Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 26, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'LNB BANCORP INC | ' | ' |
Entity Central Index Key | '0000737210 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $70,125,702 |
Entity Common Stock, Shares Outstanding | ' | 9,664,972 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash and due from banks (Note 3) | $36,717,000 | $24,139,000 |
Federal funds sold and interest bearing deposits in banks | 15,555,000 | 6,520,000 |
Cash and cash equivalents | 52,272,000 | 30,659,000 |
Securities available for sale, at fair value (Note 5) | 216,122,000 | 203,763,000 |
Restricted stock | 5,741,000 | 5,741,000 |
Loans held for sale | 4,483,000 | 7,634,000 |
Loans: | ' | ' |
Portfolio loans (Note 7) | 902,299,000 | 882,548,000 |
Allowance for loan losses (Note 7) | -17,505,000 | -17,637,000 |
Net loans | 884,794,000 | 864,911,000 |
Bank premises and equipment, net (Note 8) | 8,198,000 | 8,721,000 |
Other real estate owned | 579,000 | 1,366,000 |
Bank owned life insurance | 19,362,000 | 18,611,000 |
Goodwill, net (Note 4) | 21,582,000 | 21,582,000 |
Intangible assets, net (Note 4) | 457,000 | 594,000 |
Accrued interest receivable | 3,621,000 | 3,726,000 |
Other assets (Note 13) | 13,046,000 | 10,946,000 |
Total Assets | 1,230,257,000 | 1,178,254,000 |
Deposits: (Note 9) | ' | ' |
Demand and other noninterest-bearing | 148,961,000 | 139,894,000 |
Savings, money market and interest-bearing demand | 393,778,000 | 377,287,000 |
Time deposits | 502,850,000 | 482,411,000 |
Total deposits | 1,045,589,000 | 999,592,000 |
Short-term borrowings (Note 10) | 4,576,000 | 1,115,000 |
Federal Home Loan Bank advances (Note 11) | 46,708,000 | 46,508,000 |
Junior subordinated debentures (Note 12) | 16,238,000 | 16,238,000 |
Accrued interest payable | 789,000 | 882,000 |
Accrued expenses and other liabilities | 4,901,000 | 3,775,000 |
Total Liabilities | 1,118,801,000 | 1,068,110,000 |
Shareholders’ Equity (Notes 14 and 15) | ' | ' |
Discount on Series B preferred stock | -19,000 | -65,000 |
Common stock, par value $1 per share, authorized 15,000,000 shares, issued 10,001,717 shares at December 31, 2013 and 8,272,548 at December 31, 2012 | 10,002,000 | 8,273,000 |
Additional paid-in capital | 51,098,000 | 39,141,000 |
Retained earnings | 53,966,000 | 48,767,000 |
Accumulated other comprehensive income (loss) (Note 23) | -5,188,000 | 1,240,000 |
Treasury shares at cost, 328,194 shares at December 31, 2013 and at December 31, 2012 | -6,092,000 | -6,092,000 |
Total Shareholders’ Equity | 111,456,000 | 110,144,000 |
Total Liabilities and Shareholders’ Equity | $1,230,257,000 | $1,178,254,000 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred stock, shares authorized | 1,000,000 | ' |
Common stock, par value | $1 | $1 |
Common stock, authorized | 15,000,000 | 15,000,000 |
Common stock, issued | 10,001,717 | 8,272,548 |
Treasury stock, shares | 328,194 | 328,194 |
Series A Preferred Stock [Member] | ' | ' |
Preferred stock, par value | ' | ' |
Preferred stock, shares authorized | 150,000 | 150,000 |
Preferred stock, shares issued | 0 | 0 |
Series B Preferred Stock [Member] | ' | ' |
Preferred stock, par value | ' | ' |
Preferred stock, Series B, liquidation value | $1,000 | $1,000 |
Preferred stock, shares authorized | 7,689 | 18,880 |
Preferred stock, shares issued | 7,689 | 18,880 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest and Dividend Income | ' | ' | ' |
Loans | $36,409 | $39,794 | $42,133 |
Securities: | ' | ' | ' |
U.S. Government agencies and corporations | 3,587 | 4,677 | 5,847 |
State and political subdivisions | 1,191 | 1,157 | 1,035 |
Other debt and equity securities | 464 | 285 | 277 |
Federal funds sold and interest on deposits in banks | 28 | 35 | 57 |
Total interest and dividend income | 41,679 | 45,948 | 49,349 |
Interest Expense | ' | ' | ' |
Deposits | 4,838 | 5,944 | 8,367 |
Federal Home Loan Bank advances | 628 | 865 | 1,053 |
Short-term borrowings | 7 | 1 | 2 |
Junior subordinated debentures | 683 | 699 | 686 |
Total interest expense | 6,156 | 7,509 | 10,108 |
Net Interest Income | 35,523 | 38,439 | 39,241 |
Provision for Loan Losses (Note 7) | 4,375 | 7,242 | 10,353 |
Net interest income after provision for loan losses | 31,148 | 31,197 | 28,888 |
Noninterest Income | ' | ' | ' |
Investment and trust services | 1,555 | 1,563 | 1,610 |
Deposit service charges | 3,509 | 3,811 | 4,079 |
Other service charges and fees | 3,279 | 3,082 | 3,246 |
Income from bank owned life insurance | 752 | 742 | 722 |
Other income | 521 | 877 | 330 |
Total fees and other income | 9,616 | 10,075 | 9,987 |
Securities gains, net (Note 5) | 178 | 189 | 832 |
Gains on sale of loans | 2,324 | 1,575 | 889 |
Gain (Loss) on sale of other assets, net | 8 | -92 | -293 |
Total noninterest income | 12,126 | 11,747 | 11,415 |
Noninterest Expense | ' | ' | ' |
Salaries and employee benefits (Notes 18 & 19) | 18,058 | 16,768 | 15,944 |
Furniture and equipment | 4,234 | 4,782 | 3,987 |
Net occupancy (Note 8) | 2,310 | 2,207 | 2,310 |
Professional fees | 1,870 | 2,034 | 1,854 |
Marketing and public relations | 1,216 | 1,231 | 1,002 |
Supplies, postage and freight | 1,045 | 1,091 | 1,107 |
Telecommunications | 669 | 731 | 727 |
Ohio franchise tax | 1,213 | 1,232 | 1,298 |
FDIC assessments | 1,039 | 1,304 | 1,749 |
Other real estate owned | 382 | 570 | 1,021 |
Loan and collection expense | 1,427 | 1,150 | 1,364 |
Other expense | 1,724 | 1,803 | 1,781 |
Total noninterest expense | 35,187 | 34,903 | 34,144 |
Income before income tax expense | 8,087 | 8,041 | 6,159 |
Income tax expense (Note 13) | 1,926 | 1,934 | 1,156 |
Net income | 6,161 | 6,107 | 5,003 |
Other comprehensive income (loss), net of taxes: | ' | ' | ' |
Changes in unrealized securities' holding gain (loss) net of taxes | -7,070 | -598 | 1,095 |
Minimum pension liability adjustment, net of taxes during the period | 759 | -237 | -346 |
Less: reclassification adjustments for securities' gains realized in net income, net of taxes | 117 | 126 | 555 |
Total other comprehensive income (loss), net of taxes | -6,428 | -961 | 194 |
Comprehensive income | -267 | 5,146 | 5,197 |
Dividends and accretion on preferred stock | 646 | 1,266 | 1,276 |
Net Income Available to Common Shareholders | $5,515 | $4,841 | $3,727 |
Net Income Per Common Share (Note 2) | ' | ' | ' |
Basic (in dollars per share) | $0.61 | $0.61 | $0.47 |
Diluted (in dollars per share) | $0.61 | $0.61 | $0.47 |
Dividends declared (in dollars per share) | $0.04 | $0.04 | $0.04 |
Average Common Shares Outstanding | ' | ' | ' |
Basic (in shares) | 9,050,901 | 7,939,433 | 7,880,249 |
Diluted (in shares) | 9,070,890 | 7,943,918 | 7,880,249 |
CONSOLIDATED_STATEMENTS_OF_SHA
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $) | Total | Preferred Stock (net of discount) | Warrant to Purchase Common Stock | Common Stock [Member] | Additional Paid-In-Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Beginning Balance at Dec. 31, 2010 | $109,464,000 | $25,107,000 | $146,000 | $8,173,000 | $39,455,000 | $40,668,000 | $2,007,000 | ($6,092,000) |
Net income | 5,003,000 | ' | ' | ' | ' | 5,003,000 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | 194,000 | ' | ' | ' | ' | ' | 194,000 | ' |
Share-based compensation | 189,000 | ' | ' | ' | 189,000 | ' | ' | ' |
Common shares issued (462,234 shares) | 0 | ' | ' | 37,000 | -37,000 | ' | ' | ' |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | 0 | ' | ' | ' | ' | ' | ' | ' |
Preferred dividends and accretion of discount | -1,261,000 | 15,000 | ' | ' | ' | -1,276,000 | ' | ' |
Common dividends declared, $.04 per share | -315,000 | ' | ' | ' | ' | -315,000 | ' | ' |
Ending Balance at Dec. 31, 2011 | 113,274,000 | 25,122,000 | 146,000 | 8,210,000 | 39,607,000 | 44,080,000 | 2,201,000 | -6,092,000 |
Net income | 6,107,000 | ' | ' | ' | ' | 6,107,000 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -961,000 | ' | ' | ' | ' | ' | -961,000 | ' |
Share-based compensation | 311,000 | ' | ' | ' | 311,000 | ' | ' | ' |
Restricted shares granted | 0 | ' | ' | 63,000 | -63,000 | ' | ' | ' |
Repurchase of warrants | -860,000 | ' | -146,000 | ' | -714,000 | ' | ' | ' |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -6,159,000 | -6,322,000 | ' | ' | ' | 163,000 | ' | ' |
Preferred dividends and accretion of discount | -1,251,000 | 15,000 | ' | ' | ' | -1,266,000 | ' | ' |
Common dividends declared, $.04 per share | -317,000 | ' | ' | ' | ' | -317,000 | ' | ' |
Redemption of Fixed-Rate Cumulative Perpetual Preferred Stock (6,343 shares) | ' | ' | ' | ' | ' | -163,000 | ' | ' |
Ending Balance at Dec. 31, 2012 | 110,144,000 | 18,815,000 | 0 | 8,273,000 | 39,141,000 | 48,767,000 | 1,240,000 | -6,092,000 |
Net income | 6,161,000 | ' | ' | ' | ' | 6,161,000 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | -6,428,000 | ' | ' | ' | ' | ' | -6,428,000 | ' |
Share-based compensation | 271,000 | ' | ' | ' | 271,000 | ' | ' | ' |
Restricted shares granted | 13,415,000 | ' | ' | 1,726,000 | 11,689,000 | ' | ' | ' |
Repurchase of warrants | 0 | ' | ' | ' | ' | ' | ' | ' |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -1,467,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred dividends and accretion of discount | -636,000 | 10,000 | ' | ' | ' | -646,000 | ' | ' |
Common dividends declared, $.04 per share | -359,000 | ' | ' | ' | ' | -359,000 | ' | ' |
Repurchase of warrants | 0 | ' | ' | 3,000 | -3,000 | ' | ' | ' |
Redemption of Fixed-Rate Cumulative Perpetual Preferred Stock (6,343 shares) | -11,112,000 | -11,155,000 | ' | ' | ' | 43,000 | ' | ' |
Ending Balance at Dec. 31, 2013 | $111,456,000 | $7,670,000 | $0 | $10,002,000 | $51,098,000 | $53,966,000 | ($5,188,000) | ($6,092,000) |
CONSOLIDATED_STATEMENTS_OF_SHA1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' |
Restricted shares granted | 10,000 | 62,105 | 40,000 |
Net of forfeitures | 7,500 | 0 | 2,500 |
Redemption of preferred stock (in shares) | 11,191 | 6,343 | ' |
Common shares issued | 1,726,669 | 0 | 0 |
Dividends declared (in dollars per share) | $0.04 | $0.04 | $0.04 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities | ' | ' | ' |
Net income | $6,161 | $6,107 | $5,003 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 4,375 | 7,242 | 10,353 |
Depreciation and amortization | 1,014 | 1,147 | 1,228 |
Amortization of premiums and discounts | 2,237 | 2,738 | 1,390 |
Amortization of intangibles | 137 | 137 | 137 |
Amortization of loan servicing rights | 206 | 304 | 201 |
Amortization of deferred loan fees | -54 | -294 | -54 |
Federal deferred income tax expense (benefit) | 856 | 372 | -43 |
Securities gains, net | -178 | -189 | -832 |
Share-based compensation expense | 271 | 310 | 189 |
Loans originated for sale | -106,524 | -90,475 | -69,066 |
Proceeds from sales of loan originations | 111,998 | 87,864 | 71,612 |
Net gain from loan sales | -2,324 | -1,575 | -889 |
Net loss (gain) on sale of other assets | -8 | 92 | 293 |
Net decrease (increase) in accrued interest receivable and other assets | 654 | -243 | 5,372 |
Net increase (decrease) in accrued interest payable, taxes and other liabilities | 1,110 | -448 | 230 |
Net cash provided by operating activities | 19,931 | 13,089 | 25,124 |
Investing Activities | ' | ' | ' |
Proceeds from sales of available-for-sale securities | 2,272 | 25,462 | 36,427 |
Proceeds from maturities of available-for-sale securities | 65,022 | 122,244 | 111,809 |
Purchase of available-for-sale securities | -92,610 | -129,101 | -152,265 |
Net increase in loans made to customers | -24,586 | -46,676 | -42,419 |
Proceeds from the sale of other real estate owned | 1,172 | 1,070 | 3,651 |
Purchase of bank premises and equipment | -508 | -900 | -774 |
Proceeds from sale of bank premises and equipment | 22 | 0 | 257 |
Net cash provided by (used in) investing activities | -49,216 | -27,901 | -43,314 |
Financing Activities | ' | ' | ' |
Net increase in demand and other noninterest-bearing | 9,067 | 13,181 | 11,237 |
Net increase in savings, money market and interest-bearing demand | 16,491 | 17,310 | 41,543 |
Net increase (decrease) in certificates of deposit | 20,439 | -21,979 | -40,226 |
Net increase (decrease) in short-term borrowings | 3,461 | 888 | -705 |
Proceeds from Federal Home Loan Bank advances | 0 | 57,500 | 24,500 |
Payment of Federal Home Loan Bank advances | -14 | -52,472 | -24,504 |
Deferred FHLB prepayment penalty | 214 | -1,017 | 0 |
Repurchase of warrants | 0 | -860 | ' |
Net proceeds from issuance of common stock | 3,682 | 0 | 0 |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -1,467 | -6,159 | 0 |
Dividends paid | -975 | -1,568 | -1,576 |
Net cash provided by financing activities | 50,898 | 4,824 | 10,269 |
Net increase (decrease) in cash and cash equivalents | 21,613 | -9,988 | -7,921 |
Cash and cash equivalents, January 1 | 30,659 | 40,647 | 48,568 |
Cash and cash equivalents, December 31 | 52,272 | 30,659 | 40,647 |
Supplemental cash flow information | ' | ' | ' |
Interest paid | 6,249 | 7,745 | 10,424 |
Income taxes paid | 2,325 | 2,006 | 960 |
Transfer of loans to other real estate owned | 633 | 1,173 | 3,120 |
Exchange of Preferred shares for Common Shares | $9,701 | ' | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Basis of Presentation | |
The consolidated financial statements include the accounts of LNB Bancorp, Inc. (the “Corporation”) and its wholly-owned subsidiary, The Lorain National Bank (the “Bank”). The consolidated financial statements also include the accounts of North Coast Community Development Corporation which is a wholly-owned subsidiary of the Bank. All intercompany transactions and balances have been eliminated in consolidation. | |
Certain reclassifications of prior years' amounts have been made to conform to current year presentation. Such reclassifications had no effect on prior year net income or shareholders' equity. | |
Use of Estimates | |
LNB Bancorp Inc. prepares its financial statements in conformity with generally accepted accounting principles (GAAP), which requires the Corporation’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas involving the use of management’s estimates and assumptions include the allowance for loan losses, the valuation of goodwill, the realization of deferred tax assets and fair values of financial instruments. | |
Segment Information | |
The Corporation’s activities are considered to be a single industry segment for financial reporting purposes. LNB Bancorp, Inc. is a financial holding company engaged in the business of commercial and retail banking, investment management and trust services, title insurance, and insurance with operations conducted through its main office and banking centers located throughout Lorain, Erie, Cuyahoga, Summit, and Franklin counties of Ohio. This market provides the source for substantially all of the Bank’s deposit and loan and trust activities. The majority of the Bank’s income is derived from a diverse base of commercial, mortgage and retail lending activities and investments. | |
Statement of Cash Flows | |
For purposes of reporting in the Consolidated Statements of Cash Flows, cash and cash equivalents include currency on hand, amounts due from banks, Federal funds sold, and securities purchased under resale agreements. Generally, Federal funds sold and securities purchased under resale agreements are for one day periods. | |
Securities | |
Securities that are bought and held for the sole purpose of being sold in the near term are deemed trading securities with any related unrealized gains and losses reported in earnings. As of December 31, 2013 and December 31, 2012, the Corporation did not hold any trading securities. Securities that the Corporation has a positive intent and ability to hold to maturity are classified as held to maturity. As of December 31, 2013 and December 31, 2012, LNB Bancorp, Inc. did not hold any securities classified as held to maturity. Securities that are not classified as trading or held to maturity are classified as available for sale. Securities classified as available for sale are carried at their fair value with unrealized gains and losses, net of tax, included as a component of accumulated other comprehensive income. Interest and dividends on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity or call, are included in interest income. Gains and losses on sales of securities are determined on the specific identification method. | |
Management evaluates securities for other-than-temporary impairment (“OTTI”) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. When evaluating investment securities consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, whether the market decline was affected by macroeconomic conditions and whether the Corporation has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. In analyzing an issuer’s financial condition, the Corporation may consider whether the securities are issued by the federal government or its agencies, or U.S. Government sponsored enterprises, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. | |
When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. If a security is determined to be other-than-temporarily impaired, but the entity does not intend to sell the security, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. | |
Restricted Stock | |
The Bank is a member of the Federal Home Loan Bank (FHLB) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. The Bank is also a member of and owns stock in the Federal Reserve Bank. The Corporation also owns stock in Bankers Bancshares Inc., an institution that provides correspondent banking services to community banks. Stock in these institutions is classified as restricted stock and is recorded at redemption value which approximates fair value. The Corporation periodically evaluates the restricted stock for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |
Loans Held For Sale | |
Held for sale loans are carried at the lower of amortized cost or estimated fair value, determined on an aggregate basis for each type of loan. Net unrealized losses are recognized by charges to income. Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in the noninterest income section of the consolidated statement of income. | |
Mortgage banking | |
The Corporation sells originated mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Corporation has exposure to movements in interest rates associated with mortgage loans that are in the “mortgage pipeline” and the “mortgage warehouse”. A pipeline loan is one in which the Corporation has entered into a written mortgage loan commitment with a potential borrower that will be held for resale. Written loan commitments that relate to the origination of mortgage loans that will be held for resale are considered free-standing derivatives and do not qualify for hedge accounting. Written loan commitments generally have a term of up to 60 days before the closing of the loan. The loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected “fallout” (loan commitments not expected to close), using models, which consider cumulative historical fallout rates and other factors. Fallout can occur for a variety of reasons including falling interest rate environments where a borrower abandons an interest rate lock loan commitment when a borrower is not approved as an acceptable credit by the lender or for a variety of other non-economic reasons. | |
Written loan commitments in which the borrower has locked in an interest rate results in market risk to the Corporation to the extent market interest rates change from the rate quoted to the borrower. The Corporation economically hedges the risk of changing interest rates associated with its interest rate lock commitments by entering into mandatory forward sales contracts. | |
The Corporation's mortgage loans held for sale are subject to changes in fair value, due to changes in interest rates from the loan's closing date through the date the mortgage loan is sold in the secondary market. The fair value of the mortgage loan declines in value when interest rates increase and conversely increases in value when interest rates decrease. To mitigate the risk of changes in interest rates the Corporation enters into mandatory forward sales contracts on a portion of the mortgage loans held for sale to provide an economic hedge against those changes in fair value. The mandatory forward sales contracts were recorded at fair value with changes in value recorded in current earnings. | |
