Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 1-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'HVB | ' |
Entity Registrant Name | 'HUDSON VALLEY HOLDING CORP | ' |
Entity Central Index Key | '0000722256 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 19,985,596 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest Income: | ' | ' |
Loans, including fees | $19,538 | $19,259 |
Securities: | ' | ' |
Taxable | 2,318 | 2,195 |
Exempt from Federal income taxes | 630 | 768 |
Federal funds sold | 8 | 11 |
Deposits in banks | 341 | 448 |
Total interest income | 22,835 | 22,681 |
Interest Expense: | ' | ' |
Deposits | 1,090 | 1,247 |
Securities sold under repurchase agreements and other short-term borrowings | 6 | 9 |
Other borrowings | 10 | 179 |
Total interest expense | 1,106 | 1,435 |
Net Interest Income | 21,729 | 21,246 |
Provision for loan losses | 78 | 772 |
Net interest income after provision for loan losses | 21,651 | 20,474 |
Non-Interest Income: | ' | ' |
Service charges | 1,783 | 1,739 |
Investment advisory fees | 1,927 | 1,933 |
Realized gains on securities available for sale, net | 26 | ' |
Gain on sales of other real estate owned | ' | 17 |
Prepayment penalty-FHLB Borrowings | -1,860 | ' |
Other income | 603 | 828 |
Total non-interest income | 2,479 | 4,517 |
Non-Interest Expense: | ' | ' |
Salaries and employee benefits | 13,039 | 11,282 |
Occupancy | 2,019 | 2,109 |
Professional services | 1,693 | 1,505 |
Equipment | 998 | 1,056 |
Business development | 671 | 452 |
FDIC assessment | 606 | 944 |
Other operating expenses | 2,764 | 2,263 |
Total non-interest expense | 21,790 | 19,611 |
Income before income taxes | 2,340 | 5,380 |
Income taxes | 738 | 1,729 |
Net Income | $1,602 | $3,651 |
Basic earnings per common share | $0.08 | $0.18 |
Diluted earnings per common share | $0.08 | $0.18 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net Income | $1,602 | $3,651 |
Other-than-temporarily impaired securities available for sale: | ' | ' |
Total gains | ' | 196 |
Losses recognized in earnings | ' | ' |
Gains recognized in comprehensive income | ' | 196 |
Income tax effect | ' | -80 |
Unrealized holding gains on other-than-temporarily impaired securities available for sale, net of tax | ' | 116 |
Securities available for sale not other-than-temporarily impaired: | ' | ' |
Gains (losses) arising during the period | 3,884 | -1,543 |
Income tax effect | -1,501 | 594 |
Securities available for sale not other-than-temporarily impaired, net of tax | 2,383 | -949 |
Gains recognized in earnings | -26 | ' |
Income tax effect | 10 | ' |
Total securities available for sale not other-than-temporarily impaired | -16 | ' |
Unrealized holding gains (losses) on securities available for sale not other-than-temporarily-impaired, net of tax | 2,367 | -949 |
Unrealized holding gains (losses) on securities, net | 2,367 | -833 |
Accrued benefit liability adjustment: | ' | ' |
Net gain during the period | ' | ' |
Reclassification adjustment for amortization of prior service cost and net gain/loss included in net period pension cost | 188 | 155 |
Income tax effect | -75 | -62 |
Net of tax | 113 | 93 |
Other comprehensive income (loss) | 2,480 | -740 |
Comprehensive Income | $4,082 | $2,911 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and non-interest earning due from banks | $48,130 | $37,711 |
Interest earning deposits in banks | 552,729 | 661,643 |
Total cash and cash equivalents | 600,859 | 699,354 |
Federal funds sold | 18,866 | 27,134 |
Securities available for sale, at estimated fair value (amortized cost of $537,070 in 2014 and $550,785 in 2013) | 532,341 | 542,198 |
Securities held to maturity, at amortized cost (estimated fair value of $6,236 in 2014 and $6,556 in 2013) | 5,951 | 6,238 |
Federal Home Loan Bank of New York (FHLB) stock | 2,740 | 3,478 |
Loans (net of allowance for loan losses of $26,904 in 2014 and $25,990 in 2013) | 1,632,795 | 1,606,179 |
Accrued interest and other receivables | 17,933 | 14,663 |
Premises and equipment, net | 14,736 | 15,103 |
Deferred income tax, net | 25,697 | 31,433 |
Bank owned life insurance | 41,855 | 41,224 |
Goodwill | 5,142 | 5,142 |
Other intangible assets | 665 | 713 |
Other assets | 6,621 | 6,340 |
Total Assets | 2,906,201 | 2,999,199 |
Deposits: | ' | ' |
Non-interest bearing | 970,733 | 1,069,631 |
Interest bearing | 1,591,285 | 1,564,113 |
Total deposits | 2,562,018 | 2,633,744 |
Securities sold under repurchase agreements and other short-term borrowings | 31,183 | 34,379 |
Other borrowings | ' | 16,388 |
Accrued interest and other liabilities | 25,447 | 30,379 |
Total Liabilities | 2,618,648 | 2,714,890 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred stock, $0.01 par value; 15,000,000 shares authorized; no shares outstanding in 2014 and 2013, respectively | ' | ' |
Common stock, $0.20 par value; 25,000,000 shares authorized; 20,032,431 and 19,935,559 shares outstanding in 2014 and 2013, respectively | 4,266 | 4,247 |
Additional paid-in capital | 351,448 | 351,108 |
Retained earnings (deficit) | -6,706 | -7,111 |
Accumulated other comprehensive loss | -3,891 | -6,371 |
Treasury stock, at cost; 1,299,414 shares in 2014 and 2013 | -57,564 | -57,564 |
Total Stockholders' Equity | 287,553 | 284,309 |
Total Liabilities and Stockholders' Equity | $2,906,201 | $2,999,199 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Amortized cost of securities available for sale at estimated fair value | $537,070 | $550,785 |
Fair value of securities held to maturity at amortized cost | 6,236 | 6,556 |
Allowances for loan losses | $26,904 | $25,990 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.20 | $0.20 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares outstanding | 20,032,431 | 19,935,559 |
Treasury stock, shares | 1,299,414 | 1,299,414 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings (Deficit) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data | ||||||
Beginning balance at Dec. 31, 2012 | $290,971 | $4,212 | ($57,564) | $348,643 | ($3,471) | ($849) |
Beginning balance, shares at Dec. 31, 2012 | ' | 19,761,426 | ' | ' | ' | ' |
Net Income | 3,651 | ' | ' | ' | 3,651 | ' |
Other comprehensive income (loss) | -740 | ' | ' | ' | ' | -740 |
Common stock issued for dividend reinvestment | 7 | ' | ' | 7 | ' | ' |
Common stock issued for dividend reinvestment, shares | ' | 440 | ' | ' | ' | ' |
Restricted stock awards and related expense | 192 | 24 | ' | 168 | ' | ' |
Restricted stock awards, shares and related expense | ' | 118,791 | ' | ' | ' | ' |
Cash dividends | -1,186 | ' | ' | ' | -1,186 | ' |
Ending balance at Mar. 31, 2013 | 292,895 | 4,236 | -57,564 | 348,818 | -1,006 | -1,589 |
Ending balance, shares at Mar. 31, 2013 | ' | 19,880,657 | ' | ' | ' | ' |
Beginning balance at Dec. 31, 2013 | 284,309 | 4,247 | -57,564 | 351,108 | -7,111 | -6,371 |
Beginning balance, shares at Dec. 31, 2013 | 19,935,559 | 19,935,559 | ' | ' | ' | ' |
Net Income | 1,602 | ' | ' | ' | 1,602 | ' |
Other comprehensive income (loss) | 2,480 | ' | ' | ' | ' | 2,480 |
Common stock issued for dividend reinvestment | 12 | ' | ' | 12 | ' | ' |
Common stock issued for dividend reinvestment, shares | ' | 678 | ' | ' | ' | ' |
Vesting and exercise of stock options, net of tax | 120 | 1 | ' | 119 | ' | ' |
Vesting and exercise of stock options, net of tax, shares | ' | 6,413 | ' | ' | ' | ' |
Restricted stock awards and related expense | 227 | 18 | ' | 209 | ' | ' |
Restricted stock awards, shares and related expense | ' | 89,781 | ' | ' | ' | ' |
Cash dividends | -1,197 | ' | ' | ' | -1,197 | ' |
Ending balance at Mar. 31, 2014 | $287,553 | $4,266 | ($57,564) | $351,448 | ($6,706) | ($3,891) |
Ending balance, shares at Mar. 31, 2014 | 20,032,431 | 20,032,431 | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Cash dividends per share | $0.06 | $0.06 |
Retained Earnings (Deficit) [Member] | ' | ' |
Cash dividends per share | $0.06 | $0.06 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities: | ' | ' |
Net Income | $1,602 | $3,651 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ' | ' |
Provision for loan losses | 78 | 772 |
Depreciation and amortization | 697 | 922 |
Amortization of premiums on securities, net | 427 | 537 |
Gain on sales of other real estate owned | ' | -17 |
Increase in cash value of bank owned life insurance | -441 | -346 |
Amortization of other intangible assets | 48 | 48 |
Share-based payment expense | 227 | 192 |
Recognized impairment charge on goodwill | ' | ' |
Deferred tax expense (benefit) | 4,170 | -137 |
Increase (decrease) in deferred loan fees, net | 350 | -224 |
(Increase) decrease in accrued interest and other receivables | -3,270 | 10,099 |
(Increase) decrease in other assets | -281 | 875 |
Excess tax (benefit) expense from share-based payment arrangements | -47 | 4 |
Decrease in accrued interest and other liabilities | -4,744 | -2,978 |
Net Cash (Used In) Provided by Operating Activities | -1,184 | 13,398 |
Investing Activities: | ' | ' |
Net decrease (increase) in short term investments | 8,268 | -9,159 |
Decrease in FHLB stock | 738 | ' |
Proceeds from maturities of securities available for sale | 19,996 | 69,272 |
Proceeds from maturities of securities held to maturity | 287 | 586 |
Proceeds from sales of securities available for sale | 9,548 | ' |
Purchases of securities available for sale | -16,230 | -100,239 |
Proceeds from sales and payments of loans held for sale | ' | 31 |
Net (increase) decrease in loans | -27,044 | 53,518 |
Proceeds from sales of OREO | ' | 267 |
Premiums paid on bank owned life insurance | -190 | -201 |
Net purchases of premises and equipment | -330 | -342 |
Net Cash (Used In) Provided by Investing Activities | -4,957 | 13,733 |
Financing Activities: | ' | ' |
Proceeds from issuance of common stock | 132 | 7 |
Excess tax benefits from share-based payment arrangements | 47 | -4 |
Net decrease in deposits | -71,726 | -55,764 |
Cash dividends paid | -1,197 | -1,186 |
Repayment of other borrowings | -16,388 | -10 |
Net decrease in securities sold under repurchase agreements and short-term borrowings | -3,196 | -5,455 |
Net Cash Provided by Financing Activities | -92,328 | -62,412 |
Decrease in Cash and Cash Equivalents | -98,495 | -35,281 |
Cash and Cash Equivalents, beginning of period | 699,354 | 827,523 |
Cash and Cash Equivalents, End of Period | 600,859 | 792,242 |
Supplemental disclosures: | ' | ' |
Interest paid | 1,222 | 1,333 |
Income tax payments | ' | 1,150 |
Change in unrealized loss on securities available for sale, net of tax | 2,367 | -833 |
Transfers to other real estate owned | ' | ' |
Transfers from loans held for sale back to loan portfolio | ' | ' |
Description_of_Operations
Description of Operations | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Policies [Abstract] | ' | |
Description of Operations | ' | |
1 | Description of Operations | |
Hudson Valley Holding Corp. (“Hudson Valley” or the “Company”) is a New York corporation founded in 1982. The Company is registered as a bank holding company under the Bank Holding Company Act of 1956. | ||
The Company provides financial services through its wholly-owned subsidiary, Hudson Valley Bank, N.A. (“HVB” or the “Bank”), a national banking association established in 1972, with operational headquarters in Westchester County, New York. HVB has 17 branch offices in Westchester County, New York, 4 in Manhattan, New York, 4 in Bronx County, New York, 2 in Rockland County, New York, and 1 in Kings County, New York. During 2013, the Company announced and completed the consolidation and/or closure of its six Connecticut branches, one branch in Westchester, and one branch in Manhattan, New York. | ||
The Company provides investment management services through a wholly-owned subsidiary of HVB, A.R. Schmeidler & Co., Inc. (“ARS”), a money management firm, thereby generating fee income. ARS has offices at 500 Fifth Avenue in Manhattan, New York. | ||
The Company provides asset based lending products through its wholly-owned subsidiary of HVB, HVB Capital Credit LLC. HVB Capital Credit LLC has offices at 489 Fifth Avenue in Manhattan, New York. | ||
The Company provides equipment loan and lease financing through its wholly-owned subsidiary of HVB, HVB Equipment Capital, LLC. | ||
We derive substantially all of our revenue and income from providing banking and related services to businesses, professionals, municipalities, not-for-profit organizations and individuals within our market area. | ||
Our principal executive offices are located at 21 Scarsdale Road, Yonkers, New York 10707. | ||
Our principal customers are businesses, professionals, municipalities, not-for-profit organizations and individuals. Our strategy is to operate community-oriented banking institutions dedicated to providing personalized service to customers and focusing on products and services for selected segments of the market. We believe that our ability to attract and retain customers is due primarily to our focused approach to our markets, our personalized and professional services, our product offerings, our experienced staff, our knowledge of our markets and our ability to provide responsive solutions to customer needs. We provide these products and services to a diverse range of customers and do not rely on a single large depositor for a significant percentage of deposits. |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
2 | Basis of Presentation | |
The unaudited condensed consolidated financial statements included in this report have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not contain all of the information and footnotes required by GAAP for annual financial statements and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | ||
The accounting and reporting policies followed in the presentation of the unaudited condensed consolidated financial statements are consistent with those described in Note 1 of the Notes to Consolidated Financial Statements included in the Company’s 2013 Annual Report on Form 10-K. Management has evaluated all significant events and transactions that occurred after March 31, 2014, for potential recognition or disclosure in these consolidated financial statements. In the opinion of management, these consolidated financial statements reflect all adjustments necessary to present fairly such information for the periods and dates indicated. Such adjustments are normal and recurring in nature. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period’s presentation. Reclassifications had no effect on prior period net income or stockholders’ equity. | ||
In preparing such financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the dates of the consolidated balance sheets and statements of income for the periods reported. Actual results could differ significantly from those estimates. Estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the determination of the fair value of securities available for sale, the determination of other-than-temporary impairment of investments and the carrying amounts of goodwill and deferred tax assets. In connection with the determination of the allowance for loan losses, management utilizes the work of professional appraisers for significant properties. |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
3 | Securities | ||||||||||||||||||||||||
The following tables set forth the amortized cost, gross unrealized gains and losses and the estimated fair value of securities classified as available for sale and held to maturity at the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Available for Sale | |||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 94,753 | $ | 57 | $ | 571 | $ | 94,239 | |||||||||||||||||
Mortgage-backed securities - residential | 342,961 | 2,355 | 8,230 | 337,086 | |||||||||||||||||||||
Obligations of states and political subdivisions | 88,651 | 1,332 | 98 | 89,885 | |||||||||||||||||||||
Other debt securities | 976 | 4 | 1 | 979 | |||||||||||||||||||||
Total debt securities | 527,341 | 3,748 | 8,900 | 522,189 | |||||||||||||||||||||
Mutual funds and other equity securities | 9,729 | 772 | 349 | 10,152 | |||||||||||||||||||||
Total | $ | 537,070 | $ | 4,520 | $ | 9,249 | $ | 532,341 | |||||||||||||||||
Amortized | Gross Unrecognized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Held to Maturity | |||||||||||||||||||||||||
Mortgage-backed securities - residential | $ | 2,846 | $ | 236 | — | $ | 3,082 | ||||||||||||||||||
Obligations of states and political subdivisions | 3,105 | 49 | — | 3,154 | |||||||||||||||||||||
Total | $ | 5,951 | $ | 285 | — | $ | 6,236 | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Available for Sale | |||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 94,427 | $ | 35 | $ | 770 | $ | 93,692 | |||||||||||||||||
Mortgage-backed securities - residential | 349,216 | 2,211 | 11,732 | 339,695 | |||||||||||||||||||||
Obligations of states and political subdivisions | 87,884 | 1,520 | 100 | 89,304 | |||||||||||||||||||||
Other debt securities | 9,529 | 4 | 4 | 9,529 | |||||||||||||||||||||
Total debt securities | 541,056 | 3,770 | 12,606 | 532,220 | |||||||||||||||||||||
Mutual funds and other equity securities | 9,729 | 636 | 387 | 9,978 | |||||||||||||||||||||
Total | $ | 550,785 | $ | 4,406 | $ | 12,993 | $ | 542,198 | |||||||||||||||||
Amortized | Gross Unrecognized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Held to Maturity | |||||||||||||||||||||||||
Mortgage-backed securities-residential | $ | 3,133 | $ | 249 | — | $ | 3,382 | ||||||||||||||||||
Obligations of states and political subdivisions | 3,105 | 69 | — | 3,174 | |||||||||||||||||||||
Total | $ | 6,238 | $ | 318 | — | $ | 6,556 | ||||||||||||||||||
Included in other debt securities at December 31, 2013, were investments in pooled trust preferred securities with an original cost of $19,995 and a carrying value of $8,753. These investments had been severely negatively affected by the economic downturn of recent years and had accumulated other-than-temporary impairment (“OTTI”) losses of $11,242. The Company sold these investments in January 2014 without further loss. There were no OTTI losses recognized in the three month periods ended March 31, 2014 or 2013. | |||||||||||||||||||||||||
