Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 14-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | USBI | |
Entity Registrant Name | UNITED SECURITY BANCSHARES INC | |
Entity Central Index Key | 717806 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,043,292 |
Interim_Condensed_Consolidated
Interim Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $8,396 | $9,697 |
Interest bearing deposits in banks | 21,921 | 24,469 |
Total cash and cash equivalents | 30,317 | 34,166 |
Investment securities available-for-sale, at fair value | 209,790 | 204,966 |
Investment securities held-to-maturity, at amortized cost | 40,074 | 29,120 |
Federal Home Loan Bank stock, at cost | 740 | 738 |
Loans, net of allowance for loan losses of $5,401 and $6,168, respectively | 239,218 | 259,516 |
Premises and equipment, net | 10,505 | 9,764 |
Cash surrender value of bank-owned life insurance | 14,054 | 13,975 |
Accrued interest receivable | 1,941 | 2,235 |
Other real estate owned | 8,608 | 7,735 |
Other assets | 9,635 | 10,394 |
Total assets | 564,882 | 572,609 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 475,288 | 483,659 |
Accrued interest expense | 208 | 221 |
Other liabilities | 7,961 | 8,131 |
Short-term borrowings | 680 | 436 |
Long-term debt | 5,000 | 5,000 |
Total liabilities | 489,137 | 497,447 |
Commitments and contingencies | ||
Shareholders’ equity: | ||
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,329,060 shares issued; 6,034,059 shares outstanding | 73 | 73 |
Surplus | 9,615 | 9,577 |
Accumulated other comprehensive income, net of tax | 1,659 | 1,829 |
Retained earnings | 85,297 | 84,582 |
Less treasury stock: 1,295,001 shares at cost | -20,886 | -20,886 |
Noncontrolling interest | -13 | -13 |
Total shareholders’ equity | 75,745 | 75,162 |
Total liabilities and shareholders’ equity | $564,882 | $572,609 |
Interim_Condensed_Consolidated1
Interim Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ||
Loans, allowance for loan losses | $5,401 | $6,168 |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 10,000,000 | 10,000,000 |
Common Stock, shares issued | 7,329,060 | 7,329,060 |
Common Stock, shares outstanding | 6,034,059 | 6,034,059 |
Treasury Stock, shares | 1,295,001 | 1,295,001 |
Interim_Condensed_Consolidated2
Interim Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest income: | ||
Interest and fees on loans | $6,135 | $6,797 |
Interest on investment securities | 1,186 | 1,049 |
Total interest income | 7,321 | 7,846 |
Interest expense: | ||
Interest on deposits | 607 | 637 |
Interest on borrowings | 7 | 8 |
Total interest expense | 614 | 645 |
Net interest income | 6,707 | 7,201 |
Provision (reduction in reserve) for loan losses | -166 | 414 |
Net interest income after provision (reduction in reserve) for loan losses | 6,873 | 6,787 |
Non-interest income: | ||
Service and other charges on deposit accounts | 454 | 500 |
Credit insurance income | 75 | 140 |
Other income | 762 | 507 |
Total non-interest income | 1,291 | 1,147 |
Non-interest expense: | ||
Salaries and employee benefits | 4,192 | 4,082 |
Net occupancy and equipment | 823 | 815 |
Other real estate/foreclosure expense, net | 220 | 100 |
Other expense | 1,742 | 1,887 |
Total non-interest expense | 6,977 | 6,884 |
Income before income taxes | 1,187 | 1,050 |
Provision for income taxes | 351 | 276 |
Net income | $836 | $774 |
Basic net income per share | $0.14 | $0.13 |
Diluted net income per share | $0.13 | $0.13 |
Dividends per share | $0.02 |
Interim_Condensed_Consolidated3
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $836 | $774 |
Other comprehensive income: | ||
Change in unrealized holding gains on available-for-sale securities arising during period, net of tax expense of $2 and $245, respectively | 4 | 524 |
Reclassification adjustment for net gains realized on available-for-sale securities realized in net income, net of tax of $103 and $34, respectively | -174 | -58 |
Other comprehensive income (loss) | -170 | 466 |
Total comprehensive income | $666 | $1,240 |
Interim_Condensed_Consolidated4
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement Of Income And Comprehensive Income [Abstract] | ||
Tax effect on change in unrealized holding gains(losses)on available-for-sale securities arising during period | $2 | $245 |
Tax on reclassification adjustment for net gains realized on available-for-sale securities realized in net income | $103 | $34 |
Interim_Condensed_Consolidated5
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $836 | $774 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 213 | 180 |
Provision (reduction in reserve) for loan losses | -166 | 414 |
Deferred income tax provision | 350 | 871 |
Net gain on sale of securities | -277 | -92 |
Stock-based compensation expense | 75 | 38 |
Net amortization of securities | 423 | 212 |
Net (gain) loss on premises and equipment and other real estate | 174 | -34 |
Changes in assets and liabilities: | ||
Decrease in accrued interest receivable | 294 | 496 |
Decrease in other assets | 883 | 1,091 |
Decrease in accrued interest expense | -13 | -28 |
Decrease in other liabilities | -207 | -834 |
Net cash provided by operating activities | 2,585 | 3,088 |
Cash flows from investing activities: | ||
Purchase of investment securities, available-for-sale | -29,589 | -22,697 |
Purchase of investment securities, held-to-maturity | -12,394 | -4,016 |
Proceeds from sales of investment securities, available-for-sale | 14,553 | 1,095 |
Proceeds from maturities and prepayments of investment securities, available-for-sale | 9,853 | 7,142 |
Proceeds from maturities and prepayments of investment securities, held-to-maturity | 1,381 | |
Proceeds from redemption of Federal Home Loan Bank stock | 168 | |
Proceeds from the sale of premises and equipment and other real estate | 182 | 1,280 |
Purchase of Federal Home Loan Bank stock | -3 | |
Net change in loan portfolio | 19,234 | 21,476 |
Purchase of premises and equipment | -1,403 | -721 |
Net cash provided by investing activities | 1,814 | 3,727 |
Cash flows from financing activities: | ||
Net increase (decrease) in customer deposits | -8,371 | 5,913 |
Increase (decrease) in short-term borrowings | 244 | -428 |
Dividends paid | -121 | |
Net cash (used in) provided by financial activities | -8,248 | 5,485 |
Net increase (decrease) in cash and cash equivalents | -3,849 | 12,300 |
Cash and cash equivalents, beginning of period | 34,166 | 47,720 |
Cash and cash equivalents, end of period | 30,317 | 60,020 |
Cash paid for: | ||
Interest | 627 | 673 |
Income taxes | 6 | |
Non-cash transactions: | ||
Foreclosed assets acquired in settlement of loans | 1,230 | 2,320 |
Reissuance of treasury stock as compensation | $14 |
General
General | 3 Months Ended | |
Mar. 31, 2015 | ||
Accounting Policies [Abstract] | ||
General | 1 | GENERAL |
The accompanying unaudited interim condensed consolidated financial statements include the accounts of United Security Bancshares, Inc. (“USBI”) and its subsidiaries (collectively, the “Company”). USBI is the parent holding company of First US Bank (the “Bank” or “FUSB”). The Bank operates a finance company, Acceptance Loan Company, Inc. (“ALC”). All significant intercompany transactions and accounts have been eliminated. | ||
The unaudited interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments necessary for a fair presentation of consolidated financial position, results of operations and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. The results of operations for any interim period are not necessarily indicative of results expected for the fiscal year ending December 31, 2015. While certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), management believes that the disclosures herein are adequate to make the information presented not misleading. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in USBI’s Annual Report on Form 10-K for the year ended December 31, 2014. The accounting policies followed by the Company are set forth in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in USBI’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain amounts in the 2014 condensed consolidated financial statements have been reclassified to conform to the 2015 method of presentation. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended | |
Mar. 31, 2015 | ||
Accounting Changes And Error Corrections [Abstract] | ||
Recent Accounting Pronouncements | 2 | RECENT ACCOUNTING PRONOUNCEMENTS |
In January 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). ASU 2014-04 clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (i) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (ii) 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. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate properties that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014 and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The adoption of ASU 2014-04 did not have a significant impact on the Company’s consolidated balance sheets, results of operations or cash flows. | ||
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact, if any, that ASU 2014-09 will have on its consolidated financial statements. | ||
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Residential Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. ASU 2014-14 also provides that, upon foreclosure, the separate other receivable would be measured based on the current amount of the loan balance (principal and interest) expected to be recovered under the guarantee. ASU 2014-14 became effective for the Company on January 1, 2015 and was applied using the prospective transition method as described in ASU 2014-14. The adoption of ASU 2014-14 did not have a material impact on the Company’s consolidated financial statements. | ||
In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability companies and securitization structures. The ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. The new standard simplifies and improves current GAAP by: (i) placing more emphasis on risk of loss when determining a controlling financial interest; (ii) reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity (“VIE”); and (iii) changing consolidation conclusions for companies in several industries that typically make use of limited partnerships or VIEs. The ASU will be effective for periods beginning after December 15, 2015. The Company is evaluating the potential impact on the Company’s consolidated financial statements. | ||
Net_Income_Per_Share
Net Income Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Net Income Per Share | 3 | NET INCOME PER SHARE | |||||||
Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Included in basic shares are certain shares that have been accrued as of the balance sheet date as deferred compensation for members of USBI’s Board of Directors. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. The dilutive shares are comprised of nonqualified stock option grants issued to employees and members of USBI’s Board of Directors pursuant to the United Security Bancshares, Inc. 2013 Incentive Plan (the “2013 Incentive Plan”) previously approved by USBI’s shareholders. The following table reflects weighted average shares used to calculate basic and diluted net income per share for the periods presented. | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Basic shares | 6,134,808 | 6,121,375 | |||||||
Dilutive shares | 177,050 | 10,750 | |||||||
Diluted shares | 6,311,858 | 6,132,125 | |||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(Dollars in Thousands, Except Per Share Data) | |||||||||
Net income | $ | 836 | $ | 774 | |||||
Basic net income per share | $ | 0.14 | $ | 0.13 | |||||
Diluted net income per share | $ | 0.13 | $ | 0.13 | |||||
Comprehensive_Income
Comprehensive Income | 3 Months Ended | |
Mar. 31, 2015 | ||
Equity [Abstract] | ||
Comprehensive Income | 4 | COMPREHENSIVE INCOME |
Comprehensive income consists of net income and the change in the unrealized gains or losses on the Company’s available-for-sale securities portfolio arising during the period. In the calculation of comprehensive income, certain reclassification adjustments are made for any sale of investment securities to avoid double counting items that are displayed as part of net income for a period that also had been displayed as part of other comprehensive income in that period or earlier periods. | ||
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||
Investment Securities | 5 | INVESTMENT SECURITIES | |||||||||||||||
Details of investment securities available-for-sale and held-to-maturity as of March 31, 2015 and December 31, 2014 are as follows: | |||||||||||||||||
Available-for-Sale | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 136,318 | $ | 1,667 | $ | (224 | ) | $ | 137,761 | ||||||||
Commercial | 48,525 | 266 | (240 | ) | 48,551 | ||||||||||||
Obligations of states and political subdivisions | 15,075 | 1,165 | — | 16,240 | |||||||||||||
Obligations of U.S. government-sponsored agencies | 6,338 | 24 | — | 6,362 | |||||||||||||
Corporate notes | 798 | — | (2 | ) | 796 | ||||||||||||
U.S. Treasury securities | 80 | — | — | 80 | |||||||||||||
Total | $ | 207,134 | $ | 3,122 | $ | (466 | ) | $ | 209,790 | ||||||||
Held-to-Maturity | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Obligations of U.S. government-sponsored agencies | $ | 22,672 | $ | 40 | $ | (55 | ) | $ | 22,657 | ||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | 16,820 | 48 | (74 | ) | 16,794 | ||||||||||||
Obligations of states and political subdivisions | 582 | — | — | 582 | |||||||||||||
Total | $ | 40,074 | $ | 88 | $ | (129 | ) | $ | 40,033 | ||||||||
Available-for-Sale | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 139,980 | $ | 1,896 | $ | (192 | ) | $ | 141,684 | ||||||||
Commercial | 35,873 | 164 | (93 | ) | 35,944 | ||||||||||||
Obligations of states and political subdivisions | 15,673 | 1,241 | — | 16,914 | |||||||||||||
Obligations of U.S. government-sponsored agencies | 6,360 | 5 | (1 | ) | 6,364 | ||||||||||||
U.S. Treasury securities | 4,153 | — | (93 | ) | 4,060 | ||||||||||||
Total | $ | 202,039 | $ | 3,306 | $ | (379 | ) | $ | 204,966 | ||||||||
Held-to-Maturity | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | $ | 10,666 | $ | 65 | $ | (2 | ) | $ | 10,729 | ||||||||
Obligations of U.S. government-sponsored agencies | 17,870 | 19 | (52 | ) | 17,837 | ||||||||||||
Obligations of states and political subdivisions | 584 | 4 | — | 588 | |||||||||||||
Total | $ | 29,120 | $ | 88 | $ | (54 | ) | $ | 29,154 | ||||||||
The scheduled maturities of investment securities available-for-sale and held-to-maturity as of March 31, 2015 are presented in the following table: | |||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||
Cost | Fair | Cost | Fair | ||||||||||||||
Value | Value | ||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Maturing within one year | $ | 422 | $ | 422 | $ | — | $ | — | |||||||||
Maturing after one to five years | 8,975 | 9,381 | 971 | 958 | |||||||||||||
Maturing after five to ten years | 119,536 | 120,515 | 6,568 | 6,581 | |||||||||||||
Maturing after ten years | 78,201 | 79,472 | 32,535 | 32,494 | |||||||||||||
Total | $ | 207,134 | $ | 209,790 | $ | 40,074 | $ | 40,033 | |||||||||
For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on the weighted-average contractual maturities of underlying collateral. The mortgage-backed securities generally mature earlier than their weighted-average contractual maturities because of principal prepayments. | |||||||||||||||||
Management evaluates securities for other-than-temporary impairment no less frequently than quarterly and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer and (iii) whether the Company intends to sell securities, and whether it is more likely than not that the Company will be required to sell the securities before recovery of their amortized cost bases. As of March 31, 2015 and December 31, 2014, based on the aforementioned considerations, management did not record an other-than-temporary impairment on any security that was in an unrealized loss position. | |||||||||||||||||
The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2015 and December 31, 2014. | |||||||||||||||||
Available-for-Sale | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 31,006 | $ | (99 | ) | $ | 7,203 | $ | (125 | ) | |||||||
Commercial | 28,923 | (225 | ) | 1,256 | (15 | ) | |||||||||||
Corporate notes | 796 | (2 | ) | — | — | ||||||||||||
Total | $ | 60,725 | $ | (326 | ) | $ | 8,459 | $ | (140 | ) | |||||||
Held-to-Maturity | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | $ | 13,740 | $ | (74 | ) | $ | — | $ | — | ||||||||
Obligations of U.S. government-sponsored agencies | 3,957 | (13 | ) | 1,673 | (42 | ) | |||||||||||
Total | $ | 17,697 | $ | (87 | ) | $ | 1,673 | $ | (42 | ) | |||||||
Available-for-Sale | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 24,459 | $ | (67 | ) | $ | 7,630 | $ | (125 | ) | |||||||
Commercial | 19,069 | (70 | ) | 1,304 | (23 | ) | |||||||||||
Obligations of U.S. government-sponsored agencies | 1,999 | (1 | ) | — | — | ||||||||||||
Obligations of states and political subdivisions | 269 | — | — | — | |||||||||||||
U.S. Treasury securities | 80 | — | 3,980 | (93 | ) | ||||||||||||
Total | $ | 45,876 | $ | (138 | ) | $ | 12,914 | $ | (241 | ) | |||||||
Held-to-Maturity | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Obligations of U.S. government-sponsored agencies | $ | — | $ | — | $ | 11,664 | $ | (52 | ) | ||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | 538 | (2 | ) | — | — | ||||||||||||
Total | $ | 538 | $ | (2 | ) | $ | 11,664 | $ | (52 | ) | |||||||
As of March 31, 2015, five debt securities had been in a loss position for more than twelve months, and 51 debt securities had been in a loss position for less than twelve months. The losses for all securities are considered to be a direct result of the effect that the current interest rate environment has on the value of debt securities and not related to the creditworthiness of the issuers. Further, the Company has the current intent and ability to retain its investments in each issuer for a period of time that management believes to be sufficient to allow for any anticipated recovery in fair value. Therefore, the Company has not recognized any other-than-temporary impairments. | |||||||||||||||||
Investment securities available-for-sale with a carrying value of $66.3 million and $61.1 million as of March 31, 2015 and December 31, 2014, respectively, were pledged to secure public deposits and for other purposes. | |||||||||||||||||
Gains realized on sales of securities available-for-sale were approximately $0.3 million and $0.1 million for the three months ended March 31, 2015 and the year ended December 31, 2014, respectively. There were no losses on sales of securities during the three months ended March 31, 2015 or the year ended December 31, 2014. | |||||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | 6 | LOANS AND ALLOWANCE FOR LOAN LOSSES | |||||||||||||||||||||||||||
Portfolio Segments: | |||||||||||||||||||||||||||||
The Company has divided the loan portfolio into eight portfolio segments, each with different risk characteristics described as follows: | |||||||||||||||||||||||||||||
Construction, land development and other land loans – Commercial construction, land and land development loans include the development of residential housing projects, loans for the development of commercial and industrial use property and loans for the purchase and improvement of raw land. These loans are secured in whole or in part by the underlying real estate collateral and are generally guaranteed by the principals of the borrowing entity. | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties – These loans include conventional mortgage loans on one-to-four family residential properties. These properties may serve as the borrower’s primary residence, vacation home or investment property. Also included in this portfolio are home equity loans and lines of credit. This type of lending, which is secured by a first or second mortgage on the borrower’s residence, allows customers to borrow against the equity in their home. | |||||||||||||||||||||||||||||
Secured by multi-family residential properties – This portfolio segment includes mortgage loans secured by apartment buildings. | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential properties – This portfolio segment includes real estate loans secured by commercial and industrial properties, office or mixed-use facilities, strip shopping centers or other commercial property. These loans are generally guaranteed by the principals of the borrowing entity. | |||||||||||||||||||||||||||||
Other real estate loans – Other real estate loans are loans primarily for agricultural production, secured by mortgages on farm land. | |||||||||||||||||||||||||||||