Indirect Lending | |
The Corporation’s indirect auto lending program originates new and used automobile loans to highly-qualified borrowers, generated through a network of automobile dealers located in Ohio, Pennsylvania, Kentucky, Georgia, Tennessee, Indiana and North Carolina. In addition to generating interest and fee income, the Corporation sells certain loans generated through this program as a means to manage the Bank’s balance sheet as well as maintain and build relationships with a network of investors that purchase the indirect auto loans from the Corporation. The indirect loans that are held for sale are carried at amortized cost and are typically sold to investors for a premium. The Corporation sells the indirect auto loans on terms that are determined on a deal by deal basis, with servicing retained by the Corporation. | |
Derivative Instruments and Hedging Activities | |
The Corporation uses interest rate swaps, interest rate lock commitments and forward contracts sold to hedge interest rate risk for asset and liability management purposes. All derivatives are accounted for in accordance with ASC-815, Derivatives and Hedging, and are recorded as either other assets or other liabilities at fair value. The Corporation engages in an interest rate program to mitigate its exposure to rising interest rates. The interest rate program provides that a customer receives a fixed interest rate commercial loan and the Corporation subsequently converts that fixed rate loan to a variable rate instrument over the term of the loan by entering into an interest rate swap with a dealer counterparty based on a London Inter-Bank Offered Rate index. The Corporation then receives a fixed rate payment from the customer on the loan and pays the equivalent amount to the dealer counterparty on the swap in exchange for a variable rate payment stream. Based upon accounting guidance each swap is accounted for as a stand-alone derivative and designated as a fair value hedge with any changes in fair value presented in current earnings. Additional information regarding fair value measurement is included in Note 20 (Financial Instruments with Off Balance Sheet Risk and Contingencies) in the notes to the consolidated financial statements. | |
Loans | |
Loans are reported at the principal amount outstanding, net of unearned income and premiums and discounts. Loans acquired through business combinations are valued at fair market value on or near the date of acquisition. The difference between the principal amount outstanding and the fair market valuation is amortized over the aggregate average life of each class of loan. Unearned income includes deferred fees, net of deferred direct incremental loan origination costs. Unearned income is amortized to interest income, over the contractual life of the loan, using the interest method. Direct loan origination fees and costs are deferred and amortized as an adjustment to interest income over the contractual life of the loan, using the interest method. | |
Loans are generally placed on nonaccrual status when they are 90 days past due for interest or principal or when the full and timely collection of interest or principal becomes uncertain. When a loan has been placed on nonaccrual status, the accrued and unpaid interest receivable is reversed against interest income. Generally, a loan is returned to accrual status when all delinquent interest and principal becomes current under the terms of the loan agreement and when the collectability is no longer doubtful. | |
A loan is impaired when based on current information and events it is probable the Corporation will be unable to collect the scheduled payment of principal and interest when due under the contractual terms of the loan agreement. Impairment is evaluated in total for smaller-balance loans of similar nature such as real estate mortgages and installment loans, and on an individual loan basis for commercial loans that are graded substandard or below. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis. If a loan is impaired, a portion of the allowance may be allocated so that the loan is reported, net, using either the present value of estimated future cash flows discounted at the loans effective interest rate, the loan's observable market value or at the fair value of collateral if repayment is expected solely from the collateral. | |
Allowance for Loan Losses | |
The allowance for loan losses is management’s estimate of credit losses inherent in the loan portfolio at the balance sheet date. Management’s determination of the allowance, and the resulting provision, is based on judgments and assumptions, including general economic conditions, loan portfolio composition, loan loss experience, management’s evaluation of credit risk relating to pools of loans and individual borrowers, sensitivity analysis and expected loss models, value of underlying collateral, and observations of internal loan review staff or banking regulators. | |
The provision for loan losses is determined based on Management’s evaluation of the loan portfolio and the adequacy of the allowance for loan losses under current economic conditions and such other factors which, in management’s judgment, deserve current recognition. | |
Small Business Administration Lending | |
The Corporation is approved to originate loans under the Small Business Administration (SBA) which are sometimes sold in the secondary market. The SBA’s program affords the Corporation a higher level of delegated credit autonomy, translating to a significantly shorter turnaround time from application to funding. The Corporation retains the unguaranteed portion of these loans and sells the guaranteed portion of these loans. The guaranteed portion of these loans is readily marketable on a servicing-retained basis in an active national secondary market. In general, the SBA guarantees up to 85% of the loan amount depending on loan size. The Corporation continues to service these loans after sale and is required under the SBA programs to retain specified amounts. The servicing spread is 1% on the majority of loans. In calculating gain on the sale of SBA loans, the Corporation performs an allocation based on the relative fair values of the sold portion and retained portion of the loan. The Corporation's assumptions are validated by reference to external market information. | |
Servicing | |
Servicing assets are recognized as separate assets when rights are acquired through sale of financial assets. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Servicing assets are evaluated for impairment on a quarterly basis based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Impairment is recognized through a valuation allowance for an individual stratum, to the extent that fair value is less than the capitalized amount for the stratum. | |
Bank Premises and Equipment | |
Bank premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed generally on the straight-line method over the estimated useful lives of the assets. Upon the sale or other disposition of assets, the cost and related accumulated depreciation are retired and the resulting gain or loss is recognized. Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized. Software costs related to externally developed systems are capitalized at cost less accumulated amortization. Amortization is computed on the straight-line method over the estimated useful life. | |
Fair Value Measurement | |
The Corporation uses fair value measurements to record certain assets and liabilities at fair value and determine fair value disclosures. Additional information regarding fair value measurement is included in Note 21 (Estimated Fair Value Financial Instruments) in the notes to the consolidated financial statements. | |
Goodwill and Core Deposit Intangibles | |
Intangible assets arise from acquisitions and include goodwill and core deposit intangibles. Goodwill is the excess of purchase price over the fair value of identified net assets in acquisitions. Core deposit intangibles represent the value of depositor relationships purchased. Goodwill is evaluated at least annually for impairment or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Corporation evaluates goodwill impairment annually as of November 30th of each year. Core deposit intangible assets are amortized using the straight-line method over ten years and are subject to annual impairment testing. | |
To simplify the process of testing goodwill for impairment for both public and nonpublic entities, on September 15, 2011 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-08, Intangibles — Goodwill and Other (Topic 350): Testing Goodwill for Impairment. ASU 2011-08 gives an entity the option to first assess qualitative factors to determine whether it is more likely than not (a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount (impairment). If the entity finds after the qualitative assessment that it is more likely than not (impairment indicators) that the fair value of a reporting unit is less than its carrying amount, the entity is then required to perform a full impairment test. Prior to the update, entities were required to test goodwill for impairment on at least an annual basis. The Corporation early adopted the ASU for 2011. | |
Other Real Estate Owned | |
Other real estate owned (OREO) is comprised of property acquired through a foreclosure proceeding or acceptance of a deed-in-lieu of foreclosure, and loans classified as in-substance foreclosure. Other real estate owned is recorded at the lower of the recorded investment in the loan at the time of acquisition or the fair value of the underlying property collateral, less estimated selling costs. Any write-down in the carrying value of a property at the time of acquisition is charged to the allowance for loan losses. Any subsequent write-downs to reflect current fair market value, as well as gains and losses on disposition and revenues and expenses incurred in maintaining such properties, are treated as period costs. Banking premises are transferred at the lower of carrying value or estimated fair value, less estimated selling costs. | |
Bank Owned Life Insurance | |
Bank owned life insurance policies are stated at the current cash surrender value of the policy, or the policy death proceeds less any obligation to provide a death benefit to an insured's beneficiaries if that value is less than the cash surrender value. Increases in the asset value are recorded as earnings in other income. | |
Split-Dollar Life Insurance | |
The Corporation recognizes a liability and related compensation costs for endorsement split-dollar life insurance policies that provide a benefit to certain employees extending to postretirement periods. Based on the present value of expected future cash flows, the liability is recognized based on the substantive agreement with the employee. | |
Share-Based Compensation | |
The Corporation’s stock based compensation plans are described in detail in Note 18 (Share-Based Compensation). Compensation expense is recognized for stock options and unvested (restricted) stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation’s common shares at the date of grant is used to estimate the fair value of unvested (restricted) stock awards. | |
Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards and as the unvested period for nonvested (restricted) stock awards. Certain of the Corporation’s share-based awards contain terms that provide for a graded vesting schedule whereby portions of the award vest in increments over the requisite service period. | |
Investment and Trust Services Assets and Income | |
Property held by the Corporation in fiduciary or agency capacity for its customers is not included in the Corporation’s financial statements as such items are not assets of the Corporation. Income from the Investment and Trust Services Division is reported on an accrual basis. | |
Off Balance Sheet Instruments | |
In the ordinary course of business, the Corporation has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. Additional information regarding Off Balance Sheet Instruments is included in Note 20 (Commitments and Contingencies) in the notes to the consolidated financial statements. | |
Income Taxes | |
The Corporation and its wholly-owned subsidiary file an annual consolidated Federal income tax return. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be removed or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when necessary to reduce deferred tax assets to amounts which are deemed more likely than not to be realized. | |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale and changes in the funded status of the pension plan, which are also recognized as separate components of shareholders’ equity. Unrealized losses on the Corporation’s available-for-sale securities (after applicable income tax expense) totaling $3,892 and unrealized gains of $3,295 at December 31, 2013 and 2012, respectively, and the minimum pension liability adjustment (after applicable income tax benefit) totaling $1,296 and $2,055 at December 31, 2013 and 2012, respectively, are included in accumulated other comprehensive income. | |
Recent Financial Accounting Pronouncements | |
In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ASU No. 2013-01 clarifies that ASU No. 2011-11 applies only to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. Entities with other types of financial assets and financial liabilities subject to a master netting arrangement or similar agreement are no longer subject to the disclosure requirements in ASU No. 2011-11. The amendments are effective for annual and interim reporting periods beginning on or after January 1, 2013. The adoption of this ASU did not have a material impact on the Corporation's consolidated financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. The ASU does not amend any existing requirements for reporting net income or other comprehensive income in the financial statements but requires an entity to disaggregate the total change of each component of other comprehensive income and separately present reclassification adjustments and current period other comprehensive income. The provisions of this ASU also requires that entities present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line item affected by the reclassification. If a component is not required to be reclassified to net income in its entirety, entities would instead cross reference to the related note to the financial statements for additional information. Note 23 contains additional information regarding reclassifications out of AOCI and into net income | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The ASU requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2013, and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this ASU is not expected to have a material impact on the Corporation's consolidated financial statements. |
Earnings_Loss_Per_Common_Share
Earnings (Loss) Per Common Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure Earning Per Share Additional Information [Abstract] | ' | |||||||||||
Earnings (Loss) Per Common Share | ' | |||||||||||
Earnings Per Common Share | ||||||||||||
Basic earnings per share are computed by dividing income available to common shareholders by the weighted average number of shares outstanding during the year. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effects of dilutive stock options and warrants outstanding during the year. Basic and diluted earnings per share are calculated as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands except per share amounts) | ||||||||||||
Weighted average shares outstanding used in Basic Earnings per Common Share | 9,050,901 | 7,939,433 | 7,880,249 | |||||||||
Dilutive effect of stock options | 19,989 | 4,485 | — | |||||||||
Weighted average shares outstanding used in Diluted Earnings Per Common Share | 9,070,890 | 7,943,918 | 7,880,249 | |||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Preferred stock dividend and accretion | 646 | 1,266 | 1,276 | |||||||||
Income Available to Common Shareholders | $ | 5,515 | $ | 4,841 | $ | 3,727 | ||||||
Basic Earnings Per Common Share | $ | 0.61 | $ | 0.61 | $ | 0.47 | ||||||
Diluted Earnings Per Common Share | $ | 0.61 | $ | 0.61 | $ | 0.47 | ||||||
Stock options totaling 172,000, 194,500 and 197,000 shares were not included in the computation of diluted earnings per share in the years ended December 31, 2013, 2012 and 2011, respectively, because they were considered antidilutive. |
Cash_and_Due_from_Banks
Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Cash Equivalents [Abstract] | ' |
Cash and Due from Banks | ' |
Cash and Due from Banks | |
Federal Reserve Board regulations require the Bank to maintain reserve balances on deposits with the Federal Reserve Bank of Cleveland. The required ending reserve balance was $271 on December 31, 2013 and $228 on December 31, 2012. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Goodwill and Intangible Assets | ' | |||||||
Goodwill and Intangible Assets | ||||||||
The Corporation has goodwill of $21,582 primarily from an acquisition completed in 2007. The Corporation assesses goodwill for impairment annually and more frequently in certain circumstances. In September 2011, FASB issued an update on the testing of goodwill for impairment under ASC Topic 350, Intangibles – Goodwill and Other. ASC 350 requires a corporation to test goodwill for impairment, on at least an annual basis, by comparing the fair value of a reporting unit with its carrying amount. The overall objective of the update is to simplify how entities, both public and private, test goodwill for impairment. Simplification has resulted in an entity having the option to first assess qualitative factors to determine whether the existence or circumstances lead to a determination that it is more likely than not (that is, a likelihood of more than fifty percent) that the fair value of a reporting unit is less than its carrying amount. For 2013 the Corporation determined the Bank was one reporting unit and assessed the following qualitative factors to determine if there is likelihood that goodwill is impaired: (a) industry and market considerations such as a deterioration in the environment in which the Corporation operates; (b) overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; (c) events affecting a reporting unit such as a change in the composition or carrying amount of the Corporation’s assets unit; (d) share price — considered in both absolute terms and relative to peers; (e) non-performing loans and allowance for loans losses; and (f) bank capital analysis. Based upon this assessment the Corporation determined that there is no likelihood of goodwill impairment therefore no impairment charge was recognized as of December 31, 2013 and December 31, 2012. | ||||||||
The Corporation cannot predict the occurrences of certain future events that might adversely affect the reported value of goodwill. Such events include, but are not limited to, strategic decisions in response to economic and competitive conditions, the effect of the economic environment on the Corporation’s customer base or a material negative change in the relationship with significant customers. | ||||||||
Core deposit intangibles are amortized over their estimated useful life of 10 years. A summary of core deposit intangible assets follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Core deposit intangibles | $ | 1,367 | $ | 1,367 | ||||
Less: accumulated amortization | 910 | 773 | ||||||
Carrying value of core deposit intangibles | $ | 457 | $ | 594 | ||||
Amortization expense for intangible assets was $137 for the years ended December 31, 2013, 2012 and 2011. The following table shows the estimated future amortization expense for amortizable intangible assets based on existing asset balances and the interest rate environment as of December 31, 2013. The Corporation’s actual amortization expense in any given period may be significantly different from the estimated amounts depending upon the addition of new intangible assets, changes in underlying deposits and market conditions. | ||||||||
