Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 01, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | GABC | |
Entity Common Stock, Shares Outstanding | 13,275,678 | |
Entity Registrant Name | GERMAN AMERICAN BANCORP, INC. | |
Entity Central Index Key | 714,395 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and Due from Banks | $ 39,998 | $ 33,481 |
Federal Funds Sold and Other Short-term Investments | 22,140 | 8,965 |
Cash and Cash Equivalents | 62,138 | 42,446 |
Interest-bearing Time Deposits with Banks | 100 | 100 |
Securities Available-for-Sale, at Fair Value | 625,144 | 630,995 |
Securities Held-to-Maturity, at Cost (Fair value of $95 and $186 on September 30, 2015 and December 31, 2014, respectively) | 95 | 184 |
Loans Held-for-Sale, at Fair Value | 6,410 | 6,311 |
Loans | 1,517,285 | 1,451,990 |
Less: Unearned Income | (3,705) | (4,008) |
Allowance for Loan Losses | (14,770) | (14,929) |
Loans, Net | 1,498,810 | 1,433,053 |
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost | 8,167 | 7,040 |
Premises, Furniture and Equipment, Net | 37,905 | 39,930 |
Other Real Estate | 123 | 356 |
Goodwill | 20,536 | 20,536 |
Intangible Assets | 1,443 | 2,074 |
Company Owned Life Insurance | 32,497 | 32,043 |
Accrued Interest Receivable and Other Assets | 19,842 | 22,031 |
TOTAL ASSETS | 2,313,210 | 2,237,099 |
LIABILITIES | ||
Non-interest-bearing Demand Deposits | 418,947 | 428,016 |
Interest-bearing Demand, Savings, and Money Market Accounts | 1,039,520 | 1,018,320 |
Time Deposits | 345,368 | 333,425 |
Total Deposits | 1,803,835 | 1,779,761 |
FHLB Advances and Other Borrowings | 239,072 | 206,064 |
Accrued Interest Payable and Other Liabilities | 22,951 | 22,450 |
TOTAL LIABILITIES | 2,065,858 | 2,008,275 |
SHAREHOLDERS’ EQUITY | ||
Preferred Stock, no par value; 500,000 shares authorized, no shares issued | 0 | 0 |
Common Stock, no par value, $1 stated value; 30,000,000 shares authorized | 13,273 | 13,216 |
Additional Paid-in Capital | 109,839 | 108,660 |
Retained Earnings | 119,656 | 104,058 |
Accumulated Other Comprehensive Income | 4,584 | 2,890 |
TOTAL SHAREHOLDERS’ EQUITY | 247,352 | 228,824 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 2,313,210 | $ 2,237,099 |
End of period shares issued (shares) | 13,273,349 | 13,215,800 |
End of period shares outstanding (shares) | 13,273,349 | 13,215,800 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Securities Held-to-Maturity, Fair value | $ 95 | $ 186 |
Preferred Stock, shares authorized (shares) | 500,000 | 500,000 |
Preferred Stock, shares issued (shares) | 0 | 0 |
Common Stock, stated value (USD per share) | $ 1 | $ 1 |
Common Stock, shares authorized (shares) | 30,000,000 | 30,000,000 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST INCOME | ||||
Interest and Fees on Loans | $ 16,702 | $ 16,680 | $ 49,538 | $ 48,766 |
Interest on Federal Funds Sold and Other Short-term Investments | 3 | 2 | 10 | 8 |
Interest and Dividends on Securities: | ||||
Taxable | 2,176 | 2,531 | 6,830 | 7,944 |
Non-taxable | 1,538 | 1,135 | 4,219 | 3,136 |
TOTAL INTEREST INCOME | 20,419 | 20,348 | 60,597 | 59,854 |
INTEREST EXPENSE | ||||
Interest on Deposits | 987 | 1,025 | 3,002 | 3,098 |
Interest on FHLB Advances and Other Borrowings | 573 | 532 | 1,481 | 1,448 |
TOTAL INTEREST EXPENSE | 1,560 | 1,557 | 4,483 | 4,546 |
NET INTEREST INCOME | 18,859 | 18,791 | 56,114 | 55,308 |
Provision for Loan Losses | (500) | 0 | 0 | 550 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 19,359 | 18,791 | 56,114 | 54,758 |
NON-INTEREST INCOME | ||||
Trust and Investment Product Fees | 1,051 | 901 | 2,974 | 2,728 |
Service Charges on Deposit Accounts | 1,237 | 1,300 | 3,594 | 3,552 |
Insurance Revenues | 1,752 | 1,739 | 5,812 | 5,777 |
Company Owned Life Insurance | 205 | 210 | 617 | 603 |
Interchange Fee Income | 547 | 508 | 1,593 | 1,467 |
Other Operating Income | 2,134 | 599 | 3,341 | 1,579 |
Net Gains on Sales of Loans | 831 | 613 | 2,364 | 1,475 |
Net Gains on Securities | 0 | 567 | 725 | 1,039 |
TOTAL NON-INTEREST INCOME | 7,757 | 6,437 | 21,020 | 18,220 |
NON-INTEREST EXPENSE | ||||
Salaries and Employee Benefits | 8,998 | 7,975 | 26,082 | 24,285 |
Occupancy Expense | 1,305 | 1,262 | 3,732 | 3,776 |
Furniture and Equipment Expense | 456 | 463 | 1,417 | 1,472 |
FDIC Premiums | 284 | 277 | 850 | 828 |
Data Processing Fees | 901 | 935 | 2,608 | 2,892 |
Professional Fees | 787 | 516 | 2,073 | 1,761 |
Advertising and Promotion | 2,198 | 613 | 3,125 | 1,635 |
Intangible Amortization | 183 | 302 | 630 | 975 |
Other Operating Expenses | 1,854 | 1,739 | 5,597 | 5,687 |
TOTAL NON-INTEREST EXPENSE | 16,966 | 14,082 | 46,114 | 43,311 |
Income before Income Taxes | 10,150 | 11,146 | 31,020 | 29,667 |
Income Tax Expense | 2,429 | 3,438 | 8,668 | 8,967 |
NET INCOME | $ 7,721 | $ 7,708 | $ 22,352 | $ 20,700 |
Basic Earnings Per Share (USD per share) | $ 0.58 | $ 0.58 | $ 1.69 | $ 1.57 |
Diluted Earnings Per Share (USD per share) | 0.58 | 0.58 | 1.69 | 1.57 |
Dividends Per Share (USD per share) | $ 0.17 | $ 0.16 | $ 0.51 | $ 0.48 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 7,721 | $ 7,708 | $ 22,352 | $ 20,700 |
Unrealized Gains (Losses) on Securities | ||||
Unrealized Holding Gain (Loss) Arising During the Period | 6,420 | 871 | 3,333 | 9,251 |
Reclassification Adjustment for Losses (Gains) Included in Net Income | 0 | (567) | (725) | (1,039) |
Tax Effect | (2,259) | (96) | (914) | (2,903) |
Net of Tax | 4,161 | 208 | 1,694 | 5,309 |
Total Other Comprehensive Income (Loss) | 4,161 | 208 | 1,694 | 5,309 |
COMPREHENSIVE INCOME | $ 11,882 | $ 7,916 | $ 24,046 | $ 26,009 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
NET INCOME | $ 22,352 | $ 20,700 |
Adjustments to Reconcile Net Income to Net Cash from Operating Activities: | ||
Net Amortization on Securities | 1,869 | 1,510 |
Depreciation and Amortization | 3,254 | 3,611 |
Loans Originated for Sale | (111,296) | (70,603) |
Proceeds from Sales of Loans Held-for-Sale | 113,472 | 73,696 |
Provision for Loan Losses | 0 | 550 |
Gain on Sale of Loans, net | (2,364) | (1,475) |
Gain on Securities, net | (725) | (1,039) |
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets | 53 | (46) |
Loss (Gain) on Disposition and Donation of Premises and Equipment | 389 | 28 |
Increase in Cash Surrender Value of Company Owned Life Insurance | (454) | (631) |
Equity Based Compensation | 737 | 482 |
Change in Assets and Liabilities: | ||
Interest Receivable and Other Assets | 2,278 | (4,708) |
Interest Payable and Other Liabilities | (412) | 2,214 |
Net Cash from Operating Activities | 29,153 | 24,289 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale | 71,026 | 62,892 |
Proceeds from Sales of Securities Available-for-Sale | 18,999 | 52,711 |
Purchase of Securities Available-for-Sale | (82,711) | (74,247) |
Proceeds from Maturities of Securities Held-to-Maturity | 89 | 84 |
Purchase of Federal Home Loan Bank Stock | (1,127) | (92) |
Purchase of Loans | (1,852) | (1,750) |
Loans Made to Customers, net of Payments Received | (64,708) | (49,436) |
Proceeds from Sales of Other Real Estate | 983 | 1,831 |
Property and Equipment Expenditures | (886) | (2,492) |
Proceeds from Sales of Property and Equipment | 0 | 23 |
Net Cash from Investing Activities | (60,187) | (10,476) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Change in Deposits | 24,085 | (47,658) |
Change in Short-term Borrowings | (1,993) | 66,977 |
Advances in Long-term Debt | 75,000 | 20,321 |
Repayments of Long-term Debt | (40,111) | (20,095) |
Issuance of Common Stock | 52 | 50 |
Employee Stock Purchase Plan | 447 | (37) |
Dividends Paid | (6,754) | (6,336) |
Net Cash from Financing Activities | 50,726 | 13,222 |
Net Change in Cash and Cash Equivalents | 19,692 | 27,035 |
Cash and Cash Equivalents at Beginning of Year | 42,446 | 60,132 |
Cash and Cash Equivalents at End of Period | 62,138 | 87,167 |
Cash Paid During the Year for | ||
Interest | 4,610 | 4,650 |
Income Taxes | 6,219 | 7,192 |
Supplemental Non Cash Disclosures | ||
Loans Transferred to Other Real Estate | 864 | 1,277 |
Securities Sold Pending Settlement | $ 0 | $ (3,323) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation German American Bancorp, Inc. operates primarily in the banking industry. The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries (hereinafter collectively referred to as the "Company") conform to U.S. generally accepted accounting principles. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the periods reported have been included in the accompanying unaudited consolidated financial statements, and all such adjustments are of a normal recurring nature. It is suggested that these consolidated financial statements and notes be read in conjunction with the financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. Certain items included in the prior period financial statements were reclassified to conform to the current presentation. There was no effect on net income or total shareholder’s equity based on these reclassifications. |
Per Share Data
Per Share Data | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Per Share Data | Per Share Data The computations of Basic Earnings per Share and Diluted Earnings per Share are as follows: Three Months Ended 2015 2014 Basic Earnings per Share: Net Income $ 7,721 $ 7,708 Weighted Average Shares Outstanding 13,265,893 13,210,395 Basic Earnings per Share $ 0.58 $ 0.58 Diluted Earnings per Share: Net Income $ 7,721 $ 7,708 Weighted Average Shares Outstanding 13,265,893 13,210,395 Potentially Dilutive Shares, Net 7,617 20,280 Diluted Weighted Average Shares Outstanding 13,273,510 13,230,675 Diluted Earnings per Share $ 0.58 $ 0.58 For the three months ended September 30, 2015 and 2014, there were no anti-dilutive shares. The computations of Basic Earnings per Share and Diluted Earnings per Share are as follows: Nine Months Ended 2015 2014 Basic Earnings per Share: Net Income $ 22,352 $ 20,700 Weighted Average Shares Outstanding 13,247,954 13,200,025 Basic Earnings per Share $ 1.69 $ 1.57 Diluted Earnings per Share: Net Income $ 22,352 $ 20,700 Weighted Average Shares Outstanding 13,247,954 13,200,025 Potentially Dilutive Shares, Net 7,556 20,975 Diluted Weighted Average Shares Outstanding 13,255,510 13,221,000 Diluted Earnings per Share $ 1.69 $ 1.57 For the nine months ended September 30, 2015 and 2014, there were no anti-dilutive shares. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Securities The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale at September 30, 2015 and December 31, 2014, were as follows: Securities Available-for-Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 U.S. Treasury and Agency Securities $ 10,000 $ — $ (30 ) $ 9,970 Obligations of State and Political Subdivisions 187,819 5,885 (362 ) 193,342 Mortgage-backed Securities - Residential 419,753 4,091 (2,365 ) 421,479 Equity Securities 353 — — 353 Total $ 617,925 $ 9,976 $ (2,757 ) $ 625,144 December 31, 2014 U.S. Treasury and Agency Securities $ 20,000 $ — $ (439 ) $ 19,561 Obligations of State and Political Subdivisions 147,321 6,515 (59 ) 153,777 Mortgage-backed Securities - Residential 458,709 3,615 (5,020 ) 457,304 Equity Securities 353 — — 353 Total $ 626,383 $ 10,130 $ (5,518 ) $ 630,995 Equity securities that do not have readily determinable fair values are included in the above totals, are carried at historical cost and are evaluated for impairment on a periodic basis. All mortgage-backed securities in the above table are residential mortgage-backed securities and guaranteed by government sponsored entities. The carrying amount, unrecognized gains and losses and fair value of Securities Held-to-Maturity at September 30, 2015 and December 31, 2014, were as follows: Securities Held-to-Maturity: Carrying Amount Gross Unrecognized Gains Gross Unrecognized Losses Fair Value September 30, 2015 Obligations of State and Political Subdivisions $ 95 $ — $ — $ 95 December 31, 2014 Obligations of State and Political Subdivisions $ 184 $ 2 $ — $ 186 The amortized cost and fair value of securities at September 30, 2015 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 in the table below. Securities Available-for-Sale: Amortized Cost Fair Value Due in one year or less $ 7,109 $ 7,213 Due after one year through five years 19,186 19,449 Due after five years through ten years 66,484 69,404 Due after ten years 105,040 107,246 Mortgage-backed Securities - Residential 419,753 421,479 Equity Securities 353 353 Total $ 617,925 $ 625,144 Securities Held-to-Maturity: Carrying Amount Fair Value Due in one year or less $ 95 $ 95 Due after one year through five years — — Due after five years through ten years — — Due after ten years — — Total $ 95 $ 95 Proceeds from the Sales of Securities are summarized below: Three Months Ended Three Months Ended September 30, 2015 September 30, 2014 Proceeds from Sales $ — $ 45,473 Gross Gains on Sales — 567 Income Taxes on Gross Gains — 198 Nine Months Ended Nine Months Ended September 30, 2015 September 30, 2014 Proceeds from Sales $ 18,999 $ 52,711 Gross Gains on Sales 725 1,039 Income Taxes on Gross Gains 254 364 Below is a summary of securities with unrealized losses as of September 30, 2015 and December 31, 2014, presented by length of time the securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or More Total September 30, 2015 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury and Agency Securities $ — $ — $ 9,970 $ (30 ) $ 9,970 $ (30 ) Obligations of State and Political Subdivisions 32,447 (356 ) 353 (6 ) 32,800 (362 ) Mortgage-backed Securities - Residential 50,786 (236 ) 136,030 (2,129 ) 186,816 (2,365 ) Equity Securities — — — — — — Total $ 83,233 $ (592 ) $ 146,353 $ (2,165 ) $ 229,586 $ (2,757 ) Less than 12 Months 12 Months or More Total December 31, 2014 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury and Agency Securities $ — $ — $ 19,561 $ (439 ) $ 19,561 $ (439 ) Obligations of State and Political Subdivisions 3,765 (25 ) 4,298 (34 ) 8,063 (59 ) Mortgage-backed Securities - Residential 26,606 (191 ) 209,679 (4,829 ) 236,285 (5,020 ) Equity Securities — — — — — — Total $ 30,371 $ (216 ) $ 233,538 $ (5,302 ) $ 263,909 $ (5,518 ) 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, which may be at maturity. 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. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | 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 $31.1 million at September 30, 2015 and $23.1 million at December 31, 2014. 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: September 30, 2015 December 31, 2014 Notional Amount Fair Value Notional Amount Fair Value Included in Other Assets: Interest Rate Swaps $ 31,068 $ 1,433 $ 23,104 $ 507 Included in Other Liabilities: Interest Rate Swaps $ 31,068 $ 1,462 $ 23,104 $ 508 The following tables present the effect of derivative instruments on the Consolidated Statements of Income for the periods presented: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest Rate Swaps: Included in Interest Income / (Expense) $ — $ — $ — $ — Included in Other Income / (Expense) 179 (4 ) 344 74 |
Loans
Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans | Loans Loans were comprised of the following classifications at September 30, 2015 and December 31, 2014: September 30, December 31, Commercial: Commercial and Industrial Loans and Leases $ 404,946 $ 380,079 Commercial Real Estate Loans 600,688 583,086 Agricultural Loans 236,619 216,774 Retail: Home Equity Loans 90,907 86,234 Consumer Loans 47,480 48,613 Residential Mortgage Loans 136,645 137,204 Subtotal 1,517,285 1,451,990 Less: Unearned Income (3,705 ) (4,008 ) Allowance for Loan Losses (14,770 ) (14,929 ) Loans, Net $ 1,498,810 $ 1,433,053 The following table presents the activity in the allowance for loan losses by portfolio class for the three months ending September 30, 2015 and 2014: September 30, 2015 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 4,659 $ 7,315 $ 1,223 $ 350 $ 382 $ 619 $ 710 $ 15,258 Provision for Loan Losses (337 ) (568 ) 754 (41 ) (105 ) (172 ) (31 ) (500 ) Recoveries 16 30 — 2 39 3 — 90 Loans Charged-off (5 ) — — (2 ) (71 ) — — (78 ) Ending Balance $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 $ 14,770 September 30, 2014 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 5,661 $ 7,199 $ 1,016 $ 418 $ 326 $ 435 $ 495 $ 15,550 Provision for Loan Losses (563 ) 206 156 (33 ) 77 (33 ) 190 — Recoveries 19 55 — — 41 6 — 121 Loans Charged-off — (6 ) — (7 ) (65 ) (1 ) — (79 ) Ending Balance $ 5,117 $ 7,454 $ 1,172 $ 378 $ 379 $ 407 $ 685 $ 15,592 The following table presents the activity in the allowance for loan losses by portfolio class for the nine months ending September 30, 2015 and 2014: September 30, 2015 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 4,627 $ 7,273 $ 1,123 $ 246 $ 354 $ 622 $ 684 $ 14,929 Provision for Loan Losses (350 ) (566 ) 854 88 (65 ) 44 (5 ) — Recoveries 83 81 — 8 193 14 — 379 Loans Charged-off (27 ) (11 ) — (33 ) (237 ) (230 ) — (538 ) Ending Balance $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 $ 14,770 September 30, 2014 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 3,983 $ 8,335 $ 946 $ 239 $ 188 $ 281 $ 612 $ 14,584 Provision for Loan Losses 1,124 (1,546 ) 226 148 296 229 73 550 Recoveries 97 785 — 42 127 14 — 1,065 Loans Charged-off (87 ) (120 ) — (51 ) (232 ) (117 ) — (607 ) Ending Balance $ 5,117 $ 7,454 $ 1,172 $ 378 $ 379 $ 407 $ 685 $ 15,592 In determining the adequacy of the allowance for loan loss, general allocations are made for other 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 historical averages for loan losses for these portfolios, judgmentally adjusted for current economic factors and portfolio trends. Overall the allowance for loan and lease losses was increased in the agricultural sector as a result of qualitative considerations for current economic conditions and trends. 