Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Entity Registrant Name | 'FRANKLIN FINANCIAL SERVICES CORP /PA/ | ' |
Entity Central Index Key | '0000723646 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 4,193,398 |
Trading Symbol | 'fraf | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $17,515 | $13,542 |
Interest-bearing deposits in other banks | 37,276 | 27,203 |
Total cash and cash equivalents | 54,791 | 40,745 |
Investment securities available for sale, at fair value | 175,419 | 159,674 |
Restricted stock | 1,938 | 1,906 |
Loans held for sale | 600 | 349 |
Loans | 732,719 | 723,413 |
Allowance for loan losses | -9,519 | -9,702 |
Net Loans | 723,200 | 713,711 |
Premises and equipment, net | 15,762 | 16,145 |
Bank owned life insurance | 21,816 | 21,530 |
Goodwill | 9,016 | 9,016 |
Other intangible assets | 491 | 698 |
Other real estate owned | 4,112 | 4,708 |
Deferred tax assets, net | 4,717 | 5,445 |
Other assets | 10,689 | 10,660 |
Total assets | 1,022,551 | 984,587 |
Deposits | ' | ' |
Noninterest-bearing checking | 129,270 | 121,565 |
Money management, savings and interest checking | 665,627 | 610,245 |
Time | 105,807 | 113,914 |
Total Deposits | 900,704 | 845,724 |
Securities sold under agreements to repurchase | 2,264 | 23,834 |
Long-term debt | 12,000 | 12,403 |
Other liabilities | 7,624 | 7,238 |
Total liabilities | 922,592 | 889,199 |
Stockholders' equity | ' | ' |
Common stock, $1 par value per share,15,000,000 shares authorized with 4,581,342 shares issued and 4,192,791 shares outstanding at June 30, 2014 and 4,560,700 shares issued and 4,168,673 shares outstanding at December 31, 2013 | 4,581 | 4,561 |
Capital stock without par value, 5,000,000 shares authorized with no shares issued and outstanding | ' | ' |
Additional paid-in capital | 36,980 | 36,636 |
Retained earnings | 68,623 | 65,897 |
Accumulated other comprehensive loss | -3,277 | -4,696 |
Treasury stock, 388,551 at June 30, 2014 and 392,027 shares at December 31, 2013, at cost | -6,948 | -7,010 |
Total shareholders' equity | 99,959 | 95,388 |
Total liabilities and shareholders' equity | $1,022,551 | $984,587 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Common Stock, Par or Stated Value Per Share | $1 | $1 |
Common Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Common Stock, Shares, Issued | 4,581,342 | 4,560,700 |
Common Stock, Shares, Outstanding | 4,192,791 | 4,168,673 |
Capital stock, no par value | $0 | $0 |
Capital Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Capital Stock, Shares, Issued | 0 | 0 |
Capital Stock, Shares, Outstanding | 0 | 0 |
Treasury Stock, Shares | 388,551 | 392,027 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income | ' | ' | ' | ' |
Loans, including fees | $7,648 | $8,035 | $15,159 | $16,332 |
Interest and dividends on investments: | ' | ' | ' | ' |
Taxable interest | 661 | 365 | 1,302 | 718 |
Tax exempt interest | 376 | 381 | 734 | 757 |
Dividend income | 31 | 22 | 56 | 40 |
Deposits and obligations of other banks | 45 | 73 | 84 | 131 |
Total interest income | 8,761 | 8,876 | 17,335 | 17,978 |
Interest expense | ' | ' | ' | ' |
Deposits | 694 | 1,162 | 1,396 | 2,265 |
Securities sold under agreements to repurchase | 2 | 12 | 9 | 30 |
Long-term debt | 121 | 122 | 242 | 243 |
Total interest expense | 817 | 1,296 | 1,647 | 2,538 |
Net interest income | 7,944 | 7,580 | 15,688 | 15,440 |
Provision for loan losses | 266 | 803 | 464 | 1,605 |
Net interest income after provision for loan losses | 7,678 | 6,777 | 15,224 | 13,835 |
Noninterest income | ' | ' | ' | ' |
Investment and trust services fees | 1,101 | 1,130 | 2,192 | 2,148 |
Loan service charges | 250 | 192 | 418 | 442 |
Mortgage banking activities | 19 | 40 | 32 | 18 |
Deposit service charges and fees | 525 | 452 | 990 | 888 |
Other service charges and fees | 317 | 233 | 584 | 455 |
Debit card income | 337 | 316 | 643 | 602 |
Increase in cash surrender value of life insurance | 144 | 153 | 286 | 305 |
Other real estate owned (losses) gains, net | -62 | -141 | -185 | -141 |
Other | 10 | 47 | 62 | 89 |
OTTI losses recognized in earnings | ' | -50 | ' | -50 |
Securities gains, net | 221 | 29 | 221 | 29 |
Total noninterest income | 2,862 | 2,401 | 5,243 | 4,785 |
Noninterest expense | ' | ' | ' | ' |
Salaries and employee benefits | 4,107 | 4,018 | 8,357 | 8,232 |
Net occupancy expense | 586 | 568 | 1,262 | 1,136 |
Furniture and equipment expense | 237 | 244 | 491 | 491 |
Advertising | 270 | 317 | 586 | 652 |
Legal and professional fees | 353 | 359 | 618 | 639 |
Data processing | 493 | 451 | 884 | 845 |
Pennsylvania bank shares tax | 173 | 204 | 347 | 409 |
Intangible amortization | 104 | 106 | 207 | 213 |
FDIC insurance | 222 | 270 | 454 | 515 |
ATM/debit card processing | 178 | 165 | 357 | 346 |
Other | 892 | 923 | 1,741 | 1,730 |
Total noninterest expense | 7,615 | 7,625 | 15,304 | 15,208 |
Income before federal income taxes | 2,925 | 1,553 | 5,163 | 3,412 |
Federal income tax expense | 606 | 198 | 1,018 | 506 |
Net income | $2,319 | $1,355 | $4,145 | $2,906 |
Per share | ' | ' | ' | ' |
Basic earnings per share | $0.55 | $0.33 | $0.99 | $0.71 |
Diluted earnings per share | $0.55 | $0.33 | $0.99 | $0.70 |
Cash dividends declared | $0.17 | $0.17 | $0.34 | $0.34 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' | ' | ||||
Net income | $2,319 | $1,355 | $4,145 | $2,906 | ||||
Securities: | ' | ' | ' | ' | ||||
Unrealized gains (losses) arising during the period | 774 | -1,768 | 2,194 | -1,591 | ||||
Reclassification adjustment for (gains) losses included in net income | -221 | 21 | -221 | 21 | ||||
Net unrealized (losses) gains | 553 | -1,747 | 1,973 | -1,570 | ||||
Tax effect | -188 | 594 | -671 | 534 | ||||
Net of tax amount | 365 | -1,153 | 1,302 | -1,036 | ||||
Derivatives: | ' | ' | ' | ' | ||||
Unrealized (losses) gains arising during the period | -4 | 42 | -12 | 44 | ||||
Reclassification adjustment for losses included in net income | 94 | [1] | 152 | [1] | 189 | [1] | 332 | [1] |
Net unrealized gains | 90 | 194 | 177 | 376 | ||||
Tax effect | -30 | -66 | -60 | -128 | ||||
Net of tax amount | 60 | 128 | 117 | 248 | ||||
Total other comprehensive income (loss) | 425 | -1,025 | 1,419 | -788 | ||||
Total Comprehensive Income | 2,744 | 330 | 5,564 | 2,118 | ||||
Derivative/interest expense on deposits | ($32) | ($52) | ($64) | ($113) | ||||
[1] | Derivatives / interest expense on deposits |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Shareholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total |
In Thousands | ||||||
Balance at Dec. 31, 2012 | $4,503 | $35,788 | $62,475 | ($4,050) | ($7,082) | $91,634 |
Net income | ' | ' | 2,906 | ' | ' | 2,906 |
Other comprehensive income (loss) | ' | ' | ' | -788 | ' | -788 |
Cash dividends declared | ' | ' | -1,399 | ' | ' | -1,399 |
Treasury shares issued under stock option plans | ' | -20 | ' | ' | 67 | 47 |
Common stock issued under dividend reinvestment plan | 23 | 338 | ' | ' | ' | 361 |
Balance at Jun. 30, 2013 | 4,526 | 36,106 | 63,982 | -4,838 | -7,015 | 92,761 |
Balance at Dec. 31, 2013 | 4,561 | 36,636 | 65,897 | -4,696 | -7,010 | 95,388 |
Net income | ' | ' | 4,145 | ' | ' | 4,145 |
Other comprehensive income (loss) | ' | ' | ' | 1,419 | ' | 1,419 |
Cash dividends declared | ' | ' | -1,419 | ' | ' | -1,419 |
Treasury shares issued under stock option plans | ' | -10 | ' | ' | 62 | 52 |
Common stock issued under dividend reinvestment plan | 20 | 354 | ' | ' | ' | 374 |
Balance at Jun. 30, 2014 | $4,581 | $36,980 | $68,623 | ($3,277) | ($6,948) | $99,959 |
Consolidated_Statements_Of_Cha1
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Common Stock, Dividends, Per Share, Declared | $0.34 | $0.34 |
Treasury shares issued under stock option plan, shares | 3,476 | 3,701 |
Common Stock [Member] | ' | ' |
Common stock issued under dividend reinvestment plan, shares | 20,642 | 22,920 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities | ' | ' |
Net income | $4,145 | $2,906 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 732 | 754 |
Net amortization of loans and investment securities | 893 | 910 |
Amortization and net change in mortgage servicing rights valuation | 8 | 33 |
Amortization of intangibles | 207 | 213 |
Provision for loan losses | 464 | 1,605 |
Net realized gains on sales of securities | -221 | -29 |
Impairment writedown on securities recognized in earnings | ' | 50 |
Loans originated for sale | -3,554 | -5,270 |
Proceeds from sale of loans | 3,303 | 5,099 |
Writedown on other real estate owned | 200 | 135 |
Net (gain) loss on sale or disposal of other real estate/other repossessed assets | -15 | 6 |
Increase in cash surrender value of life insurance | -286 | -305 |
(Increase) decrease in other assets | -118 | 1,077 |
Increase (decrease) in other liabilities | 526 | -265 |
Other, net | 87 | 705 |
Net cash provided by operating activities | 6,371 | 7,624 |
Cash flows from investing activities | ' | ' |
Proceeds from sales and calls of investment securities available for sale | 1,582 | 5,147 |
Proceeds from maturities and paydowns of securities available for sale | 12,313 | 18,376 |
Purchase of investment securities available for sale | -28,362 | -42,743 |
Net (increase) decrease in restricted stock | -32 | 1,436 |
Net (increase) decrease in loans | -10,012 | 23,614 |
Capital expenditures | -321 | -275 |
Proceeds from sale of other real estate/other repossessed assets | 493 | 15 |
Net cash (used in) provided by investing activities | -24,339 | 5,570 |
Cash flows from financing activities | ' | ' |
Net increase in demand deposits, NOW, and savings accounts | 63,087 | 50,532 |
Net decrease in time deposits | -8,107 | -43,175 |
Net decrease in repurchase agreements | -21,570 | -3,275 |
Long-term debt payments | -403 | -4 |
Dividends paid | -1,419 | -1,399 |
Treasury stock issued under stock option plans | 52 | 47 |
Common stock issued under dividend reinvestment plan | 374 | 361 |
Net cash provided by financing activities | 32,014 | 3,087 |
Increase in cash and cash equivalents | 14,046 | 16,281 |
Cash and cash equivalents as of January 1 | 40,745 | 77,834 |
Cash and cash equivalents as of June 30 | 54,791 | 94,115 |
Supplemental Disclosures of Cash Flow Information | ' | ' |
Cash paid during the year for: Interest on deposits and other borrowed funds | 1,670 | 2,607 |
Cash paid during the year for: Income taxes | 236 | 300 |
Noncash Activities | ' | ' |
Loans transferred to Other Real Estate | $82 | $293 |
Basis_Of_Presentation
Basis Of Presentation | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Basis Of Presentation [Abstract] | ' | |||||||||||
Basis Of Presentation | ' | |||||||||||
FRANKLIN FINANCIAL SERVICES CORPORATION and SUBSIDIARIES | ||||||||||||
UNAUDITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | ||||||||||||
Note 1 - Basis of Presentation | ||||||||||||
The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Property Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. | ||||||||||||
In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of June 30, 2014, and for all other periods presented have been made. | ||||||||||||
Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2013 Annual Report on Form 10-K. The consolidated results of operations for the period ended June 30, 2014 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. | ||||||||||||
The consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. | ||||||||||||
For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. | ||||||||||||
Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
30-Jun | 30-Jun | |||||||||||
(Dollars and shares in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | ||||||||
Weighted average shares outstanding (basic) | 4,184 | 4,126 | 4,178 | 4,119 | ||||||||
Impact of common stock equivalents | 7 | 7 | 6 | 7 | ||||||||
Weighted average shares outstanding (diluted) | 4,191 | 4,133 | 4,184 | 4,126 | ||||||||
Anti-dilutive options excluded from calculation | 34 | 46 | 37 | 57 | ||||||||
Net income | $ | 2,319 | $ | 1,355 | $ | 4,145 | $ | 2,906 | ||||
Basic earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.71 | ||||
Diluted earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.70 | ||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Note 2. Recent Accounting Pronouncements | |
Receivables (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. ASU 2014-04 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure” clarifies that a creditor is considered to have physical possession of residential real estate that is collateral for a residential mortgage loan when it obtains legal title to the collateral or a deed in lieu of foreclosure or similar legal agreement is completed. Consequently, it should reclassify the loan to other real estate owned at that time. ASU 2014-04 applies to all creditors who obtain physical possession resulting from an in substance repossession or foreclosure of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The ASU does not apply to commercial real estate loans, as the foreclosure process and applicable laws for those assets are significantly different from residential real estate. The ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The Corporation does not believe ASU 2014-04 will have a material effect on its financial statements. | |
Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” require an entity with an unrecognized tax benefit that is ‘not available’ or not intended to be used at the reporting date to present the unrecognized tax benefit as a liability that should not be combined with deferred tax assets. Otherwise, the unrecognized tax benefit should be presented as a reduction to the related deferred tax asset. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in ASU 2013-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Corporation adopted this ASU 2013-11 at March 31, 2014. | |
Revenue from Contracts with Customers (Topic 606). The amendments in this Update (ASU 2014-09) establish a comprehensive revenue recognition standard for virtually all industries under U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. To accomplish this objective, the standard requires five basic steps: i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The ASU is effective for public entities for annual periods beginning after December 15, 2016, including interim periods therein. Three basic transition methods are available – full retrospective, retrospective with certain practical expedients, and a cumulative effect approach. Under the third alternative, an entity would apply the new revenue standard only to contracts that are incomplete under legacy U.S. GAAP at the date of initial application (e.g. January 1, 2017) and recognize the cumulative effect of the new standard as an adjustment to the opening balance of retained earnings. That is, prior years would not be restated and additional disclosures would be required to enable users of the financial statements to understand the impact of adopting the new standard in the current year compared to prior years that are presented under legacy U.S. GAAP. Early adoption is prohibited under U.S. GAAP. The Corporation does not believe ASU 2014-09 will have a material effect on its financial statements. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 6 Months Ended | |||||
Jun. 30, 2014 | ||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||
Accumulated Other Comprehensive Loss | ' | |||||
Note 3. Accumulated Other Comprehensive Loss | ||||||
The components of accumulated other comprehensive loss included in shareholders' equity are as follows: | ||||||
30-Jun | 31-Dec | |||||
2014 | 2013 | |||||
(Dollars in thousands) | ||||||
Net unrealized gains (losses) on securities | $ | 1,232 | $ | -741 | ||
Tax effect | -419 | 252 | ||||
Net of tax amount | 813 | -489 | ||||
Net unrealized losses on derivatives | -384 | -561 | ||||
Tax effect | 131 | 191 | ||||
Net of tax amount | -253 | -370 | ||||
Accumulated pension adjustment | -5,814 | -5,814 | ||||
Tax effect | 1,977 | 1,977 | ||||
Net of tax amount | -3,837 | -3,837 | ||||
Total accumulated other comprehensive loss | $ | -3,277 | $ | -4,696 | ||
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2014 | |
Guarantees [Abstract] | ' |
Guarantees | ' |
Note 4. Guarantees | |
The Corporation does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Bank generally holds collateral and/or personal guarantees supporting these commitments. The Bank had $22.5 million and $20.2 million of standby letters of credit as of June 30, 2014 and December 31, 2013, respectively. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. The amount of the liability as of June 30, 2014 and December 31, 2013 for guarantees under standby letters of credit issued was not material. | |
Investments
Investments | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
Note 5. Investments | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities available for sale as of June 30, 2014 and December 31, 2013 is as follows: | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Fair | |||||||||||||||||||||
30-Jun-14 | cost | gains | losses | value | ||||||||||||||||||||
Equity securities | $ | 110 | $ | 284 | $ | - | $ | 394 | ||||||||||||||||
U.S. Government agency securities | 15,376 | 99 | -80 | 15,395 | ||||||||||||||||||||
Municipal securities | 64,018 | 1,762 | -730 | 65,050 | ||||||||||||||||||||
Corporate debt securities | 1,000 | - | - | 1,000 | ||||||||||||||||||||
Trust preferred securities | 5,931 | - | -625 | 5,306 | ||||||||||||||||||||
Agency mortgage-backed securities | 85,859 | 905 | -412 | 86,352 | ||||||||||||||||||||
Private-label mortgage-backed securities | 1,845 | 45 | -14 | 1,876 | ||||||||||||||||||||
Asset-backed securities | 48 | - | -2 | 46 | ||||||||||||||||||||