Core Deposits Intangibles | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 137 | ||||||
2015 | 137 | |||||||
2016 | 137 | |||||||
2017 | 46 | |||||||
Securities
Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Securities | ' | |||||||||||||||||||||||
Securities | ||||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair values of securities at December 31, 2013 and 2012 follows: | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 71,851 | $ | — | $ | (6,463 | ) | $ | 65,388 | |||||||||||||||
Mortgage backed securities | 94,313 | 1,362 | (1,245 | ) | 94,430 | |||||||||||||||||||
Collateralized mortgage obligations | 18,650 | 255 | (250 | ) | 18,655 | |||||||||||||||||||
State and political subdivisions | 32,521 | 1,137 | (693 | ) | 32,965 | |||||||||||||||||||
Preferred securities | 4,684 | — | — | 4,684 | ||||||||||||||||||||
Total Securities | $ | 222,019 | $ | 2,754 | $ | (8,651 | ) | $ | 216,122 | |||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 36,868 | $ | 102 | $ | — | $ | 36,970 | ||||||||||||||||
Mortgage backed securities | 109,440 | 2,589 | (328 | ) | 111,701 | |||||||||||||||||||
Collateralized mortgage obligations | 22,483 | 398 | — | 22,881 | ||||||||||||||||||||
State and political subdivisions | 29,980 | 2,241 | (10 | ) | 32,211 | |||||||||||||||||||
Total Securities | $ | 198,771 | $ | 5,330 | $ | (338 | ) | $ | 203,763 | |||||||||||||||
U.S. Government agencies and corporations include callable and bullet agency issues and agency-backed mortgage backed securities. The maturity of mortgage backed securities is shown based on contractual maturity of the security although repayments occur each year. | ||||||||||||||||||||||||
The amortized cost and fair value of available for sale debt securities by contractual maturity date at December 31, 2013 is provided in the following table. Mortgage backed securities are not due at a single maturity date and are therefore shown separately. | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost | Fair | |||||||||||||||||||||||
Value | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 21,419 | $ | 20,587 | ||||||||||||||||||||
Due from one year to five years | 57,306 | 53,363 | ||||||||||||||||||||||
Due from five years to ten years | 24,738 | 23,583 | ||||||||||||||||||||||
Due after ten years | 5,593 | 5,504 | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations | 112,963 | 113,085 | ||||||||||||||||||||||
$ | 222,019 | $ | 216,122 | |||||||||||||||||||||
The following table shows the proceeds from sales of available-for-sale securities for each of the three years ended December 31. The gross realized gains and losses on those sales that have been included in earnings. Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Gross realized gains | $ | 178 | $ | 189 | $ | 832 | ||||||||||||||||||
Gross realized losses | — | — | — | |||||||||||||||||||||
Net Securities Gains | $ | 178 | $ | 189 | $ | 832 | ||||||||||||||||||
Proceeds from the sale of available for sale securities | $ | 2,272 | $ | 25,462 | $ | 36,427 | ||||||||||||||||||
The carrying value of securities pledged to secure trust deposits, public deposits, line of credit, and for other purposes required by law amounted to $154,479 and $150,197 at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
The following is a summary of securities that had unrealized losses at December 31, 2013 and 2012. The information is presented for securities that have been in an unrealized loss position for less than 12 months and for more than 12 months. At December 31, 2013, the Corporation held 53 securities with unrealized losses totaling $8,651. At December 31, 2012 there were 12 securities with unrealized losses totaling $338. There are temporary reasons why securities may be valued at less than amortized cost. Temporary reasons are that the current levels of interest rates as compared to the coupons on the securities held by the Corporation are higher and impairment is not due to credit deterioration. The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity. | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 65,388 | $ | (6,463 | ) | $ | — | $ | — | $ | 65,388 | $ | (6,463 | ) | ||||||||||
Mortgage backed securities | 28,603 | (566 | ) | 31,051 | (679 | ) | 59,654 | (1,245 | ) | |||||||||||||||
Collateralized mortgage obligations | 5,079 | (59 | ) | 4,411 | (191 | ) | 9,490 | (250 | ) | |||||||||||||||
State and political subdivisions | 9,188 | (602 | ) | 447 | (91 | ) | 9,635 | (693 | ) | |||||||||||||||
Total | $ | 108,258 | $ | (7,690 | ) | $ | 35,909 | $ | (961 | ) | $ | 144,167 | $ | (8,651 | ) | |||||||||
At December 31, 2012 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Mortgage backed securities | 44,491 | (328 | ) | — | — | 44,491 | (328 | ) | ||||||||||||||||
State and political subdivisions | 1,062 | (10 | ) | — | — | 1,062 | (10 | ) | ||||||||||||||||
Total | $ | 45,553 | $ | (338 | ) | $ | — | $ | — | $ | 45,553 | $ | (338 | ) | ||||||||||
On a quarterly basis, the Corporation performs a comprehensive security-level impairment assessment on all securities in an unrealized loss position to determine if other-than-temporary impairment ("OTTI") exists. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. For debt securities, an OTTI loss must be recognized for a debt security in an unrealized loss position if the Corporation intends to sell the security or it is more likely than not that the Corporation will be required to sell the security before recovery of its amortized cost basis. In this situation, the amount of loss recognized in income is equal to the difference between the fair value and the amortized cost basis of the individual security. If the Corporation does not expect to sell the security, the Corporation must evaluate the expected cash flows to be received to determine if a credit loss has occurred. If a credit loss is present, only the amount of impairment associated with the credit loss is recognized in income. The portion of the unrealized loss relating to other factors, such as liquidity conditions in the market or changes in market interest rates, is recorded in other comprehensive income. | ||||||||||||||||||||||||
The security-level assessment is performed on each security, regardless of the classification of the security as available for sale or held to maturity. The assessments are based on the nature of the securities, the financial condition of the issuer, the extent and duration of the securities, the extent and duration of the loss and the intent and whether Management intends to sell or it is more likely than not that it will be required to sell a security before recovery of its amortized cost basis, which may be maturity. For those securities for which the assessment shows the Corporation will recover the entire cost basis, Management does not intend to sell these securities and it is not more likely than not that the Corporation will be required to sell them before the anticipated recovery of the amortized cost basis, the gross unrealized losses are recognized in other comprehensive income, net of tax. | ||||||||||||||||||||||||
Management does not believe that the investment securities that were in an unrealized loss position as of December 31, 2013 represent an other-than-temporary impairment. Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Corporation does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Corporation will be required to sell the investment securities before recovery of their amortized cost bases, which may be at maturity. |
Transactions_with_Related_Part
Transactions with Related Parties | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Transactions with Related Parties | ' | |||||||
Transactions with Related Parties | ||||||||
The Corporation, through its subsidiary Bank, makes loans to its officers, directors and their affiliates. These loans are made on substantially the same terms and conditions as transactions with non-related parties. A comparison of loans outstanding to related parties follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Amount at beginning of year | $ | 16,255 | $ | 17,214 | ||||
New loans | 2,399 | 1,741 | ||||||
Repayments | (2,512 | ) | (2,700 | ) | ||||
Changes in directors and officers and /or affiliations, net | 238 | — | ||||||
Amount at end of year | $ | 16,380 | $ | 16,255 | ||||
The Corporation, through its subsidiary Bank, maintains deposit accounts for officers, directors and their affiliates. These deposits are made on substantially the same terms and conditions as transactions with non-related parties. The balances of deposit accounts for related parties were $10,589 and $6,975, respectively at December 31, 2013 and 2012. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | |||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ||||||||||||||||||||||||||||
The allowance for loan losses is maintained by the Corporation at a level considered by Management to be adequate to cover probable credit losses inherent in the loan portfolio. The amount of the provision for loan losses charged to operating expenses is the amount necessary, in the estimation of Management, to maintain the allowance for loan losses at an adequate level. While management’s periodic analysis of the allowance for loan losses may dictate portions of the allowance be allocated to specific problem loans, the entire amount is available for any loan charge-offs that may occur. Loan losses are charged off against the allowance when management believes that the full collectability of the loan is unlikely. Recoveries of amounts previously charged-off are credited to the allowance. | ||||||||||||||||||||||||||||
The allowance is comprised of a general allowance and a specific allowance for identified problem loans. The general allowance is determined by applying estimated loss factors to the credit exposures from outstanding loans. For residential real estate, installment and other loans, loss factors are applied on a portfolio basis. Loss factors are based on the Corporation’s historical loss experience and are reviewed for appropriateness on a quarterly basis, along with other factors affecting the collectability of the loan portfolio. These other factors include but are not limited to; changes in lending policies and procedures, including underwriting standards and collection, charge-off and recovery practices; changes in national and local economic and business conditions, including the condition of various market segments; changes in the nature and volume of the portfolio; changes in the experience, ability, and depth of lending management and staff; changes in the volume and severity of past due and classified loans, the volume of nonaccrual loans, troubled debt restructurings and other loan modifications; the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and the effect of external factors, such as legal and regulatory requirements, on the level of estimated credit losses in the Corporation’s current portfolio. Specific allowances are established for all impaired loans when management has determined that, due to identified significant conditions, it is probable that a loss will be incurred. | ||||||||||||||||||||||||||||
Activity in the allowance for loan losses by loan segment for 2013, 2012 and 2011 is summarized as follows: | ||||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Losses charged off | (2,325 | ) | (121 | ) | (754 | ) | (1,775 | ) | (678 | ) | (366 | ) | (6,019 | ) | ||||||||||||||
Recoveries | 697 | 8 | 350 | 66 | 335 | 56 | 1,512 | |||||||||||||||||||||
Provision charged to expense | 364 | (225 | ) | 256 | 2,836 | 706 | 438 | 4,375 | ||||||||||||||||||||
Balance, end of year | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 865 | $ | 73 | $ | — | $ | — | $ | — | $ | — | $ | 938 | ||||||||||||||
Collectively evaluated for impairment | 9,257 | 424 | 1,411 | 3,484 | 1,593 | 398 | 16,567 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 17,842 | $ | 472 | $ | 1,731 | $ | 1,111 | $ | 195 | $ | 160 | $ | 21,511 | ||||||||||||||
Collectively evaluated for impairment | 383,749 | 88,174 | 64,776 | 121,965 | 206,128 | 15,996 | 880,788 | |||||||||||||||||||||
Total ending loans balance | $ | 401,591 | $ | 88,646 | $ | 66,507 | $ | 123,076 | $ | 206,323 | $ | 16,156 | $ | 902,299 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Losses charged off | (3,199 | ) | (213 | ) | (1,430 | ) | (1,372 | ) | (963 | ) | (401 | ) | (7,578 | ) | ||||||||||||||
Recoveries | 388 | 45 | 96 | 35 | 288 | 58 | 910 | |||||||||||||||||||||
Provision charged to expense | 3,483 | (406 | ) | 1,562 | 1,405 | 1,014 | 184 | 7,242 | ||||||||||||||||||||
Balance, end of year | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,449 | $ | 209 | $ | 15 | $ | — | $ | — | $ | — | $ | 1,673 | ||||||||||||||
Collectively evaluated for impairment | 9,937 | 626 | 1,544 | 2,357 | 1,230 | 270 | 15,964 | |||||||||||||||||||||
Total ending allowance balance | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 23,321 | $ | 597 | $ | 1,790 | $ | 398 | $ | — | $ | 61 | $ | 26,167 | ||||||||||||||
Collectively evaluated for impairment | 390,684 | 68,108 | 63,193 | 122,432 | 199,924 | 12,040 | 856,381 | |||||||||||||||||||||
Total ending loans balance | $ | 414,005 | $ | 68,705 | $ | 64,983 | $ | 122,830 | $ | 199,924 | $ | 12,101 | $ | 882,548 | ||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 11,127 | $ | 1,317 | $ | 805 | $ | 1,512 | $ | 904 | $ | 471 | $ | 16,136 | ||||||||||||||
Losses charged off | (5,195 | ) | (262 | ) | (1,664 | ) | (1,895 | ) | (695 | ) | (398 | ) | (10,109 | ) | ||||||||||||||
Recoveries | 280 | 42 | 22 | 62 | 209 | 68 | 683 | |||||||||||||||||||||
Provision charged to expense | 4,502 | 312 | 2,168 | 2,610 | 473 | 288 | 10,353 | |||||||||||||||||||||
Balance, end of year | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,747 | $ | 148 | $ | 37 | $ | — | $ | — | $ | — | $ | 3,932 | ||||||||||||||
Collectively evaluated for impairment | 6,967 | 1,261 | 1,294 | 2,289 | 891 | 429 | 13,131 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 31,746 | $ | 705 | $ | 1,141 | $ | — | $ | — | $ | — | $ | 33,592 | ||||||||||||||
Collectively evaluated for impairment | 350,106 | 75,865 | 63,383 | 126,958 | 180,089 | 13,095 | 809,496 | |||||||||||||||||||||
Total ending loans balance | $ | 381,852 | $ | 76,570 | $ | 64,524 | $ | 126,958 | $ | 180,089 | $ | 13,095 | $ | 843,088 | ||||||||||||||
Delinquencies | ||||||||||||||||||||||||||||
Management monitors delinquency and potential problem loans. Bank-wide delinquency at December 31, 2013 was 1.69% of total loans. Total 30-59 day delinquency and 60-89 day delinquency was 0.26% and 0.19% of total loans at December 31, 2013, respectively. Bank-wide delinquency at December 31, 2012 was 2.89% of total loans. Total 30-59 day delinquency and 60-89 day delinquency was 0.61% and 0.32% of total loans at December 31, 2012, respectively. Information regarding delinquent loans as of December 31, 2013 and December 31, 2012 is as follows: | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Greater than | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | 90 Days | Investment | |||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 525 | $ | 4 | $ | 7,401 | $ | 7,930 | $ | 393,661 | $ | 401,591 | $ | — | ||||||||||||||
Commercial | — | 18 | 219 | 237 | 88,409 | 88,646 | — | |||||||||||||||||||||
Residential real estate | 347 | 960 | 2,252 | 3,559 | 62,948 | 66,507 | 158 | |||||||||||||||||||||
Home equity loans | 932 | 707 | 1,078 | 2,717 | 120,359 | 123,076 | 43 | |||||||||||||||||||||
Indirect | 332 | 30 | 23 | 385 | 205,938 | 206,323 | ||||||||||||||||||||||
Consumer | 183 | 25 | 191 | 399 | 15,757 | 16,156 | — | |||||||||||||||||||||
Total | $ | 2,319 | $ | 1,744 | $ | 11,164 | $ | 15,227 | $ | 887,072 | $ | 902,299 | $ | 201 | ||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Greater than | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | 90 Days | Investment | |||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 3,681 | $ | 1,004 | $ | 12,398 | $ | 17,083 | $ | 396,922 | $ | 414,005 | $ | — | ||||||||||||||
Commercial | — | — | 376 | 376 | 68,329 | 68,705 | — | |||||||||||||||||||||
Residential real estate | 394 | 1,094 | 2,827 | 4,315 | 60,668 | 64,983 | 184 | |||||||||||||||||||||
Home equity loans | 630 | 494 | 1,510 | 2,634 | 120,196 | 122,830 | — | |||||||||||||||||||||
Indirect | 645 | 227 | 69 | 941 | 198,983 | 199,924 | ||||||||||||||||||||||
Consumer | 26 | 40 | 123 | 189 | 11,912 | 12,101 | — | |||||||||||||||||||||
Total | $ | 5,376 | $ | 2,859 | $ | 17,303 | $ | 25,538 | $ | 857,010 | $ | 882,548 | $ | 184 | ||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||
A loan is considered impaired when it is probable that not all principal and interest amounts will be collected according to the loan contract. Residential mortgage, installment and other consumer loans are evaluated collectively for impairment. Individual commercial loans are evaluated for impairment. Impaired loans are written down by the establishment of a specific allowance where necessary. Interest income recognized on impaired loans while the loan was considered impaired was immaterial for all periods. | ||||||||||||||||||||||||||||
Impaired loans for the Period Ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,530 | $ | 20,438 | $ | — | $ | 16,705 | ||||||||||||||||||||
Commercial | 214 | 267 | — | 186 | ||||||||||||||||||||||||
Residential real estate | 1,731 | 1,940 | — | 1,832 | ||||||||||||||||||||||||
Home equity loans | 1,111 | 1,623 | — | 847 | ||||||||||||||||||||||||
Indirect | 195 | 268 | — | 178 | ||||||||||||||||||||||||
Consumer | 160 | 204 | — | 111 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 2,312 | 2,319 | 865 | 4,374 | ||||||||||||||||||||||||
Commercial | 258 | 258 | 73 | 346 | ||||||||||||||||||||||||
Residential real estate | — | — | — | — | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 21,511 | $ | 27,317 | $ | 938 | $ | 24,579 | ||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,378 | $ | 20,086 | $ | — | $ | 9,945 | ||||||||||||||||||||
Commercial | 138 | 138 | — | 207 | ||||||||||||||||||||||||
Residential real estate | 1,610 | 1,686 | — | 1,187 | ||||||||||||||||||||||||
Home equity loans | 398 | 398 | — | 100 | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | 61 | 61 | — | 15 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 7,942 | 9,876 | 1,449 | 16,571 | ||||||||||||||||||||||||
Commercial | 459 | 459 | 209 | 251 | ||||||||||||||||||||||||
Residential real estate | 181 | 1,452 | 15 | 106 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 26,167 | $ | 34,156 | $ | 1,673 | $ | 28,382 | ||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 12,585 | $ | 20,138 | $ | — | $ | 14,805 | ||||||||||||||||||||
Commercial | 386 | 386 | — | 419 | ||||||||||||||||||||||||
Residential real estate | 1,069 | 1,897 | — | 1,470 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 19,161 | 19,823 | 3,747 | 18,130 | ||||||||||||||||||||||||
Commercial | 319 | 794 | 148 | 570 | ||||||||||||||||||||||||
Residential real estate | 72 | 72 | 37 | 72 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 33,592 | $ | 43,110 | $ | 3,932 | $ | 35,466 | ||||||||||||||||||||
*impaired loans shown in the table above included loans that were classified as troubled debt restructurings ("TDRs"). The restructuring of a loan is considered a TDR if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. | ||||||||||||||||||||||||||||
Troubled Debt Restructuring | ||||||||||||||||||||||||||||
