 | |||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 14,753 | $ | 148 | $ | - | $ | 1,103 | $ | 1,251 | $ | 13,502 | |||||||||||||||||||||
(1) Total recorded investment in loans includes $5,590 in accrued interest. | |||||||||||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | or More | Total | Loans Not | |||||||||||||||||||||||||||||
Total | Past Due | Past Due | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 336,307 | $ | 436 | $ | 133 | $ | 448 | $ | 1,017 | $ | 335,290 | |||||||||||||||||||||
Commercial Real Estate Loans | 489,796 | 1,352 | - | 2,063 | 3,415 | 486,381 | |||||||||||||||||||||||||||
Agricultural Loans | 182,575 | 42 | 14 | - | 56 | 182,519 | |||||||||||||||||||||||||||
Home Equity Loans | 74,699 | 177 | 48 | 178 | 403 | 74,296 | |||||||||||||||||||||||||||
Consumer Loans | 41,231 | 431 | 23 | 18 | 472 | 40,759 | |||||||||||||||||||||||||||
Residential Mortgage Loans | 88,815 | 2,070 | 495 | 257 | 2,822 | 85,993 | |||||||||||||||||||||||||||
Total (1) | $ | 1,213,423 | $ | 4,508 | $ | 713 | $ | 2,964 | $ | 8,185 | $ | 1,205,238 | |||||||||||||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 11,174 | $ | - | $ | 120 | $ | - | $ | 120 | $ | 11,054 | |||||||||||||||||||||
(1) Total recorded investment in loans includes $5,522 in accrued interest. | |||||||||||||||||||||||||||||||||
Schedule of Recorded Investment of Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||
The following table presents the recorded investment of troubled debt restructurings by class of loans as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Total | Performing | Non-Accrual(1) | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,092 | $ | 2,086 | $ | 6 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 4,325 | 364 | 3,961 | ||||||||||||||||||||||||||||||
Total | $ | 6,417 | $ | 2,450 | $ | 3,967 | |||||||||||||||||||||||||||
Total | Performing | Non-Accrual(1) | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 2,461 | $ | 66 | $ | 2,395 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,031 | 304 | 5,727 | ||||||||||||||||||||||||||||||
Total | $ | 8,492 | $ | 370 | $ | 8,122 | |||||||||||||||||||||||||||
(1) The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on previous page. | |||||||||||||||||||||||||||||||||
Schedule of Loans Modified as Troubled Debt Restructuring | ' | ||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the year ending December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-13 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 224 | $ | 230 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | 1 | 81 | 118 | ||||||||||||||||||||||||||||||
Total | 2 | $ | 305 | $ | 348 | ||||||||||||||||||||||||||||
The troubled debt restructurings described above decreased the allowance for loan losses by $210 and resulted in charge-offs of $0 during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-12 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 2 | $ | 9 | $ | 9 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | - | ||||||||||||||||||||||||||||||
Total | 2 | $ | 9 | $ | 9 | ||||||||||||||||||||||||||||
The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
31-Dec-11 | Loans | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 4 | $ | 4,541 | $ | 4,499 | ||||||||||||||||||||||||||||
Commercial Real Estate Loans | 6 | 7,099 | 6,850 | ||||||||||||||||||||||||||||||
Total | 10 | $ | 11,640 | $ | 11,349 | ||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructuring, Subsequently Defaulted | ' | ||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the years ending December 31, 2013, 2012 and 2011: | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | - | $ | - | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | |||||||||||||||||||||||||||||||
Total | - | $ | - | ||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above resulted in no change to the allowance for loan losses and no charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 565 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | 3 | 1,377 | |||||||||||||||||||||||||||||||
Total | 4 | $ | 1,942 | ||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above increased the allowance for loan losses by $12 and resulted in charge-offs of $306 during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted: | Number of Loans | Recorded Investment | |||||||||||||||||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 527 | ||||||||||||||||||||||||||||||
Commercial Real Estate Loans | - | - | |||||||||||||||||||||||||||||||
Total | 1 | $ | 527 | ||||||||||||||||||||||||||||||
Schedule of Risk Category of Loans | ' | ||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||||||
Special | |||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 324,685 | $ | 15,485 | $ | 11,733 | $ | - | $ | 351,903 | |||||||||||||||||||||||
Commercial Real Estate Loans | 539,533 | 20,168 | 23,903 | - | 583,604 | ||||||||||||||||||||||||||||
Agricultural Loans | 192,609 | 2,357 | 205 | - | 195,171 | ||||||||||||||||||||||||||||
Total | $ | 1,056,827 | $ | 38,010 | $ | 35,841 | $ | - | $ | 1,130,678 | |||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality (Included in the Total Above) | $ | 3,121 | $ | 661 | $ | 9,070 | $ | - | $ | 12,852 | |||||||||||||||||||||||
Special | |||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 307,997 | $ | 14,441 | $ | 13,869 | $ | - | $ | 336,307 | |||||||||||||||||||||||
Commercial Real Estate Loans | 446,639 | 21,338 | 21,819 | - | 489,796 | ||||||||||||||||||||||||||||
Agricultural Loans | 176,730 | 2,855 | 2,990 | - | 182,575 | ||||||||||||||||||||||||||||
Total | $ | 931,366 | $ | 38,634 | $ | 38,678 | $ | - | $ | 1,008,678 | |||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality (Included in the Total Above) | $ | 319 | $ | 3,220 | $ | 7,338 | $ | - | $ | 10,877 | |||||||||||||||||||||||
Schedule of Recorded Investment in Home Equity, Consumer and Residential Mortgage Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the recorded investment in home equity, consumer and residential mortgage loans based on payment activity as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Home Equity | Consumer | Residential | |||||||||||||||||||||||||||||||
Loans | Loans | Mortgage Loans | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Performing | $ | 81,698 | $ | 49,029 | $ | 127,708 | |||||||||||||||||||||||||||
Nonperforming | 114 | 236 | 1,339 | ||||||||||||||||||||||||||||||
Total | $ | 81,812 | $ | 49,265 | $ | 129,047 | |||||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality (Included in the Total Above) | $ | - | $ | 134 | $ | 1,767 | |||||||||||||||||||||||||||
Home Equity | Consumer | Residential | |||||||||||||||||||||||||||||||
Loans | Loans | Mortgage Loans | |||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||
Performing | $ | 74,521 | $ | 41,064 | $ | 88,558 | |||||||||||||||||||||||||||
Nonperforming | 178 | 167 | 257 | ||||||||||||||||||||||||||||||
Total | $ | 74,699 | $ | 41,231 | $ | 88,815 | |||||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality (Included in the Total Above) | $ | - | $ | 148 | $ | 149 | |||||||||||||||||||||||||||
Schedule of Financing Receivables Acquired | ' | ||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Industrial | Commercial | Home | Residential | ||||||||||||||||||||||||||||||
Loans and | Real Estate | Agricultural | Equity | Consumer | Mortgage | ||||||||||||||||||||||||||||
Leases | Loans | Loans | Loans | Loans | Loans | Total | |||||||||||||||||||||||||||
Purchases | $ | 6,399 | $ | 47,021 | $ | 769 | $ | 4,536 | $ | 1,666 | $ | 19,184 | $ | 79,575 | |||||||||||||||||||
Schedule of Carrying Amount of Loans with Deterioration of Credit Quality | ' | ||||||||||||||||||||||||||||||||
The recorded investment of those loans at December 31, is as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Commercial and Industrial Loans | $ | 1,981 | $ | 1,840 | $ | 2,596 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 10,871 | 9,037 | 13,209 | ||||||||||||||||||||||||||||||
Home Equity Loans | - | - | - | ||||||||||||||||||||||||||||||
Consumer Loans | 134 | 148 | 164 | ||||||||||||||||||||||||||||||
Residential Mortgage Loans | 1,767 | 149 | 152 | ||||||||||||||||||||||||||||||
Total | $ | 14,753 | $ | 11,174 | $ | 16,121 | |||||||||||||||||||||||||||
Carrying Amount, Net of Allowance | $ | 14,745 | $ | 11,086 | $ | 16,044 | |||||||||||||||||||||||||||
Schedule of Accretable Yield, or Income Expected to be Collected | ' | ||||||||||||||||||||||||||||||||
Accretable yield, or income expected to be collected, is as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Balance at January 1 | $ | 170 | $ | 967 | $ | - | |||||||||||||||||||||||||||
New Loans Purchased | 2,885 | - | 2,042 | ||||||||||||||||||||||||||||||
Accretion of Income | (265 | ) | (1,265 | ) | (1,130 | ) | |||||||||||||||||||||||||||
Reclassifications from Non-accretable Difference | - | 468 | 129 | ||||||||||||||||||||||||||||||
Charge-off of Accretable Yield | - | - | (74 | ) | |||||||||||||||||||||||||||||
Balance at December 31 | $ | 2,790 | $ | 170 | $ | 967 | |||||||||||||||||||||||||||
Schedule of Contractually Required Payments Receivable of Purchased Loans with Deterioration of Credit Quality | ' | ||||||||||||||||||||||||||||||||
Contractually required payments receivable of loans purchased during the years ended December 31: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Commercial and Industrial Loans | $ | 401 | $ | - | $ | 4,542 | |||||||||||||||||||||||||||
Commercial Real Estate Loans | 6,640 | - | 19,260 | ||||||||||||||||||||||||||||||
Home Equity Loans | - | - | 28 | ||||||||||||||||||||||||||||||
Consumer Loans | - | - | 217 | ||||||||||||||||||||||||||||||
Residential Mortgage Loans | 3,684 | - | 458 | ||||||||||||||||||||||||||||||
Total | $ | 10,725 | $ | - | $ | 24,505 | |||||||||||||||||||||||||||
Cash Flows Expected to be Collected at Acquisition | $ | 7,642 | $ | - | $ | 19,695 | |||||||||||||||||||||||||||
Fair Value of Acquired Loans at Acquisition | 6,252 | - | 17,653 | ||||||||||||||||||||||||||||||
Schedule of Loans to Shareholders Activity | ' | ||||||||||||||||||||||||||||||||
A summary of the activity of these loans follows: | |||||||||||||||||||||||||||||||||
Balance | Changes | Balance | |||||||||||||||||||||||||||||||
January 1, | in Persons | Deductions | December 31, | ||||||||||||||||||||||||||||||
2013 | Additions | Included | Collected | Charged-off | 2013 | ||||||||||||||||||||||||||||
$ | 9,002 | $ | 5,426 | $ | 1,290 | $ | (5,387 | ) | $ | - | $ | 10,331 | |||||||||||||||||||||
Premises_Furniture_and_Equipme1
Premises, Furniture, and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Premises, Furniture, and Equipment [Abstract] | ' | ||||||||
Schedule of Premises, Furniture and Equipment | ' | ||||||||
Premises, furniture, and equipment was comprised of the following classifications at December 31: | |||||||||
2013 | 2012 | ||||||||
Land | $ | 8,366 | $ | 7,948 | |||||
Buildings and Improvements | 47,677 | 43,706 | |||||||
Furniture and Equipment | 21,544 | 19,584 | |||||||
Total Premises, Furniture and Equipment | 77,587 | 71,238 | |||||||
Less: Accumulated Depreciation | (37,157 | ) | (34,684 | ) | |||||
Total | $ | 40,430 | $ | 36,554 | |||||
Schedule of Capital Leased Assets | ' | ||||||||
The Company has included the leases in buildings and improvements as follows: | |||||||||
2013 | 2012 | ||||||||
Capital Leases | $ | 3,896 | $ | 2,442 | |||||
Less: Accumulated Depreciation | (483 | ) | (344 | ) | |||||
Total | $ | 3,413 | $ | 2,098 | |||||
Schedule of Future Minimum Lease Payments under Capitalized Leases | ' | ||||||||
The following is a schedule of future minimum lease payments under the capitalized leases, together with the present value of net minimum lease payments at year end 2013: | |||||||||
2014 | $ | 495 | |||||||
2015 | 495 | ||||||||
2016 | 495 | ||||||||
2017 | 495 | ||||||||
2018 | 465 | ||||||||
Thereafter | 6,216 | ||||||||
Total minimum lease payments | 8,661 | ||||||||
Less: Amount representing interest | (4,931 | ) | |||||||
Present Value of Net Minimum Lease Payments | $ | 3,730 | |||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Deposits [Abstract] | ' | ||||
Schedule of Deposits Maturities | ' | ||||
At year end 2013, stated maturities of time deposits were as follows: | |||||
2014 | $ | 174,109 | |||
2015 | 66,131 | ||||
2016 | 76,207 | ||||
2017 | 17,943 | ||||
2018 | 14,465 | ||||
Thereafter | 179 | ||||
Total | $ | 349,034 | |||
FHLB_Advances_and_Other_Borrow1
FHLB Advances and Other Borrowings (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
FHLB Advances and Other Borrowings [Abstract] | ' | ||||||||||||||||||||||||||
Schedule of Borrowings, Debt and Repurchase Agreements | ' | ||||||||||||||||||||||||||
Information regarding each of these types of borrowings or other indebtedness is as follows: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $ | 71,483 | $ | 51,526 | |||||||||||||||||||||||
Term Loans | 7,000 | 1,500 | |||||||||||||||||||||||||
Junior Subordinated Debentures assumed from American Community Bancorp, Inc. | 5,024 | 4,874 | |||||||||||||||||||||||||
Subordinated Debentures | - | 29,250 | |||||||||||||||||||||||||
Capital Lease Obligation | 3,730 | 2,322 | |||||||||||||||||||||||||
Long-term Borrowings | 87,237 | 89,472 | |||||||||||||||||||||||||
Overnight Variable Rate Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $ | 38,000 | $ | 48,500 | |||||||||||||||||||||||
Federal Funds Purchased | - | 5,400 | |||||||||||||||||||||||||
Repurchase Agreements | 15,533 | 17,634 | |||||||||||||||||||||||||
Short-term Borrowings | 53,533 | 71,534 | |||||||||||||||||||||||||
Total Borrowings | $ | 140,770 | $ | 161,006 | |||||||||||||||||||||||
Schedule of Repurchase Agreements | ' | ||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Average Daily Balance During the Year | $ | 14,772 | $ | 19,813 | |||||||||||||||||||||||
Average Interest Rate During the Year | 0.2 | % | 0.23 | % | |||||||||||||||||||||||
Maximum Month-end Balance During the Year | $ | 17,722 | $ | 24,220 | |||||||||||||||||||||||
Weighted Average Interest Rate at Year-end | 0.2 | % | 0.2 | % | |||||||||||||||||||||||
Schedule of Principal Payments on Long-Term Borrowings | ' | ||||||||||||||||||||||||||
At December 31, 2013, scheduled principal payments on long-term borrowings, excluding the capitalized lease obligation and acquired subordinated debentures (which are discussed below) are as follows: | |||||||||||||||||||||||||||
2014 | $ | 43,039 | |||||||||||||||||||||||||
2015 | 24,042 | ||||||||||||||||||||||||||
2016 | 45 | ||||||||||||||||||||||||||
2017 | 749 | ||||||||||||||||||||||||||
2018 | 10,027 | ||||||||||||||||||||||||||
Thereafter | 581 | ||||||||||||||||||||||||||
Total | $ | 78,483 | |||||||||||||||||||||||||
Schedule of Issuance of Subordinated Debentures | ' | ||||||||||||||||||||||||||
The following table summarizes the terms of each issuance: | |||||||||||||||||||||||||||
Carrying | |||||||||||||||||||||||||||
Date of | Issuance | Amount at | Rate as of | Rate as of | Maturity | ||||||||||||||||||||||
Issuance | Amount | 31-Dec-13 | Variable Rate | 31-Dec-13 | 31-Dec-12 | Date | |||||||||||||||||||||
ACB Trust I | 5/6/05 | $ | 5,155 | $ | 3,186 | 90 day LIBOR + 2.15% | 2.4 | % | 2.46 | % | May-35 | ||||||||||||||||
ACB Trust II | 7/15/05 | 3,093 | 1,838 | 90 day LIBOR + 1.85% | 2.09 | % | 2.16 | % | Jul-35 | ||||||||||||||||||
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||||||||||||
Schedule of Consolidated and Affiliate Bank Actual Capital and Minimum Required Levels | ' | ||||||||||||||||||||||
At December 31, 2013, consolidated and affiliate bank actual capital and minimum required levels are presented below: | |||||||||||||||||||||||
Minimum Required | |||||||||||||||||||||||
To Be Well- | |||||||||||||||||||||||
Minimum Required | Capitalized Under | ||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||
Actual | Adequacy Purposes: | Action Regulations: | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
Total Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 201,233 | 13.07 | % | $ | 123,189 | 8 | % | N/A | N/A | |||||||||||||
Bank | 191,714 | 12.46 | 123,099 | 8 | $ | 153,874 | 10 | % | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 186,649 | 12.12 | % | $ | 61,594 | 4 | % | N/A | N/A | |||||||||||||
Bank | 177,130 | 11.51 | 61,550 | 4 | $ | 92,324 | 6 | % | |||||||||||||||
Tier 1 Capital (to Average Assets) | |||||||||||||||||||||||
Consolidated | $ | 186,649 | 8.78 | % | $ | 85,005 | 4 | % | N/A | N/A | |||||||||||||
Bank | 177,130 | 8.37 | 84,686 | 4 | $ | 105,857 | 5 | % | |||||||||||||||
At December 31, 2012, consolidated and affiliate bank actual capital and minimum required levels are presented below: | |||||||||||||||||||||||
Minimum Required | |||||||||||||||||||||||
To Be Well- | |||||||||||||||||||||||
Minimum Required | Capitalized Under | ||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||
Actual | Adequacy Purposes: | Action Regulations: | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||
Total Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 194,990 | 13.7 | % | $ | 113,859 | 8 | % | N/A | N/A | |||||||||||||
Bank | 167,904 | 11.83 | 113,523 | 8 | $ | 141,904 | 10 | % | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | |||||||||||||||||||||||
Consolidated | $ | 158,198 | 11.12 | % | $ | 56,930 | 4 | % | N/A | N/A | |||||||||||||
Bank | 152,384 | 10.74 | 56,762 | 4 | $ | 85,142 | 6 | % | |||||||||||||||
Tier 1 Capital (to Average Assets) | |||||||||||||||||||||||
Consolidated | $ | 158,198 | 8.18 | % | $ | 77,317 | 4 | % | N/A | N/A | |||||||||||||
Bank | 152,384 | 7.91 | 77,025 | 4 | $ | 96,281 | 5 | % | |||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||||||||
The following table presents activity for stock options under the Company's equity incentive plan for 2013: | |||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||
Weighted | Weighted Average | Aggregate | |||||||||||||||||||||
Number of | Average Price | Life of Options | Intrinsic | ||||||||||||||||||||
Options | of Options | (in years) | Value | ||||||||||||||||||||
Outstanding at Beginning of Period | 79,917 | $ | 16.73 | ||||||||||||||||||||