Commercial and industrial loans – This portfolio segment includes loans to commercial customers for use in the normal course of business. These credits may be loans and lines to financially strong borrowers, secured by inventories, equipment or receivables, and are generally guaranteed by the principals of the borrowing entity. | |||||||||||||||||||||||||||||
Consumer loans – This portfolio segment includes a variety of secured and unsecured personal loans, including automobile loans, loans for household and personal purposes and all other direct consumer installment loans. | |||||||||||||||||||||||||||||
Other loans – Other loans are comprised of credit cards, overdrawn checking accounts reclassified to loans and overdraft lines of credit. | |||||||||||||||||||||||||||||
As of March 31, 2015 and December 31, 2014, the composition of the loan portfolio by reporting segment and portfolio segment was as follows: | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
FUSB | ALC | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 10,137 | $ | — | $ | 10,137 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 29,545 | 20,209 | 49,754 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 18,837 | — | 18,837 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 86,982 | — | 86,982 | ||||||||||||||||||||||||||
Other | 58 | — | 58 | ||||||||||||||||||||||||||
Commercial and industrial loans | 17,897 | — | 17,897 | ||||||||||||||||||||||||||
Consumer loans | 7,254 | 61,321 | 68,575 | ||||||||||||||||||||||||||
Other loans | 775 | — | 775 | ||||||||||||||||||||||||||
Total loans | 171,485 | 81,530 | 253,015 | ||||||||||||||||||||||||||
Less: Unearned interest, fees and deferred cost | 174 | 8,222 | 8,396 | ||||||||||||||||||||||||||
Allowance for loan losses | 2,880 | 2,521 | 5,401 | ||||||||||||||||||||||||||
Net loans | $ | 168,431 | $ | 70,787 | $ | 239,218 | |||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
FUSB | ALC | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 10,431 | $ | — | $ | 10,431 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 30,795 | 21,309 | 52,104 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 20,403 | — | 20,403 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 104,883 | — | 104,883 | ||||||||||||||||||||||||||
Other | 58 | — | 58 | ||||||||||||||||||||||||||
Commercial and industrial loans | 16,838 | — | 16,838 | ||||||||||||||||||||||||||
Consumer loans | 7,188 | 61,833 | 69,021 | ||||||||||||||||||||||||||
Other loans | 579 | — | 579 | ||||||||||||||||||||||||||
Total loans | 191,175 | 83,142 | 274,317 | ||||||||||||||||||||||||||
Less: Unearned interest, fees and deferred cost | 189 | 8,444 | 8,633 | ||||||||||||||||||||||||||
Allowance for loan losses | 3,486 | 2,682 | 6,168 | ||||||||||||||||||||||||||
Net loans | $ | 187,500 | $ | 72,016 | $ | 259,516 | |||||||||||||||||||||||
The Company makes commercial, real estate and installment loans to its customers. Although the Company has a diversified loan portfolio, 65.5% and 68.5% of the portfolio was concentrated in loans secured by real estate located primarily within a single geographic region of the United States as of March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||
Related Party Loans: | |||||||||||||||||||||||||||||
In the ordinary course of business, the Bank makes loans to certain officers and directors of the Company, including companies with which they are associated. These loans are made on the same terms as those prevailing for comparable transactions with others. Management believes that such loans do not represent more than a normal risk of collectability, nor do they present other unfavorable features. The aggregate balances of such related party loans and commitments as of March 31, 2015 and December 31, 2014 were $3.0 million and $3.1 million, respectively. During the three months ended March 31, 2015, there were no new loans to these parties, and repayments by active related parties were $0.03 million. During the year ended December 31, 2014, there were no new loans to these related parties, and repayments by active related parties were $0.5 million. | |||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||
The following tables present changes in the allowance for loan losses by loan portfolio segment and loan type as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 141 | $ | 2,810 | $ | 114 | $ | 421 | $ | — | $ | 3,486 | |||||||||||||||||
Charge-offs | — | (77 | ) | (11 | ) | (40 | ) | — | (128 | ) | |||||||||||||||||||
Recoveries | 10 | 4 | 15 | 18 | — | 47 | |||||||||||||||||||||||
Provision | 10 | (334 | ) | (52 | ) | (149 | ) | — | (525 | ) | |||||||||||||||||||
Ending balance | 161 | 2,403 | 66 | 250 | — | 2,880 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 841 | — | — | — | 841 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 161 | $ | 1,562 | $ | 66 | $ | 250 | $ | — | $ | 2,039 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 17,897 | 116,014 | 7,254 | 29,545 | 775 | 171,485 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 9,429 | — | — | — | 9,429 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 17,897 | $ | 106,585 | $ | 7,254 | $ | 29,545 | $ | 775 | $ | 162,056 | |||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | 2,336 | $ | 346 | $ | — | $ | 2,682 | |||||||||||||||||
Charge-offs | — | — | (655 | ) | (80 | ) | — | (735 | ) | ||||||||||||||||||||
Recoveries | — | — | 209 | 7 | — | 216 | |||||||||||||||||||||||
Provision | — | — | 313 | 45 | — | 358 | |||||||||||||||||||||||
Ending balance | — | — | 2,203 | 318 | — | 2,521 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 2,203 | $ | 318 | $ | — | $ | 2,521 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | — | — | 61,321 | 20,209 | — | 81,530 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 61,321 | $ | 20,209 | $ | — | $ | 81,530 | |||||||||||||||||
FUSB & ALC | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 141 | $ | 2,810 | $ | 2,450 | $ | 767 | $ | — | $ | 6,168 | |||||||||||||||||
Charge-offs | — | (77 | ) | (666 | ) | (120 | ) | — | (863 | ) | |||||||||||||||||||
Recoveries | 10 | 4 | 224 | 25 | — | 263 | |||||||||||||||||||||||
Provision | 10 | (334 | ) | 261 | (104 | ) | — | (167 | ) | ||||||||||||||||||||
Ending balance | 161 | 2,403 | 2,269 | 568 | — | 5,401 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 841 | — | — | — | 841 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 161 | $ | 1,562 | $ | 2,269 | $ | 568 | $ | — | $ | 4,560 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 17,897 | 116,014 | 68,575 | 49,754 | 775 | 253,015 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 9,429 | — | — | — | 9,429 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 17,897 | $ | 106,585 | $ | 68,575 | $ | 49,754 | $ | 775 | $ | 243,586 | |||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 592 | $ | 4,852 | $ | 180 | $ | 635 | $ | 13 | $ | 6,272 | |||||||||||||||||
Charge-offs | (289 | ) | (1,329 | ) | (147 | ) | (176 | ) | — | (1,941 | ) | ||||||||||||||||||
Recoveries | 307 | 587 | 129 | 51 | 1 | 1,075 | |||||||||||||||||||||||
Provision | (469 | ) | (1,300 | ) | (48 | ) | (89 | ) | (14 | ) | (1,920 | ) | |||||||||||||||||
Ending balance | 141 | 2,810 | 114 | 421 | — | 3,486 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 762 | — | — | — | 762 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 141 | $ | 2,048 | $ | 114 | $ | 421 | $ | — | $ | 2,724 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 16,838 | 135,775 | 7,188 | 30,795 | 579 | 191,175 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 10,509 | — | 96 | — | 10,605 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 16,838 | $ | 125,266 | $ | 7,188 | $ | 30,699 | $ | 579 | $ | 180,570 | |||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | 2,667 | $ | 457 | $ | — | $ | 3,124 | |||||||||||||||||
Charge-offs | — | — | (2,778 | ) | (311 | ) | — | (3,089 | ) | ||||||||||||||||||||
Recoveries | — | — | 772 | 29 | — | 801 | |||||||||||||||||||||||
Provision | — | — | 1,675 | 171 | — | 1,846 | |||||||||||||||||||||||
Ending balance | — | — | 2,336 | 346 | — | 2,682 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 2,336 | $ | 346 | $ | — | $ | 2,682 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | — | — | 61,833 | 21,309 | — | 83,142 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 61,833 | $ | 21,309 | $ | — | $ | 83,142 | |||||||||||||||||
FUSB & ALC | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 592 | $ | 4,852 | $ | 2,847 | $ | 1,092 | $ | 13 | $ | 9,396 | |||||||||||||||||
Charge-offs | (289 | ) | (1,329 | ) | (2,925 | ) | (487 | ) | — | (5,030 | ) | ||||||||||||||||||
Recoveries | 307 | 587 | 901 | 80 | 1 | 1,876 | |||||||||||||||||||||||
Provision | (469 | ) | (1,300 | ) | 1,627 | 82 | (14 | ) | (74 | ) | |||||||||||||||||||
Ending balance | 141 | 2,810 | 2,450 | 767 | — | 6,168 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 762 | — | — | — | 762 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 141 | $ | 2,048 | $ | 2,450 | $ | 767 | $ | — | $ | 5,406 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 16,838 | 135,775 | 69,021 | 52,104 | 579 | 274,317 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 10,509 | — | 96 | — | 10,605 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 16,838 | $ | 125,266 | $ | 69,021 | $ | 52,008 | $ | 579 | $ | 263,712 | |||||||||||||||||
Credit Quality: | |||||||||||||||||||||||||||||
The Bank utilizes a credit grading system that provides a uniform framework for establishing and monitoring credit risk in the loan portfolio. Under this system, each loan is graded, based on pre-determined risk metrics, and categorized into one of nine risk grades. These risk grades can be summarized into categories described as pass, special mention, substandard, doubtful and loss, as described in further detail below. | |||||||||||||||||||||||||||||
· | Pass (Risk Grades 1-5): Loans in this category include obligations in which the probability of default is considered low. | ||||||||||||||||||||||||||||
· | Special Mention (Risk Grade 6): Loans in this category exhibit potential credit weaknesses or downward trends deserving Bank management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. Although a special mention asset has a higher probability of default than pass rated categories, its default is not imminent. | ||||||||||||||||||||||||||||
· | Substandard (Risk Grade 7): Loans in this category have defined weaknesses that jeopardize the orderly liquidation of debt. A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy, although no loss of principal is envisioned. There is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. | ||||||||||||||||||||||||||||
· | Doubtful (Risk Grade 8): Loans classified as doubtful have all of the weaknesses found in substandard loans with the added provision that the weaknesses make collection of debt in full, based on currently existing facts, conditions and values, highly questionable and improbable. Serious problems exist such that partial loss of principal is likely; however, because of certain important, reasonably specific pending factors that may work to strengthen the assets, the loans’ classification as estimated losses is deferred until a more exact status may be determined. Pending factors include proposed merger, acquisition or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. Loans classified as doubtful may include loans to borrowers that have demonstrated a history of failing to live up to agreements. | ||||||||||||||||||||||||||||
· | Loss (Risk Grade 9): Loans are classified in this category when borrowers are deemed incapable of repayment of unsecured debt. Loans to such borrowers are considered uncollectable and of such little value that continuance as active assets of the Bank is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not prudent to defer writing off these assets, even though partial recovery may be affected in the future. | ||||||||||||||||||||||||||||
At ALC, because the loan portfolio is more uniform in nature, each loan is categorized into one of two risk grades, depending on whether the loan is considered to be performing or nonperforming. Performing loans are loans that are paying principal and interest in accordance with a contractual agreement. Nonperforming loans are loans that are either not paying as contractually agreed or that have demonstrated characteristics that indicate a probability of loss. | |||||||||||||||||||||||||||||
The tables below illustrate the carrying amount of loans by credit quality indicator as of March 31, 2015. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
5-Jan | Mention | 7 | 8 | ||||||||||||||||||||||||||
6 | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 5,641 | $ | 2,515 | $ | 1,981 | $ | — | $ | 10,137 | |||||||||||||||||||
Secured by 1-4 family residential properties | 28,870 | — | 662 | 13 | 29,545 | ||||||||||||||||||||||||
Secured by multi-family residential properties | 16,478 | — | 2,359 | — | 18,837 | ||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 76,457 | 4,584 | 5,941 | — | 86,982 | ||||||||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||||||||
Commercial and industrial loans | 15,959 | 1,213 | 725 | — | 17,897 | ||||||||||||||||||||||||
Consumer loans | 7,167 | — | 87 | — | 7,254 | ||||||||||||||||||||||||
Other loans | 775 | — | — | — | 775 | ||||||||||||||||||||||||
Total | $ | 151,405 | $ | 8,312 | $ | 11,755 | $ | 13 | $ | 171,485 | |||||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Performing | Nonperforming | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | $ | 19,652 | $ | 557 | $ | 20,209 | |||||||||||||||||||||||
Consumer loans | 60,060 | 1,261 | 61,321 | ||||||||||||||||||||||||||
Total | $ | 79,712 | $ | 1,818 | $ | 81,530 | |||||||||||||||||||||||
The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2014. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
5-Jan | Mention | 7 | 8 | ||||||||||||||||||||||||||
6 | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 5,326 | $ | 2,515 | $ | 2,590 | $ | — | $ | 10,431 | |||||||||||||||||||
Secured by 1-4 family residential properties | 27,956 | 638 | 2,201 | — | 30,795 | ||||||||||||||||||||||||
Secured by multi-family residential properties | 18,033 | — | 2,370 | — | 20,403 | ||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 86,812 | 10,905 | 7,166 | — | 104,883 | ||||||||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||||||||
Commercial and industrial loans | 14,915 | 1,222 | 701 | — | 16,838 | ||||||||||||||||||||||||
Consumer loans | 6,744 | 105 | 339 | — | 7,188 | ||||||||||||||||||||||||
Other loans | 577 | — | 2 | — | 579 | ||||||||||||||||||||||||
Total | $ | 160,421 | $ | 15,385 | $ | 15,369 | $ | — | $ | 191,175 | |||||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Performing | Nonperforming | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | $ | 20,778 | $ | 531 | $ | 21,309 | |||||||||||||||||||||||
Consumer loans | 60,459 | 1,374 | 61,833 | ||||||||||||||||||||||||||
Total | $ | 81,237 | $ | 1,905 | $ | 83,142 | |||||||||||||||||||||||
The following tables provide an aging analysis of past due loans by class as of March 31, 2015. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | 86 | $ | 86 | $ | 10,051 | $ | 10,137 | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 244 | 18 | 429 | 691 | 28,854 | 29,545 | 30 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | 18,837 | 18,837 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | 62 | — | 1,043 | 1,105 | 85,877 | 86,982 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | 58 | 58 | — | ||||||||||||||||||||||
Commercial and industrial loans | 28 | — | — | 28 | 17,869 | 17,897 | — | ||||||||||||||||||||||
Consumer loans | 16 | — | 17 | 33 | 7,221 | 7,254 | — | ||||||||||||||||||||||
Other loans | — | — | 11 | 11 | 764 | 775 | — | ||||||||||||||||||||||
Total | $ | 350 | $ | 18 | $ | 1,586 | $ | 1,954 | $ | 169,531 | $ | 171,485 | $ | 30 | |||||||||||||||
ALC | |||||||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 182 | 147 | 524 | 853 | 19,356 | 20,209 | 426 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial and industrial loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer loans | 672 | 558 | 1,238 | 2,468 | 58,853 | 61,321 | 1,237 | ||||||||||||||||||||||
Other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 854 | $ | 705 | $ | 1,762 | $ | 3,321 | $ | 78,209 | $ | 81,530 | $ | 1,663 | |||||||||||||||
The following tables provide an aging analysis of past due loans by class as of December 31, 2014. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | 41 | $ | — | $ | 86 | $ | 127 | $ | 10,304 | $ | 10,431 | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 200 | 20 | 852 | 1,072 | 29,723 | 30,795 | — | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | 20,403 | 20,403 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | 268 | 159 | 1,743 | 2,170 | 102,713 | 104,883 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | 58 | 58 | — | ||||||||||||||||||||||
Commercial and industrial loans | — | 8 | — | 8 | 16,830 | 16,838 | — | ||||||||||||||||||||||
Consumer loans | 12 | 3 | 24 | 39 | 7,149 | 7,188 | — | ||||||||||||||||||||||
Other loans | 4 | — | 12 | 16 | 563 | 579 | 11 | ||||||||||||||||||||||
Total | $ | 525 | $ | 190 | $ | 2,717 | $ | 3,432 | $ | 187,743 | $ | 191,175 | $ | 11 | |||||||||||||||
ALC | |||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded Investment | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | > | ||||||||||||||||||||||||
Past | Past | 90 | Due | 90 Days | |||||||||||||||||||||||||
Due | Due | Days | And | ||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 182 | 147 | 501 | 830 | 20,480 | 21,310 | 401 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial and industrial loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer loans | 671 | 558 | 1,346 | 2,575 | 59,257 | 61,832 | 1,335 | ||||||||||||||||||||||
Other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 853 | $ | 705 | $ | 1,847 | $ | 3,405 | $ | 79,737 | $ | 83,142 | $ | 1,736 | |||||||||||||||
The following table provides an analysis of non-accruing loans by class as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||||||
Loans on Non-Accrual Status | |||||||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 347 | $ | 956 | |||||||||||||||||||||||||
Secured by 1-4 family residential properties | 800 | 1,277 | |||||||||||||||||||||||||||
Secured by multi-family residential properties | — | — | |||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 1,135 | 2,314 | |||||||||||||||||||||||||||
Commercial and industrial loans | 130 | 139 | |||||||||||||||||||||||||||
Consumer loans | 110 | 140 | |||||||||||||||||||||||||||
Total loans | $ | 2,522 | $ | 4,826 | |||||||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the related loan agreement. If a loan is impaired, a specific valuation allowance is allocated, if necessary, 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. All loans of $0.5 million or more that have a credit quality risk grade of seven or above are identified for impairment analysis. Impaired loans, or portions thereof, are charged off when deemed uncollectable. | |||||||||||||||||||||||||||||
As of March 31, 2015, the carrying amount of impaired loans consisted of the following: | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | Carrying | Unpaid | Related | ||||||||||||||||||||||||||
Amount | Principal | Allowances | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 752 | 752 | — | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,247 | 5,247 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with no related allowance recorded | $ | 7,540 | $ | 7,540 | $ | — | |||||||||||||||||||||||
Impaired loans with an allowance recorded | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | — | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 1,889 | 1,889 | 841 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with an allowance recorded | $ | 1,889 | $ | 1,889 | $ | 841 | |||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,641 | 2,641 | 841 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,247 | 5,247 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total impaired loans | $ | 9,429 | $ | 9,429 | $ | 841 | |||||||||||||||||||||||
As of December 31, 2014, the carrying amount of impaired loans consisted of the following: | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | Carrying | Unpaid | Related | ||||||||||||||||||||||||||
Amount | Principal | Allowances | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 755 | 1,146 | — | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 6,091 | 6,091 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with no related allowance recorded | $ | 8,387 | $ | 8,778 | $ | — | |||||||||||||||||||||||
Impaired loans with an allowance recorded | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 603 | $ | 603 | $ | 71 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | — | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 1,615 | 1,615 | 691 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with an allowance recorded | $ | 2,218 | $ | 2,218 | $ | 762 | |||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 2,048 | $ | 2,048 | $ | 71 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,370 | 2,761 | 691 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 6,091 | 6,091 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total impaired loans | $ | 10,605 | $ | 10,996 | $ | 762 | |||||||||||||||||||||||