A restructuring of debt constitutes a troubled debt restructuring (“TDR”) if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. That concession either stems from an agreement between the creditor and the debtor or is imposed by law or a court. The Corporation adheres to ASC 310-40, Troubled Debt Restructurings by Creditors, to determine whether a troubled debt restructuring applies in a particular instance. Prior to loans being modified and classified as a TDR, specific reserves are generally assessed, as most these loans have been specifically allocated for as part of the Corporation's normal loan loss provisioning methodology. The Corporation allocated no reserves for the TDR loans at December 31, 2013. | ||||||||||||||||||||||||||||
The following table summarizes the loans that were modified as a TDR during the period ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||||||
Commercial real estate | 3 | $93 | $93 | |||||||||||||||||||||||||
Residential real estate | 3 | $236 | $236 | |||||||||||||||||||||||||
Home equity loans | 15 | $774 | $774 | |||||||||||||||||||||||||
Indirect Loans | 25 | $195 | $195 | |||||||||||||||||||||||||
Consumer Loans | 3 | $34 | $34 | |||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||||||
Commercial real estate | 7 | $5,595 | $5,114 | |||||||||||||||||||||||||
Residential real estate | 11 | $1,167 | $1,167 | |||||||||||||||||||||||||
Home equity loans | 8 | $398 | $398 | |||||||||||||||||||||||||
Consumer Loans | 1 | $61 | $61 | |||||||||||||||||||||||||
There were no loans modified in a TDR during 2013 that subsequently defaulted (i.e., 90 days or more past due following a modification). | ||||||||||||||||||||||||||||
A modification of a loan constitutes a TDR when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Corporation offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Commercial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor may be requested. Commercial mortgage and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. Land loans are also included in the class of commercial real estate loans. Land loans are typically structured as interest-only monthly payments with a balloon payment due at maturity. Land loans modified in a TDR typically involve extending the balloon payment by one to three years and changing the monthly payments from interest-only to principal and interest, while leaving the interest rate unchanged. | ||||||||||||||||||||||||||||
Loans modified in a TDR are typically already on nonaccrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR for the Corporation may have the financial effect of increasing the specific allowance associated with the loan. The allowance for impaired loans that have been modified in a TDR is measured based on the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent or on the present value of expected future cash flows discounted at the loan’s effective interest rate. Management exercises significant judgment in developing these estimates. | ||||||||||||||||||||||||||||
The regulatory guidance requires loans to be accounted for as collateral-dependent loans when borrowers have filed Chapter 7 bankruptcy, the debt has been discharged and the borrower has not reaffirmed the debt, regardless of the delinquency status of the loan. The filing of bankruptcy by the borrower is evidence of financial difficulty and the discharge of the obligation by the bankruptcy court is deemed to be a concession granted to the borrower. | ||||||||||||||||||||||||||||
At December 31, 2013 the Corporation had approximately $628 of additional commitments to lend additional funds to the related debtors whose terms have been modified in a TDR. | ||||||||||||||||||||||||||||
Nonaccrual Loans | ||||||||||||||||||||||||||||
Nonaccrual loan balances at December 31, 2013 and December 31, 2012 are as follows: | ||||||||||||||||||||||||||||
Loans On Non-Accrual Status | December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Commercial real estate | $ | 11,241 | $ | 16,349 | ||||||||||||||||||||||||
Commercial | 289 | 472 | ||||||||||||||||||||||||||
Residential real estate | 5,231 | 5,622 | ||||||||||||||||||||||||||
Home equity loans | 4,464 | 4,293 | ||||||||||||||||||||||||||
Indirect | 443 | 711 | ||||||||||||||||||||||||||
Consumer | 318 | 349 | ||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 21,986 | $ | 27,796 | ||||||||||||||||||||||||
Credit Risk Grading | ||||||||||||||||||||||||||||
Sound credit systems, practices and procedures such as credit risk grading systems; effective credit review and examination processes; effective loan monitoring, problem identification, and resolution processes; and a conservative loss recognition process and charge-off policy are integral to management’s proper assessment of the adequacy of the allowance. Many factors are considered when grades are assigned to individual loans such as current and historic delinquency, financial statements of the borrower, current net realizable value of collateral and the general economic environment and specific economic trends affecting the portfolio. Commercial, commercial real estate and residential construction loans are assigned internal credit risk grades. The loan’s internal credit risk grade is reviewed on at least an annual basis and more frequently if needed based on specific borrower circumstances. Credit quality indicators used in management’s periodic analysis of the adequacy of the allowance include the Corporation’s internal credit risk grades which are described below and are included in the table below for December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||
• | Grades 1 -5: defined as “Pass” credits — loans which are protected by the borrower’s current net worth and paying capacity or by the value of the underlying collateral. Pass credits are current or have not displayed a significant past due history. | |||||||||||||||||||||||||||
• | Grade 6: defined as “Special Mention” credits — loans where a potential weakness or risk exists, which could cause a more serious problem if not monitored. Loans listed for special mention generally demonstrate a history of repeated delinquencies, which may indicate a deterioration of the repayment abilities of the borrower. | |||||||||||||||||||||||||||
• | Grade 7: defined as “Substandard” credits — loans that have a well-defined weakness based on objective evidence and are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||
• | Grade 8: defined as “Doubtful” credits — loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable. | |||||||||||||||||||||||||||
• | Grade 9: defined as “Loss” credits — loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. | |||||||||||||||||||||||||||
For the residential real estate segment, the Corporation monitors credit quality using a combination of the delinquency status of the loan and/or the Corporation’s internal credit risk grades as indicated above. | ||||||||||||||||||||||||||||
The following table presents the recorded investment of commercial real estate, commercial and residential real estate loans by internal credit risk grade and the recorded investment of residential real estate, home equity, indirect and consumer loans based on delinquency status as of December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 52 | $ | — | $ | — | $ | — | $ | — | $ | 52 | ||||||||||||||
Grade 2 — Modest | — | 37 | — | — | — | — | 37 | |||||||||||||||||||||
Grade 3 — Better than average | 857 | — | — | — | — | — | 857 | |||||||||||||||||||||
Grade 4 — Average | 22,580 | 271 | 613 | — | — | — | 23,464 | |||||||||||||||||||||
Grade 5 — Acceptable | 352,781 | 84,979 | 5,589 | — | — | — | 443,349 | |||||||||||||||||||||
Total Pass Credits | 376,218 | 85,339 | 6,202 | — | — | — | 467,759 | |||||||||||||||||||||
Grade 6 — Special mention | 2,146 | 2,891 | 35 | — | — | — | 5,072 | |||||||||||||||||||||
Grade 7 — Substandard | 23,227 | 416 | 625 | — | — | — | 24,268 | |||||||||||||||||||||
Grade 8 — Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 401,591 | 88,646 | 6,862 | — | — | — | 497,099 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 56,390 | 120,359 | 205,938 | 15,757 | 398,444 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 64 | 932 | 332 | 183 | 1,511 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 960 | 707 | 30 | 25 | 1,722 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 2,231 | 1,078 | 23 | 191 | 3,523 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 59,645 | 123,076 | 206,323 | 16,156 | 405,200 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 401,591 | $ | 88,646 | $ | 66,507 | $ | 123,076 | $ | 206,323 | $ | 16,156 | $ | 902,299 | ||||||||||||||
* | Residential loans with an internal commercial credit risk grade include loans that are secured by non-owner occupied 1-4 family residential properties and conventional 1-4 family residential properties. | |||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 114 | $ | — | $ | — | $ | — | $ | — | $ | 114 | ||||||||||||||
Grade 2 — Modest | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 3 — Better than average | 1,100 | 6 | — | — | — | — | 1,106 | |||||||||||||||||||||
Grade 4 — Average | 30,604 | 4,547 | 626 | — | — | — | 35,777 | |||||||||||||||||||||
Grade 5 — Acceptable | 342,067 | 60,023 | 5,584 | — | — | — | 407,674 | |||||||||||||||||||||
Total Pass Credits | 373,771 | 64,690 | 6,210 | — | — | — | 444,671 | |||||||||||||||||||||
Grade 6 — Special mention | 12,201 | 3,394 | 42 | — | — | — | 15,637 | |||||||||||||||||||||
Grade 7 — Substandard | 27,268 | 621 | 1,468 | — | — | — | 29,357 | |||||||||||||||||||||
Grade 8 — Doubtful | 765 | — | — | — | — | — | 765 | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 414,005 | 68,705 | 7,720 | — | — | — | 490,430 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 54,416 | 120,196 | 198,983 | 11,912 | 385,507 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 394 | 630 | 645 | 26 | 1,695 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 1,094 | 494 | 227 | 40 | 1,855 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 1,359 | 1,510 | 69 | 123 | 3,061 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 57,263 | 122,830 | 199,924 | 12,101 | 392,118 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 414,005 | $ | 68,705 | $ | 64,983 | $ | 122,830 | $ | 199,924 | $ | 12,101 | $ | 882,548 | ||||||||||||||
* Residential loans with an internal commercial credit risk grade include loans that are secured by non-owner occupied 1-4 family residential properties and conventional 1-4 family residential properties. | ||||||||||||||||||||||||||||
The Corporation adheres to underwriting standards consistent with its Loan Policy for indirect and consumer loans. Final approval of a consumer credit depends on the repayment ability of the borrower. Repayment ability generally requires the determination of the borrower’s capacity to meet current and proposed debt service requirements. A borrower’s repayment ability is monitored based on delinquency, generally for time periods of 30 to 59 days past due, 60 to 89 days past due and greater than 90 days past due. This information is provided in the above past due loans table. |
Bank_Premises_Equipment_and_Le
Bank Premises, Equipment and Leases | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Bank Premises, Equipment and Leases | ' | |||||||
Bank Premises, Equipment and Leases | ||||||||
Bank premises and equipment are summarized as follows: | ||||||||
At December 31 | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Land | $ | 2,452 | $ | 2,452 | ||||
Buildings | 11,422 | 11,373 | ||||||
Equipment | 14,990 | 14,706 | ||||||
Purchased software | 4,739 | 4,722 | ||||||
Leasehold improvements | 1,088 | 1,088 | ||||||
Total cost | $ | 34,691 | $ | 34,341 | ||||
Less: accumulated depreciation and amortization | 26,493 | 25,620 | ||||||
Net bank premises and equipment | $ | 8,198 | $ | 8,721 | ||||
Depreciation of Bank premises and equipment charged to noninterest expense amounted to $845 in 2013, $887 in 2012 and $1,032 in 2011. Amortization of purchased software charged to noninterest expense amounted to $169 in 2013, $260 in 2012 and $196 in 2011. | ||||||||
The Bank is obligated under various non-cancelable operating leases on certain Bank premises and equipment. Minimum future payments under non-cancelable operating leases at December 31, 2013 are as follows: | ||||||||
Amount | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 782 | ||||||
2015 | 724 | |||||||
2016 | 559 | |||||||
2017 | 298 | |||||||
2018 | 254 | |||||||
2019 and thereafter | 556 | |||||||
Total | $ | 3,173 | ||||||
Rentals paid under leases on Corporation premises and equipment amounted to $1,000 in 2013, $1,040 in 2012 and $977 in 2011. |
Deposits
Deposits | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Deposits | ' | |||||||
Deposits | ||||||||
Deposit balances are summarized as follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Demand and other noninterest-bearing | $ | 148,961 | $ | 139,894 | ||||
Interest checking | 164,662 | 155,248 | ||||||
Savings | 125,582 | 119,247 | ||||||
Money market accounts | 103,534 | 102,792 | ||||||
Consumer time deposits | 382,137 | 386,549 | ||||||
Public time deposits | 120,713 | 95,862 | ||||||
Total deposits | $ | 1,045,589 | $ | 999,592 | ||||
The aggregate amount of certificates of deposit in denominations of $100,000 or more amounted to $293,330 and $253,464 at December 31, 2013 and 2012, respectively. | ||||||||
The maturity distribution of time deposits as of December 31, 2013 follows: | ||||||||
December 31, 2013 | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 337,867 | ||||||
2015 | 111,728 | |||||||
2016 | 37,374 | |||||||
2017 | 11,937 | |||||||
2018 | 3,944 | |||||||
Total | $ | 502,850 | ||||||
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Disclosure Short Term Borrowings Additional Information [Abstract] | ' | |||||||||
Short-Term Borrowings | ' | |||||||||
Short-Term Borrowings | ||||||||||
The Bank has a line of credit for advances and discounts with the Federal Reserve Bank of Cleveland. The amount of this line of credit varies on a monthly basis. The credit available under the line is equal to 50% of the balances of qualified home equity lines of credit that are pledged as collateral. At December 31, 2013, the Bank had pledged approximately $87,948 in qualifying home equity lines of credit, resulting in an available line of credit of approximately $43,974. No amounts were outstanding under the line of credit at December 31, 2013 or December 31, 2012. The Corporation also has a $6,000 line of credit with an unaffiliated financial institution of which $3,000 was used at a rate of 3.50% as of December 31, 2013. | ||||||||||
Short-term borrowings include securities sold under repurchase agreements and Federal funds purchased from correspondent banks. At December 31, 2013 and 2012, the outstanding balance of securities sold under repurchase agreements totaled $1,576 and $1,115, respectively. No Federal funds were purchased as of December 31, 2013 and 2012. | ||||||||||
The following table presents the components of federal funds purchased and securities sold under agreements to repurchase and short-term borrowings: | ||||||||||
As of December 31, | ||||||||||
2013 | 2012 | |||||||||
Federal funds purchased and securities sold under agreements to repurchase | $ | 1,576 | $ | 1,115 | ||||||
Line of credit with an unaffiliated financial institution | 3,000 | — | ||||||||
Total short-term borrowings | $ | 4,576 | $ | 1,115 | ||||||
Selected financial statement information pertaining to short-term borrowings is as follows: | ||||||||||
Short-term borrowings | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Average balance during the year | $ | 1,803 | $ | 784 | ||||||
Weighted-average annual interest rate during the year | 0.1 | % | 0.12 | % | ||||||
Maximum month-end balance | $ | 4,576 | $ | 1,408 | ||||||
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Disclosure Federal Home Loan Bank Advances Additional Information [Abstract] | ' | |||||||
Federal Home Loan Bank Advances | ' | |||||||
Federal Home Loan Bank Advances | ||||||||
Federal Home Loan Bank advances amounted to $46,708 and $46,508 at December 31, 2013 and December 31, 2012 respectively. All advances were bullet maturities with no call features. At December 31, 2013, collateral pledged for FHLB advances consisted of qualified multi-family and residential real estate mortgage loans and investment securities of $89,554 and $16,845, respectively. The maximum borrowing capacity of the Bank at December 31, 2013 was $73,819. The Bank maintains a $40,000 cash management line of credit (CMA) with the FHLB. No amounts were outstanding for the CMA line of credit at December 31, 2013 and December 31, 2012. | ||||||||
Maturities of FHLB advances outstanding at December 31, 2013 and 2012 are as follows: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Maturity January 2014 with fixed rate 3.55% | $ | 1 | $ | 15 | ||||
Maturity January 2015 with fixed rate 0.80% | 20,000 | 20,000 | ||||||
Maturity December 2016 with fixed rate 0.79% | 10,000 | 10,000 | ||||||
Maturities June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% | 15,000 | 15,000 | ||||||
Maturity June 2018 fixed rate 1.24% | 2,500 | 2,500 | ||||||
Restructuring prepayment penalty | (793 | ) | (1,007 | ) | ||||
Total FHLB advances | $ | 46,708 | $ | 46,508 | ||||
In 2012, the Corporation prepaid $27,500 of fixed rate FHLB advances with a contractual average interest rate of 2.47% and a remaining maturity of 12 to 31 months. The prepaid FHLB advances were replaced with $27,500 of fixed rate FHLB advances with a contractual average interest rate of 0.88% and terms of 49 to 67 months. In accordance with the restructure, the Corporation was required to pay a prepayment penalty of $1,017 to the FHLB. The present value of the cash flows under the terms of the new FHLB advances (including the prepayment penalties) were not more than 10% different from the present value of the cash flows under the terms of the prepaid FHLB advances and therefore the new advances were not considered to be substantially different from the original advances in accordance with ASC 470-50, Debt – Modifications and Exchanges. As a result, the prepayment penalties have been treated as a discount on the new debt and are being amortized over the life of the new advances as an adjustment to rate. The prepayment penalty effectively increases the interest rate on the new advances over the lives of the new advances at the time of the transaction. The benefit of prepaying these advances was an immediate decrease in interest expense and a decrease in interest rate sensitivity as the maturity of each of the refinanced FHLB advances was extended at a lower rate. | ||||||||
At December 31, 2013, the advances were structured to contractually pay down as follows: | ||||||||
Balance | Weighted Average Rate | |||||||
2014 | $ | 1 | —% | |||||
2015 | 20,000 | 0.8 | ||||||
2016 | 10,000 | 0.79 | ||||||
2017 | 15,000 | 0.96 | ||||||
2018 | 2,500 | 1.24 | ||||||
Thereafter | — | — | ||||||
Total | $ | 47,501 | 0.87% | |||||
Restructuring prepayment penalty | (793 | ) | ||||||
Total | $ | 46,708 | ||||||
Trust_Preferred_Securities
Trust Preferred Securities | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Trust Preferred Securities Additional Information [Abstract] | ' |
Trust Preferred Securities | ' |
Trust Preferred Securities | |
In May 2007, LNB Trust I (“Trust I”) and LNB Trust II (“Trust II”) each sold $10.0 million of preferred securities to outside investors and invested the proceeds in junior subordinated debentures issued by the Corporation. The Corporation’s obligations under the transaction documents, taken together, have the effect of providing a full guarantee by the Corporation, on a subordinated basis, of the payment obligation of the Trusts. | |
The subordinated notes mature in 2037. Trust I bears a floating interest rate (current three-month LIBOR plus 148 basis points). Trust II bears a fixed rate of 6.64% through June 15, 2017, and then becomes a floating interest rate (current three-month LIBOR plus 148 basis points). Interest on the notes is payable quarterly. The interest rates in effect as of the last determination date in 2012 were 1.72% and 6.64% for Trust I and Trust II, respectively. At December 31, 2013 and December 31, 2012, accrued interest payable for Trust I was $6 and $5 and for Trust II was $22 and $21, respectively. | |