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 table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of September 30, 2015 and December 31, 2014: September 30, 2015 Total Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Allowance for Loan Losses: Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment $ 1,688 $ 171 $ 1,517 $ — $ — $ — $ — $ — Collectively Evaluated for Impairment 13,082 4,162 5,260 1,977 309 245 450 679 Acquired with Deteriorated Credit Quality — — — — — — — — Total Ending Allowance Balance $ 14,770 $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 Loans: Loans Individually Evaluated for Impairment $ 6,116 $ 2,219 $ 3,885 $ 12 $ — $ — $ — n/m (2) Loans Collectively Evaluated for Impairment 1,510,330 403,027 592,735 239,660 91,178 47,602 136,128 n/m (2) Loans Acquired with Deteriorated Credit Quality 6,924 674 5,376 — — — 874 n/m (2) Total Ending Loans Balance (1) $ 1,523,370 $ 405,920 $ 601,996 $ 239,672 $ 91,178 $ 47,602 $ 137,002 n/m (2) (1) Total recorded investment in loans includes $6,085 in accrued interest. (2) n/m = not meaningful December 31, 2014 Total Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Allowance for Loan Losses: Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment $ 1,532 $ 87 $ 1,445 $ — $ — $ — $ — $ — Collectively Evaluated for Impairment 13,343 4,540 5,818 1,123 246 354 578 684 Acquired with Deteriorated Credit Quality 54 — 10 — — — 44 — Total Ending Allowance Balance $ 14,929 $ 4,627 $ 7,273 $ 1,123 $ 246 $ 354 $ 622 $ 684 Loans: Loans Individually Evaluated for Impairment $ 6,044 $ 1,964 $ 4,080 $ — $ — $ — $ — n/m (2) Loans Collectively Evaluated for Impairment 1,443,363 378,533 573,961 219,640 86,570 48,614 136,045 n/m (2) Loans Acquired with Deteriorated Credit Quality 8,361 354 6,385 — — 118 1,504 n/m (2) Total Ending Loans Balance (1) $ 1,457,768 $ 380,851 $ 584,426 $ 219,640 $ 86,570 $ 48,732 $ 137,549 n/m (2) (1) Total recorded investment in loans includes $5,778 in accrued interest. (2) n/m = not meaningful The following tables present loans individually evaluated for impairment by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Unpaid Principal Balance (1) Recorded Investment Allowance for Loan Losses Allocated With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 262 $ 259 $ — Commercial Real Estate Loans 1,081 962 — Agricultural Loans 12 12 — Subtotal 1,355 1,233 — With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,945 1,960 171 Commercial Real Estate Loans 3,584 2,923 1,517 Agricultural Loans — — — Subtotal 5,529 4,883 1,688 Total $ 6,884 $ 6,116 $ 1,688 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 530 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — (1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. December 31, 2014 Unpaid Principal Balance (1) Recorded Investment Allowance for Loan Losses Allocated With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 1,887 $ 1,877 $ — Commercial Real Estate Loans 1,944 1,447 — Agricultural Loans — — — Subtotal 3,831 3,324 — With An Allowance Recorded: Commercial and Industrial Loans and Leases 84 87 87 Commercial Real Estate Loans 3,653 2,975 1,455 Agricultural Loans — — — Subtotal 3,737 3,062 1,542 Total $ 7,568 $ 6,386 $ 1,542 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 289 $ 133 $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 759 $ 209 $ 10 (1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. The following tables present loans individually evaluated for impairment by class of loans for the three month period ended September 30, 2015 and 2014: September 30, 2015 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 366 $ 12 $ 12 Commercial Real Estate Loans 1,008 11 11 Agricultural Loans 12 1 1 Subtotal 1,386 24 24 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,974 22 22 Commercial Real Estate Loans 3,067 2 1 Agricultural Loans — — — Subtotal 5,041 24 23 Total $ 6,427 $ 48 $ 47 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 127 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — September 30, 2014 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 2,005 $ 29 $ 30 Commercial Real Estate Loans 2,384 18 21 Agricultural Loans — — — Subtotal 4,389 47 51 With An Allowance Recorded: Commercial and Industrial Loans and Leases 211 1 1 Commercial Real Estate Loans 2,643 4 3 Agricultural Loans — — — Subtotal 2,854 5 4 Total $ 7,243 $ 52 $ 55 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 773 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 31 $ 1 $ 1 The following tables present loans individually evaluated for impairment by class of loans for the nine month period ended September 30, 2015 and 2014: September 30, 2015 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 471 $ 24 $ 24 Commercial Real Estate Loans 1,228 92 92 Agricultural Loans 8 1 1 Subtotal 1,707 117 117 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,821 68 68 Commercial Real Estate Loans 3,093 3 2 Agricultural Loans — — — Subtotal 4,914 71 70 Total $ 6,621 $ 188 $ 187 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 237 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — September 30, 2014 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 2,106 $ 105 $ 107 Commercial Real Estate Loans 2,714 73 70 Agricultural Loans — — — Subtotal 4,820 178 177 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,600 1 1 Commercial Real Estate Loans 3,158 16 13 Agricultural Loans — — — Subtotal 4,758 17 14 Total $ 9,578 $ 195 $ 191 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 873 $ 3 $ 3 Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 32 $ 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 tables present the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of September 30, 2015 and December 31, 2014: Non-Accrual Loans Past Due 90 Days or More & Still Accruing 2015 2014 2015 2014 Commercial and Industrial Loans and Leases $ 680 $ 161 $ 10 $ 68 Commercial Real Estate Loans 3,077 3,460 — — Agricultural Loans — — — 75 Home Equity Loans 226 268 — — Consumer Loans 94 196 — — Residential Mortgage Loans 1,249 1,885 — — Total $ 5,326 $ 5,970 $ 10 $ 143 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 71 $ 1,154 $ — $ — The following tables present the aging of the recorded investment in past due loans by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Total 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Not Past Due Commercial and Industrial Loans and Leases $ 405,920 $ 444 $ 44 $ 68 $ 556 $ 405,364 Commercial Real Estate Loans 601,996 — 39 1,210 1,249 600,747 Agricultural Loans 239,672 — — — — 239,672 Home Equity Loans 91,178 364 45 226 635 90,543 Consumer Loans 47,602 409 60 94 563 47,039 Residential Mortgage Loans 137,002 2,138 210 1,104 3,452 133,550 Total (1) $ 1,523,370 $ 3,355 $ 398 $ 2,702 $ 6,455 $ 1,516,915 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 6,924 $ 36 $ — $ — $ 36 $ 6,888 (1) Total recorded investment in loans includes $6,085 in accrued interest. December 31, 2014 Total 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Not Past Due Commercial and Industrial Loans and Leases $ 380,851 $ 628 $ — $ 148 $ 776 $ 380,075 Commercial Real Estate Loans 584,426 504 10 753 1,267 583,159 Agricultural Loans 219,640 25 — 75 100 219,540 Home Equity Loans 86,570 197 4 268 469 86,101 Consumer Loans 48,732 132 28 75 235 48,497 Residential Mortgage Loans 137,549 2,046 329 1,720 4,095 133,454 Total (1) $ 1,457,768 $ 3,532 $ 371 $ 3,039 $ 6,942 $ 1,450,826 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 8,361 $ — $ — $ 648 $ 648 $ 7,713 (1) Total recorded investment in loans includes $5,778 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 three months ended September 30, 2015 and 2014, there were no new troubled debt restructurings. During the nine months ended September 30, 2015, there were no new troubled debt restructurings. During the nine months ended September 30, 2014, there was one loan modified as a troubled debt restructurings. The modification of the terms of this loan included a permanent reduction of the recorded investment in the loan. The following tables present the recorded investment of troubled debt restructurings by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Total Performing Non-Accrual (1) Commercial and Industrial Loans and Leases $ 1,541 $ 1,539 $ 2 Commercial Real Estate Loans 2,494 807 1,687 Total $ 4,035 $ 2,346 $ 1,689 December 31, 2014 Total Performing Non-Accrual (1) Commercial and Industrial Loans and Leases $ 1,809 $ 1,803 $ 6 Commercial Real Estate Loans 2,841 960 1,881 Total $ 4,650 $ 2,763 $ 1,887 (1) The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on previous page. The Company had not committed to lending any additional amounts as of September 30, 2015 and December 31, 2014 to customers with outstanding loans that are classified as troubled debt restructurings. The following tables present loans by class modified as troubled debt restructurings that occurred during the three months ending September 30, 2015 and 2014: September 30, 2015 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the three months ending September 30, 2015. September 30, 2014 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the three months ending September 30, 2014. The following tables present loans by class modified as troubled debt restructurings that occurred during the nine months ending September 30, 2015 and 2014: September 30, 2015 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the nine months ending September 30, 2015. September 30, 2014 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans 1 201 197 Total 1 $ 201 $ 197 The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the nine months ending September 30, 2014. 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 three months ending September 30, 2015 and 2014: Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2015 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 three months ending September 30, 2015. Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2014 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 186 Total 1 $ 186 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 three months ending September 30, 2014. 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 nine months ending September 30, 2015 and 2014: Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2015 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 95 Total 1 $ 95 The troubled debt restructurings that subsequently defaulted described above resulted in no change to the allowance for loan losses and charge-offs of $ 95 during the nine months ending September 30, 2015. Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2014 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 186 Total 1 $ 186 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 nine months ending September 30, 2014. 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: September 30, 2015 Pass Special Mention Substandard Doubtful Total Commercial and Industrial Loans and Leases $ 377,189 $ 16,682 $ 12,049 $ — $ 405,920 Commercial Real Estate Loans 565,396 23,879 12,721 — 601,996 Agricultural Loans 232,762 6,809 101 — 239,672 Total $ 1,175,347 $ 47,370 $ 24,871 $ — $ 1,247,588 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 926 $ 1,723 $ 3,401 $ — $ 6,050 December 31, 2014 Pass Special Mention Substandard Doubtful Total Commercial and Industrial Loans and Leases $ 351,250 $ 18,387 $ 11,214 $ — $ 380,851 Commercial Real Estate Loans 545,804 23,421 15,201 — 584,426 Agricultural Loans 214,974 4,211 455 — 219,640 Total $ 1,112,028 $ 46,019 $ 26,870 $ — $ 1,184,917 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 651 $ 1,697 $ 4,391 $ — $ 6,739 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 September 30, 2015 and December 31, 2014: September 30, 2015 Home Equity Loans Consumer Loans Residential Mortgage Loans Performing $ 90,952 $ 47,508 $ 135,753 Nonperforming 226 94 1,249 Total $ 91,178 $ 47,602 $ 137,002 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ — $ — $ 874 December 31, 2014 Home Equity Loans Consumer Loans Residential Mortgage Loans Performing $ 86,302 $ 48,536 $ 135,664 Nonperforming 268 196 1,885 Total $ 86,570 $ 48,732 $ 137,549 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ — $ 118 $ 1,504 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 is as follows: September 30, 2015 December 31, 2014 Commercial and Industrial Loans $ 674 $ 354 Commercial Real Estate Loans 5,376 6,385 Home Equity Loans — — Consumer Loans — 118 Residential Mortgage Loans 874 1,504 Total $ 6,924 $ 8,361 Carrying Amount, Net of Allowance $ 6,924 $ 8,307 Accretable yield, or income expected to be collected, is as follows: 2015 2014 Balance at July 1 $ 1,680 $ 1,126 New Loans Purchased — — Accretion of Income (251 ) (89 ) Reclassifications from Non-accretable Difference — — Charge-off of Accretable Yield — (113 ) Balance at September 30 $ 1,429 $ 924 2015 2014 Balance at January 1 $ 1,685 $ 1,279 New Loans Purchased — — Accretion of Income (333 ) (242 ) Reclassifications from Non-accretable Difference 104 — Charge-off of Accretable Yield (27 ) (113 ) Balance at September 30 $ 1,429 $ 924 For those purchased loans disclosed above, the Company did not increase the allowance for loan losses during the three and nine months ended September 30, 2015 and 2014. No allowances for loan losses were reversed during the same period. The carrying amount of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction totaled $123 as of September 30, 2015 and $288 as of December 31, 2014. |
Repurchase Agreements Accounted
Repurchase Agreements Accounted for as Secured Borrowings | 9 Months Ended |
Sep. 30, 2015 | |
Transfers and Servicing [Abstract] | |
Repurchase Agreements Accounted for as Secured Borrowings | Repurchase Agreements Accounted for as Secured Borrowings Repurchase agreements are short term borrowings included in FHLB Advances and Other Borrowings and mature overnight and continuously. Repurchase agreements totaled $ 17,079 as of September 30, 2015 and were secured by mortgage-backed securities. Risk could arise when the collateral pledged to repurchase agreement declines in fair value. The Company minimizes risk by consistently monitoring the value of the collateral pledged. At the point in time where the collateral has declined in fair value, the Company is required to provide additional collateral based on the value of the underlying securities. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | 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 37 banking offices at September 30, 2015. 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 the trust operations of the Company's banking subsidiary and by German American Investment Services, Inc. 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 the Company which are used by management to monitor and manage financial performance. 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. Core Banking Trust and Investment Advisory Services Insurance Other Consolidated Totals Three Months Ended September 30, 2015 Net Interest Income $ 18,961 $ — $ 2 $ (104 ) $ 18,859 Net Gains on Sales of Loans 831 — — — 831 Net Gains on Securities — — — — — Trust and Investment Product Fees 1 1,053 — (3 ) 1,051 Insurance Revenues 8 15 1,729 — 1,752 Noncash Items: Provision for Loan Losses (500 ) — — — (500 ) Depreciation and Amortization 980 2 27 38 1,047 Income Tax Expense (Benefit) 2,571 (1 ) 84 (225 ) 2,429 Segment Profit (Loss) 7,702 (14 ) 140 (107 ) 7,721 Segment Assets at September 30, 2015 2,307,765 1,493 7,410 (3,458 ) 2,313,210 Core Banking Trust and Investment Advisory Services Insurance Other Consolidated Totals Three Months Ended September 30, 2014 Net Interest Income $ 18,908 $ 4 $ 1 $ (122 ) $ 18,791 Net Gains on Sales of Loans 613 — — — 613 Net Gains on Securities 567 — — — 567 Trust and Investment Product Fees 2 899 — — 901 Insurance Revenues 15 22 1,702 — 1,739 Noncash Items: Provision for Loan Losses — — — — — Depreciation and Amortization 1,120 5 26 38 1,189 Income Tax Expense (Benefit) 3,496 (15 ) 147 (190 ) 3,438 Segment Profit (Loss) 7,540 (30 ) 216 (18 ) 7,708 Segment Assets at December 31, 2014 2,242,456 11,401 6,429 (23,187 ) 2,237,099 Core Trust and Investment Advisory Services Insurance Other Consolidated Totals Nine Months Ended September 30, 2015 Net Interest Income $ 56,402 $ 8 $ 4 $ (300 ) $ 56,114 Net Gains on Sales of Loans 2,364 — — — 2,364 Net Gains on Securities 698 — — 27 725 Trust and Investment Product Fees 3 2,974 — (3 ) 2,974 Insurance Revenues 19 33 5,760 — 5,812 Noncash Items: Provision for Loan Losses — — — — — Depreciation and Amortization 3,045 15 81 113 3,254 Income Tax Expense (Benefit) 8,709 (13 ) 576 (604 ) 8,668 Segment Profit (Loss) 21,650 (47 ) 874 (125 ) 22,352 Segment Assets at September 30, 2015 2,307,765 1,493 7,410 (3,458 ) 2,313,210 Core Trust and Investment Advisory Services Insurance Other Consolidated Totals Nine Months Ended September 30, 2014 Net Interest Income $ 55,655 $ 12 $ 3 $ (362 ) $ 55,308 Net Gains on Sales of Loans 1,475 — — — 1,475 Net Gains on Securities 1,039 — — — 1,039 Trust and Investment Product Fees 4 2,724 — — 2,728 Insurance Revenues 20 33 5,724 — 5,777 Noncash Items: Provision for Loan Losses 550 — — — 550 Depreciation and Amortization 3,395 18 85 113 3,611 Income Tax Expense (Benefit) 8,940 (122 ) 747 (598 ) 8,967 Segment Profit (Loss) 19,908 (202 ) 1,078 (84 ) 20,700 Segment Assets at December 31, 2014 2,242,456 11,401 6,429 (23,187 ) 2,237,099 |
Stock Repurchase Plan
Stock Repurchase Plan | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stock Repurchase 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 shares of common stock 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 September 30, 2015, the Company had purchased 334,965 shares under the program. No shares were purchased under the program during the three and nine months ended September 30, 2015 and 2014. |