Granted | - | - | |||||||||||||||||||||
Exercised | (8,300 | ) | 17.35 | ||||||||||||||||||||
Forfeited | - | - | |||||||||||||||||||||
Expired | (2,100 | ) | 18.19 | ||||||||||||||||||||
Outstanding and Exercisable at End of Period | 69,517 | $ | 16.61 | 3.43 | $ | 821 | |||||||||||||||||
Schedule of Stock Option Activity under Equity Incentive Plan | ' | ||||||||||||||||||||||
The following table presents information related to stock options under the Company's equity incentive plan during the years ended 2013, 2012 and 2011: | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Intrinsic Value of Options Exercised | $ | 49 | $ | 203 | $ | 28 | |||||||||||||||||
Cash Received from Option Exercises | $ | - | $ | - | $ | - | |||||||||||||||||
Tax Benefit of Option Exercises | $ | 20 | $ | 78 | $ | 12 | |||||||||||||||||
Weighted Average Fair Value of Options Granted | $ | - | $ | - | $ | - | |||||||||||||||||
Schedule of Restricted Stock and Cash Entitlements Expense | ' | ||||||||||||||||||||||
The following table presents expense recorded for restricted stock and cash entitlements as well as the related tax effect for the years ended 2013, 2012 and 2011: | |||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||
Restricted Stock Expense | $ | 329 | $ | 628 | $ | 636 | |||||||||||||||||
Cash Entitlement Expense | 217 | 588 | 564 | ||||||||||||||||||||
Tax Effect | (221 | ) | (493 | ) | (475 | ) | |||||||||||||||||
Net of Tax | $ | 325 | $ | 723 | $ | 725 | |||||||||||||||||
Schedule of Restricted Stock Grants Outstanding | ' | ||||||||||||||||||||||
The following table presents information on restricted stock grants outstanding for the period shown: | |||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||
Weighted | |||||||||||||||||||||||
Restricted | Average Market | ||||||||||||||||||||||
Shares | Price at Grant | ||||||||||||||||||||||
Outstanding at Beginning of Period | 4,983 | $ | 22.07 | ||||||||||||||||||||
Granted | 33,031 | 23.41 | |||||||||||||||||||||
Issued and Vested | (14,620 | ) | 22.57 | ||||||||||||||||||||
Forfeited | (453 | ) | 22.07 | ||||||||||||||||||||
Outstanding at End of Period | 22,941 | 23.68 | |||||||||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||
Schedule of Accumulated Plan Benefit Information | ' | ||||||||||||
Accumulated plan benefit information for the Company's plan as of December 31, 2013 and 2012 was as follows: | |||||||||||||
Changes in Benefit Obligation: | 2013 | 2012 | |||||||||||
Obligation at Beginning of Year | $ | 837 | $ | 734 | |||||||||
Interest Cost | 25 | 27 | |||||||||||
Benefits Paid | (33 | ) | (33 | ) | |||||||||
Lump Sum Benefits Paid | (809 | ) | - | ||||||||||
Actuarial (Gain) Loss | (62 | ) | 109 | ||||||||||
Effect of Settlement/Curtailment | 42 | - | |||||||||||
Obligation at End of Year | $ | - | $ | 837 | |||||||||
Changes in Plan Assets: | |||||||||||||
Fair Value at Beginning of Year | 399 | 353 | |||||||||||
Actual Return on Plan Assets | - | 1 | |||||||||||
Employer Contributions | 443 | 78 | |||||||||||
Periodic Benefits Paid | (33 | ) | (33 | ) | |||||||||
Lump Sum Benefits Paid | (809 | ) | - | ||||||||||
Fair Value at End of Year | $ | - | $ | 399 | |||||||||
Funded Status: | |||||||||||||
Funded Status at End of Year | $ | - | $ | (438 | ) | ||||||||
Amounts recognized in accumulated other comprehensive income at December 31 consist of: | |||||||||||||
2013 | 2012 | ||||||||||||
Net Loss (Gain) | $ | - | $ | 360 | |||||||||
Prior Service Cost | - | 13 | |||||||||||
$ | - | $ | 373 | ||||||||||
Components of Net Periodic Benefit Cost Recognized in Other Comprehensive Income | ' | ||||||||||||
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Interest Cost | $ | 25 | $ | 27 | $ | 32 | |||||||
Expected Return on Assets | (1 | ) | (1 | ) | (2 | ) | |||||||
Amortization of Prior Service Cost | 1 | 1 | 1 | ||||||||||
Recognition of Net Loss | 46 | 30 | 31 | ||||||||||
Net Periodic Benefit Cost | $ | 71 | $ | 57 | $ | 62 | |||||||
Net Loss (Gain) During the Period | (19 | ) | 110 | 24 | |||||||||
Amortization of Unrecognized Loss | (341 | ) | (30 | ) | (30 | ) | |||||||
Amortization of Prior Service Cost | (13 | ) | (1 | ) | (1 | ) | |||||||
Total Recognized in Other Comprehensive Income (Loss) | (373 | ) | 79 | (7 | ) | ||||||||
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive | $ | (302 | ) | $ | 136 | $ | 55 | ||||||
Income (Loss) | |||||||||||||
Schedule of Assumptions used in Determining Benefit Obligations and Net Periodic Pension Cost | ' | ||||||||||||
Assumptions | |||||||||||||
Weighted-average assumptions used to determine benefit obligations at year-end: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount Rate | N/A | 3.25 | % | 3.75 | % | ||||||||
Rate of Compensation Increase (1) | N/A | N/A | N/A | ||||||||||
Weighted-average assumptions used to determine net periodic pension cost: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discount Rate | 3.25 | % | 3.75 | % | 4.6 | % | |||||||
Expected Return on Plan Assets | 0.25 | % | 0.25 | % | 0.5 | % | |||||||
Rate of Compensation Increase (1) | N/A | N/A | N/A | ||||||||||
-1 | Benefits under the plan were suspended in 1998; therefore, the weighted-average rate of increase in future compensation levels was not applicable for all years presented. | ||||||||||||
Schedule of Changes in Accumulated Postretirement Benefits Obligations | ' | ||||||||||||
Changes in Accumulated Postretirement Benefit Obligations: | 2013 | 2012 | |||||||||||
Obligation at the Beginning of Year | $ | 691 | $ | 624 | |||||||||
Unrecognized Loss (Gain) | (33 | ) | 43 | ||||||||||
Components of Net Periodic Postretirement Benefit Cost: | |||||||||||||
Service Cost | 40 | 35 | |||||||||||
Interest Cost | 23 | 24 | |||||||||||
Net Expected Benefit Payments | (50 | ) | (35 | ) | |||||||||
Obligation at End of Year | $ | 671 | $ | 691 | |||||||||
Components of Postretirement Benefit Expense | ' | ||||||||||||
Components of Postretirement Benefit Expense: | 2013 | 2012 | 2011 | ||||||||||
Service Cost | $ | 40 | $ | 35 | $ | 28 | |||||||
Interest Cost | 23 | 24 | 25 | ||||||||||
Amortization of Unrecognized Net (Gain) Loss | 4 | - | - | ||||||||||
Net Postretirement Benefit Expense | 67 | 59 | 53 | ||||||||||
Net Gain (Loss) During Period Recognized in Other Comprehensive Income | (37 | ) | 42 | 57 | |||||||||
Total Recognized in Net Postretirement Benefit Expense and Other Comprehensive Income | $ | 30 | $ | 101 | $ | 110 | |||||||
Schedule of Assumption of Health Care Cost Trend Rates | ' | ||||||||||||
Assumptions Used to Determine Net Periodic Cost and Benefit Obligations: | 2013 | 2012 | 2011 | ||||||||||
Discount Rate | 4.31 | % | 3.41 | % | 3.98 | % | |||||||
Assumed Health Care Cost Trend Rates at Year-end: | 2013 | 2012 | |||||||||||
Health Care Cost Trend Rate Assumed for Next Year | 8 | % | 8 | % | |||||||||
Rate that the Cost Trend Rate Gradually Declines to | 5 | % | 4.5 | % | |||||||||
Year that the Rate Reaches the Rate it is Assumed to Remain at | 2019 | 2019 | |||||||||||
Schedule of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | ' | ||||||||||||
A one-percentage-point change in assumed health care cost trend rates would have the following effects as of December 31, 2013: | |||||||||||||
One-Percentage-Point | One-Percentage-Point | ||||||||||||
Increase | Decrease | ||||||||||||
Effect on Total of Service and Interest Cost | $ | 6 | $ | (5 | ) | ||||||||
Effect on Postretirement Benefit Obligation | $ | 41 | $ | (37 | ) | ||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||
The following postretirement benefit payments, which reflect expected future service, are expected to be paid: | |||||||||||||
2014 | $ | 39 | |||||||||||
2015 | 49 | ||||||||||||
2016 | 49 | ||||||||||||
2017 | 60 | ||||||||||||
2018 | 63 | ||||||||||||
2019-2023 | 383 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Provision for Income Taxes | ' | ||||||||||||
The provision for income taxes consists of the following: | 2013 | 2012 | 2011 | ||||||||||
Current Federal | $ | 9,103 | $ | 9,649 | $ | 3,333 | |||||||
Current State | 648 | 568 | 184 | ||||||||||
Deferred Federal | 1,090 | 260 | 4,241 | ||||||||||
Deferred State | 623 | 192 | (32 | ) | |||||||||
Total | $ | 11,464 | $ | 10,669 | $ | 7,726 | |||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
Income tax expense is reconciled to the 35% statutory rate applied to the pre-tax income for the years presented in the table below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory Rate Times Pre-tax Income | $ | 12,907 | $ | 12,153 | $ | 9,791 | |||||||
Add (Subtract) the Tax Effect of: | |||||||||||||
Income from Tax-exempt Loans and Investments | (1,157 | ) | (1,007 | ) | (780 | ) | |||||||
State Income Tax, Net of Federal Tax Effect | 826 | 494 | 99 | ||||||||||
General Business Tax Credits | (556 | ) | (547 | ) | (370 | ) | |||||||
Company Owned Life Insurance | (338 | ) | (341 | ) | (385 | ) | |||||||
Gain on United Commerce Bancorp Stock | (120 | ) | - | - | |||||||||
Gain on American Community Bancorp, Inc. Stock | - | - | (366 | ) | |||||||||
Other Differences | (98 | ) | (83 | ) | (263 | ) | |||||||
Total Income Taxes | $ | 11,464 | $ | 10,669 | $ | 7,726 | |||||||
Schedule of Net Deferred Tax Liability | ' | ||||||||||||
The net deferred tax liability at December 31 consists of the following: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Assets: | |||||||||||||
Allowance for Loan Losses | $ | 4,871 | $ | 5,845 | |||||||||
Unrealized Loss on Securities | 2,809 | - | |||||||||||
Deferred Compensation and Employee Benefits | 1,136 | 1,282 | |||||||||||
Other-than-temporary Impairment | 388 | 443 | |||||||||||
Accrued Expenses | 601 | 646 | |||||||||||
Business Combination Fair Value Adjustments | 847 | - | |||||||||||
Pension and Postretirement Plans | 35 | 195 | |||||||||||
Other Real Estate Owned | 288 | 140 | |||||||||||
Non-Accrual Loan Interest Income | 269 | 254 | |||||||||||
Net Operating Loss Carryforward | 224 | - | |||||||||||
Other | 313 | 279 | |||||||||||
Total Deferred Tax Assets | 11,781 | 9,084 | |||||||||||
Deferred Tax Liabilities: | |||||||||||||
Depreciation | (1,465 | ) | (1,419 | ) | |||||||||
Leasing Activities, Net | (7,797 | ) | (7,753 | ) | |||||||||
Unrealized Gain on Securities | - | (5,915 | ) | ||||||||||
FHLB Stock Dividends | (343 | ) | (336 | ) | |||||||||
Prepaid Expenses | (492 | ) | (516 | ) | |||||||||
Intangibles | (804 | ) | (359 | ) | |||||||||
Deferred Loan Fees | (460 | ) | (394 | ) | |||||||||
Business Combination Fair Value Adjustments | - | (333 | ) | ||||||||||
General Business Tax Credits | (23 | ) | (7 | ) | |||||||||
Other | (330 | ) | (255 | ) | |||||||||
Total Deferred Tax Liabilities | (11,714 | ) | (17,287 | ) | |||||||||
Valuation Allowance | - | (45 | ) | ||||||||||
Net Deferred Tax Asset (Liability) | $ | 67 | $ | (8,248 | ) | ||||||||
Per_Share_Data_Tables
Per Share Data (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Per Share Data [Abstract] | ' | ||||||||||||
Computations of Basic Earnings Per Share and Diluted Earnings Per Share | ' | ||||||||||||
The computation of Basic Earnings per Share and Diluted Earnings per Share are provided below: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic Earnings per Share: | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Weighted Average Shares Outstanding | 12,786,065 | 12,622,049 | 12,581,646 | ||||||||||
Basic Earnings per Share | $ | 1.99 | $ | 1.91 | $ | 1.61 | |||||||
Diluted Earnings per Share: | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Weighted Average Shares Outstanding | 12,786,065 | 12,622,049 | 12,581,646 | ||||||||||
Stock Options, Net | 21,613 | 15,694 | 6,102 | ||||||||||
Diluted Weighted Average Shares Outstanding | 12,807,678 | 12,637,743 | 12,587,748 | ||||||||||
Diluted Earnings per Share | $ | 1.98 | $ | 1.9 | $ | 1.61 | |||||||
Lease_Commitments_Tables
Lease Commitments (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Lease Commitments [Abstract] | ' | ||||
Schedule of Future Minimum Lease Payments for Premises and Equipment | ' | ||||
The following is a schedule of future minimum lease payments for premises and equipment at year end 2013: | |||||
2014 | $ | 608 | |||
2015 | 511 | ||||
2016 | 446 | ||||
2017 | 259 | ||||
2018 | 154 | ||||
Thereafter | 1,508 | ||||
Total | $ | 3,486 | |||
Commitments_and_Offbalance_She1
Commitments and Off-balance Sheet Items (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments and Off-balance Sheet Items [Abstract] | ' | ||||||||||||||||
Schedule of Commitments and Off Balance Sheet Items | ' | ||||||||||||||||
Commitments and contingent liabilities are summarized as follows, at December 31: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitments to Fund Loans: | |||||||||||||||||
Consumer Lines | $ | 8,940 | $ | 145,064 | $ | 6,013 | $ | 137,668 | |||||||||
Commercial Operating Lines | 23,717 | 199,231 | 13,444 | 187,829 | |||||||||||||
Residential Mortgages | 11,249 | 930 | 33,004 | 676 | |||||||||||||
Total Commitments to Fund Loans | $ | 43,906 | $ | 345,225 | $ | 52,461 | $ | 326,173 | |||||||||
Commitments to Sell Loans | $ | 20,672 | $- | $ | 52,511 | $- | |||||||||||
Standby Letters of Credit | $ | 1,515 | $ | 5,262 | $ | 1,408 | $ | 4,279 | |||||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | - | $ | 18,952 | $ | - | $ | 18,952 | |||||||||||||||||
Corporate Securities | - | - | - | - | |||||||||||||||||||||
Obligations of State and Political Subdivisions | - | 102,665 | 10,832 | 113,497 | |||||||||||||||||||||
Mortgage-backed Securities-Residential | - | 473,230 | - | 473,230 | |||||||||||||||||||||
Equity Securities | - | - | 353 | 353 | |||||||||||||||||||||
Total Securities | $ | - | $ | 594,847 | $ | 11,185 | $ | 606,032 | |||||||||||||||||
Loans Held-for-Sale | $ | - | $ | 9,265 | $ | - | $ | 9,265 | |||||||||||||||||
Derivative Assets | $ | - | $ | 866 | $ | - | $ | 866 | |||||||||||||||||
Derivative Liabilities | $ | - | $ | 737 | $ | - | $ | 737 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
U.S. Treasury and Agency Securities | $ | - | $ | 23,472 | $ | - | $ | 23,472 | |||||||||||||||||
Corporate Securities | - | - | - | - | |||||||||||||||||||||
Obligations of State and Political Subdivisions | - | 64,316 | 12,169 | 76,485 | |||||||||||||||||||||
Mortgage-backed Securities-Residential | - | 486,912 | - | 486,912 | |||||||||||||||||||||
Equity Securities | 380 | - | 353 | 733 | |||||||||||||||||||||
Total Securities | $ | 380 | $ | 574,700 | $ | 12,522 | $ | 587,602 | |||||||||||||||||
Loans Held-for-Sale | $ | - | $ | 16,641 | $ | - | $ | 16,641 | |||||||||||||||||
Derivative Assets | $ | - | $ | 187 | $ | - | $ | 187 | |||||||||||||||||
Derivative Liabilities | $ | - | $ | 178 | $ | - | $ | 178 | |||||||||||||||||
Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3) | ' | ||||||||||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Obligations of State | |||||||||||||||||||||||||
and Political | |||||||||||||||||||||||||
Subdivisions | Equity Securities | Corporate Securities | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Beginning Balance of Recurring Level 3 Assets at January 1 | $ | 12,169 | $ | 4,075 | $ | 353 | $ | 353 | $ | - | $ | 1,005 | |||||||||||||
Total Gains or Losses (realized/unrealized) Included in earnings | (332 | ) | 156 | - | - | - | - | ||||||||||||||||||
Maturities / Calls | (1,005 | ) | - | - | - | - | (1,005 | ) | |||||||||||||||||
Purchases | - | 7,938 | - | - | - | - | |||||||||||||||||||
Ending Balance of Recurring Level 3 Assets at December 31 | $ | 10,832 | $ | 12,169 | $ | 353 | $ | 353 | $ | - | $ | - | |||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Impaired Loans with Specific Allocations | |||||||||||||||||||||||||
Commercial and Industrial Loans | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Commercial Real Estate Loans | - | - | 1,346 | 1,346 | |||||||||||||||||||||
Agricultural Loans | - | - | - | - | |||||||||||||||||||||
Other Real Estate | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 20 | 20 | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Impaired Loans with Specific Allocations | |||||||||||||||||||||||||
Commercial and Industrial Loans | $ | - | $ | - | $ | 1,231 | $ | 1,231 | |||||||||||||||||
Commercial Real Estate Loans | - | - | 1,497 | 1,497 | |||||||||||||||||||||
Agricultural Loans | - | - | 135 | 135 | |||||||||||||||||||||
Other Real Estate | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 150 | 150 | |||||||||||||||||||||
Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques | ' | ||||||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013 and 2012: | |||||||||||||||||||||||||
Range | |||||||||||||||||||||||||
Valuation | (Weighted | ||||||||||||||||||||||||
31-Dec-13 | Fair Value | Technique(s) | Unobservable Input(s) | Average) | |||||||||||||||||||||
Impaired Loans - Commercial Real Estate Loans | $ | 1,346 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 12%-80% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -53% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Other Real Estate - Commercial Real Estate Loans | $ | 20 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 50% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -50% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Range | |||||||||||||||||||||||||
Valuation | (Weighted | ||||||||||||||||||||||||
31-Dec-12 | Fair Value | Technique(s) | Unobservable Input(s) | Average) | |||||||||||||||||||||
Impaired Loans - Commercial and Industrial Loans | $ | 1,231 | Sales comparison approach | Adjustment for differences between the comparable sales | 4%-68% | ||||||||||||||||||||
-8% | |||||||||||||||||||||||||
Impaired Loans - Commercial Real Estate Loans | $ | 1,497 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 15%-78% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -48% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Impaired Loans - Agricultural Loans | $ | 135 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 76% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -76% | |||||||||||||||||||||||
Other Real Estate - Commercial Real Estate Loans | $ | 150 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 70% | ||||||||||||||||||||