The average net investment in impaired loans and interest income recognized and received on impaired loans during the three months ended March 31, 2015 and the year ended December 31, 2014 were as follows: | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
Average | Interest | Interest | |||||||||||||||||||||||||||
Recorded | Income | Income | |||||||||||||||||||||||||||
Investment | Recognized | Received | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,637 | $ | 12 | $ | 15 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,458 | 88 | 83 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,798 | 63 | 50 | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total | $ | 9,989 | $ | 163 | $ | 148 | |||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Average | Interest | Interest | |||||||||||||||||||||||||||
Recorded | Income | Income | |||||||||||||||||||||||||||
Investment | Recognized | Received | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 2,769 | $ | 46 | $ | 46 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 143 | 3 | 3 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 3,565 | 178 | 170 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 8,186 | 324 | 320 | ||||||||||||||||||||||||||
Commercial and industrial | 80 | 1 | 1 | ||||||||||||||||||||||||||
Total | $ | 14,743 | $ | 552 | $ | 540 | |||||||||||||||||||||||
Loans on which the accrual of interest has been discontinued amounted to $2.5 million and $4.8 million as of March 31, 2015 and December 31, 2014, respectively. If interest on those loans had been accrued, there would have been $30 thousand and $0.1 million accrued for the three- and twelve-month periods ended March 31, 2015 and December 31, 2014, respectively. Interest income recorded related to these loans as of March 31, 2015 and December 31, 2014 was $30 thousand and $0.2 million, respectively. Accruing loans past due 90 days or more amounted to $1.7 million as of both March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Troubled debt restructurings include loans with respect to which concessions have been granted to borrowers that generally would not have otherwise been considered had the borrowers not been experiencing financial difficulty. The concessions granted may include payment schedule modifications, interest rate reductions, maturity date extensions, modification of note structure, principal balance reductions or some combination of these concessions. Restructured loans may involve loans remaining on non-accrual, moving to non-accrual or continuing on accrual status, depending on the individual facts and circumstances of the borrower. Non-accrual restructured loans are included with all other non-accrual loans. In addition, all accruing restructured loans are reported as troubled debt restructurings. Generally, restructured loans remain on non-accrual until the customer has attained a sustained period of repayment performance under the modified loan terms (generally a minimum of six months). However, performance prior to the restructuring, or significant events that coincide with the restructuring, are considered in assessing whether the borrower can meet the new terms and whether the loan should be returned to or maintained on non-accrual status. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan remains on non-accrual. As of March 31, 2015 and 2014, respectively, the Company had $1.5 million and $4.9 million of non-accruing loans that were previously restructured and that remained on non-accrual status. For the three months ended March 31, 2015, the Company had $0.2 million in restructured loans that were restored to accrual status based on a sustained period of repayment performance. For the year ended December 31, 2014, the Company had no restructured loans that were restored to accrual status based on a sustained period of repayment performance. | |||||||||||||||||||||||||||||
The following table provides the number of loans that the Bank had modified in a troubled debt restructuring by loan portfolio as of March 31, 2015 and December 31, 2014, as well as the pre- and post-modification principal balance as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Loans | Outstanding | Principal | Loans | Outstanding | Principal | ||||||||||||||||||||||||
Principal | Balance | Principal | Balance | ||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land | 3 | $ | 2,220 | $ | 1,756 | 4 | $ | 3,282 | $ | 2,365 | |||||||||||||||||||
loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 4 | 200 | 152 | 4 | 200 | 156 | |||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5 | 1,368 | 1,189 | 6 | 1,448 | 1,299 | |||||||||||||||||||||||
Commercial loans | 3 | 159 | 103 | 4 | 159 | 109 | |||||||||||||||||||||||
Total | 15 | $ | 3,947 | $ | 3,200 | 18 | $ | 5,089 | $ | 3,929 | |||||||||||||||||||
The following table provides the number of loans modified in a troubled debt restructuring that have subsequently defaulted, by loan portfolio, as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
of | Investment | of | Investment | ||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Construction, land development and other land loans | — | $ | — | — | $ | — | |||||||||||||||||||||||
Secured by non-farm, non-residential properties | 2 | 886 | 2 | 886 | |||||||||||||||||||||||||
Total | 2 | $ | 886 | 2 | $ | 886 | |||||||||||||||||||||||
Restructured loan modifications primarily included maturity date extensions and payment schedule modifications. There were no modifications to principal balances of the loans that were restructured. Accordingly, there was no impact on the Company’s allowance for loan losses resulting from the modifications. | |||||||||||||||||||||||||||||
All loans with a principal balance of $0.5 million or more that have been modified in a troubled debt restructuring are considered impaired and evaluated individually for impairment. The nature and extent of impairment of restructured loans, including those that have experienced a subsequent payment default, are considered in the determination of an appropriate level of allowance for loan losses. This evaluation resulted in an allowance for loan losses of $10 thousand and $0.9 million as of March 31, 2015 and December 31, 2014, respectively. |
Other_Real_Estate_Owned
Other Real Estate Owned | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Banking And Thrift [Abstract] | |||||||||||||
Other Real Estate Owned | 7 | OTHER REAL ESTATE OWNED | |||||||||||
Other real estate and certain other assets acquired in foreclosure are reported at the lower of the investment in the loan or fair value of the property, less estimated costs to sell. The following table summarizes foreclosed property activity as of the three months ended March 31, 2015 and 2014: | |||||||||||||
31-Mar-15 | |||||||||||||
FUSB | ALC | Total | |||||||||||
(Dollars in Thousands) | |||||||||||||
Beginning Balance | $ | 6,997 | $ | 738 | $ | 7,735 | |||||||
Transfers from loans | 995 | 63 | 1,058 | ||||||||||
Sales proceeds | (40 | ) | (66 | ) | (106 | ) | |||||||
Gross gains | — | — | — | ||||||||||
Gross losses | (3 | ) | (46 | ) | (49 | ) | |||||||
Net gains (losses) | (3 | ) | (46 | ) | (49 | ) | |||||||
Impairment | — | (30 | ) | (30 | ) | ||||||||
Ending Balance | $ | 7,949 | $ | 659 | $ | 8,608 | |||||||
31-Mar-14 | |||||||||||||
FUSB | ALC | Total | |||||||||||
(Dollars in Thousands) | |||||||||||||
Beginning Balance | $ | 8,463 | $ | 847 | $ | 9,310 | |||||||
Transfers from loans | 2,154 | 166 | 2,320 | ||||||||||
Sales proceeds | (1,239 | ) | (41 | ) | (1,280 | ) | |||||||
Gross gains | 147 | — | 147 | ||||||||||
Gross losses | (33 | ) | (26 | ) | (59 | ) | |||||||
Net gains (losses) | 114 | (26 | ) | 88 | |||||||||
Impairment | (10 | ) | (44 | ) | (54 | ) | |||||||
Ending Balance | $ | 9,482 | $ | 902 | $ | 10,384 | |||||||
Valuation adjustments are recorded in other non-interest expense and are primarily post-foreclosure write-downs that are a result of continued declining property values based on updated appraisals or other indications of value, such as offers to purchase. The amount of foreclosed residential real estate that the Company held as of march 31, 2015 was $1.1 million. The Company also held $0.2 million in consumer mortgage loans collateralized by residential real estate that were in the process of foreclosure as of March 31, 2015. | |||||||||||||
Investment_in_Limited_Partners
Investment in Limited Partnerships | 3 Months Ended | |
Mar. 31, 2015 | ||
Equity Method Investments And Joint Ventures [Abstract] | ||
Investment in Limited Partnerships | 8 | INVESTMENTS IN LIMITED PARTNERSHIPS |
The Bank holds investments in affordable housing projects for which it provides funding as a limited partner and has received tax credits related to its investments in the projects based on its partnership share. Historically, the Bank’s investments have included both direct investments and investments in funds that invest solely in affordable housing projects. The net assets of the partnerships consist primarily of apartment complexes and liabilities associated with the operation of the partnerships. The Company has determined that these structures require evaluation as a VIE under Accounting Standards Codification (“ASC”) Topic 810, Consolidation. The Company consolidates one of the funds in which it has a 99.9% limited partnership interest. Assets recorded by the Company as a result of the consolidation were less than $0.1 million as of both March 31, 2015 and December 31, 2014. The remaining limited partnership investments are unconsolidated and are accounted for under the cost method, as allowed under ASC Topic 325, Accounting for Tax Benefits Resulting from Investments in Affordable Housing Projects. The Company amortizes the excess of carrying value of the investment over its estimated residual value during the period in which tax credits are allocated to the investors. As of December 31, 2013, approximately $0.8 million was included in other assets, representing the carrying amount of one remaining partnership accounted for as a cost method investment. During 2014, this partnership was dissolved, and the Company received $1.0 million, representing its residual interest upon dissolution of the partnership. Accordingly, as of December 31, 2014, the carrying amount of the partnership was reduced to zero, and the difference between the residual interest received and the carrying amount was recorded as other non-interest income. |
ShortTerm_Borrowings
Short-Term Borrowings | 3 Months Ended | |
Mar. 31, 2015 | ||
Debt Disclosure [Abstract] | ||
Short-Term Borrowings | 9 | SHORT-TERM BORROWINGS |
Short-term borrowings consist of federal funds purchased and securities sold under repurchase agreements. Federal funds purchased generally mature within one to four days. There were no federal funds purchased outstanding as of March 31, 2015 or December 31, 2014. | ||
Securities sold under repurchase agreements, which are secured borrowings, generally are reflected at the amount of cash received in connection with the transaction. The Company may be required to provide additional collateral based on the fair value of the underlying securities. The Company monitors the fair value of the underlying securities on a daily basis. Securities sold under repurchase agreements as of March 31, 2015 and December 31, 2014 totaled $0.7 million and $0.4 million, respectively. | ||
As of both March 31, 2015 and December 31, 2014, the Bank had $18.8 million in remaining federal funds lines from correspondent banks. |
LongTerm_Debt
Long-Term Debt | 3 Months Ended | |
Mar. 31, 2015 | ||
Debt Disclosure [Abstract] | ||
Long-Term Debt | 10 | LONG-TERM DEBT |
The Company uses FHLB advances as an alternative to funding sources with similar maturities, such as certificates of deposit or other deposit programs. These advances generally offer more attractive rates when compared to other mid-term financing options. They are also flexible, allowing the Company to quickly obtain the necessary maturities and rates that best suit its overall asset/liability strategy. The Company had FHLB advances outstanding of $5.0 million as of both March 31, 2015 and December 31, 2014, respectively, and assets pledged associated with these advances of $7.3 million and $5.7 million, respectively. | ||
As of March 31, 2015 and December 31, 2014, the Bank had $164.5 million and $166.8 million, respectively, in remaining credit from the FHLB (subject to available collateral). |
Income_Taxes
Income Taxes | 3 Months Ended | |
Mar. 31, 2015 | ||
Income Tax Disclosure [Abstract] | ||
Income Taxes | 11 | INCOME TAXES |
The provision for income taxes was $0.4 million and $0.3 million for the three-month periods ended March 31, 2015 and 2014, respectively. The Company’s effective tax rate was 29.6% and 26.3% for the same periods. The effective tax rate is impacted by recurring permanent differences, such as bank-owned life insurance and tax-exempt investment and loan income. | ||
The Company had a net deferred tax asset of $7.7 million and $7.9 million as of March 31, 2015 and December 31, 2014, respectively. The reduction in the net deferred tax asset resulted primarily from a decrease in the allowance for loan losses, partially offset by the impact of changes in the fair value of securities available-for-sale. | ||
Stock_Option_Grants
Stock Option Grants | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||||||||||
Stock Option Grants | 12 | STOCK OPTION GRANTS | |||||||||||||||
As of March 31, 2015 and March 31, 2014, the Company had outstanding stock options granted by USBI to certain employees and non-employee directors under the 2013 Incentive Plan. The stock option awards were granted with an exercise price equal to the market price of USBI’s common stock on the date of the grant. The awards granted were either fully-vested or had a vesting period of one year, with a contractual 10-year term. The Company recognizes the cost of services received in exchange for stock options based on the grant date fair value of the award. The fair value is determined using the Black-Scholes option-pricing model, and the compensation cost is recognized on a straight-line basis over the vesting period of the award. Stock-based compensation expense related to stock options was less than $0.1 million for both of the three-month periods ended March 31, 2015 and 2014. The following table summarizes the Company’s stock option activity for the periods presented. | |||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||
Number of | Average | Number of | Average | ||||||||||||||
Shares | Exercise | Shares | Exercise | ||||||||||||||
Price | Price | ||||||||||||||||
Options: | |||||||||||||||||
Outstanding, beginning of period | 83,400 | $ | 8.09 | — | $ | — | |||||||||||
Granted | 96,150 | 8.23 | 10,750 | 8 | |||||||||||||
Exercised | — | — | — | — | |||||||||||||
Expired | — | — | — | — | |||||||||||||
Forfeited | 2,500 | 8.09 | — | — | |||||||||||||
Options outstanding, end of period | 177,050 | $ | 8.16 | 10,750 | $ | 8 | |||||||||||
Options exercisable, end of period | 81,900 | $ | 8.09 | — | $ | — | |||||||||||
The awards granted in 2015 have a vesting period of one year, with a contractual 10-year term. To calculate the fair value of these awards, the Company used a risk-free interest rate of 1.5%, an expected option life of 7.5 years and a dividend rate of 1.5%. Stock price volatility was calculated using a three year stock price history. The aggregate intrinsic value (calculated as the amount by which the market value of the underlying stock exceeds the exercise price of the option) was less than $0.1 million, as of both March 31, 2015 and 2014. |
Segment_Reporting
Segment Reporting | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Segment Reporting | 13 | SEGMENT REPORTING | |||||||||||||||||||
Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of the Company: FUSB and ALC. The reportable segments were determined using the internal management reporting system. These segments are comprised of the Company’s and the Bank’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the period ended December 31, 2014. The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below. | |||||||||||||||||||||
All | |||||||||||||||||||||
FUSB | ALC | Other | Eliminations | Consolidated | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
For the three months ended March 31, 2015: | |||||||||||||||||||||
Net interest income | $ | 3,844 | $ | 2,861 | $ | 2 | $ | — | $ | 6,707 | |||||||||||
Provision (reduction in reserve) for loan losses | (525 | ) | 359 | — | — | (166 | ) | ||||||||||||||
Total non-interest income | 1,149 | 220 | 1,113 | (1,191 | ) | 1,291 | |||||||||||||||
Total non-interest expense | 4,281 | 2,493 | 356 | (153 | ) | 6,977 | |||||||||||||||
Income before income taxes | 1,237 | 229 | 759 | (1,038 | ) | 1,187 | |||||||||||||||
Provision for income taxes | 370 | 86 | (105 | ) | — | 351 | |||||||||||||||
Net income | $ | 867 | $ | 143 | $ | 864 | $ | (1,038 | ) | $ | 836 | ||||||||||
Other significant items: | |||||||||||||||||||||
Total assets | $ | 567,318 | $ | 75,124 | $ | 82,175 | $ | (159,735 | ) | $ | 564,882 | ||||||||||
Total investment securities | 249,784 | — | 80 | — | 249,864 | ||||||||||||||||
Total loans, net | 231,778 | 70,786 | — | (63,346 | ) | 239,218 | |||||||||||||||
Investment in subsidiaries | 5 | — | 76,865 | (76,865 | ) | 5 | |||||||||||||||
Fixed asset addition | 1,241 | 162 | — | — | 1,403 | ||||||||||||||||
Depreciation and amortization expense | 153 | 60 | — | — | 213 | ||||||||||||||||
Total interest income from external customers | 3,578 | 3,743 | — | — | 7,321 | ||||||||||||||||
Total interest income from affiliates | 882 | — | 2 | (884 | ) | — | |||||||||||||||
All | |||||||||||||||||||||
FUSB | ALC | Other | Eliminations | Consolidated | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
For the three months ended March 31, 2014: | |||||||||||||||||||||
Net interest income | $ | 4,087 | $ | 3,112 | $ | 2 | $ | — | $ | 7,201 | |||||||||||
Provision (reduction in reserve) for loan losses | (175 | ) | 589 | — | — | 414 | |||||||||||||||
Total non-interest income | 931 | 286 | 1,043 | (1,113 | ) | 1,147 | |||||||||||||||
Total non-interest expense | 4,330 | 2,556 | 208 | (210 | ) | 6,884 | |||||||||||||||
Income before income taxes | 863 | 253 | 837 | (903 | ) | 1,050 | |||||||||||||||
Provision for income taxes | 176 | 99 | 1 | — | 276 | ||||||||||||||||
Net income | $ | 687 | $ | 154 | $ | 836 | $ | (903 | ) | $ | 774 | ||||||||||
Other significant items: | |||||||||||||||||||||
Total assets | $ | 577,804 | $ | 68,625 | $ | 77,515 | $ | (148,228 | ) | $ | 575,716 | ||||||||||
Total investment securities | 189,826 | — | 80 | — | 189,906 | ||||||||||||||||
Total loans, net | 268,000 | 65,438 | — | (56,721 | ) | 276,717 | |||||||||||||||
Investment in subsidiaries | 784 | — | 72,416 | (73,195 | ) | 5 | |||||||||||||||
Fixed asset addition | 708 | 13 | — | — | 721 | ||||||||||||||||
Depreciation and amortization expense | 128 | 52 | — | — | 180 | ||||||||||||||||
Total interest income from external customers | 3,969 | 3,877 | — | — | 7,846 | ||||||||||||||||
Total interest income from affiliates | 765 | — | 3 | (768 | ) | — | |||||||||||||||
Guarantees_Commitments_and_Con
Guarantees, Commitments and Contingencies | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||
Guarantees, Commitments and Contingencies | 14 | GUARANTEES, COMMITMENTS AND CONTINGENCIES | |||||||
The Bank’s exposure to credit loss in the event of nonperformance by the other party for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making these commitments as it does for on-balance sheet instruments. For interest rate swap transactions and commitments to purchase or sell securities for forward delivery, the contract or notional amounts do not represent exposure to credit loss. The Bank controls the credit risk of these derivative instruments through credit approvals, limits and monitoring procedures. Certain derivative contracts have credit risk for the carrying value plus the amount to replace such contracts in the event of counterparty default. All of the Bank’s financial instruments are held for risk management and not for trading purposes. During the three-month periods ended March 31, 2015 and 2014, respectively, there were no credit losses associated with derivative contracts. | |||||||||
In the normal course of business, there are outstanding commitments and contingent liabilities, such as commitments to extend credit, letters of credit and others, that are not included in the consolidated financial statements. The financial instruments involve, to varying degrees, elements of credit and interest rate risk in excess of amounts recognized in the financial statements. A summary of these commitments and contingent liabilities is presented below: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(Dollars in Thousands) | |||||||||