$ | 174,187 | $ | 3,095 | $ | -1,863 | $ | 175,419 | |||||||||||||||||
(Dollars in thousands) | Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Fair | |||||||||||||||||||||
31-Dec-13 | cost | gains | losses | value | ||||||||||||||||||||
Equity securities | $ | 1,472 | $ | 499 | $ | -1 | $ | 1,970 | ||||||||||||||||
U.S. Government agency securities | 11,771 | 94 | -114 | 11,751 | ||||||||||||||||||||
Municipal securities | 56,861 | 1,400 | -1,404 | 56,857 | ||||||||||||||||||||
Corporate debt securities | 1,002 | - | -1 | 1,001 | ||||||||||||||||||||
Trust preferred securities | 5,922 | - | -871 | 5,051 | ||||||||||||||||||||
Agency mortgage-backed securities | 81,352 | 726 | -1,051 | 81,027 | ||||||||||||||||||||
Private-label mortgage-backed securities | 1,984 | 16 | -31 | 1,969 | ||||||||||||||||||||
Asset-backed securities | 51 | - | -3 | 48 | ||||||||||||||||||||
$ | 160,415 | $ | 2,735 | $ | -3,476 | $ | 159,674 | |||||||||||||||||
At June 30, 2014 and December 31, 2013, the fair value of investment securities pledged to secure public funds, trust balances, repurchase agreements, deposit and other obligations totaled $83.9 million and $107.6 million, respectively. | ||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities at June 30, 2014, by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. | ||||||||||||||||||||||||
(Dollars in thousands) | Amortized cost | Fair value | ||||||||||||||||||||||
Due in one year or less | $ | 2,741 | $ | 2,780 | ||||||||||||||||||||
Due after one year through five years | 11,474 | 11,911 | ||||||||||||||||||||||
Due after five years through ten years | 27,749 | 28,064 | ||||||||||||||||||||||
Due after ten years | 44,409 | 44,042 | ||||||||||||||||||||||
86,373 | 86,797 | |||||||||||||||||||||||
Mortgage-backed securities | 87,704 | 88,228 | ||||||||||||||||||||||
$ | 174,077 | $ | 175,025 | |||||||||||||||||||||
The following table provides additional detail about trust preferred securities as of June 30, 2014: | ||||||||||||||||||||||||
Trust Preferred Securities | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Deal Name | Single Issuer or Pooled | Class | Amortized Cost | Fair Value | Gross Unrealized Gain (Loss) | Lowest Credit Rating Assigned | Number of Banks Currently Performing | Deferrals and Defaults as % of Original Collateral | Expected Deferral/ Defaults as a Percentage of Remaining Performing Collateral | |||||||||||||||
Huntington Cap Trust | Single | Preferred Stock | $ | 937 | $ | 844 | $ | -93 | BB+ | 1 | None | None | ||||||||||||
Huntington Cap Trust II | Single | Preferred Stock | 887 | 821 | -66 | BB+ | 1 | None | None | |||||||||||||||
BankAmerica Cap III | Single | Preferred Stock | 962 | 836 | -126 | BB+ | 1 | None | None | |||||||||||||||
Wachovia Cap Trust II | Single | Preferred Stock | 276 | 257 | -19 | BBB+ | 1 | None | None | |||||||||||||||
Corestates Captl Tr II | Single | Preferred Stock | 934 | 871 | -63 | BBB+ | 1 | None | None | |||||||||||||||
Chase Cap VI JPM | Single | Preferred Stock | 961 | 865 | -96 | BBB | 1 | None | None | |||||||||||||||
Fleet Cap Tr V | Single | Preferred Stock | 974 | 812 | -162 | BB+ | 1 | None | None | |||||||||||||||
$ | 5,931 | $ | 5,306 | $ | -625 | |||||||||||||||||||
The following table provides additional detail about private label mortgage-backed securities as of June 30, 2014: | ||||||||||||||||||||||||
Private Label Mortgage Backed Securities | ||||||||||||||||||||||||
(Dollars in thousands) | Gross | Cumulative | ||||||||||||||||||||||
Origination | Amortized | Fair | Unrealized | Collateral | Lowest Credit | Credit | OTTI | |||||||||||||||||
Description | Date | Cost | Value | Gain (Loss) | Type | Rating Assigned | Support % | Charges | ||||||||||||||||
RALI 2004-QS4 A7 | 3/1/04 | $ | 129 | $ | 134 | $ | 5 | ALT A | BBB+ | 12.53 | $ | - | ||||||||||||
MALT 2004-6 7A1 | 6/1/04 | 424 | 444 | 20 | ALT A | CCC | 14.38 | - | ||||||||||||||||
RALI 2005-QS2 A1 | 2/1/05 | 308 | 321 | 13 | ALT A | CC | 5.78 | 10 | ||||||||||||||||
RALI 2006-QS4 A2 | 4/1/06 | 575 | 567 | -8 | ALT A | D | - | 293 | ||||||||||||||||
GSR 2006-5F 2A1 | 5/1/06 | 91 | 98 | 7 | Prime | D | - | 15 | ||||||||||||||||
RALI 2006-QS8 A1 | 7/28/06 | 318 | 312 | -6 | ALT A | D | - | 197 | ||||||||||||||||
$ | 1,845 | $ | 1,876 | $ | 31 | $ | 515 | |||||||||||||||||
Impairment: | ||||||||||||||||||||||||
The investment portfolio contained 99 securities with $75.8 million of temporarily impaired fair value and $1.9 million in unrealized losses at June 30, 2014. The total unrealized loss position has improved by $1.6 million since year-end 2013. | ||||||||||||||||||||||||
For securities with an unrealized loss, Management applies a systematic methodology in order to perform an assessment of the potential for other-than-temporary impairment. In the case of debt securities, investments considered for other-than-temporary impairment: (1) had a specified maturity or repricing date; (2) were generally expected to be redeemed at par, and (3) were expected to achieve a recovery in market value within a reasonable period of time. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. Equity securities are assessed for other-than-temporary impairment based on the length of time of impairment, dollar amount of the impairment and general market and financial conditions relating to specific issues. The impairment identified on debt and equity securities and subject to assessment at June 30, 2014, was deemed to be temporary and required no further adjustments to the financial statements, unless otherwise noted. | ||||||||||||||||||||||||
The following table reflects temporary impairment in the investment portfolio (excluding restricted stock), aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
(Dollars in thousands) | Value | Losses | Count | Value | Losses | Count | Value | Losses | Count | |||||||||||||||
U.S. Government agency securities | $ | 2,078 | $ | -2 | 3 | $ | 7,509 | $ | -78 | 13 | $ | 9,587 | $ | -80 | 16 | |||||||||
Municipal securities | 10,051 | -111 | 14 | 15,070 | -619 | 21 | 25,121 | -730 | 35 | |||||||||||||||
Trust preferred securities | - | - | - | 5,306 | -625 | 7 | 5,306 | -625 | 7 | |||||||||||||||
Agency mortgage-backed securities | 20,400 | -126 | 21 | 14,472 | -286 | 17 | 34,872 | -412 | 38 | |||||||||||||||
Private-label mortgage-backed securities | - | - | - | 879 | -14 | 2 | 879 | -14 | 2 | |||||||||||||||
Asset-backed securities | - | - | - | 5 | -2 | 1 | 5 | -2 | 1 | |||||||||||||||
Total temporarily impaired securities | $ | 32,529 | $ | -239 | 38 | $ | 43,241 | $ | -1,624 | 61 | $ | 75,770 | $ | -1,863 | 99 | |||||||||
31-Dec-13 | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
(Dollars in thousands) | Value | Losses | Count | Value | Losses | Count | Value | Losses | Count | |||||||||||||||
Equity securities | $ | 22 | $ | -1 | 1 | $ | - | $ | - | - | $ | 22 | $ | -1 | 1 | |||||||||
U.S. Government agency securities | 3,971 | -85 | 7 | 3,807 | -29 | 7 | 7,778 | -114 | 14 | |||||||||||||||
Municipal securities | 16,770 | -1,022 | 24 | 3,160 | -382 | 4 | 19,930 | -1,404 | 28 | |||||||||||||||
Corporate debt securities | - | - | - | 1,001 | -1 | 1 | 1,001 | -1 | 1 | |||||||||||||||
Trust preferred securities | - | - | - | 5,051 | -871 | 7 | 5,051 | -871 | 7 | |||||||||||||||
Agency mortgage-backed securities | 40,395 | -999 | 38 | 2,213 | -52 | 4 | 42,608 | -1,051 | 42 | |||||||||||||||
Private-label mortgage-backed securities | - | - | - | 911 | -31 | 2 | 911 | -31 | 2 | |||||||||||||||
Asset-backed securities | - | - | - | 48 | -3 | 3 | 48 | -3 | 3 | |||||||||||||||
Total temporarily impaired securities | $ | 61,158 | $ | -2,107 | 70 | $ | 16,191 | $ | -1,369 | 28 | $ | 77,349 | $ | -3,476 | 98 | |||||||||
The municipal bond portfolio has the largest unrealized loss at $730 thousand, but this is $674 thousand less than at the prior-year end. The unrealized loss in this portfolio is deemed to be non-credit related and no other-than-temporary impairment charges have been recorded. | ||||||||||||||||||||||||
The trust preferred portfolio contains seven securities with a fair value of $5.3 million and an unrealized loss of $625 thousand. The trust-preferred securities held by the Bank are single entity issues, not pooled trust preferred securities. Therefore, the impairment review of these securities is based only on the issuer and the security cannot be impaired by the performance of other issuers as if it was a pooled trust-preferred bond. All of the Bank’s trust preferred securities are single issue, variable rate notes with long maturities (2027 – 2028). None of these bonds have suspended or missed a dividend payment. At June 30, 2014, the Bank believes it will be able to collect all interest and principal due on these bonds and no other-than-temporary-impairment charges were recorded. | ||||||||||||||||||||||||
The PLMBS sector shows a gross unrealized loss of $14 thousand. These bonds were all rated AAA at time of purchase, but have since experienced rating declines. Some have experienced increased delinquencies and defaults, while others have seen the credit support increase as the bonds paid-down. The Bank monitors the performance of the PLMBS investments on a regular basis and reviews delinquencies, default rates, credit support levels and various cash flow stress test scenarios. In determining the credit related loss, Management considers all principal past due 60 days or more as a loss. If additional principal moves beyond 60 days past due, it will also be considered a loss. As a result of the analysis on PLMBS it was determined that no impairment charge was required at quarter end. The Bank has recorded $515 thousand of cumulative impairment charges on this portfolio. Management continues to monitor these securities and it is possible that additional write-downs may occur if current loss trends continue. The Bank is currently participating in a class-action lawsuit against one PLMBS servicer that centers on defective warranties and representations made as part of the underwriting process. | ||||||||||||||||||||||||
The Bank held $1.9 million of restricted stock at June 30, 2014. Except for $30 thousand, this investment represents stock in FHLB Pittsburgh. The Bank is required to hold this stock to be a member of FHLB and it is carried at cost of $100 per share. | ||||||||||||||||||||||||
FHLB stock is evaluated for impairment primarily based on an assessment of the ultimate recoverability of its cost. As a government sponsored entity, FHLB has the ability to raise funding through the U.S. Treasury that can be used to support its operations. There is not a public market for FHLB stock and the benefits of FHLB membership (e.g., liquidity and low cost funding) add value to the stock beyond purely financial measures. Management intends to remain a member of the FHLB and believes that it will be able to fully recover the cost basis of this investment. | ||||||||||||||||||||||||
Loans
Loans | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Loans [Abstract] | ' | ||||||||||
Loans | ' | ||||||||||
Note 6. Loans | |||||||||||
The Bank reports its loan portfolio based on the primary collateral of the loan. It further classifies these loans by the primary purpose, either consumer or commercial. The Bank’s residential real estate loans include long-term loans to individuals and businesses secured by mortgages on the borrower’s real property and include home equity loans. Construction loans are made to finance the purchase of land and the construction of residential and commercial buildings thereon, and are secured by mortgages on real estate. Commercial real estate loans include construction, owner and non-owner occupied properties and farm real estate. Commercial loans are made to businesses of various sizes for a variety of purposes including property, plant and equipment, working capital and loans to government municipalities. Commercial lending is concentrated in the Bank’s primary market, but also includes purchased loan participations. Consumer loans are comprised of installment loans and unsecured personal lines of credit. | |||||||||||
A summary of loans outstanding, by primary collateral, at the end of the reporting periods is as follows: | |||||||||||
Change | |||||||||||
(Dollars in thousands) | 30-Jun-14 | 31-Dec-13 | Amount | % | |||||||
Residential Real Estate 1-4 Family | |||||||||||
Consumer first liens | $ | 102,849 | $ | 103,573 | $ | -724 | -0.7 | ||||
Consumer junior liens and lines of credit | 35,131 | 34,636 | 495 | 1.4 | |||||||
Total consumer | 137,980 | 138,209 | -229 | -0.2 | |||||||
Commercial first lien | 58,639 | 58,466 | 173 | 0.3 | |||||||
Commercial junior liens and lines of credit | 4,940 | 5,939 | -999 | -16.8 | |||||||
Total commercial | 63,579 | 64,405 | -826 | -1.3 | |||||||
Total residential real estate 1-4 family | 201,559 | 202,614 | -1,055 | -0.5 | |||||||
Residential real estate - construction | |||||||||||
Consumer | 2,414 | 3,960 | -1,546 | -39 | |||||||
Commercial | 8,868 | 8,559 | 309 | 3.6 | |||||||
Total residential real estate construction | 11,282 | 12,519 | -1,237 | -9.9 | |||||||
Commercial real estate | 322,465 | 329,373 | -6,908 | -2.1 | |||||||
Commercial | 190,130 | 170,327 | 19,803 | 11.6 | |||||||
Total commercial | 512,595 | 499,700 | 12,895 | 2.6 | |||||||
Consumer | 7,283 | 8,580 | -1,297 | -15.1 | |||||||
732,719 | 723,413 | 9,306 | 1.3 | ||||||||
Less: Allowance for loan losses | -9,519 | -9,702 | 183 | 1.9 | |||||||
Net Loans | $ | 723,200 | $ | 713,711 | $ | 9,489 | 1.3 | ||||
Included in the loan balances are the following: | |||||||||||
Net unamortized deferred loan costs | $ | 472 | $ | 372 | |||||||
Unamortized discount on purchased loans | $ | -49 | $ | -92 | |||||||
Loans pledged as collateral for borrowings and commitments from: | |||||||||||
FHLB | $ | 594,772 | $ | 607,524 | |||||||
Federal Reserve Bank | 57,689 | 45,809 | |||||||||
$ | 652,461 | $ | 653,333 | ||||||||
Loan_Quality
Loan Quality | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Loan Quality [Abstract] | ' | |||||||||||||||||||||
Loan Quality | ' | |||||||||||||||||||||
Note 7. Loan Quality | ||||||||||||||||||||||
The following table presents, by class, the activity in the Allowance for Loan Losses (ALL) for the periods ended: | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
Junior Liens & | Commercial | |||||||||||||||||||||
(Dollars in thousands) | First Liens | Lines of Credit | Construction | Real Estate | Commercial | Consumer | Total | |||||||||||||||
Allowance at March 31, 2014 | $ | 1,133 | $ | 276 | $ | 374 | $ | 5,509 | $ | 2,309 | $ | 144 | $ | 9,745 | ||||||||
Charge-offs | -241 | - | - | -234 | -11 | -37 | -523 | |||||||||||||||
Recoveries | - | - | - | - | 13 | 18 | 31 | |||||||||||||||
Provision | 187 | -10 | -113 | 137 | 55 | 10 | 266 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
Allowance at December 31, 2013 | $ | 1,108 | $ | 278 | $ | 291 | $ | 5,571 | $ | 2,306 | $ | 148 | $ | 9,702 | ||||||||
Charge-offs | -257 | - | -27 | -348 | -12 | -80 | -724 | |||||||||||||||
Recoveries | 3 | - | - | - | 33 | 41 | 77 | |||||||||||||||
Provision | 225 | -12 | -3 | 189 | 39 | 26 | 464 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
Allowance at March 31, 2013 | $ | 973 | $ | 296 | $ | 837 | $ | 6,682 | $ | 1,972 | $ | 183 | $ | 10,943 | ||||||||
Charge-offs | -39 | - | - | - | -317 | -40 | -396 | |||||||||||||||
Recoveries | 1 | - | - | 3 | 68 | 16 | 88 | |||||||||||||||
Provision | 430 | -18 | -136 | 45 | 479 | 3 | 803 | |||||||||||||||
Allowance at June 30, 2013 | $ | 1,365 | $ | 278 | $ | 701 | $ | 6,730 | $ | 2,202 | $ | 162 | $ | 11,438 | ||||||||
Allowance at December 31, 2012 | $ | 913 | $ | 306 | $ | 899 | $ | 6,450 | $ | 1,620 | $ | 191 | $ | 10,379 | ||||||||
Charge-offs | -39 | -45 | - | -167 | -327 | -84 | -662 | |||||||||||||||
Recoveries | 9 | - | - | 3 | 75 | 29 | 116 | |||||||||||||||
Provision | 482 | 17 | -198 | 444 | 834 | 26 | 1,605 | |||||||||||||||
Allowance at June 30, 2013 | $ | 1,365 | $ | 278 | $ | 701 | $ | 6,730 | $ | 2,202 | $ | 162 | $ | 11,438 | ||||||||
The following table presents, by class, loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
Junior Liens & | Commercial | |||||||||||||||||||||
(Dollars in thousands) | First Liens | Lines of Credit | Construction | Real Estate | Commercial | Consumer | Total | |||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Loans evaluated for allowance: | ||||||||||||||||||||||
Individually | $ | 1,158 | $ | 51 | $ | 525 | $ | 22,210 | $ | 1,924 | $ | - | $ | 25,868 | ||||||||
Collectively | 160,330 | 40,020 | 10,757 | 300,255 | 188,206 | 7,283 | 706,851 | |||||||||||||||
Total | $ | 161,488 | $ | 40,071 | $ | 11,282 | $ | 322,465 | $ | 190,130 | $ | 7,283 | $ | 732,719 | ||||||||
Allowance established for loans evaluated: | ||||||||||||||||||||||
Individually | $ | - | $ | - | $ | - | $ | 68 | $ | 957 | $ | - | $ | 1,025 | ||||||||
Collectively | 1,079 | 266 | 261 | 5,344 | 1,409 | 135 | 8,494 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
Loans evaluated for allowance: | ||||||||||||||||||||||
Individually | $ | 2,354 | $ | 50 | $ | 537 | $ | 25,107 | $ | 1,996 | $ | - | $ | 30,044 | ||||||||
Collectively | 159,685 | 40,525 | 11,982 | 304,266 | 168,331 | 8,580 | 693,369 | |||||||||||||||
Total | $ | 162,039 | $ | 40,575 | $ | 12,519 | $ | 329,373 | $ | 170,327 | $ | 8,580 | $ | 723,413 | ||||||||
Allowance established for loans evaluated: | ||||||||||||||||||||||
Individually | $ | 9 | $ | - | $ | - | $ | 89 | $ | 1,002 | $ | - | $ | 1,100 | ||||||||
Collectively | 1,099 | 278 | 291 | 5,482 | 1,304 | 148 | 8,602 | |||||||||||||||
