Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 14, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'FXNC | ' |
Entity Registrant Name | 'FIRST NATIONAL CORP /VA/ | ' |
Entity Central Index Key | '0000719402 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 4,902,582 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $6,587 | $5,767 |
Interest-bearing deposits in banks | 12,735 | 25,741 |
Securities available for sale, at fair value | 108,884 | 103,301 |
Restricted securities, at cost | 1,636 | 1,804 |
Loans, net of allowance for loan losses, 2014, $10,006; 2013, $10,644 | 357,484 | 346,449 |
Other real estate owned, net of valuation allowance, 2014, $1,588; 2013, $1,665 | 2,221 | 3,030 |
Premises and equipment, net | 16,305 | 16,642 |
Accrued interest receivable | 1,258 | 1,302 |
Bank owned life insurance | 11,141 | 10,978 |
Other assets | 7,072 | 7,876 |
Total assets | 525,323 | 522,890 |
Deposits: | ' | ' |
Noninterest-bearing demand deposits | 99,396 | 92,901 |
Savings and interest-bearing demand deposits | 235,929 | 234,054 |
Time deposits | 115,873 | 123,756 |
Total deposits | 451,198 | 450,711 |
Other borrowings | 6,039 | 6,052 |
Trust preferred capital notes | 9,279 | 9,279 |
Accrued interest and other liabilities | 2,151 | 3,288 |
Total liabilities | 468,667 | 469,330 |
Shareholders' Equity | ' | ' |
Preferred stock, $1,000 per share liquidation preference; authorized 1,000,000 shares; 14,595 shares issued and outstanding, net of discount | 14,595 | 14,564 |
Common stock, par value $1.25 per share; authorized 8,000,000 shares; issued and outstanding, 2014, 4,902,582 shares; 2013, 4,901,464 shares | 6,128 | 6,127 |
Surplus | 6,821 | 6,813 |
Retained earnings | 29,516 | 27,360 |
Accumulated other comprehensive loss, net | -404 | -1,304 |
Total shareholders' equity | 56,656 | 53,560 |
Total liabilities and shareholders' equity | $525,323 | $522,890 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for loan losses | $10,006 | $10,644 |
Other real estate owned, valuation allowance | $1,588 | $1,665 |
Preferred stock, liquidation preference | $1,000 | $1,000 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 14,595 | 14,595 |
Preferred stock, shares outstanding | 14,595 | 14,595 |
Common stock, par value | $1.25 | $1.25 |
Common stock, shares authorized | 8,000,000 | 8,000,000 |
Common stock, shares issued | 4,902,582 | 4,901,464 |
Common stock, shares outstanding | 4,902,582 | 4,901,464 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest and Dividend Income | ' | ' | ' | ' |
Interest and fees on loans | $4,403 | $4,816 | $8,618 | $9,749 |
Interest on deposits in banks | 14 | 17 | 30 | 27 |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Taxable interest | 562 | 443 | 1,124 | 815 |
Tax-exempt interest | 95 | 76 | 190 | 149 |
Dividends | 21 | 19 | 42 | 38 |
Total interest and dividend income | 5,095 | 5,371 | 10,004 | 10,778 |
Interest Expense | ' | ' | ' | ' |
Interest on deposits | 372 | 632 | 772 | 1,338 |
Interest on trust preferred capital notes | 54 | 55 | 108 | 111 |
Interest on other borrowings | 30 | 30 | 59 | 59 |
Total interest expense | 456 | 717 | 939 | 1,508 |
Net interest income | 4,639 | 4,654 | 9,065 | 9,270 |
Provision for (recovery of) loan losses | -400 | 2,500 | -600 | 2,250 |
Net interest income after provision for (recovery of) loan losses | 5,039 | 2,154 | 9,665 | 7,020 |
Noninterest Income | ' | ' | ' | ' |
Service charges on deposit accounts | 643 | 464 | 1,273 | 923 |
ATM and check card fees | 365 | 365 | 700 | 698 |
Wealth management fees | 472 | 375 | 956 | 827 |
Fees for other customer services | 126 | 128 | 213 | 216 |
Net gains on sale of loans | ' | 65 | ' | 124 |
Net gains on sale of securities available for sale | 22 | ' | 22 | ' |
Other operating income | 97 | 640 | 177 | 747 |
Total noninterest income | 1,725 | 2,037 | 3,341 | 3,535 |
Noninterest Expense | ' | ' | ' | ' |
Salaries and employee benefits | 2,554 | 2,443 | 5,063 | 5,077 |
Occupancy | 278 | 296 | 593 | 674 |
Equipment | 295 | 288 | 599 | 587 |
Marketing | 126 | 113 | 235 | 223 |
Stationery and supplies | 94 | 81 | 174 | 156 |
Legal and professional fees | 247 | 219 | 449 | 398 |
ATM and check card fees | 163 | 168 | 326 | 326 |
FDIC assessment | 122 | 180 | 294 | 521 |
Bank franchise tax | 105 | 70 | 199 | 138 |
Other real estate owned, net | -70 | 376 | -39 | 483 |
Telecommunications | 73 | 78 | 144 | 140 |
Data processing | 134 | 95 | 249 | 178 |
Loss on disposal of premises and equipment | ' | 3 | 2 | 3 |
Loss on land lease termination | ' | ' | ' | 206 |
Other operating expense | 427 | 350 | 873 | 760 |
Total noninterest expense | 4,548 | 4,760 | 9,161 | 9,870 |
Income (loss) before income taxes | 2,216 | -569 | 3,845 | 685 |
Income tax expense (benefit) | 674 | -830 | 1,157 | -559 |
Net income | 1,542 | 261 | 2,688 | 1,244 |
Effective dividend and accretion on preferred stock | 261 | 230 | 481 | 455 |
Net income available to common shareholders | $1,281 | $31 | $2,207 | $789 |
Earnings per common share, basic and diluted | $0.26 | $0.01 | $0.45 | $0.16 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $1,542 | $261 | $2,688 | $1,244 |
Other comprehensive income (loss), net of tax, | ' | ' | ' | ' |
Unrealized holding gains (losses) on available for sale securities, net of tax | 465 | -2,561 | 915 | -2,693 |
Reclassification adjustment for gains included in net income, net of tax | -15 | ' | -15 | ' |
Total other comprehensive income (loss) | 450 | -2,561 | 900 | -2,693 |
Total comprehensive income (loss) | $1,992 | ($2,300) | $3,588 | ($1,449) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Unrealized holding gains (losses) on available for sale securities, tax | $239 | $0 | $471 | $0 |
Reclassification adjustment for gains included in net income, tax | ($7) | $0 | ($7) | $0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Cash Flows from Operating Activities | ' | ' | ' |
Net income | $2,688 | $1,244 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 494 | 492 | ' |
Origination of loans held for sale | ' | -2,567 | ' |
Proceeds from sale of loans held for sale | ' | 3,194 | ' |
Net gains on sales of loans held for sale | ' | -124 | ' |
Provision for (recovery of) loan losses | -600 | 2,250 | -425 |
Provision for other real estate owned | 86 | 448 | ' |
Net gains on sale of securities available for sale | -22 | ' | ' |
Net gains on sale of other real estate owned | -160 | -64 | ' |
Losses on disposal of premises and equipment | 2 | 3 | ' |
Income from bank owned life insurance | -163 | -130 | ' |
Accretion of discounts and amortization of premiums on securities, net | 322 | 504 | ' |
Changes in assets and liabilities: | ' | ' | ' |
Decrease in interest receivable | 44 | 34 | ' |
(Increase) decrease in other assets | 342 | -766 | ' |
Increase (decrease) in other liabilities | -1,137 | 841 | ' |
Net cash provided by operating activities | 1,896 | 5,359 | ' |
Cash Flows from Investing Activities | ' | ' | ' |
Proceeds from sales of securities available for sale | 3,453 | 1,850 | ' |
Proceeds from maturities, calls, and principal payments of securities available for sale | 6,247 | 13,461 | ' |
Purchase of securities available for sale | -14,219 | -34,216 | ' |
Proceeds from redemption of restricted securities | 168 | 169 | ' |
Purchase of premises and equipment | -160 | -122 | ' |
Proceeds from sale of other real estate owned | 1,021 | 1,927 | ' |
Net (increase) decrease in loans | -10,574 | 3,043 | ' |
Net cash used in investing activities | -14,064 | -13,888 | ' |
Cash Flows from Financing Activities | ' | ' | ' |
Net increase in demand deposits and savings accounts | 8,370 | 17,990 | ' |
Net decrease in time deposits | -7,883 | -8,949 | ' |
Principal payments on other borrowings | -13 | -12 | ' |
Cash dividends paid on preferred stock | -379 | -379 | ' |
Cash dividends paid on common stock, net of reinvestment | -113 | ' | ' |
Net cash provided by (used in) financing activities | -18 | 8,650 | ' |
Increase (decrease) in cash and cash equivalents | -12,186 | 121 | ' |
Cash and Cash Equivalents | ' | ' | ' |
Beginning | 31,508 | 31,028 | 31,028 |
Ending | 19,322 | 31,149 | 31,508 |
Supplemental Disclosures of Cash Flow Information | ' | ' | ' |
Interest | 965 | 1,540 | ' |
Income Taxes | 321 | 310 | ' |
Supplemental Disclosures of Noncash Investing and Financing Activities | ' | ' | ' |
Unrealized gains (losses) on securities available for sale | 1,364 | -2,693 | ' |
Transfer from loans to other real estate owned | 139 | 191 | ' |
Transfer from premises and equipment to other real estate owned | ' | 224 | ' |
Transfer from other assets to other real estate owned | ' | 452 | ' |
Issuance of common stock, dividend reinvestment plan | $9 | ' | ' |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands | ||||||
Beginning Balance at Dec. 31, 2012 | $44,889 | $14,409 | $6,127 | $6,813 | $18,399 | ($859) |
Net income | 1,244 | ' | ' | ' | 1,244 | ' |
Other comprehensive income | -2,693 | ' | ' | ' | ' | -2,693 |
Cash dividends on preferred stock | -379 | ' | ' | ' | -379 | ' |
Accretion of preferred stock discount | ' | 76 | ' | ' | -76 | ' |
Ending Balance at Jun. 30, 2013 | 43,061 | 14,485 | 6,127 | 6,813 | 19,188 | -3,552 |
Beginning Balance at Dec. 31, 2013 | 53,560 | 14,564 | 6,127 | 6,813 | 27,360 | -1,304 |
Net income | 2,688 | ' | ' | ' | 2,688 | ' |
Other comprehensive income | 900 | ' | ' | ' | ' | 900 |
Cash dividends on common stock ($0.025 per share) | -122 | ' | ' | ' | -122 | ' |
Issuance of 1,118 shares common stock, dividend reinvestment plan | 9 | ' | 1 | 8 | ' | ' |
Cash dividends on preferred stock | -379 | ' | ' | ' | -379 | ' |
Accretion of preferred stock discount | ' | 31 | ' | ' | -31 | ' |
Ending Balance at Jun. 30, 2014 | $56,656 | $14,595 | $6,128 | $6,821 | $29,516 | ($404) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 |
Cash dividends on common stock, per share | $0.03 |
Issuance of common stock dividend reinvestment plan, shares | 1,118 |
Common Stock [Member] | ' |
Cash dividends on common stock, per share | $0.03 |
Issuance of common stock dividend reinvestment plan, shares | 1,118 |
General
General | 6 Months Ended | |
Jun. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
General | ' | |
Note 1. | General | |
The accompanying unaudited consolidated financial statements of First National Corporation (the Company) and its subsidiaries, including First Bank (the Bank), have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP. All significant intercompany balances and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments and reclassifications of a normal and recurring nature considered necessary to present fairly the financial positions at June 30, 2014 and December 31, 2013, the results of operations and comprehensive income (loss) for the three and six months ended June 30, 2014 and 2013 and the cash flows and changes in shareholders’ equity for the six months ended June 30, 2014 and 2013. The statements should be read in conjunction with the consolidated financial statements and related notes included in the Annual Report on Form 10-K for the year ended December 31, 2013. Operating results for the three and six month periods ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. | ||
Recent Accounting Pronouncements | ||
In January 2014, the FASB issued ASU 2014-01, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force).” The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-01 to have an impact on its consolidated financial statements. | ||
In January 2014, the FASB issued 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).” The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The Company does not expect the adoption of ASU 2014-04 to have an impact on its consolidated financial statements. | ||
In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results and include disposals of a major geographic area, a major line of business, or a major equity method investment. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Additionally, the new guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-08 to have a material impact on its consolidated financial statements. | ||
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers: Topic 606”. This ASU applies to any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The guidance supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition”, most industry-specific guidance, and some cost guidance included in Subtopic 605-35, “Revenue Recognition—Construction-Type and Production-Type Contracts”. The core principle of the guidance is 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 or services. To be in alignment with the core principle, an entity must apply a five step process including: identification of the contract(s) with a customer, identification of performance obligations in the contract(s), determination of the transaction price, allocation of the transaction price to the performance obligations, and recognition of revenue when (or as) the entity satisfies a performance obligation. Additionally, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer have also been amended to be consistent with the guidance on recognition and measurement. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The Company is currently assessing the impact that ASU 2014-09 will have on its consolidated financial statements. | ||
In June 2014, the FASB issued ASU No. 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures”. This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. The new guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. The amendments in the ASU also require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. Additional disclosures will be required for the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The amendments in this ASU are effective for the first interim or annual period beginning after December 15, 2014; however, the disclosure for transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Early adoption is not permitted. The Company does not expect the adoption of ASU 2014-11 to have an impact on its consolidated financial statements. | ||
In June 2014, the FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The new guidance applies to reporting entities that grant employees share-based payments in which the terms of the award allow a performance target to be achieved after the requisite service period. The amendments in the ASU require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Existing guidance in “Compensation – Stock Compensation (Topic 718)”, should be applied to account for these types of awards. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted and reporting entities may choose to apply the amendments in the ASU either on a prospective or retrospective basis. The Company is currently assessing the impact that ASU 2014-12 will have on its consolidated financial statements. |
Securities
Securities | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
Note 2. | Securities | ||||||||||||||||||||||||
The Company invests in U.S. agency and mortgage-backed securities, obligations of state and political subdivisions and corporate equity securities. Amortized costs and fair values of securities available for sale at June 30, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 87,515 | $ | 961 | $ | (1,410 | ) | $ | 87,066 | ||||||||||||||||