Standby letters of credit | $ | 833 | $ | 833 | |||||
Commitments to extend credit | $ | 30,460 | $ | 31,644 | |||||
Standby letters of credit are contingent commitments issued by the Bank generally to guarantee the performance of a customer to a third party. The Bank has recourse against the customer for any amount that it is required to pay to a third party under a standby letter of credit. Revenues are recognized over the lives of the standby letters of credit. As of March 31, 2015 and December 31, 2014, the potential amount of future payments that the Bank could be required to make under its standby letters of credit, which represent the Bank’s total credit risk in this category, is listed in the table above. | |||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. | |||||||||
Commitments to purchase securities for delayed delivery require the Bank to purchase a specified security at a specified price for delivery on a specified date. Similarly, commitments to sell securities for delayed delivery require the Bank to sell a specified security at a specified price for delivery on a specified date. Market risk arises from potential movements in security values and interest rates between the commitment and delivery dates. As of March 31, 2015 and December 31, 2014, there were no outstanding commitments to purchase securities for delayed delivery and no outstanding commitments to sell securities for delayed delivery. | |||||||||
Litigation | |||||||||
On December 2, 2013, Wayne Allen Russell filed a lawsuit against the Bank in the Circuit Court of Tuscaloosa County, alleging that the Bank wrongfully foreclosed on a parcel of property owned by Russell that was subject to a mortgage in favor of the Bank. Mr. Russell alleges that the loan secured by the mortgage had been satisfied in full from the proceeds of a prior foreclosure of additional properties subject to the same mortgage. Mr. Russell seeks an unspecified amount of damages. The Bank denies Mr. Russell’s allegations and is vigorously defending the lawsuit. The Bank filed a motion for summary judgment seeking a judgment as a matter of law in the Bank’s favor as to all of Mr. Russell’s claims, and this motion for summary judgement was denied. At this time, discovery is ongoing, and we are unable to assess the likelihood of a resolution or the possibility of an unfavorable outcome in this matter. | |||||||||
The Company is also party to other litigation, and the Company intends to vigorously defend itself in all such litigation. In the opinion of the Company, based on review and consultation with legal counsel, the outcome of such other litigation should not have a material adverse effect on the Company’s consolidated financial statements or results of operations. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value of Financial Instruments | 15 | FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||||
The Company follows the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
The assumptions used in the estimation of the fair value of the Company’s financial instruments are detailed below. Where quoted prices are not available, fair values are based on estimates using discounted cash flows and other valuation techniques. The use of discounted cash flows can be significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. The following disclosures should not be considered a surrogate of the liquidation value of the Company, but rather represent a good-faith estimate of the increase or decrease in value of financial instruments held by the Company since purchase, origination or issuance. | |||||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. In determining fair value, the Company uses various methods, including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: | |||||||||||||||||||||
· | Level 1 — Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange or Nasdaq. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | ||||||||||||||||||||
· | Level 2 — Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third-party pricing services for identical or similar assets or liabilities. | ||||||||||||||||||||
· | Level 3 — Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. | ||||||||||||||||||||
The Company rarely transfers assets and liabilities measured at fair value between Level 1 and Level 2 measurements. Trading account assets and securities available-for-sale may be periodically transferred to or from Level 3 valuation based on management’s conclusion regarding the best method of pricing for an individual security. Such transfers are accounted for as if they occurred at the beginning of a reporting period. There were no such transfers during the three months ended March 31, 2015 or the year ended December 31, 2014. | |||||||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
Available-for-Sale Securities | |||||||||||||||||||||
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include exchange-traded equities. Level 2 securities include U.S. Treasury and agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset-backed and other securities. Level 2 fair values are obtained from quoted prices of securities with similar characteristics. In certain cases, where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. | |||||||||||||||||||||
Interest Rate Cap Derivative Agreements | |||||||||||||||||||||
Interest rate cap agreements were included in other assets at fair value on the Company’s balance sheet as of March 31, 2015. The interest rate caps qualify as derivatives but are not designated as hedging instruments. Accordingly, changes in fair value are included in results of operations. The fair value of these agreements is based on information obtained from third-party financial institutions. This information is periodically evaluated by the Company and, as necessary, corroborated against other third-party valuations. The Company classifies these derivative assets within Level 2 of the valuation hierarchy. | |||||||||||||||||||||
The following table presents assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014. There were no liabilities measured at fair value on a recurring basis for either period presented. | |||||||||||||||||||||
Fair Value Measurements as of March 31, 2015 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
March 31, | Active | Observable | Inputs | ||||||||||||||||||
2015 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Investment securities, available-for-sale | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Residential | $ | 137,761 | $ | — | $ | 137,761 | $ | — | |||||||||||||
Commercial | 48,551 | — | 48,551 | — | |||||||||||||||||
Obligations of states and political subdivisions | 16,240 | — | 16,240 | — | |||||||||||||||||
Obligations of U.S. government-sponsored | 6,362 | — | 6,362 | — | |||||||||||||||||
agencies | |||||||||||||||||||||
Corporate Notes | 796 | — | 796 | — | |||||||||||||||||
U.S. Treasury securities | 80 | — | 80 | — | |||||||||||||||||
Other assets - derivatives | 28 | — | 28 | — | |||||||||||||||||
Fair Value Measurements as of December 31, 2014 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
December 31, | Active | Observable | Inputs | ||||||||||||||||||
2014 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Investment securities, available-for-sale | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Residential | $ | 141,684 | $ | — | $ | 141,684 | $ | — | |||||||||||||
Commercial | 35,944 | — | 35,944 | — | |||||||||||||||||
Obligations of states and political subdivisions | 16,914 | — | 16,914 | — | |||||||||||||||||
Obligations of U.S. government-sponsored | 6,364 | — | 6,364 | — | |||||||||||||||||
agencies | |||||||||||||||||||||
U.S. Treasury securities | 4,060 | — | 4,060 | — | |||||||||||||||||
Other assets - derivatives | 68 | — | 68 | — | |||||||||||||||||
Fair Value Measurements on a Non-recurring Basis | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
Loans that are considered impaired are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due under the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price or the fair value of the collateral less estimated selling cost if the loan is collateral-dependent. For the Company, the fair value of impaired loans was primarily measured based on the value of the collateral (typically real estate) securing the loans. The Company determines the fair value of the collateral based on independent appraisals performed by qualified licensed appraisers. The appraisals may include a single valuation approach or a combination of approaches, including comparable sales and income approaches. Appraised values are discounted for estimated costs to sell and may be discounted further based on management’s knowledge of the collateral, changes in market conditions since the most recent appraisal and/or management’s knowledge of the borrower and the borrower’s business. Such discounts by management are subjective and are typically significant unobservable inputs for determining fair value. Impaired loans are evaluated by management for additional impairment at least quarterly and are adjusted accordingly. | |||||||||||||||||||||
Other Real Estate Owned (OREO) | |||||||||||||||||||||
OREO consists of properties obtained through foreclosure or in satisfaction of loans and is recorded at the lower of the loan’s carrying amount or the fair value of the property, less estimated cost to sell. Estimates of fair value are generally based on third-party appraisals of the property and are classified within Level 3 of the fair value hierarchy. The appraisals are sometimes discounted based on management’s knowledge of the property and/or changes in market conditions from the date of the most recent appraisal. Such discounts are typically significant unobservable inputs for determining fair value. | |||||||||||||||||||||
The following table presents the balances of impaired loans and OREO measured at fair value on a non-recurring basis as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
Fair Value Measurements as of March 31, 2015 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
March 31, | Active | Observable | Inputs | ||||||||||||||||||
2015 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Impaired loans | $ | 1,048 | $ | — | $ | — | $ | 1,048 | |||||||||||||
OREO | 8,608 | — | — | 8,608 | |||||||||||||||||
Fair Value Measurements as of December 31, 2014 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
December 31, | Active | Observable | Inputs | ||||||||||||||||||
2014 | Markets For Identical | Inputs | (Level 3) | ||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Impaired loans | $ | 1,456 | $ | — | $ | — | $ | 1,456 | |||||||||||||
OREO | 7,735 | — | — | 7,735 | |||||||||||||||||
Non-recurring Fair Value Measurements Using Significant Unobservable Inputs | |||||||||||||||||||||
The following table presents information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of March 31, 2015. The table includes the valuation techniques and the significant unobservable inputs utilized. The range of each unobservable input, as well as the weighted average within the range utilized as of March 31, 2015, are both included. Following the table is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input. | |||||||||||||||||||||
Level 3 Significant Unobservable Input Assumptions | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Quantitative Range | ||||||||||||||||||
March 31, | of Unobservable | ||||||||||||||||||||
2015 | Inputs | ||||||||||||||||||||
(Weighted | |||||||||||||||||||||
Average) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 1,048 | Multiple data points, | Appraisal comparability | 9% - 10% | ||||||||||||||||
including discount to | adjustment (discount) | -9.00% | |||||||||||||||||||
appraised value of | |||||||||||||||||||||
collateral based on | |||||||||||||||||||||
recent market activity | |||||||||||||||||||||
OREO | $ | 8,608 | Discount to appraised | Appraisal comparability | 9% - 10% | ||||||||||||||||
value of property based | adjustment (discount) | -9.00% | |||||||||||||||||||
on recent market | |||||||||||||||||||||
activity for sales of | |||||||||||||||||||||
similar properties | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
Impaired loans are valued based on multiple data points indicating the fair value for each loan. The primary data point is the appraisal value of the underlying collateral, to which a discount is applied. Management establishes this discount or comparability adjustment based on recent sales of similar property types. As liquidity in the market increases or decreases, the comparability adjustment and the resulting asset valuation are impacted. | |||||||||||||||||||||
OREO | |||||||||||||||||||||
OREO under a binding contract for sale is valued based on contract price. If no sales contract is pending for a specific property, management establishes a comparability adjustment to the appraised value based on historical activity, considering proceeds for properties sold versus the corresponding appraised value. Increases or decreases in realization for properties sold impact the comparability adjustment for similar assets remaining on the balance sheet. | |||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
ASC Topic 825, Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized on the face of the balance sheet, for which it is practicable to estimate that value. The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: | |||||||||||||||||||||
Cash, due from banks and federal funds sold: The carrying amount of cash, due from banks and federal funds sold approximates fair value. | |||||||||||||||||||||
Federal Home Loan Bank (“FHLB”) stock: Based on the redemption provision of the FHLB, the stock has no quoted market value and is carried at cost. | |||||||||||||||||||||
Investment securities: Fair values of investment securities are based on quoted market prices where available. If quoted market prices are not available, estimated fair values are based on market prices of comparable instruments. | |||||||||||||||||||||
Derivative instruments: The fair value of derivative instruments is based on information obtained from a third-party financial institution. This information is periodically evaluated by the Company and, as necessary, corroborated against other third-party information. | |||||||||||||||||||||
Accrued interest receivable and payable: The carrying amount of accrued interest approximates fair value. | |||||||||||||||||||||
Loans, net: For variable-rate loans, fair values are based on carrying values. Fixed-rate commercial loans, other installment loans and certain real estate mortgage loans are valued using discounted cash flows. The discount rate used to determine the present value of these loans is based on interest rates currently being charged by the Company on comparable loans as to credit risk and term. | |||||||||||||||||||||
Demand and savings deposits: The fair values of demand deposits are equal to the carrying value of such deposits. Demand deposits include non-interest bearing demand deposits, savings accounts, NOW accounts and money market demand accounts. | |||||||||||||||||||||
Time deposits: The fair values of relatively short-term time deposits are equal to their carrying values. Discounted cash flows are used to value long-term time deposits. The discount rate used is based on interest rates currently being offered by the Company on comparable deposits as to amount and term. | |||||||||||||||||||||
Short-term borrowings: These borrowings may consist of federal funds purchased, securities sold under agreements to repurchase and the floating rate borrowings from the FHLB account. Due to the short-term nature of these borrowings, fair values approximate carrying values. | |||||||||||||||||||||
Long-term debt: The fair value of this debt is estimated using discounted cash flows based on the Company’s current incremental borrowing rate for similar types of borrowing arrangements as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||
Off-balance sheet instruments: The carrying amount of commitments to extend credit and standby letters of credit approximates fair value. The carrying amount of the off-balance sheet financial instruments is based on fees currently charged to enter into such agreements. | |||||||||||||||||||||
The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of March 31, 2015 and December 31, 2014, were as follows: | |||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 30,317 | $ | 30,317 | $ | 30,317 | $ | — | $ | — | |||||||||||
Investment securities available-for-sale | 209,790 | 209,790 | — | 209,790 | — | ||||||||||||||||
Investment securities held-to-maturity | 40,074 | 40,033 | — | 40,033 | — | ||||||||||||||||
Federal Home Loan Bank stock | 740 | 740 | — | — | 740 | ||||||||||||||||
Loans, net of allowance for loan losses | 239,218 | 239,740 | — | — | 239,740 | ||||||||||||||||
Other assets – derivatives | 28 | 28 | — | 28 | — | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits | 475,288 | 476,009 | — | 476,009 | — | ||||||||||||||||
Short-term borrowings | 680 | 680 | — | 680 | — | ||||||||||||||||
Long-term debt | 5,000 | 5,005 | — | 5,005 | — | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 34,166 | $ | 34,166 | $ | 34,166 | $ | — | $ | — | |||||||||||
Investment securities available-for-sale | 204,966 | 204,966 | — | 204,966 | — | ||||||||||||||||
Investment securities held-to-maturity | 29,120 | 29,154 | — | 29,154 | — | ||||||||||||||||
Federal Home Loan Bank stock | 738 | 738 | — | — | 738 | ||||||||||||||||
Loans, net of allowance for loan losses | 259,516 | 259,337 | — | — | 259,337 | ||||||||||||||||
Other assets – derivatives | 68 | 68 | — | 68 | — | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits | 483,659 | 484,108 | — | 484,108 | — | ||||||||||||||||
Short-term borrowings | 436 | 436 | — | 436 | — | ||||||||||||||||
Long-term debt | 5,000 | 5,007 | — | 5,007 | — | ||||||||||||||||
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | In January 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). ASU 2014-04 clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (i) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (ii) 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. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate properties that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014 and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The adoption of ASU 2014-04 did not have a significant impact on the Company’s consolidated balance sheets, results of operations or cash flows. |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact, if any, that ASU 2014-09 will have on its consolidated financial statements. | |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Residential Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. ASU 2014-14 also provides that, upon foreclosure, the separate other receivable would be measured based on the current amount of the loan balance (principal and interest) expected to be recovered under the guarantee. ASU 2014-14 became effective for the Company on January 1, 2015 and was applied using the prospective transition method as described in ASU 2014-14. The adoption of ASU 2014-14 did not have a material impact on the Company’s consolidated financial statements. | |
In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability companies and securitization structures. The ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. The new standard simplifies and improves current GAAP by: (i) placing more emphasis on risk of loss when determining a controlling financial interest; (ii) reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity (“VIE”); and (iii) changing consolidation conclusions for companies in several industries that typically make use of limited partnerships or VIEs. The ASU will be effective for periods beginning after December 15, 2015. The Company is evaluating the potential impact on the Company’s consolidated financial statements. |
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Summary of Basic and Diluted Net Income Per Share Calculations | The following table reflects weighted average shares used to calculate basic and diluted net income per share for the periods presented. | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Basic shares | 6,134,808 | 6,121,375 | |||||||
Dilutive shares | 177,050 | 10,750 | |||||||
Diluted shares | 6,311,858 | 6,132,125 | |||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(Dollars in Thousands, Except Per Share Data) | |||||||||
Net income | $ | 836 | $ | 774 | |||||
Basic net income per share | $ | 0.14 | $ | 0.13 | |||||
Diluted net income per share | $ | 0.13 | $ | 0.13 | |||||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||