The following table summarizes the change in pretax OTTI credit related losses on securities available for sale for the periods indicated: | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period: | |||||||||||||||||||||||||
Total OTTI credit related impairment charges beginning of period | $ | 11,242 | $ | 10,002 | |||||||||||||||||||||
Increase to the amount related to the credit loss for which other-than-temporary impairment was previously recognized | — | — | |||||||||||||||||||||||
Credit related impairment dispositions | (11,242 | ) | — | ||||||||||||||||||||||
Credit related impairment not previously recognized | — | — | |||||||||||||||||||||||
Balance at end of period: | $ | — | $ | 10,002 | |||||||||||||||||||||
At March 31, 2014 and December 31, 2013, securities having a stated value of approximately $184,418 and $216,051, respectively, were pledged to secure public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law. | |||||||||||||||||||||||||
The following tables reflect the fair value and gross unrealized loss of the Company’s investments, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, as of the dates indicated: | |||||||||||||||||||||||||
Less Than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
March 31, 2014 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||
U.S. Treasuries and government agencies | $ | 48,637 | $ | 565 | $ | 3,520 | $ | 6 | $ | 52,157 | $ | 571 | |||||||||||||
Mortgage-backed securities - residential | 210,939 | 6,891 | 30,027 | 1,339 | 240,966 | 8,230 | |||||||||||||||||||
Obligations of states and political subdivisions | 10,272 | 96 | 1,010 | 2 | 11,282 | 98 | |||||||||||||||||||
Other debt securities | — | — | 99 | 1 | 99 | 1 | |||||||||||||||||||
Total debt securities | 269,848 | 7,552 | 34,656 | 1,348 | 304,504 | 8,900 | |||||||||||||||||||
Mutual funds and other equity securities | 17 | 1 | 8,820 | 348 | 8,837 | 349 | |||||||||||||||||||
Total temporarily impaired securities | $ | 269,865 | $ | 7,553 | $ | 43,476 | $ | 1,696 | $ | 313,341 | $ | 9,249 | |||||||||||||
Less Than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
December 31, 2013 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||
U.S. Treasuries and government agencies | $ | 53,299 | $ | 761 | $ | 3,469 | $ | 9 | $ | 56,768 | $ | 770 | |||||||||||||
Mortgage-backed securities - residential | 240,192 | 10,593 | 20,216 | 1,139 | 260,408 | 11,732 | |||||||||||||||||||
Obligations of states and political subdivisions | 8,060 | 94 | 1,322 | 6 | 9,382 | 100 | |||||||||||||||||||
Other debt securities | 203 | 2 | 98 | 2 | 301 | 4 | |||||||||||||||||||
Total debt securities | 301,754 | 11,450 | 25,105 | 1,156 | 326,859 | 12,606 | |||||||||||||||||||
Mutual funds and other equity securities | — | — | 8,785 | 387 | 8,785 | 387 | |||||||||||||||||||
Total temporarily impaired securities | $ | 301,754 | $ | 11,450 | $ | 33,890 | $ | 1,543 | $ | 335,644 | $ | 12,993 | |||||||||||||
There were no securities classified as held to maturity in an unrealized loss position at March 31, 2014 or December 31, 2013. | |||||||||||||||||||||||||
The total number of securities in the Company’s portfolio that were in an unrealized loss position was 212 and 215, respectively, at March 31, 2014 and December 31, 2013. The Company has determined that it does not intend to sell, nor is it more likely than not that it will be required to sell, its securities that are in an unrealized loss position prior to the recovery of its amortized cost basis. The Company believes that its securities continue to have satisfactory ratings, are readily marketable and that current unrealized losses are primarily a result of changes in interest rates and other market conditions. Therefore, management does not consider these investments to be other-than-temporarily impaired at March 31, 2014. | |||||||||||||||||||||||||
The contractual maturity of all debt securities held at March 31, 2014 is shown below. Actual maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Contractual Maturity | |||||||||||||||||||||||||
Within 1 year | $ | 29,395 | $ | 29,463 | — | — | |||||||||||||||||||
After 1 year but within 5 years | 129,649 | 130,268 | $ | 3,105 | $ | 3,154 | |||||||||||||||||||
After 5 year but within 10 years | 25,336 | 25,372 | — | — | |||||||||||||||||||||
Mortgage-backed securities - residential | 342,961 | 337,086 | 2,846 | 3,082 | |||||||||||||||||||||
Total | $ | 527,341 | $ | 522,189 | $ | 5,951 | $ | 6,236 | |||||||||||||||||
Loans
Loans | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||
4 | Loans | ||||||||||||||||||||||||
The loan portfolio is comprised of the following: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||
Commercial | $ | 587,366 | $ | 593,476 | |||||||||||||||||||||
Construction | 81,331 | 88,311 | |||||||||||||||||||||||
Residential Multi-Family | 249,661 | 226,898 | |||||||||||||||||||||||
Residential Other | 429,379 | 432,999 | |||||||||||||||||||||||
Commercial & Industrial | 284,025 | 258,578 | |||||||||||||||||||||||
Individuals & Lease Financing | 26,908 | 30,528 | |||||||||||||||||||||||
Total loans | 1,658,670 | 1,630,790 | |||||||||||||||||||||||
Deferred loan costs, net | 1,029 | 1,379 | |||||||||||||||||||||||
Allowance for loan losses | (26,904 | ) | (25,990 | ) | |||||||||||||||||||||
Loans, net | $ | 1,632,795 | $ | 1,606,179 | |||||||||||||||||||||
Risk characteristics of the Company’s loan portfolio segments include the following: | |||||||||||||||||||||||||
Commercial Real Estate Loans — In underwriting commercial real estate loans, the Company evaluates both the prospective borrower’s ability to make timely payments on the loan and the value of the property securing the loan. Repayment of such loans may be negatively impacted should the borrower default or should there be a substantial decline in the value of the property securing the loan, or a decline in general economic conditions. Where the owner occupies the property, the Company also evaluates the business’s ability to repay the loan on a timely basis. In addition, the Company may require personal guarantees, lease assignments and/or the guarantee of the operating company when the property is owner occupied. These types of loans may involve greater risks than other types of lending, because payments on such loans are often dependent upon the successful operation of the business involved, therefore, repayment of such loans may be negatively impacted by adverse changes in economic conditions affecting the borrowers’ business. | |||||||||||||||||||||||||
Construction Loans — Construction loans are short-term loans (generally up to 18 months) secured by land for both residential and commercial development. The loans are generally made for acquisition and improvements. Funds are disbursed as phases of construction are completed. Most non-residential construction loans require pre-approved permanent financing or pre-leasing by the company or another bank providing the permanent financing. The Company funds construction of single family homes and commercial real estate, when no contract of sale exists, based upon the experience of the builder, the financial strength of the owner, the type and location of the property and other factors. Construction loans are generally personally guaranteed by the principal(s). Repayment of such loans may be negatively impacted by the builders’ inability to complete construction, by a downturn in the new construction market, by a significant increase in interest rates or by a decline in general economic conditions. The Bank’s primary regulator considers construction loans to be part of commercial real estate for concentration risk measurement purposes. | |||||||||||||||||||||||||
Residential Real Estate Loans — Various loans secured by residential real estate properties are offered by the Company, including 1-4 family residential mortgages, multi-family residential loans and a variety of home equity line of credit products. Repayment of such loans may be negatively impacted should the borrower default, should there be a significant decline in the value of the property securing the loan or should there be a decline in general economic conditions. The Company offers multi-family loans up to $7.5 million per transaction. These loans are available for 7 or 10 year terms with one 5 year extension option. A 7 year term with no extension option is also offered. Pricing is typically based on a spread over the corresponding Federal Home Loan Bank (“FHLB”) rate. Amortization of up to 30 years, a maximum loan to value ratio of 75% and a debt service coverage ratio of 1.2 to 1 are generally required. The Bank’s primary regulator considers multi-family residential loans to be part of commercial real estate for concentration risk measurement purposes. | |||||||||||||||||||||||||
Commercial and Industrial Loans — The Company’s commercial and industrial loan portfolio consists primarily of commercial business loans and lines of credit to businesses and professionals. These loans are usually made to finance the purchase of inventory, new or used equipment or other short or long-term working capital purposes. These loans are generally secured by corporate assets, often with real estate as secondary collateral, but are also offered on an unsecured basis. In granting this type of loan, the Company primarily looks to the borrower’s cash flow as the source of repayment with collateral and personal guarantees, where obtained, as a secondary source. In late 2013, the Company initiated an asset-based lending (“ABL”) program which offers credit facilities in the form of credit lines and/or term loans to manufacturers, wholesalers, distributors, service providers and retailers. ABL refers to loans secured by a variety of assets usually comprised of accounts receivable, inventory, machinery and equipment and, at times, real estate. The collateral is considered the primary source of repayment and the operation of the business is the secondary source. Commercial loans are often larger and may involve greater risks than other types of loans offered by the Company. Payments on such loans are often dependent upon the successful operation of the underlying business involved and, therefore, repayment of such loans may be negatively impacted by adverse changes in economic conditions, management’s inability to effectively manage the business, claims of others against the borrower’s assets which may take priority over the Company’s claims against assets, death or disability of the borrower or loss of market for the borrower’s products or services. | |||||||||||||||||||||||||
Lease Financing and Other Loans — The Company originates lease financing transactions which are primarily conducted with businesses, professionals and not-for-profit organizations and provide financing principally for office equipment, telephone systems, computer systems, energy saving improvements and other special use equipment. In late March 2014, the Company initiated an equipment leasing program with a focus on financing income producing equipment in the manufacturing, healthcare, technology and transportation segments. Payments on such loans are often dependent upon the successful operation of the underlying business involved and, therefore, repayment of such loans may be negatively impacted by adverse changes in economic conditions, and management’s inability to effectively manage the business or loss of market for the borrower’s products or services. The Company also offers installment loans and reserve lines of credit to individuals. Repayment of such loans are often dependent on the personal income of the borrower which may be negatively impacted by adverse changes in economic conditions. The Company does not place an emphasis on originating these types of loans. | |||||||||||||||||||||||||
The following table presents the allowance for loan losses by portfolio segment for the periods indicated: | |||||||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Charge-offs | (259 | ) | — | — | (217 | ) | (32 | ) | (10 | ) | |||||||||||||||
Recoveries | 1,095 | 787 | 37 | 48 | 131 | 92 | |||||||||||||||||||
Net Recoveries (Charge-offs) | 836 | 787 | 37 | (169 | ) | 99 | 82 | ||||||||||||||||||
Provision for loan losses | 78 | (480 | ) | (364 | ) | 470 | 550 | (98 | ) | ||||||||||||||||
Net change during the period | 914 | 307 | (327 | ) | 301 | 649 | (16 | ) | |||||||||||||||||
Balance at end of period | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period | $ | 26,612 | $ | 10,090 | $ | 3,949 | $ | 8,119 | $ | 4,077 | $ | 377 | |||||||||||||
Charge-offs | (1,725 | ) | (368 | ) | (390 | ) | (548 | ) | (419 | ) | — | ||||||||||||||
Recoveries | 429 | 1 | 3 | 249 | 3 | 173 | |||||||||||||||||||
Net Charge-offs | (1,296 | ) | (367 | ) | (387 | ) | (299 | ) | (416 | ) | 173 | ||||||||||||||
Provision for loan losses | 772 | 1,547 | 997 | (1,400 | ) | (237 | ) | (135 | ) | ||||||||||||||||
Net change during the period | (524 | ) | 1,180 | 610 | (1,699 | ) | (653 | ) | 38 | ||||||||||||||||
Balance at end of period | $ | 26,088 | $ | 11,270 | $ | 4,559 | $ | 6,420 | $ | 3,424 | $ | 415 | |||||||||||||
The following tables present the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of the dates indicated: | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending balance attributed to loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
Individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||
Total allowance for loan losses | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
Total loans: | |||||||||||||||||||||||||
Ending balance of loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,617,614 | $ | 571,828 | $ | 80,452 | $ | 663,577 | $ | 274,849 | $ | 26,908 | |||||||||||||
Individually evaluated for impairment | 41,056 | 15,538 | 879 | 15,463 | 9,176 | — | |||||||||||||||||||
Total loans | $ | 1,658,670 | $ | 587,366 | $ | 81,331 | $ | 679,040 | $ | 284,025 | $ | 26,908 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending balance attributed to loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||
Total allowance for loan losses | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Total loans: | |||||||||||||||||||||||||
Ending balance of loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,589,738 | $ | 580,561 | $ | 87,432 | $ | 642,957 | $ | 248,260 | $ | 30,528 | |||||||||||||
Individually evaluated for impairment | 41,052 | 12,915 | 879 | 16,940 | 10,318 | — | |||||||||||||||||||
Total loans | $ | 1,630,790 | $ | 593,476 | $ | 88,311 | $ | 659,897 | $ | 258,578 | $ | 30,528 | |||||||||||||
The following table presents the recorded investment in non-accrual loans and loans past due 90 days and still accruing by class of loans as of the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Non-Accrual | Past Due | Non-Accrual | Past Due | ||||||||||||||||||||||
90 Days and | 90 Days and | ||||||||||||||||||||||||
Still Accruing | Still Accruing | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 3,670 | — | $ | 3,768 | — | |||||||||||||||||||
Non owner occupied | 2,856 | — | 2,861 | — | |||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 879 | — | 879 | — | |||||||||||||||||||||
Residential | — | — | — | — | |||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | — | — | 1,282 | — | |||||||||||||||||||||
1-4 family | 12,038 | — | 12,164 | — | |||||||||||||||||||||
Home equity | 1,055 | — | 1,113 | — | |||||||||||||||||||||
Commercial & Industrial | 508 | — | 1,422 | — | |||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | — | — | — | — | |||||||||||||||||||||
Overdrafts | — | — | — | — | |||||||||||||||||||||
Total | $ | 21,006 | — | $ | 23,489 | — | |||||||||||||||||||
Gross interest income that would have been recorded if these borrowers had been current in accordance with their original loan terms was $272 and $528, respectively, for the three month periods ended March 31, 2014 and 2013. There was no interest income recorded on non-accrual loans during the three month periods ended March 31, 2014 and 2013. | |||||||||||||||||||||||||
The following table presents the aging of loans (including past due and non-accrual loans) by class of loans as of the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | 31-60 Days | 61-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 161,856 | — | — | $ | 672 | $ | 672 | $ | 161,184 | |||||||||||||||
Non owner occupied | 425,510 | $ | 1,340 | $ | 793 | 2,856 | 4,989 | 420,521 | |||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 42,961 | — | — | 879 | 879 | 42,082 | |||||||||||||||||||
Residential | 38,370 | — | 1,355 | — | 1,355 | 37,015 | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 249,661 | — | — | — | — | 249,661 | |||||||||||||||||||
1-4 family | 314,741 | 3,170 | — | 11,726 | 14,896 | 299,845 | |||||||||||||||||||
Home equity | 114,638 | 549 | 99 | 1,055 | 1,703 | 112,935 | |||||||||||||||||||
Commercial & Industrial | 284,025 | 2,115 | 169 | — | 2,284 | 281,741 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | 25,032 | — | — | — | — | 25,032 | |||||||||||||||||||
Overdrafts | 1,876 | — | — | — | — | 1,876 | |||||||||||||||||||
Total | $ | 1,658,670 | $ | 7,174 | $ | 2,416 | $ | 17,188 | $ | 26,778 | $ | 1,631,892 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | 31-60 Days | 61-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 168,371 | — | $ | 158 | $ | 704 | $ | 862 | $ | 167,509 | ||||||||||||||
Non owner occupied | 425,105 | $ | 200 | — | 2,861 | 3,061 | 422,044 | ||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 47,039 | — | — | 879 | 879 | 46,160 | |||||||||||||||||||
Residential | 41,272 | 1 | — | — | 1 | 41,271 | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 226,898 | — | — | — | — | 226,898 | |||||||||||||||||||
1-4 family | 320,640 | 1,012 | 190 | 11,841 | 13,043 | 307,597 | |||||||||||||||||||
Home equity | 112,359 | 408 | 540 | 1,113 | 2,061 | 110,298 | |||||||||||||||||||
Commercial & Industrial | 258,578 | 1,606 | 321 | 1,365 | 3,292 | 255,286 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | 29,626 | 185 | 4 | — | 189 | 29,437 | |||||||||||||||||||
Overdrafts | 902 | — | — | — | — | 902 | |||||||||||||||||||
Total | $ | 1,630,790 | $ | 3,412 | $ | 1,213 | $ | 18,763 | $ | 23,388 | $ | 1,607,402 | |||||||||||||
Impaired loans and the recorded investment in impaired loans as of the dates indicated were as follows: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | Unpaid | Recorded | Allowance for | ||||||||||||||||||||