Obligations of states and political subdivisions | 21,716 | 374 | (278 | ) | 21,812 | ||||||||||||||||||||
Corporate equity securities | 1 | 5 | — | 6 | |||||||||||||||||||||
$ | 109,232 | $ | 1,340 | $ | (1,688 | ) | $ | 108,884 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 86,365 | $ | 670 | $ | (2,138 | ) | $ | 84,897 | ||||||||||||||||
Obligations of states and political subdivisions | 18,647 | 350 | (598 | ) | 18,399 | ||||||||||||||||||||
Corporate equity securities | 1 | 4 | — | 5 | |||||||||||||||||||||
$ | 105,013 | $ | 1,024 | $ | (2,736 | ) | $ | 103,301 | |||||||||||||||||
At June 30, 2014 and December 31, 2013, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands): | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
(Loss) | (Loss) | (Loss) | |||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 16,702 | $ | (255 | ) | $ | 36,372 | $ | (1,155 | ) | $ | 53,074 | $ | (1,410 | ) | ||||||||||
Obligations of states and political subdivisions | 2,795 | (21 | ) | 6,999 | (257 | ) | 9,794 | (278 | ) | ||||||||||||||||
$ | 19,497 | $ | (276 | ) | $ | 43,371 | $ | (1,412 | ) | $ | 62,868 | $ | (1,688 | ) | |||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
(Loss) | (Loss) | (Loss) | |||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 49,810 | $ | (1,755 | ) | $ | 10,180 | $ | (383 | ) | $ | 59,990 | $ | (2,138 | ) | ||||||||||
Obligations of states and political subdivisions | 7,165 | (422 | ) | 2,663 | (176 | ) | 9,828 | (598 | ) | ||||||||||||||||
$ | 56,975 | $ | (2,177 | ) | $ | 12,843 | $ | (559 | ) | $ | 69,818 | $ | (2,736 | ) | |||||||||||
The tables above provide information about securities that have been in an unrealized loss position for less than twelve consecutive months and securities that have been in an unrealized loss position for twelve consecutive months or more. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Impairment is considered to be other-than-temporary if the Company (1) intends to sell the security, (2) more likely than not will be required to sell the security before recovering its cost, or (3) does not expect to recover the security’s entire amortized cost basis. Presently, the Company does not intend to sell any of these securities, does not expect to be required to sell these securities, and expects to recover the entire amortized cost of all the securities. | |||||||||||||||||||||||||
At June 30, 2014, there were thirty-three U.S. agency and mortgage-backed securities and eighteen obligations of state and political subdivisions in an unrealized loss position. One hundred percent of the Company’s investment portfolio is considered investment grade. The weighted-average re-pricing term of the portfolio was 4.2 years at June 30, 2014. At December 31, 2013, there were forty U.S. agency and mortgage-backed securities and twenty-one obligations of states and political subdivisions in an unrealized loss position. One hundred percent of the Company’s investment portfolio was considered investment grade at December 31, 2013. The weighted-average re-pricing term of the portfolio was 4.5 years at December 31, 2013. The unrealized losses at June 30, 2014 in the U.S. agency and mortgage-backed securities portfolio and the obligation of states and political subdivisions portfolio were related to changes in market interest rates and not credit concerns of the issuers. | |||||||||||||||||||||||||
Federal Home Loan Bank, Federal Reserve Bank and Community Bankers’ Bank stock are generally viewed as long-term investments and as restricted securities, which are carried at cost, because there is a minimal market for the stock. Therefore, when evaluating restricted securities for impairment, their value is based on the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The Company does not consider these investments to be other-than-temporarily impaired at June 30, 2014, and no impairment has been recognized. Restricted securities are not part of the available for sale securities portfolio. | |||||||||||||||||||||||||
The composition of restricted securities at June 30, 2014 and December 31, 2013 was as follows (in thousands): | |||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Federal Home Loan Bank stock | $ | 740 | $ | 908 | |||||||||||||||||||||
Federal Reserve Bank stock | 846 | 846 | |||||||||||||||||||||||
Community Bankers’ Bank stock | 50 | 50 | |||||||||||||||||||||||
$ | 1,636 | $ | 1,804 | ||||||||||||||||||||||
Loans
Loans | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
Note 3. | Loans | ||||||||||||||||||||||||||||||||
Loans at June 30, 2014 and December 31, 2013 are summarized as follows (in thousands): | |||||||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 32,795 | $ | 34,060 | |||||||||||||||||||||||||||||
Secured by 1-4 family residential | 151,043 | 141,961 | |||||||||||||||||||||||||||||||
Other real estate loans | 146,483 | 145,968 | |||||||||||||||||||||||||||||||
Commercial and industrial loans | 24,797 | 22,803 | |||||||||||||||||||||||||||||||
Consumer and other loans | 12,372 | 12,301 | |||||||||||||||||||||||||||||||
Total loans | $ | 367,490 | $ | 357,093 | |||||||||||||||||||||||||||||
Allowance for loan losses | (10,006 | ) | (10,644 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 357,484 | $ | 346,449 | |||||||||||||||||||||||||||||
Net deferred loan fees included in the above loan categories were $79 thousand and $18 thousand at June 30, 2014 and December 31, 2013, respectively. Consumer and other loans included $229 thousand and $279 thousand of demand deposit overdrafts at June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||
Risk characteristics of each loan portfolio class that are considered by the Company include: | |||||||||||||||||||||||||||||||||
• | 1-4 family residential mortgage loans carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral. | ||||||||||||||||||||||||||||||||
• | Real estate construction and land development loans carry risks that the project may not be finished according to schedule, the project may not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure or other factors unrelated to the project. | ||||||||||||||||||||||||||||||||
• | Other real estate loans and commercial and industrial loans carry risks associated with the successful operation of a business or a real estate project, in addition to other risks associated with the ownership of real estate, because repayment of these loans may be dependent upon the profitability and cash flows of the business or project. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much reliability. | ||||||||||||||||||||||||||||||||
• | Consumer and other loans carry risk associated with the continued credit-worthiness of the borrower and the value of the collateral, i.e. rapidly depreciating assets such as automobiles, or lack thereof. Consumer loans are likely to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy, or other changes in circumstances. | ||||||||||||||||||||||||||||||||
The following table provides a summary of loan classes and an aging of past due loans as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | > 90 | Total | Current | Total | Non-accrual | 90 Days | ||||||||||||||||||||||||||
Days Past | Days Past | Days Past | Past Due | Loans | Loans | or More | |||||||||||||||||||||||||||
Due | Due | Due | Past Due | ||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 2,277 | $ | 72 | $ | 3,454 | $ | 5,803 | $ | 26,992 | $ | 32,795 | $ | 5,451 | $ | 167 | |||||||||||||||||
1-4 family residential | 1,417 | 650 | 378 | 2,445 | 148,598 | 151,043 | 1,025 | 158 | |||||||||||||||||||||||||
Other real estate loans | 590 | 277 | 1,327 | 2,194 | 144,289 | 146,483 | 4,592 | — | |||||||||||||||||||||||||
Commercial and industrial | 329 | 19 | — | 348 | 24,449 | 24,797 | 153 | — | |||||||||||||||||||||||||
Consumer and other loans | 10 | — | — | 10 | 12,362 | 12,372 | — | — | |||||||||||||||||||||||||
Total | $ | 4,623 | $ | 1,018 | $ | 5,159 | $ | 10,800 | $ | 356,690 | $ | 367,490 | $ | 11,221 | $ | 325 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | > 90 | Total | Current | Total | Non-accrual | 90 Days | ||||||||||||||||||||||||||
Days Past | Days Past | Days Past | Past Due | Loans | Loans | or More | |||||||||||||||||||||||||||
Due | Due | Due | Past Due | ||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 161 | $ | 2,852 | $ | 3,339 | $ | 6,352 | $ | 27,708 | $ | 34,060 | $ | 5,811 | $ | — | |||||||||||||||||
1-4 family residential | 1,561 | 316 | 136 | 2,013 | 139,948 | 141,961 | 953 | 27 | |||||||||||||||||||||||||
Other real estate loans | 1,077 | 1,636 | 74 | 2,787 | 143,181 | 145,968 | 4,756 | — | |||||||||||||||||||||||||
Commercial and industrial | 165 | — | 22 | 187 | 22,616 | 22,803 | 144 | 22 | |||||||||||||||||||||||||
Consumer and other loans | 41 | 5 | — | 46 | 12,255 | 12,301 | 14 | — | |||||||||||||||||||||||||
Total | $ | 3,005 | $ | 4,809 | $ | 3,571 | $ | 11,385 | $ | 345,708 | $ | 357,093 | $ | 11,678 | $ | 49 | |||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
As part of the ongoing monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans. The Company utilizes a risk grading matrix to assign a rating to each of its loans. The loan ratings are summarized into the following categories: pass, special mention, substandard, doubtful and loss. Pass rated loans include all risk rated credits other than those included in special mention, substandard or doubtful. Loans classified as loss are charged-off. Loan officers assign risk grades to loans at origination and as renewals arise. The Bank’s Credit Administration department reviews risk grades for accuracy on a quarterly basis and as credit issues arise. In addition, a certain amount of loans are reviewed each year through the Company’s internal and external loan review process. A description of the general characteristics of the loan grading categories is as follows: | |||||||||||||||||||||||||||||||||
Pass – Loans classified as pass exhibit acceptable operating trends, balance sheet trends, and liquidity. Sufficient cash flow exists to service the loan. All obligations have been paid by the borrower in an as agreed manner. | |||||||||||||||||||||||||||||||||
Special Mention – Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the Bank’s credit position at some future date. | |||||||||||||||||||||||||||||||||
Substandard – Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||
Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The Company considers all doubtful loans to be impaired and places the loan on non-accrual status. | |||||||||||||||||||||||||||||||||
Loss – Loans classified as loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. | |||||||||||||||||||||||||||||||||
The following tables provide an analysis of the credit risk profile of each loan class as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 20,402 | $ | 2,939 | $ | 9,454 | $ | — | $ | 32,795 | |||||||||||||||||||||||
Secured by 1-4 family residential | 138,380 | 6,406 | 6,257 | — | 151,043 | ||||||||||||||||||||||||||||
Other real estate loans | 120,964 | 10,216 | 15,303 | — | 146,483 | ||||||||||||||||||||||||||||
Commercial and industrial | 24,066 | 246 | 485 | — | 24,797 | ||||||||||||||||||||||||||||
Consumer and other loans | 12,372 | — | — | — | 12,372 | ||||||||||||||||||||||||||||
Total | $ | 316,184 | $ | 19,807 | $ | 31,499 | $ | — | $ | 367,490 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 19,724 | $ | 3,500 | $ | 10,836 | $ | — | $ | 34,060 | |||||||||||||||||||||||
Secured by 1-4 family residential | 130,048 | 5,378 | 6,535 | — | 141,961 | ||||||||||||||||||||||||||||
Other real estate loans | 118,663 | 10,227 | 17,078 | — | 145,968 | ||||||||||||||||||||||||||||
Commercial and industrial | 21,563 | 555 | 685 | — | 22,803 | ||||||||||||||||||||||||||||
Consumer and other loans | 12,287 | — | 14 | — | 12,301 | ||||||||||||||||||||||||||||
Total | $ | 302,285 | $ | 19,660 | $ | 35,148 | $ | — | $ | 357,093 | |||||||||||||||||||||||
Allowance_for_Loan_Losses
Allowance for Loan Losses | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
Note 4. | Allowance for Loan Losses | ||||||||||||||||||||||||||||
Transactions in the allowance for loan losses for the six months ended June 30, 2014 and 2013 and for the year ended December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 10,644 | $ | 13,075 | $ | 13,075 | |||||||||||||||||||||||
Provision charged to (recovery from) operating expense | (600 | ) | (425 | ) | 2,250 | ||||||||||||||||||||||||
Loan recoveries | 507 | 2,486 | 498 | ||||||||||||||||||||||||||
Loan charge-offs | (545 | ) | (4,492 | ) | (3,345 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 10,006 | $ | 10,644 | $ | 12,478 | |||||||||||||||||||||||
The following tables present, as of June 30, 2014, December 31, 2013 and June 30, 2013, the total allowance for loan losses, the allowance by impairment methodology and loans by impairment methodology (in thousands). | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2013 | $ | 2,710 | $ | 2,975 | $ | 4,418 | $ | 442 | $ | 99 | $ | 10,644 | |||||||||||||||||
Charge-offs | — | (104 | ) | (203 | ) | (36 | ) | (202 | ) | (545 | ) | ||||||||||||||||||
Recoveries | 40 | 7 | 339 | 3 | 118 | 507 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | (636 | ) | 18 | (167 | ) | 65 | 120 | (600 | ) | ||||||||||||||||||||
Ending Balance, June 30, 2014 | $ | 2,114 | $ | 2,896 | $ | 4,387 | $ | 474 | $ | 135 | $ | 10,006 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 779 | 126 | 911 | 57 | — | 1,873 | |||||||||||||||||||||||
Collectively evaluated for impairment | 1,335 | 2,770 | 3,476 | 417 | 135 | 8,133 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 32,795 | 151,043 | 146,483 | 24,797 | 12,372 | 367,490 | |||||||||||||||||||||||
Individually evaluated for impairment | 6,427 | 3,297 | 9,994 | 164 | — | 19,882 | |||||||||||||||||||||||
Collectively evaluated for impairment | 26,368 | 147,746 | 136,489 | 24,633 | 12,372 | 347,608 | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2012 | $ | 2,481 | $ | 3,712 | $ | 6,163 | $ | 608 | $ | 111 | $ | 13,075 | |||||||||||||||||
Charge-offs | (2,962 | ) | (260 | ) | (1,070 | ) | (37 | ) | (163 | ) | (4,492 | ) | |||||||||||||||||
Recoveries | — | 823 | 1,304 | 179 | 180 | 2,486 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | 3,191 | (1,300 | ) | (1,979 | ) | (308 | ) | (29 | ) | (425 | ) | ||||||||||||||||||
Ending Balance, December 31, 2013 | $ | 2,710 | $ | 2,975 | $ | 4,418 | $ | 442 | $ | 99 | $ | 10,644 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 882 | 190 | 263 | 44 | — | 1,379 | |||||||||||||||||||||||
Collectively evaluated for impairment | 1,828 | 2,785 | 4,155 | 398 | 99 | 9,265 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 34,060 | 141,961 | 145,968 | 22,803 | 12,301 | 357,093 | |||||||||||||||||||||||
Individually evaluated for impairment | 6,862 | 3,431 | 11,143 | 258 | — | 21,694 | |||||||||||||||||||||||
Collectively evaluated for impairment | 27,198 | 138,530 | 134,825 | 22,545 | 12,301 | 335,399 | |||||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2012 | $ | 2,481 | $ | 3,712 | $ | 6,163 | $ | 608 | $ | 111 | $ | 13,075 | |||||||||||||||||
Charge-offs | (2,308 | ) | (172 | ) | (798 | ) | — | (67 | ) | (3,345 | ) | ||||||||||||||||||