Income approach | Adjustment for net operating income generated by the property | -70% | |||||||||||||||||||||||
Cost approach | Adjustment for investor rates of return | ||||||||||||||||||||||||
Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments | ' | ||||||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||
December 31, 2013 Using | |||||||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and Short-term Investments | $ | 60,232 | $ | 37,370 | $ | 22,862 | $ | - | $ | 60,232 | |||||||||||||||
Securities Held-to-Maturity | 268 | - | 271 | - | 271 | ||||||||||||||||||||
FHLB Stock and Other Restricted Stock | 9,004 | N/A | N/A | N/A | N/A | ||||||||||||||||||||
Loans, Net | 1,366,452 | - | - | 1,370,339 | 1,370,339 | ||||||||||||||||||||
Accrued Interest Receivable | 7,470 | - | 1,918 | 5,552 | 7,470 | ||||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (1,463,122 | ) | (1,463,122 | ) | - | - | (1,463,122 | ) | |||||||||||||||||
Time Deposits | (349,034 | ) | - | (351,707 | ) | - | (351,707 | ) | |||||||||||||||||
Short-term Borrowings | (53,533 | ) | - | (53,533 | ) | - | (53,533 | ) | |||||||||||||||||
Long-term Debt | (87,237 | ) | - | (83,329 | ) | (5,311 | ) | (88,640 | ) | ||||||||||||||||
Accrued Interest Payable | (777 | ) | - | (732 | ) | (45 | ) | (777 | ) | ||||||||||||||||
Unrecognized Financial Instruments: | |||||||||||||||||||||||||
Commitments to Extend Credit | - | - | - | - | - | ||||||||||||||||||||
Standby Letters of Credit | - | - | - | - | - | ||||||||||||||||||||
Commitments to Sell Loans | - | - | - | - | - | ||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||||||
December 31, 2012 Using | |||||||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and Short-term Investments | $ | 51,794 | $ | 41,624 | $ | 10,170 | $ | - | $ | 51,794 | |||||||||||||||
Securities Held-to-Maturity | 346 | - | 351 | - | 351 | ||||||||||||||||||||
FHLB Stock and Other Restricted Stock | 8,340 | N/A | N/A | N/A | N/A | ||||||||||||||||||||
Loans, Net | 1,186,483 | - | - | 1,199,566 | 1,199,566 | ||||||||||||||||||||
Accrued Interest Receivable | 7,419 | - | 1,893 | 5,526 | 7,419 | ||||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (1,311,748 | ) | (1,311,748 | ) | - | - | (1,311,748 | ) | |||||||||||||||||
Time Deposits | (329,183 | ) | - | (333,170 | ) | - | (333,170 | ) | |||||||||||||||||
Short-term Borrowings | (71,534 | ) | - | (71,534 | ) | - | (71,534 | ) | |||||||||||||||||
Long-term Debt | (89,472 | ) | - | (66,892 | ) | (28,872 | ) | (95,764 | ) | ||||||||||||||||
Accrued Interest Payable | (1,275 | ) | - | (829 | ) | (446 | ) | (1,275 | ) | ||||||||||||||||
Unrecognized Financial Instruments: | |||||||||||||||||||||||||
Commitments to Extend Credit | - | - | - | - | - | ||||||||||||||||||||
Standby Letters of Credit | - | - | - | - | - | ||||||||||||||||||||
Commitments to Sell Loans | - | - | - | - | - | ||||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||||||
Segment Financial Information | ' | ||||||||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Net Interest Income | $ | 69,634 | $ | 21 | $ | 17 | $ | (1,155 | ) | $ | 68,517 | ||||||||||
Net Gains on Sales of Loans | 2,645 | - | - | - | 2,645 | ||||||||||||||||
Net Gains on Securities | 2,065 | - | - | 364 | 2,429 | ||||||||||||||||
Trust and Investment Product Fees | 6 | 3,355 | - | (3 | ) | 3,358 | |||||||||||||||
Insurance Revenues | 39 | 31 | 6,147 | - | 6,217 | ||||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 350 | - | - | - | 350 | ||||||||||||||||
Depreciation and Amortization | 3,944 | 28 | 339 | 150 | 4,461 | ||||||||||||||||
Income Tax Expense (Benefit) | 12,387 | (32 | ) | 320 | (1,211 | ) | 11,464 | ||||||||||||||
Segment Profit (Loss) | 25,389 | (70 | ) | 425 | (331 | ) | 25,413 | ||||||||||||||
Segment Assets at December 31, 2013 | 2,171,837 | 11,663 | 5,636 | (25,309 | ) | 2,163,827 | |||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Net Interest Income | $ | 68,311 | $ | 21 | $ | 34 | $ | (2,118 | ) | $ | 66,248 | ||||||||||
Net Gains on Sales of Loans | 3,234 | - | - | - | 3,234 | ||||||||||||||||
Net Gains on Securities | 1,667 | - | - | - | 1,667 | ||||||||||||||||
Trust and Investment Product Fees | 5 | 2,657 | - | (5 | ) | 2,657 | |||||||||||||||
Insurance Revenues | 23 | 36 | 5,465 | - | 5,524 | ||||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 2,412 | - | - | - | 2,412 | ||||||||||||||||
Depreciation and Amortization | 4,099 | 24 | 415 | 150 | 4,688 | ||||||||||||||||
Income Tax Expense (Benefit) | 11,999 | (187 | ) | 181 | (1,324 | ) | 10,669 | ||||||||||||||
Segment Profit (Loss) | 25,118 | (298 | ) | 250 | (1,015 | ) | 24,055 | ||||||||||||||
Segment Assets at December 31, 2012 | 2,006,992 | 11,551 | 8,333 | (20,576 | ) | 2,006,300 | |||||||||||||||
Trust and | |||||||||||||||||||||
Investment | |||||||||||||||||||||
Core | Advisory | Consolidated | |||||||||||||||||||
Banking | Services | Insurance | Other | Totals | |||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Net Interest Income | $ | 66,099 | $ | 16 | $ | 22 | $ | (2,156 | ) | $ | 63,981 | ||||||||||
Net Gains on Sales of Loans | 2,381 | - | - | - | 2,381 | ||||||||||||||||
Net Gains on Securities | 2,089 | - | - | 935 | 3,024 | ||||||||||||||||
Trust and Investment Product Fees | 3 | 2,147 | - | (5 | ) | 2,145 | |||||||||||||||
Insurance Revenues | 67 | 13 | 5,755 | (16 | ) | 5,819 | |||||||||||||||
Noncash Items: | |||||||||||||||||||||
Provision for Loan Losses | 6,800 | - | - | - | 6,800 | ||||||||||||||||
Depreciation and Amortization | 4,481 | 26 | 482 | 150 | 5,139 | ||||||||||||||||
Income Tax Expense (Benefit) | 9,171 | (353 | ) | 272 | (1,364 | ) | 7,726 | ||||||||||||||
Segment Profit (Loss) | 20,855 | (545 | ) | 352 | (413 | ) | 20,249 | ||||||||||||||
Segment Assets at December 31, 2011 | 1,875,417 | 11,801 | 7,948 | (21,399 | ) | 1,873,767 | |||||||||||||||
Parent_Company_Financial_State1
Parent Company Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Parent Company Financial Statements [Abstract] | ' | ||||||||||||
Condensed Balance Sheets | ' | ||||||||||||
CONDENSED BALANCE SHEETS | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash | $ | 9,721 | $ | 29,499 | |||||||||
Securities Available-for-Sale, at Fair Value | 353 | 733 | |||||||||||
Investment in Subsidiary Bank | 195,480 | 184,093 | |||||||||||
Investment in Non-banking Subsidiaries | 3,650 | 4,064 | |||||||||||
Other Assets | 6,271 | 6,245 | |||||||||||
Total Assets | $ | 215,475 | $ | 224,634 | |||||||||
LIABILITIES | |||||||||||||
Borrowings | $ | 12,024 | $ | 35,624 | |||||||||
Other Liabilities | 3,354 | 3,984 | |||||||||||
Total Liabilities | 15,378 | 39,608 | |||||||||||
SHAREHOLDERS' EQUITY | |||||||||||||
Common Stock | 13,174 | 12,637 | |||||||||||
Additional Paid-in Capital | 108,022 | 95,617 | |||||||||||
Retained Earnings | 84,164 | 66,421 | |||||||||||
Accumulated Other Comprehensive Income (Loss) | (5,263 | ) | 10,351 | ||||||||||
Total Shareholders' Equity | 200,097 | 185,026 | |||||||||||
Total Liabilities and Shareholders' Equity | $ | 215,475 | $ | 224,634 | |||||||||
Condensed Statements of Income and Comprehensive Income | ' | ||||||||||||
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
INCOME | |||||||||||||
Dividends from Subsidiaries | |||||||||||||
Bank | $ | 14,000 | $ | 17,500 | $ | 22,500 | |||||||
Non-bank | 1,500 | - | 1,350 | ||||||||||
Interest Income | 31 | 50 | 38 | ||||||||||
Net Gain on Securities | 343 | - | 935 | ||||||||||
Other Income | 75 | 70 | 71 | ||||||||||
Total Income | 15,949 | 17,620 | 24,894 | ||||||||||
EXPENSES | |||||||||||||
Salaries and Employee Benefits | 824 | 458 | 444 | ||||||||||
Professional Fees | 485 | 352 | 379 | ||||||||||
Occupancy and Equipment Expense | 7 | 7 | 8 | ||||||||||
Interest Expense | 1,246 | 2,221 | 2,239 | ||||||||||
Other Expenses | 615 | 359 | 357 | ||||||||||
Total Expenses | 3,177 | 3,397 | 3,427 | ||||||||||
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 12,772 | 14,223 | 21,467 | ||||||||||
Income Tax Benefit | 1,235 | 1,338 | 1,364 | ||||||||||
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | 14,007 | 15,561 | 22,831 | ||||||||||
Equity in Undistributed (Excess Distributed) Income of Subsidiaries | 11,406 | 8,494 | (2,582 | ) | |||||||||
NET INCOME | 25,413 | 24,055 | 20,249 | ||||||||||
Other Comprehensive Income: | |||||||||||||
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale | (15,874 | ) | (124 | ) | 5,677 | ||||||||
Changes in Unrecognized Amounts in Pension, Net | 231 | (47 | ) | 4 | |||||||||
Changes in Unrecognized Loss on Postretirement Benefit Obligation, Net | 29 | (21 | ) | (38 | ) | ||||||||
TOTAL COMPREHENSIVE INCOME | $ | 9,799 | $ | 23,863 | $ | 25,892 | |||||||
Condensed Statements of Cash Flows | ' | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||
Net Income | $ | 25,413 | $ | 24,055 | $ | 20,249 | |||||||
Adjustments to Reconcile Net Income to Net Cash from Operations | |||||||||||||
Loss (Gain) on Securities, Net | (343 | ) | - | (935 | ) | ||||||||
Change in Other Assets | 283 | 33 | 3,656 | ||||||||||
Change in Other Liabilities | (510 | ) | 203 | (2,191 | ) | ||||||||
Equity Based Compensation | 329 | 628 | 635 | ||||||||||
Excess Tax Benefit from Restricted Share Grant | (28 | ) | (23 | ) | (37 | ) | |||||||
Equity in Excess Distributed (Undistributed) Income of Subsidiaries | (11,406 | ) | (8,494 | ) | 2,582 | ||||||||
Net Cash from Operating Activities | 13,738 | 16,402 | 23,959 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||
Capital Contribution to Subsidiaries | - | (150 | ) | - | |||||||||
Acquire Banking Entities | (2,135 | ) | - | (1,995 | ) | ||||||||
Net Cash from Investing Activities | (2,135 | ) | (150 | ) | (1,995 | ) | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||
Proceeds from Issuance of Long-term Debt | 10,000 | - | - | ||||||||||
Repayment of Long-term Debt | (33,750 | ) | (1,500 | ) | (1,500 | ) | |||||||
Issuance of Common Stock | 20 | 37 | 12 | ||||||||||
Income Tax Benefit from Restricted Share Grant | 28 | 23 | 37 | ||||||||||
Employee Stock Purchase Plan | (9 | ) | (67 | ) | (25 | ) | |||||||
Dividends Paid | (7,670 | ) | (7,068 | ) | (7,047 | ) | |||||||
Net Cash from Financing Activities | (31,381 | ) | (8,575 | ) | (8,523 | ) | |||||||
Net Change in Cash and Cash Equivalents | (19,778 | ) | 7,677 | 13,441 | |||||||||
Cash and Cash Equivalents at Beginning of Year | 29,499 | 21,822 | 8,381 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 9,721 | $ | 29,499 | $ | 21,822 | |||||||
Business_Combinations_Goodwill1
Business Combinations, Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations, Goodwill and Intangible Assets [Abstract] | ' | ||||||||||||
Schedule of Business Combination Consideration | ' | ||||||||||||
1-Oct-13 | |||||||||||||
Consideration | |||||||||||||
Cash for Options and Fractional Shares | $ | 643 | |||||||||||
Cash Consideration | 1,391 | ||||||||||||
Equity Instruments | 13,348 | ||||||||||||
Fair Value of Total Consideration Transferred | $ | 15,382 | |||||||||||
Schedule of Assets Acquired and Liabilities Assumed | ' | ||||||||||||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | |||||||||||||
Cash and Due From Banks | $ | 430 | |||||||||||
Federal Funds Sold, Other Short-term Investments | 7,362 | ||||||||||||
Interest-bearing Time Deposits with Banks | 100 | ||||||||||||
Securities | 25,644 | ||||||||||||
Loans | 79,575 | ||||||||||||
Premises, Furniture & Equipment | 1,718 | ||||||||||||
Core Deposit Intangible | 2,052 | ||||||||||||
Accrued Interest Receivable & Other Assets | 3,638 | ||||||||||||
Deposits | (106,633 | ) | |||||||||||
Accrued Interest Payable and Other Liabilities | (175 | ) | |||||||||||
Total Identifiable Net Assets | $ | 13,711 | |||||||||||
Goodwill | $ | 1,671 | |||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||
The changes in the carrying amount of goodwill for the periods ended December 31, 2013, 2012, and 2011 were classified as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning of Year | $ | 18,865 | $ | 18,865 | $ | 9,835 | |||||||
Acquired Goodwill | 1,671 | - | 9,030 | ||||||||||
Impairment | - | - | - | ||||||||||
End of Year | $ | 20,536 | $ | 18,865 | $ | 18,865 | |||||||
Schedule of Acquired Intangible Assets | ' | ||||||||||||
Acquired intangible assets were as follows as of year end: | 2013 | ||||||||||||
Gross | Accumulated | ||||||||||||
Amount | Amortization | ||||||||||||
Core Banking | |||||||||||||
Core Deposit Intangible | $ | 9,004 | $ | 5,815 | |||||||||
Unidentified Branch Acquisition Intangible | 257 | 257 | |||||||||||
Insurance | |||||||||||||
Customer List | 5,199 | 5,060 | |||||||||||
Total | $ | 14,460 | $ | 11,132 | |||||||||
Acquired intangible assets were as follows as of year end: | 2012 | ||||||||||||
Gross | Accumulated | ||||||||||||
Amount | Amortization | ||||||||||||
Core Banking | |||||||||||||
Core Deposit Intangible | $ | 6,952 | $ | 4,665 | |||||||||
Unidentified Branch Acquisition Intangible | 257 | 257 | |||||||||||
Insurance | |||||||||||||
Customer List | 5,199 | 4,794 | |||||||||||
Total | $ | 12,408 | $ | 9,716 | |||||||||
Schedule of Estimated Amortization Expense | ' | ||||||||||||
Estimated amortization expense for each of the next five years is as follows: | |||||||||||||
2014 | 1,254 | ||||||||||||
2015 | 790 | ||||||||||||
2016 | 493 | ||||||||||||
2017 | 323 | ||||||||||||
2018 | 235 | ||||||||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income | ' | ||||||||||||||||
The table below summarizes the changes in accumulated other comprehensive income (loss) by component for the year ending December 31, 2013, net of tax: | |||||||||||||||||
Unrealized | |||||||||||||||||
Gains and | Defined | ||||||||||||||||
Losses on | Benefit | ||||||||||||||||
Available-for- | Pension | Postretirement | |||||||||||||||
Sale Securities | Items | Benefit Items | Total | ||||||||||||||
Beginning Balance | $ | 10,643 | $ | (231 | ) | $ | (61 | ) | $ | 10,351 | |||||||
Other Comprehensive Income (Loss) Before | |||||||||||||||||
Reclassification | (14,295 | ) | 453 | 51 | (13,791 | ) | |||||||||||
Amounts Reclassified from Accumulated | |||||||||||||||||
Other Comprehensive Income | (1,579 | ) | (222 | ) | (22 | ) | (1,823 | ) | |||||||||
Net Current Period Other | |||||||||||||||||
Comprehensive Income (Loss) | (15,874 | ) | 231 | 29 | (15,614 | ) | |||||||||||
Ending Balance | $ | (5,231 | ) | $ | - | $ | (32 | ) | $ | (5,263 | ) | ||||||
Summary of Classifications Out of Accumulated Other Comprehensive Income (Loss) by Component | ' | ||||||||||||||||
The table below summarizes the classifications out of accumulated other comprehensive income (loss) by component for the year ending December 31, 2013: | |||||||||||||||||
Amount Reclassified From | |||||||||||||||||
Details about Accumulated Other | Accumulated Other | Affected Line Item in the Statement | |||||||||||||||
Comprehensive Income (Loss) Components | Comprehensive Income (Loss) | Where Net Income is Presented | |||||||||||||||
Unrealized Gains and Losses on | |||||||||||||||||
Available-for-Sale Securities | $ | (2,429 | ) | Net (Gain) Loss on Securities | |||||||||||||
850 | Income Tax Expense | ||||||||||||||||
(1,579 | ) | Net of Tax | |||||||||||||||
Amortization of Defined Benefit Pension Items | |||||||||||||||||
Prior Service Costs | $ | (13 | ) | Salaries and Employee Benefits | |||||||||||||
Actuarial Gains (Losses) | (360 | ) | Salaries and Employee Benefits | ||||||||||||||
151 | Income Tax Expense | ||||||||||||||||
(222 | ) | Net of Tax | |||||||||||||||
Amortization of Post Retirement Plan Items | |||||||||||||||||
Actuarial Gains (Losses) | $ | (37 | ) | Salaries and Employee Benefits | |||||||||||||
15 | Income Tax Expense | ||||||||||||||||
(22 | ) | Net of Tax | |||||||||||||||
Total Reclassifications for the Period | $ | (1,823 | ) | ||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data (Unaudited) [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||||||||||
The following table represents selected quarterly financial data for the Company: | |||||||||||||||||||||
Interest | Net Interest | Net | Earnings per Share | ||||||||||||||||||
Income | Income | Income | Basic | Diluted | |||||||||||||||||
2013 | |||||||||||||||||||||
First Quarter | $ | 18,370 | $ | 16,225 | $ | 5,809 | $ | 0.46 | $ | 0.46 | |||||||||||
Second Quarter | 18,458 | 16,712 | 6,532 | 0.52 | 0.52 | ||||||||||||||||
Third Quarter | 18,812 | 17,192 | 6,483 | 0.51 | 0.51 | ||||||||||||||||
Fourth Quarter | 20,032 | 18,388 | 6,589 | 0.5 | 0.5 | ||||||||||||||||
2012 | |||||||||||||||||||||
First Quarter | $ | 19,727 | $ | 16,612 | $ | 5,602 | $ | 0.44 | $ | 0.44 | |||||||||||
Second Quarter | 19,563 | 16,649 | 5,967 | 0.47 | 0.47 | ||||||||||||||||
Third Quarter | 18,953 | 16,393 | 6,292 | 0.5 | 0.5 | ||||||||||||||||
Fourth Quarter | 18,917 | 16,594 | 6,194 | 0.49 | 0.49 | ||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Minimum [Member] | Maximum [Member] | Building [Member] | Building [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||
Premises, furniture, and equipment, useful life | ' | ' | ' | ' | '10 years | '40 years | '3 years | '10 years |
Finite-lived intangible asset, useful life | ' | ' | '6 years | '10 years | ' | ' | ' | ' |
Cash reserve deposit | $7,431 | $10,752 | ' | ' | ' | ' | ' | ' |
Securities_Schedule_of_Securit
Securities (Schedule of Securities Available-for-Sale) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $614,085 | $571,058 |
Gross Unrealized Gains | 5,885 | 16,739 |
Gross Unrealized Losses | -13,938 | -195 |
Securities Available-for-Sale, at Fair Value | 606,032 | 587,602 |
U.S. Treasury and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 20,000 | 23,570 |
Gross Unrealized Gains | ' | 40 |
Gross Unrealized Losses | -1,048 | -138 |
Securities Available-for-Sale, at Fair Value | 18,952 | 23,472 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 112,008 | 71,352 |
Gross Unrealized Gains | 2,388 | 5,145 |
Gross Unrealized Losses | -899 | -12 |
Securities Available-for-Sale, at Fair Value | 113,497 | 76,485 |
Mortgage-backed Securities - Residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 481,724 | 475,452 |