Allowance at December 31, 2013 | $ | 1,108 | $ | 278 | $ | 291 | $ | 5,571 | $ | 2,306 | $ | 148 | $ | 9,702 | ||||||||
The following table shows additional information about those loans considered to be impaired at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||
With No Allowance | With Allowance | |||||||||||||||||||||
(Dollars in thousands) | Unpaid | Unpaid | ||||||||||||||||||||
Recorded | Principal | Recorded | Principal | Related | ||||||||||||||||||
30-Jun-14 | Investment | Balance | Investment | Balance | Allowance | |||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 2,271 | $ | 2,348 | $ | - | $ | - | $ | - | ||||||||||||
Junior liens and lines of credit | 120 | 145 | - | - | - | |||||||||||||||||
Total | 2,391 | 2,493 | - | - | - | |||||||||||||||||
Residential real estate - construction | 525 | 553 | - | - | - | |||||||||||||||||
Commercial real estate | 21,338 | 27,103 | 916 | 1,022 | 68 | |||||||||||||||||
Commercial | 139 | 392 | 1,898 | 2,019 | 957 | |||||||||||||||||
Total | $ | 24,393 | $ | 30,541 | $ | 2,814 | $ | 3,041 | $ | 1,025 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 3,030 | $ | 3,500 | $ | 9 | $ | 39 | $ | 9 | ||||||||||||
Junior liens and lines of credit | 108 | 127 | - | - | - | |||||||||||||||||
Total | 3,138 | 3,627 | 9 | 39 | 9 | |||||||||||||||||
Residential real estate - construction | 537 | 556 | - | - | - | |||||||||||||||||
Commercial real estate | 24,188 | 30,334 | 966 | 1,043 | 89 | |||||||||||||||||
Commercial | 88 | 89 | 1,970 | 2,043 | 1,002 | |||||||||||||||||
Total | $ | 27,951 | $ | 34,606 | $ | 2,945 | $ | 3,125 | $ | 1,100 | ||||||||||||
The following table shows the average of impaired loans and related interest income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||
(Dollars in thousands) | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 2,289 | $ | 15 | $ | 2,753 | $ | 25 | ||||||||||||||
Junior liens and lines of credit | 120 | - | 123 | - | ||||||||||||||||||
Total | 2,409 | 15 | 2,876 | 25 | ||||||||||||||||||
Residential real estate - construction | 527 | - | 530 | - | ||||||||||||||||||
Commercial real estate | 22,399 | 81 | 24,032 | 174 | ||||||||||||||||||
Commercial | 2,056 | - | 2,074 | 1 | ||||||||||||||||||
Total | $ | 27,391 | $ | 96 | $ | 29,512 | $ | 200 | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||
(Dollars in thousands) | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 3,439 | $ | 4 | $ | 4,283 | $ | 8 | ||||||||||||||
Junior liens and lines of credit | 679 | 4 | 722 | 1 | ||||||||||||||||||
Total | 4,118 | 8 | 5,005 | 9 | ||||||||||||||||||
Residential real estate - construction | 550 | - | 692 | - | ||||||||||||||||||
Commercial real estate | 29,705 | 96 | 24,218 | 36 | ||||||||||||||||||
Commercial | 2,454 | - | 4,219 | 36 | ||||||||||||||||||
Total | $ | 36,827 | $ | 104 | $ | 34,134 | $ | 81 | ||||||||||||||
The following table presents the aging of payments of the loan portfolio: | ||||||||||||||||||||||
(Dollars in thousands) | Loans Past Due and Still Accruing | Total | ||||||||||||||||||||
Current | 30-59 Days | 60-89 Days | 90 Days+ | Total | Non-Accrual | Loans | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 159,292 | $ | 316 | $ | 213 | $ | 392 | $ | 921 | $ | 1,275 | $ | 161,488 | ||||||||
Junior liens and lines of credit | 39,811 | 111 | 28 | 11 | 150 | 110 | 40,071 | |||||||||||||||
Total | 199,103 | 427 | 241 | 403 | 1,071 | 1,385 | 201,559 | |||||||||||||||
Residential real estate - construction | 10,138 | - | 619 | - | 619 | 525 | 11,282 | |||||||||||||||
Commercial real estate | 303,567 | 546 | 2,167 | - | 2,713 | 16,185 | 322,465 | |||||||||||||||
Commercial | 187,344 | 225 | 18 | - | 243 | 2,543 | 190,130 | |||||||||||||||
Consumer | 7,160 | 84 | 31 | 8 | 123 | - | 7,283 | |||||||||||||||
Total | $ | 707,312 | $ | 1,282 | $ | 3,076 | $ | 411 | $ | 4,769 | $ | 20,638 | $ | 732,719 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 156,916 | $ | 1,725 | $ | 497 | $ | 302 | $ | 2,524 | $ | 2,599 | $ | 162,039 | ||||||||
Junior liens and lines of credit | 40,204 | 204 | 19 | 41 | 264 | 107 | 40,575 | |||||||||||||||
Total | 197,120 | 1,929 | 516 | 343 | 2,788 | 2,706 | 202,614 | |||||||||||||||
Residential real estate - construction | 11,458 | 523 | - | - | 523 | 538 | 12,519 | |||||||||||||||
Commercial real estate | 309,531 | 634 | - | 207 | 841 | 19,001 | 329,373 | |||||||||||||||
Commercial | 167,747 | 78 | 60 | 44 | 182 | 2,398 | 170,327 | |||||||||||||||
Consumer | 8,430 | 117 | 23 | 10 | 150 | - | 8,580 | |||||||||||||||
Total | $ | 694,286 | $ | 3,281 | $ | 599 | $ | 604 | $ | 4,484 | $ | 24,643 | $ | 723,413 | ||||||||
The following table reports the internal credit rating for the loan portfolio. Consumer purpose loans (mortgage, home equity and installment) are assigned a rating of either pass or substandard. Substandard consumer loans are comprised of loans 90 days or more past due and still accruing and nonaccrual loans. Commercial loans may be assigned any rating in accordance with the Bank’s internal risk rating system. | ||||||||||||||||||||||
(Dollars in thousands) | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 153,596 | $ | 2,880 | $ | 5,012 | $ | - | $ | 161,488 | ||||||||||||
Junior liens and lines of credit | 39,708 | - | 363 | - | 40,071 | |||||||||||||||||
Total | 193,304 | 2,880 | 5,375 | - | 201,559 | |||||||||||||||||
Residential real estate - construction | 10,128 | - | 1,154 | - | 11,282 | |||||||||||||||||
Commercial real estate | 285,623 | 6,514 | 30,328 | - | 322,465 | |||||||||||||||||
Commercial | 171,302 | 9,134 | 9,694 | - | 190,130 | |||||||||||||||||
Consumer | 7,275 | - | 8 | - | 7,283 | |||||||||||||||||
Total | $ | 667,632 | $ | 18,528 | $ | 46,559 | $ | - | $ | 732,719 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 150,762 | $ | 3,653 | $ | 7,624 | $ | - | $ | 162,039 | ||||||||||||
Junior liens and lines of credit | 40,102 | 66 | 407 | - | 40,575 | |||||||||||||||||
Total | 190,864 | 3,719 | 8,031 | - | 202,614 | |||||||||||||||||
Residential real estate - construction | 10,955 | - | 1,564 | - | 12,519 | |||||||||||||||||
Commercial real estate | 281,857 | 11,861 | 35,655 | - | 329,373 | |||||||||||||||||
Commercial | 154,888 | 3,393 | 12,046 | - | 170,327 | |||||||||||||||||
Consumer | 8,570 | - | 10 | - | 8,580 | |||||||||||||||||
Total | $ | 647,134 | $ | 18,973 | $ | 57,306 | $ | - | $ | 723,413 | ||||||||||||
The following table presents information on the Bank’s Troubled Debt Restructuring (TDR) loans: | ||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||
That Have Defaulted on | ||||||||||||||||||||||
(Dollars in thousands) | Troubled Debt Restructurings | Modified Terms YTD | ||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||
Contracts | Investment | Performing* | Nonperforming* | Contracts | Investment | |||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential real estate - construction | 1 | $ | 525 | $ | - | $ | 525 | - | $ | - | ||||||||||||
Residential real estate | 5 | 603 | 603 | - | - | - | ||||||||||||||||
Commercial real estate | 12 | 15,556 | 14,609 | 947 | - | - | ||||||||||||||||
Total | 18 | $ | 16,684 | $ | 15,212 | $ | 1,472 | - | $ | - | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential real estate - construction | 1 | $ | 537 | $ | - | $ | 537 | - | $ | - | ||||||||||||
Residential real estate | 5 | 625 | 625 | - | - | - | ||||||||||||||||
Commercial real estate | 12 | 15,877 | 14,318 | 1,559 | - | - | ||||||||||||||||
Total | 18 | $ | 17,039 | $ | 14,943 | $ | 2,096 | - | $ | - | ||||||||||||
*The performing status is determined by the loan’s compliance with the modified terms. | ||||||||||||||||||||||
There were no new TDR loans made during 2014. | ||||||||||||||||||||||
The following table reports new TDR loans made during 2013, concession granted and the recorded investment as of June 30, 2013: | ||||||||||||||||||||||
New During Period | ||||||||||||||||||||||
Number of | Pre-TDR | After-TDR | Recorded | |||||||||||||||||||
Three Months Ended June 30, 2013 | Contracts | Modification | Modification | Investment | Concession | |||||||||||||||||
Residential real estate | 1 | $ | 75 | $ | 75 | $ | 75 | multiple | ||||||||||||||
Commercial real estate | 1 | 8,014 | 8,014 | 8,014 | multiple | |||||||||||||||||
2 | $ | 8,089 | $ | 8,089 | $ | 8,089 | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||
Residential real estate | 1 | $ | 75 | $ | 75 | $ | 75 | multiple | ||||||||||||||
Commercial real estate | 2 | 10,458 | 10,745 | 10,659 | multiple | |||||||||||||||||
3 | $ | 10,533 | $ | 10,820 | $ | 10,734 | ||||||||||||||||
Pension
Pension | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Pension [Abstract] | ' | |||||||||||
Pension | ' | |||||||||||
Note 8. Pension | ||||||||||||
The components of pension expense for the periods presented are as follows: | ||||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||
Components of net periodic cost: | ||||||||||||
Service cost | $ | 83 | $ | 114 | $ | 169 | $ | 228 | ||||
Interest cost | 194 | 179 | 391 | 358 | ||||||||
Expected return on plan assets | -291 | -312 | -581 | -624 | ||||||||
Recognized net actuarial loss | 81 | 159 | 163 | 318 | ||||||||
Net period cost | $ | 67 | $ | 140 | $ | 142 | $ | 280 | ||||
The Bank expects its pension expense to decrease to approximately $275 thousand in 2014 compared to $560 thousand in 2013. | ||||||||||||
Fair_Value_Measurements_And_Fa
Fair Value Measurements And Fair Values Of Financial Instruments | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | ' | ||||||||||||||
Fair Value Measurements And Fair Values Of Financial Instruments | ' | ||||||||||||||
Note 9. Fair Value Measurements and Fair Values of Financial Instruments | |||||||||||||||
Management uses its best judgment in estimating the fair value of the Corporation’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Corporation could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates maybe different than the amounts reported at each year-end. | |||||||||||||||
FASB ASC Topic 820, “Financial Instruments”, requires disclosure of the fair value of financial assets and liabilities, including those financial assets and liabilities that are not measured and reported at fair value on a recurring and nonrecurring basis. The Corporation does not report any nonfinancial assets at fair value. FASB ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC Topic 820 are as follows: | |||||||||||||||
Level 1: Valuation is based on unadjusted, quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | |||||||||||||||
Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. There may be substantial differences in the assumptions used for securities within the same level. For example, prices for U.S. Agency securities have fewer assumptions and are closer to level 1 valuations than the private label mortgage backed securities that require more assumptions and are closer to level 3 valuations. | |||||||||||||||
Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Corporation’s assumptions regarding what market participants would assume when pricing a financial instrument. | |||||||||||||||
An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||
The following methods and assumptions were used to estimate the fair values of the Corporation’s financial instruments at June 30, 2014 and December 31, 2013. | |||||||||||||||
Cash and Cash Equivalents: For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||
Investment securities: The fair value of investment securities is determined in accordance with the methods described under FASB ASC Topic 820 as discussed below. | |||||||||||||||
Restricted stock: The carrying value of restricted stock approximates its fair value based on redemption provisions for the restricted stock. | |||||||||||||||
Loans held for sale: The fair value of loans held for sale is determined by the price set between the Bank and the purchaser prior to origination. These loans are usually sold at par. | |||||||||||||||
Net loans: The fair value of fixed-rate loans is estimated for each major type of loan (e.g. real estate, commercial, industrial and agricultural and consumer) by discounting the future cash flows associated with such loans using rates currently offered for loans with similar terms to borrowers of comparable credit quality. The model considers scheduled principal maturities, repricing characteristics, prepayment assumptions and interest cash flows. The discount rates used are estimated based upon consideration of a number of factors including the treasury yield curve, expense and service charge factors. For variable rate loans that reprice frequently and have no significant change in credit quality, carrying values approximate the fair value. | |||||||||||||||
Accrued Interest Receivable: The carrying amount is a reasonable estimate of fair value. | |||||||||||||||
Mortgage servicing rights: The fair value of mortgage servicing rights is based on observable market prices when available or the present value of expected future cash flows when not available. Assumptions such as loan default rates, costs to service, and prepayment speeds significantly affect the estimate of future cash flows. Mortgage servicing rights are carried at the lower of cost or fair value. | |||||||||||||||
Deposits, Securities sold under agreements to repurchase and Long-term debt: The fair value of demand deposits, savings accounts, and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-rate certificates of deposit and long-term debt is estimated by discounting the future cash flows using rates approximating those currently offered for certificates of deposit and borrowings with similar remaining maturities. For securities sold under agreements to repurchase, the carrying value approximates a reasonable estimate of the fair value. | |||||||||||||||
Accrued interest payable: The carrying amount is a reasonable estimate of fair value. | |||||||||||||||
Derivatives: The fair value of the interest rate swaps is based on other similar financial instruments and is classified as Level 2. | |||||||||||||||
The following information regarding the fair value of the Corporation’s financial instruments should not be interpreted as an estimate of the fair value of the entire Corporation since a fair value calculation is only provided for a limited portion of the Corporation’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Corporation’s disclosures and those of other companies may not be meaningful. | |||||||||||||||
The fair value of the Corporation's financial instruments are as follows: | |||||||||||||||
30-Jun-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 54,791 | $ | 54,791 | $ | 54,791 | $ | - | $ | - | |||||
Investment securities available for sale | 175,419 | 175,419 | 394 | 175,025 | - | ||||||||||
Restricted stock | 1,938 | 1,938 | - | 1,938 | - | ||||||||||
Loans held for sale | 600 | 600 | - | 600 | - | ||||||||||
Net loans | 723,200 | 726,748 | - | - | 726,748 | ||||||||||
Accrued interest receivable | 3,210 | 3,210 | - | 3,210 | - | ||||||||||
Mortgage servicing rights | 176 | 176 | - | - | 176 | ||||||||||
Financial liabilities: | |||||||||||||||
Deposits | $ | 900,704 | $ | 901,068 | $ | - | $ | 901,068 | $ | - | |||||
Securities sold under agreements to repurchase | 2,264 | 2,264 | - | 2,264 | - | ||||||||||
Long-term debt | 12,000 | 12,418 | - | 12,418 | - | ||||||||||
Accrued interest payable | 206 | 206 | - | 206 | - | ||||||||||
Interest rate swaps | 384 | 384 | - | 384 | - | ||||||||||
31-Dec-13 | |||||||||||||||
Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 40,745 | $ | 40,745 | $ | 40,745 | $ | - | $ | - | |||||
Investment securities available for sale | 159,674 | 159,674 | 1,970 | 157,704 | - | ||||||||||
Restricted stock | 1,906 | 1,906 | - | 1,906 | - | ||||||||||
Loans held for sale | 349 | 349 | - | 349 | - | ||||||||||
Net loans | 713,711 | 722,119 | - | - | 722,119 | ||||||||||
Accrued interest receivable | 3,087 | 3,087 | - | 3,087 | - | ||||||||||
Mortgage servicing rights | 184 | 184 | - | - | 184 | ||||||||||
Financial liabilities: | |||||||||||||||
Deposits | $ | 845,724 | $ | 846,289 | $ | - | $ | 846,289 | $ | - | |||||
Securities sold under agreements to repurchase | 23,834 | 23,834 | - | 23,834 | - | ||||||||||
Long-term debt | 12,403 | 12,999 | - | 12,999 | - | ||||||||||
Accrued interest payable | 229 | 229 | - | 229 | - | ||||||||||
Interest rate swaps | 561 | 561 | - | 561 | - | ||||||||||
Recurring Fair Value Measurements | |||||||||||||||
For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||
(Dollars in Thousands) | Fair Value at June 30, 2014 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Equity securities | $ | 394 | $ | - | $ | - | $ | 394 | |||||||
Obligations of U.S. Government agencies | - | 15,395 | - | 15,395 | |||||||||||
Obligations of state and political subdivisions | - | 65,050 | - | 65,050 | |||||||||||
Corporate debt securities | - | 1,000 | - | 1,000 | |||||||||||
Trust Preferred Securities | - | 5,306 | - | 5,306 | |||||||||||
Agency mortgage-backed securities | - | 86,352 | - | 86,352 | |||||||||||
Private-label mortgage-backed securities | - | 1,876 | - | 1,876 | |||||||||||
Asset-backed securities | - | 46 | - | 46 | |||||||||||
Total assets | $ | 394 | $ | 175,025 | $ | - | $ | 175,419 | |||||||
Liability Description | |||||||||||||||
Interest rate swaps | $ | - | $ | 384 | $ | - | $ | 384 | |||||||
Total liabilities | $ | - | $ | 384 | $ | - | $ | 384 | |||||||
(Dollars in Thousands) | Fair Value at December 31, 2013 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Equity securities | $ | 1,970 | $ | - | $ | - | $ | 1,970 | |||||||
Obligations of U.S. Government agencies | - | 11,751 | - | 11,751 | |||||||||||