Principal | Investment | Loan Losses | Principal | Investment | Loan Losses | ||||||||||||||||||||
Balance | Allocated | Balance | Allocated | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 11,505 | $ | 11,238 | — | $ | 10,320 | $ | 10,054 | — | |||||||||||||||
Non owner occupied | 4,300 | 4,300 | — | 2,861 | 2,861 | — | |||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 1,231 | 879 | — | 1,231 | 879 | — | |||||||||||||||||||
Residential | — | — | — | — | — | — | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 1,629 | 1,629 | — | 2,921 | 2,921 | — | |||||||||||||||||||
1-4 family | 14,653 | 12,704 | — | 14,782 | 12,831 | — | |||||||||||||||||||
Home equity | 1,130 | 1,130 | — | 1,705 | 1,188 | — | |||||||||||||||||||
Commercial & Industrial | 9,207 | 9,176 | — | 11,421 | 10,318 | — | |||||||||||||||||||
Lease Financing & Other | — | — | — | — | — | — | |||||||||||||||||||
Total loans | $ | 43,655 | $ | 41,056 | — | $ | 45,241 | $ | 41,052 | — | |||||||||||||||
The carrying value of impaired loans was determined using either the fair value of the underlying collateral of the loan or by an analysis of the expected cash flows related to the loan. | |||||||||||||||||||||||||
The following table presents the average recorded investment in impaired loans by portfolio segment and interest recognized on impaired loans for the periods indicated: | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 10,644 | $ | 18 | $ | 21,891 | $ | 3 | |||||||||||||||||
Non owner occupied | 3,581 | 77 | 3,187 | 71 | |||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 879 | — | 1,727 | — | |||||||||||||||||||||
Residential | — | — | 2,047 | 11 | |||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 2,275 | 17 | 3,148 | 40 | |||||||||||||||||||||
1-4 family | 12,768 | 10 | 10,910 | — | |||||||||||||||||||||
Home equity | 1,160 | 1 | 837 | — | |||||||||||||||||||||
Commercial & Industrial | 9,747 | 98 | 11,988 | 112 | |||||||||||||||||||||
Lease Financing & Other | — | — | — | — | |||||||||||||||||||||
Total | $ | 41,054 | $ | 221 | $ | 55,735 | $ | 237 | |||||||||||||||||
During the three months ended March 31, 2014, the terms of certain loans were modified as troubled debt restructurings (“TDRs”). The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. Modifications involving a reduction of the stated interest rate of the loan were for periods ranging from 6 months to 15 years. Modifications involving an extension of the maturity date were for periods ranging from 6 months to 3 years. | |||||||||||||||||||||||||
The Company is not committed to extend any additional credit to borrowers whose loans are classified as TDRs. Impaired loans as of March 31, 2014 and December 31, 2013 included $31,904 and $30,864, respectively, of loans considered to be TDRs. The Company classifies all loans considered to be TDRs as impaired. | |||||||||||||||||||||||||
For the three month period ended March 31, 2014, twelve TDRs with carrying amounts of $20,001 were on accrual status and performing in accordance with their modified terms. All other TDRs for the three month period ended March 31, 2014 were on non-accrual status. There were no TDRs with payment defaults within twelve months following the modification during the three month periods ended March 31, 2014 or 2013. The Company’s policy states that a loan is considered to be in payment default once it is 45 days contractually past due under the modified terms. At March 31, 2014 and December 31, 2013, there was one loan totaling $4,074 and $4,069, respectively, modified as a TDR that was in payment default within twelve months following the modification. | |||||||||||||||||||||||||
The following tables present loans by class modified as TDRs that occurred during the periods indicated: | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Number | Pre-Modification | Post-Modification | ||||||||||||||||||||
of Loans | Outstanding | Outstanding | of Loans | Outstanding | Outstanding | ||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | 1 | $ | 1,299 | $ | 1,299 | — | — | — | |||||||||||||||||
Non owner occupied | 2 | 1,444 | 1,444 | — | — | — | |||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | |||||||||||||||||||
Residential | — | — | — | — | — | — | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | — | — | — | — | — | — | |||||||||||||||||||
1-4 family | — | — | — | 4 | $ | 5,211 | $ | 5,025 | |||||||||||||||||
Home equity | — | — | — | — | — | — | |||||||||||||||||||
Commercial & Industrial | — | — | — | — | — | — | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing and other | — | — | — | — | — | — | |||||||||||||||||||
Overdrafts | — | — | — | — | — | — | |||||||||||||||||||
Total | 3 | $ | 2,743 | $ | 2,743 | 4 | $ | 5,211 | $ | 5,025 | |||||||||||||||
The TDRs described above resulted in no charge-offs during the three months ended March 31, 2014, and $186 of charge-offs during the three months ended March 31, 2013. | |||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as value of underlying collateral, current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes non-homogeneous loans individually and classifies them as to credit risk on a quarterly basis. The Company uses the following definitions for risk ratings: | |||||||||||||||||||||||||
Special Mention — Loans classified as special mention have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the asset or in the institution’s credit position at some future date. | |||||||||||||||||||||||||
Substandard — Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||
Doubtful — Loans classified as doubtful have all the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. | |||||||||||||||||||||||||
Loans not meeting the above criteria that are analyzed individually as part of the above described process are considered to be pass rated loans. | |||||||||||||||||||||||||
The following table presents the risk category by class of loans as of the dates indicated of non-homogeneous loans individually classified as to credit risk as of the most recent analysis performed: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | Pass | Special | Substandard | Doubtful | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 161,856 | $ | 134,431 | $ | 7,418 | $ | 20,007 | — | ||||||||||||||||
Non owner occupied | 425,510 | 400,233 | 15,801 | 9,476 | — | ||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 42,961 | 36,582 | 5,500 | 879 | — | ||||||||||||||||||||
Residential | 38,370 | 33,960 | 4,410 | — | — | ||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 249,661 | 246,210 | 2,538 | 913 | — | ||||||||||||||||||||
1-4 family | 57,881 | 36,536 | 4,234 | 17,111 | — | ||||||||||||||||||||
Home equity | 3,553 | 1,727 | — | 1,826 | — | ||||||||||||||||||||
Commercial & Industrial | 284,025 | 274,239 | 6,772 | 3,014 | — | ||||||||||||||||||||
Lease Financing & Other | 24,155 | 23,885 | — | 270 | — | ||||||||||||||||||||
Total loans | $ | 1,287,972 | $ | 1,187,803 | $ | 46,673 | $ | 53,496 | — | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | Pass | Special | Substandard | Doubtful | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 168,371 | $ | 139,108 | $ | 6,342 | $ | 22,921 | — | ||||||||||||||||
Non owner occupied | 425,105 | 399,009 | 14,024 | 12,072 | — | ||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 47,039 | 46,160 | — | 879 | — | ||||||||||||||||||||
Residential | 41,272 | 37,931 | 3,341 | — | — | ||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 226,898 | 222,147 | 2,550 | 2,201 | — | ||||||||||||||||||||
1-4 family | 61,440 | 42,158 | 2,008 | 17,274 | — | ||||||||||||||||||||
Home equity | 1,146 | 34 | — | 1,112 | — | ||||||||||||||||||||
Commercial & Industrial | 258,578 | 249,238 | 5,207 | 4,133 | — | ||||||||||||||||||||
Lease Financing & Other | 28,661 | 28,391 | — | 270 | — | ||||||||||||||||||||
Total loans | $ | 1,258,510 | $ | 1,164,176 | $ | 33,472 | $ | 60,862 | — | ||||||||||||||||
Loans not individually rated, primarily consisting of certain 1-4 family residential mortgages and home equity lines of credit, are evaluated for risk in groups of homogeneous loans. The primary risk characteristic evaluated on these pools is delinquency. | |||||||||||||||||||||||||
The following table presents the delinquency categories by class of loans as of the dates indicated for loans evaluated for risk in groups of homogeneous loans: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | 31-59 Days | 60-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
1-4 family | $ | 256,860 | $ | 1,107 | — | — | $ | 1,107 | $ | 255,753 | |||||||||||||||
Home equity | 111,085 | 301 | — | — | 301 | 110,784 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Other loans | 877 | — | — | — | — | 877 | |||||||||||||||||||
Overdrafts | 1,876 | — | — | — | — | 1,876 | |||||||||||||||||||
Total loans | $ | 370,698 | $ | 1,408 | — | — | $ | 1,408 | $ | 369,290 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | 31-59 Days | 60-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
1-4 family | $ | 259,201 | $ | 705 | $ | 115 | — | $ | 820 | $ | 258,381 | ||||||||||||||
Home equity | 111,212 | 408 | 540 | — | 948 | 110,264 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Other loans | 965 | 23 | 4 | — | 27 | 938 | |||||||||||||||||||
Overdrafts | 902 | — | — | — | — | 902 | |||||||||||||||||||
Total loans | $ | 372,280 | $ | 1,136 | $ | 659 | — | $ | 1,795 | $ | 370,485 | ||||||||||||||
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share | ' | ||||||||
5 | Earnings Per Share | ||||||||
FASB ASC 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards and restricted stock units granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities. Restricted stock unit awards which contain forfeitable rights to dividends and are non-voting, are considered common stock equivalents and are considered only in diluted earnings per share. | |||||||||
The following table presents the calculation of earnings per share for the periods indicated: | |||||||||
Three Months Ended | |||||||||
March 31 | |||||||||
2014 | 2013 | ||||||||
(Dollars in thousands) | |||||||||
Net income | $ | 1,602 | $ | 3,651 | |||||
Less: Dividends paid on and earnings allocated to participating securities | 22 | 43 | |||||||
Income attributable to common stock | $ | 1,580 | $ | 3,608 | |||||
Weighted average common shares outstanding, including participating securities | 19,983,449 | 19,810,845 | |||||||
Less: Weighted average participating securities | 292,173 | 247,762 | |||||||
Weighted average common shares outstanding | 19,691,276 | 19,563,083 | |||||||
Basic earnings per common share | $ | 0.08 | $ | 0.18 | |||||
Income attributable to common stock | $ | 1,580 | $ | 3,608 | |||||
Weighted average common shares outstanding | 19,691,276 | 19,563,083 | |||||||
Weighted average common equivalent shares outstanding | 27,719 | — | |||||||
Weighted average common and equivalent shares outstanding | 19,718,995 | 19,563,083 | |||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.18 | |||||
Dividends per common share | $ | 0.06 | $ | 0.06 | |||||
There were 166,605 and 361,744 options outstanding at March 31, 2014, and 2013, respectively, that were not included in the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of common stock and were, therefore, antidilutive. |
Benefit_Plans
Benefit Plans | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Benefit Plans | ' | ||||||||
6 | Benefit Plans | ||||||||
In addition to defined contribution pension and savings plans which cover substantially all employees, the Company provides additional retirement benefits to certain officers and directors pursuant to unfunded supplemental defined benefit plans. The following table summarizes the components of the net periodic pension cost of the defined benefit plans. | |||||||||
Three Months Ended | |||||||||
March 31 | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Service cost | $ | 109 | $ | 131 | |||||
Interest cost | 153 | 151 | |||||||
Amortization of prior service cost | — | (54 | ) | ||||||
Amortization of net loss | 188 | 209 | |||||||
Net periodic pension cost | $ | 450 | $ | 437 | |||||
The Company makes contributions to the unfunded defined benefit plans only as benefit payments become due. The Company disclosed in its 2013 Annual Report on Form 10-K that it expected to contribute $1,067 to the unfunded defined benefit plans during 2014. For the three month period ended March 31, 2014, the Company contributed $225 to these plans. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
7 | Stock-Based Compensation | ||||||||||||||||
In accordance with the provisions of the Hudson Valley Holding Corp. 2010 Omnibus Incentive Plan, the Company may grant eligible employees, including directors, consultants and advisors, incentive stock options, non-qualified stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance awards and other types of awards. Prior to the 2010 Plan, the Company had stock option plans that provided for the granting of options to directors, officers, eligible employees, and certain advisors at an exercise price not less than the market value of the stock on the date of grant subject to various eligibility and vesting requirements. There will be no further grants under any plans adopted prior to the 2010 plan. | |||||||||||||||||
Compensation costs relating to stock-based payment transactions are recognized in the financial statements with measurement based upon the fair value of the equity or liability instruments issued. Stock-based payments are expensed over their respective vesting periods. | |||||||||||||||||
The following table summarizes stock-based compensation activity for the three month period ended March 31, 2014: | |||||||||||||||||
Prior Option Plans (1): | Shares | Weighted | Aggregate | Weighted Average | |||||||||||||
Average Grant or | Intrinsic | Remaining | |||||||||||||||
Exercise Price | Value (2) (In thousands) | Contractual Term | |||||||||||||||
Outstanding at December 31, 2013 | 295,627 | $ | 21.62 | ||||||||||||||
Granted | — | — | |||||||||||||||
Exercised | (6,413 | ) | 18.78 | ||||||||||||||
Cancelled or Expired | (9,757 | ) | 22.67 | ||||||||||||||
Outstanding at March 31, 2014 | 279,457 | 21.65 | $ | 70 | 1.3 | ||||||||||||
Exercisable at March 31, 2014 | 279,457 | 21.65 | 70 | 1.3 | |||||||||||||
Non-vested at March 31, 2014 | — | — | |||||||||||||||
2010 Omnibus Incentive Plan: | |||||||||||||||||
Non-vested at December 31, 2013 | 251,274 | $ | 16.3 | ||||||||||||||
Granted at fair value | 169,626 | 18.18 | |||||||||||||||
Restriction released | (35,242 | ) | 16.45 | ||||||||||||||
Cancelled | — | — | |||||||||||||||
Non-vested at March 31, 2014 | 385,658 | 17.12 | |||||||||||||||
Available for grant at December 31, 2013 | 968,762 | ||||||||||||||||
Restricted stock awards | (169,626 | ) | $ | 18.12 | |||||||||||||
Unissued or cancelled | 58,742 | 16.23 | |||||||||||||||
Available for future grant | 857,878 | ||||||||||||||||
-1 | 2010 Omnibus Incentive Plan includes restricted stock awards while prior option plans do not. | ||||||||||||||||
-2 | The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current fair value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on March 31, 2014. This amount changes based on the fair value of the Company’s stock. | ||||||||||||||||
The fair value (present value of the estimated future benefit to the option holder) of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. There were no stock options granted in the three month period ended March 31, 2014 or the year ended December 31, 2013. | |||||||||||||||||
There was no net compensation expense related to stock options included in net income for the three month periods ended March 31, 2014 and 2013. There was no remaining unrecognized compensation expense related to stock options at March 31, 2014 and 2013. | |||||||||||||||||
Compensation expense of $416 and $202 related to the Company’s restricted stock awards was included in net income for the three month periods ended March 31, 2014 and 2013, respectively. The tax effect related thereto was $172 and $83, respectively. Unrecognized compensation expense related to restricted stock awards totaled $4,630 at March 31, 2014. This expense is expected to be recognized over a remaining weighted average period of 1.5 years. |
Fair_Value
Fair Value | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
8 | Fair Value | ||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: | |||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | |||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||
Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||
A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. While management believes the Company’s valuation methodologies are appropriate and consistent with other financial institutions, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. | |||||||||||||||||
Investment Securities — The fair values of investment securities are determined by obtaining quoted prices on nationally recognized securities exchanges, if available (Level 1), or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities, which is a Level 2 input. | |||||||||||||||||
Impaired Loans — At the time a loan is considered impaired, it is generally valued at lower of cost or fair value. Impaired loans carried at fair value generally are partially charged off or receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals adjusted for market conditions and costs to sell. Management may apply additional discounts based on changes in the market from the time of valuation. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and the client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | |||||||||||||||||
Other Real Estate Owned (“OREO”) — Real estate properties acquired through loan foreclosure are recorded at estimated fair value, net of estimated selling costs, at time of foreclosure establishing a new cost basis. Fair value is commonly based on real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs used in determining fair value. | |||||||||||||||||
Assets and liabilities measured at fair value are summarized below: | |||||||||||||||||