Equity Plans and Equity Based C
Equity Plans and Equity Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Plans and Equity Based Compensation | 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 September 30, 2015, the Company has reserved 390,033 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. For the three and nine months ended September 30, 2015 and 2014, the Company granted no options. The Company recorded no stock compensation expense applicable to options during the three and nine months ended September 30, 2015 and 2014 because all outstanding options were fully vested prior to 2007. In addition, there was no unrecognized option expense. 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 60% restricted stock grants and 40% cash credit entitlements). The management and employee restricted stock grants and tandem cash credit entitlements awarded 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. Awards that were granted to directors as additional retainer for their services 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. During the three months ended September 30, 2015, the Company granted awards of 102 shares of restricted stock. During the three months ended September 30, 2014, the Company granted no shares of restricted stock. During the nine months ended September 30, 2015 and 2014, the Company granted awards of 33,480 and 31,080 shares of restricted stock, respectively. The following tables present expense recorded for restricted stock and cash entitlements as well as the related tax information for the periods presented: Three Months Ended September 30, 2015 2014 Restricted Stock Expense $ 227 $ 161 Cash Entitlement Expense 134 101 Tax Effect (146 ) (106 ) Net of Tax $ 215 $ 156 Nine Months Ended 2015 2014 Restricted Stock Expense $ 737 $ 482 Cash Entitlement Expense 438 300 Tax Effect (476 ) (317 ) Net of Tax $ 699 $ 465 Unrecognized expense associated with the restricted stock grants and cash entitlements totaled $1,808 and $1,616 as of September 30, 2015 and 2014, respectively. 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 $22 expense recorded for the employee stock purchase plan during the three and nine months ended September 30, 2015. There was no expense recorded for the employee stock purchase plan during the three and nine months ended September 30, 2014. There was no unrecognized compensation expense as of September 30, 2015 and 2014 for the Employee Stock Purchase Plan. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value | 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 September 30, 2015, the Company held $9.4 million in Level 3 securities which consist of $9.0 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 investor's 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 September 30, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: U.S. Treasury and Agency Securities $ — $ 9,970 $ — $ 9,970 Obligations of State and Political Subdivisions — 184,336 9,006 193,342 Mortgage-backed Securities-Residential — 421,479 — 421,479 Equity Securities — — 353 353 Total Securities $ — $ 615,785 $ 9,359 $ 625,144 Loans Held-for-Sale $ — $ 6,410 $ — $ 6,410 Derivative Assets $ — $ 1,433 $ — $ 1,433 Derivative Liabilities $ — $ 1,462 $ — $ 1,462 Fair Value Measurements at December 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: U.S. Treasury and Agency Securities $ — $ 19,561 $ — $ 19,561 Obligations of State and Political Subdivisions — 143,636 10,141 153,777 Mortgage-backed Securities-Residential — 457,304 — 457,304 Equity Securities — — 353 353 Total Securities $ — $ 620,501 $ 10,494 $ 630,995 Loans Held-for-Sale $ — $ 6,311 $ — $ 6,311 Derivative Assets $ — $ 507 $ — $ 507 Derivative Liabilities $ — $ 508 $ — $ 508 There were no transfers between Level 1 and Level 2 for the periods ended September 30, 2015 and December 31, 2014. At September 30, 2015, the aggregate fair value of the Loans Held-for-Sale was $6,410 , aggregate contractual principal balance was $6,290 with a difference of $120 . At December 31, 2014, the aggregate fair value of the Loans Held-for-Sale was $6,311 , aggregate contractual principal balance was $6,227 with a difference of $84 . 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 three and nine months ended September 30, 2015 and 2014: Obligations of State and Political Subdivisions Equity Securities 2015 2014 2015 2014 Balance of Recurring Level 3 Assets at July 1 $ 9,521 $ 10,562 $ 353 $ 353 Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income 25 (12 ) — — Maturities / Calls (540 ) (430 ) — — Purchases — — — — Balance of Recurring Level 3 Assets at September 30 $ 9,006 $ 10,120 $ 353 $ 353 Obligations of State and Political Subdivisions Equity Securities 2015 2014 2015 2014 Balance of Recurring Level 3 Assets at January 1 $ 10,141 $ 10,832 $ 353 $ 353 Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income (20 ) 143 — — Maturities / Calls (1,115 ) (855 ) — — Purchases — — — — Balance of Recurring Level 3 Assets at September 30 $ 9,006 $ 10,120 $ 353 $ 353 Of the total gain/loss included in other comprehensive income for the three and nine months ended September 30, 2015, $25 and $(20) , respectively, was attributable to other changes in fair value. The three and nine months ended September 30, 2015 included no gain/loss attributable to interest income on securities. Of the total gain/loss included in other comprehensive income for the three and nine months ended September 30, 2014, $(12) and $143 , respectively, was attributable to other changes in fair value. The three and nine months ended September 30, 2014 included no gain/loss attributable to interest income on securities. 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 September 30, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Impaired Loans Commercial and Industrial Loans $ — $ — $ 426 $ 426 Commercial Real Estate Loans — — 1,386 1,386 Agricultural Loans — — — — Other Real Estate Commercial Real Estate — — — — Fair Value Measurements at December 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Impaired Loans Commercial and Industrial Loans $ — $ — $ — $ — Commercial Real Estate Loans — — 1,504 1,504 Agricultural Loans — — — — Other Real Estate Commercial Real Estate — — 68 68 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $3,467 with a valuation allowance of $1,655 , resulting in an additional provision for loan losses of $78 and $113 for the three and nine months ended September 30, 2015, respectively. For the three and nine months ended September 30, 2014, impaired loans resulted in an additional provision for loan losses of $30 and $187 , respectively. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $3,043 with a valuation allowance of $1,539 , resulting in an additional provision for loan losses of $261 for the year ended December 31, 2014. There was no Other Real Estate carried at fair value less costs to sell at September 30, 2015. No charge to earnings was included in the three or nine months ended September 30, 2015. A charge to earnings through Other Operating Income of $ 83 was included in the three and nine months ended September 30, 2014. Other Real Estate which is measured at the lower of carrying or fair value less costs to sell had a carrying value of $68 at December 31, 2014. The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014: September 30, 2015 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired Loans - Commercial and Industrial Loans $ 426 Sales comparison approach Adjustment for physical condition of comparable properties sold 100%-69% (69%) Impaired Loans - Commercial Real Estate Loans $ 1,386 Sales comparison approach Adjustment for physical condition of comparable properties sold 93%-30% (74%) December 31, 2014 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired Loans - Commercial Real Estate Loans $ 1,504 Sales comparison approach Adjustment for physical condition of comparable properties sold 30%-86% (71%) Other Real Estate - Commercial Real Estate Loans $ 68 Sales comparison approach Adjustment for physical condition of comparable properties sold 55% (55%) The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending September 30, 2015 and December 31, 2014. 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 September 30, 2015 Using Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and Short-term Investments $ 62,238 $ 39,998 $ 22,240 $ — $ 62,238 Securities Held-to-Maturity 95 — 95 — 95 Loans, Net 1,496,998 — — 1,500,221 1,500,221 FHLB Stock and Other Restricted Stock 8,167 N/A N/A N/A N/A Accrued Interest Receivable 8,978 — 2,819 6,159 8,978 Financial Liabilities: Demand, Savings, and Money Market Deposits (1,458,467 ) (1,458,467 ) — — (1,458,467 ) Time Deposits (345,368 ) — (345,415 ) — (345,415 ) Short-term Borrowings (139,479 ) — (139,479 ) — (139,479 ) Long-term Debt (99,593 ) — (95,393 ) (5,513 ) (100,906 ) Accrued Interest Payable (627 ) — (620 ) (7 ) (627 ) Fair Value Measurements at December 31, 2014 Using Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and Short-term Investments $ 42,546 $ 33,481 $ 9,065 $ — $ 42,546 Securities Held-to-Maturity 184 — 186 — 186 Loans, Net 1,431,549 — — 1,432,622 1,432,622 FHLB Stock and Other Restricted Stock 7,040 N/A N/A N/A N/A Accrued Interest Receivable 8,162 — 2,240 5,922 8,162 Financial Liabilities: Demand, Savings, and Money Market Deposits (1,446,336 ) (1,446,336 ) — — (1,446,336 ) Time Deposits (333,425 ) — (335,134 ) — (335,134 ) Short-term Borrowings (141,473 ) — (141,473 ) — (141,473 ) Long-term Debt (64,591 ) — (60,289 ) (5,429 ) (65,718 ) Accrued Interest Payable (754 ) — (704 ) (50 ) (754 ) 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 carried at fair value, 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 analysis, 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. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The tables below summarize the changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 and 2014, net of tax: September 30, 2015 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at July 1, 2015 $ 491 $ — $ (68 ) $ 423 Other Comprehensive Income (Loss) Before Reclassification 4,161 — — 4,161 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — — — — Net Current Period Other Comprehensive Income (Loss) 4,161 — — 4,161 Ending Balance at September 30, 2015 $ 4,652 $ — $ (68 ) $ 4,584 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at January 1, 2015 $ 2,958 $ — $ (68 ) $ 2,890 Other Comprehensive Income (Loss) Before Reclassification 2,165 — — 2,165 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (471 ) — — (471 ) Net Current Period Other Comprehensive Income (Loss) 1,694 — — 1,694 Ending Balance at September 30, 2015 $ 4,652 $ — $ (68 ) $ 4,584 September 30, 2014 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at July 1, 2014 $ (130 ) $ — $ (32 ) $ (162 ) Other Comprehensive Income (Loss) Before Reclassification 577 — — 577 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (369 ) — — (369 ) Net Current Period Other Comprehensive Income (Loss) 208 — — 208 Ending Balance at September 30, 2014 $ 78 $ — $ (32 ) $ 46 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at January 1, 2014 $ (5,231 ) $ — $ (32 ) $ (5,263 ) Other Comprehensive Income (Loss) Before Reclassification 5,984 — — 5,984 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (675 ) — — (675 ) Net Current Period Other Comprehensive Income (Loss) 5,309 — — 5,309 Ending Balance at September 30, 2014 $ 78 $ — $ (32 ) $ 46 The tables below summarize the reclassifications out of accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 and 2014: Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ — Net Gain (Loss) on Securities — Income Tax Expense — Net of Tax Total Reclassifications for the Three Months Ended September 30, 2015 $ — Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 725 Net Gain (Loss) on Securities (254 ) Income Tax Expense 471 Net of Tax Total Reclassifications for the Nine Months Ended September 30, 2015 $ 471 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 567 Net Gain (Loss) on Securities (198 ) Income Tax Expense 369 Net of Tax Total Reclassifications for the Three Months Ended September 30, 2014 $ 369 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 1,039 Net Gain (Loss) on Securities (364 ) Income Tax Expense 675 Net of Tax Total Reclassifications for the Nine Months Ended September 30, 2014 $ 675 |
Newly Issued Accounting Pronoun
Newly Issued Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Newly Issued Accounting Pronouncements | Newly Issued Accounting Pronouncements In January 2014, the FASB amended existing guidance clarifying that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This update did not have a material impact on the Company's consolidated financial statements. In January 2014, the FASB issued guidance for accounting for investments in qualified affordable housing projects. The new guidance allows a limited liability investor that meets certain conditions to use the proportional amortization methods. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The Company adopted the proportional amortization method of accounting for its low income housing investments in the first quarter of 2015. The Company quantified the impact of adopting the proportional amortization method compared to the equity method to its current year and prior period financial statements. The Company determined that the adoption of the proportional amortization method did not have a material impact to its consolidated financial statements; therefore, the Company did not adjust its prior period consolidated financial statements. The low income housing investment losses, net of the tax benefits received, are included in income tax expense on the consolidated statements of income for the three and nine months ended September 30, 2015. At September 30, 2015 and December 31, 2014, the Company had investments in qualified housing projects totaling $5.8 million and $6.1 million , respectively. These investments are reported in the Accrued Interest Receivable and Other Assets line of the Consolidated Balance Sheet. The Company had an unfunded investment in qualified affordable housing investments of $4.4 million at September 30, 2015 and $4.8 million at December 31, 2014, which are reported in the Accrued Interest Payable and Other Liabilities line of the Consolidated Balance Sheet. For the three months ended September 30, 2015, the Company recognized $42 of low income housing investment tax credit through the income tax line of the Consolidated Statements of Income. The Company recognized $38 of low income housing investment losses net of tax credits during nine months ended September 30, 2015 through the income tax line of the Consolidated Statements of Income. Of this amount, $161 was due to the adoption of the proportional amortization method. For the third quarter and nine months ended September 30, 2014, the Company recognized $22 and $65 in the Other Operating Expense line, respectively, and $35 and $105 benefit in the Income Tax Expense line, respectively, of the Consolidated Statements of Income. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On October 26, 2015 the Company entered into a definitive agreement to acquire River Valley Bancorp (“RIVR”), through the merger of RIVR with and into the Company, and the merger of RIVR’s sole banking subsidiary, River Valley Financial Bank, into the Company’s subsidiary bank, German American Bancorp. River Valley Bank operates 14 banking offices in Southeast Indiana. RIVR’s assets and equity (unaudited) as of September 30, 2015 totaled $513.7 million and $55.6 million , respectively. Net income (unaudited) totaled $4.3 million for the nine month period ended September 30, 2015. Under the terms of the proposed merger, the shareholders of RIVR would receive 0.770 shares of common stock of the Company and $9.90 of cash for each of their RIVR shares. Based upon the $30.02 per share 20 -day volume weighted average price of the Company’s common shares on October 22, 2015 (the valuation upon which the exchange ratio was established) the transaction had a present indicated value of approximately $33.00 per RIVR common share. Because the value of the transaction to holders of RIVR common shares as of any future date will in large part be a function of the then-current market price of the Company’s common stock, the transaction value is expected to vary over the period of time prior to and at closing in the same direction as the market price of the Company’s common shares varies over that same time period. Based on RIVR’s number of common shares outstanding at the time of entering into the definitive agreement, the Company expects to issue approximately 1.94 million shares of its common stock, and pay approximately $25 million in cash, in exchange for all of the issued and outstanding common shares of RIVR. On this basis, the basic transaction has an aggregate indicated value (valuing the German American’s common shares at the 20 -day volume weighted average price ending on October 22, 2015, NASDAQ closing price) of approximately $83.5 million . The basic transaction value also includes approximately $500,000 in cash payments to be made in cancellation of stock options. The proposed merger is subject to the approval by shareholders of RIVR, approval of the appropriate bank regulatory agencies and other conditions customary for transactions of this nature. It is contemplated that the merger will be consummated in the first quarter of 2016. |
Newly Issued Accounting Prono20