Obligations of state and political subdivisions | - | 56,857 | - | 56,857 | |||||||||||
Corporate debt securities | - | 1,001 | - | 1,001 | |||||||||||
Trust Preferred Securities | - | 5,051 | - | 5,051 | |||||||||||
Agency mortgage-backed securities | - | 81,027 | - | 81,027 | |||||||||||
Private-label mortgage-backed securities | - | 1,969 | - | 1,969 | |||||||||||
Asset-backed securities | - | 48 | - | 48 | |||||||||||
Total assets | $ | 1,970 | $ | 157,704 | $ | - | $ | 159,674 | |||||||
Liability Description | |||||||||||||||
Interest rate swaps | $ | - | $ | 561 | $ | - | $ | 561 | |||||||
Total liabilities | $ | - | $ | 561 | $ | - | $ | 561 | |||||||
The Corporation used the following methods and significant assumptions to estimate the fair values for financial assets measured at fair value on a recurring basis. | |||||||||||||||
Investment securities: Level 1 securities represent equity securities that are valued using quoted market prices from nationally recognized markets. Level 2 securities represent debt securities that are valued using a mathematical model based upon the specific characteristics of a security in relationship to quoted prices for similar securities. | |||||||||||||||
Interest rate swaps: The interest rate swaps are valued using a discounted cash flow model that uses verifiable market environment inputs to calculate the fair value. This method is not dependent on the input of any significant judgments or assumptions by Management. | |||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||
For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||
Fair Value at June 30, 2014 | |||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Impaired loans (1) | $ | - | $ | - | $ | 2,730 | $ | 2,730 | |||||||
Other real estate owned (1) | - | - | 831 | 831 | |||||||||||
Mortgage servicing rights | - | - | 176 | 176 | |||||||||||
Total assets | $ | - | $ | - | $ | 3,737 | $ | 3,737 | |||||||
(Dollars in Thousands) | Fair Value at December 31, 2013 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Impaired loans (1) | $ | - | $ | - | $ | 8,588 | $ | 8,588 | |||||||
Other real estate owned (1) | - | - | 498 | 498 | |||||||||||
Mortgage servicing rights | - | - | 184 | 184 | |||||||||||
Total assets | $ | - | $ | - | $ | 9,270 | $ | 9,270 | |||||||
-1 | Includes assets directly charged-down to fair value during the year-to-date period. | ||||||||||||||
The Corporation used the following methods and significant assumptions to estimate the fair values for financial assets measured at fair value on a nonrecurring basis. | |||||||||||||||
Impaired loans: 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 3 inputs based on customized discounting criteria. | |||||||||||||||
Other real estate: The fair value of other real estate, upon initial recognition, is estimated using Level 2 inputs within the fair value hierarchy based on observable market data and Level 3 inputs based on customized discounting criteria. In connection with the measurement and initial recognition of the foregoing assets, the Corporation recognizes charge-offs through the allowance for loan losses. | |||||||||||||||
Mortgage servicing rights: The fair value of mortgage servicing rights, upon initial recognition, is estimated using a valuation model that calculates the present value of estimated future net servicing income. The model incorporates Level 3 assumptions such as cost to service, discount rate, prepayment speeds, default rates and losses. | |||||||||||||||
The Corporation did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis at June 30, 2014. For financial assets and liabilities measured at fair value on a recurring basis, there were no transfers of financial assets or liabilities between Level 1 and Level 2 during the period ending June 30, 2014. | |||||||||||||||
The following table presents additional quantitative information about Level 3 assets measured at fair value on a nonrecurring basis: | |||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||
(Dollars in Thousands) | at June 30, 2014 | ||||||||||||||
Range | |||||||||||||||
Asset Description | Fair Value | Valuation Technique | Unobservable Input | (Weighted Average) | |||||||||||
Impaired loans (1) | $ | 2,730 | Appraisal | Appraisal Adjustments (2) | 0% - 100% (30.44%) | ||||||||||
Cost to sell | 0% - 10% (4.70%) | ||||||||||||||
Other real estate owned (1) | 831 | Appraisal | Appraisal Adjustments (2) | ||||||||||||
Cost to sell | 8% (8%) | ||||||||||||||
Mortgage servicing rights | 176 | Discounted Cash Flow (3) | |||||||||||||
at December 31, 2013 | |||||||||||||||
Impaired loans (1) | $ | 8,588 | Appraisal | Appraisal Adjustments (2) | 0% - 60% (5%) | ||||||||||
Cost to sell | 5% - 13.5% (7%) | ||||||||||||||
Other real estate owned (1) | 498 | Appraisal | Appraisal Adjustments (2) | ||||||||||||
Cost to sell | 8% (8%) | ||||||||||||||
Mortgage servicing rights | 184 | Discounted Cash Flow (3) | |||||||||||||
(1) Includes assets directly charged-down to fair value during the year-to-date period. | |||||||||||||||
(2) Qualitative adjustments are discounts specific to each asset and are made as needed. | |||||||||||||||
(3) Valuation and inputs are determined by a third-party pricing service without adjustment. | |||||||||||||||
Financial_Derivatives
Financial Derivatives | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Financial Derivatives [Abstract] | ' | |||||||||||||||||
Financial Derivatives | ' | |||||||||||||||||
Note 10. Financial Derivatives | ||||||||||||||||||
The Board of Directors has given Management authorization to enter into additional derivative activity including interest rate swaps, caps and floors, forward-rate agreements, options and futures contracts in order to hedge interest rate risk. The Bank is exposed to credit risk equal to the positive fair value of a derivative instrument, if any, as a positive fair value indicates that the counterparty to the agreement is financially liable to the Bank. To limit this risk, counterparties must have an investment grade long-term debt rating and individual counterparty credit exposure is limited by Board approved parameters. Management anticipates continuing to use derivatives, as permitted by its Board-approved policy, to manage interest rate risk. | ||||||||||||||||||
Information regarding the interest rate swaps as of June 30, 2014 follows: | ||||||||||||||||||
(Dollars in thousands) | Amount Expected to | |||||||||||||||||
be Expensed into | ||||||||||||||||||
Notional | Maturity | Interest Rate | Earnings within the | |||||||||||||||
Amount | Date | Fixed | Variable | next 12 Months | ||||||||||||||
$ | 10,000 | 5/30/15 | 3.87% | 0.04% | $ | 351 | ||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets were as follows as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||
(Dollars in thousands) | Balance Sheet | |||||||||||||||||
Date | Type | Location | Fair Value | |||||||||||||||
30-Jun-14 | Interest rate contracts | Other liabilities | $ | 384 | ||||||||||||||
31-Dec-13 | Interest rate contracts | Other liabilities | $ | 561 | ||||||||||||||
The Effect of Derivative Instruments on the Statement of Income for the Three and Six Months Ended June 30, 2014 and 2013 follows: | ||||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | ||||||||||||||||||
(Dollars in thousands) | Amount of Gain | |||||||||||||||||
Location of | or (Loss) | |||||||||||||||||
Gain or (Loss) | Recognized in | |||||||||||||||||
Recognized in | Income on | |||||||||||||||||
Location of | Amount of Gain | Income on | Derivatives | |||||||||||||||
Amount of Gain | Gain or (Loss) | or (Loss) | Derivative (Ineffective | (Ineffective Portion | ||||||||||||||
or (Loss) | Reclassified from | Reclassified from | Portion and Amount | and Amount | ||||||||||||||
Recognized in OCI | Accumulated OCI | Accumulated OCI | Excluded from | Excluded from | ||||||||||||||
net of tax on Derivative | into Income | into Income | Effectiveness | Effectiveness | ||||||||||||||
Date / Type | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Testing) | |||||||||||||
Interest rate contracts | ||||||||||||||||||
Three months ended: | ||||||||||||||||||
30-Jun-14 | $ | 60 | Interest Expense | $ | -94 | Other income (expense) | $ | - | ||||||||||
30-Jun-13 | $ | 128 | Interest Expense | $ | -152 | Other income (expense) | $ | - | ||||||||||
Six months ended: | ||||||||||||||||||
30-Jun-14 | $ | 117 | Interest Expense | $ | -189 | Other income (expense) | $ | - | ||||||||||
30-Jun-13 | $ | 248 | Interest Expense | $ | -332 | Other income (expense) | $ | - | ||||||||||
Interest Rate Swap Agreements (“Swap Agreements”) | ||||||||||||||||||
The Bank has entered into interest rate swap agreements as part of its asset/liability management program. The swap agreements are free-standing derivatives and are recorded at fair value in the Corporation’s consolidated statements of condition. The Bank is party to master netting arrangements with its financial institution counterparties; however, the Bank does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, in the form of marketable securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. | ||||||||||||||||||
Securities Sold Under Agreements to Repurchase (“Repurchase Agreements”) | ||||||||||||||||||
The Bank enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Bank may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Bank to repurchase the agreements. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability in the Corporation’s consolidated statements of condition, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Bank does not enter into reverse repurchase agreements, there is no such offsetting to be done with repurchase agreements. | ||||||||||||||||||
The following table presents the liabilities subject to an enforceable master netting arrangement or repurchase agreements as of June 30, 2014 and December 31, 2013. As of these dates, all of the Bank’s swap agreement with an institutional counterparty was in a liability position. Therefore, there were no assets to be recognized in the consolidated statements of condition. The Bank has no swap agreements with our commercial banking customers. | ||||||||||||||||||
Net Amounts | Gross Amounts Not Offset in the | |||||||||||||||||
Gross | Gross Amounts | of Liabilities | Statements of Condition | |||||||||||||||
Amounts of | Offset in the | Presented in the | ||||||||||||||||
Recognized | Statements of | Statements of | Financial | Cash Collateral | Net | |||||||||||||
(Dollars in thousands) | Liabilities | Condition | Condition | Instruments | Pledged | Amount | ||||||||||||
Interest Rate Swap Agreements | ||||||||||||||||||
30-Jun-14 | $ | 384 | $ | - | $ | 384 | $ | 384 | $ | - | $ | - | ||||||
31-Dec-13 | $ | 561 | $ | - | $ | 561 | $ | 561 | $ | - | $ | - | ||||||
Reclassifications
Reclassifications | 6 Months Ended |
Jun. 30, 2014 | |
Reclassifications [Abstract] | ' |
Reclassifications | ' |
1Note 11. Reclassification | |
Certain prior period amounts may have been reclassified to conform to the current year presentation. Such reclassifications did not affect reported net income. | |
Basis_Of_Presentation_Policy
Basis Of Presentation (Policy) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Basis Of Presentation [Abstract] | ' | |||||||||||
Consolidation | ' | |||||||||||
The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Property Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. | ||||||||||||
In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of June 30, 2014, and for all other periods presented have been made. | ||||||||||||
Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2013 Annual Report on Form 10-K. The consolidated results of operations for the period ended June 30, 2014 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. | ||||||||||||
The consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. | ||||||||||||
For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. | ||||||||||||
Earnings Per Share | ' | |||||||||||
Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: | ||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
30-Jun | 30-Jun | |||||||||||
(Dollars and shares in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | ||||||||
Weighted average shares outstanding (basic) | 4,184 | 4,126 | 4,178 | 4,119 | ||||||||
Impact of common stock equivalents | 7 | 7 | 6 | 7 | ||||||||
Weighted average shares outstanding (diluted) | 4,191 | 4,133 | 4,184 | 4,126 | ||||||||
Anti-dilutive options excluded from calculation | 34 | 46 | 37 | 57 | ||||||||
Net income | $ | 2,319 | $ | 1,355 | $ | 4,145 | $ | 2,906 | ||||
Basic earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.71 | ||||
Diluted earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.70 | ||||
Basis_Of_Presentation_Tables
Basis Of Presentation (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Basis Of Presentation [Abstract] | ' | |||||||||||
Schedule Of Earnings Per Share, Basic And Diluted | ' | |||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||
30-Jun | 30-Jun | |||||||||||
(Dollars and shares in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | ||||||||
Weighted average shares outstanding (basic) | 4,184 | 4,126 | 4,178 | 4,119 | ||||||||
Impact of common stock equivalents | 7 | 7 | 6 | 7 | ||||||||
Weighted average shares outstanding (diluted) | 4,191 | 4,133 | 4,184 | 4,126 | ||||||||
Anti-dilutive options excluded from calculation | 34 | 46 | 37 | 57 | ||||||||
Net income | $ | 2,319 | $ | 1,355 | $ | 4,145 | $ | 2,906 | ||||
Basic earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.71 | ||||
Diluted earnings per share | $ | 0.55 | $ | 0.33 | $ | 0.99 | $ | 0.70 | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended | |||||
Jun. 30, 2014 | ||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||
Schedule Of Accumulated Other Comprehensive Loss | ' | |||||
30-Jun | 31-Dec | |||||
2014 | 2013 | |||||
(Dollars in thousands) | ||||||
Net unrealized gains (losses) on securities | $ | 1,232 | $ | -741 | ||
Tax effect | -419 | 252 | ||||
Net of tax amount | 813 | -489 | ||||
Net unrealized losses on derivatives | -384 | -561 | ||||
Tax effect | 131 | 191 | ||||
Net of tax amount | -253 | -370 | ||||
Accumulated pension adjustment | -5,814 | -5,814 | ||||
Tax effect | 1,977 | 1,977 | ||||
Net of tax amount | -3,837 | -3,837 | ||||
Total accumulated other comprehensive loss | $ | -3,277 | $ | -4,696 | ||
Investments_Tables
Investments (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Unrealized Gain (Loss) On Investments | ' | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Fair | |||||||||||||||||||||
30-Jun-14 | cost | gains | losses | value | ||||||||||||||||||||
Equity securities | $ | 110 | $ | 284 | $ | - | $ | 394 | ||||||||||||||||
U.S. Government agency securities | 15,376 | 99 | -80 | 15,395 | ||||||||||||||||||||
Municipal securities | 64,018 | 1,762 | -730 | 65,050 | ||||||||||||||||||||
Corporate debt securities | 1,000 | - | - | 1,000 | ||||||||||||||||||||
Trust preferred securities | 5,931 | - | -625 | 5,306 | ||||||||||||||||||||
Agency mortgage-backed securities | 85,859 | 905 | -412 | 86,352 | ||||||||||||||||||||
Private-label mortgage-backed securities | 1,845 | 45 | -14 | 1,876 | ||||||||||||||||||||
Asset-backed securities | 48 | - | -2 | 46 | ||||||||||||||||||||
$ | 174,187 | $ | 3,095 | $ | -1,863 | $ | 175,419 | |||||||||||||||||
(Dollars in thousands) | Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Fair | |||||||||||||||||||||
31-Dec-13 | cost | gains | losses | value | ||||||||||||||||||||
Equity securities | $ | 1,472 | $ | 499 | $ | -1 | $ | 1,970 | ||||||||||||||||
U.S. Government agency securities | 11,771 | 94 | -114 | 11,751 | ||||||||||||||||||||
Municipal securities | 56,861 | 1,400 | -1,404 | 56,857 | ||||||||||||||||||||
Corporate debt securities | 1,002 | - | -1 | 1,001 | ||||||||||||||||||||
Trust preferred securities | 5,922 | - | -871 | 5,051 | ||||||||||||||||||||
Agency mortgage-backed securities | 81,352 | 726 | -1,051 | 81,027 | ||||||||||||||||||||
Private-label mortgage-backed securities | 1,984 | 16 | -31 | 1,969 | ||||||||||||||||||||
Asset-backed securities | 51 | - | -3 | 48 | ||||||||||||||||||||
$ | 160,415 | $ | 2,735 | $ | -3,476 | $ | 159,674 | |||||||||||||||||
Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity | ' | |||||||||||||||||||||||
(Dollars in thousands) | Amortized cost | Fair value | ||||||||||||||||||||||
Due in one year or less | $ | 2,741 | $ | 2,780 | ||||||||||||||||||||
Due after one year through five years | 11,474 | 11,911 | ||||||||||||||||||||||
Due after five years through ten years | 27,749 | 28,064 | ||||||||||||||||||||||
Due after ten years | 44,409 | 44,042 | ||||||||||||||||||||||
86,373 | 86,797 | |||||||||||||||||||||||
Mortgage-backed securities | 87,704 | 88,228 | ||||||||||||||||||||||
$ | 174,077 | $ | 175,025 | |||||||||||||||||||||
Schedule Of Trust Preferred Securities | ' | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Deal Name | Single Issuer or Pooled | Class | Amortized Cost | Fair Value | Gross Unrealized Gain (Loss) | Lowest Credit Rating Assigned | Number of Banks Currently Performing | Deferrals and Defaults as % of Original Collateral | Expected Deferral/ Defaults as a Percentage of Remaining Performing Collateral | |||||||||||||||
Huntington Cap Trust | Single | Preferred Stock | $ | 937 | $ | 844 | $ | -93 | BB+ | 1 | None | None | ||||||||||||
Huntington Cap Trust II | Single | Preferred Stock | 887 | 821 | -66 | BB+ | 1 | None | None | |||||||||||||||
BankAmerica Cap III | Single | Preferred Stock | 962 | 836 | -126 | BB+ | 1 | None | None | |||||||||||||||
Wachovia Cap Trust II | Single | Preferred Stock | 276 | 257 | -19 | BBB+ | 1 | None | None | |||||||||||||||