Recoveries | — | 6 | 206 | 176 | 110 | 498 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | 3,097 | 179 | (561 | ) | (399 | ) | (66 | ) | 2,250 | ||||||||||||||||||||
Ending Balance, June 30, 2013 | $ | 3,270 | $ | 3,725 | $ | 5,010 | $ | 385 | $ | 88 | $ | 12,478 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 747 | 195 | 161 | 19 | — | 1,122 | |||||||||||||||||||||||
Collectively evaluated for impairment | 2,523 | 3,530 | 4,849 | 366 | 88 | 11,356 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 44,305 | 145,628 | 159,834 | 19,701 | 8,045 | 377,513 | |||||||||||||||||||||||
Individually evaluated for impairment | 3,595 | 1,940 | 5,219 | 90 | — | 10,844 | |||||||||||||||||||||||
Collectively evaluated for impairment | 40,710 | 143,688 | 154,615 | 19,611 | 8,045 | 366,669 | |||||||||||||||||||||||
Impaired loans and the related allowance at June 30, 2014, December 31, 2013 and June 30, 2013, were as follows (in thousands): | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 8,746 | $ | 4,022 | $ | 2,405 | $ | 6,427 | $ | 779 | $ | 6,607 | $ | 21 | |||||||||||||||
Secured by 1-4 family | 4,230 | 2,766 | 531 | 3,297 | 126 | 3,248 | 62 | ||||||||||||||||||||||
Other real estate loans | 10,501 | 7,347 | 2,647 | 9,994 | 911 | 10,998 | 125 | ||||||||||||||||||||||
Commercial and industrial | 170 | 11 | 153 | 164 | 57 | 185 | 1 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 23,647 | $ | 14,146 | $ | 5,736 | $ | 19,882 | $ | 1,873 | $ | 21,038 | $ | 209 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 9,086 | $ | 4,259 | $ | 2,603 | $ | 6,862 | $ | 882 | $ | 5,397 | $ | 204 | |||||||||||||||
Secured by 1-4 family | 4,341 | 2,515 | 916 | 3,431 | 190 | 2,864 | 146 | ||||||||||||||||||||||
Other real estate loans | 12,385 | 9,455 | 1,688 | 11,143 | 263 | 7,079 | 441 | ||||||||||||||||||||||
Commercial and industrial | 260 | 114 | 144 | 258 | 44 | 669 | 14 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 26,072 | $ | 16,343 | $ | 5,351 | $ | 21,694 | $ | 1,379 | $ | 16,009 | $ | 805 | |||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 6,245 | $ | 2,678 | $ | 917 | $ | 3,595 | $ | 747 | $ | 5,059 | $ | 20 | |||||||||||||||
Secured by 1-4 family | 2,864 | 856 | 1,084 | 1,940 | 195 | 3,047 | 14 | ||||||||||||||||||||||
Other real estate loans | 6,242 | 3,877 | 1,342 | 5,219 | 161 | 8,682 | 90 | ||||||||||||||||||||||
Commercial and industrial | 91 | — | 90 | 90 | 19 | 87 | 2 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 15,442 | $ | 7,411 | $ | 3,433 | $ | 10,844 | $ | 1,122 | $ | 16,875 | $ | 126 | |||||||||||||||
The “Recorded Investment” amounts in the table above represent the outstanding principal balance on each loan represented in the table. The “Unpaid Principal Balance” represents the outstanding principal balance on each loan represented in the table plus any amounts that have been charged off on each loan and/or payments that have been applied towards principal on non-accrual loans. | |||||||||||||||||||||||||||||
As of June 30, 2014, loans classified as troubled debt restructurings (TDRs) and included in impaired loans in the disclosure above totaled $2.0 million. At June 30, 2014, $978 thousand of the loans classified as TDRs were performing under the restructured terms and were not considered non-performing assets. There were $1.9 million in TDRs at December 31, 2013, $829 thousand of which were performing under the restructured terms. Modified terms under TDRs may include rate reductions, extension of terms that are considered to be below market, conversion to interest only, and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. There was one new other real estate loan modified under a TDR during the six month period ended June 30, 2014. The recorded investment for this loan prior to the modification totaled $283 thousand and the recorded investment after the modification totaled $344 thousand. There were no loans modified under TDRs during the three month period ended June 30, 2014 and the three and six month periods ended June 30, 2013. | |||||||||||||||||||||||||||||
For the three and six months ended June 30, 2014 and 2013, there were no troubled debt restructurings that subsequently defaulted within twelve months of the loan modification. Management defines default as over ninety days past due or charged-off during the twelve month period subsequent to the modification. |
Other_Real_Estate_Owned_OREO
Other Real Estate Owned (OREO) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Other Real Estate Owned (OREO) | ' | ||||||||||||
Note 5. | Other Real Estate Owned (OREO) | ||||||||||||
At June 30, 2014 and December 31, 2013, OREO totaled $2.2 million and $3.0 million, respectively. OREO is primarily comprised of residential lots, raw land, non-residential properties and residential properties, and are located primarily in the Commonwealth of Virginia. Changes in the balance for OREO are as follows (in thousands): | |||||||||||||
For the six | For the year | ||||||||||||
months ended | ended | ||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Balance at the beginning of year, gross | $ | 4,695 | $ | 7,764 | |||||||||
Transfers in | 139 | 2,036 | |||||||||||
Charge-offs | (163 | ) | (1,564 | ) | |||||||||
Sales proceeds | (1,021 | ) | (3,618 | ) | |||||||||
Gain on disposition | 160 | 80 | |||||||||||
Depreciation | (1 | ) | (3 | ) | |||||||||
Balance at the end of period, gross | $ | 3,809 | $ | 4,695 | |||||||||
Less: valuation allowance | (1,588 | ) | (1,665 | ) | |||||||||
Balance at the end of period, net | $ | 2,221 | $ | 3,030 | |||||||||
Changes in the valuation allowance are as follows (in thousands): | |||||||||||||
For the six | For the year | ||||||||||||
months ended | ended | ||||||||||||
June 30, | June 30, | December 31, | |||||||||||
2014 | 2013 | 2013 | |||||||||||
Balance at beginning of year | $ | 1,665 | $ | 2,174 | $ | 2,174 | |||||||
Provision for losses | 86 | 448 | 1,055 | ||||||||||
Transfer in | — | 62 | — | ||||||||||
Charge-offs, net | (163 | ) | (601 | ) | (1,564 | ) | |||||||
Balance at end of period | $ | 1,588 | $ | 2,083 | $ | 1,665 | |||||||
Net expenses applicable to OREO, other than the provision for losses, were $35 thousand and $99 thousand for the six months ended June 30, 2014 and 2013, respectively and $150 thousand for the year ended December 31, 2013. |
Other_Borrowings
Other Borrowings | 6 Months Ended | |
Jun. 30, 2014 | ||
Text Block [Abstract] | ' | |
Other Borrowings | ' | |
Note 6. | Other Borrowings | |
The Bank had unused lines of credit totaling $103.4 million and $108.4 million available with non-affiliated banks at June 30, 2014 and December 31, 2013, respectively. This amount primarily consists of a blanket floating lien agreement with the Federal Home Loan Bank of Atlanta (FHLB) under which the Bank can borrow up to 19% of its total assets. The unused line of credit with FHLB totaled $63.7 million at June 30, 2014. | ||
At June 30, 2014 and December 31, 2013, the Bank had borrowings from the FHLB system totaling $6.0 million which mature through December 28, 2018. The interest rate on these notes payable ranged from 1.78% to 2.04% and the weighted average rate was 1.91%. The Bank also had a letter of credit from the FHLB totaling $30.0 million and $25.0 million at June 30, 2014 and December 31, 2013, respectively. The Bank had collateral pledged on the borrowings and the letter of credit at June 30, 2014 and December 31, 2013 including real estate loans totaling $66.9 million and $78.6 million, respectively, and Federal Home Loan Bank stock with a book value of $740 thousand and $908 thousand, respectively. | ||
At June 30, 2014 and December 31, 2013, the Bank had a note payable totaling $39 and $52 thousand, respectively, secured by a deed of trust, which requires monthly payments of $2 thousand and matures January 3, 2016. The fixed interest rate on this loan is 4.00%. |
Capital_Requirements
Capital Requirements | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Capital Requirements | ' | ||||||||||||||||||||||||
Note 7. | Capital Requirements | ||||||||||||||||||||||||
A comparison of the capital of the Company and the Bank at June 30, 2014 and December 31, 2013 with the minimum regulatory guidelines were as follows (dollars in thousands): | |||||||||||||||||||||||||
Actual | Minimum Capital | Minimum | |||||||||||||||||||||||
Requirement | To Be Well | ||||||||||||||||||||||||
Capitalized Under | |||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 69,455 | 18.64 | % | $ | 29,803 | 8 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 64,302 | 17.28 | % | $ | 29,762 | 8 | % | $ | 37,202 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 64,732 | 17.38 | % | $ | 14,902 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 59,586 | 16.02 | % | $ | 14,881 | 4 | % | $ | 22,321 | 6 | % | |||||||||||||
Tier 1 Capital (to Average Assets): | |||||||||||||||||||||||||
Consolidated | $ | 64,732 | 12.22 | % | $ | 21,186 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 59,586 | 11.26 | % | $ | 21,171 | 4 | % | $ | 26,463 | 5 | % | |||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 66,437 | 18.21 | % | $ | 29,193 | 8 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 60,578 | 16.62 | % | $ | 29,160 | 8 | % | $ | 36,450 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 61,800 | 16.94 | % | $ | 14,597 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 55,947 | 15.35 | % | $ | 14,580 | 4 | % | $ | 21,870 | 6 | % | |||||||||||||
Tier 1 Capital (to Average Assets): | |||||||||||||||||||||||||
Consolidated | $ | 61,800 | 11.75 | % | $ | 21,047 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 55,947 | 10.68 | % | $ | 20,948 | 4 | % | $ | 26,184 | 5 | % | |||||||||||||
Trust_Preferred_Capital_Notes
Trust Preferred Capital Notes | 6 Months Ended | |
Jun. 30, 2014 | ||
Debt Disclosure [Abstract] | ' | |
Trust Preferred Capital Notes | ' | |
Note 8. | Trust Preferred Capital Notes | |
On June 8, 2004, First National (VA) Statutory Trust II (Trust II), a wholly-owned subsidiary of the Company, was formed for the purpose of issuing redeemable capital securities, commonly known as trust preferred securities. On June 17, 2004, $5.0 million of trust preferred securities were issued through a pooled underwriting. The securities have a LIBOR-indexed floating rate of interest. The interest rate at June 30, 2014 and December 31, 2013 was 2.83% and 2.84%, respectively. The securities have a mandatory redemption date of June 17, 2034, and were subject to varying call provisions that began September 17, 2009. The principal asset of Trust II is $5.2 million of the Company’s junior subordinated debt securities with maturities and interest rates comparable to the trust preferred securities. The Trust’s obligations under the trust preferred securities are fully and unconditionally guaranteed by the Company. The Company is current on its interest payments on the trust preferred securities. | ||
On July 24, 2006, First National (VA) Statutory Trust III (Trust III), a wholly-owned subsidiary of the Company, was formed for the purpose of issuing redeemable capital securities. On July 31, 2006, $4.0 million of trust preferred securities were issued through a pooled underwriting. The securities have a LIBOR-indexed floating rate of interest. The interest rate at June 30, 2014 and December 31, 2013 was 1.83% and 1.85%, respectively. The securities have a mandatory redemption date of October 1, 2036, and were subject to varying call provisions that began October 1, 2011. The principal asset of Trust III is $4.1 million of the Company’s junior subordinated debt securities with maturities and interest rates comparable to the trust preferred securities. The Trust’s obligations under the trust preferred securities are fully and unconditionally guaranteed by the Company. The Company is current on its interest payments on the trust preferred securities. | ||
While these securities are debt obligations of the Company, they are included in capital for regulatory capital ratio calculations. Under present regulations, the trust preferred securities may be included in Tier 1 capital for regulatory capital adequacy purposes as long as their amount does not exceed 25% of Tier 1 capital, including total trust preferred securities. The portion of the trust preferred securities not considered as Tier 1 capital, if any, may be included in Tier 2 capital. At June 30, 2014 and December 31, 2013, the total amount of trust preferred securities issued by the Trusts was included in the Company’s Tier 1 capital. |
Benefit_Plans
Benefit Plans | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Benefit Plans | ' | ||||||||||||||||
Note 9. | Benefit Plans | ||||||||||||||||
The Bank has a noncontributory, defined benefit pension plan for all full-time employees over 21 years of age with at least one year of credited service and hired prior to May 1, 2011. Effective May 1, 2011, the plan was frozen to new participants. Only individuals employed on or before April 30, 2011 are eligible to become participants in the plan upon satisfaction of the eligibility requirements. Benefits are generally based upon years of service and average compensation for the five highest-paid consecutive years of service. The Bank’s funding practice has been to make at least the minimum required annual contribution permitted by the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code of 1986, as amended. | |||||||||||||||||
Components of the net periodic benefit cost of the plan for the three and six months ended June 30, 2014 and 2013 were as follows (in thousands): | |||||||||||||||||
For the three months | For the six months | ||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 87 | $ | 118 | $ | 174 | $ | 236 | |||||||||
Interest cost | 67 | 70 | 134 | 140 | |||||||||||||
Expected return on plan assets | (79 | ) | (76 | ) | (158 | ) | (152 | ) | |||||||||
Amortization of net loss | — | 27 | — | 54 | |||||||||||||
Net periodic benefit cost | $ | 75 | $ | 139 | $ | 150 | $ | 278 | |||||||||
The Company previously disclosed in its consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2013, that it expected to make no contribution to its pension plan during the year ended December 31, 2014. There was no minimum annual contribution required. | |||||||||||||||||
In addition to the defined benefit pension plan, the Company maintains a 401(k) plan and an employee stock ownership plan (ESOP) for eligible employees. See Note 11 of the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 for additional information about the Company’s benefit plans. | |||||||||||||||||
Earnings_Per_Common_Share
Earnings Per Common Share | 6 Months Ended | |
Jun. 30, 2014 | ||
Earnings Per Share [Abstract] | ' | |
Earnings Per Common Share | ' | |
Note 10. | Earnings per Common Share | |
Basic earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. There are no potential common shares that would have a dilutive effect. The average number of common shares outstanding used to calculate basic and diluted earnings per common share were 4,901,599 and 4,901,464 for the three months ended June 30, 2014 and 2013, respectively, and 4,901,532 and 4,901,464 for the six months ended June 30, 2014 and 2013 respectively. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