The subordinated notes are redeemable in whole or in part, without penalty, at the Corporation’s option on or after June 15, 2012 and mature on June 15, 2037. The notes are junior in right of payment to the prior payment in full of all senior indebtedness of the Corporation, whether outstanding at the date of the indenture governing the notes or thereafter incurred. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The provision for income taxes consists of the following: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Income Taxes: | ||||||||||||
Federal current expense | $ | 1,070 | $ | 1,562 | $ | 1,199 | ||||||
Federal deferred expense (benefit) | 856 | 372 | (43 | ) | ||||||||
Total Income Tax expense | $ | 1,926 | $ | 1,934 | $ | 1,156 | ||||||
The following presents a reconciliation of income taxes as shown on the Consolidated Statements of Income with that which would be computed by applying the statutory Federal tax rate of 34% to income (loss) before taxes in 2013, 2012 and 2011. | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Computed “expected” tax expense | $ | 2,750 | $ | 2,734 | $ | 2,094 | ||||||
Increase (reduction) in income taxes resulting from: | ||||||||||||
Tax exempt interest on obligations of state and political subdivisions | (483 | ) | (451 | ) | (404 | ) | ||||||
Tax exempt interest on bank owned life insurance | (212 | ) | (210 | ) | (203 | ) | ||||||
New markets tax credit | (59 | ) | (208 | ) | (270 | ) | ||||||
Other, net | (70 | ) | 69 | (61 | ) | |||||||
Total Income Tax Expense | $ | 1,926 | $ | 1,934 | $ | 1,156 | ||||||
Management monitors changes in tax statutes and regulations and the issuance of judicial decisions to determine the potential impact to uncertain income tax positions. During 2013 and 2012 there were no material uncertain income tax positions. At December 31, 2013 and December 31, 2012, the Corporation had no unrecognized tax benefits recorded. The Corporation does not expect the amount of unrecognized tax benefits to significantly change within the next twelve months. During 2013, 2012 and 2011 there were no material uncertain income tax positions. | ||||||||||||
Net deferred Federal tax assets are included in other assets on the consolidated Balance Sheets. Management believes that it is more likely than not that the deferred Federal tax assets will be realized. At December 31, 2013 and 2012 there was no valuation allowance required. The tax effects of temporary differences that give rise to significant portions of the deferred Federal tax assets and deferred Federal tax liabilities are presented below. | ||||||||||||
At December 31 | ||||||||||||
2013 | 2012 | |||||||||||
(Dollars in thousands) | ||||||||||||
Deferred Federal tax assets: | ||||||||||||
Allowance for loan losses | $ | 5,952 | $ | 5,996 | ||||||||
Deferred compensation | 729 | 420 | ||||||||||
Minimum pension liability | 668 | 1,059 | ||||||||||
Equity based compensation | 225 | 228 | ||||||||||
Accrued loan fees and costs | 295 | 314 | ||||||||||
New Market Tax Credit and AMT Credit Carryforward | — | 335 | ||||||||||
Non-accrual loan interest | 884 | 1,126 | ||||||||||
Mark-to-market adjustments | 1 | 75 | ||||||||||
Net unrealized loss on securities available for sale | 2,005 | — | ||||||||||
Other deferred tax assets | 251 | 179 | ||||||||||
Total deferred Federal tax assets | 11,010 | 9,732 | ||||||||||
Deferred Federal tax liabilities: | ||||||||||||
Net unrealized gain on securities available for sale | — | (1,698 | ) | |||||||||
FHLB stock dividends | (254 | ) | (255 | ) | ||||||||
Intangible asset amortization | (1,079 | ) | (1,118 | ) | ||||||||
Accretion | (250 | ) | (238 | ) | ||||||||
Deferred charges | (213 | ) | (182 | ) | ||||||||
FHLB restructure | (270 | ) | (342 | ) | ||||||||
Prepaid pension | (901 | ) | (969 | ) | ||||||||
Other deferred tax liabilities | (540 | ) | (274 | ) | ||||||||
Total deferred Federal tax liabilities | (3,507 | ) | (5,076 | ) | ||||||||
Net deferred Federal tax assets | $ | 7,503 | $ | 4,656 | ||||||||
The Corporation’s income tax returns are subject to review and examination by federal and state taxing authorities. The Corporation is no longer subject to examination by the federal taxing authority for years prior to 2011. Tax years 2011 and later remain open to examination by the federal taxing authority. |
Shareholders_Equity_Notes
Shareholders' Equity (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Shareholders' Equity [Abstract] | ' |
Stockholders' Equity | ' |
Shareholders’ Equity | |
Preferred Stock | |
The Corporation is authorized to issue up to 1,000,000 shares of Voting Preferred Stock, no par value. The Board of Directors of the Corporation is authorized to provide for the issuance of one or more series of Voting Preferred Stock and establish the dividend rate, dividend dates, whether dividends are cumulative, liquidation prices, redemption rights and prices, sinking fund requirements, conversion rights, and restrictions on the issuance of any series of Voting Preferred Stock. The Voting Preferred Stock may rank prior to the common stock in dividends, liquidation preferences, or both. The Corporation has authorized 150,000 Series A Voting Preferred Shares, none of which have been issued. As of December 31, 2013 and 2012, 7,689 and 18,880 shares of the Corporation’s Series B Preferred Stock were issued and outstanding. | |
On December 12, 2008, the Corporation issued 25,223 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series B, $1,000 per share liquidation preference (“Series B Preferred Stock”) to the U.S. Department of the Treasury (the "Treasury")in the TARP Capital Purchase Program for a purchase price of approximately $25,223. Holders of the shares of Series B Preferred Stock are entitled to receive if, as and when declared by our Board of Directors or duly authorized committee of the Board, out of assets legally available for payment, cumulative cash dividends at a rate per annum of 5% per share on liquidation preference of $1,000 per share of Series B Preferred Stock with respect to each dividend period. From and after February 15, 2014, holders of Series B Preferred Stock are entitled to receive cumulative cash dividends at a rate per annum of 9% per share on a liquidation preference of $1,000 per Series B Preferred Stock. In connection with that issuance, the Corporation also issued a warrant to the Treasury to purchase 561,343 common shares of the Corporation at an exercise price of $6.74 per share (the “Warrant”). | |
Dividends are payable quarterly in arrears on each February 15th, May 15th, August 15th and November 15th on shares of Series B Preferred Stock. Dividends payable during any dividend period are computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends payable with respect to the Series B Preferred Stock are payable to holders of record of shares of Series B Preferred Stock on the date that is 15 calendar days immediately preceding the applicable dividend payment date or such other record date as the board of directors or any duly authorized committee of the board determines, so long as such record date is not more than 60 nor less than 10 days prior to the applicable dividend payment date. | |
As part of the Treasury’s strategy for winding down its remaining investment in the Troubled Asset Relief Program (TARP), particularly in community banks, the Treasury conducted various public auctions of TARP preferred stock in 2012. On June 19, 2012 the Treasury completed the offer and sale of all 25,223 shares of the Corporation's Series B Preferred Stock. The underwriters in the offering purchased the Series B Preferred Stock from the U.S. Department of Treasury at a price of $856.13 per share. The shares were subsequently sold to the public through a modified Dutch auction at an initial public offering price of $869.17 per share. The Corporation did not receive any of the proceeds from the offering. | |
During the third quarter 2012, the Corporation entered into a Warrant Repurchase Agreement to purchase the Warrant issued. The Warrant was immediately exercisable for 561,343 shares of the Corporation's common shares at an exercise price of $6.74 per common share. The Warrant was transferrable and could be exercised at any time on or before July 2, 2012. The Corporation negotiated a repurchase of Warrants at a mutually agreed upon price of $1.53 per share, or $860 with the Treasury. The repurchase of the Warrant occurred in July 2012 and reduced equity by the amount of the purchase price. Following settlement of the Warrant repurchase, the Treasury had no remaining investment in the Corporation. | |
In the fourth quarter of 2012, the Corporation completed the repurchase of $6,343 in face liquidation amount, or approximately 25% of the outstanding shares, of its Series B Preferred Stock in exchange for cash at a price representing a discount to par value. The transaction was funded by cash from accumulated earnings and excess capital. As a result of the discount on the purchase price, the Corporation recognized an increase to retained earnings of $163. As of December 31, 2012, 18,880 shares of the Corporation’s Series B Preferred Stock remained issued and outstanding. | |
On March 15, 2013, the Corporation completed the exchange (the “Exchange”) of newly issued Common Shares, $1.00 par value per share, of the Company (“Common Shares”) for shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series B, $1,000 per share liquidation preference (“Series B Preferred Stock”) with certain institutional and private investors (the "Sellers"). In the Exchange, the Corporation issued an aggregate of 1,359,348 Common Shares at a price of $7.16 per share to the Sellers in exchange for an aggregate of 9,733 shares of Series B Preferred Stock at a price of 100% of the per share liquidation preference, or $1,000 per share. The Corporation also delivered cash to the Sellers in lieu of fractional Common Shares and cash in an amount equal to the accrued and unpaid dividends due on the shares of Series B Preferred Stock. Following the completion of the Exchange, an aggregate of 9,147 shares of the Series B Preferred Stock remained outstanding. | |
On December 12, 2013, the Corporation entered into a common shares purchase agreement (the “Purchase Agreement”) with certain investors party thereto (the “Investors”), which included certain third-party investors and certain directors of the Corporation. The transactions were approved by the Board of Directors of the Corporation, by a majority of the disinterested directors of the Corporation and by the Corporation’s Audit and Finance Committee. Pursuant to the Purchase Agreement, the Corporation sold to the Investors an aggregate of 367,321 Common Shares at a purchase price of $9.9087 per share (except that Investors who are directors of the Corporation or are related thereto paid $10.30 per share), for an aggregate purchase price of $3.68 million. The Purchase Agreement, among other things, provided the Investors with certain registration rights, pursuant to which the Corporation filed a Registration Statement on Form S-3 with the SEC, which was declared effective on January 16, 2014. | |
Following the completion of the issuance and sale of Common Shares pursuant to the Purchase Agreement, on December 17, 2013, the Corporation issued a notice of redemption of all 9,147 remaining shares of Series B Preferred Stock, to be funded with the proceeds of the sale of Common Shares along with cash from $3,000,000 in borrowings under the Corporation’s line of credit with an unaffiliated financial institution and from the Corporation’s accumulated earnings and excess capital. On January 17, 2014, the Corporation completed the retirement of the remaining shares of Series B Preferred Stock for an aggregate price of $9,147,000, the face liquidation amount of the shares, plus approximately $74,000 of accrued but unpaid dividends. The Corporation repurchased 1,458 of such shares in a private transaction in December 2013 and redeemed the remaining 7,689 shares of Series B Preferred Stock on the January 17, 2014 redemption date. Additional information regarding the redemption of Series B Preferred Stock is included in Note 24 (Subsequent Events) in the notes to the consolidated financial statements. | |
Common Stock | |
The Corporation is authorized to issue up to 15,000,000 common shares. Common shares issued were 10,001,717 at December 31, 2013 and 8,272,548 at December 31, 2012. Common shares outstanding were 9,673,523 and 7,944,354 at December 31, 2013 and December 31, 2012, respectively. | |
Common Shares Repurchase Plan and Treasury Shares | |
On July 28, 2005, the Board of Directors authorized the repurchase of up to 5% of the outstanding common shares of the Corporation, or approximately 332,000 shares. The repurchased shares are expected to be used primarily for qualified employee benefit plans, incentive stock option plans, stock dividends and other corporate purposes. At December 31, 2013 and December 31, 2012, the Corporation held 328,194 common shares as treasury shares under this plan at a total cost of $6,092. | |
Shareholder Rights Plan | |
On October 25, 2010, the Board of Directors of the Corporation adopted a Shareholder Rights Plan which replaced the Corporation’s original rights plan adopted October 24, 2000 which expired in October 2010. The rights plan is intended to discourage a potential acquirer from exceeding a prescribed ownership level in the Corporation, without prior approval of the Board of Directors. If the prescribed level is exceeded, the rights become exercisable and, following a limited period for the Board of Directors to redeem the rights, allow shareholders, other than the potential acquirer that triggered the exercise of the rights, to purchase Preferred Share Units of the Corporation having characteristics comparable to the Corporation’s common shares, at 50% of market value. This would dilute the potential acquirer’s ownership level and voting power, potentially making an acquisition of the Corporation without prior Board approval prohibitively expensive. | |
The Shareholder Rights Plan provided for the distribution of one Preferred Share Purchase Right as a dividend on each outstanding Common Share of the Corporation held as of the close of business on November 5, 2010. One Preferred Share Purchase Right will also be distributed for each common share issued after November 5, 2010. Each right entitles the registered holder to purchase from the Corporation units of a new series of Voting Preferred Shares, no par value, at 50% of market value, if a person or group acquires 10% or more of the Corporation’s Common Shares. Each Unit of the new Preferred Shares has terms intended to make it the economic equivalent of one Common share. | |
LNBB Direct Stock Purchase and Dividend Reinvestment Plan | |
The Board of Directors adopted the LNBB Direct Stock Purchase and Dividend Reinvestment Plan (the Plan) effective June 2001, replacing the former LNB Bancorp, Inc. Dividend Reinvestment Plan. The Plan authorized the sale of 500,000 shares of the Corporation’s common shares to shareholders who choose to invest all or a portion of their cash dividends plus additional cash payments for the Corporation’s common stock. The Corporation did not issue shares pursuant to the Plan in 2013 and 9,936 shares were purchased in the open market at the market price on the date of purchase. Similarly, the Corporation did not issue shares pursuant to the Plan in 2011 while 13,795 shares were purchased in the open market at the market price on the date of purchase. | |
Dividend Restrictions | |
Dividends paid by the Bank are the primary source of funds available to the Corporation for payment of dividends to shareholders and for other working capital needs. The payment of dividends by the Bank to the Corporation is subject to restrictions by the Office of the Comptroller of Currency (OCC). These restrictions generally limit dividends to the current and prior two years’ retained earnings. In addition to these restrictions, as a practical matter, dividend payments cannot reduce regulatory capital levels below the Corporation’s regulatory capital requirements and minimum regulatory guidelines. Dividends declared and paid in 2013 were approved by the OCC prior to declaration and payment. Future dividend payments or debt issuance by the Corporation will be based on future earnings and the approval of the OCC. | |
The Corporation is subject to various regulatory policies and requirements relating to the payment of dividends, including requirements to maintain adequate capital above regulatory minimums. The Board of Governors of the Federal Reserve System, or the Federal Reserve Board, is authorized to determine, under certain circumstances relating to the financial condition of a bank holding company, such as us, that the payment of dividends would be an unsafe or unsound practice and to prohibit payment thereof. In addition, the Corporation is subject to Ohio state laws relating to the payment of dividends. |
Regulatory_Capital_Notes
Regulatory Capital (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||
Regulatory Capital | ' | |||||||||||||
Regulatory Capital | ||||||||||||||
The Corporation and the Bank are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve Board and the Office of Comptroller of Currency. These guidelines are used to evaluate capital adequacy and include required minimums as discussed below. The Corporation and the Bank are subject to the FDIC Improvement Act. The FDIC Improvement Act established five capital categories ranging from “well capitalized” to “critically undercapitalized.” These five capital categories are used by the Federal Deposit Insurance Corporation to determine prompt corrective action and an institution’s semi-annual FDIC deposit insurance premium assessments. | ||||||||||||||
Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the consolidated financial statements. | ||||||||||||||
The prompt corrective action regulations provide for five categories which in declining order are: “well capitalized,” “adequately capitalized,” “undercapitalized,” “significantly undercapitalized,” and “critically under-capitalized.” To be considered “well capitalized”, an institution must generally have a leverage capital ratio of at least five percent, a Tier I risk-based capital ratio of at least six percent, and a total risk-based capital ratio of at least ten percent. | ||||||||||||||
At December 31, 2013 and 2012, the capital ratios for the Corporation and the Bank exceeded the ratios required to be “well capitalized.” The “well capitalized” status affords the Bank the ability to operate with the greatest flexibility under current laws and regulations. The Comptroller of the Currency’s most recent notification categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. Management believes that there are no conditions or events that have arisen since that notification that have changed the Bank’s category. Analysis of the Corporation’s and the Bank’s Regulatory Capital and Regulatory Capital Requirements follows: | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Amount | Ratio | Amount | Ratio | |||||||||||
(Dollars in thousands) | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 112,795 | 12.89 | % | $ | 114,425 | 12.47 | % | ||||||
Bank | 116,064 | 12.19 | 112,150 | 12.23 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 110,815 | 11.63 | 102,877 | 11.21 | ||||||||||
Bank | 104,090 | 10.93 | 100,608 | 10.97 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 110,815 | 9.22 | 102,877 | 8.79 | ||||||||||
Bank | 104,090 | 8.66 | 100,608 | 8.6 | ||||||||||
Well Capitalized: | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 95,290 | 10 | % | $ | 91,779 | 10 | % | ||||||
Bank | 95,236 | 10 | 91,727 | 10 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 57,174 | 6 | 55,067 | 6 | ||||||||||
Bank | 57,142 | 6 | 55,036 | 6 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 60,108 | 5 | 58,525 | 5 | ||||||||||
Bank | 60,068 | 5 | 58,462 | 5 | ||||||||||
Minimum Required: | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 76,232 | 8 | % | $ | 73,423 | 8 | % | ||||||