Corestates Captl Tr II | Single | Preferred Stock | 934 | 871 | -63 | BBB+ | 1 | None | None | |||||||||||||||
Chase Cap VI JPM | Single | Preferred Stock | 961 | 865 | -96 | BBB | 1 | None | None | |||||||||||||||
Fleet Cap Tr V | Single | Preferred Stock | 974 | 812 | -162 | BB+ | 1 | None | None | |||||||||||||||
$ | 5,931 | $ | 5,306 | $ | -625 | |||||||||||||||||||
Private Label Mortgage Backed Securities | ' | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Cumulative | ||||||||||||||||||||||
Origination | Amortized | Fair | Unrealized | Collateral | Lowest Credit | Credit | OTTI | |||||||||||||||||
Description | Date | Cost | Value | Gain (Loss) | Type | Rating Assigned | Support % | Charges | ||||||||||||||||
RALI 2004-QS4 A7 | 3/1/04 | $ | 129 | $ | 134 | $ | 5 | ALT A | BBB+ | 12.53 | $ | - | ||||||||||||
MALT 2004-6 7A1 | 6/1/04 | 424 | 444 | 20 | ALT A | CCC | 14.38 | - | ||||||||||||||||
RALI 2005-QS2 A1 | 2/1/05 | 308 | 321 | 13 | ALT A | CC | 5.78 | 10 | ||||||||||||||||
RALI 2006-QS4 A2 | 4/1/06 | 575 | 567 | -8 | ALT A | D | - | 293 | ||||||||||||||||
GSR 2006-5F 2A1 | 5/1/06 | 91 | 98 | 7 | Prime | D | - | 15 | ||||||||||||||||
RALI 2006-QS8 A1 | 7/28/06 | 318 | 312 | -6 | ALT A | D | - | 197 | ||||||||||||||||
$ | 1,845 | $ | 1,876 | $ | 31 | $ | 515 | |||||||||||||||||
Schedule Of Unrealized Loss On Investments | ' | |||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
(Dollars in thousands) | Value | Losses | Count | Value | Losses | Count | Value | Losses | Count | |||||||||||||||
U.S. Government agency securities | $ | 2,078 | $ | -2 | 3 | $ | 7,509 | $ | -78 | 13 | $ | 9,587 | $ | -80 | 16 | |||||||||
Municipal securities | 10,051 | -111 | 14 | 15,070 | -619 | 21 | 25,121 | -730 | 35 | |||||||||||||||
Trust preferred securities | - | - | - | 5,306 | -625 | 7 | 5,306 | -625 | 7 | |||||||||||||||
Agency mortgage-backed securities | 20,400 | -126 | 21 | 14,472 | -286 | 17 | 34,872 | -412 | 38 | |||||||||||||||
Private-label mortgage-backed securities | - | - | - | 879 | -14 | 2 | 879 | -14 | 2 | |||||||||||||||
Asset-backed securities | - | - | - | 5 | -2 | 1 | 5 | -2 | 1 | |||||||||||||||
Total temporarily impaired securities | $ | 32,529 | $ | -239 | 38 | $ | 43,241 | $ | -1,624 | 61 | $ | 75,770 | $ | -1,863 | 99 | |||||||||
31-Dec-13 | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
(Dollars in thousands) | Value | Losses | Count | Value | Losses | Count | Value | Losses | Count | |||||||||||||||
Equity securities | $ | 22 | $ | -1 | 1 | $ | - | $ | - | - | $ | 22 | $ | -1 | 1 | |||||||||
U.S. Government agency securities | 3,971 | -85 | 7 | 3,807 | -29 | 7 | 7,778 | -114 | 14 | |||||||||||||||
Municipal securities | 16,770 | -1,022 | 24 | 3,160 | -382 | 4 | 19,930 | -1,404 | 28 | |||||||||||||||
Corporate debt securities | - | - | - | 1,001 | -1 | 1 | 1,001 | -1 | 1 | |||||||||||||||
Trust preferred securities | - | - | - | 5,051 | -871 | 7 | 5,051 | -871 | 7 | |||||||||||||||
Agency mortgage-backed securities | 40,395 | -999 | 38 | 2,213 | -52 | 4 | 42,608 | -1,051 | 42 | |||||||||||||||
Private-label mortgage-backed securities | - | - | - | 911 | -31 | 2 | 911 | -31 | 2 | |||||||||||||||
Asset-backed securities | - | - | - | 48 | -3 | 3 | 48 | -3 | 3 | |||||||||||||||
Total temporarily impaired securities | $ | 61,158 | $ | -2,107 | 70 | $ | 16,191 | $ | -1,369 | 28 | $ | 77,349 | $ | -3,476 | 98 | |||||||||
Loans_Tables
Loans (Tables) | 6 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Loans [Abstract] | ' | ||||||||||
Schedule Of Loans Outstanding | ' | ||||||||||
Change | |||||||||||
(Dollars in thousands) | 30-Jun-14 | 31-Dec-13 | Amount | % | |||||||
Residential Real Estate 1-4 Family | |||||||||||
Consumer first liens | $ | 102,849 | $ | 103,573 | $ | -724 | -0.7 | ||||
Consumer junior liens and lines of credit | 35,131 | 34,636 | 495 | 1.4 | |||||||
Total consumer | 137,980 | 138,209 | -229 | -0.2 | |||||||
Commercial first lien | 58,639 | 58,466 | 173 | 0.3 | |||||||
Commercial junior liens and lines of credit | 4,940 | 5,939 | -999 | -16.8 | |||||||
Total commercial | 63,579 | 64,405 | -826 | -1.3 | |||||||
Total residential real estate 1-4 family | 201,559 | 202,614 | -1,055 | -0.5 | |||||||
Residential real estate - construction | |||||||||||
Consumer | 2,414 | 3,960 | -1,546 | -39 | |||||||
Commercial | 8,868 | 8,559 | 309 | 3.6 | |||||||
Total residential real estate construction | 11,282 | 12,519 | -1,237 | -9.9 | |||||||
Commercial real estate | 322,465 | 329,373 | -6,908 | -2.1 | |||||||
Commercial | 190,130 | 170,327 | 19,803 | 11.6 | |||||||
Total commercial | 512,595 | 499,700 | 12,895 | 2.6 | |||||||
Consumer | 7,283 | 8,580 | -1,297 | -15.1 | |||||||
732,719 | 723,413 | 9,306 | 1.3 | ||||||||
Less: Allowance for loan losses | -9,519 | -9,702 | 183 | 1.9 | |||||||
Net Loans | $ | 723,200 | $ | 713,711 | $ | 9,489 | 1.3 | ||||
Included in the loan balances are the following: | |||||||||||
Net unamortized deferred loan costs | $ | 472 | $ | 372 | |||||||
Unamortized discount on purchased loans | $ | -49 | $ | -92 | |||||||
Loans pledged as collateral for borrowings and commitments from: | |||||||||||
FHLB | $ | 594,772 | $ | 607,524 | |||||||
Federal Reserve Bank | 57,689 | 45,809 | |||||||||
$ | 652,461 | $ | 653,333 | ||||||||
Loan_Quality_Tables
Loan Quality (Tables) | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Loan Quality [Abstract] | ' | |||||||||||||||||||||
Allowance For Loan Losses, By Loan Segment | ' | |||||||||||||||||||||
The following table presents, by class, the activity in the Allowance for Loan Losses (ALL) for the periods ended: | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
Junior Liens & | Commercial | |||||||||||||||||||||
(Dollars in thousands) | First Liens | Lines of Credit | Construction | Real Estate | Commercial | Consumer | Total | |||||||||||||||
Allowance at March 31, 2014 | $ | 1,133 | $ | 276 | $ | 374 | $ | 5,509 | $ | 2,309 | $ | 144 | $ | 9,745 | ||||||||
Charge-offs | -241 | - | - | -234 | -11 | -37 | -523 | |||||||||||||||
Recoveries | - | - | - | - | 13 | 18 | 31 | |||||||||||||||
Provision | 187 | -10 | -113 | 137 | 55 | 10 | 266 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
Allowance at December 31, 2013 | $ | 1,108 | $ | 278 | $ | 291 | $ | 5,571 | $ | 2,306 | $ | 148 | $ | 9,702 | ||||||||
Charge-offs | -257 | - | -27 | -348 | -12 | -80 | -724 | |||||||||||||||
Recoveries | 3 | - | - | - | 33 | 41 | 77 | |||||||||||||||
Provision | 225 | -12 | -3 | 189 | 39 | 26 | 464 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
Allowance at March 31, 2013 | $ | 973 | $ | 296 | $ | 837 | $ | 6,682 | $ | 1,972 | $ | 183 | $ | 10,943 | ||||||||
Charge-offs | -39 | - | - | - | -317 | -40 | -396 | |||||||||||||||
Recoveries | 1 | - | - | 3 | 68 | 16 | 88 | |||||||||||||||
Provision | 430 | -18 | -136 | 45 | 479 | 3 | 803 | |||||||||||||||
Allowance at June 30, 2013 | $ | 1,365 | $ | 278 | $ | 701 | $ | 6,730 | $ | 2,202 | $ | 162 | $ | 11,438 | ||||||||
Allowance at December 31, 2012 | $ | 913 | $ | 306 | $ | 899 | $ | 6,450 | $ | 1,620 | $ | 191 | $ | 10,379 | ||||||||
Charge-offs | -39 | -45 | - | -167 | -327 | -84 | -662 | |||||||||||||||
Recoveries | 9 | - | - | 3 | 75 | 29 | 116 | |||||||||||||||
Provision | 482 | 17 | -198 | 444 | 834 | 26 | 1,605 | |||||||||||||||
Allowance at June 30, 2013 | $ | 1,365 | $ | 278 | $ | 701 | $ | 6,730 | $ | 2,202 | $ | 162 | $ | 11,438 | ||||||||
The following table presents, by class, loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
Junior Liens & | Commercial | |||||||||||||||||||||
(Dollars in thousands) | First Liens | Lines of Credit | Construction | Real Estate | Commercial | Consumer | Total | |||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Loans evaluated for allowance: | ||||||||||||||||||||||
Individually | $ | 1,158 | $ | 51 | $ | 525 | $ | 22,210 | $ | 1,924 | $ | - | $ | 25,868 | ||||||||
Collectively | 160,330 | 40,020 | 10,757 | 300,255 | 188,206 | 7,283 | 706,851 | |||||||||||||||
Total | $ | 161,488 | $ | 40,071 | $ | 11,282 | $ | 322,465 | $ | 190,130 | $ | 7,283 | $ | 732,719 | ||||||||
Allowance established for loans evaluated: | ||||||||||||||||||||||
Individually | $ | - | $ | - | $ | - | $ | 68 | $ | 957 | $ | - | $ | 1,025 | ||||||||
Collectively | 1,079 | 266 | 261 | 5,344 | 1,409 | 135 | 8,494 | |||||||||||||||
Allowance at June 30, 2014 | $ | 1,079 | $ | 266 | $ | 261 | $ | 5,412 | $ | 2,366 | $ | 135 | $ | 9,519 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
Loans evaluated for allowance: | ||||||||||||||||||||||
Individually | $ | 2,354 | $ | 50 | $ | 537 | $ | 25,107 | $ | 1,996 | $ | - | $ | 30,044 | ||||||||
Collectively | 159,685 | 40,525 | 11,982 | 304,266 | 168,331 | 8,580 | 693,369 | |||||||||||||||
Total | $ | 162,039 | $ | 40,575 | $ | 12,519 | $ | 329,373 | $ | 170,327 | $ | 8,580 | $ | 723,413 | ||||||||
Allowance established for loans evaluated: | ||||||||||||||||||||||
Individually | $ | 9 | $ | - | $ | - | $ | 89 | $ | 1,002 | $ | - | $ | 1,100 | ||||||||
Collectively | 1,099 | 278 | 291 | 5,482 | 1,304 | 148 | 8,602 | |||||||||||||||
Allowance at December 31, 2013 | $ | 1,108 | $ | 278 | $ | 291 | $ | 5,571 | $ | 2,306 | $ | 148 | $ | 9,702 | ||||||||
Impaired Financing Receivables | ' | |||||||||||||||||||||
The following table shows additional information about those loans considered to be impaired at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||
With No Allowance | With Allowance | |||||||||||||||||||||
(Dollars in thousands) | Unpaid | Unpaid | ||||||||||||||||||||
Recorded | Principal | Recorded | Principal | Related | ||||||||||||||||||
30-Jun-14 | Investment | Balance | Investment | Balance | Allowance | |||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 2,271 | $ | 2,348 | $ | - | $ | - | $ | - | ||||||||||||
Junior liens and lines of credit | 120 | 145 | - | - | - | |||||||||||||||||
Total | 2,391 | 2,493 | - | - | - | |||||||||||||||||
Residential real estate - construction | 525 | 553 | - | - | - | |||||||||||||||||
Commercial real estate | 21,338 | 27,103 | 916 | 1,022 | 68 | |||||||||||||||||
Commercial | 139 | 392 | 1,898 | 2,019 | 957 | |||||||||||||||||
Total | $ | 24,393 | $ | 30,541 | $ | 2,814 | $ | 3,041 | $ | 1,025 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 3,030 | $ | 3,500 | $ | 9 | $ | 39 | $ | 9 | ||||||||||||
Junior liens and lines of credit | 108 | 127 | - | - | - | |||||||||||||||||
Total | 3,138 | 3,627 | 9 | 39 | 9 | |||||||||||||||||
Residential real estate - construction | 537 | 556 | - | - | - | |||||||||||||||||
Commercial real estate | 24,188 | 30,334 | 966 | 1,043 | 89 | |||||||||||||||||
Commercial | 88 | 89 | 1,970 | 2,043 | 1,002 | |||||||||||||||||
Total | $ | 27,951 | $ | 34,606 | $ | 2,945 | $ | 3,125 | $ | 1,100 | ||||||||||||
The following table shows the average of impaired loans and related interest income for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||
(Dollars in thousands) | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 2,289 | $ | 15 | $ | 2,753 | $ | 25 | ||||||||||||||
Junior liens and lines of credit | 120 | - | 123 | - | ||||||||||||||||||
Total | 2,409 | 15 | 2,876 | 25 | ||||||||||||||||||
Residential real estate - construction | 527 | - | 530 | - | ||||||||||||||||||
Commercial real estate | 22,399 | 81 | 24,032 | 174 | ||||||||||||||||||
Commercial | 2,056 | - | 2,074 | 1 | ||||||||||||||||||
Total | $ | 27,391 | $ | 96 | $ | 29,512 | $ | 200 | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||
(Dollars in thousands) | Recorded | Income | Recorded | Income | ||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 3,439 | $ | 4 | $ | 4,283 | $ | 8 | ||||||||||||||
Junior liens and lines of credit | 679 | 4 | 722 | 1 | ||||||||||||||||||
Total | 4,118 | 8 | 5,005 | 9 | ||||||||||||||||||
Residential real estate - construction | 550 | - | 692 | - | ||||||||||||||||||
Commercial real estate | 29,705 | 96 | 24,218 | 36 | ||||||||||||||||||
Commercial | 2,454 | - | 4,219 | 36 | ||||||||||||||||||
Total | $ | 36,827 | $ | 104 | $ | 34,134 | $ | 81 | ||||||||||||||
Aging Of Payments Of The Loan Portfolio | ' | |||||||||||||||||||||
(Dollars in thousands) | Loans Past Due and Still Accruing | Total | ||||||||||||||||||||
Current | 30-59 Days | 60-89 Days | 90 Days+ | Total | Non-Accrual | Loans | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 159,292 | $ | 316 | $ | 213 | $ | 392 | $ | 921 | $ | 1,275 | $ | 161,488 | ||||||||
Junior liens and lines of credit | 39,811 | 111 | 28 | 11 | 150 | 110 | 40,071 | |||||||||||||||
Total | 199,103 | 427 | 241 | 403 | 1,071 | 1,385 | 201,559 | |||||||||||||||
Residential real estate - construction | 10,138 | - | 619 | - | 619 | 525 | 11,282 | |||||||||||||||
Commercial real estate | 303,567 | 546 | 2,167 | - | 2,713 | 16,185 | 322,465 | |||||||||||||||
Commercial | 187,344 | 225 | 18 | - | 243 | 2,543 | 190,130 | |||||||||||||||
Consumer | 7,160 | 84 | 31 | 8 | 123 | - | 7,283 | |||||||||||||||
Total | $ | 707,312 | $ | 1,282 | $ | 3,076 | $ | 411 | $ | 4,769 | $ | 20,638 | $ | 732,719 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 156,916 | $ | 1,725 | $ | 497 | $ | 302 | $ | 2,524 | $ | 2,599 | $ | 162,039 | ||||||||
Junior liens and lines of credit | 40,204 | 204 | 19 | 41 | 264 | 107 | 40,575 | |||||||||||||||
Total | 197,120 | 1,929 | 516 | 343 | 2,788 | 2,706 | 202,614 | |||||||||||||||
Residential real estate - construction | 11,458 | 523 | - | - | 523 | 538 | 12,519 | |||||||||||||||
Commercial real estate | 309,531 | 634 | - | 207 | 841 | 19,001 | 329,373 | |||||||||||||||
Commercial | 167,747 | 78 | 60 | 44 | 182 | 2,398 | 170,327 | |||||||||||||||
Consumer | 8,430 | 117 | 23 | 10 | 150 | - | 8,580 | |||||||||||||||
Total | $ | 694,286 | $ | 3,281 | $ | 599 | $ | 604 | $ | 4,484 | $ | 24,643 | $ | 723,413 | ||||||||
Internal Credit Rating For The Loan Portfolio | ' | |||||||||||||||||||||
(Dollars in thousands) | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 153,596 | $ | 2,880 | $ | 5,012 | $ | - | $ | 161,488 | ||||||||||||
Junior liens and lines of credit | 39,708 | - | 363 | - | 40,071 | |||||||||||||||||
Total | 193,304 | 2,880 | 5,375 | - | 201,559 | |||||||||||||||||
Residential real estate - construction | 10,128 | - | 1,154 | - | 11,282 | |||||||||||||||||
Commercial real estate | 285,623 | 6,514 | 30,328 | - | 322,465 | |||||||||||||||||
Commercial | 171,302 | 9,134 | 9,694 | - | 190,130 | |||||||||||||||||
Consumer | 7,275 | - | 8 | - | 7,283 | |||||||||||||||||
Total | $ | 667,632 | $ | 18,528 | $ | 46,559 | $ | - | $ | 732,719 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential Real Estate 1-4 Family | ||||||||||||||||||||||
First liens | $ | 150,762 | $ | 3,653 | $ | 7,624 | $ | - | $ | 162,039 | ||||||||||||
Junior liens and lines of credit | 40,102 | 66 | 407 | - | 40,575 | |||||||||||||||||
Total | 190,864 | 3,719 | 8,031 | - | 202,614 | |||||||||||||||||
Residential real estate - construction | 10,955 | - | 1,564 | - | 12,519 | |||||||||||||||||
Commercial real estate | 281,857 | 11,861 | 35,655 | - | 329,373 | |||||||||||||||||
Commercial | 154,888 | 3,393 | 12,046 | - | 170,327 | |||||||||||||||||
Consumer | 8,570 | - | 10 | - | 8,580 | |||||||||||||||||
Total | $ | 647,134 | $ | 18,973 | $ | 57,306 | $ | - | $ | 723,413 | ||||||||||||
Troubled Debt Restructuring Loans | ' | |||||||||||||||||||||
The following table presents information on the Bank’s Troubled Debt Restructuring (TDR) loans: | ||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||
That Have Defaulted on | ||||||||||||||||||||||
(Dollars in thousands) | Troubled Debt Restructurings | Modified Terms YTD | ||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||
Contracts | Investment | Performing* | Nonperforming* | Contracts | Investment | |||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||
Residential real estate - construction | 1 | $ | 525 | $ | - | $ | 525 | - | $ | - | ||||||||||||
Residential real estate | 5 | 603 | 603 | - | - | - | ||||||||||||||||
Commercial real estate | 12 | 15,556 | 14,609 | 947 | - | - | ||||||||||||||||
Total | 18 | $ | 16,684 | $ | 15,212 | $ | 1,472 | - | $ | - | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Residential real estate - construction | 1 | $ | 537 | $ | - | $ | 537 | - | $ | - | ||||||||||||
Residential real estate | 5 | 625 | 625 | - | - | - | ||||||||||||||||
Commercial real estate | 12 | 15,877 | 14,318 | 1,559 | - | - | ||||||||||||||||
Total | 18 | $ | 17,039 | $ | 14,943 | $ | 2,096 | - | $ | - | ||||||||||||
*The performing status is determined by the loan’s compliance with the modified terms. | ||||||||||||||||||||||
There were no new TDR loans made during 2014. | ||||||||||||||||||||||
The following table reports new TDR loans made during 2013, concession granted and the recorded investment as of June 30, 2013: | ||||||||||||||||||||||
New During Period | ||||||||||||||||||||||
Number of | Pre-TDR | After-TDR | Recorded | |||||||||||||||||||
Three Months Ended June 30, 2013 | Contracts | Modification | Modification | Investment | Concession | |||||||||||||||||
Residential real estate | 1 | $ | 75 | $ | 75 | $ | 75 | multiple | ||||||||||||||
Commercial real estate | 1 | 8,014 | 8,014 | 8,014 | multiple | |||||||||||||||||
2 | $ | 8,089 | $ | 8,089 | $ | 8,089 | ||||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||
Residential real estate | 1 | $ | 75 | $ | 75 | $ | 75 | multiple | ||||||||||||||
Commercial real estate | 2 | 10,458 | 10,745 | 10,659 | multiple | |||||||||||||||||
3 | $ | 10,533 | $ | 10,820 | $ | 10,734 | ||||||||||||||||
Pension_Tables
Pension (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Pension [Abstract] | ' | |||||||||||