Note 11. | Fair Value Measurements | ||||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the “Fair Value Measurement and Disclosures” topic of FASB ASC, the fair value of an instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. | |||||||||||||||||||||
The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
In accordance with this guidance, the Company groups its assets and liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. | |||||||||||||||||||||
Level 1 – | Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | ||||||||||||||||||||
Level 2 – | Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. | ||||||||||||||||||||
Level 3 – | Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires a significant management judgment or estimation. | ||||||||||||||||||||
An instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a recurring basis in the financial statements: | |||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||
Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that consider observable market data (Level 2). | |||||||||||||||||||||
The following tables present the balances of assets measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 (in thousands). | |||||||||||||||||||||
Description | Balance as of | Fair Value Measurements at June 30, 2014 | |||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 87,066 | $ | — | $ | 87,066 | $ | — | |||||||||||||
Obligations of states and political subdivisions | 21,812 | — | 21,812 | — | |||||||||||||||||
Corporate equity securities | 6 | 6 | — | — | |||||||||||||||||
$ | 108,884 | $ | 6 | $ | 108,878 | $ | — | ||||||||||||||
Description | Balance as of | Fair Value Measurements at December 31, 2013 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 84,897 | $ | — | $ | 84,897 | $ | — | |||||||||||||
Obligations of states and political subdivisions | 18,399 | — | 18,399 | — | |||||||||||||||||
Corporate equity securities | 5 | 5 | — | — | |||||||||||||||||
$ | 103,301 | $ | 5 | $ | 103,296 | $ | — | ||||||||||||||
Certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. | |||||||||||||||||||||
The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the financial statements: | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||
Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreements will not be collected. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair value of the collateral. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the Company’s collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal conducted by an independent, licensed appraiser using observable market data (Level 2) within the last twelve months. However, if the collateral is a house or building in the process of construction or if an appraisal of the property is more than one year old and not solely based on observable market comparables or management determines the fair value of the collateral is further impaired below the appraised value, then a Level 3 valuation is considered to measure the fair value. The value of business equipment is based upon an outside appraisal, of one year or less, if deemed significant, or the net book value on the applicable business’s financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Impaired loans allocated to the allowance for loan losses are measured at fair value on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. | |||||||||||||||||||||
Other real estate owned | |||||||||||||||||||||
Loans are transferred to other real estate owned when the collateral securing them is foreclosed on or acquired through a deed in lieu of foreclosure. The measurement of loss associated with other real estate owned is based on the appraisal documents and assessed the same way as impaired loans described above. | |||||||||||||||||||||
The following tables summarize the Company’s assets that were measured at fair value on a nonrecurring basis during the periods (dollars in thousands): | |||||||||||||||||||||
Description | Balance as of | Fair Value Measurements at June 30, 2014 | |||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,863 | $ | — | $ | — | $ | 3,863 | |||||||||||||
Other real estate owned, net | 2,221 | — | — | 2,221 | |||||||||||||||||
Description | Balance as of | Fair Value Measurements at December 31, 2013 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,972 | $ | — | $ | — | $ | 3,972 | |||||||||||||
Other real estate owned, net | 3,030 | — | — | 3,030 | |||||||||||||||||
Quantitative information about Level 3 Fair Value Measurements for June 30, 2014 | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Range (Weighted-Average) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,863 | Property appraisals | Selling cost | 10% | ||||||||||||||||
Discount for lack of marketability and age of appraisal | 0-19% (5%) | ||||||||||||||||||||
Other real estate owned, net | $ | 2,221 | Property appraisals | Selling cost | 7% | ||||||||||||||||
Accounting guidance requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The methodologies for other financial assets and financial liabilities are discussed below: | |||||||||||||||||||||
Cash and Cash Equivalents and Federal Funds Sold | |||||||||||||||||||||
The carrying amounts of cash and short-term instruments approximate fair values. | |||||||||||||||||||||
Restricted Securities | |||||||||||||||||||||
The carrying value of restricted securities approximates fair value based on redemption. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
For variable-rate loans that re-price frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for all other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for non-performing loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |||||||||||||||||||||
Deposit Liabilities | |||||||||||||||||||||
The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Accrued Interest | |||||||||||||||||||||
The carrying amounts of accrued interest approximate fair value. | |||||||||||||||||||||
Borrowings | |||||||||||||||||||||
The carrying amounts of federal funds purchased and other short-term borrowings maturing within ninety days approximate their fair values. Fair values of all other borrowings are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. | |||||||||||||||||||||
Bank Owned Life Insurance | |||||||||||||||||||||
The carrying amounts of bank owned life insurance approximate fair value. | |||||||||||||||||||||
Commitments and Unfunded Credits | |||||||||||||||||||||
The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. | |||||||||||||||||||||
The fair value of stand-by letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. At June 30, 2014 and December 31, 2013, fair value of loan commitments and standby letters of credit was immaterial. | |||||||||||||||||||||
The carrying values and estimated fair values of the Company’s financial instruments at June 30, 2014 and December 31, 2013 are as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements at June 30, 2014 Using | |||||||||||||||||||||
Carrying | Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Amount | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | Level 3 | |||||||||||||||||||
Identical | Level 2 | ||||||||||||||||||||
Assets | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 19,322 | $ | 19,322 | $ | — | $ | — | $ | 19,322 | |||||||||||
Securities | 108,884 | 6 | 108,878 | — | 108,884 | ||||||||||||||||
Restricted securities | 1,636 | — | 1,636 | — | 1,636 | ||||||||||||||||
Loans, net | 357,484 | — | — | 365,034 | 365,034 | ||||||||||||||||
Bank owned life insurance | 11,141 | — | 11,141 | — | 11,141 | ||||||||||||||||
Accrued interest receivable | 1,258 | — | 1,258 | — | 1,258 | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | $ | 451,198 | $ | — | $ | 335,325 | $ | 116,179 | $ | 451,504 | |||||||||||
Other borrowings | 6,039 | — | — | 6,137 | 6,137 | ||||||||||||||||
Trust preferred capital notes | 9,279 | — | — | 10,351 | 10,351 | ||||||||||||||||
Accrued interest payable | 151 | — | 151 | — | 151 | ||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Carrying | Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Amount | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | Level 3 | |||||||||||||||||||
Identical | Level 2 | ||||||||||||||||||||
Assets | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 31,508 | $ | 31,508 | $ | — | $ | — | $ | 31,508 | |||||||||||
Securities | 103,301 | 5 | 103,296 | — | 103,301 | ||||||||||||||||
Restricted securities | 1,804 | — | 1,804 | — | 1,804 | ||||||||||||||||
Loans, net | 346,449 | — | — | 353,874 | 353,874 | ||||||||||||||||
Bank owned life insurance | 10,978 | — | 10,978 | — | 10,978 | ||||||||||||||||
Accrued interest receivable | 1,302 | — | 1,302 | — | 1,302 | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | $ | 450,711 | $ | — | $ | 326,955 | $ | 124,422 | $ | 451,377 | |||||||||||
Other borrowings | 6,052 | — | — | 6,095 | 6,095 | ||||||||||||||||
Trust preferred capital notes | 9,279 | — | — | 9,399 | 9,399 | ||||||||||||||||
Accrued interest payable | 177 | — | 177 | — | 177 | ||||||||||||||||
The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Company’s overall interest rate risk. |
Preferred_Stock
Preferred Stock | 6 Months Ended | |
Jun. 30, 2014 | ||
Equity [Abstract] | ' | |
Preferred Stock | ' | |
Note 12. | Preferred Stock | |
The Company has (i) 13,900 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, with a par value of $1.25 per share and liquidation preference of $1,000 per share (the Preferred Stock) and (ii) 695 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series B, with a par value of $1.25 per share and liquidation preference of $1,000 per share (the Warrant Preferred Stock). The Preferred Stock paid cumulative dividends at a rate of 5% per annum until May 14, 2014, and thereafter at a rate of 9% per annum. The Warrant Preferred Stock pays cumulative dividends at a rate of 9% per annum from the date of issuance. The discount on the Preferred Stock was amortized over a five year period using the constant effective yield method. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||
Note 13. | Accumulated Other Comprehensive Loss | ||||||||||||
Changes in each component of accumulated other comprehensive loss were as follows (in thousands): | |||||||||||||
Net | Adjustments | Accumulated | |||||||||||
Unrealized | Related to | Other | |||||||||||
Gains (Losses) | Pension | Comprehensive | |||||||||||
on Securities | Benefits | Loss | |||||||||||
Balance at December 31, 2012 | $ | 1,770 | $ | (2,629 | ) | $ | (859 | ) | |||||
Unrealized holding losses (net of tax, $0) | (2,693 | ) | — | (2,693 | ) | ||||||||
Change during period | (2,693 | ) | — | (2,693 | ) | ||||||||
Balance at June 30, 2013 | $ | (923 | ) | $ | (2,629 | ) | $ | (3,552 | ) | ||||
Balance at December 31, 2013 | $ | (1,129 | ) | $ | (175 | ) | $ | (1,304 | ) | ||||
Unrealized holding gains (net of tax, $471) | 915 | — | 915 | ||||||||||
Reclassification adjustment (net of tax, $7) | (15 | ) | — | (15 | ) | ||||||||
Change during period | 900 | — | 900 | ||||||||||
Balance at June 30, 2014 | $ | (229 | ) | $ | (175 | ) | $ | (404 | ) | ||||
The following tables present information related to reclassifications from accumulated other comprehensive loss for the three and six month periods ended June 30, 2014 and 2013 (in thousands): | |||||||||||||
Details About Accumulated Other Comprehensive Loss | Amount Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Accumulated Other | Statements of Income | ||||||||||||
Comprehensive Loss | |||||||||||||
For the three months | |||||||||||||
ended June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Securities available for sale: | |||||||||||||
Net securities gains reclassified into earnings | $ | (22 | ) | $ | — | Net gains on sale of securities available for sale | |||||||
Related income tax expense | 7 | — | Income tax expense | ||||||||||
Total reclassifications | $ | (15 | ) | $ | — | Net of tax | |||||||
Details About Accumulated Other Comprehensive Loss | Amount Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Accumulated Other | Statements of Income | ||||||||||||
Comprehensive Loss | |||||||||||||
For the six months | |||||||||||||
ended June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Securities available for sale: | |||||||||||||
Net securities gains reclassified into earnings | $ | (22 | ) | $ | — | Net gains on sale of securities available for sale | |||||||
Related income tax expense | 7 | — | Income tax expense | ||||||||||
Total reclassifications | $ | (15 | ) | $ | — | Net of tax | |||||||
Subsequent_Event
Subsequent Event | 6 Months Ended | |
Jun. 30, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Event | ' | |
Note 14. | Subsequent Event | |
On August 13, 2014, the Board of Directors of the Company declared a quarterly dividend of $0.025 per common share, which is payable on September 19, 2014 to shareholders of record as of September 5, 2014. |
General_Policies
General (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In January 2014, the FASB issued ASU 2014-01, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force).” The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-01 to have an impact on its consolidated financial statements. | |
In January 2014, the FASB issued 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).” The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The Company does not expect the adoption of ASU 2014-04 to have an impact on its consolidated financial statements. | |
In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results and include disposals of a major geographic area, a major line of business, or a major equity method investment. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Additionally, the new guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-08 to have a material impact on its consolidated financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers: Topic 606”. This ASU applies to any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The guidance supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition”, most industry-specific guidance, and some cost guidance included in Subtopic 605-35, “Revenue Recognition—Construction-Type and Production-Type Contracts”. The core principle of the guidance is 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 or services. To be in alignment with the core principle, an entity must apply a five step process including: identification of the contract(s) with a customer, identification of performance obligations in the contract(s), determination of the transaction price, allocation of the transaction price to the performance obligations, and recognition of revenue when (or as) the entity satisfies a performance obligation. Additionally, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer have also been amended to be consistent with the guidance on recognition and measurement. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The Company is currently assessing the impact that ASU 2014-09 will have on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures”. This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. The new guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. The amendments in the ASU also require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. Additional disclosures will be required for the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The amendments in this ASU are effective for the first interim or annual period beginning after December 15, 2014; however, the disclosure for transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Early adoption is not permitted. The Company does not expect the adoption of ASU 2014-11 to have an impact on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The new guidance applies to reporting entities that grant employees share-based payments in which the terms of the award allow a performance target to be achieved after the requisite service period. The amendments in the ASU require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Existing guidance in “Compensation – Stock Compensation (Topic 718)”, should be applied to account for these types of awards. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted and reporting entities may choose to apply the amendments in the ASU either on a prospective or retrospective basis. The Company is currently assessing the impact that ASU 2014-12 will have on its consolidated financial statements. | |