Investment Securities Available-for-Sale and Held-to-Maturity | Details of investment securities available-for-sale and held-to-maturity as of March 31, 2015 and December 31, 2014 are as follows: | ||||||||||||||||
Available-for-Sale | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 136,318 | $ | 1,667 | $ | (224 | ) | $ | 137,761 | ||||||||
Commercial | 48,525 | 266 | (240 | ) | 48,551 | ||||||||||||
Obligations of states and political subdivisions | 15,075 | 1,165 | — | 16,240 | |||||||||||||
Obligations of U.S. government-sponsored agencies | 6,338 | 24 | — | 6,362 | |||||||||||||
Corporate notes | 798 | — | (2 | ) | 796 | ||||||||||||
U.S. Treasury securities | 80 | — | — | 80 | |||||||||||||
Total | $ | 207,134 | $ | 3,122 | $ | (466 | ) | $ | 209,790 | ||||||||
Held-to-Maturity | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Obligations of U.S. government-sponsored agencies | $ | 22,672 | $ | 40 | $ | (55 | ) | $ | 22,657 | ||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | 16,820 | 48 | (74 | ) | 16,794 | ||||||||||||
Obligations of states and political subdivisions | 582 | — | — | 582 | |||||||||||||
Total | $ | 40,074 | $ | 88 | $ | (129 | ) | $ | 40,033 | ||||||||
Available-for-Sale | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 139,980 | $ | 1,896 | $ | (192 | ) | $ | 141,684 | ||||||||
Commercial | 35,873 | 164 | (93 | ) | 35,944 | ||||||||||||
Obligations of states and political subdivisions | 15,673 | 1,241 | — | 16,914 | |||||||||||||
Obligations of U.S. government-sponsored agencies | 6,360 | 5 | (1 | ) | 6,364 | ||||||||||||
U.S. Treasury securities | 4,153 | — | (93 | ) | 4,060 | ||||||||||||
Total | $ | 202,039 | $ | 3,306 | $ | (379 | ) | $ | 204,966 | ||||||||
Held-to-Maturity | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | $ | 10,666 | $ | 65 | $ | (2 | ) | $ | 10,729 | ||||||||
Obligations of U.S. government-sponsored agencies | 17,870 | 19 | (52 | ) | 17,837 | ||||||||||||
Obligations of states and political subdivisions | 584 | 4 | — | 588 | |||||||||||||
Total | $ | 29,120 | $ | 88 | $ | (54 | ) | $ | 29,154 | ||||||||
Scheduled Maturities of Investment Securities Available-for-Sale and Held-to-Maturity | The scheduled maturities of investment securities available-for-sale and held-to-maturity as of March 31, 2015 are presented in the following table: | ||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||
Cost | Fair | Cost | Fair | ||||||||||||||
Value | Value | ||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Maturing within one year | $ | 422 | $ | 422 | $ | — | $ | — | |||||||||
Maturing after one to five years | 8,975 | 9,381 | 971 | 958 | |||||||||||||
Maturing after five to ten years | 119,536 | 120,515 | 6,568 | 6,581 | |||||||||||||
Maturing after ten years | 78,201 | 79,472 | 32,535 | 32,494 | |||||||||||||
Total | $ | 207,134 | $ | 209,790 | $ | 40,074 | $ | 40,033 | |||||||||
Investments' Gross Unrealized Losses and Fair Value | The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2015 and December 31, 2014. | ||||||||||||||||
Available-for-Sale | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 31,006 | $ | (99 | ) | $ | 7,203 | $ | (125 | ) | |||||||
Commercial | 28,923 | (225 | ) | 1,256 | (15 | ) | |||||||||||
Corporate notes | 796 | (2 | ) | — | — | ||||||||||||
Total | $ | 60,725 | $ | (326 | ) | $ | 8,459 | $ | (140 | ) | |||||||
Held-to-Maturity | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | $ | 13,740 | $ | (74 | ) | $ | — | $ | — | ||||||||
Obligations of U.S. government-sponsored agencies | 3,957 | (13 | ) | 1,673 | (42 | ) | |||||||||||
Total | $ | 17,697 | $ | (87 | ) | $ | 1,673 | $ | (42 | ) | |||||||
Available-for-Sale | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||
Residential | $ | 24,459 | $ | (67 | ) | $ | 7,630 | $ | (125 | ) | |||||||
Commercial | 19,069 | (70 | ) | 1,304 | (23 | ) | |||||||||||
Obligations of U.S. government-sponsored agencies | 1,999 | (1 | ) | — | — | ||||||||||||
Obligations of states and political subdivisions | 269 | — | — | — | |||||||||||||
U.S. Treasury securities | 80 | — | 3,980 | (93 | ) | ||||||||||||
Total | $ | 45,876 | $ | (138 | ) | $ | 12,914 | $ | (241 | ) | |||||||
Held-to-Maturity | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Less than 12 Months | 12 Months or More | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Obligations of U.S. government-sponsored agencies | $ | — | $ | — | $ | 11,664 | $ | (52 | ) | ||||||||
Mortgage-backed securities: | |||||||||||||||||
Commercial | 538 | (2 | ) | — | — | ||||||||||||
Total | $ | 538 | $ | (2 | ) | $ | 11,664 | $ | (52 | ) | |||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Schedule of Loan Portfolio by Reporting Segment and Portfolio Segment | As of March 31, 2015 and December 31, 2014, the composition of the loan portfolio by reporting segment and portfolio segment was as follows: | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
FUSB | ALC | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 10,137 | $ | — | $ | 10,137 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 29,545 | 20,209 | 49,754 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 18,837 | — | 18,837 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 86,982 | — | 86,982 | ||||||||||||||||||||||||||
Other | 58 | — | 58 | ||||||||||||||||||||||||||
Commercial and industrial loans | 17,897 | — | 17,897 | ||||||||||||||||||||||||||
Consumer loans | 7,254 | 61,321 | 68,575 | ||||||||||||||||||||||||||
Other loans | 775 | — | 775 | ||||||||||||||||||||||||||
Total loans | 171,485 | 81,530 | 253,015 | ||||||||||||||||||||||||||
Less: Unearned interest, fees and deferred cost | 174 | 8,222 | 8,396 | ||||||||||||||||||||||||||
Allowance for loan losses | 2,880 | 2,521 | 5,401 | ||||||||||||||||||||||||||
Net loans | $ | 168,431 | $ | 70,787 | $ | 239,218 | |||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
FUSB | ALC | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 10,431 | $ | — | $ | 10,431 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 30,795 | 21,309 | 52,104 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 20,403 | — | 20,403 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 104,883 | — | 104,883 | ||||||||||||||||||||||||||
Other | 58 | — | 58 | ||||||||||||||||||||||||||
Commercial and industrial loans | 16,838 | — | 16,838 | ||||||||||||||||||||||||||
Consumer loans | 7,188 | 61,833 | 69,021 | ||||||||||||||||||||||||||
Other loans | 579 | — | 579 | ||||||||||||||||||||||||||
Total loans | 191,175 | 83,142 | 274,317 | ||||||||||||||||||||||||||
Less: Unearned interest, fees and deferred cost | 189 | 8,444 | 8,633 | ||||||||||||||||||||||||||
Allowance for loan losses | 3,486 | 2,682 | 6,168 | ||||||||||||||||||||||||||
Net loans | $ | 187,500 | $ | 72,016 | $ | 259,516 | |||||||||||||||||||||||
Schedule of Changes in Allowance for Loan Losses and Recorded Investment in Loans | The following tables present changes in the allowance for loan losses by loan portfolio segment and loan type as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 141 | $ | 2,810 | $ | 114 | $ | 421 | $ | — | $ | 3,486 | |||||||||||||||||
Charge-offs | — | (77 | ) | (11 | ) | (40 | ) | — | (128 | ) | |||||||||||||||||||
Recoveries | 10 | 4 | 15 | 18 | — | 47 | |||||||||||||||||||||||
Provision | 10 | (334 | ) | (52 | ) | (149 | ) | — | (525 | ) | |||||||||||||||||||
Ending balance | 161 | 2,403 | 66 | 250 | — | 2,880 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 841 | — | — | — | 841 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 161 | $ | 1,562 | $ | 66 | $ | 250 | $ | — | $ | 2,039 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 17,897 | 116,014 | 7,254 | 29,545 | 775 | 171,485 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 9,429 | — | — | — | 9,429 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 17,897 | $ | 106,585 | $ | 7,254 | $ | 29,545 | $ | 775 | $ | 162,056 | |||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | 2,336 | $ | 346 | $ | — | $ | 2,682 | |||||||||||||||||
Charge-offs | — | — | (655 | ) | (80 | ) | — | (735 | ) | ||||||||||||||||||||
Recoveries | — | — | 209 | 7 | — | 216 | |||||||||||||||||||||||
Provision | — | — | 313 | 45 | — | 358 | |||||||||||||||||||||||
Ending balance | — | — | 2,203 | 318 | — | 2,521 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 2,203 | $ | 318 | $ | — | $ | 2,521 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | — | — | 61,321 | 20,209 | — | 81,530 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 61,321 | $ | 20,209 | $ | — | $ | 81,530 | |||||||||||||||||
FUSB & ALC | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 141 | $ | 2,810 | $ | 2,450 | $ | 767 | $ | — | $ | 6,168 | |||||||||||||||||
Charge-offs | — | (77 | ) | (666 | ) | (120 | ) | — | (863 | ) | |||||||||||||||||||
Recoveries | 10 | 4 | 224 | 25 | — | 263 | |||||||||||||||||||||||
Provision | 10 | (334 | ) | 261 | (104 | ) | — | (167 | ) | ||||||||||||||||||||
Ending balance | 161 | 2,403 | 2,269 | 568 | — | 5,401 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 841 | — | — | — | 841 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 161 | $ | 1,562 | $ | 2,269 | $ | 568 | $ | — | $ | 4,560 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 17,897 | 116,014 | 68,575 | 49,754 | 775 | 253,015 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 9,429 | — | — | — | 9,429 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 17,897 | $ | 106,585 | $ | 68,575 | $ | 49,754 | $ | 775 | $ | 243,586 | |||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 592 | $ | 4,852 | $ | 180 | $ | 635 | $ | 13 | $ | 6,272 | |||||||||||||||||
Charge-offs | (289 | ) | (1,329 | ) | (147 | ) | (176 | ) | — | (1,941 | ) | ||||||||||||||||||
Recoveries | 307 | 587 | 129 | 51 | 1 | 1,075 | |||||||||||||||||||||||
Provision | (469 | ) | (1,300 | ) | (48 | ) | (89 | ) | (14 | ) | (1,920 | ) | |||||||||||||||||
Ending balance | 141 | 2,810 | 114 | 421 | — | 3,486 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 762 | — | — | — | 762 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 141 | $ | 2,048 | $ | 114 | $ | 421 | $ | — | $ | 2,724 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 16,838 | 135,775 | 7,188 | 30,795 | 579 | 191,175 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 10,509 | — | 96 | — | 10,605 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 16,838 | $ | 125,266 | $ | 7,188 | $ | 30,699 | $ | 579 | $ | 180,570 | |||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | — | $ | — | $ | 2,667 | $ | 457 | $ | — | $ | 3,124 | |||||||||||||||||
Charge-offs | — | — | (2,778 | ) | (311 | ) | — | (3,089 | ) | ||||||||||||||||||||
Recoveries | — | — | 772 | 29 | — | 801 | |||||||||||||||||||||||
Provision | — | — | 1,675 | 171 | — | 1,846 | |||||||||||||||||||||||
Ending balance | — | — | 2,336 | 346 | — | 2,682 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 2,336 | $ | 346 | $ | — | $ | 2,682 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | — | — | 61,833 | 21,309 | — | 83,142 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | — | — | — | — | — | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | — | $ | — | $ | 61,833 | $ | 21,309 | $ | — | $ | 83,142 | |||||||||||||||||
FUSB & ALC | |||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | Commercial | Consumer | Residential | Other | Total | ||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 592 | $ | 4,852 | $ | 2,847 | $ | 1,092 | $ | 13 | $ | 9,396 | |||||||||||||||||
Charge-offs | (289 | ) | (1,329 | ) | (2,925 | ) | (487 | ) | — | (5,030 | ) | ||||||||||||||||||
Recoveries | 307 | 587 | 901 | 80 | 1 | 1,876 | |||||||||||||||||||||||
Provision | (469 | ) | (1,300 | ) | 1,627 | 82 | (14 | ) | (74 | ) | |||||||||||||||||||
Ending balance | 141 | 2,810 | 2,450 | 767 | — | 6,168 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 762 | — | — | — | 762 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 141 | $ | 2,048 | $ | 2,450 | $ | 767 | $ | — | $ | 5,406 | |||||||||||||||||
Loan receivables: | |||||||||||||||||||||||||||||
Ending balance | 16,838 | 135,775 | 69,021 | 52,104 | 579 | 274,317 | |||||||||||||||||||||||
Ending balance individually evaluated for | — | 10,509 | — | 96 | — | 10,605 | |||||||||||||||||||||||
impairment | |||||||||||||||||||||||||||||
Ending balance collectively evaluated for impairment | $ | 16,838 | $ | 125,266 | $ | 69,021 | $ | 52,008 | $ | 579 | $ | 263,712 | |||||||||||||||||
Schedule of Carrying Amount of Loans by Credit Quality Indicator | The tables below illustrate the carrying amount of loans by credit quality indicator as of March 31, 2015. | ||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
5-Jan | Mention | 7 | 8 | ||||||||||||||||||||||||||
6 | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 5,641 | $ | 2,515 | $ | 1,981 | $ | — | $ | 10,137 | |||||||||||||||||||
Secured by 1-4 family residential properties | 28,870 | — | 662 | 13 | 29,545 | ||||||||||||||||||||||||
Secured by multi-family residential properties | 16,478 | — | 2,359 | — | 18,837 | ||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 76,457 | 4,584 | 5,941 | — | 86,982 | ||||||||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||||||||
Commercial and industrial loans | 15,959 | 1,213 | 725 | — | 17,897 | ||||||||||||||||||||||||
Consumer loans | 7,167 | — | 87 | — | 7,254 | ||||||||||||||||||||||||
Other loans | 775 | — | — | — | 775 | ||||||||||||||||||||||||
Total | $ | 151,405 | $ | 8,312 | $ | 11,755 | $ | 13 | $ | 171,485 | |||||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Performing | Nonperforming | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | $ | 19,652 | $ | 557 | $ | 20,209 | |||||||||||||||||||||||
Consumer loans | 60,060 | 1,261 | 61,321 | ||||||||||||||||||||||||||
Total | $ | 79,712 | $ | 1,818 | $ | 81,530 | |||||||||||||||||||||||
The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2014. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||
5-Jan | Mention | 7 | 8 | ||||||||||||||||||||||||||
6 | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 5,326 | $ | 2,515 | $ | 2,590 | $ | — | $ | 10,431 | |||||||||||||||||||
Secured by 1-4 family residential properties | 27,956 | 638 | 2,201 | — | 30,795 | ||||||||||||||||||||||||
Secured by multi-family residential properties | 18,033 | — | 2,370 | — | 20,403 | ||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 86,812 | 10,905 | 7,166 | — | 104,883 | ||||||||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||||||||
Commercial and industrial loans | 14,915 | 1,222 | 701 | — | 16,838 | ||||||||||||||||||||||||
Consumer loans | 6,744 | 105 | 339 | — | 7,188 | ||||||||||||||||||||||||
Other loans | 577 | — | 2 | — | 579 | ||||||||||||||||||||||||
Total | $ | 160,421 | $ | 15,385 | $ | 15,369 | $ | — | $ | 191,175 | |||||||||||||||||||
ALC | |||||||||||||||||||||||||||||
Performing | Nonperforming | Total | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | $ | 20,778 | $ | 531 | $ | 21,309 | |||||||||||||||||||||||
Consumer loans | 60,459 | 1,374 | 61,833 | ||||||||||||||||||||||||||
Total | $ | 81,237 | $ | 1,905 | $ | 83,142 | |||||||||||||||||||||||
Schedule of Aging Analysis of Past Due Loans | The following tables provide an aging analysis of past due loans by class as of March 31, 2015. | ||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | 86 | $ | 86 | $ | 10,051 | $ | 10,137 | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 244 | 18 | 429 | 691 | 28,854 | 29,545 | 30 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | 18,837 | 18,837 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | 62 | — | 1,043 | 1,105 | 85,877 | 86,982 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | 58 | 58 | — | ||||||||||||||||||||||
Commercial and industrial loans | 28 | — | — | 28 | 17,869 | 17,897 | — | ||||||||||||||||||||||
Consumer loans | 16 | — | 17 | 33 | 7,221 | 7,254 | — | ||||||||||||||||||||||
Other loans | — | — | 11 | 11 | 764 | 775 | — | ||||||||||||||||||||||
Total | $ | 350 | $ | 18 | $ | 1,586 | $ | 1,954 | $ | 169,531 | $ | 171,485 | $ | 30 | |||||||||||||||
ALC | |||||||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 182 | 147 | 524 | 853 | 19,356 | 20,209 | 426 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial and industrial loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer loans | 672 | 558 | 1,238 | 2,468 | 58,853 | 61,321 | 1,237 | ||||||||||||||||||||||
Other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 854 | $ | 705 | $ | 1,762 | $ | 3,321 | $ | 78,209 | $ | 81,530 | $ | 1,663 | |||||||||||||||
The following tables provide an aging analysis of past due loans by class as of December 31, 2014. | |||||||||||||||||||||||||||||
FUSB | |||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | Investment | ||||||||||||||||||||||||
Past | Past | 90 | Due | > | |||||||||||||||||||||||||
Due | Due | Days | 90 Days | ||||||||||||||||||||||||||
And | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | 41 | $ | — | $ | 86 | $ | 127 | $ | 10,304 | $ | 10,431 | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 200 | 20 | 852 | 1,072 | 29,723 | 30,795 | — | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | 20,403 | 20,403 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | 268 | 159 | 1,743 | 2,170 | 102,713 | 104,883 | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | 58 | 58 | — | ||||||||||||||||||||||
Commercial and industrial loans | — | 8 | — | 8 | 16,830 | 16,838 | — | ||||||||||||||||||||||
Consumer loans | 12 | 3 | 24 | 39 | 7,149 | 7,188 | — | ||||||||||||||||||||||
Other loans | 4 | — | 12 | 16 | 563 | 579 | 11 | ||||||||||||||||||||||
Total | $ | 525 | $ | 190 | $ | 2,717 | $ | 3,432 | $ | 187,743 | $ | 191,175 | $ | 11 | |||||||||||||||
ALC | |||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Total | Recorded Investment | |||||||||||||||||||||||
Days | Days | Than | Past | Loans | > | ||||||||||||||||||||||||
Past | Past | 90 | Due | 90 Days | |||||||||||||||||||||||||
Due | Due | Days | And | ||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
land loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 182 | 147 | 501 | 830 | 20,480 | 21,310 | 401 | ||||||||||||||||||||||
Secured by multi-family residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Secured by non-farm, non-residential | — | — | — | — | — | — | — | ||||||||||||||||||||||
properties | |||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial and industrial loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer loans | 671 | 558 | 1,346 | 2,575 | 59,257 | 61,832 | 1,335 | ||||||||||||||||||||||
Other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 853 | $ | 705 | $ | 1,847 | $ | 3,405 | $ | 79,737 | $ | 83,142 | $ | 1,736 | |||||||||||||||
Schedule of Analysis of Non-Accruing Loans | The following table provides an analysis of non-accruing loans by class as of March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||||||
Loans on Non-Accrual Status | |||||||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 347 | $ | 956 | |||||||||||||||||||||||||
Secured by 1-4 family residential properties | 800 | 1,277 | |||||||||||||||||||||||||||
Secured by multi-family residential properties | — | — | |||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 1,135 | 2,314 | |||||||||||||||||||||||||||
Commercial and industrial loans | 130 | 139 | |||||||||||||||||||||||||||
Consumer loans | 110 | 140 | |||||||||||||||||||||||||||
Total loans | $ | 2,522 | $ | 4,826 | |||||||||||||||||||||||||
Schedule of Carrying Amount of Impaired Loans | As of March 31, 2015, the carrying amount of impaired loans consisted of the following: | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | Carrying | Unpaid | Related | ||||||||||||||||||||||||||
Amount | Principal | Allowances | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 752 | 752 | — | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,247 | 5,247 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with no related allowance recorded | $ | 7,540 | $ | 7,540 | $ | — | |||||||||||||||||||||||
Impaired loans with an allowance recorded | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | — | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 1,889 | 1,889 | 841 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with an allowance recorded | $ | 1,889 | $ | 1,889 | $ | 841 | |||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,641 | 2,641 | 841 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,247 | 5,247 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total impaired loans | $ | 9,429 | $ | 9,429 | $ | 841 | |||||||||||||||||||||||
As of December 31, 2014, the carrying amount of impaired loans consisted of the following: | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | Carrying | Unpaid | Related | ||||||||||||||||||||||||||
Amount | Principal | Allowances | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,445 | $ | 1,445 | $ | — | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 755 | 1,146 | — | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 6,091 | 6,091 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with no related allowance recorded | $ | 8,387 | $ | 8,778 | $ | — | |||||||||||||||||||||||