Gross Unrealized Gains | 3,497 | 11,505 |
Gross Unrealized Losses | -11,991 | -45 |
Securities Available-for-Sale, at Fair Value | 473,230 | 486,912 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 353 | 684 |
Gross Unrealized Gains | ' | 49 |
Gross Unrealized Losses | ' | ' |
Securities Available-for-Sale, at Fair Value | $353 | $733 |
Securities_Schedule_of_Securit1
Securities (Schedule of Securities Held-to-Maturity) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Carrying Amount | $268 | $346 |
Fair value | 271 | 351 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Carrying Amount | 268 | 346 |
Unrecognized Gains | 3 | 5 |
Unrecognized Loss | ' | ' |
Fair value | $271 | $351 |
Securities_Schedule_of_Securit2
Securities (Schedule of Securities by Contractual Maturity) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Securities Available-for-Sale: Amortized cost | ' | ' |
Due in one year or less | $2,935 | ' |
Due after one year through five years | 9,890 | ' |
Due after five years through ten years | 69,906 | ' |
Due after ten years | 49,277 | ' |
Total | 614,085 | 571,058 |
Securities Available-for-Sale: Fair Value | ' | ' |
Due in one year or less | 2,996 | ' |
Due after one year through five years | 10,038 | ' |
Due after five years through ten years | 69,802 | ' |
Due after ten years | 49,613 | ' |
Total | 606,032 | 587,602 |
Securities Held-to-Maturity: Carrying Amount | ' | ' |
Due in one year or less | ' | ' |
Due after one year through five years | 268 | ' |
Due after five years through ten years | ' | ' |
Due after ten years | ' | ' |
Total | 268 | 346 |
Securities Held-to-Maturity: Fair Value | ' | ' |
Due in one year or less | ' | ' |
Due after one year through five years | 271 | ' |
Due after five years through ten years | ' | ' |
Due after ten years | ' | ' |
Total | 271 | 351 |
Mortgage-backed Securities - Residential [Member] | ' | ' |
Securities Available-for-Sale: Amortized cost | ' | ' |
Available-for-Sale, amortized cost | 481,724 | ' |
Total | 481,724 | 475,452 |
Securities Available-for-Sale: Fair Value | ' | ' |
Available-for-Sale, Fair Value | 473,230 | ' |
Total | 473,230 | 486,912 |
Equity Securities [Member] | ' | ' |
Securities Available-for-Sale: Amortized cost | ' | ' |
Available-for-Sale, amortized cost | 353 | ' |
Total | 353 | 684 |
Securities Available-for-Sale: Fair Value | ' | ' |
Available-for-Sale, Fair Value | 353 | ' |
Total | $353 | $733 |
Securities_Schedule_of_Proceed
Securities (Schedule of Proceeds from the Sales of Securities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available-for-Sale | ' | ' | ' |
Proceeds from Sales | $162,344 | $92,344 | $20,061 |
Gross Gains on Sales | 2,086 | 1,667 | 2,089 |
Income Tax Gross Gains | $730 | $583 | $721 |
Securities_Schedule_of_Securit3
Securities (Schedule of Securities with Unrealized Losses) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Less than 12 Months | ' | ' |
Fair Value | $403,858 | $39,227 |
Unrealized Loss | -13,850 | -195 |
12 Months or More | ' | ' |
Fair Value | 1,735 | ' |
Unrealized Loss | -88 | ' |
Total | ' | ' |
Fair Value | 405,593 | 39,227 |
Unrealized Loss | -13,938 | -195 |
U.S. Treasury and Agency Securities [Member] | ' | ' |
Less than 12 Months | ' | ' |
Fair Value | 18,952 | 19,862 |
Unrealized Loss | -1,048 | -138 |
12 Months or More | ' | ' |
Fair Value | ' | ' |
Unrealized Loss | ' | ' |
Total | ' | ' |
Fair Value | 18,952 | 19,862 |
Unrealized Loss | -1,048 | -138 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Less than 12 Months | ' | ' |
Fair Value | 38,878 | 1,042 |
Unrealized Loss | -899 | -12 |
12 Months or More | ' | ' |
Fair Value | ' | ' |
Unrealized Loss | ' | ' |
Total | ' | ' |
Fair Value | 38,878 | 1,042 |
Unrealized Loss | -899 | -12 |
Mortgage-backed Securities - Residential [Member] | ' | ' |
Less than 12 Months | ' | ' |
Fair Value | 346,028 | 18,323 |
Unrealized Loss | -11,903 | -45 |
12 Months or More | ' | ' |
Fair Value | 1,735 | ' |
Unrealized Loss | -88 | ' |
Total | ' | ' |
Fair Value | 347,763 | 18,323 |
Unrealized Loss | -11,991 | -45 |
Equity Securities [Member] | ' | ' |
Less than 12 Months | ' | ' |
Fair Value | ' | ' |
Unrealized Loss | ' | ' |
12 Months or More | ' | ' |
Fair Value | ' | ' |
Unrealized Loss | ' | ' |
Total | ' | ' |
Fair Value | ' | ' |
Unrealized Loss | ' | ' |
Securities_Narrative_Details
Securities (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 |
Securities [Abstract] | ' | ' | ' |
Business acquisition, effective date of acquisition of American Community Bancorp, Inc. | 1-Jan-11 | ' | ' |
Gain recognized on stock held as a result of acquisition | $343 | $1,045 | ' |
Carrying Value Of Securities Pledged To Secure Repurchase Agreements | $141,240 | ' | $61,744 |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (Interest Rate Swap [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Interest Rate Swap [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount of derivatives | $17,853 | $6,051 |
Derivatives_Schedule_of_Hedgin
Derivatives (Schedule of Hedging Activities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Included in Other Assets: | ' | ' |
Interest Rate Swaps, Fair Value | $866 | $187 |
Included in Other Liabilities: | ' | ' |
Interest Rate Swaps, Fair Value | 737 | 178 |
Interest Rate Swap [Member] | ' | ' |
Included in Other Assets: | ' | ' |
Interest Rate Swaps, Notional Amount | 17,853 | 6,051 |
Interest Rate Swaps, Fair Value | 866 | 187 |
Included in Other Liabilities: | ' | ' |
Interest Rate Swaps, Notional Amount | 17,853 | 6,051 |
Interest Rate Swaps, Fair Value | $737 | $178 |
Derivatives_Effect_of_Derivati
Derivatives (Effect of Derivative Instruments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income / (Expense) | $18,388 | $17,192 | $16,712 | $16,225 | $16,594 | $16,393 | $16,649 | $16,612 | $68,517 | $66,248 | $63,981 |
Interest Rate Swap [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income / (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Income / (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | $528 | $163 | ' |
Loans_Components_of_Loans_Deta
Loans (Components of Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Subtotal | $1,385,212 | $1,207,901 | ' | ' |
Unearned Income | -2,830 | -3,035 | ' | ' |
Allowance for Loan Losses | -14,584 | -15,520 | -15,312 | -13,317 |
Loans, Net | 1,367,798 | 1,189,346 | ' | ' |
Commercial [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Commercial and Industrial Loans and Leases | 350,955 | 335,373 | ' | ' |
Commercial Real Estate Loans | 582,066 | 488,496 | ' | ' |
Agricultural Loans | 192,880 | 179,906 | ' | ' |
Retail [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Home Equity Loans | 81,504 | 74,437 | ' | ' |
Consumer Loans | 49,124 | 41,103 | ' | ' |
Residential Mortgage Loans | $128,683 | $88,586 | ' | ' |
Loans_Schedule_of_Allowance_fo
Loans (Schedule of Allowance for Loan Losses) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | $15,520 | $15,312 | $13,317 |
Provision for Loan Losses | 350 | 2,412 | 6,800 |
Recoveries | 386 | 326 | 384 |
Loans Charged-off | -1,672 | -2,530 | -5,189 |
Ending Balance | 14,584 | 15,520 | 15,312 |
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 4,555 | 3,493 | 3,713 |
Provision for Loan Losses | -197 | 1,150 | 1,195 |
Recoveries | 128 | 74 | 98 |
Loans Charged-off | -503 | -162 | -1,513 |
Ending Balance | 3,983 | 4,555 | 3,493 |
Commercial Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 8,931 | 9,297 | 7,497 |
Provision for Loan Losses | -160 | 1,326 | 4,265 |
Recoveries | 102 | 97 | 139 |
Loans Charged-off | -538 | -1,789 | -2,604 |
Ending Balance | 8,335 | 8,931 | 9,297 |
Agricultural Loans [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 989 | 926 | 750 |
Provision for Loan Losses | -43 | 63 | 176 |
Recoveries | ' | ' | ' |
Loans Charged-off | ' | ' | ' |
Ending Balance | 946 | 989 | 926 |
Home Equity Loans [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 141 | 258 | 220 |
Provision for Loan Losses | 419 | -32 | 287 |
Recoveries | ' | 2 | 6 |
Loans Charged-off | -321 | -87 | -255 |
Ending Balance | 239 | 141 | 258 |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 214 | 190 | 362 |
Provision for Loan Losses | 112 | 194 | 23 |
Recoveries | 148 | 123 | 125 |
Loans Charged-off | -286 | -293 | -320 |
Ending Balance | 188 | 214 | 190 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 186 | 402 | 543 |
Provision for Loan Losses | 111 | -47 | 340 |
Recoveries | 8 | 30 | 16 |
Loans Charged-off | -24 | -199 | -497 |
Ending Balance | 281 | 186 | 402 |
Unallocated [Member] | ' | ' | ' |
Financing Receivable Allowance For Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 504 | 746 | 232 |
Provision for Loan Losses | 108 | -242 | 514 |
Recoveries | ' | ' | ' |
Loans Charged-off | ' | ' | ' |
Ending Balance | $612 | $504 | $746 |
Loans_Schedule_of_Allowance_fo1
Loans (Schedule of Allowance for Loan Losses and Recorded Investment in Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Thousands, unless otherwise specified | ||||||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | $3,095 | $5,323 | ' | ' | ||
Collectively Evaluated for Impairment | 11,481 | 10,109 | ' | ' | ||
Acquired with Deteriorated Credit Quality | 8 | 88 | ' | ' | ||
Total Ending Allowance Balance | 14,584 | 15,520 | 15,312 | 13,317 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | 8,458 | 12,520 | ' | ' | ||
Loans Collectively Evaluated for Impairment | 1,367,591 | 1,189,729 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 14,753 | 11,174 | 16,121 | ' | ||
Total Ending Loans Balance | 1,390,802 | [1] | 1,213,423 | [2] | ' | ' |
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | 45 | 1,279 | ' | ' | ||
Collectively Evaluated for Impairment | 3,938 | 3,208 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | 68 | ' | ' | ||
Total Ending Allowance Balance | 3,983 | 4,555 | 3,493 | 3,713 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | 2,114 | 2,547 | ' | ' | ||
Loans Collectively Evaluated for Impairment | 347,808 | 331,920 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 1,981 | 1,840 | 2,596 | ' | ||
Total Ending Loans Balance | 351,903 | [1] | 336,307 | [2] | ' | ' |
Commercial Real Estate Loans [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | 3,050 | 3,894 | ' | ' | ||
Collectively Evaluated for Impairment | 5,277 | 5,017 | ' | ' | ||
Acquired with Deteriorated Credit Quality | 8 | 20 | ' | ' | ||
Total Ending Allowance Balance | 8,335 | 8,931 | 9,297 | 7,497 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | 6,344 | 7,550 | ' | ' | ||
Loans Collectively Evaluated for Impairment | 566,389 | 473,209 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 10,871 | 9,037 | 13,209 | ' | ||
Total Ending Loans Balance | 583,604 | [1] | 489,796 | [2] | ' | ' |
Agricultural Loans [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | ' | 150 | ' | ' | ||
Collectively Evaluated for Impairment | 946 | 839 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Allowance Balance | 946 | 989 | 926 | 750 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | ' | 2,423 | ' | ' | ||
Loans Collectively Evaluated for Impairment | 195,171 | 180,152 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Loans Balance | 195,171 | [1] | 182,575 | [2] | ' | ' |
Home Equity Loans [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Collectively Evaluated for Impairment | 239 | 141 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Allowance Balance | 239 | 141 | 258 | 220 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Loans Collectively Evaluated for Impairment | 81,812 | 74,699 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Loans Balance | 81,812 | [1] | 74,699 | [2] | ' | ' |
Consumer Loans [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Collectively Evaluated for Impairment | 188 | 214 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Allowance Balance | 188 | 214 | 190 | 362 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Loans Collectively Evaluated for Impairment | 49,131 | 41,083 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 134 | 148 | 164 | ' | ||
Total Ending Loans Balance | 49,265 | [1] | 41,231 | [2] | ' | ' |
Residential Mortgage Loans [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Collectively Evaluated for Impairment | 281 | 186 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Allowance Balance | 281 | 186 | 402 | 543 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Loans Collectively Evaluated for Impairment | 127,280 | 88,666 | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 1,767 | 149 | 152 | ' | ||
Total Ending Loans Balance | 129,047 | [1] | 88,815 | [2] | ' | ' |
Unallocated [Member] | ' | ' | ' | ' | ||
Allowance for Loan Losses: | ' | ' | ' | ' | ||
Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Collectively Evaluated for Impairment | 612 | 504 | ' | ' | ||
Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Allowance Balance | 612 | 504 | 746 | 232 | ||
Loans: | ' | ' | ' | ' | ||
Loans Individually Evaluated for Impairment | ' | ' | ' | ' | ||
Loans Collectively Evaluated for Impairment | ' | ' | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ' | ||
Total Ending Loans Balance | ' | [1] | ' | [2] | ' | ' |
[1] | Total recorded investment in loans includes $5,590 in accrued interest. | |||||
[2] | Total recorded investment in loans includes $5,522 in accrued interest. |
Loans_Schedule_of_Allowance_fo2
Loans (Schedule of Allowance for Loan Losses and Recorded Investment in Loans) (Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans [Abstract] | ' | ' |
Accrued interest | $5,590 | $5,522 |
Loans_Schedule_of_Loans_Indivi
Loans (Schedule of Loans Individually Evaluated for Impairment) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
With No Related Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | $6,873 | [1] | $6,546 | [1] | ' |
Recorded Investment | 4,455 | 4,378 | ' | ||
Average Recorded Investment | 4,863 | 5,293 | ' | ||
Interest Income Recognized | 279 | 23 | ' | ||
Cash Basis Recognized | 297 | 23 | ' | ||
With An Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 4,473 | [1] | 8,506 | [1] | ' |
Recorded Investment | 4,462 | 8,285 | ' | ||
Allowance for Loan Losses Allocated | 3,103 | 5,411 | ' | ||
Average Recorded Investment | 6,784 | 9,460 | ' | ||
Interest Income Recognized | 25 | 32 | ' | ||
Cash Basis Recognized | 21 | 27 | ' | ||
Unpaid Principal Balance | 11,346 | [1] | 15,052 | [1] | ' |
Recorded Investment | 8,917 | 12,663 | ' | ||
Average Recorded Investment | 11,647 | 14,753 | 18,596 | ||
Interest Income Recognized | 304 | 55 | 138 | ||
Cash Basis Recognized | 318 | 50 | 135 | ||
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
With No Related Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 2,163 | [1] | 108 | [1] | ' |
Recorded Investment | 2,072 | 87 | ' | ||
Average Recorded Investment | 1,192 | 252 | 1,107 | ||
Interest Income Recognized | 65 | 3 | 9 | ||
Cash Basis Recognized | 65 | 3 | 9 | ||
With An Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 45 | [1] | 2,642 | [1] | ' |
Recorded Investment | 45 | 2,581 | ' | ||
Allowance for Loan Losses Allocated | 45 | 1,347 | ' | ||
Average Recorded Investment | 1,360 | 2,726 | 3,642 | ||
Interest Income Recognized | 3 | 9 | 11 | ||
Cash Basis Recognized | 3 | 8 | 11 | ||
Commercial Real Estate Loans [Member] | ' | ' | ' | ||
With No Related Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 4,710 | [1] | 4,312 | [1] | ' |
Recorded Investment | 2,383 | 2,154 | ' | ||
Average Recorded Investment | 2,251 | 4,506 | 4,438 | ||
Interest Income Recognized | 5 | 18 | 75 | ||
Cash Basis Recognized | 7 | 18 | 75 | ||
With An Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 4,428 | [1] | 5,579 | [1] | ' |
Recorded Investment | 4,417 | 5,418 | ' | ||
Allowance for Loan Losses Allocated | 3,058 | 3,914 | ' | ||
Average Recorded Investment | 5,424 | 6,660 | 9,390 | ||
Interest Income Recognized | 22 | 23 | 37 | ||
Cash Basis Recognized | 18 | 19 | 34 | ||
Agricultural Loans [Member] | ' | ' | ' | ||
With No Related Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | ' | [1] | 2,126 | [1] | ' |
Recorded Investment | ' | 2,137 | ' | ||
Average Recorded Investment | 1,420 | 535 | 19 | ||
Interest Income Recognized | 209 | 2 | 6 | ||
Cash Basis Recognized | 225 | 2 | 6 | ||
With An Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | ' | [1] | 285 | [1] | ' |
Recorded Investment | ' | 286 | ' | ||
Allowance for Loan Losses Allocated | ' | 150 | ' | ||
Average Recorded Investment | ' | 74 | ' | ||
Interest Income Recognized | ' | ' | ' | ||
Cash Basis Recognized | ' | ' | ' | ||
Loans Acquired With Deteriorated Credit Quality [Member] | ' | ' | ' | ||
With No Related Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 987 | [1] | 45 | [1] | ' |
Recorded Investment | 451 | 25 | ' | ||
Average Recorded Investment | 30 | 26 | 28 | ||
Interest Income Recognized | 3 | 2 | 4 | ||
Cash Basis Recognized | 3 | 2 | 4 | ||
With An Allowance Recorded: | ' | ' | ' | ||
Unpaid Principal Balance | 33 | [1] | 155 | [1] | ' |
Recorded Investment | 8 | 118 | ' | ||
Allowance for Loan Losses Allocated | 8 | 88 | ' | ||
Average Recorded Investment | 142 | 154 | 77 | ||
Interest Income Recognized | 2 | 6 | 1 | ||
Cash Basis Recognized | $2 | $4 | $1 | ||
[1] | Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. |
Loans_Schedule_of_Recorded_Inv
Loans (Schedule of Recorded Investment in Nonaccrual Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | $8,378 | $10,357 |
Loans Past Due 90 Days or More & Still Accruing | 8 | ' |
Commercial and Industrial Loans and Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 31 | 2,480 |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Commercial Real Estate Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 6,658 | 7,275 |
Loans Past Due 90 Days or More & Still Accruing | 8 | ' |
Agricultural Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | ' | ' |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Home Equity Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 114 | 178 |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Consumer Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 236 | 167 |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Residential Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 1,339 | 257 |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Loans Acquired With Deteriorated Credit Quality [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual | 1,705 | 148 |