Bank | 76,189 | 8 | 73,382 | 8 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 38,116 | 4 | 36,712 | 4 | ||||||||||
Bank | 38,094 | 4 | 36,691 | 4 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 48,086 | 4 | 46,820 | 4 | ||||||||||
Bank | 48,054 | 4 | 46,769 | 4 | ||||||||||
Parent_Company_Financial_Infor
Parent Company Financial Information (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Parent Company Financial Information | ' | |||||||||||
Parent Company Financial Information | ||||||||||||
LNB Bancorp, Inc.’s (parent company only) condensed balance sheets as of December 31, 2013 and 2012, and the condensed statements of income and cash flows for the years ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||||
Year ended December 31, | ||||||||||||
Condensed Balance Sheets | 2013 | 2012 | ||||||||||
(Dollars in thousands) | ||||||||||||
Assets: | ||||||||||||
Cash | $ | 9,320 | $ | 2,001 | ||||||||
Investment in The Lorain National Bank | 120,969 | 124,113 | ||||||||||
Other assets | 531 | 505 | ||||||||||
Total Assets | $ | 130,820 | $ | 126,619 | ||||||||
Liabilities and Shareholders’ Equity | ||||||||||||
Junior subordinated debentures | $ | 16,238 | $ | 16,238 | ||||||||
Short Term borrowing | 3,000 | — | ||||||||||
Other liabilities | 126 | 237 | ||||||||||
Shareholders’ equity | 111,456 | 110,144 | ||||||||||
Total Liabilities and Shareholders’ Equity | $ | 130,820 | $ | 126,619 | ||||||||
Year ended December 31, | ||||||||||||
Condensed Statements of Income | 2013 | 2012 | 2011 | |||||||||
(Dollars in thousands) | ||||||||||||
Income | ||||||||||||
Interest income | $ | — | $ | — | $ | 160 | ||||||
Cash dividend from The Lorain National Bank | 3,875 | 7,650 | — | |||||||||
Other income | 20 | 21 | 21 | |||||||||
Total Income | 3,895 | 7,671 | 181 | |||||||||
Expenses | ||||||||||||
Interest expense | 689 | 699 | 687 | |||||||||
Other expenses | 843 | 752 | 357 | |||||||||
Total Expense | 1,532 | 1,451 | 1,044 | |||||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiary | 2,363 | 6,220 | (863 | ) | ||||||||
Income tax benefit | (514 | ) | (486 | ) | (304 | ) | ||||||
Equity in undistributed net income of subsidiary | 3,284 | (599 | ) | 5,562 | ||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Year ended December 31, | ||||||||||||
Condensed Statements of Cash Flows | 2013 | 2012 | 2011 | |||||||||
(Dollars in thousands) | ||||||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Equity in undistributed net (income) loss of subsidiary | (3,284 | ) | 599 | (5,562 | ) | |||||||
Share-based compensation expense | 271 | 311 | 189 | |||||||||
Net change in other assets and liabilities | (61 | ) | 883 | (25 | ) | |||||||
Net cash provided by (used in) operating activities | 3,087 | 7,900 | (395 | ) | ||||||||
Cash Flows from Investing Activities: | ||||||||||||
Payments from The Lorain National Bank for subordinated debt instrument | — | — | 4,000 | |||||||||
Net cash provided by investing activities | — | — | 4,000 | |||||||||
Cash Flows from Financing Activities: | ||||||||||||
Net change in purchased funds and other borrowings | 3,000 | — | — | |||||||||
Repurchase common stock Warrant | — | (860 | ) | — | ||||||||
Net proceeds from issuance of common stock | 3,644 | — | — | |||||||||
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | (1,467 | ) | (6,159 | ) | — | |||||||
Dividends paid | (945 | ) | (1,568 | ) | (1,576 | ) | ||||||
Net cash used in financing activities | 4,232 | (8,587 | ) | (1,576 | ) | |||||||
Net increase (decrease) in cash equivalents | 7,319 | (687 | ) | 2,029 | ||||||||
Cash and cash equivalents at beginning of year | 2,001 | 2,688 | 659 | |||||||||
Cash and cash equivalents at end of year | $ | 9,320 | $ | 2,001 | $ | 2,688 | ||||||
Retirement_Pension_Plan_Notes
Retirement Pension Plan (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||
Retirement Pension Plan | ' | |||||||||||
Retirement Pension Plans | ||||||||||||
The Corporation’s non-contributory defined benefit pension plan (the Plan) covers a portion of its employees. In general, benefits are based on years of service and the employee’s level of compensation. The Corporation’s funding policy is to contribute annually an actuarially determined amount to cover current service cost plus amortization of prior service costs. Effective December 31, 2002, the benefits under the Pension Plan were frozen and no additional benefits have been accrued under the Pension Plan after December 31, 2002. | ||||||||||||
The net periodic pension costs charged to expense amounted to $198 in 2013, $16 in 2012 and $11 in 2011. The following table sets forth the defined benefit pension plan’s Change in Projected Benefit Obligation, Change in Plan Assets and Funded Status, including the Prepaid Asset or Accrued Liability for the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Change in projected benefit obligation | ||||||||||||
Projected benefit obligation at the beginning of the year | $ | (5,944 | ) | $ | (5,641 | ) | $ | (5,610 | ) | |||
Interest Cost | (232 | ) | (254 | ) | (322 | ) | ||||||
Actuarial gain (loss) | 279 | (359 | ) | (312 | ) | |||||||
Benefits paid | 846 | 310 | 603 | |||||||||
Projected benefit obligation at the end of the year | $ | (5,051 | ) | $ | (5,944 | ) | $ | (5,641 | ) | |||
Change in plan assets | ||||||||||||
Fair value of plan assets at beginning of year | $ | 5,678 | $ | 5,251 | $ | 5,756 | ||||||
Actual gain on plan assets | 904 | 237 | 98 | |||||||||
Employer contributions | — | 500 | — | |||||||||
Benefits paid | (846 | ) | (310 | ) | (603 | ) | ||||||
Fair value of plan assets at end of year | $ | 5,736 | $ | 5,678 | $ | 5,251 | ||||||
Funded status (included in accrued liabilities or prepaid assets) | $ | 685 | $ | (265 | ) | $ | (390 | ) | ||||
Unrecognized actuarial loss in accumulated other comprehensive income | $ | 1,964 | $ | 3,114 | $ | 2,754 | ||||||
Amounts recognized in the consolidated statements of income consist of: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Net Periodic Pension Cost | ||||||||||||
Interest cost on projected benefit obligation | $ | 232 | $ | 254 | $ | 322 | ||||||
Expected return on plan benefits | (414 | ) | (383 | ) | (442 | ) | ||||||
Amortization of loss | 227 | 145 | 131 | |||||||||
Net Periodic Pension Cost | $ | 45 | $ | 16 | $ | 11 | ||||||
Settlements | 153 | — | — | |||||||||
Total Benefit Cost | $ | 198 | $ | 16 | $ | 11 | ||||||
Pension liability adjustments recognized in other comprehensive income include: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Amortization of unrecognized actuarial loss | $ | 227 | $ | 145 | $ | 131 | ||||||
Current deferral of gains | (1,377 | ) | 214 | 393 | ||||||||
Pension liability adjustments recognized in comprehensive income | (1,150 | ) | 359 | 524 | ||||||||
Tax effect | 391 | (122 | ) | (178 | ) | |||||||
Net pension liability adjustments | $ | (759 | ) | $ | 237 | $ | 346 | |||||
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Weighted average discount rate | 4 | % | 4.5 | % | 5.75 | % | ||||||
Expected long-term rate of return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | ||||||
Assumed rate of future compensation increases | — | % | — | % | — | % | ||||||
The actuarial assumptions used in the pension plan valuation are reviewed annually. The plan reviews Moody’s Aaa and Aa corporate bond yields as of each plan year-end to determine the appropriate discount rate to calculate the year-end benefit plan obligation and the following year’s net periodic pension cost. | ||||||||||||
Plan Assets | ||||||||||||
The Bank’s Retirement Pension Plan’s weighted-average assets allocations at December 31, 2013, 2012 and 2011 by asset category are as follows: | ||||||||||||
Plan Assets at December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Asset Category: | ||||||||||||
Equity securities | 73.5 | % | 70.1 | % | 63.5 | % | ||||||
Debt securities | 25 | % | 27.6 | % | 34.9 | % | ||||||
Cash and cash equivalents | 1.5 | % | 2.3 | % | 1.6 | % | ||||||
Total | 100 | % | 100 | % | 100 | % | ||||||
LNB Bancorp, Inc. common stock to total plan assets | — | % | — | % | — | % | ||||||
The allocation of assets in the Bank’s Retirement Pension Plan is an important determinant of their investment performance. In general, the investment strategy for 2014 will concentrate on allocating funds traditionally with a 60% equity security position and a 40% debt security position. This strategy will be employed in order to position more assets to benefit from the anticipated increase in the equities market in the future. | ||||||||||||
The following estimated future benefit payments, which reflect no expected future service as the plan is frozen, are expected to be paid as follows: | ||||||||||||
Amount | ||||||||||||
(Dollars in thousands) | ||||||||||||
2014 | $ | 318 | ||||||||||
2015 | 306 | |||||||||||
2016 | 296 | |||||||||||
2017 | 281 | |||||||||||
2018 | 271 | |||||||||||
2019 and thereafter | 1,228 | |||||||||||
SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS | ||||||||||||
In 2013, the Corporation established a supplemental retirement plan (“SERP”) for the Chief Executive Officer. The Corporation has established and funded a Rabbi Trust to accumulate funds in order to satisfy the contractual liability of these supplemental retirement plan benefits. These agreements provide for the Corporation to pay all benefits from its general assets, and the establishment of these trust funds does not reduce nor otherwise affect the Corporation's continuing liability to pay benefits from such assets except that the Corporation's liability shall be offset by actual benefit payments made from the trusts. The SERP is an unfunded benefit plan. The Corporation does not expect to make benefit payments or contributions in the next fiscal years. SERP expense was $712 in 2013. | ||||||||||||
The Corporation has not determined if any contributions will be made to the SERP in 2014; however, actual contributions are made at the discretion of the Corporation's Board of Directors. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Share-Based Compensation | ' | |||||||||||
Share-Based Compensation | ||||||||||||
A broad-based stock incentive plan, the 2006 Stock Incentive Plan (the "2006 Plan"), was adopted by the Corporation’s shareholders on April 18, 2006 and was amended and restated May 2, 2012. Awards granted under the 2006 Plan as of December 31, 2013 were stock options granted in 2007, 2008 and 2009 and long-term restricted shares issued in 2010, 2011, and 2012. In addition, the Corporation has nonqualified stock option agreements outside of the 2006 Plan. Grants under the nonqualified stock option agreements were made from 2005 to 2007. | ||||||||||||
As of December 31, 2013 and 2012, there was $480 and $377, respectively, of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the 2006 Plan. That cost is expected to be recognized over a weighted-average period of 0.8 years as of December 31, 2013. The total fair value of shares vested during the year ended December 31, 2013 and 2012 was $305 and $192, respectively. | ||||||||||||
Stock Options | ||||||||||||
During 2013, the Corporation granted 137,363 stock options to certain employees. All outstanding stock options were granted at an exercise price equal to the fair market value of the common stock on the date of grant. The maximum option term is ten years and the options generally vest over three years as follows: one-third after one year from the grant date, two-thirds after two years and completely after three years. | ||||||||||||
The Corporation recognizes compensation expense for awards with graded vesting schedule on a straight-line basis over the requisite service period for the entire award. The expense recorded for stock options was $60, $14 and $1 for the years ended December 31, 2013, 2012 and 2011, respectively. The maximum option term is ten years and the options generally vest over three years as follows: one-third after one year from the grant date, two-thirds after two years and completely after three years. | ||||||||||||
The fair value of options granted was determined using the following weighted-average assumptions as of grant date. | ||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||
Dividend Yield | 2.71 | % | 3.38 | % | ||||||||
Expected volatility | 35.58 | % | 33 | % | ||||||||
Risk-free interest rate | 1.37 | % | 1.27 | % | ||||||||
The weighted-average fair value of options granted in 2013 was $2.48. | ||||||||||||
Options outstanding at December 31, 2013 were as follows: | ||||||||||||
Outstanding | Exercisable | |||||||||||
Number | Weighted Average | Number | Weighted Average | |||||||||
Remaining | Exercise Price | |||||||||||
Contractual Life | ||||||||||||
(Years) | ||||||||||||
Range of Exercise Prices | ||||||||||||
$5.34-$5.39 | 37,500 | 7.91 | 14,167 | $ | 5.38 | |||||||
$9.07-$9.56 | 128,196 | 9.41 | — | $ | — | |||||||
$14.47 | 79,500 | 4.1 | 79,500 | 14.47 | ||||||||
$16.00-$16.50 | 32,500 | 2.96 | 32,500 | 16.04 | ||||||||
$19.10 | 30,000 | 2.09 | 30,000 | 19.1 | ||||||||
$19.17 | 30,000 | 1.09 | 30,000 | 19.17 | ||||||||
Outstanding at end of period | 337,696 | 5.98 | 186,167 | $ | 15.56 | |||||||
A summary of the status of stock options at December 31, 2013 and December 31, 2012 and changes during the year then ended is presented in the table below: | ||||||||||||
2013 | 2012 | |||||||||||
Options | Weighted Average | Options | Weighted Average | |||||||||
Exercise | Exercise | |||||||||||
Price per Share | Price per Share | |||||||||||
Outstanding at beginning of period | 232,000 | 14.5 | 197,000 | 16.12 | ||||||||
Granted | 137,363 | 9.18 | 35,000 | 5.39 | ||||||||
Forfeited or expired | (31,667 | ) | 13.46 | — | — | |||||||
Exercised | — | — | — | — | ||||||||
Stock dividend or split | — | — | — | — | ||||||||
Outstanding at end of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Exercisable at end of period | 186,167 | 15.56 | 197,000 | 16.12 | ||||||||
There were no options exercised during the year ended December 31, 2013 therefore the total intrinsic value of options exercised was $0. The total intrinsic value of all options outstanding for the year ended December 31, 2013 was $283. | ||||||||||||
Restricted Shares | ||||||||||||
In 2013, the Corporation issued 10,000 shares of long-term restricted stock, and 7,500 shares of long-term restricted stock were forfeited due to employee terminations. The market price of the Corporation’s common shares on the date of grant of the long-term restricted stock was $9.48 per share. In 2012, the Corporation issued 62,105 shares of long-term restricted stock. The market price of the Corporation’s common shares on the date of grant of the long-term restricted stock was $5.39 per share. In 2011, the Corporation issued 40,000 shares of long-term restricted stock, 2,500 of which were forfeited by the recipients due to employee terminations. The market price of the Corporation’s common shares on the date of grant of the long-term restricted shares was $5.28 per share. Shares of long-term restricted stock generally vest in two equal installments on the second and third anniversaries of the date of grant, or upon the earlier death or disability of the recipient or a qualified change of control of the Corporation. The expense recorded for long-term restricted stock for December 31, 2013, 2012 and 2011 was $201, $296, and $188, respectively. | ||||||||||||
The market price of the Corporation’s common shares at the date of grant is used to estimate the fair value of restricted stock awards. A summary of the status of restricted shares at December 31, 2013 is presented in the table below: | ||||||||||||
Nonvested | Weighted Average | |||||||||||
Shares | Grant Date | |||||||||||
Fair Value | ||||||||||||
Nonvested at January 1, 2013 | 143,031 | $ | 5.07 | |||||||||
Granted | 10,000 | 9.48 | ||||||||||
Vested | (62,176 | ) | 4.68 | |||||||||
Forfeited or expired | (7,500 | ) | 5.35 | |||||||||
Nonvested at December 31, 2013 | 83,355 | 5.86 | ||||||||||
Stock Appreciation Rights (“SARS”) | ||||||||||||
In 2006, the Corporation issued an aggregate of 30,000 SARS at $19.00 per share, 15,500 of which have expired due to employee terminations. The SARS vest over three years as follows: one-third after one year from the grant date, two-thirds after two years and completely after three years. Any unexercised portion of the SARS shall expire at the end of the stated term which is specified at the date of grant and shall not exceed ten years. The SARS issued in 2006 will expire in January 2016. The expense recorded for SARS for the years ended December 31, 2013, was $10, $4 for 2012 and $0 for 2011. |
Benefit_Plans_Benefit_Plans
Benefit Plans Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Benefit Plans | ' |
Benefit Plans | |
The Bank adopted The Lorain National Bank 401(k) Plan (the 401(k) Plan) effective January 1, 2001. The 401(k)Plan allows for the purchase of up to 80,000 shares of LNB Bancorp, Inc. treasury shares. No shares were purchased out of Treasury during 2013, 2012 or 2011. | |
Under provisions of the 401(k) Plan, a participant can contribute a percentage of their compensation to the 401(k) Plan. For plan years prior to January 1, 2008, the Bank made a non-discretionary 50% contribution to match each employee’s contribution, limited to the first six percent of an employee’s wage. Effective January 1, 2008, the Plan changed to a safe-harbor status with a 3% non-elective contribution for all employees. Effective January 1, 2001, the 401(k) Plan permits the investment of plan assets, contributed by employees as well as the Corporation, among different funds. | |
The Bank’s matching contributions are expensed in the year in which the associated participant contributions are made and totaled $467, $410, and $395, in 2013, 2012 and 2011, respectively. |
Financial_Instruments_with_Off
Financial Instruments with Off Balance Sheet Risk and Contingencies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Financial Instruments with Off Balance Sheet Risk and Contingencies | ' | |||||||
Financial Instruments with Off Balance Sheet Risk and Contingencies | ||||||||
In the normal course of business, the Bank enters into commitments with off-balance sheet risk to meet the financing needs of its customers. These instruments are currently limited to commitments to extend credit and standby letters of credit. Commitments to extend credit involve elements of credit risk and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the commitment is represented by the contractual amount of the commitment. The Bank uses the same credit policies in making commitments as it does for on-balance sheet instruments. Interest rate risk on commitments to extend credit results from the possibility that interest rates may have moved unfavorably from the position of the Bank since the time the commitment was made. | ||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates of 30 to 120 days or other termination clauses and may require payment of a fee. Since some of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. | ||||||||
The Bank evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained by the Bank upon extension of credit is based on management’s credit evaluation of the applicant. Collateral held is generally single-family residential real estate and commercial real estate. Substantially all of the obligations to extend credit are variable rate. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. | ||||||||
A summary of the contractual amount of commitments at December 31, 2013 and 2012 follows: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Commitments to extend credit | $ | 84,283 | $ | 74,206 | ||||
Home equity lines of credit | 89,331 | 81,041 | ||||||
Standby letters of credit | 8,448 | 8,685 | ||||||
Total | $ | 182,062 | $ | 163,932 | ||||
The nature of the Corporation’s business may result in litigation. Management, after reviewing with counsel all actions and proceedings pending against or involving LNB Bancorp, Inc. and subsidiaries, considers that the aggregate liability or loss, if any, resulting from them will not be material to the Corporation’s financial position, results of operation or liquidity. | ||||||||