Fair Value Measurements at | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical Assets | Observable Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
Measured on a recurring basis: | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
U.S. Treasury and government agencies | — | $ | 94,239 | — | $ | 94,239 | |||||||||||
Mortgage-backed securities - residential | — | 337,086 | — | 337,086 | |||||||||||||
Obligations of states and political subdivisions | — | 89,885 | — | 89,885 | |||||||||||||
Other debt securities | — | 979 | — | 979 | |||||||||||||
Mutual funds and other equity securities | $ | 10,152 | — | — | 10,152 | ||||||||||||
Total assets at fair value | $ | 10,152 | $ | 522,189 | — | $ | 532,341 | ||||||||||
Fair Value Measurements at | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical Assets | Observable Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
Measured on a recurring basis: | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
U.S. Treasury and government agencies | — | $ | 93,692 | — | $ | 93,692 | |||||||||||
Mortgage-backed securities - residential | — | 339,695 | — | 339,695 | |||||||||||||
Obligations of states and political subdivisions | — | 89,304 | — | 89,304 | |||||||||||||
Other debt securities | — | 9,529 | — | 9,529 | |||||||||||||
Mutual funds and other equity securities | $ | 9,978 | — | — | 9,978 | ||||||||||||
Total assets at fair value | $ | 9,978 | $ | 532,220 | — | $ | 542,198 | ||||||||||
Measured on a non-recurring basis: | |||||||||||||||||
Impaired loans: (1) | |||||||||||||||||
Commercial Real Estate | — | — | — | — | |||||||||||||
Construction | — | — | — | — | |||||||||||||
Residential | — | — | $ | 380 | $ | 380 | |||||||||||
Commercial & Industrial | — | — | 895 | 895 | |||||||||||||
Total assets at fair value | — | — | $ | 1,275 | $ | 1,275 | |||||||||||
-1 | Impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using Level 2 and Level 3 inputs which include independent appraisals and internally customized discounting criteria. The recorded investment in impaired loans subject to fair value reporting on December 31, 2013 was $1,275 for which no specific allowance has been established within the allowance for loan losses. During 2013, $31 of charge-offs were recorded related to these loans. The level of charge-offs has a direct impact on the determination of the provision for loan losses. The fair values were based on internally customized discounting criteria of the collateral and thus classified as Level 3 fair values. | ||||||||||||||||
There were no financial instruments measured at fair value on a non-recurring basis at March 31, 2014. The table below presents a reconciliation and income statement classification of gains and losses for securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2013: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at beginning of period | $ | 2,950 | |||||||||||||||
Additions to Level 3 | 96 | ||||||||||||||||
Net unrealized gain included in other comprehensive income (1) | 196 | ||||||||||||||||
Principal payments | (204 | ) | |||||||||||||||
Balance at end of period | $ | 3,038 | |||||||||||||||
-1 | Reported under “Gains recognized in comprehensive income” | ||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013: | |||||||||||||||||
Fair Value at | |||||||||||||||||
December 31, 2013 | Valuation | Unobservable | Range | ||||||||||||||
Asset | (In thousands) | Technique | Inputs | (Weighted Average) | |||||||||||||
Impaired loans - residential real estate | $ | 380 | Sales comparison approach | Discounts to appraisals | 0% (0%) | ||||||||||||
for market conditions | |||||||||||||||||
Impaired loans - commercial and industrial | 895 | Sales comparison approach | Discounts to appraisals | 0% (0%) | |||||||||||||
for market conditions |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
9 | Fair Value of Financial Instruments | ||||||||||||||||||||
The Company follows the “Financial Instruments” topic of the FASB Accounting Standards Codification which requires the disclosure of the estimated fair value of certain financial instruments. These estimated fair values as of March 31, 2014 and December 31, 2013 have been determined using available market information and appropriate valuation methodologies. Considerable judgment is required to interpret market data to develop estimates of fair value. The estimates presented are not necessarily indicative of amounts the Company could realize in a current market exchange. The use of alternative market assumptions and estimation methodologies could have had a material effect on these estimates of fair value. | |||||||||||||||||||||
Carrying amount and estimated fair value of financial instruments, not previously presented, at the dates indicated were as follows: | |||||||||||||||||||||
March 31, 2014 | Fair Value Measurements | ||||||||||||||||||||
Carrying | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Amount | Fair | Active Markets for | Other Observable | Unobservable | |||||||||||||||||
Value | Identical Assets | Inputs | Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Held to maturity securities and accrued interest | 6 | 6.2 | — | $ | 6.2 | — | |||||||||||||||
FHLB Stock | 2.7 | N/A | — | — | — | ||||||||||||||||
Loans and accrued interest | 1,665.70 | 1,676.30 | — | — | $ | 1,676.30 | |||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits with no stated maturity and accrued interest | 2,447.50 | 2,447.50 | $ | 2,447.50 | — | — | |||||||||||||||
Time deposits and accrued interest | 114.6 | 114.6 | — | 114.6 | — | ||||||||||||||||
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 31.2 | 31.2 | 31.2 | — | — | ||||||||||||||||
Other borrowings and accrued interest | — | — | — | — | — | ||||||||||||||||
December 31, 2013 | Fair Value Measurements | ||||||||||||||||||||
Carrying | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Amount | Fair | Active Markets for | Other Observable | Unobservable | |||||||||||||||||
Value | Identical Assets | Inputs | Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Held to maturity securities and accrued interest | 6.2 | 6.6 | — | $ | 6.6 | — | |||||||||||||||
FHLB Stock | 3.5 | N/A | — | — | — | ||||||||||||||||
Loans and accrued interest | 1,637.30 | 1,655.60 | — | — | $ | 1,655.60 | |||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits with no stated maturity and accrued interest | 2,517.80 | 2,517.80 | $ | 2,517.80 | — | — | |||||||||||||||
Time deposits and accrued interest | 116.1 | 116.1 | — | 116.1 | — | ||||||||||||||||
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 34.4 | 34.4 | 34.4 | — | — | ||||||||||||||||
Other borrowings and accrued interest | 16.5 | 14.6 | — | 14.6 | — | ||||||||||||||||
The estimated fair value of the indicated items was determined as follows: | |||||||||||||||||||||
Financial assets for which carrying value approximates fair value are excluded from the table — The estimated fair value approximates carrying amount because of the immediate availability of these funds or based on the short maturities and current rates for similar deposits. Cash and due from banks as well as Federal funds sold are reported in this line item. | |||||||||||||||||||||
Held to maturity securities and accrued interest — The fair value of securities held to maturity was estimated based on quoted market prices or dealer quotations. Accrued interest is stated at its carrying amounts which approximates fair value. | |||||||||||||||||||||
FHLB Stock — It is not practicable to determine its fair value due to restrictions placed on its transferability. | |||||||||||||||||||||
Loans and accrued interest — The fair value of loans was estimated by discounting projected cash flows at the reporting date using current rates for similar loans. Accrued interest is stated at its carrying amount which approximates fair value. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||
Deposits with no stated maturity and accrued interest — The estimated fair value of deposits with no stated maturity and accrued interest, as applicable, are considered to be equal to their carrying amounts. | |||||||||||||||||||||
Time deposits and accrued interest — The fair value of time deposits has been estimated by discounting projected cash flows at the reporting date using current rates for similar deposits. Accrued interest is stated at its carrying amount which approximates fair value. | |||||||||||||||||||||
Securities sold under repurchase agreements and other short-term borrowings and accrued interest — The estimated fair value of these instruments approximate carrying amount because of their short maturities and variable rates. Accrued interest is stated at its carrying amount which approximates fair value. | |||||||||||||||||||||
Other borrowings and accrued interest — The fair value of callable FHLB advances was estimated by discounting projected cash flows at the reporting date using the rate applicable to the projected call date option. Accrued interest is stated at its carrying amount which approximates fair value. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive (Loss) Income | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive (Loss) Income | ' | ||||||||||||
10 | Accumulated Other Comprehensive (Loss) Income | ||||||||||||
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale and accrued benefit liability adjustments which are also recognized as separate components of equity. Activity in accumulated other comprehensive income (loss), net of tax, was as follows: | |||||||||||||
Accumulated | |||||||||||||
Securities | Defined | Other | |||||||||||
Available | Benefit | Comprehensive | |||||||||||
For Sale | Plans | Income | |||||||||||
(In thousands) | |||||||||||||
Balance at January 1, 2014 | $ | (5,328 | ) | $ | (1,043 | ) | $ | (6,371 | ) | ||||
Other comprehensive loss before reclassification | 2,383 | — | 2,383 | ||||||||||
Amounts reclassified from accumulated other comprehensive income | (16 | ) | 113 | 97 | |||||||||
Net other comprehensive (loss) income during period | 2,367 | 113 | 2,480 | ||||||||||
Balance at March 31, 2014 | $ | (2,961 | ) | $ | (930 | ) | $ | (3,891 | ) | ||||
Balance at January 1, 2013 | $ | 624 | $ | (1,473 | ) | $ | (849 | ) | |||||
Other comprehensive (loss) income before reclassification | (833 | ) | — | (833 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income | — | 93 | 93 | ||||||||||
Net other comprehensive (loss) income during period | (833 | ) | 93 | (740 | ) | ||||||||
Balance at March 31, 2013 | $ | (209 | ) | $ | (1,380 | ) | $ | (1,589 | ) | ||||
The following table represents the reclassification out of accumulated other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Unrealized gains (losses) on securities available for sale: | |||||||||||||
Realized gains (losses) on securities transactions | $ | 26 | — | ||||||||||
Other-than-temporary impairment charges | — | — | |||||||||||
Income tax expense | (10 | ) | — | ||||||||||
Net of tax | 16 | — | |||||||||||
Amortization of pension and post-retirement benefit items: | |||||||||||||
Amortization of net actuarial loss | (188 | ) | $ | (209 | ) | ||||||||
Amortization of prior service cost | — | 54 | |||||||||||
Income tax expense | 75 | 62 | |||||||||||
Net of tax | (113 | ) | (93 | ) | |||||||||
Total reclassifications, net of tax | $ | (97 | ) | $ | (93 | ) | |||||||
The income statement line items impacted by the reclassification of unrealized gains (losses) on securities available for sale are net impairment loss recognized in earnings and income tax expense. The income statement line items impacted by the reclassification of amortization of pension and post-retirement benefit items are salaries and employee benefits and income tax expense. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Changes And Error Corrections [Abstract] | ' | |
Recent Accounting Pronouncements | ' | |
11 | Recent Accounting Pronouncements | |
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure,” to clarify that when an in substance repossession or foreclosure occurs, 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. ASU 2014- 04 is effective for annual reporting periods beginning after December 15, 2014. The Company is in the process of evaluating the impact of ASU 2014-04 on its consolidated financial statements and processes. |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Receivables - Troubled Debt Restructuring by Creditors | ' |
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure,” to clarify that when an in substance repossession or foreclosure occurs, 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. ASU 2014- 04 is effective for annual reporting periods beginning after December 15, 2014. The Company is in the process of evaluating the impact of ASU 2014-04 on its consolidated financial statements and processes. |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost, Gross Unrealized Gains and Losses and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity | ' | ||||||||||||||||||||||||
The following tables set forth the amortized cost, gross unrealized gains and losses and the estimated fair value of securities classified as available for sale and held to maturity at the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Available for Sale | |||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 94,753 | $ | 57 | $ | 571 | $ | 94,239 | |||||||||||||||||
Mortgage-backed securities - residential | 342,961 | 2,355 | 8,230 | 337,086 | |||||||||||||||||||||
Obligations of states and political subdivisions | 88,651 | 1,332 | 98 | 89,885 | |||||||||||||||||||||
Other debt securities | 976 | 4 | 1 | 979 | |||||||||||||||||||||
Total debt securities | 527,341 | 3,748 | 8,900 | 522,189 | |||||||||||||||||||||
Mutual funds and other equity securities | 9,729 | 772 | 349 | 10,152 | |||||||||||||||||||||
Total | $ | 537,070 | $ | 4,520 | $ | 9,249 | $ | 532,341 | |||||||||||||||||
Amortized | Gross Unrecognized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Held to Maturity | |||||||||||||||||||||||||
Mortgage-backed securities - residential | $ | 2,846 | $ | 236 | — | $ | 3,082 | ||||||||||||||||||
Obligations of states and political subdivisions | 3,105 | 49 | — | 3,154 | |||||||||||||||||||||
Total | $ | 5,951 | $ | 285 | — | $ | 6,236 | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Available for Sale | |||||||||||||||||||||||||
U.S. Treasury and government agencies | $ | 94,427 | $ | 35 | $ | 770 | $ | 93,692 | |||||||||||||||||
Mortgage-backed securities - residential | 349,216 | 2,211 | 11,732 | 339,695 | |||||||||||||||||||||
Obligations of states and political subdivisions | 87,884 | 1,520 | 100 | 89,304 | |||||||||||||||||||||
Other debt securities | 9,529 | 4 | 4 | 9,529 | |||||||||||||||||||||
Total debt securities | 541,056 | 3,770 | 12,606 | 532,220 | |||||||||||||||||||||
Mutual funds and other equity securities | 9,729 | 636 | 387 | 9,978 | |||||||||||||||||||||
Total | $ | 550,785 | $ | 4,406 | $ | 12,993 | $ | 542,198 | |||||||||||||||||
Amortized | Gross Unrecognized | Estimated | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Classified as Held to Maturity | |||||||||||||||||||||||||
Mortgage-backed securities-residential | $ | 3,133 | $ | 249 | — | $ | 3,382 | ||||||||||||||||||
Obligations of states and political subdivisions | 3,105 | 69 | — | 3,174 | |||||||||||||||||||||
Total | $ | 6,238 | $ | 318 | — | $ | 6,556 | ||||||||||||||||||
Change in Pretax OTTI Credit Related Losses on Securities Available for Sale | ' | ||||||||||||||||||||||||
The following table summarizes the change in pretax OTTI credit related losses on securities available for sale for the periods indicated: | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period: | |||||||||||||||||||||||||
Total OTTI credit related impairment charges beginning of period | $ | 11,242 | $ | 10,002 | |||||||||||||||||||||
Increase to the amount related to the credit loss for which other-than-temporary impairment was previously recognized | — | — | |||||||||||||||||||||||
Credit related impairment dispositions | (11,242 | ) | — | ||||||||||||||||||||||
Credit related impairment not previously recognized | — | — | |||||||||||||||||||||||
Balance at end of period: | $ | — | $ | 10,002 | |||||||||||||||||||||
Fair Value and Gross Unrealized Loss, Aggregated by Investment Category and Length of Time Individual Securities | ' | ||||||||||||||||||||||||
The following tables reflect the fair value and gross unrealized loss of the Company’s investments, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, as of the dates indicated: | |||||||||||||||||||||||||
Less Than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
March 31, 2014 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||
U.S. Treasuries and government agencies | $ | 48,637 | $ | 565 | $ | 3,520 | $ | 6 | $ | 52,157 | $ | 571 | |||||||||||||
Mortgage-backed securities - residential | 210,939 | 6,891 | 30,027 | 1,339 | 240,966 | 8,230 | |||||||||||||||||||
Obligations of states and political subdivisions | 10,272 | 96 | 1,010 | 2 | 11,282 | 98 | |||||||||||||||||||
Other debt securities | — | — | 99 | 1 | 99 | 1 | |||||||||||||||||||
Total debt securities | 269,848 | 7,552 | 34,656 | 1,348 | 304,504 | 8,900 | |||||||||||||||||||
Mutual funds and other equity securities | 17 | 1 | 8,820 | 348 | 8,837 | 349 | |||||||||||||||||||
Total temporarily impaired securities | $ | 269,865 | $ | 7,553 | $ | 43,476 | $ | 1,696 | $ | 313,341 | $ | 9,249 | |||||||||||||
Less Than 12 Months | Greater than 12 Months | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
December 31, 2013 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||
U.S. Treasuries and government agencies | $ | 53,299 | $ | 761 | $ | 3,469 | $ | 9 | $ | 56,768 | $ | 770 | |||||||||||||
Mortgage-backed securities - residential | 240,192 | 10,593 | 20,216 | 1,139 | 260,408 | 11,732 | |||||||||||||||||||
Obligations of states and political subdivisions | 8,060 | 94 | 1,322 | 6 | 9,382 | 100 | |||||||||||||||||||
Other debt securities | 203 | 2 | 98 | 2 | 301 | 4 | |||||||||||||||||||
Total debt securities | 301,754 | 11,450 | 25,105 | 1,156 | 326,859 | 12,606 | |||||||||||||||||||
Mutual funds and other equity securities | — | — | 8,785 | 387 | 8,785 | 387 | |||||||||||||||||||