Impaired loans with an allowance recorded | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 603 | $ | 603 | $ | 71 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | — | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 1,615 | 1,615 | 691 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | — | — | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total loans with an allowance recorded | $ | 2,218 | $ | 2,218 | $ | 762 | |||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 2,048 | $ | 2,048 | $ | 71 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | 96 | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,370 | 2,761 | 691 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 6,091 | 6,091 | — | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total impaired loans | $ | 10,605 | $ | 10,996 | $ | 762 | |||||||||||||||||||||||
Schedule of Average Net Investment Impaired Loans and Interest Income Recognized and Received on Impaired Loans | The average net investment in impaired loans and interest income recognized and received on impaired loans during the three months ended March 31, 2015 and the year ended December 31, 2014 were as follows: | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
Average | Interest | Interest | |||||||||||||||||||||||||||
Recorded | Income | Income | |||||||||||||||||||||||||||
Investment | Recognized | Received | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 1,637 | $ | 12 | $ | 15 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 96 | — | — | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 2,458 | 88 | 83 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5,798 | 63 | 50 | ||||||||||||||||||||||||||
Commercial and industrial | — | — | — | ||||||||||||||||||||||||||
Total | $ | 9,989 | $ | 163 | $ | 148 | |||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Average | Interest | Interest | |||||||||||||||||||||||||||
Recorded | Income | Income | |||||||||||||||||||||||||||
Investment | Recognized | Received | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate | |||||||||||||||||||||||||||||
Construction, land development and other land loans | $ | 2,769 | $ | 46 | $ | 46 | |||||||||||||||||||||||
Secured by 1-4 family residential properties | 143 | 3 | 3 | ||||||||||||||||||||||||||
Secured by multi-family residential properties | 3,565 | 178 | 170 | ||||||||||||||||||||||||||
Secured by non-farm, non-residential properties | 8,186 | 324 | 320 | ||||||||||||||||||||||||||
Commercial and industrial | 80 | 1 | 1 | ||||||||||||||||||||||||||
Total | $ | 14,743 | $ | 552 | $ | 540 | |||||||||||||||||||||||
Schedule of Number of Loans Modified Troubled Debt Restructuring by Loan Portfolio | The following table provides the number of loans that the Bank had modified in a troubled debt restructuring by loan portfolio as of March 31, 2015 and December 31, 2014, as well as the pre- and post-modification principal balance as of March 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Loans | Outstanding | Principal | Loans | Outstanding | Principal | ||||||||||||||||||||||||
Principal | Balance | Principal | Balance | ||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Loans secured by real estate: | |||||||||||||||||||||||||||||
Construction, land development and other land | 3 | $ | 2,220 | $ | 1,756 | 4 | $ | 3,282 | $ | 2,365 | |||||||||||||||||||
loans | |||||||||||||||||||||||||||||
Secured by 1-4 family residential properties | 4 | 200 | 152 | 4 | 200 | 156 | |||||||||||||||||||||||
Secured by non-farm, non-residential properties | 5 | 1,368 | 1,189 | 6 | 1,448 | 1,299 | |||||||||||||||||||||||
Commercial loans | 3 | 159 | 103 | 4 | 159 | 109 | |||||||||||||||||||||||
Total | 15 | $ | 3,947 | $ | 3,200 | 18 | $ | 5,089 | $ | 3,929 | |||||||||||||||||||
The following table provides the number of loans modified in a troubled debt restructuring that have subsequently defaulted, by loan portfolio, as of March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
of | Investment | of | Investment | ||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Construction, land development and other land loans | — | $ | — | — | $ | — | |||||||||||||||||||||||
Secured by non-farm, non-residential properties | 2 | 886 | 2 | 886 | |||||||||||||||||||||||||
Total | 2 | $ | 886 | 2 | $ | 886 | |||||||||||||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Banking And Thrift [Abstract] | |||||||||||||
Summary of Foreclosed Property Activity | The following table summarizes foreclosed property activity as of the three months ended March 31, 2015 and 2014: | ||||||||||||
31-Mar-15 | |||||||||||||
FUSB | ALC | Total | |||||||||||
(Dollars in Thousands) | |||||||||||||
Beginning Balance | $ | 6,997 | $ | 738 | $ | 7,735 | |||||||
Transfers from loans | 995 | 63 | 1,058 | ||||||||||
Sales proceeds | (40 | ) | (66 | ) | (106 | ) | |||||||
Gross gains | — | — | — | ||||||||||
Gross losses | (3 | ) | (46 | ) | (49 | ) | |||||||
Net gains (losses) | (3 | ) | (46 | ) | (49 | ) | |||||||
Impairment | — | (30 | ) | (30 | ) | ||||||||
Ending Balance | $ | 7,949 | $ | 659 | $ | 8,608 | |||||||
31-Mar-14 | |||||||||||||
FUSB | ALC | Total | |||||||||||
(Dollars in Thousands) | |||||||||||||
Beginning Balance | $ | 8,463 | $ | 847 | $ | 9,310 | |||||||
Transfers from loans | 2,154 | 166 | 2,320 | ||||||||||
Sales proceeds | (1,239 | ) | (41 | ) | (1,280 | ) | |||||||
Gross gains | 147 | — | 147 | ||||||||||
Gross losses | (33 | ) | (26 | ) | (59 | ) | |||||||
Net gains (losses) | 114 | (26 | ) | 88 | |||||||||
Impairment | (10 | ) | (44 | ) | (54 | ) | |||||||
Ending Balance | $ | 9,482 | $ | 902 | $ | 10,384 | |||||||
Stock_Option_Grants_Tables
Stock Option Grants (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||||||||||
Summary of Stock Option Activity | The following table summarizes the Company’s stock option activity for the periods presented. | ||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||
Number of | Average | Number of | Average | ||||||||||||||
Shares | Exercise | Shares | Exercise | ||||||||||||||
Price | Price | ||||||||||||||||
Options: | |||||||||||||||||
Outstanding, beginning of period | 83,400 | $ | 8.09 | — | $ | — | |||||||||||
Granted | 96,150 | 8.23 | 10,750 | 8 | |||||||||||||
Exercised | — | — | — | — | |||||||||||||
Expired | — | — | — | — | |||||||||||||
Forfeited | 2,500 | 8.09 | — | — | |||||||||||||
Options outstanding, end of period | 177,050 | $ | 8.16 | 10,750 | $ | 8 | |||||||||||
Options exercisable, end of period | 81,900 | $ | 8.09 | — | $ | — | |||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Summary of Results for Reportable Segments | All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below. | ||||||||||||||||||||
All | |||||||||||||||||||||
FUSB | ALC | Other | Eliminations | Consolidated | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
For the three months ended March 31, 2015: | |||||||||||||||||||||
Net interest income | $ | 3,844 | $ | 2,861 | $ | 2 | $ | — | $ | 6,707 | |||||||||||
Provision (reduction in reserve) for loan losses | (525 | ) | 359 | — | — | (166 | ) | ||||||||||||||
Total non-interest income | 1,149 | 220 | 1,113 | (1,191 | ) | 1,291 | |||||||||||||||
Total non-interest expense | 4,281 | 2,493 | 356 | (153 | ) | 6,977 | |||||||||||||||
Income before income taxes | 1,237 | 229 | 759 | (1,038 | ) | 1,187 | |||||||||||||||
Provision for income taxes | 370 | 86 | (105 | ) | — | 351 | |||||||||||||||
Net income | $ | 867 | $ | 143 | $ | 864 | $ | (1,038 | ) | $ | 836 | ||||||||||
Other significant items: | |||||||||||||||||||||
Total assets | $ | 567,318 | $ | 75,124 | $ | 82,175 | $ | (159,735 | ) | $ | 564,882 | ||||||||||
Total investment securities | 249,784 | — | 80 | — | 249,864 | ||||||||||||||||
Total loans, net | 231,778 | 70,786 | — | (63,346 | ) | 239,218 | |||||||||||||||
Investment in subsidiaries | 5 | — | 76,865 | (76,865 | ) | 5 | |||||||||||||||
Fixed asset addition | 1,241 | 162 | — | — | 1,403 | ||||||||||||||||
Depreciation and amortization expense | 153 | 60 | — | — | 213 | ||||||||||||||||
Total interest income from external customers | 3,578 | 3,743 | — | — | 7,321 | ||||||||||||||||
Total interest income from affiliates | 882 | — | 2 | (884 | ) | — | |||||||||||||||
All | |||||||||||||||||||||
FUSB | ALC | Other | Eliminations | Consolidated | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
For the three months ended March 31, 2014: | |||||||||||||||||||||
Net interest income | $ | 4,087 | $ | 3,112 | $ | 2 | $ | — | $ | 7,201 | |||||||||||
Provision (reduction in reserve) for loan losses | (175 | ) | 589 | — | — | 414 | |||||||||||||||
Total non-interest income | 931 | 286 | 1,043 | (1,113 | ) | 1,147 | |||||||||||||||
Total non-interest expense | 4,330 | 2,556 | 208 | (210 | ) | 6,884 | |||||||||||||||
Income before income taxes | 863 | 253 | 837 | (903 | ) | 1,050 | |||||||||||||||
Provision for income taxes | 176 | 99 | 1 | — | 276 | ||||||||||||||||
Net income | $ | 687 | $ | 154 | $ | 836 | $ | (903 | ) | $ | 774 | ||||||||||
Other significant items: | |||||||||||||||||||||
Total assets | $ | 577,804 | $ | 68,625 | $ | 77,515 | $ | (148,228 | ) | $ | 575,716 | ||||||||||
Total investment securities | 189,826 | — | 80 | — | 189,906 | ||||||||||||||||
Total loans, net | 268,000 | 65,438 | — | (56,721 | ) | 276,717 | |||||||||||||||
Investment in subsidiaries | 784 | — | 72,416 | (73,195 | ) | 5 | |||||||||||||||
Fixed asset addition | 708 | 13 | — | — | 721 | ||||||||||||||||
Depreciation and amortization expense | 128 | 52 | — | — | 180 | ||||||||||||||||
Total interest income from external customers | 3,969 | 3,877 | — | — | 7,846 | ||||||||||||||||
Total interest income from affiliates | 765 | — | 3 | (768 | ) | — | |||||||||||||||
Guarantees_Commitments_and_Con1
Guarantees, Commitments and Contingencies (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||
Summary of Commitments and Contingent Liabilities | A summary of these commitments and contingent liabilities is presented below: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(Dollars in Thousands) | |||||||||
Standby letters of credit | $ | 833 | $ | 833 | |||||
Commitments to extend credit | $ | 30,460 | $ | 31,644 | |||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Schedule of Assets Measured at Fair Value on Recurring Basis | The following table presents assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014. There were no liabilities measured at fair value on a recurring basis for either period presented. | ||||||||||||||||||||
Fair Value Measurements as of March 31, 2015 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
March 31, | Active | Observable | Inputs | ||||||||||||||||||
2015 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Investment securities, available-for-sale | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Residential | $ | 137,761 | $ | — | $ | 137,761 | $ | — | |||||||||||||
Commercial | 48,551 | — | 48,551 | — | |||||||||||||||||
Obligations of states and political subdivisions | 16,240 | — | 16,240 | — | |||||||||||||||||
Obligations of U.S. government-sponsored | 6,362 | — | 6,362 | — | |||||||||||||||||
agencies | |||||||||||||||||||||
Corporate Notes | 796 | — | 796 | — | |||||||||||||||||
U.S. Treasury securities | 80 | — | 80 | — | |||||||||||||||||
Other assets - derivatives | 28 | — | 28 | — | |||||||||||||||||
Fair Value Measurements as of December 31, 2014 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
December 31, | Active | Observable | Inputs | ||||||||||||||||||
2014 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Investment securities, available-for-sale | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
Residential | $ | 141,684 | $ | — | $ | 141,684 | $ | — | |||||||||||||
Commercial | 35,944 | — | 35,944 | — | |||||||||||||||||
Obligations of states and political subdivisions | 16,914 | — | 16,914 | — | |||||||||||||||||
Obligations of U.S. government-sponsored | 6,364 | — | 6,364 | — | |||||||||||||||||
agencies | |||||||||||||||||||||
U.S. Treasury securities | 4,060 | — | 4,060 | — | |||||||||||||||||
Other assets - derivatives | 68 | — | 68 | — | |||||||||||||||||
Balances of Impaired Loans and OREO Measured at Fair Value on Nonrecurring Basis | The following table presents the balances of impaired loans and OREO measured at fair value on a non-recurring basis as of March 31, 2015 and December 31, 2014. | ||||||||||||||||||||
Fair Value Measurements as of March 31, 2015 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
March 31, | Active | Observable | Inputs | ||||||||||||||||||
2015 | Markets For | Inputs | (Level 3) | ||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Impaired loans | $ | 1,048 | $ | — | $ | — | $ | 1,048 | |||||||||||||
OREO | 8,608 | — | — | 8,608 | |||||||||||||||||
Fair Value Measurements as of December 31, 2014 Using | |||||||||||||||||||||
Totals | Quoted | Significant | Significant | ||||||||||||||||||
At | Prices in | Other | Unobservable | ||||||||||||||||||
December 31, | Active | Observable | Inputs | ||||||||||||||||||
2014 | Markets For Identical | Inputs | (Level 3) | ||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Impaired loans | $ | 1,456 | $ | — | $ | — | $ | 1,456 | |||||||||||||
OREO | 7,735 | — | — | 7,735 | |||||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) | Following the table is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input. | ||||||||||||||||||||
Level 3 Significant Unobservable Input Assumptions | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Quantitative Range | ||||||||||||||||||
March 31, | of Unobservable | ||||||||||||||||||||
2015 | Inputs | ||||||||||||||||||||
(Weighted | |||||||||||||||||||||
Average) | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Non-recurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 1,048 | Multiple data points, | Appraisal comparability | 9% - 10% | ||||||||||||||||
including discount to | adjustment (discount) | -9.00% | |||||||||||||||||||
appraised value of | |||||||||||||||||||||
collateral based on | |||||||||||||||||||||
recent market activity | |||||||||||||||||||||
OREO | $ | 8,608 | Discount to appraised | Appraisal comparability | 9% - 10% | ||||||||||||||||
value of property based | adjustment (discount) | -9.00% | |||||||||||||||||||
on recent market | |||||||||||||||||||||
activity for sales of | |||||||||||||||||||||
similar properties | |||||||||||||||||||||
Schedule of Estimated Fair Value and Related Carrying or Notional Amounts of Company's Financial Instruments | The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of March 31, 2015 and December 31, 2014, were as follows: | ||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 30,317 | $ | 30,317 | $ | 30,317 | $ | — | $ | — | |||||||||||
Investment securities available-for-sale | 209,790 | 209,790 | — | 209,790 | — | ||||||||||||||||
Investment securities held-to-maturity | 40,074 | 40,033 | — | 40,033 | — | ||||||||||||||||
Federal Home Loan Bank stock | 740 | 740 | — | — | 740 | ||||||||||||||||
Loans, net of allowance for loan losses | 239,218 | 239,740 | — | — | 239,740 | ||||||||||||||||
Other assets – derivatives | 28 | 28 | — | 28 | — | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits | 475,288 | 476,009 | — | 476,009 | — | ||||||||||||||||
Short-term borrowings | 680 | 680 | — | 680 | — | ||||||||||||||||
Long-term debt | 5,000 | 5,005 | — | 5,005 | — | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 34,166 | $ | 34,166 | $ | 34,166 | $ | — | $ | — | |||||||||||
Investment securities available-for-sale | 204,966 | 204,966 | — | 204,966 | — | ||||||||||||||||
Investment securities held-to-maturity | 29,120 | 29,154 | — | 29,154 | — | ||||||||||||||||
Federal Home Loan Bank stock | 738 | 738 | — | — | 738 | ||||||||||||||||
Loans, net of allowance for loan losses | 259,516 | 259,337 | — | — | 259,337 | ||||||||||||||||
Other assets – derivatives | 68 | 68 | — | 68 | — | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits | 483,659 | 484,108 | — | 484,108 | — | ||||||||||||||||
Short-term borrowings | 436 | 436 | — | 436 | — | ||||||||||||||||
Long-term debt | 5,000 | 5,007 | — | 5,007 | — | ||||||||||||||||
Net_Income_Per_Share_Basic_and
Net Income Per Share - Basic and Diluted Net Income Per Share Calculations (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Basic shares | 6,134,808 | 6,121,375 |
Dilutive shares | 177,050 | 10,750 |
Diluted shares | 6,311,858 | 6,132,125 |
Net income | $836 | $774 |
Basic net income per share | $0.14 | $0.13 |
Diluted net income per share | $0.13 | $0.13 |
Investment_Securities_Investme
Investment Securities - Investment Securities Available-for-Sale and Held-to-Maturity (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | $207,134 | $202,039 |
Available-for-Sale, Gross Unrealized Gains | 3,122 | 3,306 |
Available-for-Sale, Gross Unrealized Losses | -466 | -379 |
Available-for-Sale, Estimated Fair Value | 209,790 | 204,966 |
Held-to-Maturity, Amortized Cost | 40,074 | 29,120 |
Held-to-Maturity, Gross Unrealized Gains | 88 | 88 |
Held-to-Maturity, Gross Unrealized Losses | -129 | -54 |
Held-to-Maturity, Estimated Fair Value | 40,033 | 29,154 |
Residential [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 136,318 | 139,980 |
Available-for-Sale, Gross Unrealized Gains | 1,667 | 1,896 |
Available-for-Sale, Gross Unrealized Losses | -224 | -192 |
Available-for-Sale, Estimated Fair Value | 137,761 | 141,684 |
Commercial [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 48,525 | 35,873 |
Available-for-Sale, Gross Unrealized Gains | 266 | 164 |
Available-for-Sale, Gross Unrealized Losses | -240 | -93 |
Available-for-Sale, Estimated Fair Value | 48,551 | 35,944 |
Held-to-Maturity, Amortized Cost | 16,820 | 10,666 |
Held-to-Maturity, Gross Unrealized Gains | 48 | 65 |
Held-to-Maturity, Gross Unrealized Losses | -74 | -2 |
Held-to-Maturity, Estimated Fair Value | 16,794 | 10,729 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 15,075 | 15,673 |
Available-for-Sale, Gross Unrealized Gains | 1,165 | 1,241 |
Available-for-Sale, Estimated Fair Value | 16,240 | 16,914 |
Held-to-Maturity, Amortized Cost | 582 | 584 |
Held-to-Maturity, Gross Unrealized Gains | 4 | |
Held-to-Maturity, Estimated Fair Value | 582 | 588 |
Obligations of U.S. Government Sponsored Agencies [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 6,338 | 6,360 |
Available-for-Sale, Gross Unrealized Gains | 24 | 5 |
Available-for-Sale, Gross Unrealized Losses | -1 | |
Available-for-Sale, Estimated Fair Value | 6,362 | 6,364 |
Held-to-Maturity, Amortized Cost | 22,672 | 17,870 |
Held-to-Maturity, Gross Unrealized Gains | 40 | 19 |
Held-to-Maturity, Gross Unrealized Losses | -55 | -52 |
Held-to-Maturity, Estimated Fair Value | 22,657 | 17,837 |
Corporate notes [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 798 | |
Available-for-Sale, Gross Unrealized Losses | -2 | |
Available-for-Sale, Estimated Fair Value | 796 | |
U.S. Treasury Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 80 | 4,153 |
Available-for-Sale, Gross Unrealized Losses | -93 | |
Available-for-Sale, Estimated Fair Value | $80 | $4,060 |
Investment_Securities_Schedule
Investment Securities - Scheduled Maturities of Investment Securities Available-for-Sale and Held-to-Maturity (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ||
Available-for-Sale, Maturing within one year, Amortized Cost | $422 | |
Available-for-Sale, Maturing after one to five years, Amortized Cost | 8,975 | |
Available-for-Sale, Maturing after five to ten years, Amortized Cost | 119,536 | |
Available-for-Sale, Maturing after ten years, Amortized Cost | 78,201 | |
Available-for-Sale, Amortized Cost | 207,134 | 202,039 |
Available-for-Sale, Maturing within one year, Estimated Fair Value | 422 | |
Available-for-Sale, Maturing after one to five years, Estimated Fair Value | 9,381 | |
Available-for-Sale, Maturing after five to ten years, Estimated Fair Value | 120,515 | |
Available-for-Sale, Maturing after ten years, Estimated Fair Value | 79,472 | |
Available-for-Sale, Estimated Fair Value, Total | 209,790 | 204,966 |
Held-to-Maturity, Maturing after one to five years, Amortized Cost | 971 | |
Held-to-Maturity, Maturing after five to ten years, Amortized Cost | 6,568 | |
Held-to-Maturity, Maturing after ten years, Amortized Cost | 32,535 | |
Held-to-Maturity, Amortized Cost | 40,074 | 29,120 |
Held-to-Maturity, Maturing after one to five years, Estimated Fair Value | 958 | |
Held-to-Maturity, Maturing after five to ten years, Estimated Fair Value | 6,581 | |
Held-to-Maturity, Maturing after ten years, Estimated Fair Value | 32,494 | |
Held-to-Maturity, Estimated Fair Value, Total | $40,033 | $29,154 |
Investment_Securities_Investme1
Investment Securities - Investments' Gross Unrealized Losses and Fair Value (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | $60,725 | $45,876 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -326 | -138 |