Interest Rate Swaps | ||||||||
In 2013 the Corporation implemented an interest rate program for commercial loan customers. The interest rate program, provides the customer with a fixed rate loan while creating a variable rate asset for the Corporation through the customer entering into an interest rate swap with the Corporation on terms that match the loan. The Corporation offsets its risk exposure by entering into an offsetting interest rate swap with an unaffiliated institution. These interest rate swaps do not qualify as designated hedges, therefore, each swap is accounted for as a standalone derivative. The Corporation had interest rate swaps associated with commercial loans with a notional value of $11,646 and fair value of $222 at December 31, 2013. These interest swaps did not have material impact on the Corporation's results of operation or financial condition. |
Estimated_Fair_Value_of_Financ
Estimated Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||
Estimated Fair Value of Financial Instruments | ' | |||||||||||||||||||||
Estimated Fair Value of Financial Instruments | ||||||||||||||||||||||
The Corporation discloses estimated fair values for its financial instruments. Fair value estimates, methods and assumptions are set forth below for the Corporation’s financial instruments. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: | ||||||||||||||||||||||
• | The carrying value of cash and due from banks, Federal funds sold, short-term investments, interest bearing deposits in other banks and accrued interest receivable and other financial assets is a reasonable estimate of fair value due to the short-term nature of the asset. | |||||||||||||||||||||
• | The fair value of investment securities is based on the fair value hierarchy described below. | |||||||||||||||||||||
• | For variable rate loans with interest rates that may be adjusted on a quarterly, or more frequent basis, the carrying amount is a reasonable estimate of fair value. The fair value of other types of loans is estimated by discounting future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. | |||||||||||||||||||||
• | The carrying value approximates the fair value for bank owned life insurance. | |||||||||||||||||||||
• | The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings, money market, checking and interest-bearing checking, is equal to the amount payable on demand as of December 31, for each year presented. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. For variable rate certificates of deposit, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
• | Securities sold under repurchase agreements, other short-term borrowings, accrued interest payable and other financial liabilities approximate fair value due to the short-term nature of the liability. | |||||||||||||||||||||
• | The fair value of Federal Home Loan Bank advances is estimated by discounting future cash flows using current FHLB rates for the remaining term to maturity. | |||||||||||||||||||||
• | The fair value of junior subordinated debentures is based on the discounted value of contractual cash flows using rates currently offered for similar maturities. | |||||||||||||||||||||
• | The fair value of commitments to extend credit approximates the fees charged to make these commitments since rates and fees of the commitment contracts approximates those currently charged to originate similar commitments. The carrying amount and fair value of off-balance sheet instruments is not significant as of December 31, 2013 and 2012. | |||||||||||||||||||||
Limitations | ||||||||||||||||||||||
Estimates of fair value are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | ||||||||||||||||||||||
Estimates of fair value are based on existing on-and-off balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, the Bank has an Investment and Trust Services Division that contributes net fee income annually. The Investment and Trust Services Division is not considered a financial instrument and its value has not been incorporated into the fair value estimates. Other significant assets and liabilities that are not considered financial instruments include premises and equipment and deferred tax assets. The estimated fair values of the Corporation’s financial instruments at December 31, 2013 and 2012 are summarized as follows: | ||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | Carrying | Estimated | ||||||||||||||||
Value | Fair Value | Value | Fair Value | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||
Cash and due from banks, Federal funds sold and interest | $ | 52,272 | $ | 52,272 | $ | 52,272 | $ | — | $ | — | $ | 30,659 | $ | 30,659 | ||||||||
bearing deposits in other banks | ||||||||||||||||||||||
Securities | 216,122 | 216,122 | — | 211,438 | 4,684 | 203,763 | 203,763 | |||||||||||||||
Restricted stock | 5,741 | 5,741 | — | 5,741 | — | 5,741 | 5.741 | |||||||||||||||
Portfolio loans, net | 884,794 | 884,211 | — | — | 884,211 | 864,911 | 868,716 | |||||||||||||||
Loans held for sale | 4,483 | 4,487 | — | 4,487 | — | 7,634 | 7,891 | |||||||||||||||
Accrued interest receivable | 3,621 | 3,621 | — | — | 3,621 | 3,726 | 3,726 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||
Demand, savings and money market | 542,739 | 542,739 | — | 542,739 | — | 517,181 | 511,665 | |||||||||||||||
Certificates of deposit | 502,850 | 504,381 | — | 504,381 | — | 482,411 | 485,394 | |||||||||||||||
Short-term borrowings | 4,576 | 4,576 | — | 4,576 | — | 1,115 | 1,115 | |||||||||||||||
Federal Home Loan Bank advances | 46,708 | 46,923 | — | 46,923 | — | 46,508 | 46,828 | |||||||||||||||
Junior subordinated debentures | 16,238 | 16,778 | — | 16,778 | — | 16,238 | 17,197 | |||||||||||||||
Accrued interest payable | 789 | 789 | — | — | 789 | 882 | 882 | |||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||
The fair value of financial assets and liabilities recorded at fair value is categorized in three levels. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. These levels are as follows: | ||||||||||||||||||||||
• | Level 1 — Valuations based on quoted prices in active markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||||||
• | Level 2 — Valuations of assets and liabilities traded in less active dealer or broker markets. Valuations include quoted prices for similar assets and liabilities traded in the same market; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. | |||||||||||||||||||||
• | Level 3 — Assets and liabilities with valuations that include methodologies and assumptions that may not be readily observable, including option pricing models, discounted cash flow models, yield curves and similar techniques. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities, but in all cases are corroborated by external data, which may include third-party pricing services. | |||||||||||||||||||||
The following table presents information about the Corporation’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012, and the valuation techniques used by the Corporation to determine those fair values. | ||||||||||||||||||||||
Description | Fair Value as of | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
31-Dec-13 | Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs (Level 2) | Inputs | ||||||||||||||||||||
Assets (Level 1) | (Level 3) | |||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 65,388 | $ | — | $ | 65,388 | $ | — | ||||||||||||||
Mortgage backed securities | 94,430 | — | 94,430 | — | ||||||||||||||||||
Collateralized mortgage obligations | 18,655 | — | 18,655 | — | ||||||||||||||||||
Preferred securities | 4,684 | 4,684 | ||||||||||||||||||||
State and political subdivisions | 32,965 | — | 32,965 | — | ||||||||||||||||||
Interest rate swaps | 222 | — | 222 | — | ||||||||||||||||||
Total | $ | 216,344 | $ | — | $ | 211,660 | $ | 4,684 | ||||||||||||||
Description | Fair Value as of | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
31-Dec-12 | Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs (Level 2) | Inputs | ||||||||||||||||||||
Assets (Level 1) | (Level 3) | |||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 36,970 | $ | — | $ | 36,970 | $ | — | ||||||||||||||
Mortgage backed securities | 111,701 | — | 111,701 | — | ||||||||||||||||||
Collateralized mortgage obligations | 22,881 | — | 22,881 | — | ||||||||||||||||||
State and political subdivisions | 32,211 | — | 32,211 | — | ||||||||||||||||||
Total | $ | 203,763 | $ | — | $ | 203,763 | $ | — | ||||||||||||||
Fair value measurements of U.S. Government agencies and mortgage backed securities use pricing models that vary and may consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Fair value of debt securities such as obligations of state and political may be determined by matrix pricing. Matrix pricing is a mathematical technique that is used to value debt securities without relying exclusively on quoted prices for specific securities, but rather by relying on the securities relationship to other benchmark quoted prices. | ||||||||||||||||||||||
Derivatives: The Corporation's derivatives include interest rate swaps and written loan commitments and forward sales contracts related to residential mortgage loan origination activity. Valuations for interest rate swaps are derived from third-party models whose significant inputs are readily observable market parameters, primarily yield curves, with appropriate adjustments for liquidity and credit risk. These fair value measurements are classified as Level 2. The fair values of written loan commitments and forward sales contracts on the associated loans are based on quoted prices for similar loans in the secondary market, consistent with the valuation of residential mortgage loans held for sale. A written loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected "fallout" (interest rate locked pipeline loans not expected to close), using models, which consider cumulative historical fallout rates and other factors. Fallout can occur for a variety of reasons including falling rate environments when a borrower will abandon a fixed rate loan commitment at one lender and enter into a new lower fixed rate loan commitment at another, when a borrower is not approved as an acceptable credit by the lender or for a variety of other non-economic reasons. Fallout is not a significant input to the fair value of the written loan commitments in their entirety. These measurements are classified as Level 2. | ||||||||||||||||||||||
There were no transfers between Levels 1 and 2 of the fair value hierarchy during the years ended December 31, 2013 and 2012. For the available for sale securities, the Corporation obtains fair value measurements from an independent third-party service or independent brokers. | ||||||||||||||||||||||
The Corporation has assets that, under certain conditions, are subject to measurement at fair value on a nonrecurring basis. At December 31, 2013 and 2012, such assets consist primarily of impaired loans and other property. The Corporation has estimated the fair values of these assets using Level 3 inputs. | ||||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a nonrecurring basis: | ||||||||||||||||||||||
December 31, 2013 | Quoted Market | Internal | Internal | Total | ||||||||||||||||||
Prices in Active | Models with | Models with | ||||||||||||||||||||
Markets (Level 1) | Significant | Significant | ||||||||||||||||||||
Observable | Unobservable | |||||||||||||||||||||
Market | Market | |||||||||||||||||||||
Parameters | Parameters | |||||||||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Impaired and nonaccrual loans | $ | — | $ | — | $ | 21,986 | $ | 21,986 | ||||||||||||||
Other real estate | — | — | 579 | 579 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 23,577 | $ | 23,577 | ||||||||||||||
December 31, 2012 | Quoted Market | Internal | Internal | Total | ||||||||||||||||||
Prices in Active | Models with | Models with | ||||||||||||||||||||
Markets (Level 1) | Significant | Significant | ||||||||||||||||||||
Observable | Unobservable | |||||||||||||||||||||
Market | Market | |||||||||||||||||||||
Parameters | Parameters | |||||||||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Impaired and nonaccrual loans | $ | — | $ | — | $ | 27,796 | $ | 27,796 | ||||||||||||||
Other real estate | — | — | 1,366 | 1,366 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 29,162 | $ | 29,162 | ||||||||||||||
Impaired and nonaccrual loans: Fair value adjustments for these items typically occur when there is evidence of impairment. Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair market value of the collateral. The Corporation measures fair value based on the value of the collateral securing the loans. Collateral may be in the form of real estate or personal property including equipment and inventory. The vast majority of collateral is real estate. The value of the collateral is determined based on internal estimates as well as third party appraisals or non-binding broker quotes. These measurements were classified as Level 3. | ||||||||||||||||||||||
Other Real Estate: Other real estate includes foreclosed assets and properties securing residential and commercial loans. Foreclosed assets are adjusted to fair value less costs to sell upon transfer of the loans to foreclosed assets. Subsequently, foreclosed assets are carried at lower of carry value or fair value less costs to sell. Fair value is generally based upon internal estimates and third party appraisals or non-binding broker quotes and, accordingly, considered a Level 3 classification. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | |||||||||||||||||||
Quarterly Financial Data (Unaudited) | ||||||||||||||||||||
First | Second | Third | Fourth | Full Year | ||||||||||||||||
(Dollars in thousands, except per share amount) | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Total interest income | $ | 10,274 | $ | 10,576 | $ | 10,304 | $ | 10,525 | $ | 41,679 | ||||||||||
Total interest expense | 1,570 | 1,567 | 1,529 | 1,490 | 6,156 | |||||||||||||||
Net Interest income | 8,704 | 9,009 | 8,775 | 9,035 | 35,523 | |||||||||||||||
Provision for loan losses | 1,350 | 1,050 | 950 | 1,025 | 4,375 | |||||||||||||||
Net interest income after provision for loan losses | 7,354 | 7,959 | 7,825 | 8,010 | 31,148 | |||||||||||||||
Noninterest income | 3,332 | 3,072 | 2,466 | 3,256 | 12,126 | |||||||||||||||
Noninterest expense | 9,281 | 8,622 | 8,301 | 8,983 | 35,187 | |||||||||||||||
Income tax expense | 292 | 586 | 471 | 577 | 1,926 | |||||||||||||||
Net Income | 1,113 | 1,823 | 1,519 | 1,706 | 6,161 | |||||||||||||||
Preferred Stock Dividend and Accretion | 257 | 117 | 109 | 163 | 646 | |||||||||||||||
Net Income Available to Common Shareholders | 856 | 1,706 | 1,410 | 1,543 | 5,515 | |||||||||||||||
Basic earnings per common share | 0.1 | 0.18 | 0.15 | 0.18 | 0.61 | |||||||||||||||
Diluted earnings per common share | 0.1 | 0.18 | 0.15 | 0.18 | 0.61 | |||||||||||||||
Dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | |||||||||||||||
First | Second | Third | Fourth | Full Year | ||||||||||||||||
(Dollars in thousands, except per share amount) | ||||||||||||||||||||
2012 | ||||||||||||||||||||
Total interest income | $ | 11,677 | $ | 11,845 | $ | 11,506 | $ | 10,920 | $ | 45,948 | ||||||||||
Total interest expense | 2,022 | 1,912 | 1,843 | 1,732 | 7,509 | |||||||||||||||
Net Interest income | 9,655 | 9,933 | 9,663 | 9,188 | 38,439 | |||||||||||||||
Provision for loan losses | 1,900 | 1,667 | 1,875 | 1,800 | 7,242 | |||||||||||||||
Net interest income after provision for loan losses | 7,755 | 8,266 | 7,788 | 7,388 | 31,197 | |||||||||||||||
Noninterest income | 2,875 | 2,543 | 2,953 | 3,376 | 11,747 | |||||||||||||||
Noninterest expense | 8,544 | 9,047 | 8,678 | 8,634 | 34,903 | |||||||||||||||
Income tax expense (benefit) | 581 | 324 | 538 | 491 | 1,934 | |||||||||||||||
Net Income | 1,505 | 1,438 | 1,525 | 1,639 | 6,107 | |||||||||||||||
Preferred Stock Dividend and Accretion | 319 | 318 | 319 | 310 | 1,266 | |||||||||||||||
Net Income Available to Common Shareholders | 1,186 | 1,120 | 1,206 | 1,329 | 4,841 | |||||||||||||||
Basic earnings per common share | 0.15 | 0.14 | 0.15 | 0.17 | 0.61 | |||||||||||||||
Diluted earnings per common share | 0.15 | 0.14 | 0.15 | 0.17 | 0.61 | |||||||||||||||
Dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | |||||||||||||||
Changes_and_Reclassifications_
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | ' | |||||||||||||||||||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||
The following table presents the changes in AOCI by component of comprehensive for years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||||||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | Unrealized securities | Pension and post- retirement costs | Total | Unrealized securities | Pension and post- retirement costs | Total | ||||||||||||||||||||||||||||||||
gains and losses | gains and losses | gains and losses | ||||||||||||||||||||||||||||||||||||||
Balance at the beginning of the period | $ | 3,295 | $ | (2,055 | ) | $ | 1,240 | $ | 4,019 | $ | (1,818 | ) | $ | 2,201 | $ | 3,479 | $ | (1,472 | ) | $ | 2,007 | |||||||||||||||||||
Amounts recognized in other comprehensive income, | (7,070 | ) | 759 | (6,311 | ) | (598 | ) | (237 | ) | (835 | ) | 1,095 | (346 | ) | 749 | |||||||||||||||||||||||||
net of taxes of $3,227, $430 and $386 | ||||||||||||||||||||||||||||||||||||||||
Reclassified amounts out of accumulated other | 117 | — | 117 | 126 | — | 126 | 555 | — | 555 | |||||||||||||||||||||||||||||||
comprehensive income, net of tax of $60, $65 and $286 | ||||||||||||||||||||||||||||||||||||||||
Balance at the end of the period | $ | (3,892 | ) | $ | (1,296 | ) | $ | (5,188 | ) | $ | 3,295 | — | $ | (2,055 | ) | $ | 1,240 | $ | 4,019 | — | $ | (1,818 | ) | — | $ | 2,201 | ||||||||||||||
The following table presents current period reclassifications out of AOCI by component of comprehensive income for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | 31-Dec-11 | Income statement line item presentation | |||||||||||||||||||||||||||||||||||||
Realized (gains) losses on sale of securities | $ | 178 | $ | 189 | $ | 832 | Investment securities losses (gains), net | |||||||||||||||||||||||||||||||||
Tax expense (benefit) (34%) | 60 | 65 | 286 | Income tax expense (benefit) | ||||||||||||||||||||||||||||||||||||
Reclassified amount, net of tax | $ | 118 | $ | 124 | $ | 546 | ||||||||||||||||||||||||||||||||||
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
On December 12, 2013, the Corporation entered into a common shares purchase agreement (the “Purchase Agreement”) with certain investors party thereto (the “Investors”), which included certain third-party investors and certain directors of the Corporation. The transactions were approved by the Board of Directors of the Corporation, by a majority of the disinterested directors of the Corporation and by the Corporation’s Audit and Finance Committee. Pursuant to the Purchase Agreement, the Corporation sold to the Investors an aggregate of 367,321 Common Shares at a purchase price of $9.9087 per share (except that Investors who are directors of the Corporation or are related thereto paid $10.30 per share), for an aggregate purchase price of $3.68 million. The Purchase Agreement, among other things, provided the Investors with certain registration rights, pursuant to which the Corporation filed a Registration Statement on Form S-3 with the SEC, which was declared effective on January 16, 2014. | |