Loans Past Due 90 Days or More & Still Accruing | ' | ' |
Loans_Schedule_of_Aging_of_Rec
Loans (Schedule of Aging of Recorded Investment in Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | $1,390,802 | [1] | $1,213,423 | [2] |
30-59 Days Past Due | 3,589 | [1] | 4,508 | [2] |
60-89 Days Past Due | 431 | [1] | 713 | [2] |
90 Days or More Past Due | 3,565 | [1] | 2,964 | [2] |
Total Past Due | 7,585 | [1] | 8,185 | [2] |
Loans Not Past Due | 1,383,217 | [1] | 1,205,238 | [2] |
Commercial and Industrial Loans and Leases [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 351,903 | [1] | 336,307 | [2] |
30-59 Days Past Due | 256 | 436 | ||
60-89 Days Past Due | 78 | 133 | ||
90 Days or More Past Due | ' | 448 | ||
Total Past Due | 334 | 1,017 | ||
Loans Not Past Due | 351,569 | 335,290 | ||
Commercial Real Estate Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 583,604 | [1] | 489,796 | [2] |
30-59 Days Past Due | 613 | 1,352 | ||
60-89 Days Past Due | 62 | ' | ||
90 Days or More Past Due | 2,234 | 2,063 | ||
Total Past Due | 2,909 | 3,415 | ||
Loans Not Past Due | 580,695 | 486,381 | ||
Agricultural Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 195,171 | [1] | 182,575 | [2] |
30-59 Days Past Due | 62 | 42 | ||
60-89 Days Past Due | ' | 14 | ||
90 Days or More Past Due | ' | ' | ||
Total Past Due | 62 | 56 | ||
Loans Not Past Due | 195,109 | 182,519 | ||
Home Equity Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 81,812 | [1] | 74,699 | [2] |
30-59 Days Past Due | 303 | 177 | ||
60-89 Days Past Due | 33 | 48 | ||
90 Days or More Past Due | 114 | 178 | ||
Total Past Due | 450 | 403 | ||
Loans Not Past Due | 81,362 | 74,296 | ||
Consumer Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 49,265 | [1] | 41,231 | [2] |
30-59 Days Past Due | 149 | 431 | ||
60-89 Days Past Due | 66 | 23 | ||
90 Days or More Past Due | 102 | 18 | ||
Total Past Due | 317 | 472 | ||
Loans Not Past Due | 48,948 | 40,759 | ||
Residential Mortgage Loans [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 129,047 | [1] | 88,815 | [2] |
30-59 Days Past Due | 2,206 | 2,070 | ||
60-89 Days Past Due | 192 | 495 | ||
90 Days or More Past Due | 1,115 | 257 | ||
Total Past Due | 3,513 | 2,822 | ||
Loans Not Past Due | 125,534 | 85,993 | ||
Loans Acquired With Deteriorated Credit Quality [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Total Ending Loans Balance | 14,753 | 11,174 | ||
30-59 Days Past Due | 148 | ' | ||
60-89 Days Past Due | ' | 120 | ||
90 Days or More Past Due | 1,103 | ' | ||
Total Past Due | 1,251 | 120 | ||
Loans Not Past Due | $13,502 | $11,054 | ||
[1] | Total recorded investment in loans includes $5,590 in accrued interest. | |||
[2] | Total recorded investment in loans includes $5,522 in accrued interest. |
Loans_Schedule_of_Aging_of_Rec1
Loans (Schedule of Aging of Recorded Investment in Loans) (Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans [Abstract] | ' | ' |
Accrued interest | $5,590 | $5,522 |
Loans_Schedule_of_Recorded_Inv1
Loans (Schedule of Recorded Investment of Troubled Debt Restructurings) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | $6,417 | $8,492 | ||
Commercial and Industrial Loans and Leases [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 2,092 | 2,461 | ||
Commercial Real Estate Loans [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 4,325 | 6,031 | ||
Performing [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 2,450 | 370 | ||
Performing [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 2,086 | 66 | ||
Performing [Member] | Commercial Real Estate Loans [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 364 | 304 | ||
Non-Accrual [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 3,967 | [1] | 8,122 | [1] |
Non-Accrual [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | 6 | [1] | 2,395 | [1] |
Non-Accrual [Member] | Commercial Real Estate Loans [Member] | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Total | $3,961 | [1] | $5,727 | [1] |
[1] | The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on previous page. |
Loans_Schedule_of_Loans_Modifi
Loans (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | 2 | 2 | 10 |
Pre-Modification Outstanding Recorded Investment | $305 | $9 | $11,640 |
Post-Modification Outstanding Recorded Investment | 348 | 9 | 11,349 |
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | 1 | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | 224 | 9 | 4,541 |
Post-Modification Outstanding Recorded Investment | 230 | 9 | 4,499 |
Commercial Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | 1 | ' | 6 |
Pre-Modification Outstanding Recorded Investment | 81 | ' | 7,099 |
Post-Modification Outstanding Recorded Investment | $118 | ' | $6,850 |
Loans_Schedule_of_Troubled_Deb
Loans (Schedule of Troubled Debt Restructurings, Subsequently Defaulted) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | ' | 4 | 1 |
Recorded Investment | ' | $1,942 | $527 |
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | ' | 1 | 1 |
Recorded Investment | ' | 565 | 527 |
Commercial Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Loans | ' | 3 | ' |
Recorded Investment | ' | $1,377 | ' |
Loans_Schedule_of_Risk_Categor
Loans (Schedule of Risk Category of Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | $1,390,802 | [1] | $1,213,423 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 14,753 | 11,174 | 16,121 | ||
Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 351,903 | [1] | 336,307 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 1,981 | 1,840 | 2,596 | ||
Commercial Real Estate Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 583,604 | [1] | 489,796 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 10,871 | 9,037 | 13,209 | ||
Agricultural Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 195,171 | [1] | 182,575 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ||
Pass [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 3,121 | 319 | ' | ||
Pass [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 324,685 | 307,997 | ' | ||
Pass [Member] | Commercial Real Estate Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 539,533 | 446,639 | ' | ||
Pass [Member] | Agricultural Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 192,609 | 176,730 | ' | ||
Pass [Member] | Total [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 1,056,827 | 931,336 | ' | ||
Special Mention [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 661 | 3,220 | ' | ||
Special Mention [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 15,485 | 14,441 | ' | ||
Special Mention [Member] | Commercial Real Estate Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 20,168 | 21,338 | ' | ||
Special Mention [Member] | Agricultural Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 2,357 | 2,855 | ' | ||
Special Mention [Member] | Total [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 38,010 | 38,634 | ' | ||
Substandard [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | 9,070 | 7,338 | ' | ||
Substandard [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 11,733 | 13,869 | ' | ||
Substandard [Member] | Commercial Real Estate Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 23,903 | 21,819 | ' | ||
Substandard [Member] | Agricultural Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 205 | 2,990 | ' | ||
Substandard [Member] | Total [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 35,841 | 38,678 | ' | ||
Doubtful [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ||
Doubtful [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | ' | ' | ' | ||
Doubtful [Member] | Commercial Real Estate Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | ' | ' | ' | ||
Doubtful [Member] | Agricultural Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | ' | ' | ' | ||
Doubtful [Member] | Total [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | ' | ' | ' | ||
[1] | Total recorded investment in loans includes $5,590 in accrued interest. | ||||
[2] | Total recorded investment in loans includes $5,522 in accrued interest. |
Loans_Schedule_of_Recorded_Inv2
Loans (Schedule of Recorded Investment in Home Equity, Consumer and Residential Mortgage Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | $1,390,802 | [1] | $1,213,423 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 14,753 | 11,174 | 16,121 | ||
Home Equity Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 81,812 | [1] | 74,699 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' | ||
Consumer Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 49,265 | [1] | 41,231 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 134 | 148 | 164 | ||
Residential Mortgage Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 129,047 | [1] | 88,815 | [2] | ' |
Loans Acquired with Deteriorated Credit Quality | 1,767 | 149 | 152 | ||
Performing [Member] | Home Equity Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 81,698 | 74,521 | ' | ||
Performing [Member] | Consumer Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 49,029 | 41,064 | ' | ||
Performing [Member] | Residential Mortgage Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 127,708 | 88,558 | ' | ||
Nonperforming [Member] | Home Equity Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 114 | 178 | ' | ||
Nonperforming [Member] | Consumer Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | 236 | 167 | ' | ||
Nonperforming [Member] | Residential Mortgage Loans [Member] | ' | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ||
Total Ending Loans Balance | $1,339 | $257 | ' | ||
[1] | Total recorded investment in loans includes $5,590 in accrued interest. | ||||
[2] | Total recorded investment in loans includes $5,522 in accrued interest. |
Loans_Schedule_of_Financing_Re
Loans (Schedule of Financing Receivables Acquired) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | $79,575 |
Commercial and Industrial Loans and Leases [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | 6,399 |
Commercial Real Estate Loans [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | 47,021 |
Agricultural Loans [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | 769 |
Home Equity Loans [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | 4,536 |
Consumer Loans [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | 1,666 |
Residential Mortgage Loans [Member] | ' |
Accounts Notes and Loans Receivable [Line Items] | ' |
Purchases | $19,184 |
Loans_Schedule_of_Carrying_Amo
Loans (Schedule of Carrying Amount of Loans with Deterioration of Credit Quality) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | $14,753 | $11,174 | $16,121 |
Carrying amount, Net of Allowance | 14,745 | 11,086 | 16,044 |
Commercial and Industrial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | 1,981 | 1,840 | 2,596 |
Commercial Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | 10,871 | 9,037 | 13,209 |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | 134 | 148 | 164 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | 1,767 | 149 | 152 |
Home Equity Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans Acquired with Deteriorated Credit Quality | ' | ' | ' |
Loans_Schedule_of_Accretable_Y
Loans (Schedule of Accretable Yield, or Income Expected to be Collected) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance at January 1 | $170 | $967 | ' |
New Loans Purchased | 2,885 | ' | 2,042 |
Accretion of Income | -265 | -1,265 | -1,130 |
Reclassifications from Non-accretable Difference | ' | 468 | 129 |
Charge-off of Accretable Yield | ' | ' | -74 |
Balance at December 31 | $2,790 | $170 | $967 |
Loans_Schedule_of_Contractuall
Loans (Schedule of Contractually Required Payments Receivable of Purchased Loans with Deterioration of Credit Quality) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | $10,725 | ' | $24,505 |
Cash Flows Expected to be Collected at Acquisition | 7,642 | ' | 19,695 |
Fair Value of Acquired Loans at Acquisition | 6,252 | ' | 17,653 |
Commercial and Industrial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | 401 | ' | 4,542 |
Commercial Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | 6,640 | ' | 19,260 |
Home Equity Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | ' | ' | 28 |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | ' | ' | 217 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Contractually required payments | $3,684 | ' | $458 |
Loans_Schedule_of_Loans_to_Sha
Loans (Schedule of Loans to Shareholders Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Loans [Abstract] | ' |
Balance January 1, 2013 | $9,002 |
Additions | 5,426 |
Balance December 31, 2013 | 10,331 |
Changes In Persons Included | 1,290 |
Deductions, Collected | -5,387 |
Deductions, Charged-off | ' |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Increase in allowance for loan losses | $280,000 | ' | ' |
Loans Acquired With Deteriorated Credit Quality [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of loans restructured | ' | ' | ' |
Increase in allowance for loan losses | 0 | 88,000 | 77,000 |
Troubled Debt Restructuring [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Increase in allowance for loan losses | -210,000 | 0 | 1,945,000 |
Charge-offs due to troubled debt restructurings | 0 | 0 | 834,000 |
Additional lending amount committed for customer loans | 40,000 | ' | ' |
Subsequently Defaulted [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Charge-offs due to troubled debt restructurings | ' | $306,000 | ($500,000) |
Premises_Furniture_and_Equipme2
Premises, Furniture, and Equipment (Schedule of Premises, Furniture and Equipment) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises, Furniture and Equipment | $77,587 | $71,238 | ' |
Less: Accumulated Depreciation | -37,157 | -34,684 | ' |
Total | 40,430 | 36,554 | ' |
Depreciation expense | 2,910 | 2,941 | 3,261 |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises, Furniture and Equipment | 8,366 | 7,948 | ' |
Buildings and Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises, Furniture and Equipment | 47,677 | 43,706 | ' |
Furniture and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises, Furniture and Equipment | $21,544 | $19,584 | ' |
Premises_Furniture_and_Equipme3
Premises, Furniture, and Equipment (Schedule of Capital Leased Assets) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leases | $3,896 | $2,442 |
Less: Accumulated Depreciation | -483 | -344 |
Total | $3,413 | $2,098 |
Lease expiration date | 31-Dec-33 | ' |
Premises_Furniture_and_Equipme4
Premises, Furniture, and Equipment (Schedule of Future Minimum Lease Payments under Capitalized Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Premises, Furniture, and Equipment [Abstract] | ' |
2014 | $495 |
2015 | 495 |
2016 | 495 |
2017 | 495 |
2018 | 465 |
Thereafter | 6,216 |
Total minimum lease payments | 8,661 |
Less: Amount representing interest | -4,931 |
Present Value of Net Minimum Lease Payments | $3,730 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deposits [Abstract] | ' | ' |
2014 | $174,109,000 | ' |
2015 | 66,131,000 | ' |
2016 | 76,207,000 | ' |
2017 | 17,943,000 | ' |
2018 | 14,465,000 | ' |
Thereafter | 179,000 | ' |
Total | 349,034,000 | 329,183,000 |
Time Deposits, $100 or More | 124,673,000 | 95,761,000 |
Time deposits originated from outside the geographic area | $1,648,000 | $0 |
FHLB_Advances_and_Other_Borrow2
FHLB Advances and Other Borrowings (Schedule of Repurchase Agreements) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
FHLB Advances and Other Borrowings [Abstract] | ' | ' |
Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $71,483 | $51,526 |
Term Loans | 7,000 | 1,500 |
Junior Subordinated Debentures assumed from American Community Bancorp, Inc. | 5,024 | 4,874 |
Subordinated Debentures | ' | 29,250 |
Capital Lease Obligation | 3,730 | 2,322 |
Long-term Borrowings | 87,237 | 89,472 |
Overnight Variable Rate Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | 38,000 | 48,500 |
Federal Funds Purchased | ' | 5,400 |
Repurchase Agreements | 15,533 | 17,634 |
Short-term Borrowings | 53,533 | 71,534 |
Total Borrowings | $140,770 | $161,006 |
FHLB_Advances_and_Other_Borrow3
FHLB Advances and Other Borrowings (Schedule of Additional Collateral) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
FHLB Advances and Other Borrowings [Abstract] | ' | ' |
Average Daily Balance During the Year | $14,772 | $19,813 |
Average Interest Rate During the Year | 0.20% | 0.23% |
Maximum Month-end Balance During the Year | $17,722 | $24,220 |
Weighted Average Interest Rate at Year-end | 0.20% | 0.20% |
FHLB_Advances_and_Other_Borrow4
FHLB Advances and Other Borrowings (Scheduled Principal Payments on Long-Term Borrowings) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
FHLB Advances and Other Borrowings [Abstract] | ' |
2014 | $43,039 |
2015 | 24,042 |
2016 | 45 |
2017 | 749 |
2018 | 10,027 |
Thereafter | 581 |
Total | $78,483 |
FHLB_Advances_and_Other_Borrow5
FHLB Advances and Other Borrowings (Schedule of Issuance of Subordinated Debentures) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
ACB Trust I [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Date of Issuance | 6-May-05 | ' |
Issuance Amount | $5,155 | ' |
Carrying Amount at December 31 | 3,186 | ' |
Variable Rate | '90 day LIBOR + 2.15% | ' |
Rate as of December 31 | 2.40% | 2.46% |
Maturity Date | 31-May-35 | ' |
ACB Trust II [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Date of Issuance | 15-Jul-05 | ' |
Issuance Amount | 3,093 | ' |
Carrying Amount at December 31 | $1,838 | ' |
Variable Rate | '90 day LIBOR + 1.85% | ' |
Rate as of December 31 | 2.09% | 2.16% |
Maturity Date | 31-Jul-35 | ' |
FHLB_Advances_and_Other_Borrow6
FHLB Advances and Other Borrowings (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2009 | Dec. 31, 2012 |