Schedule Of Net Periodic Pension Costs | ' | |||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||
Components of net periodic cost: | ||||||||||||
Service cost | $ | 83 | $ | 114 | $ | 169 | $ | 228 | ||||
Interest cost | 194 | 179 | 391 | 358 | ||||||||
Expected return on plan assets | -291 | -312 | -581 | -624 | ||||||||
Recognized net actuarial loss | 81 | 159 | 163 | 318 | ||||||||
Net period cost | $ | 67 | $ | 140 | $ | 142 | $ | 280 | ||||
Fair_Value_Measurements_And_Fa1
Fair Value Measurements And Fair Values Of Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | ' | ||||||||||||||
Fair Value, By Balance Sheet Grouping | ' | ||||||||||||||
30-Jun-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 54,791 | $ | 54,791 | $ | 54,791 | $ | - | $ | - | |||||
Investment securities available for sale | 175,419 | 175,419 | 394 | 175,025 | - | ||||||||||
Restricted stock | 1,938 | 1,938 | - | 1,938 | - | ||||||||||
Loans held for sale | 600 | 600 | - | 600 | - | ||||||||||
Net loans | 723,200 | 726,748 | - | - | 726,748 | ||||||||||
Accrued interest receivable | 3,210 | 3,210 | - | 3,210 | - | ||||||||||
Mortgage servicing rights | 176 | 176 | - | - | 176 | ||||||||||
Financial liabilities: | |||||||||||||||
Deposits | $ | 900,704 | $ | 901,068 | $ | - | $ | 901,068 | $ | - | |||||
Securities sold under agreements to repurchase | 2,264 | 2,264 | - | 2,264 | - | ||||||||||
Long-term debt | 12,000 | 12,418 | - | 12,418 | - | ||||||||||
Accrued interest payable | 206 | 206 | - | 206 | - | ||||||||||
Interest rate swaps | 384 | 384 | - | 384 | - | ||||||||||
31-Dec-13 | |||||||||||||||
Carrying | Fair | ||||||||||||||
(Dollars in thousands) | Amount | Value | Level 1 | Level 2 | Level 3 | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 40,745 | $ | 40,745 | $ | 40,745 | $ | - | $ | - | |||||
Investment securities available for sale | 159,674 | 159,674 | 1,970 | 157,704 | - | ||||||||||
Restricted stock | 1,906 | 1,906 | - | 1,906 | - | ||||||||||
Loans held for sale | 349 | 349 | - | 349 | - | ||||||||||
Net loans | 713,711 | 722,119 | - | - | 722,119 | ||||||||||
Accrued interest receivable | 3,087 | 3,087 | - | 3,087 | - | ||||||||||
Mortgage servicing rights | 184 | 184 | - | - | 184 | ||||||||||
Financial liabilities: | |||||||||||||||
Deposits | $ | 845,724 | $ | 846,289 | $ | - | $ | 846,289 | $ | - | |||||
Securities sold under agreements to repurchase | 23,834 | 23,834 | - | 23,834 | - | ||||||||||
Long-term debt | 12,403 | 12,999 | - | 12,999 | - | ||||||||||
Accrued interest payable | 229 | 229 | - | 229 | - | ||||||||||
Interest rate swaps | 561 | 561 | - | 561 | - | ||||||||||
Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis | ' | ||||||||||||||
(Dollars in Thousands) | Fair Value at June 30, 2014 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Equity securities | $ | 394 | $ | - | $ | - | $ | 394 | |||||||
Obligations of U.S. Government agencies | - | 15,395 | - | 15,395 | |||||||||||
Obligations of state and political subdivisions | - | 65,050 | - | 65,050 | |||||||||||
Corporate debt securities | - | 1,000 | - | 1,000 | |||||||||||
Trust Preferred Securities | - | 5,306 | - | 5,306 | |||||||||||
Agency mortgage-backed securities | - | 86,352 | - | 86,352 | |||||||||||
Private-label mortgage-backed securities | - | 1,876 | - | 1,876 | |||||||||||
Asset-backed securities | - | 46 | - | 46 | |||||||||||
Total assets | $ | 394 | $ | 175,025 | $ | - | $ | 175,419 | |||||||
Liability Description | |||||||||||||||
Interest rate swaps | $ | - | $ | 384 | $ | - | $ | 384 | |||||||
Total liabilities | $ | - | $ | 384 | $ | - | $ | 384 | |||||||
(Dollars in Thousands) | Fair Value at December 31, 2013 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Equity securities | $ | 1,970 | $ | - | $ | - | $ | 1,970 | |||||||
Obligations of U.S. Government agencies | - | 11,751 | - | 11,751 | |||||||||||
Obligations of state and political subdivisions | - | 56,857 | - | 56,857 | |||||||||||
Corporate debt securities | - | 1,001 | - | 1,001 | |||||||||||
Trust Preferred Securities | - | 5,051 | - | 5,051 | |||||||||||
Agency mortgage-backed securities | - | 81,027 | - | 81,027 | |||||||||||
Private-label mortgage-backed securities | - | 1,969 | - | 1,969 | |||||||||||
Asset-backed securities | - | 48 | - | 48 | |||||||||||
Total assets | $ | 1,970 | $ | 157,704 | $ | - | $ | 159,674 | |||||||
Liability Description | |||||||||||||||
Interest rate swaps | $ | - | $ | 561 | $ | - | $ | 561 | |||||||
Total liabilities | $ | - | $ | 561 | $ | - | $ | 561 | |||||||
Fair Value Measurements, Nonrecurring | ' | ||||||||||||||
(Dollars in Thousands) | |||||||||||||||
Fair Value at June 30, 2014 | |||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Impaired loans (1) | $ | - | $ | - | $ | 2,730 | $ | 2,730 | |||||||
Other real estate owned (1) | - | - | 831 | 831 | |||||||||||
Mortgage servicing rights | - | - | 176 | 176 | |||||||||||
Total assets | $ | - | $ | - | $ | 3,737 | $ | 3,737 | |||||||
(Dollars in Thousands) | Fair Value at December 31, 2013 | ||||||||||||||
Asset Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||
Impaired loans (1) | $ | - | $ | - | $ | 8,588 | $ | 8,588 | |||||||
Other real estate owned (1) | - | - | 498 | 498 | |||||||||||
Mortgage servicing rights | - | - | 184 | 184 | |||||||||||
Total assets | $ | - | $ | - | $ | 9,270 | $ | 9,270 | |||||||
-1 | Includes assets directly charged-down to fair value during the year-to-date period. | ||||||||||||||
Fair Value Inputs, Assets, Quantitative Information | ' | ||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||
(Dollars in Thousands) | at June 30, 2014 | ||||||||||||||
Range | |||||||||||||||
Asset Description | Fair Value | Valuation Technique | Unobservable Input | (Weighted Average) | |||||||||||
Impaired loans (1) | $ | 2,730 | Appraisal | Appraisal Adjustments (2) | 0% - 100% (30.44%) | ||||||||||
Cost to sell | 0% - 10% (4.70%) | ||||||||||||||
Other real estate owned (1) | 831 | Appraisal | Appraisal Adjustments (2) | ||||||||||||
Cost to sell | 8% (8%) | ||||||||||||||
Mortgage servicing rights | 176 | Discounted Cash Flow (3) | |||||||||||||
at December 31, 2013 | |||||||||||||||
Impaired loans (1) | $ | 8,588 | Appraisal | Appraisal Adjustments (2) | 0% - 60% (5%) | ||||||||||
Cost to sell | 5% - 13.5% (7%) | ||||||||||||||
Other real estate owned (1) | 498 | Appraisal | Appraisal Adjustments (2) | ||||||||||||
Cost to sell | 8% (8%) | ||||||||||||||
Mortgage servicing rights | 184 | Discounted Cash Flow (3) | |||||||||||||
(1) Includes assets directly charged-down to fair value during the year-to-date period. | |||||||||||||||
(2) Qualitative adjustments are discounts specific to each asset and are made as needed. | |||||||||||||||
(3) Valuation and inputs are determined by a third-party pricing service without adjustment. | |||||||||||||||
Financial_Derivatives_Tables
Financial Derivatives (Tables) | 6 Months Ended | |||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||
Financial Derivatives [Abstract] | ' | |||||||||||||||||
Schedule Of Interest Rate Swap | ' | |||||||||||||||||
(Dollars in thousands) | Amount Expected to | |||||||||||||||||
be Expensed into | ||||||||||||||||||
Notional | Maturity | Interest Rate | Earnings within the | |||||||||||||||
Amount | Date | Fixed | Variable | next 12 Months | ||||||||||||||
$ | 10,000 | 5/30/15 | 3.87% | 0.04% | $ | 351 | ||||||||||||
Schedule Of Fair Value Of Derivative Instruments | ' | |||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||
(Dollars in thousands) | Balance Sheet | |||||||||||||||||
Date | Type | Location | Fair Value | |||||||||||||||
30-Jun-14 | Interest rate contracts | Other liabilities | $ | 384 | ||||||||||||||
31-Dec-13 | Interest rate contracts | Other liabilities | $ | 561 | ||||||||||||||
Schedule Of Effect Of Derivative Instruments On The Statement Of Income | ' | |||||||||||||||||
Derivatives in ASC Topic 815 Cash Flow Hedging Relationships | ||||||||||||||||||
(Dollars in thousands) | Amount of Gain | |||||||||||||||||
Location of | or (Loss) | |||||||||||||||||
Gain or (Loss) | Recognized in | |||||||||||||||||
Recognized in | Income on | |||||||||||||||||
Location of | Amount of Gain | Income on | Derivatives | |||||||||||||||
Amount of Gain | Gain or (Loss) | or (Loss) | Derivative (Ineffective | (Ineffective Portion | ||||||||||||||
or (Loss) | Reclassified from | Reclassified from | Portion and Amount | and Amount | ||||||||||||||
Recognized in OCI | Accumulated OCI | Accumulated OCI | Excluded from | Excluded from | ||||||||||||||
net of tax on Derivative | into Income | into Income | Effectiveness | Effectiveness | ||||||||||||||
Date / Type | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Testing) | |||||||||||||
Interest rate contracts | ||||||||||||||||||
Three months ended: | ||||||||||||||||||
30-Jun-14 | $ | 60 | Interest Expense | $ | -94 | Other income (expense) | $ | - | ||||||||||
30-Jun-13 | $ | 128 | Interest Expense | $ | -152 | Other income (expense) | $ | - | ||||||||||
Six months ended: | ||||||||||||||||||
30-Jun-14 | $ | 117 | Interest Expense | $ | -189 | Other income (expense) | $ | - | ||||||||||
30-Jun-13 | $ | 248 | Interest Expense | $ | -332 | Other income (expense) | $ | - | ||||||||||
Schedule Of Derivative Instruments Subject To Master Netting Arrangement Or Repurchase Agreement | ' | |||||||||||||||||
Net Amounts | Gross Amounts Not Offset in the | |||||||||||||||||
Gross | Gross Amounts | of Liabilities | Statements of Condition | |||||||||||||||
Amounts of | Offset in the | Presented in the | ||||||||||||||||
Recognized | Statements of | Statements of | Financial | Cash Collateral | Net | |||||||||||||
(Dollars in thousands) | Liabilities | Condition | Condition | Instruments | Pledged | Amount | ||||||||||||
Interest Rate Swap Agreements | ||||||||||||||||||
30-Jun-14 | $ | 384 | $ | - | $ | 384 | $ | 384 | $ | - | $ | - | ||||||
31-Dec-13 | $ | 561 | $ | - | $ | 561 | $ | 561 | $ | - | $ | - | ||||||
Basis_Of_Presentation_Details
Basis Of Presentation (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Basis Of Presentation [Abstract] | ' | ' | ' | ' |
Weighted average shares outstanding (basic) | 4,184 | 4,126 | 4,178 | 4,119 |
Impact of common stock equivalents | 7 | 7 | 6 | 7 |
Weighted average shares outstanding (diluted) | 4,191 | 4,133 | 4,184 | 4,126 |
Anti-dilutive options excluded from calculation | 34 | 46 | 37 | 57 |
Net income | $2,319 | $1,355 | $4,145 | $2,906 |
Basic earnings per share | $0.55 | $0.33 | $0.99 | $0.71 |
Diluted earnings per share | $0.55 | $0.33 | $0.99 | $0.70 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accumulated Other Comprehensive Loss [Abstract] | ' | ' |
Net unrealized gains (losses) on securities | $1,232 | ($741) |
Tax effect | -419 | 252 |
Net of tax amount | 813 | -489 |
Net unrealized losses on derivatives | -384 | -561 |
Tax effect | 131 | 191 |
Net of tax amount | -253 | -370 |
Accumulated pension adjustment | -5,814 | -5,814 |
Tax effect | 1,977 | 1,977 |
Net of tax amount | -3,837 | -3,837 |
Total accumulated other comprehensive loss | ($3,277) | ($4,696) |
Guarantees_Details
Guarantees (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Guarantees [Abstract] | ' | ' |
Standby Letters of Credit Outstanding | $22.50 | $20.20 |
Letters of credit, Expiration period | '1 year | ' |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
security | security | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $50,000 | ' | $50,000 | ' |
Proceeds from sales and calls of investment securities available for sale | ' | 1,582,000 | 5,147,000 | ' |
Securities pledged as collateral | ' | 83,900,000 | ' | 107,600,000 |
Number of temporarily impaired securities | ' | 99 | ' | 98 |
Fair value of temporarily impaired securities | ' | 75,770,000 | ' | 77,349,000 |
Unrealized Losses | ' | 1,863,000 | ' | 3,476,000 |
Change in unrealized losses | ' | 1,600,000 | ' | ' |
Restricted stock | ' | 1,938,000 | ' | 1,906,000 |
Federal Home Loan Bank of Pittsburgh [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Restricted stock | ' | 30,000 | ' | ' |
FHLB [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Restricted Stock Cost | ' | $100 | ' | ' |
Municipal Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Number of temporarily impaired securities | ' | 35 | ' | 28 |
Fair value of temporarily impaired securities | ' | 25,121,000 | ' | 19,930,000 |
Unrealized Losses | ' | 730,000 | ' | 1,404,000 |
Change in unrealized losses | ' | 674,000 | ' | ' |
Trust Preferred Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Number of temporarily impaired securities | ' | 7 | ' | 7 |
Fair value of temporarily impaired securities | ' | 5,306,000 | ' | 5,051,000 |
Unrealized Losses | ' | 625,000 | ' | 871,000 |
Investment Maturity Year Range Start | ' | '2027 | ' | ' |
Investment Maturity Year Range End | ' | '2028 | ' | ' |
Private-Label Mortgage-Backed Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Cumulative OTTI Charges | ' | 515,000 | ' | ' |
Number of temporarily impaired securities | ' | 2 | ' | 2 |
Fair value of temporarily impaired securities | ' | 879,000 | ' | 911,000 |
Unrealized Losses | ' | $14,000 | ' | $31,000 |
Period of determining credit related loss, in days | ' | '60 days | ' | ' |
Investments_Unrealized_Gain_lo
Investments (Unrealized Gain (loss) On Investments) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $174,187 | $160,415 |
Gross Unrealized Gains | 3,095 | 2,735 |
Gross Unrealized Losses | -1,863 | -3,476 |
Fair Value | 175,419 | 159,674 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 110 | 1,472 |
Gross Unrealized Gains | 284 | 499 |
Gross Unrealized Losses | ' | -1 |
Fair Value | 394 | 1,970 |
U.S. Government Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 15,376 | 11,771 |
Gross Unrealized Gains | 99 | 94 |
Gross Unrealized Losses | -80 | -114 |
Fair Value | 15,395 | 11,751 |
Municipal Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 64,018 | 56,861 |
Gross Unrealized Gains | 1,762 | 1,400 |
Gross Unrealized Losses | -730 | -1,404 |
Fair Value | 65,050 | 56,857 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,000 | 1,002 |
Gross Unrealized Losses | ' | -1 |
Fair Value | 1,000 | 1,001 |
Trust Preferred Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 5,931 | 5,922 |
Gross Unrealized Losses | -625 | -871 |
Fair Value | 5,306 | 5,051 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 85,859 | 81,352 |
Gross Unrealized Gains | 905 | 726 |
Gross Unrealized Losses | -412 | -1,051 |
Fair Value | 86,352 | 81,027 |
Private-Label Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,845 | 1,984 |
Gross Unrealized Gains | 45 | 16 |
Gross Unrealized Losses | -14 | -31 |
Fair Value | 1,876 | 1,969 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 48 | 51 |
Gross Unrealized Losses | -2 | -3 |
Fair Value | $46 | $48 |
Investments_Amortized_Cost_And
Investments (Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Investments [Abstract] | ' |
Due in one year or less, Amortized cost | $2,741 |
Due after one year through five years, Amortized cost | 11,474 |
Due after five years through ten years, Amortized cost | 27,749 |
Due after ten years, Amortized cost | 44,409 |
Amortized Cost Contractual Maturities Subtotal | 86,373 |
Mortgage-backed securities, Amortized cost | 87,704 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 174,077 |
Due in one year or less, Fair value | 2,780 |
Due after one year through five years, Fair value | 11,911 |
Due after five years through ten years, Fair value | 28,064 |
Due after ten years, Fair value | 44,042 |
Fair Value Contractual Maturities Subtotal | 86,797 |
Mortgage-backed securities, Fair value | 88,228 |
Available-for-sale Securities, Debt Securities, Fair Value | $175,025 |
Investments_Schedule_Of_Trust_
Investments (Schedule Of Trust Preferred Securities) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BBB Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BBB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BBB+ Rating [Member] | ||
Trust Preferred Securities: Huntington Cap Trust [Member] | Trust Preferred Securities: Huntington Cap Trust II [Member] | Trust Preferred Securities: BankAmerica Cap III [Member] | Trust Preferred Securities: Fleet Cap Tr V [Member] | Trust Preferred Securities: Chase Cap VI JPM [Member] | Trust Preferred Securities: Wachovia Cap Trust II [Member] | Trust Preferred Securities: Corestates Captl Tr II [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Single Issuer or Polled | ' | ' | ' | ' | 'Single | 'Single | 'Single | 'Single | 'Single | 'Single | 'Single |
Class | ' | ' | ' | ' | 'Preferred Stock | 'Preferred Stock | 'Preferred Stock | 'Preferred Stock | 'Preferred Stock | 'Preferred Stock | 'Preferred Stock |
Amortized Cost | $174,187 | $160,415 | $5,931 | $5,922 | $937 | $887 | $962 | $974 | $961 | $276 | $934 |
Investment securities available for sale, at fair value | 175,419 | 159,674 | 5,306 | 5,051 | 844 | 821 | 836 | 812 | 865 | 257 | 871 |
Gross Unrealized Gain (Loss) | ' | ' | ($625) | ' | ($93) | ($66) | ($126) | ($162) | ($96) | ($19) | ($63) |
Lowest Credit Rating Assigned | ' | ' | ' | ' | 'BB+ | 'BB+ | 'BB+ | 'BB+ | 'BBB | 'BBB+ | 'BBB+ |
Number of Banks Currently Performing | ' | ' | ' | ' | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Deferrals and Defaults as % of Original Collateral | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Expected Deferral/Defaults as a Percentage of Remaining Performing Collateral | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Investments_Private_Label_Mort