Total temporarily impaired securities | $ | 301,754 | $ | 11,450 | $ | 33,890 | $ | 1,543 | $ | 335,644 | $ | 12,993 | |||||||||||||
Contractual Maturity of All Debt Securities | ' | ||||||||||||||||||||||||
The contractual maturity of all debt securities held at March 31, 2014 is shown below. Actual maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||||||||
Cost | Value | Cost | Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Contractual Maturity | |||||||||||||||||||||||||
Within 1 year | $ | 29,395 | $ | 29,463 | — | — | |||||||||||||||||||
After 1 year but within 5 years | 129,649 | 130,268 | $ | 3,105 | $ | 3,154 | |||||||||||||||||||
After 5 year but within 10 years | 25,336 | 25,372 | — | — | |||||||||||||||||||||
Mortgage-backed securities - residential | 342,961 | 337,086 | 2,846 | 3,082 | |||||||||||||||||||||
Total | $ | 527,341 | $ | 522,189 | $ | 5,951 | $ | 6,236 | |||||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Summary of Loan Portfolio | ' | ||||||||||||||||||||||||
The loan portfolio is comprised of the following: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||
Commercial | $ | 587,366 | $ | 593,476 | |||||||||||||||||||||
Construction | 81,331 | 88,311 | |||||||||||||||||||||||
Residential Multi-Family | 249,661 | 226,898 | |||||||||||||||||||||||
Residential Other | 429,379 | 432,999 | |||||||||||||||||||||||
Commercial & Industrial | 284,025 | 258,578 | |||||||||||||||||||||||
Individuals & Lease Financing | 26,908 | 30,528 | |||||||||||||||||||||||
Total loans | 1,658,670 | 1,630,790 | |||||||||||||||||||||||
Deferred loan costs, net | 1,029 | 1,379 | |||||||||||||||||||||||
Allowance for loan losses | (26,904 | ) | (25,990 | ) | |||||||||||||||||||||
Loans, net | $ | 1,632,795 | $ | 1,606,179 | |||||||||||||||||||||
Allowance for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||||||
The following table presents the allowance for loan losses by portfolio segment for the periods indicated: | |||||||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Charge-offs | (259 | ) | — | — | (217 | ) | (32 | ) | (10 | ) | |||||||||||||||
Recoveries | 1,095 | 787 | 37 | 48 | 131 | 92 | |||||||||||||||||||
Net Recoveries (Charge-offs) | 836 | 787 | 37 | (169 | ) | 99 | 82 | ||||||||||||||||||
Provision for loan losses | 78 | (480 | ) | (364 | ) | 470 | 550 | (98 | ) | ||||||||||||||||
Net change during the period | 914 | 307 | (327 | ) | 301 | 649 | (16 | ) | |||||||||||||||||
Balance at end of period | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
For the three months ended March 31, 2013 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Balance at beginning of period | $ | 26,612 | $ | 10,090 | $ | 3,949 | $ | 8,119 | $ | 4,077 | $ | 377 | |||||||||||||
Charge-offs | (1,725 | ) | (368 | ) | (390 | ) | (548 | ) | (419 | ) | — | ||||||||||||||
Recoveries | 429 | 1 | 3 | 249 | 3 | 173 | |||||||||||||||||||
Net Charge-offs | (1,296 | ) | (367 | ) | (387 | ) | (299 | ) | (416 | ) | 173 | ||||||||||||||
Provision for loan losses | 772 | 1,547 | 997 | (1,400 | ) | (237 | ) | (135 | ) | ||||||||||||||||
Net change during the period | (524 | ) | 1,180 | 610 | (1,699 | ) | (653 | ) | 38 | ||||||||||||||||
Balance at end of period | $ | 26,088 | $ | 11,270 | $ | 4,559 | $ | 6,420 | $ | 3,424 | $ | 415 | |||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment Based on Impairment Method | ' | ||||||||||||||||||||||||
The following tables present the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of the dates indicated: | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending balance attributed to loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
Individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||
Total allowance for loan losses | $ | 26,904 | $ | 11,538 | $ | 4,314 | $ | 6,537 | $ | 4,085 | $ | 430 | |||||||||||||
Total loans: | |||||||||||||||||||||||||
Ending balance of loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,617,614 | $ | 571,828 | $ | 80,452 | $ | 663,577 | $ | 274,849 | $ | 26,908 | |||||||||||||
Individually evaluated for impairment | 41,056 | 15,538 | 879 | 15,463 | 9,176 | — | |||||||||||||||||||
Total loans | $ | 1,658,670 | $ | 587,366 | $ | 81,331 | $ | 679,040 | $ | 284,025 | $ | 26,908 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Total | Commercial | Construction | Residential | Commercial & | Lease | ||||||||||||||||||||
Real Estate | Real Estate | Industrial | Financing | ||||||||||||||||||||||
& Other | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending balance attributed to loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Individually evaluated for impairment | — | — | — | — | — | — | |||||||||||||||||||
Total allowance for loan losses | $ | 25,990 | $ | 11,231 | $ | 4,641 | $ | 6,236 | $ | 3,436 | $ | 446 | |||||||||||||
Total loans: | |||||||||||||||||||||||||
Ending balance of loans: | |||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,589,738 | $ | 580,561 | $ | 87,432 | $ | 642,957 | $ | 248,260 | $ | 30,528 | |||||||||||||
Individually evaluated for impairment | 41,052 | 12,915 | 879 | 16,940 | 10,318 | — | |||||||||||||||||||
Total loans | $ | 1,630,790 | $ | 593,476 | $ | 88,311 | $ | 659,897 | $ | 258,578 | $ | 30,528 | |||||||||||||
Recorded Investments in Non-Accrual Loans and Loans Past Due 90 Days and Still Accruing by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents the recorded investment in non-accrual loans and loans past due 90 days and still accruing by class of loans as of the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Non-Accrual | Past Due | Non-Accrual | Past Due | ||||||||||||||||||||||
90 Days and | 90 Days and | ||||||||||||||||||||||||
Still Accruing | Still Accruing | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 3,670 | — | $ | 3,768 | — | |||||||||||||||||||
Non owner occupied | 2,856 | — | 2,861 | — | |||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 879 | — | 879 | — | |||||||||||||||||||||
Residential | — | — | — | — | |||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | — | — | 1,282 | — | |||||||||||||||||||||
1-4 family | 12,038 | — | 12,164 | — | |||||||||||||||||||||
Home equity | 1,055 | — | 1,113 | — | |||||||||||||||||||||
Commercial & Industrial | 508 | — | 1,422 | — | |||||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | — | — | — | — | |||||||||||||||||||||
Overdrafts | — | — | — | — | |||||||||||||||||||||
Total | $ | 21,006 | — | $ | 23,489 | — | |||||||||||||||||||
Aging of Loans | ' | ||||||||||||||||||||||||
The following table presents the aging of loans (including past due and non-accrual loans) by class of loans as of the dates indicated: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | 31-60 Days | 61-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 161,856 | — | — | $ | 672 | $ | 672 | $ | 161,184 | |||||||||||||||
Non owner occupied | 425,510 | $ | 1,340 | $ | 793 | 2,856 | 4,989 | 420,521 | |||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 42,961 | — | — | 879 | 879 | 42,082 | |||||||||||||||||||
Residential | 38,370 | — | 1,355 | — | 1,355 | 37,015 | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 249,661 | — | — | — | — | 249,661 | |||||||||||||||||||
1-4 family | 314,741 | 3,170 | — | 11,726 | 14,896 | 299,845 | |||||||||||||||||||
Home equity | 114,638 | 549 | 99 | 1,055 | 1,703 | 112,935 | |||||||||||||||||||
Commercial & Industrial | 284,025 | 2,115 | 169 | — | 2,284 | 281,741 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | 25,032 | — | — | — | — | 25,032 | |||||||||||||||||||
Overdrafts | 1,876 | — | — | — | — | 1,876 | |||||||||||||||||||
Total | $ | 1,658,670 | $ | 7,174 | $ | 2,416 | $ | 17,188 | $ | 26,778 | $ | 1,631,892 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | 31-60 Days | 61-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 168,371 | — | $ | 158 | $ | 704 | $ | 862 | $ | 167,509 | ||||||||||||||
Non owner occupied | 425,105 | $ | 200 | — | 2,861 | 3,061 | 422,044 | ||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 47,039 | — | — | 879 | 879 | 46,160 | |||||||||||||||||||
Residential | 41,272 | 1 | — | — | 1 | 41,271 | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 226,898 | — | — | — | — | 226,898 | |||||||||||||||||||
1-4 family | 320,640 | 1,012 | 190 | 11,841 | 13,043 | 307,597 | |||||||||||||||||||
Home equity | 112,359 | 408 | 540 | 1,113 | 2,061 | 110,298 | |||||||||||||||||||
Commercial & Industrial | 258,578 | 1,606 | 321 | 1,365 | 3,292 | 255,286 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing & other | 29,626 | 185 | 4 | — | 189 | 29,437 | |||||||||||||||||||
Overdrafts | 902 | — | — | — | — | 902 | |||||||||||||||||||
Total | $ | 1,630,790 | $ | 3,412 | $ | 1,213 | $ | 18,763 | $ | 23,388 | $ | 1,607,402 | |||||||||||||
Impaired Loans and Recorded Investment in Impaired Loans | ' | ||||||||||||||||||||||||
Impaired loans and the recorded investment in impaired loans as of the dates indicated were as follows: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | Unpaid | Recorded | Allowance for | ||||||||||||||||||||
Principal | Investment | Loan Losses | Principal | Investment | Loan Losses | ||||||||||||||||||||
Balance | Allocated | Balance | Allocated | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 11,505 | $ | 11,238 | — | $ | 10,320 | $ | 10,054 | — | |||||||||||||||
Non owner occupied | 4,300 | 4,300 | — | 2,861 | 2,861 | — | |||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 1,231 | 879 | — | 1,231 | 879 | — | |||||||||||||||||||
Residential | — | — | — | — | — | — | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 1,629 | 1,629 | — | 2,921 | 2,921 | — | |||||||||||||||||||
1-4 family | 14,653 | 12,704 | — | 14,782 | 12,831 | — | |||||||||||||||||||
Home equity | 1,130 | 1,130 | — | 1,705 | 1,188 | — | |||||||||||||||||||
Commercial & Industrial | 9,207 | 9,176 | — | 11,421 | 10,318 | — | |||||||||||||||||||
Lease Financing & Other | — | — | — | — | — | — | |||||||||||||||||||
Total loans | $ | 43,655 | $ | 41,056 | — | $ | 45,241 | $ | 41,052 | — | |||||||||||||||
Average Recorded Investment in Impaired Loans by Portfolio Segment and Interest Recognized on Impaired Loans | ' | ||||||||||||||||||||||||
The following table presents the average recorded investment in impaired loans by portfolio segment and interest recognized on impaired loans for the periods indicated: | |||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 10,644 | $ | 18 | $ | 21,891 | $ | 3 | |||||||||||||||||
Non owner occupied | 3,581 | 77 | 3,187 | 71 | |||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 879 | — | 1,727 | — | |||||||||||||||||||||
Residential | — | — | 2,047 | 11 | |||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 2,275 | 17 | 3,148 | 40 | |||||||||||||||||||||
1-4 family | 12,768 | 10 | 10,910 | — | |||||||||||||||||||||
Home equity | 1,160 | 1 | 837 | — | |||||||||||||||||||||
Commercial & Industrial | 9,747 | 98 | 11,988 | 112 | |||||||||||||||||||||
Lease Financing & Other | — | — | — | — | |||||||||||||||||||||
Total | $ | 41,054 | $ | 221 | $ | 55,735 | $ | 237 | |||||||||||||||||
Loans by Class Modified as Troubled Debt Restructurings | ' | ||||||||||||||||||||||||
The following tables present loans by class modified as TDRs that occurred during the periods indicated: | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Number | Pre-Modification | Post-Modification | ||||||||||||||||||||
of Loans | Outstanding | Outstanding | of Loans | Outstanding | Outstanding | ||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | 1 | $ | 1,299 | $ | 1,299 | — | — | — | |||||||||||||||||
Non owner occupied | 2 | 1,444 | 1,444 | — | — | — | |||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | |||||||||||||||||||
Residential | — | — | — | — | — | — | |||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | — | — | — | — | — | — | |||||||||||||||||||
1-4 family | — | — | — | 4 | $ | 5,211 | $ | 5,025 | |||||||||||||||||
Home equity | — | — | — | — | — | — | |||||||||||||||||||
Commercial & Industrial | — | — | — | — | — | — | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Lease financing and other | — | — | — | — | — | — | |||||||||||||||||||
Overdrafts | — | — | — | — | — | — | |||||||||||||||||||
Total | 3 | $ | 2,743 | $ | 2,743 | 4 | $ | 5,211 | $ | 5,025 | |||||||||||||||
Risk Category by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents the risk category by class of loans as of the dates indicated of non-homogeneous loans individually classified as to credit risk as of the most recent analysis performed: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | Pass | Special | Substandard | Doubtful | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 161,856 | $ | 134,431 | $ | 7,418 | $ | 20,007 | — | ||||||||||||||||
Non owner occupied | 425,510 | 400,233 | 15,801 | 9,476 | — | ||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 42,961 | 36,582 | 5,500 | 879 | — | ||||||||||||||||||||
Residential | 38,370 | 33,960 | 4,410 | — | — | ||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 249,661 | 246,210 | 2,538 | 913 | — | ||||||||||||||||||||
1-4 family | 57,881 | 36,536 | 4,234 | 17,111 | — | ||||||||||||||||||||
Home equity | 3,553 | 1,727 | — | 1,826 | — | ||||||||||||||||||||
Commercial & Industrial | 284,025 | 274,239 | 6,772 | 3,014 | — | ||||||||||||||||||||
Lease Financing & Other | 24,155 | 23,885 | — | 270 | — | ||||||||||||||||||||
Total loans | $ | 1,287,972 | $ | 1,187,803 | $ | 46,673 | $ | 53,496 | — | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | Pass | Special | Substandard | Doubtful | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Owner occupied | $ | 168,371 | $ | 139,108 | $ | 6,342 | $ | 22,921 | — | ||||||||||||||||
Non owner occupied | 425,105 | 399,009 | 14,024 | 12,072 | — | ||||||||||||||||||||
Construction: | |||||||||||||||||||||||||
Commercial | 47,039 | 46,160 | — | 879 | — | ||||||||||||||||||||
Residential | 41,272 | 37,931 | 3,341 | — | — | ||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
Multifamily | 226,898 | 222,147 | 2,550 | 2,201 | — | ||||||||||||||||||||
1-4 family | 61,440 | 42,158 | 2,008 | 17,274 | — | ||||||||||||||||||||
Home equity | 1,146 | 34 | — | 1,112 | — | ||||||||||||||||||||
Commercial & Industrial | 258,578 | 249,238 | 5,207 | 4,133 | — | ||||||||||||||||||||
Lease Financing & Other | 28,661 | 28,391 | — | 270 | — | ||||||||||||||||||||
Total loans | $ | 1,258,510 | $ | 1,164,176 | $ | 33,472 | $ | 60,862 | — | ||||||||||||||||
Delinquency Categories by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents the delinquency categories by class of loans as of the dates indicated for loans evaluated for risk in groups of homogeneous loans: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Total | 31-59 Days | 60-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
1-4 family | $ | 256,860 | $ | 1,107 | — | — | $ | 1,107 | $ | 255,753 | |||||||||||||||
Home equity | 111,085 | 301 | — | — | 301 | 110,784 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Other loans | 877 | — | — | — | — | 877 | |||||||||||||||||||
Overdrafts | 1,876 | — | — | — | — | 1,876 | |||||||||||||||||||
Total loans | $ | 370,698 | $ | 1,408 | — | — | $ | 1,408 | $ | 369,290 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total | 31-59 Days | 60-89 Days | 90 Days | Total | Current | ||||||||||||||||||||
Past Due | Past Due | Or More | Past Due | ||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||
1-4 family | $ | 259,201 | $ | 705 | $ | 115 | — | $ | 820 | $ | 258,381 | ||||||||||||||
Home equity | 111,212 | 408 | 540 | — | 948 | 110,264 | |||||||||||||||||||
Other: | |||||||||||||||||||||||||
Other loans | 965 | 23 | 4 | — | 27 | 938 | |||||||||||||||||||
Overdrafts | 902 | — | — | — | — | 902 | |||||||||||||||||||
Total loans | $ | 372,280 | $ | 1,136 | $ | 659 | — | $ | 1,795 | $ | 370,485 | ||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Calculation of Earnings Per Share | ' | ||||||||
The following table presents the calculation of earnings per share for the periods indicated: | |||||||||
Three Months Ended | |||||||||
March 31 | |||||||||
2014 | 2013 | ||||||||
(Dollars in thousands) | |||||||||
Net income | $ | 1,602 | $ | 3,651 | |||||
Less: Dividends paid on and earnings allocated to participating securities | 22 | 43 | |||||||
Income attributable to common stock | $ | 1,580 | $ | 3,608 | |||||
Weighted average common shares outstanding, including participating securities | 19,983,449 | 19,810,845 | |||||||
Less: Weighted average participating securities | 292,173 | 247,762 | |||||||
Weighted average common shares outstanding | 19,691,276 | 19,563,083 | |||||||
Basic earnings per common share | $ | 0.08 | $ | 0.18 | |||||
Income attributable to common stock | $ | 1,580 | $ | 3,608 | |||||
Weighted average common shares outstanding | 19,691,276 | 19,563,083 | |||||||
Weighted average common equivalent shares outstanding | 27,719 | — | |||||||
Weighted average common and equivalent shares outstanding | 19,718,995 | 19,563,083 | |||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.18 | |||||
Dividends per common share | $ | 0.06 | $ | 0.06 | |||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Components of Net Periodic Pension Cost | ' | ||||||||
The following table summarizes the components of the net periodic pension cost of the defined benefit plans. | |||||||||
Three Months Ended | |||||||||
March 31 | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Service cost | $ | 109 | $ | 131 | |||||
Interest cost | 153 | 151 | |||||||
Amortization of prior service cost | — | (54 | ) | ||||||
Amortization of net loss | 188 | 209 | |||||||
Net periodic pension cost | $ | 450 | $ | 437 | |||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
The following table summarizes stock-based compensation activity for the three month period ended March 31, 2014: | |||||||||||||||||
Prior Option Plans (1): | Shares | Weighted | Aggregate | Weighted Average | |||||||||||||
Average Grant or | Intrinsic | Remaining | |||||||||||||||
Exercise Price | Value (2) (In thousands) | Contractual Term | |||||||||||||||
Outstanding at December 31, 2013 | 295,627 | $ | 21.62 | ||||||||||||||
Granted | — | — | |||||||||||||||
Exercised | (6,413 | ) | 18.78 | ||||||||||||||
Cancelled or Expired | (9,757 | ) | 22.67 | ||||||||||||||
Outstanding at March 31, 2014 | 279,457 | 21.65 | $ | 70 | 1.3 | ||||||||||||