Public Issue [Member] | Other Bank [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range from | 0.35% | 0.39% | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range to | 7.22% | 7.22% | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 0.95% | 2.07% | ' | ' |
Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities | $71,483 | $51,526 | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Conversion Features | ' | ' | ' | ' |
Of the $51.5 million, $30.0 million or 58% of the advances contained options whereby the FHLB may convert the fixed rate advance to an adjustable rate advance, at which time the Company may prepay the advance without penalty. | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 7,000 | 1,500 | ' | ' |
Line of Credit Facility, Expiration Date | 31-Dec-15 | ' | ' | ' |
Maturity Date | ' | ' | ' | 1-Jan-14 |
Line of Credit Facility, Frequency of Payment and Payment Terms | '90 days | '90 days | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | '90 days |
Line of Credit Facility, Interest Rate During Period | 2.88% | 3.00% | ' | ' |
Interest rate during period | ' | ' | ' | 1.35% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ' | ' | ' |
Subordinated Debentures | ' | 29,250 | 19,300 | 10,000 |
Tier Two Percentage Of Subordinated Debt | ' | 20.00% | ' | ' |
Subordinated Borrowing, Interest Rate | ' | 8.00% | 8.00% | ' |
Junior Subordinated Debt For Tier One Capital Purposes | $4,871 | $4,725 | ' | ' |
Shareholders_Equity_Schedule_o
Shareholders' Equity (Schedule of Consolidated and Affiliate Bank Actual Capital and Minimum Required Levels) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Consolidated Entities [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Amount of Total Capital (to Risk Weighted Assets) | $201,233 | $194,990 |
Actual Amount of Tier 1 Capital (to Risk Weighted Assets) | 186,649 | 158,198 |
Actual Amount of Tier 1 Capital (to Average Assets) | 186,649 | 158,198 |
Actual Ratio of Total Capital (to Risk Weighted Assets) | 13.07% | 13.70% |
Actual Ratio of Tier 1 Capital (to Risk Weighted Assets) | 12.12% | 11.12% |
Actual Ratio of Tier 1 Capital (to Average Assets) | 8.78% | 8.18% |
Minimum Required For Capital Adequacy Purposes: Amount, Total Capital | 123,189 | 113,859 |
Minimum Required For Capital Adequacy Purposes: Amount, Tier 1 Capital (to Risk Weighted Assets) | 61,594 | 56,930 |
Minimum Required For Capital Adequacy Purposes: Amount, Tier 1 Capital (to Average Assets) | 85,005 | 77,317 |
Minimum Required For Capital Adequacy Purposes: Ratio, Total Capital (to Risk Weighted Assets) | 8.00% | 8.00% |
Minimum Required For Capital Adequacy Purposes: Ratio, Tier 1 Capital (to Risk Weighted Assets) | 4.00% | 4.00% |
Minimum Required For Capital Adequacy Purposes: Ratio, Tier 1 Capital (to Average Assets) | 4.00% | 4.00% |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Total Capital (to Risk Weighted Assets) | ' | ' |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Tier 1 Capital (to Risk Weighted Assets) | ' | ' |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Tier 1 Capital (to Average Assets) | ' | ' |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Total Capital (to Risk Weighted Assets) | ' | ' |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Tier 1 Capital (to Risk Weighted Assets) | ' | ' |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Tier 1 Capital (to Average Assets) | ' | ' |
Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Amount of Total Capital (to Risk Weighted Assets) | 191,714 | 167,904 |
Actual Amount of Tier 1 Capital (to Risk Weighted Assets) | 177,130 | 152,384 |
Actual Amount of Tier 1 Capital (to Average Assets) | 177,130 | 152,384 |
Actual Ratio of Total Capital (to Risk Weighted Assets) | 12.46% | 11.83% |
Actual Ratio of Tier 1 Capital (to Risk Weighted Assets) | 11.51% | 10.74% |
Actual Ratio of Tier 1 Capital (to Average Assets) | 8.37% | 7.91% |
Minimum Required For Capital Adequacy Purposes: Amount, Total Capital | 123,099 | 113,523 |
Minimum Required For Capital Adequacy Purposes: Amount, Tier 1 Capital (to Risk Weighted Assets) | 61,550 | 56,762 |
Minimum Required For Capital Adequacy Purposes: Amount, Tier 1 Capital (to Average Assets) | 84,686 | 77,025 |
Minimum Required For Capital Adequacy Purposes: Ratio, Total Capital (to Risk Weighted Assets) | 8.00% | 8.00% |
Minimum Required For Capital Adequacy Purposes: Ratio, Tier 1 Capital (to Risk Weighted Assets) | 4.00% | 4.00% |
Minimum Required For Capital Adequacy Purposes: Ratio, Tier 1 Capital (to Average Assets) | 4.00% | 4.00% |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Total Capital (to Risk Weighted Assets) | 153,874 | 141,904 |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Tier 1 Capital (to Risk Weighted Assets) | 92,324 | 85,142 |
Minimum RequiredTo Be Well- Capitalized Under Prompt Corrective Action Regulations: Amount, Tier 1 Capital (to Average Assets) | $105,857 | $96,281 |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Total Capital (to Risk Weighted Assets) | 10.00% | 10.00% |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Tier 1 Capital (to Risk Weighted Assets) | 6.00% | 6.00% |
Minimum Required To Be Well- Capitalized Under Prompt Corrective Action Regulations: Ratio, Tier 1 Capital (to Average Assets) | 5.00% | 5.00% |
Shareholders_Equity_Summary_of
Shareholders' Equity (Summary of Stock Option Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Shareholders' Equity [Abstract] | ' |
Number of Options Outstanding at Beginning of Period | 79,917 |
Number of Options Granted | ' |
Number of Options Exercised | -8,300 |
Number of Options Forfeited | ' |
Number of Options Expired | -2,100 |
Number of Options Outstanding and Exercisable at End of Period | 69,517 |
Weighted Average Price of Options Outstanding at Beginning of Period | $16.73 |
Weighted Average Price of Options Granted | ' |
Weighted Average Price of Options Exercised | $17.35 |
Weighted Average Price of Options Forfeited | ' |
Weighted Average Price of Options Expired | $18.19 |
Weighted Average Price of Options Outstanding and Exercisable at End of Period | $16.61 |
Weighted Average Life of Options (in years) Outstanding and Exercisable at End of Period | '3 years 5 months 5 days |
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $821 |
Shareholders_Equity_Schedule_o1
Shareholders' Equity (Schedule of Stock Option Activity under Equity Incentive Plan) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Shareholders' Equity [Abstract] | ' | ' | ' |
Intrinsic Value of Options Exercised | $49 | $203 | $28 |
Weighted Average Fair Value of Options Granted | ' | ' | ' |
Tax Benefit of Options Exercises | $20 | $78 | $12 |
Cash Received from Option Exercises | ' | ' | ' |
Shareholders_Equity_Schedule_o2
Shareholders' Equity (Schedule of Restricted Stock And Cash Entitlements Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Shareholders' Equity [Abstract] | ' | ' | ' |
Restricted Stock Expense | $329 | $628 | $636 |
Cash Entitlement Expense | 217 | 588 | 564 |
Tax Effect | -221 | -493 | -475 |
Net of Tax | $325 | $723 | $725 |
Shareholders_Equity_Schedule_o3
Shareholders' Equity (Schedule of Restricted Stock Grants Outstanding) (Details) (Restricted Stock [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Number of Shares Outstanding at Beginning of Period | 4,983 |
Number of Shares Granted | 33,031 |
Number of Shares Issued and Vested | -14,620 |
Number of Shares Forfeited | -453 |
Number of Shares Outstanding at End of Period | 22,941 |
Weighted Average Market Price at Grant Outstanding at Beginning of Period | $22.07 |
Weighted Average Market Price at Grant Granted | $23.41 |
Weighted Average Market Price at Grant Issued and Vested | $22.57 |
Weighted Average Market Price at Grant Forfeited | $22.07 |
Weighted Average Market Price at Grant Outstanding at End of Period | $23.68 |
Shareholders_Equity_Narrative_
Shareholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 26, 2001 |
Retained Earnings, Unappropriated | $39,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 483,813 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 95.00% | ' | ' |
Common stock, authorized shares repurchase | 607,754 | ' | 607,754 |
Common stock, shares repurchased | 334,965 | ' | ' |
Restricted stock vesting percentage upon satisfaction of service requirement | 100.00% | ' | ' |
Restricted stock as a percent of grant | 50.00% | ' | ' |
Cash credit entitlements as a percent of grant | 50.00% | ' | ' |
Unrecognized expense related to restricted stock and cash entitlements | 942 | 101 | ' |
Stock option expiration period | '10 years | ' | ' |
Bank [Member] | ' | ' | ' |
Retained Earnings, Unappropriated | $39,000 | ' | ' |
Employee Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 500,000 | ' | ' |
Nonqualified Stock Options [Member] | ' | ' | ' |
Stock option expiration period | '20 years | ' | ' |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans (Schedule of Accumulated Plan Benefit Information) (Details) (Defined Benefit Pension Plan [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Pension Plan [Member] | ' | ' | ' |
Changes in Benefit Obligation: | ' | ' | ' |
Obligation at Beginning of Year | $837 | $734 | ' |
Interest Cost | 25 | 27 | 32 |
Benefits Paid | -33 | -33 | ' |
Lump Sum Benefits Paid | -809 | ' | ' |
Actuarial (Gain) Loss | -62 | 109 | ' |
Effect of Settlement/Curtailment | -42 | ' | ' |
Obligation at End of Year | ' | 837 | 734 |
Changes in Plan Assets: | ' | ' | ' |
Fair Value at Beginning of Year | 399 | 353 | ' |
Actual Return on Plan Assets | ' | 1 | ' |
Employer Contributions | 443 | 78 | ' |
Benefits Paid | -33 | -33 | ' |
Lump Sum Benefits Paid | -809 | ' | ' |
Fair Value at End of Year | ' | 399 | 353 |
Funded Status at End of Year | ' | -438 | ' |
Net Loss (Gain) | ' | 360 | ' |
Prior Service Cost | ' | 13 | ' |
Total | ' | $373 | ' |
Employee_Benefit_Plans_Compone
Employee Benefit Plans (Components of Net Periodic Benefit Cost Recognized in Other Comprehensive Income) (Details) (Defined Benefit Pension Plan [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Interest Cost | $25 | $27 | $32 |
Expected Return on Assets | -1 | -1 | -2 |
Amortization of Prior Service Cost | 1 | 1 | 1 |
Recognition of Net Loss | 46 | 30 | 31 |
Net Periodic Benefit Cost | 71 | 57 | 62 |
Total Recognized in Other Comprehensive Income | ' | ' | ' |
Net Loss (Gain) During the Period | -19 | 110 | 24 |
Amortization of Unrecognized Loss | -341 | -30 | -30 |
Amortization of Prior Service Cost | -13 | -1 | -1 |
Total Recognized in Net Postretirement Benefit Expense and Other Comprehensive Income | -373 | 79 | -7 |
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income | ($302) | $136 | $55 |
Employee_Benefit_Plans_Schedul1
Employee Benefit Plans (Schedule of Assumptions used in Determining Benefit Obligations) (Details) (Defined Benefit Pension Plan [Member]) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Defined Benefit Pension Plan [Member] | ' | ' | ' | |||
Weighted-average assumptions used to determine benefit obligations at year-end: | ' | ' | ' | |||
Discount Rate | ' | 3.25% | 3.75% | |||
Rate of Compensation Increase | ' | [1] | ' | [1] | ' | [1] |
Weighted-average assumptions used to determine net periodic pension cost: | ' | ' | ' | |||
Discount Rate | 3.25% | 3.75% | 4.60% | |||
Expected Return on Plan Assets | 0.25% | 0.25% | 0.50% | |||
Rate of Compensation Increase | ' | [1] | ' | [1] | ' | [1] |
[1] | Benefits under the plan were suspended in 1998; therefore, the weighted-average rate of increase in future compensation levels was not applicable for all years presented. |
Employee_Benefit_Plans_Schedul2
Employee Benefit Plans (Schedule of Asset Allocation of Retirement Plan) (Details) (Postretirement Medical and Life Benefit Plan [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postretirement Medical and Life Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Obligation at Beginning of Year | $691 | $624 | ' |
Unrecognized Loss (Gain) | -33 | 43 | ' |
Components of Net Periodic Postretirement Benefit Cost | ' | ' | ' |
Service Cost | 40 | 35 | 28 |
Interest Cost | 23 | 24 | 25 |
Net Expected Benefit Payments | -50 | -35 | ' |
Obligation at End of Year | $671 | $691 | $624 |
Employee_Benefit_Plans_Schedul3
Employee Benefit Plans (Schedule of Changes in Accumulated Postretirement Benefits Obligations) (Details) (Postretirement Medical and Life Benefit Plan [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postretirement Medical and Life Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service Cost | $40 | $35 | $28 |
Interest Cost | 23 | 24 | 25 |
Amortization of Unrecognized Net (Gain) Loss | 4 | ' | ' |
Net Periodic Benefit Cost | 67 | 59 | 53 |
Net Gain (Loss) During Period Recognized in Other Comprehensive Income | -37 | 42 | 57 |
Total Recognized in Net Postretirement Benefit Expense and Other Comprehensive Income | $30 | $101 | $110 |
Employee_Benefit_Plans_Schedul4
Employee Benefit Plans (Schedule of Assumptions used to Determine Net Periodic Cost and Benefit Obligations) (Details) (Other Postretirement Benefit Plan, Defined Benefit [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other Postretirement Benefit Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount Rate | 4.31% | 3.41% | 3.98% |
Employee_Benefit_Plans_Schedul5
Employee Benefit Plans (Schedule fo Assumption of Health Care Cost Trend Rates) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Benefit Plans [Abstract] | ' | ' |
Health Care Cost Trend Rate Assumed for Next Year | 8.00% | 8.00% |
Rate that the Cost Trend Rate Gradually Declines to | 5.00% | 4.50% |
Year that the Rate Reaches the Rate it is Assumed to Remain at | '2019 | '2019 |
Employee_Benefit_Plans_Schedul6
Employee Benefit Plans (Schedule of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Employee Benefit Plans [Abstract] | ' |
Effect on Total of Service and Interest Cost, One-Percentage-Point Increase | $6 |
Effect on Postretirement Benefit Obligation, One-Percentage-Point Increase | 41 |
Effect on Total of Service and Interest Cost, One-Percentage-Point Decrease | -5 |
Effect on Postretirement Benefit Obligation, One-Percentage-Point Decrease | ($37) |
Employee_Benefit_Plans_Schedul7
Employee Benefit Plans (Schedule of Expected Benefit Payments) (Details) (Postretirement Medical and Life Benefit Plan [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postretirement Medical and Life Benefit Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $39 |
2015 | 49 |
2016 | 49 |
2017 | 60 |
2018 | 63 |
2019-2023 | $383 |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
401(k) deferred compensation and profit sharing plan, company contributions | $882,000 | $777,000 | $717,000 |
Annual Losses Per Individual | 125,000 | ' | ' |
Charges to earnings for self-insurance reserve | 2,599,000 | 1,799,000 | 1,620,000 |
Defined benefit plan termination costs | 378,000 | ' | ' |
Certain Directors and Officers [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accrued benefits payable | 1,857,000 | 2,003,000 | ' |
Deferred compensation expense | 173,000 | 170,000 | 183,000 |
Certain Officers [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accrued benefits payable | 337,000 | 298,000 | ' |
Deferred compensation expense | $166,000 | $0 | $72,000 |
Income_Taxes_Provision_for_Inc
Income Taxes (Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Current Federal | $9,103 | $9,649 | $3,333 |
Current State | 648 | 568 | 184 |
Deferred Federal | 1,090 | 260 | 4,241 |
Deferred State | 623 | 192 | -32 |
Total Income Taxes | $11,464 | $10,669 | $7,726 |
Income_Taxes_Schedule_of_Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Statutory Rate Times Pre-tax Income | $12,907 | $12,153 | $9,791 |
Add (Subtract) the Tax Effect of: | ' | ' | ' |
Income from Tax-exempt Loans and Investments | -1,157 | -1,007 | -780 |
State Income Tax, Net of Federal Tax Effect | 826 | 494 | 99 |
General Business Tax Credits | -556 | -547 | -370 |
Company Owned Life Insurance | -338 | -341 | -385 |
Gain on United Commerce Bancorp Stock | -120 | ' | ' |
Gain on American Community Bancorp, Inc, Stock | ' | ' | -366 |
Other Differences | -98 | -83 | -263 |
Total Income Taxes | $11,464 | $10,669 | $7,726 |
Income_Taxes_Schedule_of_Net_D
Income Taxes (Schedule of Net Deferred Tax Liability) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets: | ' | ' |
Allowance for Loan Losses | $4,871 | $5,845 |
Unrealized Loss on Securities | 2,809 | ' |
Deferred Compensation and Employee Benefits | 1,136 | 1,282 |
Other-than-temporary Impairment | 388 | 443 |
Accrued Expenses | 601 | 646 |
Business Combination Fair Value Adjustments | 847 | ' |
Pension and Postretirement Plans | 35 | 195 |
Other Real Estate Owned | 288 | 140 |
Non-Accrual Loan Interest Income | 269 | 254 |
Net Operating Loss Carryforward | 224 | ' |
Other | 313 | 279 |
Total Deferred Tax Assets | 11,781 | 9,084 |
Deferred Tax Liabilities: | ' | ' |
Depreciation | -1,465 | -1,419 |
Leasing Activities, Net | -7,797 | -7,753 |
Unrealized Gain on Securities | ' | -5,915 |
FHLB Stock Dividends | -343 | -336 |
Prepaid Expenses | -492 | -516 |
Intangibles | -804 | -359 |
Deferred Loan Fees | -460 | -394 |
Business Combination Fair Value Adjustments | ' | -333 |
General Business Tax Credits | -23 | -7 |
Other | -330 | -255 |
Total Deferred Tax Liabilities | -11,714 | -17,287 |
Valuation Allowance | ' | -45 |
Net Deferred Tax Asset (Liability) | $67 | ($8,248) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Loss Carryforwards [Line Items] | ' | ' |
Cost for income tax purposes | $2,995 | ' |
Unrecorded deferred income tax liability | 1,048 | ' |
Federal and state carryforwards, limitations on use | 538 | ' |
Tax credit carryforward valuation allowance | ' | 45 |
State [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards, expiration | 31-Dec-26 | ' |
Net operating loss carryforwards | 1,420 | ' |
Federal [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carryforwards, expiration | 31-Dec-32 | ' |
Net operating loss carryforwards | $609 | ' |
Per_Share_Data_Computations_of
Per Share Data (Computations of Basic Earnings Per Share and Diluted Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic Earnings per Share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | $6,589 | $6,483 | $6,532 | $5,809 | $6,194 | $6,292 | $5,967 | $5,602 | $25,413 | $24,055 | $20,249 |