Newly Issued Accounting Pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Newly Issued Accounting Pronouncements | Newly Issued Accounting Pronouncements In January 2014, the FASB amended existing guidance clarifying that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This update did not have a material impact on the Company's consolidated financial statements. In January 2014, the FASB issued guidance for accounting for investments in qualified affordable housing projects. The new guidance allows a limited liability investor that meets certain conditions to use the proportional amortization methods. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The Company adopted the proportional amortization method of accounting for its low income housing investments in the first quarter of 2015. The Company quantified the impact of adopting the proportional amortization method compared to the equity method to its current year and prior period financial statements. The Company determined that the adoption of the proportional amortization method did not have a material impact to its consolidated financial statements; therefore, the Company did not adjust its prior period consolidated financial statements. The low income housing investment losses, net of the tax benefits received, are included in income tax expense on the consolidated statements of income for the three and nine months ended September 30, 2015. |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computations of Basic Earnings Per Share and Diluted Earnings Per Share | The computations of Basic Earnings per Share and Diluted Earnings per Share are as follows: Three Months Ended 2015 2014 Basic Earnings per Share: Net Income $ 7,721 $ 7,708 Weighted Average Shares Outstanding 13,265,893 13,210,395 Basic Earnings per Share $ 0.58 $ 0.58 Diluted Earnings per Share: Net Income $ 7,721 $ 7,708 Weighted Average Shares Outstanding 13,265,893 13,210,395 Potentially Dilutive Shares, Net 7,617 20,280 Diluted Weighted Average Shares Outstanding 13,273,510 13,230,675 Diluted Earnings per Share $ 0.58 $ 0.58 For the three months ended September 30, 2015 and 2014, there were no anti-dilutive shares. The computations of Basic Earnings per Share and Diluted Earnings per Share are as follows: Nine Months Ended 2015 2014 Basic Earnings per Share: Net Income $ 22,352 $ 20,700 Weighted Average Shares Outstanding 13,247,954 13,200,025 Basic Earnings per Share $ 1.69 $ 1.57 Diluted Earnings per Share: Net Income $ 22,352 $ 20,700 Weighted Average Shares Outstanding 13,247,954 13,200,025 Potentially Dilutive Shares, Net 7,556 20,975 Diluted Weighted Average Shares Outstanding 13,255,510 13,221,000 Diluted Earnings per Share $ 1.69 $ 1.57 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity 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 at September 30, 2015 and December 31, 2014, were as follows: Securities Available-for-Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2015 U.S. Treasury and Agency Securities $ 10,000 $ — $ (30 ) $ 9,970 Obligations of State and Political Subdivisions 187,819 5,885 (362 ) 193,342 Mortgage-backed Securities - Residential 419,753 4,091 (2,365 ) 421,479 Equity Securities 353 — — 353 Total $ 617,925 $ 9,976 $ (2,757 ) $ 625,144 December 31, 2014 U.S. Treasury and Agency Securities $ 20,000 $ — $ (439 ) $ 19,561 Obligations of State and Political Subdivisions 147,321 6,515 (59 ) 153,777 Mortgage-backed Securities - Residential 458,709 3,615 (5,020 ) 457,304 Equity Securities 353 — — 353 Total $ 626,383 $ 10,130 $ (5,518 ) $ 630,995 |
Schedule of Securities Held-to-Maturity | The carrying amount, unrecognized gains and losses and fair value of Securities Held-to-Maturity at September 30, 2015 and December 31, 2014, were as follows: Securities Held-to-Maturity: Carrying Amount Gross Unrecognized Gains Gross Unrecognized Losses Fair Value September 30, 2015 Obligations of State and Political Subdivisions $ 95 $ — $ — $ 95 December 31, 2014 Obligations of State and Political Subdivisions $ 184 $ 2 $ — $ 186 |
Schedule of Securities by Contractual Maturity | The amortized cost and fair value of securities at September 30, 2015 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 in the table below. Securities Available-for-Sale: Amortized Cost Fair Value Due in one year or less $ 7,109 $ 7,213 Due after one year through five years 19,186 19,449 Due after five years through ten years 66,484 69,404 Due after ten years 105,040 107,246 Mortgage-backed Securities - Residential 419,753 421,479 Equity Securities 353 353 Total $ 617,925 $ 625,144 Securities Held-to-Maturity: Carrying Amount Fair Value Due in one year or less $ 95 $ 95 Due after one year through five years — — Due after five years through ten years — — Due after ten years — — Total $ 95 $ 95 |
Schedule of Proceeds from the Sales of Securities | Proceeds from the Sales of Securities are summarized below: Three Months Ended Three Months Ended September 30, 2015 September 30, 2014 Proceeds from Sales $ — $ 45,473 Gross Gains on Sales — 567 Income Taxes on Gross Gains — 198 Nine Months Ended Nine Months Ended September 30, 2015 September 30, 2014 Proceeds from Sales $ 18,999 $ 52,711 Gross Gains on Sales 725 1,039 Income Taxes on Gross Gains 254 364 |
Schedule of Securities with Unrealized Losses | Below is a summary of securities with unrealized losses as of September 30, 2015 and December 31, 2014, presented by length of time the securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or More Total September 30, 2015 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury and Agency Securities $ — $ — $ 9,970 $ (30 ) $ 9,970 $ (30 ) Obligations of State and Political Subdivisions 32,447 (356 ) 353 (6 ) 32,800 (362 ) Mortgage-backed Securities - Residential 50,786 (236 ) 136,030 (2,129 ) 186,816 (2,365 ) Equity Securities — — — — — — Total $ 83,233 $ (592 ) $ 146,353 $ (2,165 ) $ 229,586 $ (2,757 ) Less than 12 Months 12 Months or More Total December 31, 2014 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury and Agency Securities $ — $ — $ 19,561 $ (439 ) $ 19,561 $ (439 ) Obligations of State and Political Subdivisions 3,765 (25 ) 4,298 (34 ) 8,063 (59 ) Mortgage-backed Securities - Residential 26,606 (191 ) 209,679 (4,829 ) 236,285 (5,020 ) Equity Securities — — — — — — Total $ 30,371 $ (216 ) $ 233,538 $ (5,302 ) $ 263,909 $ (5,518 ) |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments And Hedging Activities | The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of: September 30, 2015 December 31, 2014 Notional Amount Fair Value Notional Amount Fair Value Included in Other Assets: Interest Rate Swaps $ 31,068 $ 1,433 $ 23,104 $ 507 Included in Other Liabilities: Interest Rate Swaps $ 31,068 $ 1,462 $ 23,104 $ 508 |
Derivative Instruments Consolidated Statement | The following tables present the effect of derivative instruments on the Consolidated Statements of Income for the periods presented: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest Rate Swaps: Included in Interest Income / (Expense) $ — $ — $ — $ — Included in Other Income / (Expense) 179 (4 ) 344 74 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Components of Loans | Loans were comprised of the following classifications at September 30, 2015 and December 31, 2014: September 30, December 31, Commercial: Commercial and Industrial Loans and Leases $ 404,946 $ 380,079 Commercial Real Estate Loans 600,688 583,086 Agricultural Loans 236,619 216,774 Retail: Home Equity Loans 90,907 86,234 Consumer Loans 47,480 48,613 Residential Mortgage Loans 136,645 137,204 Subtotal 1,517,285 1,451,990 Less: Unearned Income (3,705 ) (4,008 ) Allowance for Loan Losses (14,770 ) (14,929 ) Loans, Net $ 1,498,810 $ 1,433,053 |
Schedule of Allowance for Loan Losses | The following table presents the activity in the allowance for loan losses by portfolio class for the three months ending September 30, 2015 and 2014: September 30, 2015 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 4,659 $ 7,315 $ 1,223 $ 350 $ 382 $ 619 $ 710 $ 15,258 Provision for Loan Losses (337 ) (568 ) 754 (41 ) (105 ) (172 ) (31 ) (500 ) Recoveries 16 30 — 2 39 3 — 90 Loans Charged-off (5 ) — — (2 ) (71 ) — — (78 ) Ending Balance $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 $ 14,770 September 30, 2014 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 5,661 $ 7,199 $ 1,016 $ 418 $ 326 $ 435 $ 495 $ 15,550 Provision for Loan Losses (563 ) 206 156 (33 ) 77 (33 ) 190 — Recoveries 19 55 — — 41 6 — 121 Loans Charged-off — (6 ) — (7 ) (65 ) (1 ) — (79 ) Ending Balance $ 5,117 $ 7,454 $ 1,172 $ 378 $ 379 $ 407 $ 685 $ 15,592 The following table presents the activity in the allowance for loan losses by portfolio class for the nine months ending September 30, 2015 and 2014: September 30, 2015 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 4,627 $ 7,273 $ 1,123 $ 246 $ 354 $ 622 $ 684 $ 14,929 Provision for Loan Losses (350 ) (566 ) 854 88 (65 ) 44 (5 ) — Recoveries 83 81 — 8 193 14 — 379 Loans Charged-off (27 ) (11 ) — (33 ) (237 ) (230 ) — (538 ) Ending Balance $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 $ 14,770 September 30, 2014 Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Total Beginning Balance $ 3,983 $ 8,335 $ 946 $ 239 $ 188 $ 281 $ 612 $ 14,584 Provision for Loan Losses 1,124 (1,546 ) 226 148 296 229 73 550 Recoveries 97 785 — 42 127 14 — 1,065 Loans Charged-off (87 ) (120 ) — (51 ) (232 ) (117 ) — (607 ) Ending Balance $ 5,117 $ 7,454 $ 1,172 $ 378 $ 379 $ 407 $ 685 $ 15,592 |
Schedule of Allowance for Loan Losses and Recorded Investment in Loans | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of September 30, 2015 and December 31, 2014: September 30, 2015 Total Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Allowance for Loan Losses: Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment $ 1,688 $ 171 $ 1,517 $ — $ — $ — $ — $ — Collectively Evaluated for Impairment 13,082 4,162 5,260 1,977 309 245 450 679 Acquired with Deteriorated Credit Quality — — — — — — — — Total Ending Allowance Balance $ 14,770 $ 4,333 $ 6,777 $ 1,977 $ 309 $ 245 $ 450 $ 679 Loans: Loans Individually Evaluated for Impairment $ 6,116 $ 2,219 $ 3,885 $ 12 $ — $ — $ — n/m (2) Loans Collectively Evaluated for Impairment 1,510,330 403,027 592,735 239,660 91,178 47,602 136,128 n/m (2) Loans Acquired with Deteriorated Credit Quality 6,924 674 5,376 — — — 874 n/m (2) Total Ending Loans Balance (1) $ 1,523,370 $ 405,920 $ 601,996 $ 239,672 $ 91,178 $ 47,602 $ 137,002 n/m (2) (1) Total recorded investment in loans includes $6,085 in accrued interest. (2) n/m = not meaningful December 31, 2014 Total Commercial and Industrial Loans and Leases Commercial Real Estate Loans Agricultural Loans Home Equity Loans Consumer Loans Residential Mortgage Loans Unallocated Allowance for Loan Losses: Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment $ 1,532 $ 87 $ 1,445 $ — $ — $ — $ — $ — Collectively Evaluated for Impairment 13,343 4,540 5,818 1,123 246 354 578 684 Acquired with Deteriorated Credit Quality 54 — 10 — — — 44 — Total Ending Allowance Balance $ 14,929 $ 4,627 $ 7,273 $ 1,123 $ 246 $ 354 $ 622 $ 684 Loans: Loans Individually Evaluated for Impairment $ 6,044 $ 1,964 $ 4,080 $ — $ — $ — $ — n/m (2) Loans Collectively Evaluated for Impairment 1,443,363 378,533 573,961 219,640 86,570 48,614 136,045 n/m (2) Loans Acquired with Deteriorated Credit Quality 8,361 354 6,385 — — 118 1,504 n/m (2) Total Ending Loans Balance (1) $ 1,457,768 $ 380,851 $ 584,426 $ 219,640 $ 86,570 $ 48,732 $ 137,549 n/m (2) (1) Total recorded investment in loans includes $5,778 in accrued interest. (2) n/m = not meaningful |
Schedule for Loans Individually Evaluated for Impairment | The following tables present loans individually evaluated for impairment by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Unpaid Principal Balance (1) Recorded Investment Allowance for Loan Losses Allocated With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 262 $ 259 $ — Commercial Real Estate Loans 1,081 962 — Agricultural Loans 12 12 — Subtotal 1,355 1,233 — With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,945 1,960 171 Commercial Real Estate Loans 3,584 2,923 1,517 Agricultural Loans — — — Subtotal 5,529 4,883 1,688 Total $ 6,884 $ 6,116 $ 1,688 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 530 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — (1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. December 31, 2014 Unpaid Principal Balance (1) Recorded Investment Allowance for Loan Losses Allocated With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 1,887 $ 1,877 $ — Commercial Real Estate Loans 1,944 1,447 — Agricultural Loans — — — Subtotal 3,831 3,324 — With An Allowance Recorded: Commercial and Industrial Loans and Leases 84 87 87 Commercial Real Estate Loans 3,653 2,975 1,455 Agricultural Loans — — — Subtotal 3,737 3,062 1,542 Total $ 7,568 $ 6,386 $ 1,542 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 289 $ 133 $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 759 $ 209 $ 10 (1) Unpaid Principal Balance is the remaining contractual payments inclusive of partial charge-offs. The following tables present loans individually evaluated for impairment by class of loans for the three month period ended September 30, 2015 and 2014: September 30, 2015 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 366 $ 12 $ 12 Commercial Real Estate Loans 1,008 11 11 Agricultural Loans 12 1 1 Subtotal 1,386 24 24 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,974 22 22 Commercial Real Estate Loans 3,067 2 1 Agricultural Loans — — — Subtotal 5,041 24 23 Total $ 6,427 $ 48 $ 47 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 127 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — September 30, 2014 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 2,005 $ 29 $ 30 Commercial Real Estate Loans 2,384 18 21 Agricultural Loans — — — Subtotal 4,389 47 51 With An Allowance Recorded: Commercial and Industrial Loans and Leases 211 1 1 Commercial Real Estate Loans 2,643 4 3 Agricultural Loans — — — Subtotal 2,854 5 4 Total $ 7,243 $ 52 $ 55 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 773 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 31 $ 1 $ 1 The following tables present loans individually evaluated for impairment by class of loans for the nine month period ended September 30, 2015 and 2014: September 30, 2015 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 471 $ 24 $ 24 Commercial Real Estate Loans 1,228 92 92 Agricultural Loans 8 1 1 Subtotal 1,707 117 117 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,821 68 68 Commercial Real Estate Loans 3,093 3 2 Agricultural Loans — — — Subtotal 4,914 71 70 Total $ 6,621 $ 188 $ 187 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 237 $ — $ — Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ — $ — $ — September 30, 2014 Average Recorded Investment Interest Income Recognized Cash Basis Recognized With No Related Allowance Recorded: Commercial and Industrial Loans and Leases $ 2,106 $ 105 $ 107 Commercial Real Estate Loans 2,714 73 70 Agricultural Loans — — — Subtotal 4,820 178 177 With An Allowance Recorded: Commercial and Industrial Loans and Leases 1,600 1 1 Commercial Real Estate Loans 3,158 16 13 Agricultural Loans — — — Subtotal 4,758 17 14 Total $ 9,578 $ 195 $ 191 Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) $ 873 $ 3 $ 3 Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) $ 32 $ 1 $ 1 |
Schedule of Recorded Investment in Nonaccrual Loans | The following tables present the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of September 30, 2015 and December 31, 2014: Non-Accrual Loans Past Due 90 Days or More & Still Accruing 2015 2014 2015 2014 Commercial and Industrial Loans and Leases $ 680 $ 161 $ 10 $ 68 Commercial Real Estate Loans 3,077 3,460 — — Agricultural Loans — — — 75 Home Equity Loans 226 268 — — Consumer Loans 94 196 — — Residential Mortgage Loans 1,249 1,885 — — Total $ 5,326 $ 5,970 $ 10 $ 143 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 71 $ 1,154 $ — $ — |
Schedule of Aging of Recorded Investment in Past Due Loans | The following tables present the aging of the recorded investment in past due loans by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Total 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Not Past Due Commercial and Industrial Loans and Leases $ 405,920 $ 444 $ 44 $ 68 $ 556 $ 405,364 Commercial Real Estate Loans 601,996 — 39 1,210 1,249 600,747 Agricultural Loans 239,672 — — — — 239,672 Home Equity Loans 91,178 364 45 226 635 90,543 Consumer Loans 47,602 409 60 94 563 47,039 Residential Mortgage Loans 137,002 2,138 210 1,104 3,452 133,550 Total (1) $ 1,523,370 $ 3,355 $ 398 $ 2,702 $ 6,455 $ 1,516,915 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 6,924 $ 36 $ — $ — $ 36 $ 6,888 (1) Total recorded investment in loans includes $6,085 in accrued interest. December 31, 2014 Total 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Loans Not Past Due Commercial and Industrial Loans and Leases $ 380,851 $ 628 $ — $ 148 $ 776 $ 380,075 Commercial Real Estate Loans 584,426 504 10 753 1,267 583,159 Agricultural Loans 219,640 25 — 75 100 219,540 Home Equity Loans 86,570 197 4 268 469 86,101 Consumer Loans 48,732 132 28 75 235 48,497 Residential Mortgage Loans 137,549 2,046 329 1,720 4,095 133,454 Total (1) $ 1,457,768 $ 3,532 $ 371 $ 3,039 $ 6,942 $ 1,450,826 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 8,361 $ — $ — $ 648 $ 648 $ 7,713 (1) Total recorded investment in loans includes $5,778 in accrued interest. |