Investments (Private Label Mortgage Backed Securities) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Private-Label Mortgage-Backed Securities [Member] | Private-Label Mortgage-Backed Securities [Member] | Lowest Credit Rating Assigned: Standard & Poor's, BBB+ Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, CCC Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, CC Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | ||
RALI2004-QS4 A7 [Member] | MALT2004-6 7A1 [Member] | RALI2005-QS2 A1 [Member] | RALI2006-QS4 A2 [Member] | GSR 2006-5F 2A1 [Member] | RALI2006-QS8 A1 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Origination Date | ' | ' | ' | ' | 1-Mar-04 | 1-Jun-04 | 1-Feb-05 | 1-Apr-06 | 1-May-06 | 28-Jul-06 |
Amortized Cost | $174,187 | $160,415 | $1,845 | $1,984 | $129 | $424 | $308 | $575 | $91 | $318 |
Investment securities available for sale, at fair value | 175,419 | 159,674 | 1,876 | 1,969 | 134 | 444 | 321 | 567 | 98 | 312 |
Gross Unrealized Gain (Loss) | ' | ' | 31 | ' | 5 | 20 | 13 | -8 | 7 | -6 |
Collateral Type | ' | ' | ' | ' | 'ALT A | 'ALT A | 'ALT A | 'ALT A | 'Prime | 'ALT A |
Lowest Credit Rating Assigned to Private Label Mortgage Backed Securities | ' | ' | ' | ' | 'BBB+ | 'CCC | 'CC | 'D | 'D | 'D |
Credit Support % | ' | ' | ' | ' | 12.53% | 14.38% | 5.78% | ' | ' | ' |
Cumulative OTTI Charges | ' | ' | $515 | ' | ' | ' | $10 | $293 | $15 | $197 |
Investments_Schedule_Of_Unreal
Investments (Schedule Of Unrealized Loss On Investments) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | security | security |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair Value | $32,529 | $61,158 |
Less than 12 months: Unrealized Losses | -239 | -2,107 |
Less than 12 months: Count | 38 | 70 |
12 months or more: Fair Value | 43,241 | 16,191 |
12 months or more: Unrealized Losses | -1,624 | -1,369 |
12 months or more: Count | 61 | 28 |
Fair Value | 75,770 | 77,349 |
Unrealized Losses | -1,863 | -3,476 |
Count | 99 | 98 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair Value | ' | 22 |
Less than 12 months: Unrealized Losses | ' | -1 |
Less than 12 months: Count | ' | 1 |
Fair Value | ' | 22 |
Unrealized Losses | ' | -1 |
Count | ' | 1 |
U.S. Government Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair Value | 2,078 | 3,971 |
Less than 12 months: Unrealized Losses | -2 | -85 |
Less than 12 months: Count | 3 | 7 |
12 months or more: Fair Value | 7,509 | 3,807 |
12 months or more: Unrealized Losses | -78 | -29 |
12 months or more: Count | 13 | 7 |
Fair Value | 9,587 | 7,778 |
Unrealized Losses | -80 | -114 |
Count | 16 | 14 |
Municipal Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair Value | 10,051 | 16,770 |
Less than 12 months: Unrealized Losses | -111 | -1,022 |
Less than 12 months: Count | 14 | 24 |
12 months or more: Fair Value | 15,070 | 3,160 |
12 months or more: Unrealized Losses | -619 | -382 |
12 months or more: Count | 21 | 4 |
Fair Value | 25,121 | 19,930 |
Unrealized Losses | -730 | -1,404 |
Count | 35 | 28 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 months or more: Fair Value | ' | 1,001 |
12 months or more: Unrealized Losses | ' | -1 |
12 months or more: Count | ' | 1 |
Fair Value | ' | 1,001 |
Unrealized Losses | ' | -1 |
Count | ' | 1 |
Trust Preferred Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 months or more: Fair Value | 5,306 | 5,051 |
12 months or more: Unrealized Losses | -625 | -871 |
12 months or more: Count | 7 | 7 |
Fair Value | 5,306 | 5,051 |
Unrealized Losses | -625 | -871 |
Count | 7 | 7 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair Value | 20,400 | 40,395 |
Less than 12 months: Unrealized Losses | -126 | -999 |
Less than 12 months: Count | 21 | 38 |
12 months or more: Fair Value | 14,472 | 2,213 |
12 months or more: Unrealized Losses | -286 | -52 |
12 months or more: Count | 17 | 4 |
Fair Value | 34,872 | 42,608 |
Unrealized Losses | -412 | -1,051 |
Count | 38 | 42 |
Private-Label Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 months or more: Fair Value | 879 | 911 |
12 months or more: Unrealized Losses | -14 | -31 |
12 months or more: Count | 2 | 2 |
Fair Value | 879 | 911 |
Unrealized Losses | -14 | -31 |
Count | 2 | 2 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 months or more: Fair Value | 5 | 48 |
12 months or more: Unrealized Losses | -2 | -3 |
12 months or more: Count | 1 | 3 |
Fair Value | 5 | 48 |
Unrealized Losses | ($2) | ($3) |
Count | 1 | 3 |
Loans_Details
Loans (Details) (USD $) | 6 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | $732,719 | ' | $723,413 | ' | ' | ' |
Allowance for loan losses | -9,519 | -9,745 | -9,702 | -11,438 | -10,943 | -10,379 |
Net Loans | 723,200 | ' | 713,711 | ' | ' | ' |
Change Amount | 9,306 | ' | ' | ' | ' | ' |
Change % | 1.30% | ' | ' | ' | ' | ' |
Allowance for loan losses, Change Amount | 183 | ' | ' | ' | ' | ' |
Allowance for loan losses, Change % | 1.90% | ' | ' | ' | ' | ' |
Net Loans, Change Amount | 9,489 | ' | ' | ' | ' | ' |
Net Loans, Change % | 1.30% | ' | ' | ' | ' | ' |
Net unamortized deferred loan costs included in the loan balances | 472 | ' | 372 | ' | ' | ' |
Unamortized deferred loan costs included in the loan balances | -49 | ' | -92 | ' | ' | ' |
Loans pledged as collateral for borrowings and commitments from: FHLB | 594,772 | ' | 607,524 | ' | ' | ' |
Loans pledged as collateral for borrowings and commitments from :Federal Reserve Bank | 57,689 | ' | 45,809 | ' | ' | ' |
Total loans pledged as collateral | 652,461 | ' | 653,333 | ' | ' | ' |
Residential Real Estate 1-4 Family Consumer First Liens [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 102,849 | ' | 103,573 | ' | ' | ' |
Change Amount | -724 | ' | ' | ' | ' | ' |
Change % | -0.70% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family Consumer Junior Liens And Lines Of Credit [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 35,131 | ' | 34,636 | ' | ' | ' |
Change Amount | 495 | ' | ' | ' | ' | ' |
Change % | 1.40% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family Consumer [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 137,980 | ' | 138,209 | ' | ' | ' |
Change Amount | -229 | ' | ' | ' | ' | ' |
Change % | -0.20% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family Commercial first lien [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 58,639 | ' | 58,466 | ' | ' | ' |
Change Amount | 173 | ' | ' | ' | ' | ' |
Change % | 0.30% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family Commercial junior liens and lines of credit [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 4,940 | ' | 5,939 | ' | ' | ' |
Change Amount | -999 | ' | ' | ' | ' | ' |
Change % | -16.80% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family Commercial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 63,579 | ' | 64,405 | ' | ' | ' |
Change Amount | -826 | ' | ' | ' | ' | ' |
Change % | -1.30% | ' | ' | ' | ' | ' |
Residential Real Estate 1-4 Family [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 201,559 | ' | 202,614 | ' | ' | ' |
Change Amount | -1,055 | ' | ' | ' | ' | ' |
Change % | -0.50% | ' | ' | ' | ' | ' |
Residential Real Estate- Construction Consumer [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 2,414 | ' | 3,960 | ' | ' | ' |
Change Amount | -1,546 | ' | ' | ' | ' | ' |
Change % | -39.00% | ' | ' | ' | ' | ' |
Residential Real Estate- Construction Commercial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 8,868 | ' | 8,559 | ' | ' | ' |
Change Amount | 309 | ' | ' | ' | ' | ' |
Change % | 3.60% | ' | ' | ' | ' | ' |
Residential Real Estate - Construction [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 11,282 | ' | 12,519 | ' | ' | ' |
Allowance for loan losses | -261 | -374 | -291 | -701 | -837 | -899 |
Change Amount | -1,237 | ' | ' | ' | ' | ' |
Change % | -9.90% | ' | ' | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 322,465 | ' | 329,373 | ' | ' | ' |
Allowance for loan losses | -5,412 | -5,509 | -5,571 | -6,730 | -6,682 | -6,450 |
Change Amount | -6,908 | ' | ' | ' | ' | ' |
Change % | -2.10% | ' | ' | ' | ' | ' |
Commercial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 190,130 | ' | 170,327 | ' | ' | ' |
Allowance for loan losses | -2,366 | -2,309 | -2,306 | -2,202 | -1,972 | -1,620 |
Change Amount | 19,803 | ' | ' | ' | ' | ' |
Change % | 11.60% | ' | ' | ' | ' | ' |
Total Commercial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 512,595 | ' | 499,700 | ' | ' | ' |
Change Amount | 12,895 | ' | ' | ' | ' | ' |
Change % | 2.60% | ' | ' | ' | ' | ' |
Consumer [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 7,283 | ' | 8,580 | ' | ' | ' |
Allowance for loan losses | -135 | -144 | -148 | -162 | -183 | -191 |
Change Amount | ($1,297) | ' | ' | ' | ' | ' |
Change % | -15.10% | ' | ' | ' | ' | ' |
Loan_Quality_Allowance_For_Loa
Loan Quality (Allowance For Loan Losses, By Loan Segment) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | $9,745 | $10,943 | $9,702 | $10,379 | ' |
Charge-offs | -523 | -396 | -724 | -662 | ' |
Recoveries | 31 | 88 | 77 | 116 | ' |
Provision | 266 | 803 | 464 | 1,605 | ' |
Allowance, Ending Balance | 9,519 | 11,438 | 9,519 | 11,438 | ' |
Loans evaluated for allowance individually | 25,868 | ' | 25,868 | ' | 30,044 |
Loans evaluated for allowance collectively | 706,851 | ' | 706,851 | ' | 693,369 |
Total Loans | 732,719 | ' | 732,719 | ' | 723,413 |
Allowance established for loans evaluated individually | 1,025 | ' | 1,025 | ' | 1,100 |
Allowance established for loan evaluated collectively | 8,494 | ' | 8,494 | ' | 8,602 |
Total Allowance | 9,519 | 11,438 | 9,519 | 11,438 | ' |
Residential Real Estate First Liens [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 1,133 | 973 | 1,108 | 913 | ' |
Charge-offs | -241 | -39 | -257 | -39 | ' |
Recoveries | ' | 1 | 3 | 9 | ' |
Provision | 187 | 430 | 225 | 482 | ' |
Allowance, Ending Balance | 1,079 | 1,365 | 1,079 | 1,365 | ' |
Loans evaluated for allowance individually | 1,158 | ' | 1,158 | ' | 2,354 |
Loans evaluated for allowance collectively | 160,330 | ' | 160,330 | ' | 159,685 |
Total Loans | 161,488 | ' | 161,488 | ' | 162,039 |
Allowance established for loans evaluated individually | ' | ' | ' | ' | 9 |
Allowance established for loan evaluated collectively | 1,079 | ' | 1,079 | ' | 1,099 |
Total Allowance | 1,079 | 1,365 | 1,079 | 1,365 | ' |
Residential Real Estate Junior Liens & Lines of Credit [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 276 | 296 | 278 | 306 | ' |
Charge-offs | ' | ' | ' | -45 | ' |
Provision | -10 | -18 | -12 | 17 | ' |
Allowance, Ending Balance | 266 | 278 | 266 | 278 | ' |
Loans evaluated for allowance individually | 51 | ' | 51 | ' | 50 |
Loans evaluated for allowance collectively | 40,020 | ' | 40,020 | ' | 40,525 |
Total Loans | 40,071 | ' | 40,071 | ' | 40,575 |
Allowance established for loan evaluated collectively | 266 | ' | 266 | ' | 278 |
Total Allowance | 266 | 278 | 266 | 278 | ' |
Residential Real Estate - Construction [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 374 | 837 | 291 | 899 | ' |
Charge-offs | ' | ' | -27 | ' | ' |
Provision | -113 | -136 | -3 | -198 | ' |
Allowance, Ending Balance | 261 | 701 | 261 | 701 | ' |
Loans evaluated for allowance individually | 525 | ' | 525 | ' | 537 |
Loans evaluated for allowance collectively | 10,757 | ' | 10,757 | ' | 11,982 |
Total Loans | 11,282 | ' | 11,282 | ' | 12,519 |
Allowance established for loan evaluated collectively | 261 | ' | 261 | ' | 291 |
Total Allowance | 261 | 701 | 261 | 701 | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 5,509 | 6,682 | 5,571 | 6,450 | ' |
Charge-offs | -234 | ' | -348 | -167 | ' |
Recoveries | ' | 3 | ' | 3 | ' |
Provision | 137 | 45 | 189 | 444 | ' |
Allowance, Ending Balance | 5,412 | 6,730 | 5,412 | 6,730 | ' |
Loans evaluated for allowance individually | 22,210 | ' | 22,210 | ' | 25,107 |
Loans evaluated for allowance collectively | 300,255 | ' | 300,255 | ' | 304,266 |
Total Loans | 322,465 | ' | 322,465 | ' | 329,373 |
Allowance established for loans evaluated individually | 68 | ' | 68 | ' | 89 |
Allowance established for loan evaluated collectively | 5,344 | ' | 5,344 | ' | 5,482 |
Total Allowance | 5,412 | 6,730 | 5,412 | 6,730 | ' |
Commercial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 2,309 | 1,972 | 2,306 | 1,620 | ' |
Charge-offs | -11 | -317 | -12 | -327 | ' |
Recoveries | 13 | 68 | 33 | 75 | ' |
Provision | 55 | 479 | 39 | 834 | ' |
Allowance, Ending Balance | 2,366 | 2,202 | 2,366 | 2,202 | ' |
Loans evaluated for allowance individually | 1,924 | ' | 1,924 | ' | 1,996 |
Loans evaluated for allowance collectively | 188,206 | ' | 188,206 | ' | 168,331 |
Total Loans | 190,130 | ' | 190,130 | ' | 170,327 |
Allowance established for loans evaluated individually | 957 | ' | 957 | ' | 1,002 |
Allowance established for loan evaluated collectively | 1,409 | ' | 1,409 | ' | 1,304 |
Total Allowance | 2,366 | 2,202 | 2,366 | 2,202 | ' |
Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance, Beginning Balance | 144 | 183 | 148 | 191 | ' |
Charge-offs | -37 | -40 | -80 | -84 | ' |
Recoveries | 18 | 16 | 41 | 29 | ' |
Provision | 10 | 3 | 26 | 26 | ' |
Allowance, Ending Balance | 135 | 162 | 135 | 162 | ' |
Loans evaluated for allowance collectively | 7,283 | ' | 7,283 | ' | 8,580 |
Total Loans | 7,283 | ' | 7,283 | ' | 8,580 |
Allowance established for loan evaluated collectively | 135 | ' | 135 | ' | 148 |
Total Allowance | $135 | $162 | $135 | $162 | ' |
Loan_Quality_Impaired_Financin
Loan Quality (Impaired Financing Receivables) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | $24,393 | ' | $24,393 | ' | $27,951 |
Unpaid Principal Balance With No Allowance | 30,541 | ' | 30,541 | ' | 34,606 |
Recorded Investment With Allowance | 2,814 | ' | 2,814 | ' | 2,945 |
Unpaid Principal Balance With Allowance | 3,041 | ' | 3,041 | ' | 3,125 |
Related Allowance | 1,025 | ' | 1,025 | ' | 1,100 |
Average Recorded Investment | 27,391 | 36,827 | 29,512 | 34,134 | ' |
Interest Income Recognized | 96 | 104 | 200 | 81 | ' |
Residential Real Estate First Liens [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 2,271 | ' | 2,271 | ' | 3,030 |
Unpaid Principal Balance With No Allowance | 2,348 | ' | 2,348 | ' | 3,500 |
Recorded Investment With Allowance | ' | ' | ' | ' | 9 |
Unpaid Principal Balance With Allowance | ' | ' | ' | ' | 39 |
Related Allowance | ' | ' | ' | ' | 9 |
Average Recorded Investment | 2,289 | 3,439 | 2,753 | 4,283 | ' |
Interest Income Recognized | 15 | 4 | 25 | 8 | ' |
Residential Real Estate Junior Liens & Lines of Credit [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 120 | ' | 120 | ' | 108 |
Unpaid Principal Balance With No Allowance | 145 | ' | 145 | ' | 127 |
Average Recorded Investment | 120 | 679 | 123 | 722 | ' |
Interest Income Recognized | ' | 4 | ' | 1 | ' |
Residential Real Estate 1-4 Family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 2,391 | ' | 2,391 | ' | 3,138 |
Unpaid Principal Balance With No Allowance | 2,493 | ' | 2,493 | ' | 3,627 |
Recorded Investment With Allowance | ' | ' | ' | ' | 9 |
Unpaid Principal Balance With Allowance | ' | ' | ' | ' | 39 |
Related Allowance | ' | ' | ' | ' | 9 |
Average Recorded Investment | 2,409 | 4,118 | 2,876 | 5,005 | ' |
Interest Income Recognized | 15 | 8 | 25 | 9 | ' |
Residential Real Estate - Construction [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 525 | ' | 525 | ' | 537 |
Unpaid Principal Balance With No Allowance | 553 | ' | 553 | ' | 556 |
Average Recorded Investment | 527 | 550 | 530 | 692 | ' |
Interest Income Recognized | ' | ' | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 21,338 | ' | 21,338 | ' | 24,188 |
Unpaid Principal Balance With No Allowance | 27,103 | ' | 27,103 | ' | 30,334 |
Recorded Investment With Allowance | 916 | ' | 916 | ' | 966 |
Unpaid Principal Balance With Allowance | 1,022 | ' | 1,022 | ' | 1,043 |
Related Allowance | 68 | ' | 68 | ' | 89 |
Average Recorded Investment | 22,399 | 29,705 | 24,032 | 24,218 | ' |
Interest Income Recognized | 81 | 96 | 174 | 36 | ' |
Commercial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment With No Allowance | 139 | ' | 139 | ' | 88 |
Unpaid Principal Balance With No Allowance | 392 | ' | 392 | ' | 89 |
Recorded Investment With Allowance | 1,898 | ' | 1,898 | ' | 1,970 |
Unpaid Principal Balance With Allowance | 2,019 | ' | 2,019 | ' | 2,043 |
Related Allowance | 957 | ' | 957 | ' | 1,002 |
Average Recorded Investment | 2,056 | 2,454 | 2,074 | 4,219 | ' |
Interest Income Recognized | ' | ' | $1 | $36 | ' |
Loan_Quality_Aging_Of_Payments
Loan Quality (Aging Of Payments Of The Loan Portfolio) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | $707,312 | $694,286 |
30-59 Days | 1,282 | 3,281 |
60-89 Days | 3,076 | 599 |
90+ Days | 411 | 604 |
Total | 4,769 | 4,484 |
Non-accrual loans | 20,638 | 24,643 |
Total Loans | 732,719 | 723,413 |
Residential Real Estate First Liens [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 159,292 | 156,916 |
30-59 Days | 316 | 1,725 |
60-89 Days | 213 | 497 |
90+ Days | 392 | 302 |
Total | 921 | 2,524 |
Non-accrual loans | 1,275 | 2,599 |
Total Loans | 161,488 | 162,039 |
Residential Real Estate Junior Liens & Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 39,811 | 40,204 |
30-59 Days | 111 | 204 |
60-89 Days | 28 | 19 |
90+ Days | 11 | 41 |
Total | 150 | 264 |
Non-accrual loans | 110 | 107 |
Total Loans | 40,071 | 40,575 |
Residential Real Estate 1-4 Family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 199,103 | 197,120 |
30-59 Days | 427 | 1,929 |
60-89 Days | 241 | 516 |
90+ Days | 403 | 343 |
Total | 1,071 | 2,788 |
Non-accrual loans | 1,385 | 2,706 |
Total Loans | 201,559 | 202,614 |
Residential Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 10,138 | 11,458 |
30-59 Days | ' | 523 |
60-89 Days | 619 | ' |
Total | 619 | 523 |
Non-accrual loans | 525 | 538 |