Available-for-Sale, 12 Months or More, Fair Value | 8,459 | 12,914 |
Available-for-Sale, 12 Months or More, Unrealized Losses | -140 | -241 |
Held-to-Maturity, Less than 12 Months, Fair Value | 17,697 | 538 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -87 | -2 |
Held-to-Maturity, 12 Months or More, Fair Value | 1,673 | 11,664 |
Held-to-Maturity, 12 Months or More, Unrealized Losses | -42 | -52 |
Residential [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 31,006 | 24,459 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -99 | -67 |
Available-for-Sale, 12 Months or More, Fair Value | 7,203 | 7,630 |
Available-for-Sale, 12 Months or More, Unrealized Losses | -125 | -125 |
Commercial [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 28,923 | 19,069 |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -225 | -70 |
Available-for-Sale, 12 Months or More, Fair Value | 1,256 | 1,304 |
Available-for-Sale, 12 Months or More, Unrealized Losses | -15 | -23 |
Held-to-Maturity, Less than 12 Months, Fair Value | 13,740 | 538 |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -74 | -2 |
Corporate notes [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 796 | |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -2 | |
Obligations of U.S. Government Sponsored Agencies [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 1,999 | |
Available-for-Sale, Less than 12 Months, Unrealized Losses | -1 | |
Held-to-Maturity, Less than 12 Months, Fair Value | 3,957 | |
Held-to-Maturity, Less than 12 Months, Unrealized Losses | -13 | |
Held-to-Maturity, 12 Months or More, Fair Value | 1,673 | 11,664 |
Held-to-Maturity, 12 Months or More, Unrealized Losses | -42 | -52 |
Obligations of States and Political Subdivisions [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 269 | |
U.S. Treasury Securities [Member] | ||
Available For Sale And Held To Maturity Securities In Continuous Unrealized Loss Position [Line Items] | ||
Available-for-Sale, Less than 12 Months, Fair Value | 80 | |
Available-for-Sale, 12 Months or More, Fair Value | 3,980 | |
Available-for-Sale, 12 Months or More, Unrealized Losses | ($93) |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
security | |||
Investments Debt And Equity Securities [Abstract] | |||
Number of debt securities continues loss position for more than twelve months | 5 | ||
Number of debt securities continues loss position for less than twelve months | 51 | ||
Investment securities available-for-sale carrying amount | $66,300,000 | $61,100,000 | |
Gains realized on sales of securities available-for-sale | 277,000 | 92,000 | 100,000 |
Losses on sales of securities | $0 | $0 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of portfolio segments | 8 | |
Related party loans and commitments | $3,000,000 | $3,100,000 |
New loans to parties | 0 | 0 |
Repayments of loan | 30,000 | 500,000 |
Loans on which the accrual of interest has been discontinued | 2,522,000 | 4,826,000 |
Accrued interest on loans | 30,000 | 100,000 |
Interest income recorded | 30,000 | 200,000 |
Accruing loans past due 90 days or more amounted | 1,700,000 | 1,700,000 |
Trouble Debt restructuring Modified period term | 6 months | |
Period of repayment performance under the modified loan terms | 6 months | |
Non-accruing loans restructured and remained on nonaccrual status | 1,500,000 | 4,900,000 |
Repayments of loans | 200,000 | 0 |
Troubled debt restructuring evaluated impairment | 500,000 | 500,000 |
Allowance for loans losses | 10,000 | 900,000 |
Restructured Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled debt restructuring evaluated impairment | 0 | |
Allowance for loans losses | 0 | |
Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan amount threshold for impairment analysis | $500,000 | |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of loan portfolio | 65.50% | 68.50% |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Schedule of Loan Portfolio by Reporting Segment and Portfolio Segment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | $253,015 | $274,317 | ||
Less: Unearned interest, fees and deferred cost | 8,396 | 8,633 | ||
Allowance for loan losses | 5,401 | 6,168 | ||
Net loans | 239,218 | 259,516 | 276,717 | |
FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 171,485 | 191,175 | ||
Less: Unearned interest, fees and deferred cost | 174 | 189 | ||
Allowance for loan losses | 2,880 | 3,486 | 6,272 | |
Net loans | 168,431 | 187,500 | ||
ALC [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 81,530 | 83,142 | ||
Less: Unearned interest, fees and deferred cost | 8,222 | 8,444 | ||
Allowance for loan losses | 2,521 | 2,682 | 3,124 | |
Net loans | 70,787 | 72,016 | ||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 10,137 | 10,431 | ||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 10,137 | 10,431 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 49,754 | 52,104 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 29,545 | 30,795 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 20,209 | 21,309 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 18,837 | 20,403 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 18,837 | 20,403 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 86,982 | 104,883 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 86,982 | 104,883 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 58 | 58 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 58 | 58 | ||
Commercial and Industrial Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 17,897 | 16,838 | ||
Commercial and Industrial Loans [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 17,897 | 16,838 | ||
Allowance for loan losses | 161 | 141 | 592 | |
Consumer Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 68,575 | 69,021 | ||
Consumer Loans [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 7,254 | 7,188 | ||
Allowance for loan losses | 66 | 114 | 180 | |
Consumer Loans [Member] | ALC [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 61,321 | 61,833 | ||
Allowance for loan losses | 2,203 | 2,336 | 2,667 | |
Other Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 775 | 579 | ||
Other Loans [Member] | FUSB [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans | 775 | 579 | ||
Allowance for loan losses | $13 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Schedule of Changes in Allowance for Loan Losses and Recorded Investment in Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Allowance for loan losses: | |||
Beginning balance | $6,168 | ||
Provision (reduction in reserve) for loan losses | -166 | 414 | |
Ending balance | 5,401 | ||
Loan receivables: | |||
Ending balance | 253,015 | 274,317 | |
Commercial and Industrial Loans [Member] | |||
Loan receivables: | |||
Ending balance | 17,897 | 16,838 | |
Consumer Loans [Member] | |||
Loan receivables: | |||
Ending balance | 68,575 | 69,021 | |
Other Loans [Member] | |||
Loan receivables: | |||
Ending balance | 775 | 579 | |
FUSB [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 3,486 | 6,272 | 6,272 |
Charge-offs | -128 | -1,941 | |
Recoveries | 47 | 1,075 | |
Provision (reduction in reserve) for loan losses | -525 | -1,920 | |
Ending balance | 2,880 | 3,486 | |
Ending balance individually evaluated for impairment | 841 | 762 | |
Ending balance collectively evaluated for impairment | 2,039 | 2,724 | |
Loan receivables: | |||
Ending balance | 171,485 | 191,175 | |
Ending balance individually evaluated for impairment | 9,429 | 10,605 | |
Ending balance collectively evaluated for impairment | 162,056 | 180,570 | |
FUSB [Member] | Commercial and Industrial Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 141 | 592 | 592 |
Charge-offs | -289 | ||
Recoveries | 10 | 307 | |
Provision (reduction in reserve) for loan losses | 10 | -469 | |
Ending balance | 161 | 141 | |
Ending balance collectively evaluated for impairment | 161 | 141 | |
Loan receivables: | |||
Ending balance | 17,897 | 16,838 | |
Ending balance collectively evaluated for impairment | 17,897 | 16,838 | |
FUSB [Member] | Commercial Real Estate [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 2,810 | 4,852 | 4,852 |
Charge-offs | -77 | -1,329 | |
Recoveries | 4 | 587 | |
Provision (reduction in reserve) for loan losses | -334 | -1,300 | |
Ending balance | 2,403 | 2,810 | |
Ending balance individually evaluated for impairment | 841 | 762 | |
Ending balance collectively evaluated for impairment | 1,562 | 2,048 | |
Loan receivables: | |||
Ending balance | 116,014 | 135,775 | |
Ending balance individually evaluated for impairment | 9,429 | 10,509 | |
Ending balance collectively evaluated for impairment | 106,585 | 125,266 | |
FUSB [Member] | Consumer Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 114 | 180 | 180 |
Charge-offs | -11 | -147 | |
Recoveries | 15 | 129 | |
Provision (reduction in reserve) for loan losses | -52 | -48 | |
Ending balance | 66 | 114 | |
Ending balance collectively evaluated for impairment | 66 | 114 | |
Loan receivables: | |||
Ending balance | 7,254 | 7,188 | |
Ending balance collectively evaluated for impairment | 7,254 | 7,188 | |
FUSB [Member] | Residential Real Estate [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 421 | 635 | 635 |
Charge-offs | -40 | -176 | |
Recoveries | 18 | 51 | |
Provision (reduction in reserve) for loan losses | -149 | -89 | |
Ending balance | 250 | 421 | |
Ending balance collectively evaluated for impairment | 250 | 421 | |
Loan receivables: | |||
Ending balance | 29,545 | 30,795 | |
Ending balance individually evaluated for impairment | 96 | ||
Ending balance collectively evaluated for impairment | 29,545 | 30,699 | |
FUSB [Member] | Other Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 13 | 13 | |
Recoveries | 1 | ||
Provision (reduction in reserve) for loan losses | -14 | ||
Loan receivables: | |||
Ending balance | 775 | 579 | |
Ending balance collectively evaluated for impairment | 775 | 579 | |
ALC [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 2,682 | 3,124 | 3,124 |
Charge-offs | -735 | -3,089 | |
Recoveries | 216 | 801 | |
Provision (reduction in reserve) for loan losses | 358 | 1,846 | |
Ending balance | 2,521 | 2,682 | |
Ending balance collectively evaluated for impairment | 2,521 | 2,682 | |
Loan receivables: | |||
Ending balance | 81,530 | 83,142 | |
Ending balance collectively evaluated for impairment | 81,530 | 83,142 | |
ALC [Member] | Consumer Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 2,336 | 2,667 | 2,667 |
Charge-offs | -655 | -2,778 | |
Recoveries | 209 | 772 | |
Provision (reduction in reserve) for loan losses | 313 | 1,675 | |
Ending balance | 2,203 | 2,336 | |
Ending balance collectively evaluated for impairment | 2,203 | 2,336 | |
Loan receivables: | |||
Ending balance | 61,321 | 61,833 | |
Ending balance collectively evaluated for impairment | 61,321 | 61,833 | |
ALC [Member] | Residential Real Estate [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 346 | 457 | 457 |
Charge-offs | -80 | -311 | |
Recoveries | 7 | 29 | |
Provision (reduction in reserve) for loan losses | 45 | 171 | |
Ending balance | 318 | 346 | |
Ending balance collectively evaluated for impairment | 318 | 346 | |
Loan receivables: | |||
Ending balance | 20,209 | 21,309 | |
Ending balance collectively evaluated for impairment | 20,209 | 21,309 | |
FUSB & ALC [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 6,168 | 9,396 | 9,396 |
Charge-offs | -863 | -5,030 | |
Recoveries | 263 | 1,876 | |
Provision (reduction in reserve) for loan losses | -167 | -74 | |
Ending balance | 5,401 | 6,168 | |
Ending balance individually evaluated for impairment | 841 | 762 | |
Ending balance collectively evaluated for impairment | 4,560 | 5,406 | |
Loan receivables: | |||
Ending balance | 253,015 | 274,317 | |
Ending balance individually evaluated for impairment | 9,429 | 10,605 | |
Ending balance collectively evaluated for impairment | 243,586 | 263,712 | |
FUSB & ALC [Member] | Commercial and Industrial Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 141 | 592 | 592 |
Charge-offs | -289 | ||
Recoveries | 10 | 307 | |
Provision (reduction in reserve) for loan losses | 10 | -469 | |
Ending balance | 161 | 141 | |
Ending balance collectively evaluated for impairment | 161 | 141 | |
Loan receivables: | |||
Ending balance | 17,897 | 16,838 | |
Ending balance collectively evaluated for impairment | 17,897 | 16,838 | |
FUSB & ALC [Member] | Commercial Real Estate [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 2,810 | 4,852 | 4,852 |
Charge-offs | -77 | -1,329 | |
Recoveries | 4 | 587 | |
Provision (reduction in reserve) for loan losses | -334 | -1,300 | |
Ending balance | 2,403 | 2,810 | |
Ending balance individually evaluated for impairment | 841 | 762 | |
Ending balance collectively evaluated for impairment | 1,562 | 2,048 | |
Loan receivables: | |||
Ending balance | 116,014 | 135,775 | |
Ending balance individually evaluated for impairment | 9,429 | 10,509 | |
Ending balance collectively evaluated for impairment | 106,585 | 125,266 | |
FUSB & ALC [Member] | Consumer Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 2,450 | 2,847 | 2,847 |
Charge-offs | -666 | -2,925 | |
Recoveries | 224 | 901 | |
Provision (reduction in reserve) for loan losses | 261 | 1,627 | |
Ending balance | 2,269 | 2,450 | |
Ending balance collectively evaluated for impairment | 2,269 | 2,450 | |
Loan receivables: | |||
Ending balance | 68,575 | 69,021 | |
Ending balance collectively evaluated for impairment | 68,575 | 69,021 | |
FUSB & ALC [Member] | Residential Real Estate [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 767 | 1,092 | 1,092 |
Charge-offs | -120 | -487 | |
Recoveries | 25 | 80 | |
Provision (reduction in reserve) for loan losses | -104 | 82 | |
Ending balance | 568 | 767 | |
Ending balance collectively evaluated for impairment | 568 | 767 | |
Loan receivables: | |||
Ending balance | 49,754 | 52,104 | |
Ending balance individually evaluated for impairment | 96 | ||
Ending balance collectively evaluated for impairment | 49,754 | 52,008 | |
FUSB & ALC [Member] | Other Loans [Member] | |||
Allowance for loan losses: | |||
Beginning balance | 13 | 13 | |
Recoveries | 1 | ||
Provision (reduction in reserve) for loan losses | -14 | ||
Loan receivables: | |||
Ending balance | 775 | 579 | |
Ending balance collectively evaluated for impairment | $775 | $579 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Schedule of Carrying Amount of Loans by Credit Quality Indicator (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | $253,015 | $274,317 |
FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 171,485 | 191,175 |
FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 151,405 | 160,421 |
FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 8,312 | 15,385 |
FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 11,755 | 15,369 |
FUSB [Member] | Doubtful 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 13 | |
ALC [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 81,530 | 83,142 |
ALC [Member] | Performing Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 79,712 | 81,237 |
ALC [Member] | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 1,818 | 1,905 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 10,137 | 10,431 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 10,137 | 10,431 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 5,641 | 5,326 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 2,515 | 2,515 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 1,981 | 2,590 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 49,754 | 52,104 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 29,545 | 30,795 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 28,870 | 27,956 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 638 | |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 662 | 2,201 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | Doubtful 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 13 | |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 20,209 | 21,309 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | Performing Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 19,652 | 20,778 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 557 | 531 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 18,837 | 20,403 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 18,837 | 20,403 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 16,478 | 18,033 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 2,359 | 2,370 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 86,982 | 104,883 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 86,982 | 104,883 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 76,457 | 86,812 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 4,584 | 10,905 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 5,941 | 7,166 |
Real Estate [Member] | Other Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 58 | 58 |
Real Estate [Member] | Other Real Estate Loans [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 58 | 58 |
Real Estate [Member] | Other Real Estate Loans [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 58 | 58 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 17,897 | 16,838 |
Commercial and Industrial Loans [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 17,897 | 16,838 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 15,959 | 14,915 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 1,213 | 1,222 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 725 | 701 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 68,575 | 69,021 |
Consumer Loans [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 7,254 | 7,188 |
Consumer Loans [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 7,167 | 6,744 |
Consumer Loans [Member] | FUSB [Member] | Special Mention 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 105 | |
Consumer Loans [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 87 | 339 |
Consumer Loans [Member] | ALC [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 61,321 | 61,833 |
Consumer Loans [Member] | ALC [Member] | Performing Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 60,060 | 60,459 |
Consumer Loans [Member] | ALC [Member] | Nonperforming Financing Receivable | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 1,261 | 1,374 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 775 | 579 |
Other Loans [Member] | FUSB [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 775 | 579 |
Other Loans [Member] | FUSB [Member] | Pass 1-5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | 775 | 577 |
Other Loans [Member] | FUSB [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Ending balance | $2 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Schedule of Aging Analysis of Past Due Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $253,015 | $274,317 |
Accruing loans past due 90 days or more amounted | 1,700 | 1,700 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 10,137 | 10,431 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 49,754 | 52,104 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 18,837 | 20,403 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 86,982 | 104,883 |
Real Estate [Member] | Other Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 58 | 58 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 17,897 | 16,838 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 68,575 | 69,021 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 775 | 579 |
FUSB [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 350 | 525 |
60-89 Days Past Due | 18 | 190 |
Greater than 90 Days | 1,586 | 2,717 |
Total Past Due | 1,954 | 3,432 |
Current | 169,531 | 187,743 |
Total loans | 171,485 | 191,175 |
Accruing loans past due 90 days or more amounted | 30 | 11 |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 41 | |
Greater than 90 Days | 86 | 86 |
Total Past Due | 86 | 127 |
Current | 10,051 | 10,304 |
Total loans | 10,137 | 10,431 |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 244 | 200 |
60-89 Days Past Due | 18 | 20 |
Greater than 90 Days | 429 | 852 |
Total Past Due | 691 | 1,072 |
Current | 28,854 | 29,723 |
Total loans | 29,545 | 30,795 |
Accruing loans past due 90 days or more amounted | 30 | |
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 18,837 | 20,403 |
Total loans | 18,837 | 20,403 |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 62 | 268 |
60-89 Days Past Due | 159 | |
Greater than 90 Days | 1,043 | 1,743 |
Total Past Due | 1,105 | 2,170 |
Current | 85,877 | 102,713 |
Total loans | 86,982 | 104,883 |
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 58 | 58 |
Total loans | 58 | 58 |
FUSB [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 28 | |
60-89 Days Past Due | 8 | |
Total Past Due | 28 | 8 |
Current | 17,869 | 16,830 |
Total loans | 17,897 | 16,838 |
FUSB [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 16 | 12 |
60-89 Days Past Due | 3 | |
Greater than 90 Days | 17 | 24 |
Total Past Due | 33 | 39 |
Current | 7,221 | 7,149 |