Weighted Average Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 12,786,065 | 12,622,049 | 12,581,646 |
Basic Earnings per Share | $0.50 | $0.51 | $0.52 | $0.46 | $0.49 | $0.50 | $0.47 | $0.44 | $1.99 | $1.91 | $1.61 |
Diluted Earnings per Share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | $6,589 | $6,483 | $6,532 | $5,809 | $6,194 | $6,292 | $5,967 | $5,602 | $25,413 | $24,055 | $20,249 |
Weighted Average Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 12,786,065 | 12,622,049 | 12,581,646 |
Stock Options, Net | ' | ' | ' | ' | ' | ' | ' | ' | 21,613 | 15,694 | 6,102 |
Diluted Weighted Average Shares Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 12,807,678 | 12,637,743 | 12,587,748 |
Diluted Earnings per Share | $0.50 | $0.51 | $0.52 | $0.46 | $0.49 | $0.50 | $0.47 | $0.44 | $1.98 | $1.90 | $1.61 |
Per_Share_Data_Narrative_Detai
Per Share Data (Narrative) (Details) (Stock Options [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | ' | ' | 89,276 |
Lease_Commitments_Details
Lease Commitments (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
2014 | $608 | ' | ' |
2015 | 511 | ' | ' |
2016 | 446 | ' | ' |
2017 | 259 | ' | ' |
2018 | 154 | ' | ' |
Thereafter | 1,508 | ' | ' |
Total | 3,486 | ' | ' |
Operating Leases, Rent Expense, Net | $558 | $486 | $413 |
Commitments_and_Offbalance_She2
Commitments and Off-balance Sheet Items (Summary of Commitments and Contingencies) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments To Sell Loans [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | $20,672 | $52,511 |
Variable Rate | ' | ' |
Standby Letters Of Credit [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | 1,515 | 1,408 |
Variable Rate | 5,262 | 4,279 |
Commitments To Fund Loans [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | 43,906 | 52,461 |
Variable Rate | 345,225 | 326,173 |
Commercial Lines [Member] | Commitments To Fund Loans [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | 23,717 | 13,444 |
Variable Rate | 199,231 | 187,829 |
Consumer Loan [Member] | Commitments To Fund Loans [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | 8,940 | 6,013 |
Variable Rate | 145,064 | 137,668 |
Residential Mortgage [Member] | Commitments To Fund Loans [Member] | ' | ' |
Commitments and Contingent Liabilities [Line Items] | ' | ' |
Fixed Rate | 11,249 | 33,004 |
Variable Rate | $930 | $676 |
Commitments_and_Offbalance_She3
Commitments and Off-balance Sheet Items (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Commitments and Contingent Liabilities [Line Items] | ' |
Loans and Leases Receivable Fixed Commitment Interest Rates | 2.15% |
Loans and Leases Receivable Fixed Commitment Maturity | '1 year |
Maximum [Member] | ' |
Commitments and Contingent Liabilities [Line Items] | ' |
Loans and Leases Receivable Fixed Commitment Interest Rates | 18.00% |
Loans and Leases Receivable Fixed Commitment Maturity | '32 years |
Fair_Value_Schedule_of_Assets_
Fair Value (Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Securities | $606,032 | $587,602 |
Loans Held-for-Sale | 9,265 | 16,641 |
Derivative Assets | 866 | 187 |
Derivative Liabilities | 737 | 178 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Securities | 606,032 | 587,602 |
Loans Held-for-Sale | 9,265 | 16,641 |
Derivative Assets | 866 | 187 |
Derivative Liabilities | 737 | 178 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury and Agency Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | 18,952 | 23,472 |
Fair Value, Measurements, Recurring [Member] | Corporate Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' |
Assets: | ' | ' |
Securities | 113,497 | 76,485 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities - Residential [Member] | ' | ' |
Assets: | ' | ' |
Securities | 473,230 | 486,912 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | 353 | 733 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | 380 |
Loans Held-for-Sale | ' | ' |
Derivative Assets | ' | ' |
Derivative Liabilities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury and Agency Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed Securities - Residential [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | 380 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets: | ' | ' |
Securities | 594,847 | 574,700 |
Loans Held-for-Sale | 9,265 | 16,641 |
Derivative Assets | 866 | 187 |
Derivative Liabilities | 737 | 178 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and Agency Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | 18,952 | 23,472 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' |
Assets: | ' | ' |
Securities | 102,665 | 64,316 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-backed Securities - Residential [Member] | ' | ' |
Assets: | ' | ' |
Securities | 473,230 | 486,912 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets: | ' | ' |
Securities | 11,185 | 12,522 |
Loans Held-for-Sale | ' | ' |
Derivative Assets | ' | ' |
Derivative Liabilities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury and Agency Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' |
Assets: | ' | ' |
Securities | 10,832 | 12,169 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed Securities - Residential [Member] | ' | ' |
Assets: | ' | ' |
Securities | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ' | ' |
Assets: | ' | ' |
Securities | $353 | $353 |
Fair_Value_Reconciliation_of_a
Fair Value (Reconciliation of all Assets Measured at Fair Value on a Recurring Basis) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning Balance of Recurring Level 3 Assets at January 1 | $12,169 | $4,075 |
Total Gains or Losses (realized/unrealized)Included in earnings | -332 | 156 |
Maturities / Calls | -1,005 | ' |
Purchases | ' | 7,938 |
Ending Balance of Recurring Level 3 Assets at December 31 | 10,832 | 12,169 |
Equity Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning Balance of Recurring Level 3 Assets at January 1 | 353 | 353 |
Total Gains or Losses (realized/unrealized)Included in earnings | ' | ' |
Maturities / Calls | ' | ' |
Purchases | ' | ' |
Ending Balance of Recurring Level 3 Assets at December 31 | 353 | 353 |
Corporate Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning Balance of Recurring Level 3 Assets at January 1 | ' | 1,005 |
Total Gains or Losses (realized/unrealized)Included in earnings | ' | ' |
Maturities / Calls | ' | -1,005 |
Purchases | ' | ' |
Ending Balance of Recurring Level 3 Assets at December 31 | ' | ' |
Fair_Value_Schedule_of_Assets_1
Fair Value (Schedule of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis) (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commercial and Industrial Loans and Leases [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | $1,231 |
Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | 1,346 | 1,497 |
Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | 20 | 150 |
Agricultural Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | 135 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | 1,231 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | 1,346 | 1,497 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | 20 | 150 |
Significant Unobservable Inputs (Level 3) [Member] | Agricultural Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | 135 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Agricultural Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Agricultural Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value Assets | ' | ' |
Fair_Value_Quantitative_Inform
Fair Value (Quantitative Information of Fair Value Measurements) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $20 | $150 |
Valuation Technique(s) | ' | ' |
Sales comparison approach | Sales comparison approach | |
Income approach Cost approach | Income approach Cost approach | |
Unobservable Input(s) | ' | ' |
Adjustment for physical condition of comparable properties sold | Adjustment for physical condition of comparable properties sold | |
Adjustment for net operating income generated by the property | Adjustment for net operating income generated by the property | |
Adjustment for investor rates of return | Adjustment for investor rates of return | |
(Weighted Average) | 50.00% | 70.00% |
Impaired Loans with Specific Allocations [Member] | Commercial and Industrial Loans and Leases [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | ' | 4.00% |
Impaired Loans with Specific Allocations [Member] | Commercial and Industrial Loans and Leases [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | ' | 68.00% |
Impaired Loans with Specific Allocations [Member] | Commercial and Industrial Loans and Leases [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | ' | 8.00% |
Impaired Loans with Specific Allocations [Member] | Commercial Real Estate Loans [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | 12.00% | 15.00% |
Impaired Loans with Specific Allocations [Member] | Commercial Real Estate Loans [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | 80.00% | 78.00% |
Impaired Loans with Specific Allocations [Member] | Commercial Real Estate Loans [Member] | Weighted Average [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
(Weighted Average) | 53.00% | 48.00% |
Impaired Loans with Specific Allocations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial and Industrial Loans and Leases [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | ' | 1,231 |
Valuation Technique(s) | ' | ' |
Sales comparison approach | ||
Unobservable Input(s) | ' | ' |
Adjustment for differences between the comparable sales | ||
Impaired Loans with Specific Allocations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 1,346 | 1,497 |
Valuation Technique(s) | ' | ' |
Sales comparison approach | Sales comparison approach | |
Income approach Cost approach | Income approach Cost approach | |
Unobservable Input(s) | ' | ' |
Adjustment for physical condition of comparable properties sold | Adjustment for physical condition of comparable properties sold | |
Adjustment for net operating income generated by the property | Adjustment for net operating income generated by the property | |
Adjustment for investor rates of return | Adjustment for investor rates of return | |
Impaired Loans with Specific Allocations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Agricultural Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | ' | $135 |
Valuation Technique(s) | ' | ' |
Sales comparison approach | ||
Income approach | ||
Unobservable Input(s) | ' | ' |
Adjustment for physical condition of comparable properties sold | ||
Adjustment for net operating income generated by the property | ||
(Weighted Average) | ' | 76.00% |
Fair_Value_Schedule_of_Carryin
Fair Value (Schedule of Carrying Amounts and Estimated Fair Values of Company's Financial Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Securities Held-to-Maturity | $268 | $346 |
FHLB Stock and Other Restricted Stock | 9,004 | 8,340 |
Loans, Net | 1,367,798 | 1,189,346 |
Accrued interest | 5,590 | 5,522 |
Financial Liabilities: | ' | ' |
Time Deposits | -349,034 | -329,183 |
Short-term Borrowings | -53,533 | -71,534 |
Long-term Debt | -87,237 | -89,472 |
Commitments to Extend Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Extend Credit [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Extend Credit [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Extend Credit [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Standby Letters of Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Standby Letters of Credit [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Standby Letters of Credit [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Standby Letters of Credit [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Sell Loans [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Sell Loans [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Sell Loans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Commitments to Sell Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Carrying Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and Short-term Investments | 60,232 | 51,794 |
Securities Held-to-Maturity | 268 | 346 |
FHLB Stock and Other Restricted Stock | 9,004 | 8,340 |
Loans, Net | 1,366,452 | 1,186,483 |
Accrued interest | 7,470 | 7,419 |
Financial Liabilities: | ' | ' |
Demand, Savings, and Money Market Deposits | -1,463,122 | -1,311,748 |
Time Deposits | -349,034 | -329,183 |
Short-term Borrowings | -53,533 | -71,534 |
Long-term Debt | -87,237 | -89,472 |
Accrued Interest Payable | -777 | -1,275 |
Carrying Value [Member] | Commitments to Extend Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Carrying Value [Member] | Standby Letters of Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Carrying Value [Member] | Commitments to Sell Loans [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, carrying value | ' | ' |
Fair Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and Short-term Investments | 60,232 | 51,794 |
Securities Held-to-Maturity | 271 | 351 |
FHLB Stock and Other Restricted Stock | ' | ' |
Loans, Net | 1,370,339 | 1,199,566 |
Accrued interest | 7,470 | 7,419 |
Financial Liabilities: | ' | ' |
Demand, Savings, and Money Market Deposits | -1,463,122 | -1,311,748 |
Time Deposits | -351,707 | -333,170 |
Short-term Borrowings | -53,533 | -71,534 |
Long-term Debt | -88,640 | -95,764 |
Accrued Interest Payable | -777 | -1,275 |
Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and Short-term Investments | 37,370 | 41,624 |
Securities Held-to-Maturity | ' | ' |
FHLB Stock and Other Restricted Stock | ' | ' |
Loans, Net | ' | ' |
Accrued interest | ' | ' |
Financial Liabilities: | ' | ' |
Demand, Savings, and Money Market Deposits | -1,463,122 | -1,311,748 |
Time Deposits | ' | ' |
Short-term Borrowings | ' | ' |
Long-term Debt | ' | ' |
Accrued Interest Payable | ' | ' |
Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and Short-term Investments | 22,862 | 10,170 |
Securities Held-to-Maturity | 271 | 351 |
FHLB Stock and Other Restricted Stock | ' | ' |
Loans, Net | ' | ' |
Accrued interest | 1,918 | 1,893 |
Financial Liabilities: | ' | ' |
Demand, Savings, and Money Market Deposits | ' | ' |
Time Deposits | -351,707 | -333,170 |
Short-term Borrowings | -53,533 | -71,534 |
Long-term Debt | -83,329 | -66,892 |
Accrued Interest Payable | -732 | -829 |
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and Short-term Investments | ' | ' |
Securities Held-to-Maturity | ' | ' |
FHLB Stock and Other Restricted Stock | ' | ' |
Loans, Net | 1,370,339 | 1,199,566 |
Accrued interest | 5,552 | 5,526 |
Financial Liabilities: | ' | ' |
Demand, Savings, and Money Market Deposits | ' | ' |
Time Deposits | ' | ' |
Short-term Borrowings | ' | ' |
Long-term Debt | -5,311 | -28,872 |
Accrued Interest Payable | -45 | -446 |
Fair Value [Member] | Commitments to Extend Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Fair Value [Member] | Standby Letters of Credit [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Fair Value [Member] | Commitments to Sell Loans [Member] | ' | ' |
Unrecognized Financial Instruments: | ' | ' |
Financial Instruments with Off-Balance Sheet Risk, fair value | ' | ' |
Fair_Value_Narrative_Details
Fair Value (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | $606,032 | $587,602 | ||
Investment securities held by the company | 606,032 | 587,602 | ||
Loan held for sale, at fair value | 9,265 | 16,641 | ||
Contractual principal balance of Loan held for sale | 9,129 | 16,413 | ||
Difference in amount of loan held for sale | 136 | 228 | ||
Impaired loans, carrying amount | 4,473 | [1] | 8,506 | [1] |
Valuation allowance for loans losses | 3,103 | 5,411 | ||
Other real estate, carrying value | 20 | 150 | ||
Cost of Real Estate Sales | 321 | 100 | ||
Other changes in fair value | -332 | 155 | ||
Impaired Loans with Specific Allocations [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Impaired loans, carrying amount | 4,449 | [1] | 8,274 | [1] |
Valuation allowance for loans losses | 3,103 | 5,411 | ||
Provision for Loan Losses | 1,024 | 2,230 | ||
Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | 606,032 | 587,602 | ||
Fair Value, Measurements, Recurring [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | 113,497 | 76,485 | ||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | 353 | 733 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | 11,185 | 12,522 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | 10,832 | 12,169 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities | $353 | $353 | ||
[1] | Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Interest Income | $18,388 | $17,192 | $16,712 | $16,225 | $16,594 | $16,393 | $16,649 | $16,612 | $68,517 | $66,248 | $63,981 |
Net Gains on Sales of Loans | ' | ' | ' | ' | ' | ' | ' | ' | 2,645 | 3,234 | 2,381 |
Net Gains on Securities | ' | ' | ' | ' | ' | ' | ' | ' | 2,429 | 1,667 | 3,024 |
Trust and Investment Product Fees | ' | ' | ' | ' | ' | ' | ' | ' | 3,358 | 2,657 | 2,145 |
Insurance Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 6,217 | 5,524 | 5,819 |
Noncash Items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | 350 | 2,412 | 6,800 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4,461 | 4,688 | 5,139 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 11,464 | 10,669 | 7,726 |
Segment Profit (Loss) | 6,589 | 6,483 | 6,532 | 5,809 | 6,194 | 6,292 | 5,967 | 5,602 | 25,413 | 24,055 | 20,249 |
Segment Assets | 2,163,827 | ' | ' | ' | 2,006,300 | ' | ' | ' | 2,163,827 | 2,006,300 | 1,873,767 |
Number of operating segments | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Core Banking [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 69,634 | 68,311 | 66,099 |
Net Gains on Sales of Loans | ' | ' | ' | ' | ' | ' | ' | ' | 2,645 | 3,234 | 2,381 |
Net Gains on Securities | ' | ' | ' | ' | ' | ' | ' | ' | 2,065 | 1,667 | 2,089 |
Trust and Investment Product Fees | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 5 | 3 |
Insurance Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 39 | 23 | 67 |