Total Loans | 11,282 | 12,519 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 303,567 | 309,531 |
30-59 Days | 546 | 634 |
60-89 Days | 2,167 | ' |
90+ Days | ' | 207 |
Total | 2,713 | 841 |
Non-accrual loans | 16,185 | 19,001 |
Total Loans | 322,465 | 329,373 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 187,344 | 167,747 |
30-59 Days | 225 | 78 |
60-89 Days | 18 | 60 |
90+ Days | ' | 44 |
Total | 243 | 182 |
Non-accrual loans | 2,543 | 2,398 |
Total Loans | 190,130 | 170,327 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 7,160 | 8,430 |
30-59 Days | 84 | 117 |
60-89 Days | 31 | 23 |
90+ Days | 8 | 10 |
Total | 123 | 150 |
Total Loans | $7,283 | $8,580 |
Loan_Quality_Internal_Credit_R
Loan Quality (Internal Credit Rating For The Loan Portfolio) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $732,719 | $723,413 |
Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 667,632 | 647,134 |
Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 18,528 | 18,973 |
Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 46,559 | 57,306 |
Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Residential Real Estate First Liens [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 161,488 | 162,039 |
Residential Real Estate First Liens [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 153,596 | 150,762 |
Residential Real Estate First Liens [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,880 | 3,653 |
Residential Real Estate First Liens [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 5,012 | 7,624 |
Residential Real Estate First Liens [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Residential Real Estate Junior Liens & Lines of Credit [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 40,071 | 40,575 |
Residential Real Estate Junior Liens & Lines of Credit [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 39,708 | 40,102 |
Residential Real Estate Junior Liens & Lines of Credit [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | 66 |
Residential Real Estate Junior Liens & Lines of Credit [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 363 | 407 |
Residential Real Estate Junior Liens & Lines of Credit [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Residential Real Estate 1-4 Family [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 201,559 | 202,614 |
Residential Real Estate 1-4 Family [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 193,304 | 190,864 |
Residential Real Estate 1-4 Family [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,880 | 3,719 |
Residential Real Estate 1-4 Family [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 5,375 | 8,031 |
Residential Real Estate 1-4 Family [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Residential Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 11,282 | 12,519 |
Residential Real Estate - Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 10,128 | 10,955 |
Residential Real Estate - Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,154 | 1,564 |
Residential Real Estate - Construction [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 322,465 | 329,373 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 285,623 | 281,857 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 6,514 | 11,861 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 30,328 | 35,655 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Commercial [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 190,130 | 170,327 |
Commercial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 171,302 | 154,888 |
Commercial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 9,134 | 3,393 |
Commercial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 9,694 | 12,046 |
Commercial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Consumer [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 7,283 | 8,580 |
Consumer [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 7,275 | 8,570 |
Consumer [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 8 | 10 |
Consumer [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | ' | ' |
Loan_Quality_Troubled_Debt_Res
Loan Quality (Troubled Debt Restructuring Loans) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
contract | contract | contract | contract | |||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Number of Contracts | ' | $18 | ' | $18 | ||
Troubled Debt Restructurings: Recorded Investment | ' | 16,684,000 | ' | 17,039,000 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | ' | ' | ' | ' | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ' | ' | ' | ' | ||
Troubled Debt Restructurings, New During Period, Number of Contracts | 2 | 0 | 3 | ' | ||
Pre-TDR Modification | 8,089,000 | ' | 10,533,000 | ' | ||
After-TDR Modification | 8,089,000 | ' | 10,820,000 | ' | ||
Troubled Debt Restructurings, New During Period, Recorded Investment | 8,089,000 | ' | 10,734,000 | ' | ||
Performing [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | 15,212,000 | [1] | ' | 14,943,000 | [1] |
Nonperforming [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | 1,472,000 | [1] | ' | 2,096,000 | [1] |
Residential Real Estate - Construction [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Number of Contracts | ' | 1 | ' | 1 | ||
Troubled Debt Restructurings: Recorded Investment | ' | 525,000 | ' | 537,000 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | ' | ' | ' | ' | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ' | ' | ' | ' | ||
Residential Real Estate - Construction [Member] | Nonperforming [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | 525,000 | [1] | ' | 537,000 | [1] |
Residential Real Estate 1-4 Family [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Number of Contracts | ' | 5 | ' | 5 | ||
Troubled Debt Restructurings: Recorded Investment | ' | 603,000 | ' | 625,000 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | ' | ' | ' | ' | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ' | ' | ' | ' | ||
Troubled Debt Restructurings, New During Period, Number of Contracts | 1 | ' | 1 | ' | ||
Pre-TDR Modification | 75,000 | ' | 75,000 | ' | ||
After-TDR Modification | 75,000 | ' | 75,000 | ' | ||
Troubled Debt Restructurings, New During Period, Recorded Investment | 75,000 | ' | 75,000 | ' | ||
Residential Real Estate 1-4 Family [Member] | Performing [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | 603,000 | [1] | ' | 625,000 | [1] |
Commercial Real Estate [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Number of Contracts | ' | 12 | ' | 12 | ||
Troubled Debt Restructurings: Recorded Investment | ' | 15,556,000 | ' | 15,877,000 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | ' | ' | ' | ' | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ' | ' | ' | ' | ||
Troubled Debt Restructurings, New During Period, Number of Contracts | 1 | ' | 2 | ' | ||
Pre-TDR Modification | 8,014,000 | ' | 10,458,000 | ' | ||
After-TDR Modification | 8,014,000 | ' | 10,745,000 | ' | ||
Troubled Debt Restructurings, New During Period, Recorded Investment | 8,014,000 | ' | 10,659,000 | ' | ||
Commercial Real Estate [Member] | Performing [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | 14,609,000 | [1] | ' | 14,318,000 | [1] |
Commercial Real Estate [Member] | Nonperforming [Member] | ' | ' | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||
Troubled Debt Restructurings: Recorded Investment | ' | $947,000 | [1] | ' | $1,559,000 | [1] |
[1] | The performing status is determined by the loanbs compliance with the modified terms. |
Pension_Narrative_Details
Pension (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Pension [Abstract] | ' | ' |
Expected pension expense | $275 | ' |
Pension Expense | ' | $560 |
Pension_Schedule_Of_Net_Period
Pension (Schedule Of Net Periodic Pension Costs) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Pension [Abstract] | ' | ' | ' | ' |
Service cost | $83 | $114 | $169 | $228 |
Interest cost | 194 | 179 | 391 | 358 |
Expected return on plan assets | -291 | -312 | -581 | -624 |
Recognized net actuarial loss | 81 | 159 | 163 | 318 |
Net period cost | $67 | $140 | $142 | $280 |
Fair_Value_Measurements_And_Fa2
Fair Value Measurements And Fair Values Of Financial Instruments (Fair Value, By Balance Sheet Grouping) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Investment securities available for sale, at fair value | $175,419 | $159,674 |
Interest rate swaps | 384 | 561 |
Carrying Amount [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 54,791 | 40,745 |
Investment securities available for sale, at fair value | 175,419 | 159,674 |
Restricted stock | 1,938 | 1,906 |
Loans held for sale | 600 | 349 |
Net loans | 723,200 | 713,711 |
Accrued interest receivable | 3,210 | 3,087 |
Mortgage servicing rights | 176 | 184 |
Deposits | 900,704 | 845,724 |
Securities sold under agreements to repurchase | 2,264 | 23,834 |
Long-term debt | 12,000 | 12,403 |
Accrued interest payable | 206 | 229 |
Interest rate swaps | 384 | 561 |
Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 54,791 | 40,745 |
Investment securities available for sale, at fair value | 175,419 | 159,674 |
Restricted stock | 1,938 | 1,906 |
Loans held for sale | 600 | 349 |
Net loans | 726,748 | 722,119 |
Accrued interest receivable | 3,210 | 3,087 |
Mortgage servicing rights | 176 | 184 |
Deposits | 901,068 | 846,289 |
Securities sold under agreements to repurchase | 2,264 | 23,834 |
Long-term debt | 12,418 | 12,999 |
Accrued interest payable | 206 | 229 |
Interest rate swaps | 384 | 561 |
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 54,791 | 40,745 |
Investment securities available for sale, at fair value | 394 | 1,970 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Investment securities available for sale, at fair value | 175,025 | 157,704 |
Restricted stock | 1,938 | 1,906 |
Loans held for sale | 600 | 349 |
Accrued interest receivable | 3,210 | 3,087 |
Deposits | 901,068 | 846,289 |
Securities sold under agreements to repurchase | 2,264 | 23,834 |
Long-term debt | 12,418 | 12,999 |
Accrued interest payable | 206 | 229 |
Interest rate swaps | 384 | 561 |
Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Net loans | 726,748 | 722,119 |
Mortgage servicing rights | $176 | $184 |
Fair_Value_Measurements_And_Fa3
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | $175,419 | $159,674 |
Total assets | 175,419 | 159,674 |
Interest rate swaps | 384 | 561 |
Total liabilities | 384 | 561 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 394 | 1,970 |
Total assets | 394 | 1,970 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 175,025 | 157,704 |
Total assets | 175,025 | 157,704 |
Interest rate swaps | 384 | 561 |
Total liabilities | 384 | 561 |
Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 394 | 1,970 |
Equity Securities [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 394 | 1,970 |
U.S. Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 15,395 | 11,751 |
U.S. Government Agency Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 15,395 | 11,751 |
Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 65,050 | 56,857 |
Municipal Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 65,050 | 56,857 |
Corporate Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 1,000 | 1,001 |
Corporate Debt Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 1,000 | 1,001 |
Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 5,306 | 5,051 |
Trust Preferred Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 5,306 | 5,051 |
Agency Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 86,352 | 81,027 |
Agency Mortgage-Backed Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 86,352 | 81,027 |
Private-Label Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 1,876 | 1,969 |
Private-Label Mortgage-Backed Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 1,876 | 1,969 |
Asset-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | 46 | 48 |
Asset-Backed Securities [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale | $46 | $48 |
Fair_Value_Measurements_And_Fa4
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value An A Nonrecurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | $3,737 | $9,270 | ||
Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 3,737 | 9,270 | ||
Impaired Loans [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,730 | [1] | 8,588 | [1] |
Impaired Loans [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,730 | [1] | 8,588 | [1] |
Other Real Estate Owned [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 831 | [1] | 498 | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 831 | [1] | 498 | [1] |
Mortgage Servicing Rights [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 176 | 184 | ||
Mortgage Servicing Rights [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | $176 | [2] | $184 | [2] |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. | |||
[2] | Valuation and inputs are determined by a third-party pricing service without adjustment. |
Fair_Value_Measurements_And_Fa5
Fair Value Measurements And Fair Value Of Financial Instruments (Additional Qualitative Information About Level 3 Assets) (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 3,737 | 9,270 | ||
Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 3,737 | 9,270 | ||
Impaired Loans [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,730 | [1] | 8,588 | [1] |
Impaired Loans [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,730 | [1] | 8,588 | [1] |
Impaired Loans [Member] | Level 3 [Member] | Minimum [Member] | Appraisal Adjustments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 0.00% | [2] | 0.00% | [2] |
Impaired Loans [Member] | Level 3 [Member] | Minimum [Member] | Cost To Sell [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 0.00% | 5.00% | ||
Impaired Loans [Member] | Level 3 [Member] | Maximum [Member] | Appraisal Adjustments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 100.00% | [2] | 60.00% | [2] |
Impaired Loans [Member] | Level 3 [Member] | Maximum [Member] | Cost To Sell [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 10.00% | 13.50% | ||
Impaired Loans [Member] | Level 3 [Member] | Weighted Average [Member] | Appraisal Adjustments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 30.44% | [2] | 5.00% | [2] |
Impaired Loans [Member] | Level 3 [Member] | Weighted Average [Member] | Cost To Sell [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 4.70% | 7.00% | ||
Other Real Estate Owned [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 831 | [1] | 498 | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 831 | [1] | 498 | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | Weighted Average [Member] | Cost To Sell [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount Rate | 8.00% | 8.00% | ||
Mortgage Servicing Rights [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 176 | 184 | ||
Mortgage Servicing Rights [Member] | Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, Fair Value Disclosure, Nonrecurring | 176 | [3] | 184 | [3] |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. | |||
[2] | Qualitative adjustments are discounts specific to each asset and are made as needed. | |||
[3] | Valuation and inputs are determined by a third-party pricing service without adjustment. |
Financial_Derivatives_Schedule
Financial Derivatives (Schedule Of Interest Rate Swap) (Details) (Interest Rate Swap Maturing 5/30/2013 [Member], USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Interest Rate Swap Maturing 5/30/2013 [Member] | ' |
Derivative [Line Items] | ' |
Notional Amount | $10,000 |
Maturity Date | 30-May-15 |
Fixed Interest Rate | 3.87% |
Variable Interest Rate | 0.04% |
Amount Expected to be Expensed into Earnings within the next 12 Months | $351 |
Financial_Derivatives_Schedule1
Financial Derivatives (Schedule Of Fair Value Of Derivative Instruments) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Interest Rate Swap Maturing 5/30/2013 [Member] | Interest Rate Swap Maturing 5/30/2015 [Member] | ||
Other Liabilities [Member] | Other Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' |
Type | ' | ' | 'Interest rate contracts | 'Interest rate contracts |
Balance Sheet Location | ' | ' | 'Other liabilities | 'Other liabilities |
Fair Value | $384 | $561 | $384 | $561 |
Financial_Derivatives_Schedule2
Financial Derivatives (Schedule Of Effect Of Derivative Instruments On The Statement Of Income) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of Gain or (Loss) Recognized in OCI net of tax on (Effective Portion) | $60 | $128 | $117 | $248 |
Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 'Interest Expense | 'Interest Expense | 'Interest Expense | 'Interest Expense |
Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 'Other income (expense) | 'Other income (expense) | 'Other income (expense) | 'Other income (expense) |
Interest Expense [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | -94 | -152 | -189 | -332 |
Other Income (Expense) [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | ' | ' | ' | ' |
Financial_Derivatives_Schedule3
Financial Derivatives (Schedule Of Derivative Instruments Subject To Master Netting Arrangement Or Repurchase Agreement) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Financial Derivatives [Abstract] | ' | ' |
Gross Amounts of Recognized Liabilities | $384 | $561 |
Gross Amounts Offset in the Statements of Condition | ' | ' |
Net Amounts of Liabilities Presented in the Statements of Condition | 384 | 561 |
Gross Amounts Not Offset in the Statements of Condition | 384 | 561 |
Gross Amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | ' | ' |
Gross Amounts Not Offset in the Statements of Condition, Net Amount | ' | ' |