Total loans | 7,254 | 7,188 |
FUSB [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 4 | |
Greater than 90 Days | 11 | 12 |
Total Past Due | 11 | 16 |
Current | 764 | 563 |
Total loans | 775 | 579 |
Accruing loans past due 90 days or more amounted | 11 | |
ALC [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 854 | 853 |
60-89 Days Past Due | 705 | 705 |
Greater than 90 Days | 1,762 | 1,847 |
Total Past Due | 3,321 | 3,405 |
Current | 78,209 | 79,737 |
Total loans | 81,530 | 83,142 |
Accruing loans past due 90 days or more amounted | 1,663 | 1,736 |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 182 | |
60-89 Days Past Due | 147 | |
Greater than 90 Days | 524 | |
Total Past Due | 853 | |
Current | 19,356 | |
Total loans | 20,209 | 21,309 |
Accruing loans past due 90 days or more amounted | 426 | |
ALC [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 672 | |
60-89 Days Past Due | 558 | |
Greater than 90 Days | 1,238 | |
Total Past Due | 2,468 | |
Current | 58,853 | |
Total loans | 61,321 | 61,833 |
Accruing loans past due 90 days or more amounted | 1,237 | |
ALC [Member] | Residential Real Estate Portfolio | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 182 | |
60-89 Days Past Due | 147 | |
Greater than 90 Days | 501 | |
Total Past Due | 830 | |
Current | 20,480 | |
Total loans | 21,310 | |
Accruing loans past due 90 days or more amounted | 401 | |
ALC [Member] | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 671 | |
60-89 Days Past Due | 558 | |
Greater than 90 Days | 1,346 | |
Total Past Due | 2,575 | |
Current | 59,257 | |
Total loans | 61,832 | |
Accruing loans past due 90 days or more amounted | $1,335 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Schedule of Analysis of Non-Accruing Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $2,522 | $4,826 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 347 | 956 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 800 | 1,277 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 1,135 | 2,314 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 130 | 139 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $110 | $140 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Schedule of Carrying Amount of Impaired Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, Carrying Amount | $7,540 | $8,387 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 7,540 | 8,778 |
Impaired loans with no related allowance recorded, Related Allowances | 841 | 762 |
Impaired loans with an allowance recorded, Carrying Amount | 1,889 | 2,218 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 1,889 | 2,218 |
Total impaired loans, Carrying Amount | 9,429 | 10,605 |
Total impaired loans, Unpaid Principal Balance | 9,429 | 10,996 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, Carrying Amount | 1,445 | 1,445 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 1,445 | 1,445 |
Impaired loans with no related allowance recorded, Related Allowances | 71 | |
Impaired loans with an allowance recorded, Carrying Amount | 603 | |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 603 | |
Total impaired loans, Carrying Amount | 1,445 | 2,048 |
Total impaired loans, Unpaid Principal Balance | 1,445 | 2,048 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, Carrying Amount | 96 | 96 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 96 | 96 |
Total impaired loans, Carrying Amount | 96 | 96 |
Total impaired loans, Unpaid Principal Balance | 96 | 96 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, Carrying Amount | 752 | 755 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 752 | 1,146 |
Impaired loans with no related allowance recorded, Related Allowances | 841 | 691 |
Impaired loans with an allowance recorded, Carrying Amount | 1,889 | 1,615 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 1,889 | 1,615 |
Total impaired loans, Carrying Amount | 2,641 | 2,370 |
Total impaired loans, Unpaid Principal Balance | 2,641 | 2,761 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Impaired loans with no related allowance recorded, Carrying Amount | 5,247 | 6,091 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 5,247 | 6,091 |
Total impaired loans, Carrying Amount | 5,247 | 6,091 |
Total impaired loans, Unpaid Principal Balance | $5,247 | $6,091 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Schedule of Average Net Investment Impaired Loans and Interest Income Recognized and Received on Impaired Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | $9,989 | $14,743 |
Interest Income Recognized | 163 | 552 |
Interest Income Received | 148 | 540 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | 1,637 | 2,769 |
Interest Income Recognized | 12 | 46 |
Interest Income Received | 15 | 46 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | 96 | 143 |
Interest Income Recognized | 3 | |
Interest Income Received | 3 | |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | 2,458 | 3,565 |
Interest Income Recognized | 88 | 178 |
Interest Income Received | 83 | 170 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | 5,798 | 8,186 |
Interest Income Recognized | 63 | 324 |
Interest Income Received | 50 | 320 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | 80 | |
Interest Income Recognized | 1 | |
Interest Income Received | $1 |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Schedule of Number of Loans Modified Troubled Debt Restructuring by Loan Portfolio (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
SecurityLoan | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 15 | 18 |
Pre-Modification Outstanding Principal Balance | $3,947 | $5,089 |
Post-Modification Principal Balance | 3,200 | 3,929 |
Subsequent default number of loans | 2 | 2 |
Recorded Investment | 886 | 886 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 3 | 4 |
Pre-Modification Outstanding Principal Balance | 2,220 | 3,282 |
Post-Modification Principal Balance | 1,756 | 2,365 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 4 | 4 |
Pre-Modification Outstanding Principal Balance | 200 | 200 |
Post-Modification Principal Balance | 152 | 156 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 5 | 6 |
Pre-Modification Outstanding Principal Balance | 1,368 | 1,448 |
Post-Modification Principal Balance | 1,189 | 1,299 |
Subsequent default number of loans | 2 | 2 |
Recorded Investment | 886 | 886 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 3 | 4 |
Pre-Modification Outstanding Principal Balance | 159 | 159 |
Post-Modification Principal Balance | $103 | $109 |
Other_Real_Estate_Owned_Summar
Other Real Estate Owned - Summary of Foreclosed Property Activity (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $7,735 | $9,310 |
Transfers from loans | 1,058 | 2,320 |
Sales proceeds | -106 | -1,280 |
Gross gains | 147 | |
Gross losses | -49 | -59 |
Net gains (losses) | -49 | 88 |
Impairment | -30 | -54 |
Ending Balance | 8,608 | 10,384 |
FUSB [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 6,997 | 8,463 |
Transfers from loans | 995 | 2,154 |
Sales proceeds | -40 | -1,239 |
Gross gains | 147 | |
Gross losses | -3 | -33 |
Net gains (losses) | -3 | 114 |
Impairment | -10 | |
Ending Balance | 7,949 | 9,482 |
ALC [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 738 | 847 |
Transfers from loans | 63 | 166 |
Sales proceeds | -66 | -41 |
Gross losses | -46 | -26 |
Net gains (losses) | -46 | -26 |
Impairment | -30 | -44 |
Ending Balance | $659 | $902 |
Other_Real_Estate_Owned_Additi
Other Real Estate Owned - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Real Estate Properties [Line Items] | ||||
Other real estate owned | $8,608,000 | $7,735,000 | $10,384,000 | $9,310,000 |
Consumer mortgage loans collateralized by residential real estate | 200,000 | |||
Residential Real Estate [Member] | ||||
Real Estate Properties [Line Items] | ||||
Other real estate owned | $1,100,000 |
Investment_in_Limited_Partners1
Investment in Limited Partnerships - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Equity Method Investments [Line Items] | |||
Consolidated VIE limited partnership interest | 99.90% | ||
Total assets recorded due to consolidation | $0 | ||
Residual interest upon dissolution of the partnership | 1,000,000 | ||
Other Assets | |||
Schedule of Equity Method Investments [Line Items] | |||
Assets representing the carrying amount of remaining partnership | 800,000 | ||
Maximum [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total assets recorded due to consolidation | $100,000 | $100,000 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Short-term Debt [Line Items] | ||
Federal funds purchased | 0 | $0 |
Securities sold under repurchase agreements | 680,000 | 436,000 |
Available fund lines from correspondent banks | 18,800,000 | $18,800,000 |
Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Maturity period of federal funds | 1 day | |
Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Maturity period of federal funds | 4 days |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
FHLB advances outstanding | $5,000,000 | $5,000,000 |
Assets pledged associated with FHLB advances | 7,300,000 | 5,700,000 |
Available credit from the FHLB | $164,500,000 | $166,800,000 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Provision for income taxes | $351,000 | $276,000 | |
Effective tax rate | 29.60% | 26.30% | |
Net deferred tax assets | $7,700,000 | $7,900,000 |
Stock_Option_Grants_Additional
Stock Option Grants - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Stock options aggregate intrinsic value | $0.10 | $0.10 |
Employee Stock Option | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Fair value risk-free interest rate | 1.50% | |
Fair value expected term | 7 years 6 months | |
Fair value dividend rate | 1.50% | |
Stock price volatility period | 3 years | |
Employee Stock Option | Omnibus Incentive Plan [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Stock option awards granted vesting period | 1 year | |
Stock option awards granted fully vested or to be vested contractual term | 10 years | |
Employee Stock Option | Omnibus Incentive Plan [Member] | Maximum [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Stock-based compensation expense related to stock option | $0.10 | $0.10 |
Stock_Option_Grants_Summary_of
Stock Option Grants - Summary of Stock Option Activity (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Number of Shares | ||
Stock Options Outstanding, Number of Shares, Beginning balance | 83,400 | |
Stock Options Granted, Number of Shares | 96,150 | 10,750 |
Stock Options Forfeited, Number of Shares | 2,500 | |
Stock Options Outstanding, Number of Shares, Ending balance | 177,050 | 10,750 |
Stock Options Exercisable, Number of Shares | 81,900 | |
Average Exercise Price | ||
Stock Options Outstanding, Average Exercise Price, Beginning balance | $8.09 | |
Stock Options Granted, Average Exercise Price | $8.23 | $8 |
Stock Options Forfeited, Average Exercise Price | $8.09 | |
Stock Options Outstanding, Average Exercise Price, Ending balance | $8.16 | $8 |
Stock Options Exercisable, Average Exercise Price | $8.09 |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Segment | |
Segment Reporting [Abstract] | |
Number of reportable operating segments | 2 |
Segment_Reporting_Summary_of_R
Segment Reporting - Summary of Results for Reportable Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Net interest income | $6,707 | $7,201 | |
Provision (reduction in reserve) for loan losses | -166 | 414 | |
Total non-interest income | 1,291 | 1,147 | |
Total non-interest expense | 6,977 | 6,884 | |
Income before income taxes | 1,187 | 1,050 | |
Provision for income taxes | 351 | 276 | |
Net income | 836 | 774 | |
Other significant items: | |||
Total assets | 564,882 | 575,716 | 572,609 |
Total investment securities | 249,864 | 189,906 | |
Total loans, net | 239,218 | 276,717 | 259,516 |
Investment in subsidiaries | 5 | 5 | |
Fixed asset addition | 1,403 | 721 | |
Depreciation and amortization expense | 213 | 180 | |
Total interest income from external customers | 7,321 | 7,846 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Total non-interest income | -1,191 | -1,113 | |
Total non-interest expense | -153 | -210 | |
Income before income taxes | -1,038 | -903 | |
Net income | -1,038 | -903 | |
Other significant items: | |||
Total assets | -159,735 | -148,228 | |
Total loans, net | -63,346 | -56,721 | |
Investment in subsidiaries | -76,865 | -73,195 | |
Total interest income from affiliates | -884 | -768 | |
FUSB [Member] | |||
Segment Reporting Information [Line Items] | |||
Provision (reduction in reserve) for loan losses | -525 | -1,920 | |
Other significant items: | |||
Total loans, net | 168,431 | 187,500 | |
FUSB [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 3,844 | 4,087 | |
Provision (reduction in reserve) for loan losses | -525 | -175 | |
Total non-interest income | 1,149 | 931 | |
Total non-interest expense | 4,281 | 4,330 | |
Income before income taxes | 1,237 | 863 | |
Provision for income taxes | 370 | 176 | |
Net income | 867 | 687 | |
Other significant items: | |||
Total assets | 567,318 | 577,804 | |
Total investment securities | 249,784 | 189,826 | |
Total loans, net | 231,778 | 268,000 | |
Investment in subsidiaries | 5 | 784 | |
Fixed asset addition | 1,241 | 708 | |
Depreciation and amortization expense | 153 | 128 | |
Total interest income from external customers | 3,578 | 3,969 | |
Total interest income from affiliates | 882 | 765 | |
ALC [Member] | |||
Segment Reporting Information [Line Items] | |||
Provision (reduction in reserve) for loan losses | 358 | 1,846 | |
Other significant items: | |||
Total loans, net | 70,787 | 72,016 | |
ALC [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 2,861 | 3,112 | |
Provision (reduction in reserve) for loan losses | 359 | 589 | |
Total non-interest income | 220 | 286 | |
Total non-interest expense | 2,493 | 2,556 | |
Income before income taxes | 229 | 253 | |
Provision for income taxes | 86 | 99 | |
Net income | 143 | 154 | |
Other significant items: | |||
Total assets | 75,124 | 68,625 | |
Total loans, net | 70,786 | 65,438 | |
Fixed asset addition | 162 | 13 | |
Depreciation and amortization expense | 60 | 52 | |
Total interest income from external customers | 3,743 | 3,877 | |
All Other [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 2 | 2 | |
Total non-interest income | 1,113 | 1,043 | |
Total non-interest expense | 356 | 208 | |
Income before income taxes | 759 | 837 | |
Provision for income taxes | -105 | 1 | |
Net income | 864 | 836 | |
Other significant items: | |||
Total assets | 82,175 | 77,515 | |
Total investment securities | 80 | 80 | |
Investment in subsidiaries | 76,865 | 72,416 | |
Total interest income from affiliates | $2 | $3 |
Guarantees_Commitments_and_Con2
Guarantees, Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | |||
Credit losses associated with derivative contracts | $0 | $0 | |
Outstanding commitments to purchase securities | 0 | 0 | |
Outstanding commitments to sell securities | $0 | $0 |
Guarantees_Commitments_and_Con3
Guarantees, Commitments and Contingencies - Summary of Commitments and Contingent Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Summary Of Commitments And Contingent Liabilities [Line Items] | ||
Commitments and contingent liabilities | ||
Standby Letters of Credit [Member] | ||
Summary Of Commitments And Contingent Liabilities [Line Items] | ||
Commitments and contingent liabilities | 833 | 833 |
Commitments to Extend Credit [Member] | ||
Summary Of Commitments And Contingent Liabilities [Line Items] | ||
Commitments and contingent liabilities | $30,460 | $31,644 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) (Recurring Fair Value Measurements [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Recurring Fair Value Measurements [Member] | ||
Fair Value Measurement [Line Items] | ||
Liabilities measured at fair value on recurring basis | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | $28 | $68 |
Recurring Fair Value Measurements [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 80 | 4,060 |
Recurring Fair Value Measurements [Member] | Other Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 28 | 68 |
Recurring Fair Value Measurements [Member] | Residential [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 137,761 | 141,684 |
Recurring Fair Value Measurements [Member] | Commercial [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 48,551 | 35,944 |
Recurring Fair Value Measurements [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 16,240 | 16,914 |
Recurring Fair Value Measurements [Member] | Obligations of U.S. Government Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 6,362 | 6,364 |
Recurring Fair Value Measurements [Member] | Corporate Note Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 796 | |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 80 | 4,060 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Other Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 28 | 68 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Residential [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 137,761 | 141,684 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Commercial [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 48,551 | 35,944 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 16,240 | 16,914 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Obligations of U.S. Government Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 6,362 | 6,364 |
Recurring Fair Value Measurements [Member] | Level 2 [Member] | Corporate Note Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | $796 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Balances of Impaired Loans and OREO Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | $28 | $68 |
Non-Recurring Fair Value Measurements [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 1,048 | 1,456 |
Non-Recurring Fair Value Measurements [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 1,048 | 1,456 |
Non-Recurring Fair Value Measurements [Member] | OREO [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | 8,608 | 7,735 |
Non-Recurring Fair Value Measurements [Member] | OREO [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value | $8,608 | $7,735 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Detail) (Non-Recurring Fair Value Measurements [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $1,048 | $1,456 |
Valuation Technique | Multiple data points, including discount to appraised value of collateral based on recent market activity | |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $8,608 | $7,735 |
Valuation Technique | Discount to appraised value of property based on recent market activity for sales of similar properties | |
Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 9.00% | |
Minimum [Member] | OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 9.00% | |
Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 10.00% | |
Maximum [Member] | OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 10.00% | |
Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 9.50% | |
Weighted Average [Member] | OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs (Weighted-Average) | 9.50% |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Schedule of Estimated Fair Value and Related Carrying or Notional Amounts of Company's Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets: | ||
Investment securities available-for-sale | $209,790 | $204,966 |
Investment securities held-to-maturity | 40,033 | 29,154 |
Carrying Amount [Member] | ||
Assets: | ||
Cash and cash equivalents | 30,317 | 34,166 |
Investment securities available-for-sale | 209,790 | 204,966 |
Investment securities held-to-maturity | 40,074 | 29,120 |
Federal Home Loan Bank stock | 740 | 738 |
Loans, net of allowance for loan losses | 239,218 | 259,516 |
Other assets – derivatives | 28 | 68 |
Liabilities: | ||
Deposits | 475,288 | 483,659 |
Short-term borrowings | 680 | 436 |
Long-term debt | 5,000 | 5,000 |
Estimated Fair Value [Member] | ||
Assets: | ||
Cash and cash equivalents | 30,317 | 34,166 |
Investment securities available-for-sale | 209,790 | 204,966 |
Investment securities held-to-maturity | 40,033 | 29,154 |
Federal Home Loan Bank stock | 740 | 738 |
Loans, net of allowance for loan losses | 239,740 | 259,337 |
Other assets – derivatives | 28 | 68 |
Liabilities: | ||
Deposits | 476,009 | 484,108 |
Short-term borrowings | 680 | 436 |
Long-term debt | 5,005 | 5,007 |
Level 1 [Member] | ||
Assets: | ||
Cash and cash equivalents | 30,317 | 34,166 |
Level 2 [Member] | ||
Assets: | ||
Investment securities available-for-sale | 209,790 | 204,966 |
Investment securities held-to-maturity | 40,033 | 29,154 |
Other assets – derivatives | 28 | 68 |
Liabilities: | ||
Deposits | 476,009 | 484,108 |
Short-term borrowings | 680 | 436 |
Long-term debt | 5,005 | 5,007 |
Level 3 [Member] | ||
Assets: | ||
Federal Home Loan Bank stock | 740 | 738 |
Loans, net of allowance for loan losses | $239,740 | $259,337 |