Exercisable at March 31, 2014 | 279,457 | 21.65 | 70 | 1.3 | |||||||||||||
Non-vested at March 31, 2014 | — | — | |||||||||||||||
2010 Omnibus Incentive Plan: | |||||||||||||||||
Non-vested at December 31, 2013 | 251,274 | $ | 16.3 | ||||||||||||||
Granted at fair value | 169,626 | 18.18 | |||||||||||||||
Restriction released | (35,242 | ) | 16.45 | ||||||||||||||
Cancelled | — | — | |||||||||||||||
Non-vested at March 31, 2014 | 385,658 | 17.12 | |||||||||||||||
Available for grant at December 31, 2013 | 968,762 | ||||||||||||||||
Restricted stock awards | (169,626 | ) | $ | 18.12 | |||||||||||||
Unissued or cancelled | 58,742 | 16.23 | |||||||||||||||
Available for future grant | 857,878 | ||||||||||||||||
-1 | 2010 Omnibus Incentive Plan includes restricted stock awards while prior option plans do not. | ||||||||||||||||
-2 | The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current fair value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on March 31, 2014. This amount changes based on the fair value of the Company’s stock. |
Fair_Value_Tables
Fair Value (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value | ' | ||||||||||||||||
Assets and liabilities measured at fair value are summarized below: | |||||||||||||||||
Fair Value Measurements at | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical Assets | Observable Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
Measured on a recurring basis: | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
U.S. Treasury and government agencies | — | $ | 94,239 | — | $ | 94,239 | |||||||||||
Mortgage-backed securities - residential | — | 337,086 | — | 337,086 | |||||||||||||
Obligations of states and political subdivisions | — | 89,885 | — | 89,885 | |||||||||||||
Other debt securities | — | 979 | — | 979 | |||||||||||||
Mutual funds and other equity securities | $ | 10,152 | — | — | 10,152 | ||||||||||||
Total assets at fair value | $ | 10,152 | $ | 522,189 | — | $ | 532,341 | ||||||||||
Fair Value Measurements at | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical Assets | Observable Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
(In thousands) | |||||||||||||||||
Measured on a recurring basis: | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
U.S. Treasury and government agencies | — | $ | 93,692 | — | $ | 93,692 | |||||||||||
Mortgage-backed securities - residential | — | 339,695 | — | 339,695 | |||||||||||||
Obligations of states and political subdivisions | — | 89,304 | — | 89,304 | |||||||||||||
Other debt securities | — | 9,529 | — | 9,529 | |||||||||||||
Mutual funds and other equity securities | $ | 9,978 | — | — | 9,978 | ||||||||||||
Total assets at fair value | $ | 9,978 | $ | 532,220 | — | $ | 542,198 | ||||||||||
Measured on a non-recurring basis: | |||||||||||||||||
Impaired loans: (1) | |||||||||||||||||
Commercial Real Estate | — | — | — | — | |||||||||||||
Construction | — | — | — | — | |||||||||||||
Residential | — | — | $ | 380 | $ | 380 | |||||||||||
Commercial & Industrial | — | — | 895 | 895 | |||||||||||||
Total assets at fair value | — | — | $ | 1,275 | $ | 1,275 | |||||||||||
-1 | Impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using Level 2 and Level 3 inputs which include independent appraisals and internally customized discounting criteria. The recorded investment in impaired loans subject to fair value reporting on December 31, 2013 was $1,275 for which no specific allowance has been established within the allowance for loan losses. During 2013, $31 of charge-offs were recorded related to these loans. The level of charge-offs has a direct impact on the determination of the provision for loan losses. The fair values were based on internally customized discounting criteria of the collateral and thus classified as Level 3 fair values. | ||||||||||||||||
Reconciliation and Income Statement Classification of Gains and Losses for Securities Available for Sale Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The table below presents a reconciliation and income statement classification of gains and losses for securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2013: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at beginning of period | $ | 2,950 | |||||||||||||||
Additions to Level 3 | 96 | ||||||||||||||||
Net unrealized gain included in other comprehensive income (1) | 196 | ||||||||||||||||
Principal payments | (204 | ) | |||||||||||||||
Balance at end of period | $ | 3,038 | |||||||||||||||
-1 | Reported under “Gains recognized in comprehensive income” | ||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | ||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013: | |||||||||||||||||
Fair Value at | |||||||||||||||||
December 31, 2013 | Valuation | Unobservable | Range | ||||||||||||||
Asset | (In thousands) | Technique | Inputs | (Weighted Average) | |||||||||||||
Impaired loans - residential real estate | $ | 380 | Sales comparison approach | Discounts to appraisals | 0% (0%) | ||||||||||||
for market conditions | |||||||||||||||||
Impaired loans - commercial and industrial | 895 | Sales comparison approach | Discounts to appraisals | 0% (0%) | |||||||||||||
for market conditions |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Investments All Other Investments [Abstract] | ' | ||||||||||||||||||||
Carrying Amount and Estimated Fair Value of Financial Instruments | ' | ||||||||||||||||||||
Carrying amount and estimated fair value of financial instruments, not previously presented, at the dates indicated were as follows: | |||||||||||||||||||||
March 31, 2014 | Fair Value Measurements | ||||||||||||||||||||
Carrying | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Amount | Fair | Active Markets for | Other Observable | Unobservable | |||||||||||||||||
Value | Identical Assets | Inputs | Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Held to maturity securities and accrued interest | 6 | 6.2 | — | $ | 6.2 | — | |||||||||||||||
FHLB Stock | 2.7 | N/A | — | — | — | ||||||||||||||||
Loans and accrued interest | 1,665.70 | 1,676.30 | — | — | $ | 1,676.30 | |||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits with no stated maturity and accrued interest | 2,447.50 | 2,447.50 | $ | 2,447.50 | — | — | |||||||||||||||
Time deposits and accrued interest | 114.6 | 114.6 | — | 114.6 | — | ||||||||||||||||
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 31.2 | 31.2 | 31.2 | — | — | ||||||||||||||||
Other borrowings and accrued interest | — | — | — | — | — | ||||||||||||||||
December 31, 2013 | Fair Value Measurements | ||||||||||||||||||||
Carrying | Total | Quoted Prices in | Significant | Significant | |||||||||||||||||
Amount | Fair | Active Markets for | Other Observable | Unobservable | |||||||||||||||||
Value | Identical Assets | Inputs | Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
(In millions) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Held to maturity securities and accrued interest | 6.2 | 6.6 | — | $ | 6.6 | — | |||||||||||||||
FHLB Stock | 3.5 | N/A | — | — | — | ||||||||||||||||
Loans and accrued interest | 1,637.30 | 1,655.60 | — | — | $ | 1,655.60 | |||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits with no stated maturity and accrued interest | 2,517.80 | 2,517.80 | $ | 2,517.80 | — | — | |||||||||||||||
Time deposits and accrued interest | 116.1 | 116.1 | — | 116.1 | — | ||||||||||||||||
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 34.4 | 34.4 | 34.4 | — | — | ||||||||||||||||
Other borrowings and accrued interest | 16.5 | 14.6 | — | 14.6 | — |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive (Loss) Income (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Activity in Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ||||||||||||
Activity in accumulated other comprehensive income (loss), net of tax, was as follows: | |||||||||||||
Accumulated | |||||||||||||
Securities | Defined | Other | |||||||||||
Available | Benefit | Comprehensive | |||||||||||
For Sale | Plans | Income | |||||||||||
(In thousands) | |||||||||||||
Balance at January 1, 2014 | $ | (5,328 | ) | $ | (1,043 | ) | $ | (6,371 | ) | ||||
Other comprehensive loss before reclassification | 2,383 | — | 2,383 | ||||||||||
Amounts reclassified from accumulated other comprehensive income | (16 | ) | 113 | 97 | |||||||||
Net other comprehensive (loss) income during period | 2,367 | 113 | 2,480 | ||||||||||
Balance at March 31, 2014 | $ | (2,961 | ) | $ | (930 | ) | $ | (3,891 | ) | ||||
Balance at January 1, 2013 | $ | 624 | $ | (1,473 | ) | $ | (849 | ) | |||||
Other comprehensive (loss) income before reclassification | (833 | ) | — | (833 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income | — | 93 | 93 | ||||||||||
Net other comprehensive (loss) income during period | (833 | ) | 93 | (740 | ) | ||||||||
Balance at March 31, 2013 | $ | (209 | ) | $ | (1,380 | ) | $ | (1,589 | ) | ||||
Schedule of Reclassification Out of Accumulated Other Comprehensive Income | ' | ||||||||||||
The following table represents the reclassification out of accumulated other comprehensive income for the periods indicated: | |||||||||||||
Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Unrealized gains (losses) on securities available for sale: | |||||||||||||
Realized gains (losses) on securities transactions | $ | 26 | — | ||||||||||
Other-than-temporary impairment charges | — | — | |||||||||||
Income tax expense | (10 | ) | — | ||||||||||
Net of tax | 16 | — | |||||||||||
Amortization of pension and post-retirement benefit items: | |||||||||||||
Amortization of net actuarial loss | (188 | ) | $ | (209 | ) | ||||||||
Amortization of prior service cost | — | 54 | |||||||||||
Income tax expense | 75 | 62 | |||||||||||
Net of tax | (113 | ) | (93 | ) | |||||||||
Total reclassifications, net of tax | $ | (97 | ) | $ | (93 | ) | |||||||
Description_of_Operations_Addi
Description of Operations - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Branch | Branch | |
Product Information [Line Items] | ' | ' |
Number of branches consolidated | ' | 6 |
Westchester County, New York [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Number of branch offices | 17 | ' |
Number of branches consolidated | ' | 1 |
Manhattan, New York [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Number of branch offices | 4 | ' |
Number of branches consolidated | ' | 1 |
Bronx County, New York [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Number of branch offices | 4 | ' |
Rockland County, New York [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Number of branch offices | 2 | ' |
Kings County, New York [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Number of branch offices | 1 | ' |
Securities_Amortized_Cost_Gros
Securities - Amortized Cost, Gross Unrealized Gains and Losses and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | $537,070 | $550,785 |
Available for Sale Securities, Gross Unrealized Gains | 4,520 | 4,406 |
Available for Sale Securities, Gross Unrealized Losses | 9,249 | 12,993 |
Available for Sale Securities, Estimated Fair Value | 532,341 | 542,198 |
Held To Maturity Securities, Amortized Cost | 5,951 | 6,238 |
Held To Maturity Securities, Gross Unrealized Gains | 285 | 318 |
Held To Maturity Securities, Gross Unrealized Losses | ' | ' |
Held To Maturity Securities, Estimated Fair Value | 6,236 | 6,556 |
Mortgage-Backed Securities - Residential [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 342,961 | 349,216 |
Available for Sale Securities, Gross Unrealized Gains | 2,355 | 2,211 |
Available for Sale Securities, Gross Unrealized Losses | 8,230 | 11,732 |
Available for Sale Securities, Estimated Fair Value | 337,086 | 339,695 |
Held To Maturity Securities, Amortized Cost | 2,846 | 3,133 |
Held To Maturity Securities, Gross Unrealized Gains | 236 | 249 |
Held To Maturity Securities, Gross Unrealized Losses | ' | ' |
Held To Maturity Securities, Estimated Fair Value | 3,082 | 3,382 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 88,651 | 87,884 |
Available for Sale Securities, Gross Unrealized Gains | 1,332 | 1,520 |
Available for Sale Securities, Gross Unrealized Losses | 98 | 100 |
Available for Sale Securities, Estimated Fair Value | 89,885 | 89,304 |
Held To Maturity Securities, Amortized Cost | 3,105 | 3,105 |
Held To Maturity Securities, Gross Unrealized Gains | 49 | 69 |
Held To Maturity Securities, Gross Unrealized Losses | ' | ' |
Held To Maturity Securities, Estimated Fair Value | 3,154 | 3,174 |
U.S. Treasury and Government Agencies [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 94,753 | 94,427 |
Available for Sale Securities, Gross Unrealized Gains | 57 | 35 |
Available for Sale Securities, Gross Unrealized Losses | 571 | 770 |
Available for Sale Securities, Estimated Fair Value | 94,239 | 93,692 |
Other Debt Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 976 | 9,529 |
Available for Sale Securities, Gross Unrealized Gains | 4 | 4 |
Available for Sale Securities, Gross Unrealized Losses | 1 | 4 |
Available for Sale Securities, Estimated Fair Value | 979 | 9,529 |
Debt Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 527,341 | 541,056 |
Available for Sale Securities, Gross Unrealized Gains | 3,748 | 3,770 |
Available for Sale Securities, Gross Unrealized Losses | 8,900 | 12,606 |
Available for Sale Securities, Estimated Fair Value | 522,189 | 532,220 |
Mutual Funds and Other Equity Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available for Sale Securities, Amortized Cost | 9,729 | 9,729 |
Available for Sale Securities, Gross Unrealized Gains | 772 | 636 |
Available for Sale Securities, Gross Unrealized Losses | 349 | 387 |
Available for Sale Securities, Estimated Fair Value | $10,152 | $9,978 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Securities | Securities | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' |
Available-for-sale securities, amortized cost | $537,070 | ' | $550,785 |
Accumulated other-than-temporary impairment losses | 0 | 0 | 11,242 |
Carrying value of investment securities which are pledged | 184,418 | ' | 216,051 |
Held to maturity securities in unrealized loss position | ' | ' | ' |
Number of securities in unrealized loss position | 212 | ' | 215 |
Pooled Trust Preferred Securities [Member] | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' |
Available-for-sale securities, amortized cost | ' | ' | 19,995 |
Available-for-sale securities, carrying value | ' | ' | $8,753 |
Securities_Change_in_Pretax_OT
Securities - Change in Pretax OTTI Credit Related Losses on Securities Available for Sale (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Balance at beginning of period: | ' | ' |
Total OTTI credit related impairment charges beginning of period | $11,242 | $10,002 |
Increase to the amount related to the credit loss for which other-than-temporary impairment was previously recognized | ' | ' |
Credit related impairment dispositions | -11,242 | ' |
Credit related impairment not previously recognized | ' | ' |
Balance at end of period: | ' | $10,002 |
Securities_Fair_Value_and_Gros
Securities - Fair Value and Gross Unrealized Loss, Aggregated by Investment Category and Length of Time Individual Securities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
U.S. Treasury and Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | $48,637 | $53,299 |
Less Than 12 Months, Gross Unrealized Loss | 565 | 761 |
Greater than 12 Months, Fair Value | 3,520 | 3,469 |
Greater than 12 Months, Gross Unrealized Loss | 6 | 9 |
Fair Value | 52,157 | 56,768 |
Gross Unrealized Loss | 571 | 770 |
Mortgage-Backed Securities - Residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 210,939 | 240,192 |
Less Than 12 Months, Gross Unrealized Loss | 6,891 | 10,593 |
Greater than 12 Months, Fair Value | 30,027 | 20,216 |
Greater than 12 Months, Gross Unrealized Loss | 1,339 | 1,139 |
Fair Value | 240,966 | 260,408 |
Gross Unrealized Loss | 8,230 | 11,732 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 10,272 | 8,060 |
Less Than 12 Months, Gross Unrealized Loss | 96 | 94 |
Greater than 12 Months, Fair Value | 1,010 | 1,322 |
Greater than 12 Months, Gross Unrealized Loss | 2 | 6 |
Fair Value | 11,282 | 9,382 |
Gross Unrealized Loss | 98 | 100 |
Other Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | ' | 203 |
Less Than 12 Months, Gross Unrealized Loss | ' | 2 |
Greater than 12 Months, Fair Value | 99 | 98 |
Greater than 12 Months, Gross Unrealized Loss | 1 | 2 |
Fair Value | 99 | 301 |
Gross Unrealized Loss | 1 | 4 |
Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 269,848 | 301,754 |
Less Than 12 Months, Gross Unrealized Loss | 7,552 | 11,450 |
Greater than 12 Months, Fair Value | 34,656 | 25,105 |
Greater than 12 Months, Gross Unrealized Loss | 1,348 | 1,156 |
Fair Value | 304,504 | 326,859 |
Gross Unrealized Loss | 8,900 | 12,606 |
Mutual Funds and Other Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 17 | ' |
Less Than 12 Months, Gross Unrealized Loss | 1 | ' |
Greater than 12 Months, Fair Value | 8,820 | 8,785 |
Greater than 12 Months, Gross Unrealized Loss | 348 | 387 |
Fair Value | 8,837 | 8,785 |
Gross Unrealized Loss | 349 | 387 |
Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 269,865 | 301,754 |
Less Than 12 Months, Gross Unrealized Loss | 7,553 | 11,450 |
Greater than 12 Months, Fair Value | 43,476 | 33,890 |
Greater than 12 Months, Gross Unrealized Loss | 1,696 | 1,543 |
Fair Value | 313,341 | 335,644 |
Gross Unrealized Loss | $9,249 | $12,993 |
Securities_Contractual_Maturit
Securities - Contractual Maturity of All Debt Securities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Available for Sale | ' | ' |
Within 1 year, Amortized Cost | $29,395 | ' |
After 1 year but within 5 years, Amortized Cost | 129,649 | ' |
After 5 year but within 10 years, Amortized Cost | 25,336 | ' |
Mortgage-backed securities - residential, Amortized Cost | 342,961 | ' |
Total, Amortized Cost | 527,341 | ' |
Within 1 year, Fair Value | 29,463 | ' |
After 1 year but within 5 years, Fair Value | 130,268 | ' |
After 5 year but within 10 years, Fair Value | 25,372 | ' |
Mortgage-backed securities - residential, Fair Value | 337,086 | ' |
Total, Fair Value | 522,189 | ' |
Held to Maturity | ' | ' |
Within 1 year, Amortized Cost | ' | ' |