Schedule of Recorded Investment of Troubled Debt Restructurings | The following tables present the recorded investment of troubled debt restructurings by class of loans as of September 30, 2015 and December 31, 2014: September 30, 2015 Total Performing Non-Accrual (1) Commercial and Industrial Loans and Leases $ 1,541 $ 1,539 $ 2 Commercial Real Estate Loans 2,494 807 1,687 Total $ 4,035 $ 2,346 $ 1,689 December 31, 2014 Total Performing Non-Accrual (1) Commercial and Industrial Loans and Leases $ 1,809 $ 1,803 $ 6 Commercial Real Estate Loans 2,841 960 1,881 Total $ 4,650 $ 2,763 $ 1,887 (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 tables present loans by class modified as troubled debt restructurings that occurred during the three months ending September 30, 2015 and 2014: September 30, 2015 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the three months ending September 30, 2015. September 30, 2014 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the three months ending September 30, 2014. The following tables present loans by class modified as troubled debt restructurings that occurred during the nine months ending September 30, 2015 and 2014: September 30, 2015 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans — — — Total — $ — $ — The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the nine months ending September 30, 2015. September 30, 2014 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial Loans and Leases — $ — $ — Commercial Real Estate Loans 1 201 197 Total 1 $ 201 $ 197 The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the nine months ending September 30, 2014. |
Schedule of Troubled Debt Restructuring, Subsequently Defaulted | 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 three months ending September 30, 2015 and 2014: Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2015 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 three months ending September 30, 2015. Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2014 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 186 Total 1 $ 186 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 three months ending September 30, 2014. 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 nine months ending September 30, 2015 and 2014: Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2015 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 95 Total 1 $ 95 The troubled debt restructurings that subsequently defaulted described above resulted in no change to the allowance for loan losses and charge-offs of $ 95 during the nine months ending September 30, 2015. Troubled Debt Restructurings That Subsequently Defaulted: Number of Loans Recorded Investment September 30, 2014 Commercial and Industrial Loans and Leases — $ — Commercial Real Estate Loans 1 186 Total 1 $ 186 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 nine months ending September 30, 2014. |
Schedule of Risk Category of Loans | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: September 30, 2015 Pass Special Mention Substandard Doubtful Total Commercial and Industrial Loans and Leases $ 377,189 $ 16,682 $ 12,049 $ — $ 405,920 Commercial Real Estate Loans 565,396 23,879 12,721 — 601,996 Agricultural Loans 232,762 6,809 101 — 239,672 Total $ 1,175,347 $ 47,370 $ 24,871 $ — $ 1,247,588 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 926 $ 1,723 $ 3,401 $ — $ 6,050 December 31, 2014 Pass Special Mention Substandard Doubtful Total Commercial and Industrial Loans and Leases $ 351,250 $ 18,387 $ 11,214 $ — $ 380,851 Commercial Real Estate Loans 545,804 23,421 15,201 — 584,426 Agricultural Loans 214,974 4,211 455 — 219,640 Total $ 1,112,028 $ 46,019 $ 26,870 $ — $ 1,184,917 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ 651 $ 1,697 $ 4,391 $ — $ 6,739 |
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 September 30, 2015 and December 31, 2014: September 30, 2015 Home Equity Loans Consumer Loans Residential Mortgage Loans Performing $ 90,952 $ 47,508 $ 135,753 Nonperforming 226 94 1,249 Total $ 91,178 $ 47,602 $ 137,002 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ — $ — $ 874 December 31, 2014 Home Equity Loans Consumer Loans Residential Mortgage Loans Performing $ 86,302 $ 48,536 $ 135,664 Nonperforming 268 196 1,885 Total $ 86,570 $ 48,732 $ 137,549 Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) $ — $ 118 $ 1,504 |
Schedule of Carrying Amount of Loans with Deterioration of Credit Quality | 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 is as follows: September 30, 2015 December 31, 2014 Commercial and Industrial Loans $ 674 $ 354 Commercial Real Estate Loans 5,376 6,385 Home Equity Loans — — Consumer Loans — 118 Residential Mortgage Loans 874 1,504 Total $ 6,924 $ 8,361 Carrying Amount, Net of Allowance $ 6,924 $ 8,307 |
Schedule of Accretable Yield, or Income Expected to be Collected | Accretable yield, or income expected to be collected, is as follows: 2015 2014 Balance at July 1 $ 1,680 $ 1,126 New Loans Purchased — — Accretion of Income (251 ) (89 ) Reclassifications from Non-accretable Difference — — Charge-off of Accretable Yield — (113 ) Balance at September 30 $ 1,429 $ 924 2015 2014 Balance at January 1 $ 1,685 $ 1,279 New Loans Purchased — — Accretion of Income (333 ) (242 ) Reclassifications from Non-accretable Difference 104 — Charge-off of Accretable Yield (27 ) (113 ) Balance at September 30 $ 1,429 $ 924 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Financial Information | The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. 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. Core Banking Trust and Investment Advisory Services Insurance Other Consolidated Totals Three Months Ended September 30, 2015 Net Interest Income $ 18,961 $ — $ 2 $ (104 ) $ 18,859 Net Gains on Sales of Loans 831 — — — 831 Net Gains on Securities — — — — — Trust and Investment Product Fees 1 1,053 — (3 ) 1,051 Insurance Revenues 8 15 1,729 — 1,752 Noncash Items: Provision for Loan Losses (500 ) — — — (500 ) Depreciation and Amortization 980 2 27 38 1,047 Income Tax Expense (Benefit) 2,571 (1 ) 84 (225 ) 2,429 Segment Profit (Loss) 7,702 (14 ) 140 (107 ) 7,721 Segment Assets at September 30, 2015 2,307,765 1,493 7,410 (3,458 ) 2,313,210 Core Banking Trust and Investment Advisory Services Insurance Other Consolidated Totals Three Months Ended September 30, 2014 Net Interest Income $ 18,908 $ 4 $ 1 $ (122 ) $ 18,791 Net Gains on Sales of Loans 613 — — — 613 Net Gains on Securities 567 — — — 567 Trust and Investment Product Fees 2 899 — — 901 Insurance Revenues 15 22 1,702 — 1,739 Noncash Items: Provision for Loan Losses — — — — — Depreciation and Amortization 1,120 5 26 38 1,189 Income Tax Expense (Benefit) 3,496 (15 ) 147 (190 ) 3,438 Segment Profit (Loss) 7,540 (30 ) 216 (18 ) 7,708 Segment Assets at December 31, 2014 2,242,456 11,401 6,429 (23,187 ) 2,237,099 Core Trust and Investment Advisory Services Insurance Other Consolidated Totals Nine Months Ended September 30, 2015 Net Interest Income $ 56,402 $ 8 $ 4 $ (300 ) $ 56,114 Net Gains on Sales of Loans 2,364 — — — 2,364 Net Gains on Securities 698 — — 27 725 Trust and Investment Product Fees 3 2,974 — (3 ) 2,974 Insurance Revenues 19 33 5,760 — 5,812 Noncash Items: Provision for Loan Losses — — — — — Depreciation and Amortization 3,045 15 81 113 3,254 Income Tax Expense (Benefit) 8,709 (13 ) 576 (604 ) 8,668 Segment Profit (Loss) 21,650 (47 ) 874 (125 ) 22,352 Segment Assets at September 30, 2015 2,307,765 1,493 7,410 (3,458 ) 2,313,210 Core Trust and Investment Advisory Services Insurance Other Consolidated Totals Nine Months Ended September 30, 2014 Net Interest Income $ 55,655 $ 12 $ 3 $ (362 ) $ 55,308 Net Gains on Sales of Loans 1,475 — — — 1,475 Net Gains on Securities 1,039 — — — 1,039 Trust and Investment Product Fees 4 2,724 — — 2,728 Insurance Revenues 20 33 5,724 — 5,777 Noncash Items: Provision for Loan Losses 550 — — — 550 Depreciation and Amortization 3,395 18 85 113 3,611 Income Tax Expense (Benefit) 8,940 (122 ) 747 (598 ) 8,967 Segment Profit (Loss) 19,908 (202 ) 1,078 (84 ) 20,700 Segment Assets at December 31, 2014 2,242,456 11,401 6,429 (23,187 ) 2,237,099 |
Equity Plans and Equity Based26
Equity Plans and Equity Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Expense Recorded For Restricted Stock And Cash Entitlements | The following tables present expense recorded for restricted stock and cash entitlements as well as the related tax information for the periods presented: Three Months Ended September 30, 2015 2014 Restricted Stock Expense $ 227 $ 161 Cash Entitlement Expense 134 101 Tax Effect (146 ) (106 ) Net of Tax $ 215 $ 156 Nine Months Ended 2015 2014 Restricted Stock Expense $ 737 $ 482 Cash Entitlement Expense 438 300 Tax Effect (476 ) (317 ) Net of Tax $ 699 $ 465 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
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 September 30, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: U.S. Treasury and Agency Securities $ — $ 9,970 $ — $ 9,970 Obligations of State and Political Subdivisions — 184,336 9,006 193,342 Mortgage-backed Securities-Residential — 421,479 — 421,479 Equity Securities — — 353 353 Total Securities $ — $ 615,785 $ 9,359 $ 625,144 Loans Held-for-Sale $ — $ 6,410 $ — $ 6,410 Derivative Assets $ — $ 1,433 $ — $ 1,433 Derivative Liabilities $ — $ 1,462 $ — $ 1,462 Fair Value Measurements at December 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: U.S. Treasury and Agency Securities $ — $ 19,561 $ — $ 19,561 Obligations of State and Political Subdivisions — 143,636 10,141 153,777 Mortgage-backed Securities-Residential — 457,304 — 457,304 Equity Securities — — 353 353 Total Securities $ — $ 620,501 $ 10,494 $ 630,995 Loans Held-for-Sale $ — $ 6,311 $ — $ 6,311 Derivative Assets $ — $ 507 $ — $ 507 Derivative Liabilities $ — $ 508 $ — $ 508 |
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 three and nine months ended September 30, 2015 and 2014: Obligations of State and Political Subdivisions Equity Securities 2015 2014 2015 2014 Balance of Recurring Level 3 Assets at July 1 $ 9,521 $ 10,562 $ 353 $ 353 Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income 25 (12 ) — — Maturities / Calls (540 ) (430 ) — — Purchases — — — — Balance of Recurring Level 3 Assets at September 30 $ 9,006 $ 10,120 $ 353 $ 353 Obligations of State and Political Subdivisions Equity Securities 2015 2014 2015 2014 Balance of Recurring Level 3 Assets at January 1 $ 10,141 $ 10,832 $ 353 $ 353 Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income (20 ) 143 — — Maturities / Calls (1,115 ) (855 ) — — Purchases — — — — Balance of Recurring Level 3 Assets at September 30 $ 9,006 $ 10,120 $ 353 $ 353 |
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 September 30, 2015 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Impaired Loans Commercial and Industrial Loans $ — $ — $ 426 $ 426 Commercial Real Estate Loans — — 1,386 1,386 Agricultural Loans — — — — Other Real Estate Commercial Real Estate — — — — Fair Value Measurements at December 31, 2014 Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets: Impaired Loans Commercial and Industrial Loans $ — $ — $ — $ — Commercial Real Estate Loans — — 1,504 1,504 Agricultural Loans — — — — Other Real Estate Commercial Real Estate — — 68 68 |
Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques | The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014: September 30, 2015 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired Loans - Commercial and Industrial Loans $ 426 Sales comparison approach Adjustment for physical condition of comparable properties sold 100%-69% (69%) Impaired Loans - Commercial Real Estate Loans $ 1,386 Sales comparison approach Adjustment for physical condition of comparable properties sold 93%-30% (74%) December 31, 2014 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired Loans - Commercial Real Estate Loans $ 1,504 Sales comparison approach Adjustment for physical condition of comparable properties sold 30%-86% (71%) Other Real Estate - Commercial Real Estate Loans $ 68 Sales comparison approach Adjustment for physical condition of comparable properties sold 55% (55%) |
Carrying Amounts and Estimated Fair Values of Company's Financial Instruments | The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending September 30, 2015 and December 31, 2014. 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 September 30, 2015 Using Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and Short-term Investments $ 62,238 $ 39,998 $ 22,240 $ — $ 62,238 Securities Held-to-Maturity 95 — 95 — 95 Loans, Net 1,496,998 — — 1,500,221 1,500,221 FHLB Stock and Other Restricted Stock 8,167 N/A N/A N/A N/A Accrued Interest Receivable 8,978 — 2,819 6,159 8,978 Financial Liabilities: Demand, Savings, and Money Market Deposits (1,458,467 ) (1,458,467 ) — — (1,458,467 ) Time Deposits (345,368 ) — (345,415 ) — (345,415 ) Short-term Borrowings (139,479 ) — (139,479 ) — (139,479 ) Long-term Debt (99,593 ) — (95,393 ) (5,513 ) (100,906 ) Accrued Interest Payable (627 ) — (620 ) (7 ) (627 ) Fair Value Measurements at December 31, 2014 Using Carrying Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and Short-term Investments $ 42,546 $ 33,481 $ 9,065 $ — $ 42,546 Securities Held-to-Maturity 184 — 186 — 186 Loans, Net 1,431,549 — — 1,432,622 1,432,622 FHLB Stock and Other Restricted Stock 7,040 N/A N/A N/A N/A Accrued Interest Receivable 8,162 — 2,240 5,922 8,162 Financial Liabilities: Demand, Savings, and Money Market Deposits (1,446,336 ) (1,446,336 ) — — (1,446,336 ) Time Deposits (333,425 ) — (335,134 ) — (335,134 ) Short-term Borrowings (141,473 ) — (141,473 ) — (141,473 ) Long-term Debt (64,591 ) — (60,289 ) (5,429 ) (65,718 ) Accrued Interest Payable (754 ) — (704 ) (50 ) (754 ) |
Other Comprehensive Income (L28
Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The tables below summarize the changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 and 2014, net of tax: September 30, 2015 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at July 1, 2015 $ 491 $ — $ (68 ) $ 423 Other Comprehensive Income (Loss) Before Reclassification 4,161 — — 4,161 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — — — — Net Current Period Other Comprehensive Income (Loss) 4,161 — — 4,161 Ending Balance at September 30, 2015 $ 4,652 $ — $ (68 ) $ 4,584 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at January 1, 2015 $ 2,958 $ — $ (68 ) $ 2,890 Other Comprehensive Income (Loss) Before Reclassification 2,165 — — 2,165 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (471 ) — — (471 ) Net Current Period Other Comprehensive Income (Loss) 1,694 — — 1,694 Ending Balance at September 30, 2015 $ 4,652 $ — $ (68 ) $ 4,584 September 30, 2014 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at July 1, 2014 $ (130 ) $ — $ (32 ) $ (162 ) Other Comprehensive Income (Loss) Before Reclassification 577 — — 577 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (369 ) — — (369 ) Net Current Period Other Comprehensive Income (Loss) 208 — — 208 Ending Balance at September 30, 2014 $ 78 $ — $ (32 ) $ 46 Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Postretirement Benefit Items Total Beginning Balance at January 1, 2014 $ (5,231 ) $ — $ (32 ) $ (5,263 ) Other Comprehensive Income (Loss) Before Reclassification 5,984 — — 5,984 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (675 ) — — (675 ) Net Current Period Other Comprehensive Income (Loss) 5,309 — — 5,309 Ending Balance at September 30, 2014 $ 78 $ — $ (32 ) $ 46 |
Classifications Out of Accumulated Other Comprehensive Income (Loss) | The tables below summarize the reclassifications out of accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 and 2014: Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ — Net Gain (Loss) on Securities — Income Tax Expense — Net of Tax Total Reclassifications for the Three Months Ended September 30, 2015 $ — Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 725 Net Gain (Loss) on Securities (254 ) Income Tax Expense 471 Net of Tax Total Reclassifications for the Nine Months Ended September 30, 2015 $ 471 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 567 Net Gain (Loss) on Securities (198 ) Income Tax Expense 369 Net of Tax Total Reclassifications for the Three Months Ended September 30, 2014 $ 369 Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains and Losses on Available-for-Sale Securities $ 1,039 Net Gain (Loss) on Securities (364 ) Income Tax Expense 675 Net of Tax Total Reclassifications for the Nine Months Ended September 30, 2014 $ 675 |
Per Share Data (Computations of
Per Share Data (Computations of Basic Earnings Per Share and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic Earnings per Share: | ||||
NET INCOME | $ 7,721 | $ 7,708 | $ 22,352 | $ 20,700 |
Weighted Average Shares Outstanding | 13,265,893 | 13,210,395 | 13,247,954 | 13,200,025 |
Basic Earnings per Share (USD per share) | $ 0.58 | $ 0.58 | $ 1.69 | $ 1.57 |
Diluted Earnings per Share: | ||||
NET INCOME | $ 7,721 | $ 7,708 | $ 22,352 | $ 20,700 |
Weighted Average Shares Outstanding | 13,265,893 | 13,210,395 | 13,247,954 | 13,200,025 |
Potentially Dilutive Shares, Net | 7,617 | 20,280 | 7,556 | 20,975 |
Diluted Weighted Average Shares Outstanding | 13,273,510 | 13,230,675 | 13,255,510 | 13,221,000 |
Diluted Earnings per Share (USD per share) | $ 0.58 | $ 0.58 | $ 1.69 | $ 1.57 |
Per share Data (Additional Info
Per share Data (Additional Information) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share | 0 | 0 | 0 | 0 |
Securities (Schedule of Securit
Securities (Schedule of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 617,925 | $ 626,383 |
Gross Unrealized Gains | 9,976 | 10,130 |
Gross Unrealized Losses | (2,757) | (5,518) |
Total Fair Value | 625,144 | 630,995 |
U.S. Treasury and Agency Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 10,000 | 20,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (30) | (439) |
Total Fair Value | 9,970 | 19,561 |
Obligations of State and Political Subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 187,819 | 147,321 |
Gross Unrealized Gains | 5,885 | 6,515 |
Gross Unrealized Losses | (362) | (59) |