Fair Value Measurement and Disclosures | ' |
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the “Fair Value Measurement and Disclosures” topic of FASB ASC, the fair value of an instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. |
Securities_Tables
Securities (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Summary of Amortized Costs and Fair Values of Securities Available for Sale | ' | ||||||||||||||||||||||||
Amortized costs and fair values of securities available for sale at June 30, 2014 and December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 87,515 | $ | 961 | $ | (1,410 | ) | $ | 87,066 | ||||||||||||||||
Obligations of states and political subdivisions | 21,716 | 374 | (278 | ) | 21,812 | ||||||||||||||||||||
Corporate equity securities | 1 | 5 | — | 6 | |||||||||||||||||||||
$ | 109,232 | $ | 1,340 | $ | (1,688 | ) | $ | 108,884 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 86,365 | $ | 670 | $ | (2,138 | ) | $ | 84,897 | ||||||||||||||||
Obligations of states and political subdivisions | 18,647 | 350 | (598 | ) | 18,399 | ||||||||||||||||||||
Corporate equity securities | 1 | 4 | — | 5 | |||||||||||||||||||||
$ | 105,013 | $ | 1,024 | $ | (2,736 | ) | $ | 103,301 | |||||||||||||||||
Summary of Investments in an Unrealized Loss Position that were Temporarily Impaired | ' | ||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands): | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
(Loss) | (Loss) | (Loss) | |||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 16,702 | $ | (255 | ) | $ | 36,372 | $ | (1,155 | ) | $ | 53,074 | $ | (1,410 | ) | ||||||||||
Obligations of states and political subdivisions | 2,795 | (21 | ) | 6,999 | (257 | ) | 9,794 | (278 | ) | ||||||||||||||||
$ | 19,497 | $ | (276 | ) | $ | 43,371 | $ | (1,412 | ) | $ | 62,868 | $ | (1,688 | ) | |||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||
(Loss) | (Loss) | (Loss) | |||||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 49,810 | $ | (1,755 | ) | $ | 10,180 | $ | (383 | ) | $ | 59,990 | $ | (2,138 | ) | ||||||||||
Obligations of states and political subdivisions | 7,165 | (422 | ) | 2,663 | (176 | ) | 9,828 | (598 | ) | ||||||||||||||||
$ | 56,975 | $ | (2,177 | ) | $ | 12,843 | $ | (559 | ) | $ | 69,818 | $ | (2,736 | ) | |||||||||||
Composition of Restricted Securities | ' | ||||||||||||||||||||||||
The composition of restricted securities at June 30, 2014 and December 31, 2013 was as follows (in thousands): | |||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Federal Home Loan Bank stock | $ | 740 | $ | 908 | |||||||||||||||||||||
Federal Reserve Bank stock | 846 | 846 | |||||||||||||||||||||||
Community Bankers’ Bank stock | 50 | 50 | |||||||||||||||||||||||
$ | 1,636 | $ | 1,804 | ||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Loans | ' | ||||||||||||||||||||||||||||||||
Loans at June 30, 2014 and December 31, 2013 are summarized as follows (in thousands): | |||||||||||||||||||||||||||||||||
June 30, | December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 32,795 | $ | 34,060 | |||||||||||||||||||||||||||||
Secured by 1-4 family residential | 151,043 | 141,961 | |||||||||||||||||||||||||||||||
Other real estate loans | 146,483 | 145,968 | |||||||||||||||||||||||||||||||
Commercial and industrial loans | 24,797 | 22,803 | |||||||||||||||||||||||||||||||
Consumer and other loans | 12,372 | 12,301 | |||||||||||||||||||||||||||||||
Total loans | $ | 367,490 | $ | 357,093 | |||||||||||||||||||||||||||||
Allowance for loan losses | (10,006 | ) | (10,644 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 357,484 | $ | 346,449 | |||||||||||||||||||||||||||||
Summary of Loan Classes and an Aging of Past Due Loans | ' | ||||||||||||||||||||||||||||||||
The following table provides a summary of loan classes and an aging of past due loans as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | > 90 | Total | Current | Total | Non-accrual | 90 Days | ||||||||||||||||||||||||||
Days Past | Days Past | Days Past | Past Due | Loans | Loans | or More | |||||||||||||||||||||||||||
Due | Due | Due | Past Due | ||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 2,277 | $ | 72 | $ | 3,454 | $ | 5,803 | $ | 26,992 | $ | 32,795 | $ | 5,451 | $ | 167 | |||||||||||||||||
1-4 family residential | 1,417 | 650 | 378 | 2,445 | 148,598 | 151,043 | 1,025 | 158 | |||||||||||||||||||||||||
Other real estate loans | 590 | 277 | 1,327 | 2,194 | 144,289 | 146,483 | 4,592 | — | |||||||||||||||||||||||||
Commercial and industrial | 329 | 19 | — | 348 | 24,449 | 24,797 | 153 | — | |||||||||||||||||||||||||
Consumer and other loans | 10 | — | — | 10 | 12,362 | 12,372 | — | — | |||||||||||||||||||||||||
Total | $ | 4,623 | $ | 1,018 | $ | 5,159 | $ | 10,800 | $ | 356,690 | $ | 367,490 | $ | 11,221 | $ | 325 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | > 90 | Total | Current | Total | Non-accrual | 90 Days | ||||||||||||||||||||||||||
Days Past | Days Past | Days Past | Past Due | Loans | Loans | or More | |||||||||||||||||||||||||||
Due | Due | Due | Past Due | ||||||||||||||||||||||||||||||
and | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 161 | $ | 2,852 | $ | 3,339 | $ | 6,352 | $ | 27,708 | $ | 34,060 | $ | 5,811 | $ | — | |||||||||||||||||
1-4 family residential | 1,561 | 316 | 136 | 2,013 | 139,948 | 141,961 | 953 | 27 | |||||||||||||||||||||||||
Other real estate loans | 1,077 | 1,636 | 74 | 2,787 | 143,181 | 145,968 | 4,756 | — | |||||||||||||||||||||||||
Commercial and industrial | 165 | — | 22 | 187 | 22,616 | 22,803 | 144 | 22 | |||||||||||||||||||||||||
Consumer and other loans | 41 | 5 | — | 46 | 12,255 | 12,301 | 14 | — | |||||||||||||||||||||||||
Total | $ | 3,005 | $ | 4,809 | $ | 3,571 | $ | 11,385 | $ | 345,708 | $ | 357,093 | $ | 11,678 | $ | 49 | |||||||||||||||||
Analysis of the Credit Risk Profile of Each Loan Class | ' | ||||||||||||||||||||||||||||||||
The following tables provide an analysis of the credit risk profile of each loan class as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 20,402 | $ | 2,939 | $ | 9,454 | $ | — | $ | 32,795 | |||||||||||||||||||||||
Secured by 1-4 family residential | 138,380 | 6,406 | 6,257 | — | 151,043 | ||||||||||||||||||||||||||||
Other real estate loans | 120,964 | 10,216 | 15,303 | — | 146,483 | ||||||||||||||||||||||||||||
Commercial and industrial | 24,066 | 246 | 485 | — | 24,797 | ||||||||||||||||||||||||||||
Consumer and other loans | 12,372 | — | — | — | 12,372 | ||||||||||||||||||||||||||||
Total | $ | 316,184 | $ | 19,807 | $ | 31,499 | $ | — | $ | 367,490 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||
Construction and land development | $ | 19,724 | $ | 3,500 | $ | 10,836 | $ | — | $ | 34,060 | |||||||||||||||||||||||
Secured by 1-4 family residential | 130,048 | 5,378 | 6,535 | — | 141,961 | ||||||||||||||||||||||||||||
Other real estate loans | 118,663 | 10,227 | 17,078 | — | 145,968 | ||||||||||||||||||||||||||||
Commercial and industrial | 21,563 | 555 | 685 | — | 22,803 | ||||||||||||||||||||||||||||
Consumer and other loans | 12,287 | — | 14 | — | 12,301 | ||||||||||||||||||||||||||||
Total | $ | 302,285 | $ | 19,660 | $ | 35,148 | $ | — | $ | 357,093 | |||||||||||||||||||||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Transactions in Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
Transactions in the allowance for loan losses for the six months ended June 30, 2014 and 2013 and for the year ended December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 10,644 | $ | 13,075 | $ | 13,075 | |||||||||||||||||||||||
Provision charged to (recovery from) operating expense | (600 | ) | (425 | ) | 2,250 | ||||||||||||||||||||||||
Loan recoveries | 507 | 2,486 | 498 | ||||||||||||||||||||||||||
Loan charge-offs | (545 | ) | (4,492 | ) | (3,345 | ) | |||||||||||||||||||||||
Balance at end of period | $ | 10,006 | $ | 10,644 | $ | 12,478 | |||||||||||||||||||||||
Allowance by Impairment Methodology and Loans by Impairment Methodology | ' | ||||||||||||||||||||||||||||
The following tables present, as of June 30, 2014, December 31, 2013 and June 30, 2013, the total allowance for loan losses, the allowance by impairment methodology and loans by impairment methodology (in thousands). | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2013 | $ | 2,710 | $ | 2,975 | $ | 4,418 | $ | 442 | $ | 99 | $ | 10,644 | |||||||||||||||||
Charge-offs | — | (104 | ) | (203 | ) | (36 | ) | (202 | ) | (545 | ) | ||||||||||||||||||
Recoveries | 40 | 7 | 339 | 3 | 118 | 507 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | (636 | ) | 18 | (167 | ) | 65 | 120 | (600 | ) | ||||||||||||||||||||
Ending Balance, June 30, 2014 | $ | 2,114 | $ | 2,896 | $ | 4,387 | $ | 474 | $ | 135 | $ | 10,006 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 779 | 126 | 911 | 57 | — | 1,873 | |||||||||||||||||||||||
Collectively evaluated for impairment | 1,335 | 2,770 | 3,476 | 417 | 135 | 8,133 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 32,795 | 151,043 | 146,483 | 24,797 | 12,372 | 367,490 | |||||||||||||||||||||||
Individually evaluated for impairment | 6,427 | 3,297 | 9,994 | 164 | — | 19,882 | |||||||||||||||||||||||
Collectively evaluated for impairment | 26,368 | 147,746 | 136,489 | 24,633 | 12,372 | 347,608 | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2012 | $ | 2,481 | $ | 3,712 | $ | 6,163 | $ | 608 | $ | 111 | $ | 13,075 | |||||||||||||||||
Charge-offs | (2,962 | ) | (260 | ) | (1,070 | ) | (37 | ) | (163 | ) | (4,492 | ) | |||||||||||||||||
Recoveries | — | 823 | 1,304 | 179 | 180 | 2,486 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | 3,191 | (1,300 | ) | (1,979 | ) | (308 | ) | (29 | ) | (425 | ) | ||||||||||||||||||
Ending Balance, December 31, 2013 | $ | 2,710 | $ | 2,975 | $ | 4,418 | $ | 442 | $ | 99 | $ | 10,644 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 882 | 190 | 263 | 44 | — | 1,379 | |||||||||||||||||||||||
Collectively evaluated for impairment | 1,828 | 2,785 | 4,155 | 398 | 99 | 9,265 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 34,060 | 141,961 | 145,968 | 22,803 | 12,301 | 357,093 | |||||||||||||||||||||||
Individually evaluated for impairment | 6,862 | 3,431 | 11,143 | 258 | — | 21,694 | |||||||||||||||||||||||
Collectively evaluated for impairment | 27,198 | 138,530 | 134,825 | 22,545 | 12,301 | 335,399 | |||||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||||||
Construction | Secured by | Other Real | Commercial | Consumer | Total | ||||||||||||||||||||||||
and Land | 1-4 Family | Estate | and | and Other | |||||||||||||||||||||||||
Development | Residential | Industrial | Loans | ||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, December 31, 2012 | $ | 2,481 | $ | 3,712 | $ | 6,163 | $ | 608 | $ | 111 | $ | 13,075 | |||||||||||||||||
Charge-offs | (2,308 | ) | (172 | ) | (798 | ) | — | (67 | ) | (3,345 | ) | ||||||||||||||||||
Recoveries | — | 6 | 206 | 176 | 110 | 498 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | 3,097 | 179 | (561 | ) | (399 | ) | (66 | ) | 2,250 | ||||||||||||||||||||
Ending Balance, June 30, 2013 | $ | 3,270 | $ | 3,725 | $ | 5,010 | $ | 385 | $ | 88 | $ | 12,478 | |||||||||||||||||
Ending Balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | 747 | 195 | 161 | 19 | — | 1,122 | |||||||||||||||||||||||
Collectively evaluated for impairment | 2,523 | 3,530 | 4,849 | 366 | 88 | 11,356 | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending Balance | 44,305 | 145,628 | 159,834 | 19,701 | 8,045 | 377,513 | |||||||||||||||||||||||
Individually evaluated for impairment | 3,595 | 1,940 | 5,219 | 90 | — | 10,844 | |||||||||||||||||||||||
Collectively evaluated for impairment | 40,710 | 143,688 | 154,615 | 19,611 | 8,045 | 366,669 | |||||||||||||||||||||||
Impaired Loans and Related Allowance | ' | ||||||||||||||||||||||||||||
Impaired loans and the related allowance at June 30, 2014, December 31, 2013 and June 30, 2013, were as follows (in thousands): | |||||||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 8,746 | $ | 4,022 | $ | 2,405 | $ | 6,427 | $ | 779 | $ | 6,607 | $ | 21 | |||||||||||||||
Secured by 1-4 family | 4,230 | 2,766 | 531 | 3,297 | 126 | 3,248 | 62 | ||||||||||||||||||||||
Other real estate loans | 10,501 | 7,347 | 2,647 | 9,994 | 911 | 10,998 | 125 | ||||||||||||||||||||||
Commercial and industrial | 170 | 11 | 153 | 164 | 57 | 185 | 1 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 23,647 | $ | 14,146 | $ | 5,736 | $ | 19,882 | $ | 1,873 | $ | 21,038 | $ | 209 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 9,086 | $ | 4,259 | $ | 2,603 | $ | 6,862 | $ | 882 | $ | 5,397 | $ | 204 | |||||||||||||||
Secured by 1-4 family | 4,341 | 2,515 | 916 | 3,431 | 190 | 2,864 | 146 | ||||||||||||||||||||||
Other real estate loans | 12,385 | 9,455 | 1,688 | 11,143 | 263 | 7,079 | 441 | ||||||||||||||||||||||
Commercial and industrial | 260 | 114 | 144 | 258 | 44 | 669 | 14 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 26,072 | $ | 16,343 | $ | 5,351 | $ | 21,694 | $ | 1,379 | $ | 16,009 | $ | 805 | |||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | Interest | |||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | Recorded | Income | |||||||||||||||||||||||
Balance | with No | with | Investment | Investment | Recognized | ||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
Construction and land development | $ | 6,245 | $ | 2,678 | $ | 917 | $ | 3,595 | $ | 747 | $ | 5,059 | $ | 20 | |||||||||||||||
Secured by 1-4 family | 2,864 | 856 | 1,084 | 1,940 | 195 | 3,047 | 14 | ||||||||||||||||||||||
Other real estate loans | 6,242 | 3,877 | 1,342 | 5,219 | 161 | 8,682 | 90 | ||||||||||||||||||||||
Commercial and industrial | 91 | — | 90 | 90 | 19 | 87 | 2 | ||||||||||||||||||||||
Consumer and other loans | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 15,442 | $ | 7,411 | $ | 3,433 | $ | 10,844 | $ | 1,122 | $ | 16,875 | $ | 126 | |||||||||||||||
Other_Real_Estate_Owned_OREO_T
Other Real Estate Owned (OREO) (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Summary of Changes in the Balance for OREO | ' | ||||||||||||
Changes in the balance for OREO are as follows (in thousands): | |||||||||||||