After 1 year but within 5 years, Amortized Cost | 3,105 | ' |
After 5 year but within 10 years, Amortized Cost | ' | ' |
Mortgage-backed securities -residential, Amortized Cost | 2,846 | ' |
Total, Amortized Cost | 5,951 | 6,238 |
Within 1 year, Fair Value | ' | ' |
After 1 year but within 5 years, Fair Value | 3,154 | ' |
After 5 year but within 10 years, Fair Value | ' | ' |
Mortgage-backed securities -residential, Fair Value | 3,082 | ' |
Held To Maturity Securities, Estimated Fair Value | $6,236 | $6,556 |
Loans_Summary_of_Loan_Portfoli
Loans - Summary of Loan Portfolio (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | $1,658,670 | $1,630,790 |
Deferred loan costs, net | 1,029 | 1,379 |
Allowance for loan losses | -26,904 | -25,990 |
Loans, net | 1,632,795 | 1,606,179 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 587,366 | 593,476 |
Construction Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 81,331 | 88,311 |
Residential Real Estate Multifamily [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 249,661 | 226,898 |
Other Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 429,379 | 432,999 |
Commercial & Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | 284,025 | 258,578 |
Individuals & Lease Financing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total loans | $26,908 | $30,528 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
TDRs | TDRs | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Gross interest income that would have been recorded if borrowers had been current in accordance with their original loan terms | $272,000 | $528,000 | ' |
Interest income on non accrual loans | 0 | 0 | ' |
TDRs impaired loans | 31,904,000 | ' | 30,864,000 |
Number of TDR's on accrual status | 12 | ' | ' |
Troubled debt restructurings carrying amounts accrual status | 20,001,000 | ' | ' |
Payment default under modified terms | '45 days | ' | ' |
Payment default of TDRs under modification | 0 | 0 | ' |
Total loan | 1,658,670,000 | ' | 1,630,790,000 |
Trouble debt restructuring charge offs | 0 | 186,000 | ' |
Troubled Debt Restructurings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loan | 4,074,000 | 4,069,000 | ' |
Minimum [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Maturity terms of available loans | '6 months | ' | ' |
Maturity terms of available loans, extension option | '6 months | ' | ' |
Maximum [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Maturity terms of available loans | ' | '15 years | ' |
Maturity terms of available loans, extension option | ' | '3 years | ' |
Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Maximum multi-family loans per transaction | $7,500,000 | ' | ' |
Maturity terms of available loans, extension option | '5 years | ' | ' |
Debt amortization period | '30 years | ' | ' |
Maximum loan to value ratio | 75.00% | ' | ' |
Residential [Member] | Minimum [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Maturity terms of available loans | '7 years | ' | ' |
Debt service coverage ratio | 1 | ' | ' |
Residential [Member] | Maximum [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Maturity terms of available loans | '10 years | ' | ' |
Debt service coverage ratio | 1.2 | ' | ' |
Loans_Allowance_for_Loan_Losse
Loans - Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | $25,990 | $26,612 |
Charge-offs | -259 | -1,725 |
Recoveries | 1,095 | 429 |
Net Recoveries (Charge-offs) | 836 | -1,296 |
Provision for loan losses | 78 | 772 |
Net change during the period | 914 | -524 |
Balance at end of period | 26,904 | 26,088 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | 11,231 | 10,090 |
Charge-offs | ' | -368 |
Recoveries | 787 | 1 |
Net Recoveries (Charge-offs) | 787 | -367 |
Provision for loan losses | -480 | 1,547 |
Net change during the period | 307 | 1,180 |
Balance at end of period | 11,538 | 11,270 |
Construction Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | 4,641 | 3,949 |
Charge-offs | ' | -390 |
Recoveries | 37 | 3 |
Net Recoveries (Charge-offs) | 37 | -387 |
Provision for loan losses | -364 | 997 |
Net change during the period | -327 | 610 |
Balance at end of period | 4,314 | 4,559 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | 6,236 | 8,119 |
Charge-offs | -217 | -548 |
Recoveries | 48 | 249 |
Net Recoveries (Charge-offs) | -169 | -299 |
Provision for loan losses | 470 | -1,400 |
Net change during the period | 301 | -1,699 |
Balance at end of period | 6,537 | 6,420 |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | 3,436 | 4,077 |
Charge-offs | -32 | -419 |
Recoveries | 131 | 3 |
Net Recoveries (Charge-offs) | 99 | -416 |
Provision for loan losses | 550 | -237 |
Net change during the period | 649 | -653 |
Balance at end of period | 4,085 | 3,424 |
Lease Financing & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Balance at beginning of period | 446 | 377 |
Charge-offs | -10 | ' |
Recoveries | 92 | 173 |
Net Recoveries (Charge-offs) | 82 | 173 |
Provision for loan losses | -98 | -135 |
Net change during the period | -16 | 38 |
Balance at end of period | $430 | $415 |
Loans_Allowance_for_Loan_Losse1
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment Based on Impairment Method (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | $26,904 | $25,990 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 26,904 | 25,990 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 1,617,614 | 1,589,738 |
Individually evaluated for impairment | 41,056 | 41,052 |
Total loans | 1,658,670 | 1,630,790 |
Commercial Real Estate [Member] | ' | ' |
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | 11,538 | 11,231 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 11,538 | 11,231 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 571,828 | 580,561 |
Individually evaluated for impairment | 15,538 | 12,915 |
Total loans | 587,366 | 593,476 |
Construction [Member] | ' | ' |
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | 4,314 | 4,641 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 4,314 | 4,641 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 80,452 | 87,432 |
Individually evaluated for impairment | 879 | 879 |
Total loans | 81,331 | 88,311 |
Residential Real Estate [Member] | ' | ' |
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | 6,537 | 6,236 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 6,537 | 6,236 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 663,577 | 642,957 |
Individually evaluated for impairment | 15,463 | 16,940 |
Total loans | 679,040 | 659,897 |
Commercial & Industrial [Member] | ' | ' |
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | 4,085 | 3,436 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 4,085 | 3,436 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 274,849 | 248,260 |
Individually evaluated for impairment | 9,176 | 10,318 |
Total loans | 284,025 | 258,578 |
Lease Financing & Other [Member] | ' | ' |
Ending balance attributed to loans: | ' | ' |
Collectively evaluated for impairment | 430 | 446 |
Individually evaluated for impairment | ' | ' |
Total allowance for loan losses | 430 | 446 |
Ending balance of loans: | ' | ' |
Collectively evaluated for impairment | 26,908 | 30,528 |
Total loans | $26,908 | $30,528 |
Loans_Recorded_Investments_in_
Loans - Recorded Investments in Non-Accrual Loans and Loans Past Due 90 Days and Still Accruing by Class of Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | $21,006 | $23,489 |
Past Due 90 Days and Still Accruing | ' | ' |
Owner Occupied [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 3,670 | 3,768 |
Past Due 90 Days and Still Accruing | ' | ' |
Non Owner Occupied [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 2,856 | 2,861 |
Past Due 90 Days and Still Accruing | ' | ' |
Commercial [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 879 | 879 |
Past Due 90 Days and Still Accruing | ' | ' |
Residential [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | ' | ' |
Past Due 90 Days and Still Accruing | ' | ' |
Multifamily [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | ' | 1,282 |
Past Due 90 Days and Still Accruing | ' | ' |
1-4 family [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 12,038 | 12,164 |
Past Due 90 Days and Still Accruing | ' | ' |
Home Equity [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 1,055 | 1,113 |
Past Due 90 Days and Still Accruing | ' | ' |
Commercial & Industrial [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | 508 | 1,422 |
Past Due 90 Days and Still Accruing | ' | ' |
Lease Financing & Other [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | ' | ' |
Past Due 90 Days and Still Accruing | ' | ' |
Overdrafts [Member] | ' | ' |
Recorded investments in non-accrual loans and loans past due ninety days and still accruing by class of loans | ' | ' |
Non-Accrual | ' | ' |
Past Due 90 Days and Still Accruing | ' | ' |
Loans_Aging_of_Loans_Detail
Loans - Aging of Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | $1,658,670 | $1,630,790 |
31-60 Days Past Due | 7,174 | 3,412 |
61-89 Days Past Due | 2,416 | 1,213 |
90 Days Or More Past Due | 17,188 | 18,763 |
Total Past Due | 26,778 | 23,388 |
Current | 1,631,892 | 1,607,402 |
Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 161,856 | 168,371 |
31-60 Days Past Due | ' | ' |
61-89 Days Past Due | ' | 158 |
90 Days Or More Past Due | 672 | 704 |
Total Past Due | 672 | 862 |
Current | 161,184 | 167,509 |
Non Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 425,510 | 425,105 |
31-60 Days Past Due | 1,340 | 200 |
61-89 Days Past Due | 793 | ' |
90 Days Or More Past Due | 2,856 | 2,861 |
Total Past Due | 4,989 | 3,061 |
Current | 420,521 | 422,044 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 42,961 | 47,039 |
31-60 Days Past Due | ' | ' |
61-89 Days Past Due | ' | ' |
90 Days Or More Past Due | 879 | 879 |
Total Past Due | 879 | 879 |
Current | 42,082 | 46,160 |
Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 38,370 | 41,272 |
31-60 Days Past Due | ' | 1 |
61-89 Days Past Due | 1,355 | ' |
90 Days Or More Past Due | ' | ' |
Total Past Due | 1,355 | 1 |
Current | 37,015 | 41,271 |
Multifamily [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 249,661 | 226,898 |
31-60 Days Past Due | ' | ' |
61-89 Days Past Due | ' | ' |
90 Days Or More Past Due | ' | ' |
Total Past Due | ' | ' |
Current | 249,661 | 226,898 |
1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 314,741 | 320,640 |
31-60 Days Past Due | 3,170 | 1,012 |
61-89 Days Past Due | ' | 190 |
90 Days Or More Past Due | 11,726 | 11,841 |
Total Past Due | 14,896 | 13,043 |
Current | 299,845 | 307,597 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 114,638 | 112,359 |
31-60 Days Past Due | 549 | 408 |
61-89 Days Past Due | 99 | 540 |
90 Days Or More Past Due | 1,055 | 1,113 |
Total Past Due | 1,703 | 2,061 |
Current | 112,935 | 110,298 |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 284,025 | 258,578 |
31-60 Days Past Due | 2,115 | 1,606 |
61-89 Days Past Due | 169 | 321 |
90 Days Or More Past Due | ' | 1,365 |
Total Past Due | 2,284 | 3,292 |
Current | 281,741 | 255,286 |
Lease Financing & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 25,032 | 29,626 |
31-60 Days Past Due | ' | 185 |
61-89 Days Past Due | ' | 4 |
90 Days Or More Past Due | ' | ' |
Total Past Due | ' | 189 |
Current | 25,032 | 29,437 |
Overdrafts [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable, Net, Total | 1,876 | 902 |
31-60 Days Past Due | ' | ' |
61-89 Days Past Due | ' | ' |
90 Days Or More Past Due | ' | ' |
Total Past Due | ' | ' |
Current | $1,876 | $902 |
Loans_Impaired_Loans_and_Recor
Loans - Impaired Loans and Recorded Investment in Impaired Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, Total | $43,655 | $45,241 |
Recorded Investment, Total | 41,056 | 41,052 |
Allowance for Loan Losses Allocated, Total | ' | ' |
Owner Occupied [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 11,505 | 10,320 |
Recorded Investment, With no related allowance recorded | 11,238 | 10,054 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Non Owner Occupied [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 4,300 | 2,861 |
Recorded Investment, With no related allowance recorded | 4,300 | 2,861 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Commercial [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 1,231 | 1,231 |
Recorded Investment, With no related allowance recorded | 879 | 879 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Residential [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | ' | ' |
Recorded Investment, With no related allowance recorded | ' | ' |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Multifamily [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 1,629 | 2,921 |
Recorded Investment, With no related allowance recorded | 1,629 | 2,921 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
1-4 family [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 14,653 | 14,782 |
Recorded Investment, With no related allowance recorded | 12,704 | 12,831 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Home Equity [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 1,130 | 1,705 |
Recorded Investment, With no related allowance recorded | 1,130 | 1,188 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Commercial & Industrial [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | 9,207 | 11,421 |
Recorded Investment, With no related allowance recorded | 9,176 | 10,318 |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Lease Financing & Other [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | ' | ' |
Recorded Investment, With no related allowance recorded | ' | ' |
Allowance for Loan Losses Allocated, With no related allowance recorded | ' | ' |
Loans_Average_Recorded_Investm
Loans - Average Recorded Investment in Impaired Loans by Portfolio Segment and Interest Recognized on Impaired Loans (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | $41,054 | $55,735 |
Interest Income | 221 | 237 |
Owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 10,644 | 21,891 |
Interest Income | 18 | 3 |
Non Owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 3,581 | 3,187 |
Interest Income | 77 | 71 |
Commercial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 879 | 1,727 |
Interest Income | ' | ' |
Residential [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | ' | 2,047 |
Interest Income | ' | 11 |
Multifamily [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 2,275 | 3,148 |
Interest Income | 17 | 40 |
1-4 family [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 12,768 | 10,910 |
Interest Income | 10 | ' |
Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 1,160 | 837 |
Interest Income | 1 | ' |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | 9,747 | 11,988 |
Interest Income | 98 | 112 |
Lease Financing & Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Average Recorded Investment | ' | ' |
Interest Income | ' | ' |
Loans_Loans_by_Class_Modified_
Loans - Loans by Class Modified as Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
TDRs | TDRs | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | 4 |
Pre-Modification Outstanding Recorded Investment | $2,743 | $5,211 |
Post-Modification Outstanding Recorded Investment | 2,743 | 5,025 |
Owner Occupied [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 1,299 | ' |
Post-Modification Outstanding Recorded Investment | 1,299 | ' |
Non Owner Occupied [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 2 | ' |
Pre-Modification Outstanding Recorded Investment | 1,444 | ' |
Post-Modification Outstanding Recorded Investment | 1,444 | ' |
Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Multifamily [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
1-4 family [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 4 |
Pre-Modification Outstanding Recorded Investment | ' | 5,211 |
Post-Modification Outstanding Recorded Investment | ' | 5,025 |
Home Equity [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Lease Financing & Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Overdrafts [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Loans_Risk_Category_by_Class_o
Loans - Risk Category by Class of Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | $1,287,972 | $1,258,510 |
Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 161,856 | 168,371 |
Non Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 425,510 | 425,105 |
Commercial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 42,961 | 47,039 |
Residential [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 38,370 | 41,272 |
Multifamily [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 249,661 | 226,898 |
1-4 family [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 57,881 | 61,440 |
Home Equity [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 3,553 | 1,146 |
Commercial & Industrial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 284,025 | 258,578 |
Lease Financing & Other [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 24,155 | 28,661 |
Pass [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 1,187,803 | 1,164,176 |
Pass [Member] | Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 134,431 | 139,108 |
Pass [Member] | Non Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 400,233 | 399,009 |
Pass [Member] | Commercial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 36,582 | 46,160 |
Pass [Member] | Residential [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 33,960 | 37,931 |
Pass [Member] | Multifamily [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 246,210 | 222,147 |
Pass [Member] | 1-4 family [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 36,536 | 42,158 |
Pass [Member] | Home Equity [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 1,727 | 34 |
Pass [Member] | Commercial & Industrial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 274,239 | 249,238 |
Pass [Member] | Lease Financing & Other [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 23,885 | 28,391 |
Special Mention [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 46,673 | 33,472 |
Special Mention [Member] | Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 7,418 | 6,342 |
Special Mention [Member] | Non Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 15,801 | 14,024 |