Total Fair Value | 193,342 | 153,777 |
Mortgage-backed Securities - Residential | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 419,753 | 458,709 |
Gross Unrealized Gains | 4,091 | 3,615 |
Gross Unrealized Losses | (2,365) | (5,020) |
Total Fair Value | 421,479 | 457,304 |
Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 353 | 353 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Total Fair Value | $ 353 | $ 353 |
Securities (Schedule of Secur32
Securities (Schedule of Securities Held-to-Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Total Carrying Amount | $ 95 | $ 184 |
Fair Value | 95 | 186 |
Obligations of State and Political Subdivisions | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Total Carrying Amount | 95 | 184 |
Gross Unrecognized Gains | 0 | 2 |
Gross Unrecognized Losses | 0 | 0 |
Fair Value | $ 95 | $ 186 |
Securities (Schedule of by Cont
Securities (Schedule of by Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Available-for-Sale: Amortized cost | ||
Due in one year or less | $ 7,109 | |
Due after one year through five years | 19,186 | |
Due after five years through ten years | 66,484 | |
Due after ten years | 105,040 | |
Total Amortized Cost | 617,925 | $ 626,383 |
Securities Available-for-Sale, Fair Value | ||
Due in one year or less | 7,213 | |
Due after one year through five years | 19,449 | |
Due after five years through ten years | 69,404 | |
Due after ten years | 107,246 | |
Total Fair Value | 625,144 | 630,995 |
Securities Held-to-Maturity, Carrying Amount | ||
Due in one year or less | 95 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 0 | |
Due after ten years | 0 | |
Total Carrying Amount | 95 | 184 |
Securities Held-to-Maturity, Fair Value | ||
Due in one year or less | 95 | |
Due after one year through five years | 0 | |
Due after five years through ten years | 0 | |
Due after ten years | 0 | |
Total Fair Value | 95 | 186 |
Mortgage-backed Securities - Residential | ||
Securities Available-for-Sale: Amortized cost | ||
Amortized cost | 419,753 | |
Total Amortized Cost | 419,753 | 458,709 |
Securities Available-for-Sale, Fair Value | ||
Fair value | 421,479 | |
Total Fair Value | 421,479 | 457,304 |
Equity Securities | ||
Securities Available-for-Sale: Amortized cost | ||
Amortized cost | 353 | |
Total Amortized Cost | 353 | 353 |
Securities Available-for-Sale, Fair Value | ||
Fair value | 353 | |
Total Fair Value | $ 353 | $ 353 |
Securities (Schedule of Proceed
Securities (Schedule of Proceeds from Sales of Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Investments [Line Items] | ||||
Proceeds from Sales | $ 18,999 | $ 52,711 | ||
Gross Gains on Sales | $ 0 | $ 567 | 725 | 1,039 |
Sale of Securities | ||||
Schedule of Investments [Line Items] | ||||
Proceeds from Sales | 0 | 45,473 | 18,999 | 52,711 |
Gross Gains on Sales | 0 | 567 | 725 | 1,039 |
Income Taxes on Gross Gains | $ 0 | $ 198 | $ 254 | $ 364 |
Securities (Schedule of Secur35
Securities (Schedule of Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | $ 83,233 | $ 30,371 |
Less than 12 Months Unrealized Loss | (592) | (216) |
12 Months or More Fair Value | 146,353 | 233,538 |
12 Months or More Unrealized Loss | (2,165) | (5,302) |
Total Fair Value | 229,586 | 263,909 |
Total Unrealized Loss | (2,757) | (5,518) |
U.S. Treasury and Agency Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 0 | 0 |
Less than 12 Months Unrealized Loss | 0 | 0 |
12 Months or More Fair Value | 9,970 | 19,561 |
12 Months or More Unrealized Loss | (30) | (439) |
Total Fair Value | 9,970 | 19,561 |
Total Unrealized Loss | (30) | (439) |
Obligations of State and Political Subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 32,447 | 3,765 |
Less than 12 Months Unrealized Loss | (356) | (25) |
12 Months or More Fair Value | 353 | 4,298 |
12 Months or More Unrealized Loss | (6) | (34) |
Total Fair Value | 32,800 | 8,063 |
Total Unrealized Loss | (362) | (59) |
Mortgage-backed Securities - Residential | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 50,786 | 26,606 |
Less than 12 Months Unrealized Loss | (236) | (191) |
12 Months or More Fair Value | 136,030 | 209,679 |
12 Months or More Unrealized Loss | (2,129) | (4,829) |
Total Fair Value | 186,816 | 236,285 |
Total Unrealized Loss | (2,365) | (5,020) |
Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 0 | 0 |
Less than 12 Months Unrealized Loss | 0 | 0 |
12 Months or More Fair Value | 0 | 0 |
12 Months or More Unrealized Loss | 0 | 0 |
Total Fair Value | 0 | 0 |
Total Unrealized Loss | $ 0 | $ 0 |
Derivatives (Additional Informa
Derivatives (Additional Information) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 31,068 | $ 23,104 |
Derivatives (Derivative Instrum
Derivatives (Derivative Instruments And Hedging Activities) (Details) - Interest Rate Swap - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Other Assets, Notional Amount of Interest Rate Swaps | $ 31,068 | $ 23,104 |
Other Assets, Fair Value of Interest Rate Swaps | 1,433 | 507 |
Other Liabilities, Notional Amount of Interest Rate Swap | 31,068 | 23,104 |
Other Liabilities, Fair Value of Interest Rate Swap | $ 1,462 | $ 508 |
Derivatives (Derivative Instr38
Derivatives (Derivative Instruments Consolidated Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Included in Interest Income / (Expense) | $ 18,859 | $ 18,791 | $ 56,114 | $ 55,308 |
Interest Rate Swap | ||||
Trading Activity, Gains and Losses, Net [Line Items] | ||||
Included in Interest Income / (Expense) | 0 | 0 | 0 | 0 |
Included in Other Income / (Expense) | $ 179 | $ (4) | $ 344 | $ 74 |
Loans (Components of Loans) (De
Loans (Components of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Subtotal | $ 1,517,285 | $ 1,451,990 | ||||
Less: Unearned Income | (3,705) | (4,008) | ||||
Allowance for Loan Losses | (14,770) | $ (15,258) | (14,929) | $ (15,592) | $ (15,550) | $ (14,584) |
Loans, Net | 1,498,810 | 1,433,053 | ||||
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and Industrial Loans and Leases | 404,946 | 380,079 | ||||
Commercial Real Estate Loans | 600,688 | 583,086 | ||||
Agricultural Loans | 236,619 | 216,774 | ||||
Retail | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Home Equity Loans | 90,907 | 86,234 | ||||
Consumer Loans | 47,480 | 48,613 | ||||
Residential Mortgage Loans | $ 136,645 | $ 137,204 |
Loans (Schedule of Allowance fo
Loans (Schedule of Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | $ 15,258 | $ 15,550 | $ 14,929 | $ 14,584 |
Provision for Loan Losses | (500) | 0 | 0 | 550 |
Recoveries | 90 | 121 | 379 | 1,065 |
Loans Charged-off | (78) | (79) | (538) | (607) |
Ending Balance | 14,770 | 15,592 | 14,770 | 15,592 |
Commercial and Industrial Loans and Leases | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 4,659 | 5,661 | 4,627 | 3,983 |
Provision for Loan Losses | (337) | (563) | (350) | 1,124 |
Recoveries | 16 | 19 | 83 | 97 |
Loans Charged-off | (5) | 0 | (27) | (87) |
Ending Balance | 4,333 | 5,117 | 4,333 | 5,117 |
Commercial Real Estate Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 7,315 | 7,199 | 7,273 | 8,335 |
Provision for Loan Losses | (568) | 206 | (566) | (1,546) |
Recoveries | 30 | 55 | 81 | 785 |
Loans Charged-off | 0 | (6) | (11) | (120) |
Ending Balance | 6,777 | 7,454 | 6,777 | 7,454 |
Agricultural Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 1,223 | 1,016 | 1,123 | 946 |
Provision for Loan Losses | 754 | 156 | 854 | 226 |
Recoveries | 0 | 0 | 0 | 0 |
Loans Charged-off | 0 | 0 | 0 | 0 |
Ending Balance | 1,977 | 1,172 | 1,977 | 1,172 |
Home Equity Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 350 | 418 | 246 | 239 |
Provision for Loan Losses | (41) | (33) | 88 | 148 |
Recoveries | 2 | 0 | 8 | 42 |
Loans Charged-off | (2) | (7) | (33) | (51) |
Ending Balance | 309 | 378 | 309 | 378 |
Consumer Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 382 | 326 | 354 | 188 |
Provision for Loan Losses | (105) | 77 | (65) | 296 |
Recoveries | 39 | 41 | 193 | 127 |
Loans Charged-off | (71) | (65) | (237) | (232) |
Ending Balance | 245 | 379 | 245 | 379 |
Residential Mortgage Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 619 | 435 | 622 | 281 |
Provision for Loan Losses | (172) | (33) | 44 | 229 |
Recoveries | 3 | 6 | 14 | 14 |
Loans Charged-off | 0 | (1) | (230) | (117) |
Ending Balance | 450 | 407 | 450 | 407 |
Unallocated | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 710 | 495 | 684 | 612 |
Provision for Loan Losses | (31) | 190 | (5) | 73 |
Recoveries | 0 | 0 | 0 | 0 |
Loans Charged-off | 0 | 0 | 0 | 0 |
Ending Balance | $ 679 | $ 685 | $ 679 | $ 685 |
Loans (Schedule of Allowance 41
Loans (Schedule of Allowance for Loan Losses and Recorded Investment in Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | ||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | $ 1,688 | $ 1,532 | ||||||
Collectively Evaluated for Impairment | 13,082 | 13,343 | ||||||
Total Ending Allowance Balance | 14,770 | $ 15,258 | 14,929 | $ 15,592 | $ 15,550 | $ 14,584 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 6,116 | 6,044 | ||||||
Loans Collectively Evaluated for Impairment | 1,510,330 | 1,443,363 | ||||||
Total loans | 1,523,370 | [1],[2] | 1,457,768 | [3],[4] | ||||
Accrued interest | 6,085 | 5,778 | ||||||
Commercial and Industrial Loans and Leases | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 171 | 87 | ||||||
Collectively Evaluated for Impairment | 4,162 | 4,540 | ||||||
Total Ending Allowance Balance | 4,333 | 4,659 | 4,627 | 5,117 | 5,661 | 3,983 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 2,219 | 1,964 | ||||||
Loans Collectively Evaluated for Impairment | 403,027 | 378,533 | ||||||
Total loans | 405,920 | [1] | 380,851 | [3] | ||||
Commercial Real Estate Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 1,517 | 1,445 | ||||||
Collectively Evaluated for Impairment | 5,260 | 5,818 | ||||||
Total Ending Allowance Balance | 6,777 | 7,315 | 7,273 | 7,454 | 7,199 | 8,335 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 3,885 | 4,080 | ||||||
Loans Collectively Evaluated for Impairment | 592,735 | 573,961 | ||||||
Total loans | 601,996 | [1] | 584,426 | [3] | ||||
Agricultural Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 0 | 0 | ||||||
Collectively Evaluated for Impairment | 1,977 | 1,123 | ||||||
Total Ending Allowance Balance | 1,977 | 1,223 | 1,123 | 1,172 | 1,016 | 946 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 12 | 0 | ||||||
Loans Collectively Evaluated for Impairment | 239,660 | 219,640 | ||||||
Total loans | 239,672 | [1] | 219,640 | [3] | ||||
Home Equity Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 0 | 0 | ||||||
Collectively Evaluated for Impairment | 309 | 246 | ||||||
Total Ending Allowance Balance | 309 | 350 | 246 | 378 | 418 | 239 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | ||||||
Loans Collectively Evaluated for Impairment | 91,178 | 86,570 | ||||||
Total loans | 91,178 | [1] | 86,570 | [3] | ||||
Consumer Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 0 | 0 | ||||||
Collectively Evaluated for Impairment | 245 | 354 | ||||||
Total Ending Allowance Balance | 245 | 382 | 354 | 379 | 326 | 188 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | ||||||
Loans Collectively Evaluated for Impairment | 47,602 | 48,614 | ||||||
Total loans | 47,602 | [1] | 48,732 | [3] | ||||
Residential Mortgage Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 0 | 0 | ||||||
Collectively Evaluated for Impairment | 450 | 578 | ||||||
Total Ending Allowance Balance | 450 | 619 | 622 | 407 | 435 | 281 | ||
Loans: | ||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | ||||||
Loans Collectively Evaluated for Impairment | 136,128 | 136,045 | ||||||
Total loans | 137,002 | [1] | 137,549 | [3] | ||||
Unallocated | ||||||||
Allowance for Loan Losses: | ||||||||
Individually Evaluated for Impairment | 0 | 0 | ||||||
Collectively Evaluated for Impairment | 679 | 684 | ||||||
Total Ending Allowance Balance | 679 | $ 710 | 684 | $ 685 | $ 495 | $ 612 | ||
Receivables Acquired with Deteriorated Credit Quality | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 54 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 6,924 | 8,361 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Commercial and Industrial Loans and Leases | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 674 | 354 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Commercial Real Estate Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 10 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 5,376 | 6,385 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Agricultural Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Home Equity Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Consumer Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 0 | 118 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Residential Mortgage Loans | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | 0 | 44 | ||||||
Loans: | ||||||||
Loans Acquired with Deteriorated Credit Quality | 874 | 1,504 | ||||||
Receivables Acquired with Deteriorated Credit Quality | Unallocated | ||||||||
Allowance for Loan Losses: | ||||||||
Acquired with Deteriorated Credit Quality | $ 0 | $ 0 | ||||||
[1] | Total recorded investment in loans includes $6,085 in accrued interest. | |||||||
[2] | Total recorded investment in loans includes $6,085 in accrued interest. | |||||||
[3] | Total recorded investment in loans includes $5,778 in accrued interest. | |||||||
[4] | Total recorded investment in loans includes $5,778 in accrued interest. |
Loans (Schedule for Loans Indiv
Loans (Schedule for Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
With An Allowance Recorded: | ||||||
Allowance for Loan Losses Allocated | $ 1,688 | $ 1,688 | $ 1,542 | |||
Unpaid Principal Balance | [1] | 6,884 | 6,884 | 7,568 | ||
Recorded Investment | 6,116 | 6,116 | 6,386 | |||
Average Recorded Investment | 6,427 | $ 7,243 | 6,621 | $ 9,578 | ||
Interest Income Recognized | 48 | 52 | 188 | 195 | ||
Cash Basis Recognized | 47 | 55 | 187 | 191 | ||
Commercial and Industrial Loans and Leases | ||||||
With No Related Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 262 | 262 | 1,887 | ||
Recorded Investment | 259 | 259 | 1,877 | |||
Average Recorded Investment | 366 | 2,005 | 471 | 2,106 | ||
Interest Income Recognized | 12 | 29 | 24 | 105 | ||
Cash Basis Recognized | 12 | 30 | 24 | 107 | ||
With An Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 1,945 | 1,945 | 84 | ||
Recorded Investment | 1,960 | 1,960 | 87 | |||
Allowance for Loan Losses Allocated | 171 | 171 | 87 | |||
Average Recorded Investment | 1,974 | 211 | 1,821 | 1,600 | ||
Interest Income Recognized | 22 | 1 | 68 | 1 | ||
Cash Basis Recognized | 22 | 1 | 68 | 1 | ||
Commercial Real Estate Loans | ||||||
With No Related Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 1,081 | 1,081 | 1,944 | ||
Recorded Investment | 962 | 962 | 1,447 | |||
Average Recorded Investment | 1,008 | 2,384 | 1,228 | 2,714 | ||
Interest Income Recognized | 11 | 18 | 92 | 73 | ||
Cash Basis Recognized | 11 | 21 | 92 | 70 | ||
With An Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 3,584 | 3,584 | 3,653 | ||
Recorded Investment | 2,923 | 2,923 | 2,975 | |||
Allowance for Loan Losses Allocated | 1,517 | 1,517 | 1,455 | |||
Average Recorded Investment | 3,067 | 2,643 | 3,093 | 3,158 | ||
Interest Income Recognized | 2 | 4 | 3 | 16 | ||
Cash Basis Recognized | 1 | 3 | 2 | 13 | ||
Agricultural Loans | ||||||
With No Related Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 12 | 12 | 0 | ||
Recorded Investment | 12 | 12 | 0 | |||
Average Recorded Investment | 12 | 0 | 8 | 0 | ||
Interest Income Recognized | 1 | 0 | 1 | 0 | ||
Cash Basis Recognized | 1 | 0 | 1 | 0 | ||
With An Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 0 | 0 | 0 | ||
Recorded Investment | 0 | 0 | 0 | |||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | |||
Average Recorded Investment | 0 | 0 | 0 | 0 | ||
Interest Income Recognized | 0 | 0 | 0 | 0 | ||
Cash Basis Recognized | 0 | 0 | 0 | 0 | ||
Subtotal | ||||||
With No Related Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 1,355 | 1,355 | 3,831 | ||
Recorded Investment | 1,233 | 1,233 | 3,324 | |||
Average Recorded Investment | 1,386 | 4,389 | 1,707 | 4,820 | ||
Interest Income Recognized | 24 | 47 | 117 | 178 | ||
Cash Basis Recognized | 24 | 51 | 117 | 177 | ||
With An Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 5,529 | 5,529 | 3,737 | ||
Recorded Investment | 4,883 | 4,883 | 3,062 | |||
Allowance for Loan Losses Allocated | 1,688 | 1,688 | 1,542 | |||
Average Recorded Investment | 5,041 | 2,854 | 4,914 | 4,758 | ||
Interest Income Recognized | 24 | 5 | 71 | 17 | ||
Cash Basis Recognized | 23 | 4 | 70 | 14 | ||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | ||||||
With No Related Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 530 | 530 | 289 | ||
Recorded Investment | 0 | 0 | 133 | |||
Average Recorded Investment | 127 | 773 | 237 | 873 | ||
Interest Income Recognized | 0 | 0 | 0 | 3 | ||
Cash Basis Recognized | 0 | 0 | 0 | 3 | ||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | ||||||
With An Allowance Recorded: | ||||||
Unpaid Principal Balance | [1] | 0 | 0 | 759 | ||
Recorded Investment | 0 | 0 | 209 | |||
Allowance for Loan Losses Allocated | 0 | 0 | $ 10 | |||
Average Recorded Investment | 0 | 31 | 0 | 32 | ||
Interest Income Recognized | 0 | 1 | 0 | 1 | ||
Cash Basis Recognized | $ 0 | $ 1 | $ 0 | $ 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 ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | $ 5,326 | $ 5,970 |
Loans Past Due 90 Days or More & Still Accruing | 10 | 143 |
Commercial and Industrial Loans and Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 680 | 161 |
Loans Past Due 90 Days or More & Still Accruing | 10 | 68 |