For the six | For the year | ||||||||||||
months ended | ended | ||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Balance at the beginning of year, gross | $ | 4,695 | $ | 7,764 | |||||||||
Transfers in | 139 | 2,036 | |||||||||||
Charge-offs | (163 | ) | (1,564 | ) | |||||||||
Sales proceeds | (1,021 | ) | (3,618 | ) | |||||||||
Gain on disposition | 160 | 80 | |||||||||||
Depreciation | (1 | ) | (3 | ) | |||||||||
Balance at the end of period, gross | $ | 3,809 | $ | 4,695 | |||||||||
Less: valuation allowance | (1,588 | ) | (1,665 | ) | |||||||||
Balance at the end of period, net | $ | 2,221 | $ | 3,030 | |||||||||
Summary of Changes in the Valuation Allowance | ' | ||||||||||||
Changes in the valuation allowance are as follows (in thousands): | |||||||||||||
For the six | For the year | ||||||||||||
months ended | ended | ||||||||||||
June 30, | June 30, | December 31, | |||||||||||
2014 | 2013 | 2013 | |||||||||||
Balance at beginning of year | $ | 1,665 | $ | 2,174 | $ | 2,174 | |||||||
Provision for losses | 86 | 448 | 1,055 | ||||||||||
Transfer in | — | 62 | — | ||||||||||
Charge-offs, net | (163 | ) | (601 | ) | (1,564 | ) | |||||||
Balance at end of period | $ | 1,588 | $ | 2,083 | $ | 1,665 | |||||||
Capital_Requirements_Tables
Capital Requirements (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Comparison of Capital of Company and Bank with Minimum Regulatory Guidelines | ' | ||||||||||||||||||||||||
A comparison of the capital of the Company and the Bank at June 30, 2014 and December 31, 2013 with the minimum regulatory guidelines were as follows (dollars in thousands): | |||||||||||||||||||||||||
Actual | Minimum Capital | Minimum | |||||||||||||||||||||||
Requirement | To Be Well | ||||||||||||||||||||||||
Capitalized Under | |||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 69,455 | 18.64 | % | $ | 29,803 | 8 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 64,302 | 17.28 | % | $ | 29,762 | 8 | % | $ | 37,202 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 64,732 | 17.38 | % | $ | 14,902 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 59,586 | 16.02 | % | $ | 14,881 | 4 | % | $ | 22,321 | 6 | % | |||||||||||||
Tier 1 Capital (to Average Assets): | |||||||||||||||||||||||||
Consolidated | $ | 64,732 | 12.22 | % | $ | 21,186 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 59,586 | 11.26 | % | $ | 21,171 | 4 | % | $ | 26,463 | 5 | % | |||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 66,437 | 18.21 | % | $ | 29,193 | 8 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 60,578 | 16.62 | % | $ | 29,160 | 8 | % | $ | 36,450 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets): | |||||||||||||||||||||||||
Consolidated | $ | 61,800 | 16.94 | % | $ | 14,597 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 55,947 | 15.35 | % | $ | 14,580 | 4 | % | $ | 21,870 | 6 | % | |||||||||||||
Tier 1 Capital (to Average Assets): | |||||||||||||||||||||||||
Consolidated | $ | 61,800 | 11.75 | % | $ | 21,047 | 4 | % | N/A | N/A | |||||||||||||||
First Bank | $ | 55,947 | 10.68 | % | $ | 20,948 | 4 | % | $ | 26,184 | 5 | % | |||||||||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Components of Net Periodic Benefit Cost | ' | ||||||||||||||||
Components of the net periodic benefit cost of the plan for the three and six months ended June 30, 2014 and 2013 were as follows (in thousands): | |||||||||||||||||
For the three months | For the six months | ||||||||||||||||
ended June 30, | ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 87 | $ | 118 | $ | 174 | $ | 236 | |||||||||
Interest cost | 67 | 70 | 134 | 140 | |||||||||||||
Expected return on plan assets | (79 | ) | (76 | ) | (158 | ) | (152 | ) | |||||||||
Amortization of net loss | — | 27 | — | 54 | |||||||||||||
Net periodic benefit cost | $ | 75 | $ | 139 | $ | 150 | $ | 278 | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Balances of Assets Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
The following tables present the balances of assets measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013 (in thousands). | |||||||||||||||||||||
Description | Balance as of | Fair Value Measurements at June 30, 2014 | |||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 87,066 | $ | — | $ | 87,066 | $ | — | |||||||||||||
Obligations of states and political subdivisions | 21,812 | — | 21,812 | — | |||||||||||||||||
Corporate equity securities | 6 | 6 | — | — | |||||||||||||||||
$ | 108,884 | $ | 6 | $ | 108,878 | $ | — | ||||||||||||||
Description | Balance as of | Fair Value Measurements at December 31, 2013 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | Quoted | Significant | Significant | ||||||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||
U.S. agency and mortgage-backed securities | $ | 84,897 | $ | — | $ | 84,897 | $ | — | |||||||||||||
Obligations of states and political subdivisions | 18,399 | — | 18,399 | — | |||||||||||||||||
Corporate equity securities | 5 | 5 | — | — | |||||||||||||||||
$ | 103,301 | $ | 5 | $ | 103,296 | $ | — | ||||||||||||||
Summary of Assets Measured at Fair Value on a Nonrecurring Basis | ' | ||||||||||||||||||||
The following tables summarize the Company’s assets that were measured at fair value on a nonrecurring basis during the periods (dollars in thousands): | |||||||||||||||||||||
Description | Balance as of | Fair Value Measurements at June 30, 2014 | |||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,863 | $ | — | $ | — | $ | 3,863 | |||||||||||||
Other real estate owned, net | 2,221 | — | — | 2,221 | |||||||||||||||||
Description | Balance as of | Fair Value Measurements at December 31, 2013 | |||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,972 | $ | — | $ | — | $ | 3,972 | |||||||||||||
Other real estate owned, net | 3,030 | — | — | 3,030 | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | ||||||||||||||||||||
Quantitative information about Level 3 Fair Value Measurements for June 30, 2014 | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Input | Range (Weighted-Average) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Impaired loans, net | $ | 3,863 | Property appraisals | Selling cost | 10% | ||||||||||||||||
Discount for lack of marketability and age of appraisal | 0-19% (5%) | ||||||||||||||||||||
Other real estate owned, net | $ | 2,221 | Property appraisals | Selling cost | 7% | ||||||||||||||||
Carrying Values and Estimated Fair Values of Company's Financial Instruments | ' | ||||||||||||||||||||
The carrying values and estimated fair values of the Company’s financial instruments at June 30, 2014 and December 31, 2013 are as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements at June 30, 2014 Using | |||||||||||||||||||||
Carrying | Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Amount | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | Level 3 | |||||||||||||||||||
Identical | Level 2 | ||||||||||||||||||||
Assets | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 19,322 | $ | 19,322 | $ | — | $ | — | $ | 19,322 | |||||||||||
Securities | 108,884 | 6 | 108,878 | — | 108,884 | ||||||||||||||||
Restricted securities | 1,636 | — | 1,636 | — | 1,636 | ||||||||||||||||
Loans, net | 357,484 | — | — | 365,034 | 365,034 | ||||||||||||||||
Bank owned life insurance | 11,141 | — | 11,141 | — | 11,141 | ||||||||||||||||
Accrued interest receivable | 1,258 | — | 1,258 | — | 1,258 | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | $ | 451,198 | $ | — | $ | 335,325 | $ | 116,179 | $ | 451,504 | |||||||||||
Other borrowings | 6,039 | — | — | 6,137 | 6,137 | ||||||||||||||||
Trust preferred capital notes | 9,279 | — | — | 10,351 | 10,351 | ||||||||||||||||
Accrued interest payable | 151 | — | 151 | — | 151 | ||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Carrying | Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Amount | Prices in | Other | Unobservable | ||||||||||||||||||
Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | Level 3 | |||||||||||||||||||
Identical | Level 2 | ||||||||||||||||||||
Assets | |||||||||||||||||||||
Level 1 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 31,508 | $ | 31,508 | $ | — | $ | — | $ | 31,508 | |||||||||||
Securities | 103,301 | 5 | 103,296 | — | 103,301 | ||||||||||||||||
Restricted securities | 1,804 | — | 1,804 | — | 1,804 | ||||||||||||||||
Loans, net | 346,449 | — | — | 353,874 | 353,874 | ||||||||||||||||
Bank owned life insurance | 10,978 | — | 10,978 | — | 10,978 | ||||||||||||||||
Accrued interest receivable | 1,302 | — | 1,302 | — | 1,302 | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | $ | 450,711 | $ | — | $ | 326,955 | $ | 124,422 | $ | 451,377 | |||||||||||
Other borrowings | 6,052 | — | — | 6,095 | 6,095 | ||||||||||||||||
Trust preferred capital notes | 9,279 | — | — | 9,399 | 9,399 | ||||||||||||||||
Accrued interest payable | 177 | — | 177 | — | 177 | ||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Schedule of Changes in Component of Accumulated Other Comprehensive Loss | ' | ||||||||||||
Changes in each component of accumulated other comprehensive loss were as follows (in thousands): | |||||||||||||
Net | Adjustments | Accumulated | |||||||||||
Unrealized | Related to | Other | |||||||||||
Gains (Losses) | Pension | Comprehensive | |||||||||||
on Securities | Benefits | Loss | |||||||||||
Balance at December 31, 2012 | $ | 1,770 | $ | (2,629 | ) | $ | (859 | ) | |||||
Unrealized holding losses (net of tax, $0) | (2,693 | ) | — | (2,693 | ) | ||||||||
Change during period | (2,693 | ) | — | (2,693 | ) | ||||||||
Balance at June 30, 2013 | $ | (923 | ) | $ | (2,629 | ) | $ | (3,552 | ) | ||||
Balance at December 31, 2013 | $ | (1,129 | ) | $ | (175 | ) | $ | (1,304 | ) | ||||
Unrealized holding gains (net of tax, $471) | 915 | — | 915 | ||||||||||
Reclassification adjustment (net of tax, $7) | (15 | ) | — | (15 | ) | ||||||||
Change during period | 900 | — | 900 | ||||||||||
Balance at June 30, 2014 | $ | (229 | ) | $ | (175 | ) | $ | (404 | ) | ||||
Reclassifications from Accumulated Other Comprehensive Loss | ' | ||||||||||||
The following tables present information related to reclassifications from accumulated other comprehensive loss for the three and six month periods ended June 30, 2014 and 2013 (in thousands): | |||||||||||||
Details About Accumulated Other Comprehensive Loss | Amount Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Accumulated Other | Statements of Income | ||||||||||||
Comprehensive Loss | |||||||||||||
For the three months | |||||||||||||
ended June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Securities available for sale: | |||||||||||||
Net securities gains reclassified into earnings | $ | (22 | ) | $ | — | Net gains on sale of securities available for sale | |||||||
Related income tax expense | 7 | — | Income tax expense | ||||||||||
Total reclassifications | $ | (15 | ) | $ | — | Net of tax | |||||||
Details About Accumulated Other Comprehensive Loss | Amount Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Accumulated Other | Statements of Income | ||||||||||||
Comprehensive Loss | |||||||||||||
For the six months | |||||||||||||
ended June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Securities available for sale: | |||||||||||||
Net securities gains reclassified into earnings | $ | (22 | ) | $ | — | Net gains on sale of securities available for sale | |||||||
Related income tax expense | 7 | — | Income tax expense | ||||||||||
Total reclassifications | $ | (15 | ) | $ | — | Net of tax | |||||||
Securities_Summary_of_Amortize
Securities - Summary of Amortized Costs and Fair Values of Securities Available for Sale (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $109,232 | $105,013 |
Gross Unrealized Gains | 1,340 | 1,024 |
Gross Unrealized (Losses) | -1,688 | -2,736 |
Fair Value | 108,884 | 103,301 |
U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 87,515 | 86,365 |
Gross Unrealized Gains | 961 | 670 |
Gross Unrealized (Losses) | -1,410 | -2,138 |
Fair Value | 87,066 | 84,897 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 21,716 | 18,647 |
Gross Unrealized Gains | 374 | 350 |
Gross Unrealized (Losses) | -278 | -598 |
Fair Value | 21,812 | 18,399 |
Corporate Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1 | 1 |
Gross Unrealized Gains | 5 | 4 |
Fair Value | $6 | $5 |
Securities_Summary_of_Investme
Securities - Summary of Investments in an Unrealized Loss Position that were Temporarily Impaired (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of investments in unrealized loss position that were temporarily impaired | ' | ' |
Less than 12 months - Fair Value | $19,497 | $56,975 |
12 months or more - Fair Value | 43,371 | 12,843 |
Total - Fair Value | 62,868 | 69,818 |
Summary of investments in unrealized loss position that were temporarily impaired, Unrealized (Loss) | ' | ' |
Less than 12 months - Unrealized (Loss) | -276 | -2,177 |
12 months or more - Unrealized (Loss) | -1,412 | -559 |
Total Unrealized (Loss) | -1,688 | -2,736 |
U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Summary of investments in unrealized loss position that were temporarily impaired | ' | ' |
Less than 12 months - Fair Value | 16,702 | 49,810 |
12 months or more - Fair Value | 36,372 | 10,180 |
Total - Fair Value | 53,074 | 59,990 |
Summary of investments in unrealized loss position that were temporarily impaired, Unrealized (Loss) | ' | ' |
Less than 12 months - Unrealized (Loss) | -255 | -1,755 |
12 months or more - Unrealized (Loss) | -1,155 | -383 |
Total Unrealized (Loss) | -1,410 | -2,138 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Summary of investments in unrealized loss position that were temporarily impaired | ' | ' |
Less than 12 months - Fair Value | 2,795 | 7,165 |
12 months or more - Fair Value | 6,999 | 2,663 |
Total - Fair Value | 9,794 | 9,828 |
Summary of investments in unrealized loss position that were temporarily impaired, Unrealized (Loss) | ' | ' |
Less than 12 months - Unrealized (Loss) | -21 | -422 |
12 months or more - Unrealized (Loss) | -257 | -176 |
Total Unrealized (Loss) | ($278) | ($598) |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Obligation | Obligation | |
Securities | Securities | |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Number of U.S. agency and mortgage-backed securities | 33 | 40 |
Number of obligations of state and political subdivisions in an unrealized loss position | 18 | 21 |
Percentage of investment portfolio | 100.00% | 100.00% |
Weighted-average period of re-pricing of portfolio | '4 years 2 months 12 days | '4 years 6 months |
Impairment recognized | $0 | ' |
Securities_Composition_of_Rest
Securities - Composition of Restricted Securities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank Stock And Federal Reserve Bank Stock [Abstract] | ' | ' |
Federal Home Loan Bank stock | $740 | $908 |
Federal Reserve Bank stock | 846 | 846 |
Community Bankers' Bank stock | 50 | 50 |
Total Restricted Securities | $1,636 | $1,804 |
Loans_Summary_of_Loans_Detail
Loans - Summary of Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Real estate loans: | ' | ' | ' | ' |
Commercial and industrial loans | $24,797 | $22,803 | ' | ' |
Consumer and other loans | 12,372 | 12,301 | ' | ' |
Total loans | 367,490 | 357,093 | 377,513 | ' |