Special Mention [Member] | Commercial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 5,500 | ' |
Special Mention [Member] | Residential [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 4,410 | 3,341 |
Special Mention [Member] | Multifamily [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 2,538 | 2,550 |
Special Mention [Member] | 1-4 family [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 4,234 | 2,008 |
Special Mention [Member] | Home Equity [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Special Mention [Member] | Commercial & Industrial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 6,772 | 5,207 |
Special Mention [Member] | Lease Financing & Other [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Substandard [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 53,496 | 60,862 |
Substandard [Member] | Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 20,007 | 22,921 |
Substandard [Member] | Non Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 9,476 | 12,072 |
Substandard [Member] | Commercial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 879 | 879 |
Substandard [Member] | Residential [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Substandard [Member] | Multifamily [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 913 | 2,201 |
Substandard [Member] | 1-4 family [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 17,111 | 17,274 |
Substandard [Member] | Home Equity [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 1,826 | 1,112 |
Substandard [Member] | Commercial & Industrial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 3,014 | 4,133 |
Substandard [Member] | Lease Financing & Other [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | 270 | 270 |
Doubtful [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Non Owner Occupied [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Commercial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Residential [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Multifamily [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | 1-4 family [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Home Equity [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Commercial & Industrial [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Doubtful [Member] | Lease Financing & Other [Member] | ' | ' |
Risk category by class of loans | ' | ' |
Financing Receivable Risk Category | ' | ' |
Loans_Delinquency_Categories_b
Loans - Delinquency Categories by Class of Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | $21,006 | $23,489 |
31-59 Days Past Due | 7,174 | 3,412 |
60-89 Days Past Due | 2,416 | 1,213 |
90 Days Or More Past Due | 17,188 | 18,763 |
Total Past Due | 26,778 | 23,388 |
Current | 1,631,892 | 1,607,402 |
1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 12,038 | 12,164 |
31-59 Days Past Due | 3,170 | 1,012 |
60-89 Days Past Due | ' | 190 |
90 Days Or More Past Due | 11,726 | 11,841 |
Total Past Due | 14,896 | 13,043 |
Current | 299,845 | 307,597 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 1,055 | 1,113 |
31-59 Days Past Due | 549 | 408 |
60-89 Days Past Due | 99 | 540 |
90 Days Or More Past Due | 1,055 | 1,113 |
Total Past Due | 1,703 | 2,061 |
Current | 112,935 | 110,298 |
Overdrafts [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | ' | ' |
31-59 Days Past Due | ' | ' |
60-89 Days Past Due | ' | ' |
90 Days Or More Past Due | ' | ' |
Total Past Due | ' | ' |
Current | 1,876 | 902 |
Delinquency Categories [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 370,698 | 372,280 |
31-59 Days Past Due | 1,408 | 1,136 |
60-89 Days Past Due | ' | 659 |
90 Days Or More Past Due | ' | ' |
Total Past Due | 1,408 | 1,795 |
Current | 369,290 | 370,485 |
Delinquency Categories [Member] | 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 256,860 | 259,201 |
31-59 Days Past Due | 1,107 | 705 |
60-89 Days Past Due | ' | 115 |
90 Days Or More Past Due | ' | ' |
Total Past Due | 1,107 | 820 |
Current | 255,753 | 258,381 |
Delinquency Categories [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 111,085 | 111,212 |
31-59 Days Past Due | 301 | 408 |
60-89 Days Past Due | ' | 540 |
90 Days Or More Past Due | ' | ' |
Total Past Due | 301 | 948 |
Current | 110,784 | 110,264 |
Delinquency Categories [Member] | Other Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 877 | 965 |
31-59 Days Past Due | ' | 23 |
60-89 Days Past Due | ' | 4 |
90 Days Or More Past Due | ' | ' |
Total Past Due | ' | 27 |
Current | 877 | 938 |
Delinquency Categories [Member] | Overdrafts [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total | 1,876 | 902 |
90 Days Or More Past Due | ' | ' |
Current | $1,876 | $902 |
Earnings_Per_Share_Calculation
Earnings Per Share - Calculation of Earnings Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Net Income | $1,602 | $3,651 |
Less: Dividends paid on and earnings allocated to participating securities | 22 | 43 |
Income attributable to common stock | 1,580 | 3,608 |
Weighted average common shares outstanding, including participating securities | 19,983,449 | 19,810,845 |
Less: Weighted average participating securities | 292,173 | 247,762 |
Weighted average common shares outstanding | 19,691,276 | 19,563,083 |
Basic earnings per common share | $0.08 | $0.18 |
Income attributable to common stock | $1,580 | $3,608 |
Weighted average common shares outstanding | 19,691,276 | 19,563,083 |
Weighted average common equivalent shares outstanding | 27,719 | ' |
Weighted average common and equivalent shares outstanding | 19,718,995 | 19,563,083 |
Diluted earnings per common share | $0.08 | $0.18 |
Dividends per common share | $0.06 | $0.06 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Stock options not considered in computing diluted earnings per share | 166,605 | 361,744 |
Benefit_Plans_Components_of_Ne
Benefit Plans - Components of Net Periodic Pension Cost (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Service cost | $109 | $131 |
Interest cost | 153 | 151 |
Amortization of prior service cost | ' | -54 |
Amortization of net loss | 188 | 209 |
Net periodic pension cost | $450 | $437 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Compensation And Retirement Disclosure [Abstract] | ' |
Amount expected to contribute in unfunded defined benefit plans | $1,067 |
Defined benefit plans contributed by employer | $225 |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted at fair value, Shares | 0 | 0 |
Prior Option Plans [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Beginning Balance, Outstanding Shares | 295,627 | ' |
Granted at fair value, Shares | ' | ' |
Exercised, Shares | -6,413 | ' |
Cancelled, Shares | -9,757 | ' |
Ending Balance, Outstanding Shares | 279,457 | ' |
Exercisable, Shares | 279,457 | ' |
Ending Balance, Non-vested Shares | ' | ' |
Beginning Balance, Weighted Average Grant or Exercise Price, Outstanding | 21.62 | ' |
Granted, Weighted Average Grant or Exercise Price | ' | ' |
Exercised, Weighted Average Grant or Exercise Price | 18.78 | ' |
Cancelled or Expired, Weighted Average Grant or Exercise Price | 22.67 | ' |
Ending Balance, Weighted Average Grant or Exercise Price, Outstanding | 21.65 | ' |
Exercisable, Weighted Average Grant or Exercise Price | 21.65 | ' |
Non-vested, Weighted Average Grant or Exercise Price | ' | ' |
Outstanding at March 31, 2014, Aggregate Intrinsic Value | 70 | ' |
Exercisable at March 31, 2014, Aggregate Intrinsic Value | 70 | ' |
Outstanding at March 31, 2014, Weighted Average Remaining Contractual Term | '1 year 3 months 18 days | ' |
Exercisable at March 31, 2014, Weighted Average Remaining Contractual Term | '1 year 3 months 18 days | ' |
2010 Omnibus Incentive Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Beginning Balance, Non-vested Shares | 251,274 | ' |
Granted at fair value, Shares | 169,626 | ' |
Restriction released, Shares | -35,242 | ' |
Cancelled, Shares | ' | ' |
Ending Balance, Non-vested Shares | 385,658 | ' |
Beginning Balance, Weighted Average Grant or Exercise Price, Outstanding | 16.3 | ' |
Granted, Weighted Average Grant or Exercise Price | 18.18 | ' |
Restriction Released, Weighted Average Grant or Exercise Price | 16.45 | ' |
Cancelled or Expired, Weighted Average Grant or Exercise Price | ' | ' |
Non-vested, Weighted Average Grant or Exercise Price | 17.12 | ' |
Shares Available For Grant [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Beginning Balance, Available for grant | 968,762 | ' |
Restricted Stock Awards, Weighted Average Grant or Exercise Price | 18.12 | ' |
Restricted stock awards, Shares | -169,626 | ' |
Cancelled, Shares | 58,742 | ' |
Ending Balance, Available for grant | 857,878 | ' |
Cancelled or Expired, Weighted Average Grant or Exercise Price | 16.23 | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock options granted | 0 | ' | 0 |
Compensation expense | $0 | $0 | ' |
Unrecognized compensation expense related to stock options | 0 | 0 | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense | 416 | 202 | ' |
Unrecognized compensation expense related to stock options | 4,630 | ' | ' |
Compensation related tax effect | $172 | $83 | ' |
Cash option exercise remaining period | '1 year 6 months | ' | ' |
Fair_Value_Assets_and_Liabilit
Fair Value - Assets and Liabilities Measured at Fair Value (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | $532,341 | $542,198 |
U.S. Treasury and Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 94,239 | 93,692 |
Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 979 | 9,529 |
Mutual Funds and Other Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 10,152 | 9,978 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 532,341 | 542,198 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury and Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 94,239 | 93,692 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities-Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 337,086 | 339,695 |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | 89,885 | 89,304 |
Fair Value, Measurements, Recurring [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 979 | 9,529 |
Fair Value, Measurements, Recurring [Member] | Mutual Funds and Other Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 10,152 | 9,978 |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | 10,152 | 9,978 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury and Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-Backed Securities-Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mutual Funds and Other Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 10,152 | 9,978 |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | 522,189 | 532,220 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 94,239 | 93,692 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities-Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 337,086 | 339,695 |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | 89,885 | 89,304 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | 979 | 9,529 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mutual Funds and Other Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury and Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-Backed Securities-Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
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] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mutual Funds and Other Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value measured on a recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | 1,275 |
Fair Value, Measurements, Non-recurring [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Construction [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | 380 |
Fair Value, Measurements, Non-recurring [Member] | Commercial & Industrial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | 895 |
Fair Value, Measurements, Non-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] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Construction [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial & Industrial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Construction [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commercial & Industrial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | 1,275 |
Fair Value, Measurements, Non-recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Construction [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | ' |
Fair Value, Measurements, Non-recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | 380 |
Fair Value, Measurements, Non-recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commercial & Industrial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans measured on a non-recurring basis | ' | $895 |
Fair_Value_Assets_and_Liabilit1
Fair Value - Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Mar. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments in impaired loans subject to fair value | $41,052 | $41,056 |
Specific allowance within the allowance for loan losses | 0 | ' |
Charge-offs related to impaired loans | 31 | ' |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments in impaired loans subject to fair value | $1,275 | ' |
Fair_Value_Additional_Informat
Fair Value - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2014 | |
Instruments | |
Fair Value Disclosures [Abstract] | ' |
Financial instruments measured at fair value | 0 |
Fair_Value_Reconciliation_and_
Fair Value - Reconciliation and Income Statement Classification of Gains and Losses for Securities Available for Sale Measured at Fair Value on Recurring Basis (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2013 |
Fair Value Disclosures [Abstract] | ' |
Balance at beginning of period | $2,950 |
Additions to Level 3 | 96 |
Net unrealized gain included in other comprehensive income | 196 |
Principal payments | -204 |
Balance at end of period | $3,038 |
Fair_Value_Quantitative_Inform
Fair Value - Quantitative Information about Level 3 Fair Value Measurements (Detail) (Fair Value, Measurements, Non-recurring [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair Value | $1,275 |
Residential Real Estate [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair Value | 380 |
Valuation Technique | 'Sales comparison approach |
Discounts to appraisals for market conditions | 0.00% |
Commercial & Industrial [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair Value | $895 |
Valuation Technique | 'Sales comparison approach |
Discounts to appraisals for market conditions | 0.00% |
Weighted Average [Member] | Residential Real Estate [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discounts to appraisals for market conditions | 0.00% |
Weighted Average [Member] | Commercial & Industrial [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discounts to appraisals for market conditions | 0.00% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Liabilities: | ' | ' |
Deposits with no stated maturity and accrued interest | $2,447.50 | $2,517.80 |
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 31.2 | 34.4 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets: | ' | ' |
Held to maturity securities and accrued interest | 6.2 | 6.6 |
Liabilities: | ' | ' |
Time deposits and accrued interest | 114.6 | 116.1 |
Other borrowings and accrued interest | ' | 14.6 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets: | ' | ' |
Loans and accrued interest | 1,676.30 | 1,655.60 |
Carrying Amount [Member] | ' | ' |
Assets: | ' | ' |
Held to maturity securities and accrued interest | 6 | 6.2 |
FHLB Stock | 2.7 | 3.5 |
Loans and accrued interest | 1,665.70 | 1,637.30 |
Liabilities: | ' | ' |
Deposits with no stated maturity and accrued interest | 2,447.50 | 2,517.80 |
Time deposits and accrued interest | 114.6 | 116.1 |
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 31.2 | 34.4 |
Other borrowings and accrued interest | ' | 16.5 |
Total Fair Value [Member] | ' | ' |
Assets: | ' | ' |
Held to maturity securities and accrued interest | 6.2 | 6.6 |
FHLB Stock | ' | ' |
Loans and accrued interest | 1,676.30 | 1,655.60 |
Liabilities: | ' | ' |
Deposits with no stated maturity and accrued interest | 2,447.50 | 2,517.80 |
Time deposits and accrued interest | 114.6 | 116.1 |
Securities sold under repurchase agreements and other short-term borrowing and accrued interest | 31.2 | 34.4 |
Other borrowings and accrued interest | ' | $14.60 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive (Loss) Income - Activity in Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | ($6,371) | ($849) |
Other comprehensive (loss) income before reclassification | 2,383 | -833 |
Other comprehensive (loss) income | 2,480 | -740 |
Ending balance | -3,891 | -1,589 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income | 97 | 93 |
Securities Available for Sale [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | -5,328 | 624 |
Other comprehensive (loss) income before reclassification | 2,383 | -833 |
Other comprehensive (loss) income | 2,367 | -833 |
Ending balance | -2,961 | -209 |
Securities Available for Sale [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income | -16 | ' |
Defined Benefit Plans [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | -1,043 | -1,473 |
Other comprehensive (loss) income before reclassification | ' | ' |
Other comprehensive (loss) income | 113 | 93 |
Ending balance | -930 | -1,380 |
Defined Benefit Plans [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income | $113 | $93 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive (Loss) Income - Schedule of Reclassification Out of Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Income tax expense | $738 | $1,729 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Net of tax | -97 | -93 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | Securities Available for Sale [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Realized gains (losses) on securities transactions | 26 | ' |
Other-than-temporary impairment charges | ' | ' |
Income tax expense | -10 | ' |
Net of tax | 16 | ' |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Plans [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amortization of net actuarial loss | -188 | -209 |
Amortization of prior service cost | ' | 54 |
Income tax expense | 75 | 62 |
Net of tax | ($113) | ($93) |