Commercial Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 3,077 | 3,460 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Agricultural Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 0 | 0 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 75 |
Home Equity Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 226 | 268 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Consumer Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 94 | 196 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Residential Mortgage Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 1,249 | 1,885 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual | 71 | 1,154 |
Loans Past Due 90 Days or More & Still Accruing | $ 0 | $ 0 |
Loans (Schedule of Aging of Rec
Loans (Schedule of Aging of Recorded Investment in Past Due Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | $ 1,523,370 | [1],[2] | $ 1,457,768 | [3],[4] |
Loans Past Due | 6,455 | [2] | 6,942 | [4] |
Loans Not Past Due | 1,516,915 | [2] | 1,450,826 | [4] |
Accrued interest | 6,085 | 5,778 | ||
Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 405,920 | [1] | 380,851 | [3] |
Loans Past Due | 556 | 776 | ||
Loans Not Past Due | 405,364 | 380,075 | ||
Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 601,996 | [1] | 584,426 | [3] |
Loans Past Due | 1,249 | 1,267 | ||
Loans Not Past Due | 600,747 | 583,159 | ||
Agricultural Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 239,672 | [1] | 219,640 | [3] |
Loans Past Due | 0 | 100 | ||
Loans Not Past Due | 239,672 | 219,540 | ||
Home Equity Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 91,178 | [1] | 86,570 | [3] |
Loans Past Due | 635 | 469 | ||
Loans Not Past Due | 90,543 | 86,101 | ||
Consumer Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 47,602 | [1] | 48,732 | [3] |
Loans Past Due | 563 | 235 | ||
Loans Not Past Due | 47,039 | 48,497 | ||
Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 137,002 | [1] | 137,549 | [3] |
Loans Past Due | 3,452 | 4,095 | ||
Loans Not Past Due | 133,550 | 133,454 | ||
30-59 Days Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 3,355 | [2] | 3,532 | [4] |
30-59 Days Past Due | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 444 | 628 | ||
30-59 Days Past Due | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 0 | 504 | ||
30-59 Days Past Due | Agricultural Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 0 | 25 | ||
30-59 Days Past Due | Home Equity Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 364 | 197 | ||
30-59 Days Past Due | Consumer Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 409 | 132 | ||
30-59 Days Past Due | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 2,138 | 2,046 | ||
60-89 Days Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 398 | [2] | 371 | [4] |
60-89 Days Past Due | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 44 | 0 | ||
60-89 Days Past Due | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 39 | 10 | ||
60-89 Days Past Due | Agricultural Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 0 | 0 | ||
60-89 Days Past Due | Home Equity Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 45 | 4 | ||
60-89 Days Past Due | Consumer Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 60 | 28 | ||
60-89 Days Past Due | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 210 | 329 | ||
90 Days or More Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 2,702 | [2] | 3,039 | [4] |
90 Days or More Past Due | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 68 | 148 | ||
90 Days or More Past Due | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 1,210 | 753 | ||
90 Days or More Past Due | Agricultural Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 0 | 75 | ||
90 Days or More Past Due | Home Equity Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 226 | 268 | ||
90 Days or More Past Due | Consumer Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 94 | 75 | ||
90 Days or More Past Due | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 1,104 | 1,720 | ||
Receivables Acquired with Deteriorated Credit Quality | Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 6,924 | 8,361 | ||
Loans Past Due | 36 | 648 | ||
Loans Not Past Due | 6,888 | 7,713 | ||
Receivables Acquired with Deteriorated Credit Quality | 30-59 Days Past Due | Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 36 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality | 60-89 Days Past Due | Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality | 90 Days or More Past Due | Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans Past Due | $ 0 | $ 648 | ||
[1] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[2] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[3] | Total recorded investment in loans includes $5,778 in accrued interest. | |||
[4] | Total recorded investment in loans includes $5,778 in accrued interest. |
Loans (Schedule of Recorded I45
Loans (Schedule of Recorded Investment of Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | |||
Total | $ 4,035 | $ 4,650 | |
Commercial and Industrial Loans and Leases | |||
Financing Receivable, Modifications [Line Items] | |||
Total | 1,541 | 1,809 | |
Commercial Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Total | 2,494 | 2,841 | |
Performing | |||
Financing Receivable, Modifications [Line Items] | |||
Total | 2,346 | 2,763 | |
Performing | Commercial and Industrial Loans and Leases | |||
Financing Receivable, Modifications [Line Items] | |||
Total | 1,539 | 1,803 | |
Performing | Commercial Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Total | 807 | 960 | |
Non-Accrual | |||
Financing Receivable, Modifications [Line Items] | |||
Total | [1] | 1,689 | 1,887 |
Non-Accrual | Commercial and Industrial Loans and Leases | |||
Financing Receivable, Modifications [Line Items] | |||
Total | [1] | 2 | 6 |
Non-Accrual | Commercial Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Total | [1] | $ 1,687 | $ 1,881 |
[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 Restructuring) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 201 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 197 |
Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 201 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 197 |
Loans (Schedule of Troubled Deb
Loans (Schedule of Troubled Debt Restructuring, Subsequently Defaulted) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 1 | 1 | 1 |
Recorded Investment | $ 0 | $ 186 | $ 95 | $ 186 |
Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 0 | 0 |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 1 | 1 | 1 |
Recorded Investment | $ 0 | $ 186 | $ 95 | $ 186 |
Loans (Schedule of Risk Categor
Loans (Schedule of Risk Category of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | $ 1,523,370 | [1],[2] | $ 1,457,768 | [3],[4] |
Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 405,920 | [1] | 380,851 | [3] |
Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 601,996 | [1] | 584,426 | [3] |
Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 239,672 | [1] | 219,640 | [3] |
Pass | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 1,175,347 | 1,112,028 | ||
Pass | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 377,189 | 351,250 | ||
Pass | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 565,396 | 545,804 | ||
Pass | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 232,762 | 214,974 | ||
Special Mention | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 47,370 | 46,019 | ||
Special Mention | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 16,682 | 18,387 | ||
Special Mention | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 23,879 | 23,421 | ||
Special Mention | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 6,809 | 4,211 | ||
Substandard | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 24,871 | 26,870 | ||
Substandard | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 12,049 | 11,214 | ||
Substandard | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 12,721 | 15,201 | ||
Substandard | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 101 | 455 | ||
Doubtful | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 0 | 0 | ||
Doubtful | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 0 | 0 | ||
Doubtful | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 0 | 0 | ||
Doubtful | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 0 | 0 | ||
Total | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 1,247,588 | 1,184,917 | ||
Total | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 405,920 | 380,851 | ||
Total | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 601,996 | 584,426 | ||
Total | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans and leases | 239,672 | 219,640 | ||
Receivables Acquired with Deteriorated Credit Quality | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 6,924 | 8,361 | ||
Receivables Acquired with Deteriorated Credit Quality | Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 674 | 354 | ||
Receivables Acquired with Deteriorated Credit Quality | Commercial Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 5,376 | 6,385 | ||
Receivables Acquired with Deteriorated Credit Quality | Agricultural Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality | Pass | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 926 | 651 | ||
Receivables Acquired with Deteriorated Credit Quality | Special Mention | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 1,723 | 1,697 | ||
Receivables Acquired with Deteriorated Credit Quality | Substandard | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 3,401 | 4,391 | ||
Receivables Acquired with Deteriorated Credit Quality | Doubtful | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality | Total | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ 6,050 | $ 6,739 | ||
[1] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[2] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[3] | Total recorded investment in loans includes $5,778 in accrued interest. | |||
[4] | Total recorded investment in loans includes $5,778 in accrued interest. |
Loans (Schedule of Recorded I49
Loans (Schedule of Recorded Investment in Home Equity, Consumer and Residential Mortgage Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | $ 1,523,370 | [1],[2] | $ 1,457,768 | [3],[4] |
Home Equity Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 91,178 | [1] | 86,570 | [3] |
Consumer Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 47,602 | [1] | 48,732 | [3] |
Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 137,002 | [1] | 137,549 | [3] |
Performing | Home Equity Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 90,952 | 86,302 | ||
Performing | Consumer Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 47,508 | 48,536 | ||
Performing | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 135,753 | 135,664 | ||
Nonperforming | Home Equity Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 226 | 268 | ||
Nonperforming | Consumer Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 94 | 196 | ||
Nonperforming | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total loans | 1,249 | 1,885 | ||
Receivables Acquired with Deteriorated Credit Quality | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 6,924 | 8,361 | ||
Receivables Acquired with Deteriorated Credit Quality | Home Equity Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 0 | 0 | ||
Receivables Acquired with Deteriorated Credit Quality | Consumer Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | 0 | 118 | ||
Receivables Acquired with Deteriorated Credit Quality | Residential Mortgage Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ 874 | $ 1,504 | ||
[1] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[2] | Total recorded investment in loans includes $6,085 in accrued interest. | |||
[3] | Total recorded investment in loans includes $5,778 in accrued interest. | |||
[4] | Total recorded investment in loans includes $5,778 in accrued interest. |
Loans (Schedule of Carrying Amo
Loans (Schedule of Carrying Amount of Loans with Deterioration of Credit Quality) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Carrying Amount, Net of Allowance | $ 6,924 | $ 8,307 |
Receivables Acquired with Deteriorated Credit Quality | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 6,924 | 8,361 |
Receivables Acquired with Deteriorated Credit Quality | Commercial and Industrial Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 674 | 354 |
Receivables Acquired with Deteriorated Credit Quality | Commercial Real Estate Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 5,376 | 6,385 |
Receivables Acquired with Deteriorated Credit Quality | Home Equity Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 0 | 0 |
Receivables Acquired with Deteriorated Credit Quality | Consumer Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 0 | 118 |
Receivables Acquired with Deteriorated Credit Quality | Residential Mortgage Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | $ 874 | $ 1,504 |
Loans (Schedule of Accretable Y
Loans (Schedule of Accretable Yield, or Income Expected to be Collected) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Beginning Balance | $ 1,680 | $ 1,126 | $ 1,685 | $ 1,279 |
New Loans Purchased | 0 | 0 | 0 | 0 |
Accretion of Income | (251) | (89) | (333) | (242) |
Reclassifications from Non-accretable Difference | 0 | 0 | 104 | 0 |
Charge-off of Accretable Yield | 0 | (113) | (27) | (113) |
Ending Balance | $ 1,429 | $ 924 | $ 1,429 | $ 924 |
Loans (Additional Information)
Loans (Additional Information) (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loans modified as troubled debt restructurings | loan | 0 | 0 | 0 | 1 | |
Increase (decrease) in allowance for loan losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Charge-offs due to troubled debt restructurings | 0 | 0 | 0 | 0 | |
Additional lending amount to customers whose loan terms has been modified in troubled debt restructuring | 0 | 0 | $ 0 | ||
Carrying amount of consumer mortgage loans secured by residential real estate properties | 123,000 | 123,000 | $ 288,000 | ||
Troubled Debt Restructuring that Subsequently Defaulted | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Charge-offs due to troubled debt restructurings | 0 | 0 | 95,000 | 0 | |
Increase (decrease) in allowance for loan losses | 0 | 0 | 0 | 0 | |
Loans Purchased | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Increase (decrease) in allowance for loan losses | 0 | 0 | 0 | 0 | |
Loan losses reversed | $ 0 | $ 0 | $ 0 | $ 0 |
Repurchase Agreements Account53
Repurchase Agreements Accounted for as Secured Borrowings (Details) $ in Thousands | Sep. 30, 2015USD ($) |
FHLB Advances and Other Borrowings | Collateralized Mortgage Backed Securities | Maturity Overnight | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |
Total repurchased agreement | $ 17,079 |
Stock Repurchase Plan (Addition
Stock Repurchase Plan (Additional Information) (Details) - shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Apr. 26, 2001 | |
Stockholders' Equity Note [Abstract] | |||||
Common stock, authorized shares repurchase (up to) | 607,754 | ||||
Common stock, total shares repurchased | 334,965 | 334,965 | |||
Common stock, shares purchased | 0 | 0 | 0 | 0 |
Segment Information (Additional
Segment Information (Additional Information) (Details) | 9 Months Ended |
Sep. 30, 2015segmentoffice | |
Segment Reporting [Abstract] | |
Number of operating segments | segment | 3 |
Number of offices | 37 |
Segment Information (Segment Fi
Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Net Interest Income | $ 18,859 | $ 18,791 | $ 56,114 | $ 55,308 | |
Net Gains on Sales of Loans | 831 | 613 | 2,364 | 1,475 | |
Net Gains on Securities | 0 | 567 | 725 | 1,039 | |
Trust and Investment Product Fees | 1,051 | 901 | 2,974 | 2,728 | |
Insurance Revenues | 1,752 | 1,739 | 5,812 | 5,777 | |
Noncash Items: | |||||
Provision for Loan Losses | (500) | 0 | 0 | 550 | |
Depreciation and Amortization | 1,047 | 1,189 | 3,254 | 3,611 | |
Income Tax Expense (Benefit) | 2,429 | 3,438 | 8,668 | 8,967 | |
Segment Profit (Loss) | 7,721 | 7,708 | 22,352 | 20,700 | |
Segment Assets | 2,313,210 | 2,313,210 | $ 2,237,099 | ||
Core Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 18,961 | 18,908 | 56,402 | 55,655 | |
Net Gains on Sales of Loans | 831 | 613 | 2,364 | 1,475 | |
Net Gains on Securities | 0 | 567 | 698 | 1,039 | |
Trust and Investment Product Fees | 1 | 2 | 3 | 4 | |
Insurance Revenues | 8 | 15 | 19 | 20 | |
Noncash Items: | |||||
Provision for Loan Losses | (500) | 0 | 0 | 550 | |
Depreciation and Amortization | 980 | 1,120 | 3,045 | 3,395 | |
Income Tax Expense (Benefit) | 2,571 | 3,496 | 8,709 | 8,940 | |
Segment Profit (Loss) | 7,702 | 7,540 | 21,650 | 19,908 | |
Segment Assets | 2,307,765 | 2,307,765 | 2,242,456 | ||
Trust and Investment Advisory Services | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 0 | 4 | 8 | 12 | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 0 | 0 | |
Trust and Investment Product Fees | 1,053 | 899 | 2,974 | 2,724 | |
Insurance Revenues | 15 | 22 | 33 | 33 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 2 | 5 | 15 | 18 | |
Income Tax Expense (Benefit) | (1) | (15) | (13) | (122) | |
Segment Profit (Loss) | (14) | (30) | (47) | (202) | |
Segment Assets | 1,493 | 1,493 | 11,401 | ||
Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 2 | 1 | 4 | 3 | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 0 | 0 | |
Trust and Investment Product Fees | 0 | 0 | 0 | 0 | |
Insurance Revenues | 1,729 | 1,702 | 5,760 | 5,724 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 27 | 26 | 81 | 85 | |
Income Tax Expense (Benefit) | 84 | 147 | 576 | 747 | |
Segment Profit (Loss) | 140 | 216 | 874 | 1,078 | |
Segment Assets | 7,410 | 7,410 | 6,429 | ||