Allowance for loan losses | -10,006 | -10,644 | -12,478 | -13,075 |
Loans, net | 357,484 | 346,449 | ' | ' |
Construction and Land Development [Member] | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Real estate loans | 32,795 | 34,060 | ' | ' |
Total loans | 32,795 | 34,060 | 44,305 | ' |
Allowance for loan losses | -2,114 | -2,710 | -3,270 | -2,481 |
Secured by 1-4 Family Residential [Member] | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Real estate loans | 151,043 | 141,961 | ' | ' |
Total loans | 151,043 | 141,961 | 145,628 | ' |
Allowance for loan losses | -2,896 | -2,975 | -3,725 | -3,712 |
Other Real Estate Loans [Member] | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Real estate loans | 146,483 | 145,968 | ' | ' |
Total loans | $146,483 | $145,968 | ' | ' |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Net deferred loan fees | $79 | $18 | ' |
Total loans | 367,490 | 357,093 | 377,513 |
Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 12,372 | 12,301 | 8,045 |
Consumer and Other Loans [Member] | Demand Deposit Overdrafts [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $229 | $279 | ' |
Loans_Summary_of_Loan_Classes_
Loans - Summary of Loan Classes and an Aging of Past Due Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | $4,623 | $3,005 | ' |
60-89 Days Past Due | 1,018 | 4,809 | ' |
> 90 Days Past Due | 5,159 | 3,571 | ' |
Total Past Due | 10,800 | 11,385 | ' |
Current | 356,690 | 345,708 | ' |
Total Loans | 367,490 | 357,093 | 377,513 |
Non-accrual Loans | 11,221 | 11,678 | ' |
90 Days or More Past Due and Accruing | 325 | 49 | ' |
Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 2,277 | 161 | ' |
60-89 Days Past Due | 72 | 2,852 | ' |
> 90 Days Past Due | 3,454 | 3,339 | ' |
Total Past Due | 5,803 | 6,352 | ' |
Current | 26,992 | 27,708 | ' |
Total Loans | 32,795 | 34,060 | 44,305 |
Non-accrual Loans | 5,451 | 5,811 | ' |
90 Days or More Past Due and Accruing | 167 | ' | ' |
Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,417 | 1,561 | ' |
60-89 Days Past Due | 650 | 316 | ' |
> 90 Days Past Due | 378 | 136 | ' |
Total Past Due | 2,445 | 2,013 | ' |
Current | 148,598 | 139,948 | ' |
Total Loans | 151,043 | 141,961 | 145,628 |
Non-accrual Loans | 1,025 | 953 | ' |
90 Days or More Past Due and Accruing | 158 | 27 | ' |
Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 590 | 1,077 | ' |
60-89 Days Past Due | 277 | 1,636 | ' |
> 90 Days Past Due | 1,327 | 74 | ' |
Total Past Due | 2,194 | 2,787 | ' |
Current | 144,289 | 143,181 | ' |
Total Loans | 146,483 | 145,968 | ' |
Non-accrual Loans | 4,592 | 4,756 | ' |
90 Days or More Past Due and Accruing | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 329 | 165 | ' |
60-89 Days Past Due | 19 | ' | ' |
> 90 Days Past Due | ' | 22 | ' |
Total Past Due | 348 | 187 | ' |
Current | 24,449 | 22,616 | ' |
Total Loans | 24,797 | 22,803 | 19,701 |
Non-accrual Loans | 153 | 144 | ' |
90 Days or More Past Due and Accruing | ' | 22 | ' |
Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 10 | 41 | ' |
60-89 Days Past Due | ' | 5 | ' |
> 90 Days Past Due | ' | ' | ' |
Total Past Due | 10 | 46 | ' |
Current | 12,362 | 12,255 | ' |
Total Loans | 12,372 | 12,301 | 8,045 |
Non-accrual Loans | ' | 14 | ' |
90 Days or More Past Due and Accruing | ' | ' | ' |
Loans_Analysis_of_the_Credit_R
Loans - Analysis of the Credit Risk Profile of Each Loan Class (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | $367,490 | $357,093 | $377,513 |
Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 32,795 | 34,060 | 44,305 |
Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 151,043 | 141,961 | 145,628 |
Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 146,483 | 145,968 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 24,797 | 22,803 | 19,701 |
Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12,372 | 12,301 | 8,045 |
Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 316,184 | 302,285 | ' |
Pass [Member] | Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 20,402 | 19,724 | ' |
Pass [Member] | Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 138,380 | 130,048 | ' |
Pass [Member] | Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 120,964 | 118,663 | ' |
Pass [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 24,066 | 21,563 | ' |
Pass [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12,372 | 12,287 | ' |
Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 19,807 | 19,660 | ' |
Special Mention [Member] | Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 2,939 | 3,500 | ' |
Special Mention [Member] | Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 6,406 | 5,378 | ' |
Special Mention [Member] | Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 10,216 | 10,227 | ' |
Special Mention [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 246 | 555 | ' |
Special Mention [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 31,499 | 35,148 | ' |
Substandard [Member] | Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 9,454 | 10,836 | ' |
Substandard [Member] | Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 6,257 | 6,535 | ' |
Substandard [Member] | Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 15,303 | 17,078 | ' |
Substandard [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 485 | 685 | ' |
Substandard [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | 14 | ' |
Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Doubtful [Member] | Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Doubtful [Member] | Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Doubtful [Member] | Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Doubtful [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Doubtful [Member] | Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | ' | ' | ' |
Allowance_for_Loan_Losses_Tran
Allowance for Loan Losses - Transactions in Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Receivables [Abstract] | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | $10,644 | $13,075 | $13,075 |
Provision charged to (recovery from) operating expense | -400 | 2,500 | -600 | 2,250 | -425 |
Loan recoveries | ' | ' | 507 | 498 | 2,486 |
Loan charge-offs | ' | ' | -545 | -3,345 | -4,492 |
Balance at end of period | $10,006 | $12,478 | $10,006 | $12,478 | $10,644 |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses - Allowance by Impairment Methodology and Loans by Impairment Methodology (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | $10,644 | $13,075 | $13,075 |
Charge-offs | ' | ' | -545 | -3,345 | -4,492 |
Recoveries | ' | ' | 507 | 498 | 2,486 |
Provision for (recovery of) loan losses | -400 | 2,500 | -600 | 2,250 | -425 |
Balance at end of period | 10,006 | 12,478 | 10,006 | 12,478 | 10,644 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | 1,873 | 1,122 | 1,873 | 1,122 | 1,379 |
Allowance for loan losses, Collectively evaluated for impairment | 8,133 | 11,356 | 8,133 | 11,356 | 9,265 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 367,490 | 377,513 | 367,490 | 377,513 | 357,093 |
Loans, Individually evaluated for impairment | 19,882 | 10,844 | 19,882 | 10,844 | 21,694 |
Loans, Collectively evaluated for impairment | 347,608 | 366,669 | 347,608 | 366,669 | 335,399 |
Construction and Land Development [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 2,710 | 2,481 | 2,481 |
Charge-offs | ' | ' | ' | -2,308 | -2,962 |
Recoveries | ' | ' | 40 | ' | ' |
Provision for (recovery of) loan losses | ' | ' | -636 | 3,097 | 3,191 |
Balance at end of period | 2,114 | 3,270 | 2,114 | 3,270 | 2,710 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | 779 | 747 | 779 | 747 | 882 |
Allowance for loan losses, Collectively evaluated for impairment | 1,335 | 2,523 | 1,335 | 2,523 | 1,828 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 32,795 | 44,305 | 32,795 | 44,305 | 34,060 |
Loans, Individually evaluated for impairment | 6,427 | 3,595 | 6,427 | 3,595 | 6,862 |
Loans, Collectively evaluated for impairment | 26,368 | 40,710 | 26,368 | 40,710 | 27,198 |
Secured by 1-4 Family Residential [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 2,975 | 3,712 | 3,712 |
Charge-offs | ' | ' | -104 | -172 | -260 |
Recoveries | ' | ' | 7 | 6 | 823 |
Provision for (recovery of) loan losses | ' | ' | 18 | 179 | -1,300 |
Balance at end of period | 2,896 | 3,725 | 2,896 | 3,725 | 2,975 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | 126 | 195 | 126 | 195 | 190 |
Allowance for loan losses, Collectively evaluated for impairment | 2,770 | 3,530 | 2,770 | 3,530 | 2,785 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 151,043 | 145,628 | 151,043 | 145,628 | 141,961 |
Loans, Individually evaluated for impairment | 3,297 | 1,940 | 3,297 | 1,940 | 3,431 |
Loans, Collectively evaluated for impairment | 147,746 | 143,688 | 147,746 | 143,688 | 138,530 |
Other Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 4,418 | 6,163 | 6,163 |
Charge-offs | ' | ' | -203 | -798 | -1,070 |
Recoveries | ' | ' | 339 | 206 | 1,304 |
Provision for (recovery of) loan losses | ' | ' | -167 | -561 | -1,979 |
Balance at end of period | 4,387 | 5,010 | 4,387 | 5,010 | 4,418 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | 911 | 161 | 911 | 161 | 263 |
Allowance for loan losses, Collectively evaluated for impairment | 3,476 | 4,849 | 3,476 | 4,849 | 4,155 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 146,483 | 159,834 | 146,483 | 159,834 | 145,968 |
Loans, Individually evaluated for impairment | 9,994 | 5,219 | 9,994 | 5,219 | 11,143 |
Loans, Collectively evaluated for impairment | 136,489 | 154,615 | 136,489 | 154,615 | 134,825 |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 442 | 608 | 608 |
Charge-offs | ' | ' | -36 | ' | -37 |
Recoveries | ' | ' | 3 | 176 | 179 |
Provision for (recovery of) loan losses | ' | ' | 65 | -399 | -308 |
Balance at end of period | 474 | 385 | 474 | 385 | 442 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | 57 | 19 | 57 | 19 | 44 |
Allowance for loan losses, Collectively evaluated for impairment | 417 | 366 | 417 | 366 | 398 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 24,797 | 19,701 | 24,797 | 19,701 | 22,803 |
Loans, Individually evaluated for impairment | 164 | 90 | 164 | 90 | 258 |
Loans, Collectively evaluated for impairment | 24,633 | 19,611 | 24,633 | 19,611 | 22,545 |
Consumer and Other Loans [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | 99 | 111 | 111 |
Charge-offs | ' | ' | -202 | -67 | -163 |
Recoveries | ' | ' | 118 | 110 | 180 |
Provision for (recovery of) loan losses | ' | ' | 120 | -66 | -29 |
Balance at end of period | 135 | 88 | 135 | 88 | 99 |
Ending Balance: | ' | ' | ' | ' | ' |
Allowance for loan losses, Individually evaluated for impairment | ' | ' | ' | ' | ' |
Allowance for loan losses, Collectively evaluated for impairment | 135 | 88 | 135 | 88 | 99 |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 12,372 | 8,045 | 12,372 | 8,045 | 12,301 |
Loans, Individually evaluated for impairment | ' | ' | ' | ' | ' |
Loans, Collectively evaluated for impairment | $12,372 | $8,045 | $12,372 | $8,045 | $12,301 |
Allowance_for_Loan_losses_Impa
Allowance for Loan losses - Impaired Loans and Related Allowance (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | $23,647 | $15,442 | $26,072 |
Recorded Investment with No Allowance | 14,146 | 7,411 | 16,343 |
Recorded Investment with Allowance | 5,736 | 3,433 | 5,351 |
Total Recorded Investment | 19,882 | 10,844 | 21,694 |
Related Allowance | 1,873 | 1,122 | 1,379 |
Average Recorded Investment | 21,038 | 16,875 | 16,009 |
Interest Income Recognized | 209 | 126 | 805 |
Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 8,746 | 6,245 | 9,086 |
Recorded Investment with No Allowance | 4,022 | 2,678 | 4,259 |
Recorded Investment with Allowance | 2,405 | 917 | 2,603 |
Total Recorded Investment | 6,427 | 3,595 | 6,862 |
Related Allowance | 779 | 747 | 882 |
Average Recorded Investment | 6,607 | 5,059 | 5,397 |
Interest Income Recognized | 21 | 20 | 204 |
Secured by 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 4,230 | 2,864 | 4,341 |
Recorded Investment with No Allowance | 2,766 | 856 | 2,515 |
Recorded Investment with Allowance | 531 | 1,084 | 916 |
Total Recorded Investment | 3,297 | 1,940 | 3,431 |
Related Allowance | 126 | 195 | 190 |
Average Recorded Investment | 3,248 | 3,047 | 2,864 |
Interest Income Recognized | 62 | 14 | 146 |
Other Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 10,501 | 6,242 | 12,385 |
Recorded Investment with No Allowance | 7,347 | 3,877 | 9,455 |
Recorded Investment with Allowance | 2,647 | 1,342 | 1,688 |
Total Recorded Investment | 9,994 | 5,219 | 11,143 |
Related Allowance | 911 | 161 | 263 |
Average Recorded Investment | 10,998 | 8,682 | 7,079 |
Interest Income Recognized | 125 | 90 | 441 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 170 | 91 | 260 |
Recorded Investment with No Allowance | 11 | ' | 114 |
Recorded Investment with Allowance | 153 | 90 | 144 |
Total Recorded Investment | 164 | 90 | 258 |
Related Allowance | 57 | 19 | 44 |
Average Recorded Investment | 185 | 87 | 669 |
Interest Income Recognized | 1 | 2 | 14 |
Consumer and Other Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | ' | ' | ' |
Recorded Investment with No Allowance | ' | ' | ' |
Recorded Investment with Allowance | ' | ' | ' |
Total Recorded Investment | ' | ' | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | ' | ' | ' |
Interest Income Recognized | ' | ' | ' |
Allowance_for_Loan_Losses_Addi
Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Contract | Contract | Contract | Contract | ||
Receivables [Abstract] | ' | ' | ' | ' | ' |
Troubled debt restructurings (TDRs) | $2,000,000 | ' | $2,000,000 | ' | $1,900,000 |
TDRs performing under the restructured terms | 978,000 | 829,000 | 978,000 | 829,000 | ' |
Pre-modification recorded investment totaled | ' | ' | 283,000 | ' | ' |
Post-modification recorded investment totaled | ' | ' | 344,000 | ' | ' |
Loans modified under TDRs | 0 | 0 | 1 | 0 | ' |
Troubled debt restructuring loan subsequent default | $0 | $0 | $0 | $0 | ' |
Troubled debt restructuring loan subsequent default period | ' | ' | '90 days | ' | ' |
Other_Real_Estate_Owned_OREO_A
Other Real Estate Owned (OREO) - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Real Estate [Abstract] | ' | ' | ' |
Total other real estate owned | $2,221 | ' | $3,030 |
Net expenses applicable to other real estate owned | $35 | $99 | $150 |
Other_Real_Estate_Owned_OREO_S
Other Real Estate Owned (OREO) - Summary of Changes in the Balance for OREO (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Real Estate [Abstract] | ' | ' | ' |
Balance at the beginning of year, gross | $4,695 | $7,764 | $7,764 |
Transfers in | 139 | ' | 2,036 |
Charge-offs | -163 | -601 | -1,564 |
Sales proceeds | -1,021 | ' | -3,618 |
Gain on disposition | 160 | ' | 80 |
Depreciation | -1 | ' | -3 |
Balance at the end of period, gross | 3,809 | ' | 4,695 |
Less: valuation allowance | -1,588 | ' | -1,665 |
Balance at the end of period, net | $2,221 | ' | $3,030 |
Other_Real_Estate_Owned_OREO_S1
Other Real Estate Owned (OREO) - Summary of Changes in the Valuation Allowance (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Real Estate [Abstract] | ' | ' | ' |
Balance at beginning of year | $1,665 | $2,174 | $2,174 |