Noncash Items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | 350 | 2,412 | 6,800 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 3,944 | 4,099 | 4,481 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 12,387 | 11,999 | 9,171 |
Segment Profit (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 25,389 | 25,118 | 20,855 |
Segment Assets | 2,171,837 | ' | ' | ' | 2,006,992 | ' | ' | ' | 2,171,837 | 2,006,992 | 1,875,417 |
Number of offices | 36 | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' |
Trust and Investment Advisory Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 21 | 21 | 16 |
Net Gains on Sales of Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Gains on Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust and Investment Product Fees | ' | ' | ' | ' | ' | ' | ' | ' | 3,355 | 2,657 | 2,147 |
Insurance Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 36 | 13 |
Noncash Items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 24 | 26 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -32 | -187 | -353 |
Segment Profit (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -70 | -298 | -545 |
Segment Assets | 11,663 | ' | ' | ' | 11,551 | ' | ' | ' | 11,663 | 11,551 | 11,801 |
Insurance [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 34 | 22 |
Net Gains on Sales of Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Gains on Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust and Investment Product Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Insurance Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 6,147 | 5,465 | 5,755 |
Noncash Items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 339 | 415 | 482 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 320 | 181 | 272 |
Segment Profit (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 425 | 250 | 352 |
Segment Assets | 5,636 | ' | ' | ' | 8,333 | ' | ' | ' | 5,636 | 8,333 | 7,948 |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | -1,155 | -2,118 | -2,156 |
Net Gains on Sales of Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Gains on Securities | ' | ' | ' | ' | ' | ' | ' | ' | 364 | ' | 935 |
Trust and Investment Product Fees | ' | ' | ' | ' | ' | ' | ' | ' | -3 | -5 | -5 |
Insurance Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -16 |
Noncash Items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 150 | 150 | 150 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -1,211 | -1,324 | -1,364 |
Segment Profit (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -331 | -1,015 | -413 |
Segment Assets | ($25,309) | ' | ' | ' | ($20,576) | ' | ' | ' | ($25,309) | ($20,576) | ($21,399) |
Parent_Company_Financial_State2
Parent Company Financial Statements (Condensed Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Securities Available-for-Sale, at Fair Value | $606,032 | $587,602 | ' | ' |
Other Assets | 14,727 | 62,252 | ' | ' |
Total Assets | 2,163,827 | 2,006,300 | 1,873,767 | ' |
LIABILITIES | ' | ' | ' | ' |
Borrowings | 140,770 | 161,006 | ' | ' |
Total Liabilities | 1,963,730 | 1,821,274 | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Common Stock | 13,174 | 12,637 | ' | ' |
Additional Paid-in Capital | 108,022 | 95,617 | ' | ' |
Retained Earnings | 84,164 | 66,421 | ' | ' |
Accumulated Other Comprehensive Income (Loss) | -5,263 | 10,351 | ' | ' |
Total Shareholders' Equity | 200,097 | 185,026 | 167,610 | 121,534 |
Total Liabilities and Shareholders' Equity | 2,163,827 | 2,006,300 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash | 9,721 | 29,499 | ' | ' |
Securities Available-for-Sale, at Fair Value | 353 | 733 | ' | ' |
Investment in Subsidiary Bank | 195,480 | 184,093 | ' | ' |
Investment in Non-banking Subsidiaries | 3,650 | 4,064 | ' | ' |
Other Assets | 6,271 | 6,245 | ' | ' |
Total Assets | 215,475 | 224,634 | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Borrowings | 12,024 | 35,624 | ' | ' |
Other Liabilities | 3,354 | 3,984 | ' | ' |
Total Liabilities | 15,378 | 39,608 | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Common Stock | 13,174 | 12,637 | ' | ' |
Additional Paid-in Capital | 108,022 | 95,617 | ' | ' |
Retained Earnings | 84,164 | 66,421 | ' | ' |
Accumulated Other Comprehensive Income (Loss) | -5,263 | 10,351 | ' | ' |
Total Shareholders' Equity | 200,097 | 185,026 | ' | ' |
Total Liabilities and Shareholders' Equity | $215,475 | $224,634 | ' | ' |
Parent_Company_Financial_State3
Parent Company Financial Statements (Condensed Statements of Income and Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Gain on Securities | ' | ' | ' | ' | ' | ' | ' | ' | $2,429 | $1,667 | $3,024 |
EXPENSE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Salaries and Employee Benefits | ' | ' | ' | ' | ' | ' | ' | ' | 31,482 | 29,086 | 27,992 |
Professional Fees | ' | ' | ' | ' | ' | ' | ' | ' | 2,577 | 2,247 | 2,056 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,155 | 10,912 | 16,180 |
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | ' | ' | ' | ' | ' | ' | ' | ' | 36,877 | 34,724 | 27,975 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 11,464 | 10,669 | 7,726 |
NET INCOME | 6,589 | 6,483 | 6,532 | 5,809 | 6,194 | 6,292 | 5,967 | 5,602 | 25,413 | 24,055 | 20,249 |
Other Comprehensive Income (Loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive Loss | ' | ' | ' | ' | ' | ' | ' | ' | 9,799 | 23,863 | 25,892 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 50 | 38 |
Net Gain on Securities | ' | ' | ' | ' | ' | ' | ' | ' | 343 | ' | 935 |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 75 | 70 | 71 |
TOTAL INTEREST INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 15,949 | 17,620 | 24,894 |
EXPENSE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Salaries and Employee Benefits | ' | ' | ' | ' | ' | ' | ' | ' | 824 | 458 | 444 |
Professional Fees | ' | ' | ' | ' | ' | ' | ' | ' | 485 | 352 | 379 |
Occupancy and Equipment Expense | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 7 | 8 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,246 | 2,221 | 2,239 |
Other Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 615 | 359 | 357 |
Total Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,177 | 3,397 | 3,427 |
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | ' | ' | ' | ' | ' | ' | ' | ' | 12,772 | 14,223 | 21,467 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 1,235 | 1,338 | 1,364 |
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES | ' | ' | ' | ' | ' | ' | ' | ' | 14,007 | 15,561 | 22,831 |
Equity in Undistributed (Excess Distributed) Income of Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 11,406 | 8,494 | -2,582 |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 25,413 | 24,055 | 20,249 |
Other Comprehensive Income (Loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale | ' | ' | ' | ' | ' | ' | ' | ' | -15,874 | -124 | 5,677 |
Changes in Unrecognized Amounts in Pension, Net | ' | ' | ' | ' | ' | ' | ' | ' | 231 | -47 | 4 |
Changes in Unrecognized Loss on Postretirement Benefit Obligation, Net | ' | ' | ' | ' | ' | ' | ' | ' | 29 | -21 | -38 |
Comprehensive Loss | ' | ' | ' | ' | ' | ' | ' | ' | 9,799 | 23,863 | 25,892 |
Parent Company [Member] | Bank [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 14,000 | 17,500 | 22,500 |
Parent Company [Member] | Non Bank [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | $1,500 | ' | $1,350 |
Parent_Company_Financial_State4
Parent Company Financial Statements (Condensed Statements of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income | $25,413 | $24,055 | $20,249 |
Adjustments to Reconcile Net Income to Net Cash from Operations | ' | ' | ' |
Loss (Gain) on Securities, Net | -2,429 | -1,667 | -3,024 |
Change in Other Assets | 6,016 | 3,433 | 5,020 |
Change in Other Liabilities | -2,376 | 298 | -136 |
Equity Based Compensation | 329 | 628 | 635 |
Excess Tax Benefit from Restricted Share Grant | -28 | -23 | -37 |
Net Cash from Operating Activities | 41,646 | 41,997 | 26,616 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Net Cash from Investing Activities | -67,236 | -161,663 | -104,946 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 47,000 | 20,000 | ' |
Repayment of Long-term Debt | -49,379 | -21,569 | -6,549 |
Issuance of Common Stock | 20 | 37 | 12 |
Income Tax Benefit from Restricted Share Grant | 28 | 23 | 37 |
Employee Stock Purchase Plan | -9 | -67 | -25 |
Dividends Paid | -7,670 | -7,068 | -7,047 |
Net Cash from Financing Activities | 36,635 | 107,650 | 120,162 |
Net Change in Cash and Cash Equivalents | 11,045 | -12,016 | 41,832 |
Cash and Cash Equivalents at Beginning of Year | 49,087 | 61,103 | 19,271 |
Cash and Cash Equivalents at End of Year | 60,132 | 49,087 | 61,103 |
Parent Company [Member] | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net Income | 25,413 | 24,055 | 20,249 |
Adjustments to Reconcile Net Income to Net Cash from Operations | ' | ' | ' |
Loss (Gain) on Securities, Net | -343 | ' | -935 |
Change in Other Assets | 283 | 33 | 3,656 |
Change in Other Liabilities | -510 | 203 | -2,191 |
Equity Based Compensation | 329 | 628 | 635 |
Excess Tax Benefit from Restricted Share Grant | -28 | -23 | -37 |
Equity in Excess Distributed (Undistributed) Income of Subsidiaries | -11,406 | -8,494 | 2,582 |
Net Cash from Operating Activities | 13,738 | 16,402 | 23,959 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Capital Contribution to Subsidiaries | ' | -150 | ' |
Acquire Banking Entities | -2,135 | ' | -1,995 |
Net Cash from Investing Activities | -2,135 | -150 | -1,995 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from Issuance of Long-term Debt | 10,000 | ' | ' |
Repayment of Long-term Debt | -33,750 | -1,500 | -1,500 |
Issuance of Common Stock | 20 | 37 | 12 |
Income Tax Benefit from Restricted Share Grant | 28 | 23 | 37 |
Employee Stock Purchase Plan | -9 | -67 | -25 |
Dividends Paid | -7,670 | -7,068 | -7,047 |
Net Cash from Financing Activities | -31,381 | -8,575 | -8,523 |
Net Change in Cash and Cash Equivalents | -19,778 | 7,677 | 13,441 |
Cash and Cash Equivalents at Beginning of Year | 29,499 | 21,822 | 8,381 |
Cash and Cash Equivalents at End of Year | $9,721 | $29,499 | $21,822 |
Business_Combinations_Goodwill2
Business Combinations, Goodwill and Intangible Assets (Schedule of Consideration From Business Combinations) (Details) (United Commerce Bancorp [Member], USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Oct. 03, 2013 |
United Commerce Bancorp [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash for Options and Fractional Shares | $643 |
Cash paid for United Commerce shares | 1,391 |
Equity Instruments | 13,348 |
Fair Value of Total Consideration Transferred | $15,382 |
Business_Combinations_Goodwill3
Business Combinations, Goodwill and Intangible Assets (Schedule of Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Oct. 03, 2013 |
In Thousands, unless otherwise specified | United Commerce Bancorp [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Cash and Due From Banks | ' | ' | ' | ' | $430 |
Federal Funds Sold, Other Short-term Investments | ' | ' | ' | ' | 7,362 |
Interest-bearing Time Deposits with Banks | ' | ' | ' | ' | 100 |
Securities | ' | ' | ' | ' | 25,644 |
Loans | 79,575 | ' | ' | ' | 79,575 |
Premises, Furniture & Equipment | ' | ' | ' | ' | 1,718 |
Core Deposit Intangible | ' | ' | ' | ' | 2,052 |
Accrued Interest Receivable & Other Assets | ' | ' | ' | ' | 3,638 |
Deposits | ' | ' | ' | ' | -106,633 |
Accrued Interest Payable and Other Liabilities | ' | ' | ' | ' | -175 |
Total Identifiable Net Assets | ' | ' | ' | ' | 13,711 |
Goodwill | $20,536 | $18,865 | $18,865 | $9,835 | $1,671 |
Business_Combinations_Goodwill4
Business Combinations, Goodwill and Intangible Assets (Changes in Carrying Amount of Goodwill) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Combinations, Goodwill and Intangible Assets [Abstract] | ' | ' | ' |
Beginning of Year | $18,865 | $18,865 | $9,835 |
Acquired Goodwill | 1,671 | ' | 9,030 |
Impairment | ' | ' | ' |
End of Year | $20,536 | $18,865 | $18,865 |
Business_Combinations_Goodwill5
Business Combinations, Goodwill and Intangible Assets (Schedule of Acquired Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Business Acquisition [Line Items] | ' | ' |
Gross Amount | $14,460 | $12,408 |
Accumulated Amortization | 11,132 | 9,716 |
Core Banking [Member] | Core Deposit Intangible [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Gross Amount | 9,004 | 6,952 |
Accumulated Amortization | 5,815 | 4,665 |
Core Banking [Member] | Unidentified Branch Acquisition Intangible [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Gross Amount | 257 | 257 |
Accumulated Amortization | 257 | 257 |
Insurance [Member] | Customer List [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Gross Amount | 5,199 | 5,199 |
Accumulated Amortization | $5,060 | $4,794 |
Business_Combinations_Goodwill6
Business Combinations, Goodwill and Intangible Assets (Schedule of Estimated Amortization Expense) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimated amortization expense for each of the next five years is as follows: | ' |
2014 | $1,254 |
2015 | 790 |
2016 | 493 |
2017 | 323 |
2018 | $235 |
Business_Combinations_Goodwill7
Business Combinations, Goodwill and Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Oct. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
United Commerce Bancorp [Member] | Core Banking [Member] | Core Banking [Member] | Core Banking [Member] | Insurance [Member] | Insurance [Member] | Insurance [Member] | |||||
Rate | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated assets | $2,163,827 | $2,006,300 | $1,873,767 | ' | $119,700 | ' | ' | ' | $5,636 | $8,333 | $7,948 |
Consolidated equity | 200,097 | 185,026 | 167,610 | 121,534 | 13,700 | ' | ' | ' | ' | ' | ' |
Direct acquisition costs | ' | ' | ' | ' | 251 | ' | ' | ' | ' | ' | ' |
Goodwill | 20,536 | 18,865 | 18,865 | 9,835 | 1,671 | 19,204 | 17,533 | 17,533 | 1,332 | 1,332 | 1,332 |
Intangible assets acquired | ' | ' | ' | ' | 2,052 | ' | ' | ' | ' | ' | ' |
Amortization Period | ' | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | ' |
Shares issued in business combination | ' | ' | ' | ' | 503,000 | ' | ' | ' | ' | ' | ' |
Equity issued or issuable in bussiness combination, ratio | ' | ' | ' | ' | 0.5456 | ' | ' | ' | ' | ' | ' |
Outstanding common stock owned before merger | ' | ' | ' | ' | 44,100 | ' | ' | ' | ' | ' | ' |
Outstanding common stock owned before merger, percentage | ' | ' | ' | ' | 4.60% | ' | ' | ' | ' | ' | ' |
Share Price | ' | ' | ' | ' | $1.51 | ' | ' | ' | ' | ' | ' |
Cash paid for United Commerce shares | ' | ' | ' | ' | 1,391 | ' | ' | ' | ' | ' | ' |
Cash paid for United Commerce options | ' | ' | ' | ' | 643 | ' | ' | ' | ' | ' | ' |
Intangible Amortization | $1,416 | $1,655 | $1,956 | ' | ' | ' | ' | ' | ' | ' | ' |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Schedule of Other Comprehensive Income Components) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | $10,351 | ' | ' |
Other Comprehensive Income (Loss) Before Reclassification | -13,791 | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | -1,823 | ' | ' |
Net Current Period Other Comprehensive Income (Loss) | -15,614 | -192 | 5,643 |
Ending Balance | -5,263 | 10,351 | ' |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | 10,643 | ' | ' |
Other Comprehensive Income (Loss) Before Reclassification | -14,295 | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | -1,579 | ' | ' |
Net Current Period Other Comprehensive Income (Loss) | -15,874 | ' | ' |
Ending Balance | -5,231 | ' | ' |
Defined Benefit Penion Plans [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -231 | ' | ' |
Other Comprehensive Income (Loss) Before Reclassification | 453 | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | -222 | ' | ' |
Net Current Period Other Comprehensive Income (Loss) | 231 | ' | ' |
Ending Balance | ' | ' | ' |
Accumulated Postretirement Benefit Items [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning Balance | -61 | ' | ' |
Other Comprehensive Income (Loss) Before Reclassification | 51 | ' | ' |
Amounts Reclassified from Accumulated Other Comprehensive Income | -22 | ' | ' |
Net Current Period Other Comprehensive Income (Loss) | 29 | ' | ' |
Ending Balance | $32 | ' | ' |
Other_Comprehensive_Income_Los3
Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income Tax Expense | $11,464 | $10,669 | $7,726 |
Salaries and Employee Benefits | 31,482 | 29,086 | 27,992 |
Reclassified, Net of Tax | -1,823 | ' | ' |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Net (Gain) Loss on Securities | -2,429 | ' | ' |
Income Tax Expense | 850 | ' | ' |
Reclassified, Net of Tax | -1,579 | ' | ' |
Amortization of Defined Benefit Pension Items [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income Tax Expense | 151 | ' | ' |
Reclassified, Net of Tax | -222 | ' | ' |
Amortization of Defined Benefit Pension Items [Member] | Prior Service Cost [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Salaries and Employee Benefits | -13 | ' | ' |
Amortization of Defined Benefit Pension Items [Member] | Actuarial Gains (Losses) [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Salaries and Employee Benefits | -360 | ' | ' |
Amortization of Post Retirement Plan Items [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income Tax Expense | 15 | ' | ' |
Reclassified, Net of Tax | -22 | ' | ' |
Amortization of Post Retirement Plan Items [Member] | Actuarial Gains (Losses) [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Salaries and Employee Benefits | ($37) | ' | ' |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Data (Unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Income | $20,032 | $18,812 | $18,458 | $18,370 | $18,917 | $18,953 | $19,563 | $19,727 | $75,672 | $77,160 | $80,161 |
Net Interest Income | 18,388 | 17,192 | 16,712 | 16,225 | 16,594 | 16,393 | 16,649 | 16,612 | 68,517 | 66,248 | 63,981 |
Net Income | $6,589 | $6,483 | $6,532 | $5,809 | $6,194 | $6,292 | $5,967 | $5,602 | $25,413 | $24,055 | $20,249 |
Basic Earnings per Share | $0.50 | $0.51 | $0.52 | $0.46 | $0.49 | $0.50 | $0.47 | $0.44 | $1.99 | $1.91 | $1.61 |
Diluted Earnings per Share | $0.50 | $0.51 | $0.52 | $0.46 | $0.49 | $0.50 | $0.47 | $0.44 | $1.98 | $1.90 | $1.61 |