Other | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | (104) | (122) | (300) | (362) | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 27 | 0 | |
Trust and Investment Product Fees | (3) | 0 | (3) | 0 | |
Insurance Revenues | 0 | 0 | 0 | 0 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 38 | 38 | 113 | 113 | |
Income Tax Expense (Benefit) | (225) | (190) | (604) | (598) | |
Segment Profit (Loss) | (107) | $ (18) | (125) | $ (84) | |
Segment Assets | $ (3,458) | $ (3,458) | $ (23,187) |
Equity Plans and Equity Based57
Equity Plans and Equity Based Compensation (Additional Information) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)Planshares | Sep. 30, 2014USD ($)shares | Sep. 30, 2015USD ($)Planinstallmentshares | Sep. 30, 2014USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, number of plans | Plan | 3 | 3 | ||
Number of shares available for grant | shares | 390,033 | 390,033 | ||
Stock compensation expense | $ 134,000 | $ 101,000 | $ 438,000 | $ 300,000 |
Stock granted during period percentage | 60.00% | |||
Stock cash credit entitlement percentage | 40.00% | |||
Number of equal installments | installment | 3 | |||
Vested in period percentage | 33.30% | |||
Stock issued during period | shares | 102 | 0 | 33,480 | 31,080 |
Unrecognized stock expenses in restricted stock | $ 1,808,000 | $ 1,616,000 | ||
Discount from market price, offering date | 95.00% | |||
Director | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vested in period percentage | 100.00% | |||
Employee Stock Option | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of options granted | shares | 0 | 0 | 0 | 0 |
Stock compensation expense | $ 0 | $ 0 | $ 0 | $ 0 |
Unrecognized option expense | $ 0 | 0 | $ 0 | 0 |
Employee Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for grant | shares | 500,000 | 500,000 | ||
Stock compensation expense | $ 22,000 | 0 | $ 22,000 | 0 |
Unrecognized option expense | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value (Additional Informat
Fair Value (Additional Information) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Loan held for sale, at fair value | $ 6,410,000 | $ 6,410,000 | $ 6,311,000 | ||
Contractual principal balance of Loan held for sale | 6,290,000 | 6,290,000 | 6,227,000 | ||
Difference in amount of loan held for sale | 120,000 | 120,000 | 84,000 | ||
Valuation allowance for loans losses | 1,688,000 | 1,688,000 | 1,542,000 | ||
Cost of real estate sales | 0 | $ 83,000 | 0 | $ 83,000 | |
Other real estate, carrying value | 0 | 0 | 68,000 | ||
Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 625,144,000 | 625,144,000 | 630,995,000 | ||
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 9,359,000 | 9,359,000 | 10,494,000 | ||
Obligations of State and Political Subdivisions | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Total Gains or (Losses) (realized/unrealized) Included in Other Comprehensive Income | 25,000 | (12,000) | (20,000) | 143,000 | |
Obligations of State and Political Subdivisions | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 193,342,000 | 193,342,000 | 153,777,000 | ||
Total Gains or (Losses) (realized/unrealized) Included in Other Comprehensive Income | 25,000 | (12,000) | (20,000) | 143,000 | |
Obligations of State and Political Subdivisions | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 9,006,000 | 9,006,000 | 10,141,000 | ||
Equity Securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Total Gains or (Losses) (realized/unrealized) Included in Earnings | 0 | 0 | 0 | ||
Equity Securities | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 353,000 | 353,000 | 353,000 | ||
Total Gains or (Losses) (realized/unrealized) Included in Other Comprehensive Income | 0 | 0 | 0 | 0 | |
Equity Securities | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 353,000 | 353,000 | 353,000 | ||
Commercial Real Estate | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Impaired loans, carrying amount | 3,467,000 | 3,467,000 | 3,043,000 | ||
Valuation allowance for loans losses | 1,655,000 | 1,655,000 | 1,539,000 | ||
Provision for loan losses | $ 78,000 | $ 113,000 | $ 261,000 | ||
Provision for loan lease and other losses | $ 30,000 | $ 187,000 |
Equity Plans and Equity Based59
Equity Plans and Equity Based Compensation (Expense Recorded For Restricted Stock And Cash Entitlements) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Restricted Stock Expense | $ 227 | $ 161 | $ 737 | $ 482 |
Cash Entitlement Expense | 134 | 101 | 438 | 300 |
Tax Effect | (146) | (106) | (476) | (317) |
Net of Tax | $ 215 | $ 156 | $ 699 | $ 465 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Securities | $ 625,144 | $ 630,995 |
Loans Held-for-Sale | 6,410 | 6,311 |
Derivative Assets | 1,433 | 507 |
Derivative Liabilities | 1,462 | 508 |
U.S. Treasury and Agency Securities | ||
Assets: | ||
Securities | 9,970 | 19,561 |
Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 193,342 | 153,777 |
Mortgage-backed Securities - Residential | ||
Assets: | ||
Securities | 421,479 | 457,304 |
Equity Securities | ||
Assets: | ||
Securities | 353 | 353 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Assets: | ||
Securities | 0 | 0 |
Loans Held-for-Sale | 0 | 0 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury and Agency Securities | ||
Assets: | ||
Securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed Securities - Residential | ||
Assets: | ||
Securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity Securities | ||
Assets: | ||
Securities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Securities | 615,785 | 620,501 |
Loans Held-for-Sale | 6,410 | 6,311 |
Derivative Assets | 1,433 | 507 |
Derivative Liabilities | 1,462 | 508 |
Significant Other Observable Inputs (Level 2) | U.S. Treasury and Agency Securities | ||
Assets: | ||
Securities | 9,970 | 19,561 |
Significant Other Observable Inputs (Level 2) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 184,336 | 143,636 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed Securities - Residential | ||
Assets: | ||
Securities | 421,479 | 457,304 |
Significant Other Observable Inputs (Level 2) | Equity Securities | ||
Assets: | ||
Securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Securities | 9,359 | 10,494 |
Loans Held-for-Sale | 0 | 0 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | U.S. Treasury and Agency Securities | ||
Assets: | ||
Securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 9,006 | 10,141 |
Significant Unobservable Inputs (Level 3) | Mortgage-backed Securities - Residential | ||
Assets: | ||
Securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Equity Securities | ||
Assets: | ||
Securities | $ 353 | $ 353 |
Fair Value (Reconciliation of a
Fair Value (Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Obligations of State and Political Subdivisions | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income | $ 25 | $ (12) | $ (20) | $ 143 |
Fair Value, Measurements, Recurring | Obligations of State and Political Subdivisions | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance of Recurring Level 3 Assets | 9,521 | 10,562 | 10,141 | 10,832 |
Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income | 25 | (12) | (20) | 143 |
Maturities / Calls | (540) | (430) | (1,115) | (855) |
Purchases | 0 | 0 | 0 | 0 |
Ending Balance of Recurring Level 3 Assets | 9,006 | 10,120 | 9,006 | 10,120 |
Fair Value, Measurements, Recurring | Equity Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance of Recurring Level 3 Assets | 353 | 353 | 353 | 353 |
Total Gains or Losses (realized/unrealized) Included in Other Comprehensive Income | 0 | 0 | 0 | 0 |
Maturities / Calls | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Ending Balance of Recurring Level 3 Assets | $ 353 | $ 353 | $ 353 | $ 353 |
Fair Value (Assets and Liabil62
Fair Value (Assets and Liabilities Measured at Fair Value on Non-Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired Loans | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | $ 426 | $ 0 |
Impaired Loans | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 1,386 | 1,504 |
Impaired Loans | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Other Real Estate | Commercial Real Estate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 68 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired Loans | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Real Estate | Commercial Real Estate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Other Real Estate | Commercial Real Estate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 426 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 1,386 | 1,504 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Other Real Estate | Commercial Real Estate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | $ 0 | $ 68 |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information of Fair Value Measurements) (Details) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired Loans | Commercial and Industrial Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 426 | |
Impaired Loans | Commercial and Industrial Loans | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 69.00% | |
Impaired Loans | Commercial and Industrial Loans | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 100.00% | |
Impaired Loans | Commercial and Industrial Loans | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 69.00% | |
Impaired Loans | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 1,386 | $ 1,504 |
Impaired Loans | Commercial Real Estate Loans | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 30.00% | 30.00% |
Impaired Loans | Commercial Real Estate Loans | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 93.00% | 86.00% |
Impaired Loans | Commercial Real Estate Loans | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 74.00% | 71.00% |
Other Real Estate | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 68 | |
Other Real Estate | Commercial Real Estate Loans | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 55.00% | |
Other Real Estate | Commercial Real Estate Loans | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 55.00% |
Fair Value (Carrying Amounts an
Fair Value (Carrying Amounts and Estimated Fair Values of Company's Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||
Securities Held-to-Maturity | $ 95 | $ 184 |
Loans, Net | 1,498,810 | 1,433,053 |
FHLB Stock and Other Restricted Stock | 8,167 | 7,040 |
Financial Liabilities: | ||
Time Deposits | (345,368) | (333,425) |
Level 1 | ||
Financial Assets: | ||
Cash and Short-term Investments | 39,998 | 33,481 |
Securities Held-to-Maturity | 0 | 0 |
Loans, Net | 0 | 0 |
Accrued Interest Receivable | 0 | 0 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (1,458,467) | (1,446,336) |
Time Deposits | 0 | 0 |
Short-term Borrowings | 0 | 0 |
Long-term Debt | 0 | 0 |
Accrued Interest Payable | 0 | 0 |
Level 2 | ||
Financial Assets: | ||
Cash and Short-term Investments | 22,240 | 9,065 |
Securities Held-to-Maturity | 95 | 186 |
Loans, Net | 0 | 0 |
Accrued Interest Receivable | 2,819 | 2,240 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | 0 | 0 |
Time Deposits | (345,415) | (335,134) |
Short-term Borrowings | (139,479) | (141,473) |
Long-term Debt | (95,393) | (60,289) |
Accrued Interest Payable | (620) | (704) |
Level 3 | ||
Financial Assets: | ||
Cash and Short-term Investments | 0 | 0 |
Securities Held-to-Maturity | 0 | 0 |
Loans, Net | 1,500,221 | 1,432,622 |
Accrued Interest Receivable | 6,159 | 5,922 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | 0 | 0 |
Time Deposits | 0 | 0 |
Short-term Borrowings | 0 | 0 |
Long-term Debt | (5,513) | (5,429) |
Accrued Interest Payable | (7) | (50) |
Carrying Value | ||
Financial Assets: | ||
Cash and Short-term Investments | 62,238 | 42,546 |
Securities Held-to-Maturity | 95 | 184 |
Loans, Net | 1,496,998 | 1,431,549 |
FHLB Stock and Other Restricted Stock | 8,167 | 7,040 |
Accrued Interest Receivable | 8,978 | 8,162 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (1,458,467) | (1,446,336) |
Time Deposits | (345,368) | (333,425) |
Short-term Borrowings | (139,479) | (141,473) |
Long-term Debt | (99,593) | (64,591) |
Accrued Interest Payable | (627) | (754) |
Total | ||
Financial Assets: | ||
Cash and Short-term Investments | 62,238 | 42,546 |
Securities Held-to-Maturity | 95 | 186 |
Loans, Net | 1,500,221 | 1,432,622 |
Accrued Interest Receivable | 8,978 | 8,162 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (1,458,467) | (1,446,336) |
Time Deposits | (345,415) | (335,134) |
Short-term Borrowings | (139,479) | (141,473) |
Long-term Debt | (100,906) | (65,718) |
Accrued Interest Payable | $ (627) | $ (754) |
Other Comprehensive Income (L65
Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income, Beginning Balance | $ 423 | $ (162) | $ 2,890 | $ (5,263) |
Other Comprehensive Income (Loss) Before Reclassification | 4,161 | 577 | 2,165 | 5,984 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | (369) | (471) | (675) |
Total Other Comprehensive Income (Loss) | 4,161 | 208 | 1,694 | 5,309 |
Accumulated other comprehensive income, Ending Balance | 4,584 | 46 | 4,584 | 46 |
Unrealized Gains and Losses on Available-for-Sale Securities | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income, Beginning Balance | 491 | (130) | 2,958 | (5,231) |
Other Comprehensive Income (Loss) Before Reclassification | 4,161 | 577 | 2,165 | 5,984 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | (369) | (471) | (675) |
Total Other Comprehensive Income (Loss) | 4,161 | 208 | 1,694 | 5,309 |
Accumulated other comprehensive income, Ending Balance | 4,652 | 78 | 4,652 | 78 |
Defined Benefit Pension Items | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income, Beginning Balance | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss) Before Reclassification | 0 | 0 | 0 | 0 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Total Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Accumulated other comprehensive income, Ending Balance | 0 | 0 | 0 | 0 |
Postretirement Benefit Items | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Accumulated other comprehensive income, Beginning Balance | (68) | (32) | (68) | (32) |
Other Comprehensive Income (Loss) Before Reclassification | 0 | 0 | 0 | 0 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Total Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Accumulated other comprehensive income, Ending Balance | $ (68) | $ (32) | $ (68) | $ (32) |
Other Comprehensive Income (L66
Other Comprehensive Income (Loss) (Classifications out of accumulated other comprehensive income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income Tax Expense | $ (2,429) | $ (3,438) | $ (8,668) | $ (8,967) |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | 0 | 369 | 471 | 675 |
Unrealized Gains and Losses on Available-for-Sale Securities | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net Gain (Loss) on Securities | 0 | 567 | 725 | 1,039 |
Income Tax Expense | 0 | (198) | (254) | (364) |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | $ 0 | $ 369 | $ 471 | $ 675 |
Newly Issued Accounting Prono67
Newly Issued Accounting Pronouncements (Additional Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Accrued Interest Receivable and Other Assets | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investments in qualified housing projects | $ 5,800 | $ 5,800 | $ 6,100 | ||
Accrued Interest Payable and Other Liabilities | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Unfunded investment in qualified affordable housing investments | 4,400 | 4,400 | $ 4,800 | ||
Income Tax Expense | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Low income housing investment tax credit (loss), amortization method | 42 | $ (38) | |||
Low income housing investment (benefit) losses, equity method | $ (35) | $ (105) | |||
Other Operating Expense | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Low income housing investment (benefit) losses, equity method | $ 22 | $ 65 | |||
FASB Issued Guidance For Qualified Housing Projects | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Low income housing investment loss, due to adoption of amortization method | $ 161 |
Subsequent Events (Details)
Subsequent Events (Details) $ / shares in Units, $ in Thousands | Oct. 22, 2015$ / shares | Mar. 31, 2016USD ($)$ / sharesshares | Sep. 30, 2015USD ($)office | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)office | Sep. 30, 2014USD ($) | Oct. 26, 2015office | Dec. 31, 2014USD ($) |
Subsequent Event [Line Items] | ||||||||
Number of offices | office | 37 | 37 | ||||||
Assets | $ 2,313,210 | $ 2,313,210 | $ 2,237,099 | |||||
Equity | 247,352 | 247,352 | $ 228,824 | |||||
NET INCOME | 7,721 | $ 7,708 | 22,352 | $ 20,700 | ||||
River Valley | ||||||||
Subsequent Event [Line Items] | ||||||||
Assets | 513,700 | 513,700 | ||||||
Equity | $ 55,600 | 55,600 | ||||||
NET INCOME | $ 4,300 | |||||||
River Valley | Subsequent Event | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of offices | office | 14 | |||||||
Volume weighted average price per share, number of days | 20 days | |||||||
Present indicated value (USD per share) | $ / shares | $ 33 | |||||||
Scenario, Forecast | River Valley | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of the Company's common stock for each share of RIVR converted | shares | 0.770 | |||||||
Cash portion, cash per share for RIVR common stock converted (USD per share) | $ / shares | $ 9.90 | |||||||
Shares of common stock issued for acquisition | $ 1,940 | |||||||
Cash paid for acquisition | 25,000 | |||||||
Aggregate indicated value | 83,500 | |||||||
Cash payments for cancellation of stock options | $ 500 | |||||||
Common Stock | Weighted Average | Subsequent Event | ||||||||
Subsequent Event [Line Items] | ||||||||
Share price (USD per share) | $ / shares | $ 30.02 |