Provision for losses | 86 | 448 | 1,055 |
Transfer in | ' | 62 | ' |
Charge-offs, net | -163 | -601 | -1,564 |
Balance at end of period | $1,588 | $2,083 | $1,665 |
Other_Borrowings_Additional_In
Other Borrowings - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Unused lines of credit | $103,400,000 | $108,400,000 |
Blanket floating lien agreement | 19.00% | ' |
Borrowings of Bank | 6,000,000 | 6,000,000 |
Borrowings of Bank, maturity date | 28-Dec-18 | ' |
Weighted average rate | 1.91% | 1.91% |
Collateral pledged on borrowings including real estate loans | 66,900,000 | 78,600,000 |
FHLB stock book value | 740,000 | 908,000 |
Note payable monthly payments | 2,000 | ' |
Minimum [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate | 1.78% | 1.78% |
Maximum [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest rate | 2.04% | 2.04% |
Letter of Credit [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowings of Bank | 30,000,000 | 25,000,000 |
Notes Payable to Banks [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowings of Bank, maturity date | 3-Jan-16 | ' |
Interest rate | 4.00% | ' |
Borrowings of Bank | 39,000 | 52,000 |
FHLB [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Unused lines of credit | $63,700,000 | ' |
Capital_Requirements_Compariso
Capital Requirements - Comparison of Capital of Company and Bank with Minimum Regulatory Guidelines (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Amount Total Capital (to Risk Weighted Assets) | $69,455 | $66,437 |
Actual Ratio Total Capital (to Risk Weighted Assets) | 18.64% | 18.21% |
Minimum Capital Requirement Amount Total Capital (to Risk Weighted Assets) | 29,803 | 29,193 |
Minimum Capital Requirement Ratio Total Capital (to Risk Weighted Assets) | 8.00% | 8.00% |
Actual Amount Tier 1 Capital (to Risk Weighted Assets) | 64,732 | 61,800 |
Actual Ratio Tier 1 Capital (to Risk Weighted Assets) | 17.38% | 16.94% |
Minimum Capital Requirement Amount Tier 1 Capital (to Risk Weighted Assets) | 14,902 | 14,597 |
Minimum Capital Requirement Ratio Tier 1 Capital (to Risk Weighted Assets) | 4.00% | 4.00% |
Actual Amount Tier 1 Capital (to Average Assets) | 64,732 | 61,800 |
Actual Ratio Tier 1 Capital (to Average Assets) | 12.22% | 11.75% |
Minimum Capital Requirement Amount Tier 1 Capital (to Average Assets) | 21,186 | 21,047 |
Minimum Capital Requirement Ratio Tier 1 Capital (to Average Assets) | 4.00% | 4.00% |
First Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Amount Total Capital (to Risk Weighted Assets) | 64,302 | 60,578 |
Actual Ratio Total Capital (to Risk Weighted Assets) | 17.28% | 16.62% |
Minimum Capital Requirement Amount Total Capital (to Risk Weighted Assets) | 29,762 | 29,160 |
Minimum Capital Requirement Ratio Total Capital (to Risk Weighted Assets) | 8.00% | 8.00% |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Total Capital (to Risk Weighted Assets) | 37,202 | 36,450 |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio Total Capital (to Risk Weighted Assets) | 10.00% | 10.00% |
Actual Amount Tier 1 Capital (to Risk Weighted Assets) | 59,586 | 55,947 |
Actual Ratio Tier 1 Capital (to Risk Weighted Assets) | 16.02% | 15.35% |
Minimum Capital Requirement Amount Tier 1 Capital (to Risk Weighted Assets) | 14,881 | 14,580 |
Minimum Capital Requirement Ratio Tier 1 Capital (to Risk Weighted Assets) | 4.00% | 4.00% |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Tier 1 Capital (to Risk Weighted Assets) | 22,321 | 21,870 |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio Tier 1 Capital (to Risk Weighted Assets) | 6.00% | 6.00% |
Actual Amount Tier 1 Capital (to Average Assets) | 59,586 | 55,947 |
Actual Ratio Tier 1 Capital (to Average Assets) | 11.26% | 10.68% |
Minimum Capital Requirement Amount Tier 1 Capital (to Average Assets) | 21,171 | 20,948 |
Minimum Capital Requirement Ratio Tier 1 Capital (to Average Assets) | 4.00% | 4.00% |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Tier 1 Capital (to Average Assets) | $26,463 | $26,184 |
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio Tier 1 Capital (to Average Assets) | 5.00% | 5.00% |
Trust_Preferred_Capital_Notes_
Trust Preferred Capital Notes - Additional Information (Detail) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
First National (VA) Statutory Trust II [Member] | ' | ' |
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ' | ' |
Formation of wholly-owned subsidiary | 8-Jun-04 | ' |
Preferred securities issued through pooled underwriting date | 17-Jun-04 | ' |
Issuance of trust preferred securities | $5 | ' |
LIBOR-indexed floating rate of interest | 2.83% | 2.84% |
Junior subordinated debt securities | 5.2 | ' |
Securities mandatory redemption date | 17-Jun-34 | ' |
First National (VA) Statutory Trust III [Member] | ' | ' |
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ' | ' |
Formation of wholly-owned subsidiary | 24-Jul-06 | ' |
Preferred securities issued through pooled underwriting date | 31-Jul-06 | ' |
Issuance of trust preferred securities | 4 | ' |
LIBOR-indexed floating rate of interest | 1.83% | 1.85% |
Junior subordinated debt securities | $4.10 | ' |
Securities mandatory redemption date | 1-Oct-36 | ' |
Maximum capital required for capital adequacy | 25.00% | ' |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ' |
Number of highest-paid consecutive years for benefits | '5 years |
Defined Benefit Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Minimum eligibility for full-time employees, age | '21 years |
Period of service credit by employee | '1 year |
Amount contributed to pension plan, Expected in future | 0 |
Amount contributed to pension plan | 0 |
Benefit_Plans_Components_of_Ne
Benefit Plans - Components of Net Periodic Benefit Cost (Detail) (Defined Benefit Pension Plan [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Defined Benefit Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $87 | $118 | $174 | $236 |
Interest cost | 67 | 70 | 134 | 140 |
Expected return on plan assets | -79 | -76 | -158 | -152 |
Amortization of net loss | ' | 27 | ' | 54 |
Net periodic benefit cost | $75 | $139 | $150 | $278 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Potential common shares that would have a dilutive effect | ' | ' | 0 | ' |
Average number of common shares outstanding basic and diluted | 4,901,599 | 4,901,464 | 4,901,532 | 4,901,464 |
Fair_Value_Measurements_Balanc
Fair Value Measurements - Balances of Assets Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | $108,884 | $103,301 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 108,884 | 103,301 |
Fair Value, Measurements, Recurring [Member] | U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 87,066 | 84,897 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 21,812 | 18,399 |
Fair Value, Measurements, Recurring [Member] | Corporate Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 6 | 5 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 6 | 5 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 6 | 5 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 108,878 | 103,296 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 87,066 | 84,897 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | 21,812 | 18,399 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Agency and Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale Securities, Fair Value | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Period of maturity as classifies as short-term borrowings | '90 days | ' |
Fair value of loan commitments and standby letters of credit | $0 | $0 |
Maximum [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Period under consideration for valuation of real estate collateral | '12 months | ' |
Period under consideration for valuation of business equipment | '1 year | ' |
Minimum [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Period under consideration for valuation of house or building in the process of construction | '1 year | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Assets Measured at Fair Value on a Nonrecurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Other real estate owned, net | $2,221 | $3,030 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets | ' | ' |
Impaired loans, net | 3,863 | 3,972 |
Other real estate owned, net | 2,221 | 3,030 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets | ' | ' |
Impaired loans, net | ' | ' |
Other real estate owned, net | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets | ' | ' |
Impaired loans, net | ' | ' |
Other real estate owned, net | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets | ' | ' |
Impaired loans, net | 3,863 | 3,972 |
Other real estate owned, net | $2,221 | $3,030 |
Fair_Value_Measurements_Quanti
Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Detail) (Fair Value, Measurements, Nonrecurring [Member], Significant Unobservable Inputs (Level 3) [Member], USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Weighted-Average discount for lack of marketability | 5.00% |
Impaired Loans Asset, Net [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair value assets | 3,863 |
Fair Value Measurements, Valuation Techniques | 'Property appraisals |
Selling cost | 10.00% |
Other Real Estate Owned, Net [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair value assets | 2,221 |
Fair Value Measurements, Valuation Techniques | 'Property appraisals |
Selling cost | 7.00% |
Minimum [Member] | Impaired Loans Assets, Net [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair Value Inputs, Discount for lack of marketability | 0.00% |
Maximum [Member] | Impaired Loans Assets, Net [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair Value Inputs, Discount for lack of marketability | 19.00% |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Values and Estimated Fair Values of Company's Financial Instruments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Securities | $108,884 | $103,301 |
Restricted securities | 1,636 | 1,804 |
Bank owned life insurance | 11,141 | 10,978 |
Accrued interest receivable | 1,258 | 1,302 |
Carrying Amount [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and short-term investments | 19,322 | 31,508 |
Securities | 108,884 | 103,301 |
Restricted securities | 1,636 | 1,804 |
Loans, net | 357,484 | 346,449 |
Bank owned life insurance | 11,141 | 10,978 |
Accrued interest receivable | 1,258 | 1,302 |
Financial Liabilities | ' | ' |
Deposits | 451,198 | 450,711 |
Other borrowings | 6,039 | 6,052 |
Trust preferred capital notes | 9,279 | 9,279 |
Accrued interest payable | 151 | 177 |
Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and short-term investments | 19,322 | 31,508 |
Securities | 108,884 | 103,301 |
Restricted securities | 1,636 | 1,804 |
Loans, net | 365,034 | 353,874 |
Bank owned life insurance | 11,141 | 10,978 |
Accrued interest receivable | 1,258 | 1,302 |
Financial Liabilities | ' | ' |
Deposits | 451,504 | 451,377 |
Other borrowings | 6,137 | 6,095 |
Trust preferred capital notes | 10,351 | 9,399 |
Accrued interest payable | 151 | 177 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and short-term investments | 19,322 | 31,508 |
Securities | 6 | 5 |
Restricted securities | ' | ' |
Loans, net | ' | ' |
Bank owned life insurance | ' | ' |
Accrued interest receivable | ' | ' |
Financial Liabilities | ' | ' |
Deposits | ' | ' |
Other borrowings | ' | ' |
Trust preferred capital notes | ' | ' |
Accrued interest payable | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and short-term investments | ' | ' |
Securities | 108,878 | 103,296 |
Restricted securities | 1,636 | 1,804 |
Loans, net | ' | ' |
Bank owned life insurance | 11,141 | 10,978 |
Accrued interest receivable | 1,258 | 1,302 |
Financial Liabilities | ' | ' |
Deposits | 335,325 | 326,955 |
Other borrowings | ' | ' |
Trust preferred capital notes | ' | ' |
Accrued interest payable | 151 | 177 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and short-term investments | ' | ' |
Securities | ' | ' |
Restricted securities | ' | ' |
Loans, net | 365,034 | 353,874 |
Bank owned life insurance | ' | ' |
Accrued interest receivable | ' | ' |
Financial Liabilities | ' | ' |
Deposits | 116,179 | 124,422 |
Other borrowings | 6,137 | 6,095 |
Trust preferred capital notes | 10,351 | 9,399 |
Accrued interest payable | ' | ' |
Preferred_Stock_Additional_Inf
Preferred Stock - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Class of Stock [Line Items] | ' | ' |
Number of shares | 14,595 | 14,595 |
Liquidation preference | $1,000 | $1,000 |
Discount on preferred stock amortized period | '5 years | ' |
Fixed Rate Cumulative Perpetual Preferred Stock, Series A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Number of shares | 13,900 | ' |
Par value | $1.25 | ' |
Liquidation preference | $1,000 | ' |
Fixed Rate Cumulative Perpetual Preferred Stock, Series B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Par value | $1.25 | ' |
Liquidation preference | $1,000 | ' |
Number of shares | 695 | ' |
Cumulative dividends of warrant preferred stock | 9.00% | ' |
Purchase Agreement [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Cumulative dividends percentage until May 14, 2014 | 5.00% | ' |
Cumulative dividend thereafter | 9.00% | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Schedule of Changes in Component of Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2012 |
Securities Available for Sale [Member] | Securities Available for Sale [Member] | Adjustments Related to Pension Benefits [Member] | Adjustments Related to Pension Benefits [Member] | Adjustments Related to Pension Benefits [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss, Beginning Balance | ' | ' | ($1,304) | ($859) | ($1,129) | $1,770 | ($175) | ($2,629) | ($2,629) |
Unrealized holding gains (losses), net of tax | 465 | -2,561 | 915 | -2,693 | 915 | -2,693 | ' | ' | ' |
Reclassification adjustment, net of tax | -15 | ' | -15 | ' | -15 | ' | ' | ' | ' |
Change during period | 450 | -2,561 | 900 | -2,693 | 900 | -2,693 | ' | ' | ' |
Accumulated other comprehensive loss, Ending Balance | ($404) | ($3,552) | ($404) | ($3,552) | ($229) | ($923) | ($175) | ($2,629) | ($2,629) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Schedule of Changes in Component of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Unrealized holding (gains) losses, tax | $239 | $0 | $471 | $0 |
Reclassification adjustment, tax | ($7) | $0 | ($7) | $0 |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Loss - Reclassifications from Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Income tax expense | ($674) | $830 | ($1,157) | $559 |
Net income | 1,542 | 261 | 2,688 | 1,244 |
Amount Reclassified from Accumulated Other Comprehensive Loss [Member] | Securities Available for Sale [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net gains on sale of securities available for sale | -22 | ' | -22 | ' |
Income tax expense | 7 | ' | 7 | ' |
Net income | ($15) | ' | ($15) | ' |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (USD $) | 6 Months Ended | 0 Months Ended | |
Jun. 30, 2014 | Aug. 13, 2014 | Aug. 13, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ' | ' | ' |
Dividend declared amount | ' | ' | $0.03 |
Dividend declared date | 13-Aug-14 | ' | ' |
Dividend record date | ' | 5-Sep-14 | ' |
Dividend payable date | ' | 19-Sep-14 | ' |