Following the completion of the issuance and sale of Common Shares pursuant to the Purchase Agreement, on December 17, 2013, the Corporation issued a notice of redemption of all 9,147 remaining shares of Series B Preferred Stock, to be funded with the proceeds of the sale of Common Shares along with cash from $3,000,000 in borrowings under the Corporation’s line of credit with an unaffiliated financial institution and from the Corporation’s accumulated earnings and excess capital. On January 17, 2014, the Corporation completed the retirement of the remaining shares of Series B Preferred Stock for an aggregate price of $9,147,000, the face liquidation amount of the shares, plus approximately $74,000 of accrued but unpaid dividends. The Corporation repurchased 1,458 of such shares in a private transaction in December 2013 and redeemed the remaining 7,689 shares of Series B Preferred Stock on the January 17, 2014 redemption date. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The consolidated financial statements include the accounts of LNB Bancorp, Inc. (the “Corporation”) and its wholly-owned subsidiary, The Lorain National Bank (the “Bank”). The consolidated financial statements also include the accounts of North Coast Community Development Corporation which is a wholly-owned subsidiary of the Bank. All intercompany transactions and balances have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates | |
LNB Bancorp Inc. prepares its financial statements in conformity with generally accepted accounting principles (GAAP), which requires the Corporation’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas involving the use of management’s estimates and assumptions include the allowance for loan losses, the valuation of goodwill, the realization of deferred tax assets and fair values of financial instruments. | |
Segment Information | ' |
Segment Information | |
The Corporation’s activities are considered to be a single industry segment for financial reporting purposes. LNB Bancorp, Inc. is a financial holding company engaged in the business of commercial and retail banking, investment management and trust services, title insurance, and insurance with operations conducted through its main office and banking centers located throughout Lorain, Erie, Cuyahoga, Summit, and Franklin counties of Ohio. This market provides the source for substantially all of the Bank’s deposit and loan and trust activities. The majority of the Bank’s income is derived from a diverse base of commercial, mortgage and retail lending activities and investments. | |
Statement of Cash Flows | ' |
Statement of Cash Flows | |
For purposes of reporting in the Consolidated Statements of Cash Flows, cash and cash equivalents include currency on hand, amounts due from banks, Federal funds sold, and securities purchased under resale agreements. Generally, Federal funds sold and securities purchased under resale agreements are for one day periods. | |
Securities | ' |
Securities | |
Securities that are bought and held for the sole purpose of being sold in the near term are deemed trading securities with any related unrealized gains and losses reported in earnings. As of December 31, 2013 and December 31, 2012, the Corporation did not hold any trading securities. Securities that the Corporation has a positive intent and ability to hold to maturity are classified as held to maturity. As of December 31, 2013 and December 31, 2012, LNB Bancorp, Inc. did not hold any securities classified as held to maturity. Securities that are not classified as trading or held to maturity are classified as available for sale. Securities classified as available for sale are carried at their fair value with unrealized gains and losses, net of tax, included as a component of accumulated other comprehensive income. Interest and dividends on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity or call, are included in interest income. Gains and losses on sales of securities are determined on the specific identification method. | |
Management evaluates securities for other-than-temporary impairment (“OTTI”) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. When evaluating investment securities consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, whether the market decline was affected by macroeconomic conditions and whether the Corporation has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. In analyzing an issuer’s financial condition, the Corporation may consider whether the securities are issued by the federal government or its agencies, or U.S. Government sponsored enterprises, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. | |
When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. If a security is determined to be other-than-temporarily impaired, but the entity does not intend to sell the security, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. | |
Restricted Stock | ' |
Restricted Stock | |
The Bank is a member of the Federal Home Loan Bank (FHLB) system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. The Bank is also a member of and owns stock in the Federal Reserve Bank. The Corporation also owns stock in Bankers Bancshares Inc., an institution that provides correspondent banking services to community banks. Stock in these institutions is classified as restricted stock and is recorded at redemption value which approximates fair value. The Corporation periodically evaluates the restricted stock for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |
Loans Held For Sale | ' |
Loans Held For Sale | |
Held for sale loans are carried at the lower of amortized cost or estimated fair value, determined on an aggregate basis for each type of loan. Net unrealized losses are recognized by charges to income. Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in the noninterest income section of the consolidated statement of income. | |
Mortgage banking | ' |
Mortgage banking | |
The Corporation sells originated mortgage loans into the secondary mortgage loan markets. During the period of loan origination and prior to the sale of the loans in the secondary market, the Corporation has exposure to movements in interest rates associated with mortgage loans that are in the “mortgage pipeline” and the “mortgage warehouse”. A pipeline loan is one in which the Corporation has entered into a written mortgage loan commitment with a potential borrower that will be held for resale. Written loan commitments that relate to the origination of mortgage loans that will be held for resale are considered free-standing derivatives and do not qualify for hedge accounting. Written loan commitments generally have a term of up to 60 days before the closing of the loan. The loan commitment does not bind the potential borrower to entering into the loan, nor does it guarantee that the Corporation will approve the potential borrower for the loan. Therefore, when determining fair value, the Corporation makes estimates of expected “fallout” (loan commitments not expected to close), using models, which consider cumulative historical fallout rates and other factors. Fallout can occur for a variety of reasons including falling interest rate environments where a borrower abandons an interest rate lock loan commitment when a borrower is not approved as an acceptable credit by the lender or for a variety of other non-economic reasons. | |
Written loan commitments in which the borrower has locked in an interest rate results in market risk to the Corporation to the extent market interest rates change from the rate quoted to the borrower. The Corporation economically hedges the risk of changing interest rates associated with its interest rate lock commitments by entering into mandatory forward sales contracts. | |
The Corporation's mortgage loans held for sale are subject to changes in fair value, due to changes in interest rates from the loan's closing date through the date the mortgage loan is sold in the secondary market. The fair value of the mortgage loan declines in value when interest rates increase and conversely increases in value when interest rates decrease. To mitigate the risk of changes in interest rates the Corporation enters into mandatory forward sales contracts on a portion of the mortgage loans held for sale to provide an economic hedge against those changes in fair value. The mandatory forward sales contracts were recorded at fair value with changes in value recorded in current earnings. | |
Indirect Lending | ' |
Indirect Lending | |
The Corporation’s indirect auto lending program originates new and used automobile loans to highly-qualified borrowers, generated through a network of automobile dealers located in Ohio, Pennsylvania, Kentucky, Georgia, Tennessee, Indiana and North Carolina. In addition to generating interest and fee income, the Corporation sells certain loans generated through this program as a means to manage the Bank’s balance sheet as well as maintain and build relationships with a network of investors that purchase the indirect auto loans from the Corporation. The indirect loans that are held for sale are carried at amortized cost and are typically sold to investors for a premium. The Corporation sells the indirect auto loans on terms that are determined on a deal by deal basis, with servicing retained by the Corporation. | |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities | |
The Corporation uses interest rate swaps, interest rate lock commitments and forward contracts sold to hedge interest rate risk for asset and liability management purposes. All derivatives are accounted for in accordance with ASC-815, Derivatives and Hedging, and are recorded as either other assets or other liabilities at fair value. The Corporation engages in an interest rate program to mitigate its exposure to rising interest rates. The interest rate program provides that a customer receives a fixed interest rate commercial loan and the Corporation subsequently converts that fixed rate loan to a variable rate instrument over the term of the loan by entering into an interest rate swap with a dealer counterparty based on a London Inter-Bank Offered Rate index. The Corporation then receives a fixed rate payment from the customer on the loan and pays the equivalent amount to the dealer counterparty on the swap in exchange for a variable rate payment stream. Based upon accounting guidance each swap is accounted for as a stand-alone derivative and designated as a fair value hedge with any changes in fair value presented in current earnings. Additional information regarding fair value measurement is included in Note 20 (Financial Instruments with Off Balance Sheet Risk and Contingencies) in the notes to the consolidated financial statements. | |
Loans | ' |
Loans | |
Loans are reported at the principal amount outstanding, net of unearned income and premiums and discounts. Loans acquired through business combinations are valued at fair market value on or near the date of acquisition. The difference between the principal amount outstanding and the fair market valuation is amortized over the aggregate average life of each class of loan. Unearned income includes deferred fees, net of deferred direct incremental loan origination costs. Unearned income is amortized to interest income, over the contractual life of the loan, using the interest method. Direct loan origination fees and costs are deferred and amortized as an adjustment to interest income over the contractual life of the loan, using the interest method. | |
Loans are generally placed on nonaccrual status when they are 90 days past due for interest or principal or when the full and timely collection of interest or principal becomes uncertain. When a loan has been placed on nonaccrual status, the accrued and unpaid interest receivable is reversed against interest income. Generally, a loan is returned to accrual status when all delinquent interest and principal becomes current under the terms of the loan agreement and when the collectability is no longer doubtful. | |
A loan is impaired when based on current information and events it is probable the Corporation will be unable to collect the scheduled payment of principal and interest when due under the contractual terms of the loan agreement. Impairment is evaluated in total for smaller-balance loans of similar nature such as real estate mortgages and installment loans, and on an individual loan basis for commercial loans that are graded substandard or below. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis. If a loan is impaired, a portion of the allowance may be allocated so that the loan is reported, net, using either the present value of estimated future cash flows discounted at the loans effective interest rate, the loan's observable market value or at the fair value of collateral if repayment is expected solely from the collateral. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses | |
The allowance for loan losses is management’s estimate of credit losses inherent in the loan portfolio at the balance sheet date. Management’s determination of the allowance, and the resulting provision, is based on judgments and assumptions, including general economic conditions, loan portfolio composition, loan loss experience, management’s evaluation of credit risk relating to pools of loans and individual borrowers, sensitivity analysis and expected loss models, value of underlying collateral, and observations of internal loan review staff or banking regulators. | |
The provision for loan losses is determined based on Management’s evaluation of the loan portfolio and the adequacy of the allowance for loan losses under current economic conditions and such other factors which, in management’s judgment, deserve current recognition. | |
Small Business Administration Lending | ' |
Small Business Administration Lending | |
The Corporation is approved to originate loans under the Small Business Administration (SBA) which are sometimes sold in the secondary market. The SBA’s program affords the Corporation a higher level of delegated credit autonomy, translating to a significantly shorter turnaround time from application to funding. The Corporation retains the unguaranteed portion of these loans and sells the guaranteed portion of these loans. The guaranteed portion of these loans is readily marketable on a servicing-retained basis in an active national secondary market. In general, the SBA guarantees up to 85% of the loan amount depending on loan size. The Corporation continues to service these loans after sale and is required under the SBA programs to retain specified amounts. The servicing spread is 1% on the majority of loans. In calculating gain on the sale of SBA loans, the Corporation performs an allocation based on the relative fair values of the sold portion and retained portion of the loan. The Corporation's assumptions are validated by reference to external market information. | |
Servicing | ' |
Servicing | |
Servicing assets are recognized as separate assets when rights are acquired through sale of financial assets. Capitalized servicing rights are reported in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Servicing assets are evaluated for impairment on a quarterly basis based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Impairment is recognized through a valuation allowance for an individual stratum, to the extent that fair value is less than the capitalized amount for the stratum. | |
Bank Premises and Equipment | ' |
Bank Premises and Equipment | |
Bank premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed generally on the straight-line method over the estimated useful lives of the assets. Upon the sale or other disposition of assets, the cost and related accumulated depreciation are retired and the resulting gain or loss is recognized. Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized. Software costs related to externally developed systems are capitalized at cost less accumulated amortization. Amortization is computed on the straight-line method over the estimated useful life. | |
Fair Value Measurement | ' |
Fair Value Measurement | |
The Corporation uses fair value measurements to record certain assets and liabilities at fair value and determine fair value disclosures. Additional information regarding fair value measurement is included in Note 21 (Estimated Fair Value Financial Instruments) in the notes to the consolidated financial statements. | |
Goodwill and Core Deposit Intangibles | ' |
Goodwill and Core Deposit Intangibles | |
Intangible assets arise from acquisitions and include goodwill and core deposit intangibles. Goodwill is the excess of purchase price over the fair value of identified net assets in acquisitions. Core deposit intangibles represent the value of depositor relationships purchased. Goodwill is evaluated at least annually for impairment or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Corporation evaluates goodwill impairment annually as of November 30th of each year. Core deposit intangible assets are amortized using the straight-line method over ten years and are subject to annual impairment testing. | |
To simplify the process of testing goodwill for impairment for both public and nonpublic entities, on September 15, 2011 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-08, Intangibles — Goodwill and Other (Topic 350): Testing Goodwill for Impairment. ASU 2011-08 gives an entity the option to first assess qualitative factors to determine whether it is more likely than not (a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount (impairment). If the entity finds after the qualitative assessment that it is more likely than not (impairment indicators) that the fair value of a reporting unit is less than its carrying amount, the entity is then required to perform a full impairment test. Prior to the update, entities were required to test goodwill for impairment on at least an annual basis. The Corporation early adopted the ASU for 2011. | |
Other Real Estate Owned | ' |
Other Real Estate Owned | |
Other real estate owned (OREO) is comprised of property acquired through a foreclosure proceeding or acceptance of a deed-in-lieu of foreclosure, and loans classified as in-substance foreclosure. Other real estate owned is recorded at the lower of the recorded investment in the loan at the time of acquisition or the fair value of the underlying property collateral, less estimated selling costs. Any write-down in the carrying value of a property at the time of acquisition is charged to the allowance for loan losses. Any subsequent write-downs to reflect current fair market value, as well as gains and losses on disposition and revenues and expenses incurred in maintaining such properties, are treated as period costs. Banking premises are transferred at the lower of carrying value or estimated fair value, less estimated selling costs. | |
Bank Owned Life Insurance | ' |
Bank Owned Life Insurance | |
Bank owned life insurance policies are stated at the current cash surrender value of the policy, or the policy death proceeds less any obligation to provide a death benefit to an insured's beneficiaries if that value is less than the cash surrender value. Increases in the asset value are recorded as earnings in other income. | |
Split-Dollar Life Insurance | ' |
Split-Dollar Life Insurance | |
The Corporation recognizes a liability and related compensation costs for endorsement split-dollar life insurance policies that provide a benefit to certain employees extending to postretirement periods. Based on the present value of expected future cash flows, the liability is recognized based on the substantive agreement with the employee. | |
Share-Based Compensation | ' |
Share-Based Compensation | |
The Corporation’s stock based compensation plans are described in detail in Note 18 (Share-Based Compensation). Compensation expense is recognized for stock options and unvested (restricted) stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black Scholes model is utilized to estimate the fair value of stock options, while the market price of the Corporation’s common shares at the date of grant is used to estimate the fair value of unvested (restricted) stock awards. | |
Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards and as the unvested period for nonvested (restricted) stock awards. Certain of the Corporation’s share-based awards contain terms that provide for a graded vesting schedule whereby portions of the award vest in increments over the requisite service period. | |
Investment and Trust Services Assets and Income | ' |
Investment and Trust Services Assets and Income | |
Property held by the Corporation in fiduciary or agency capacity for its customers is not included in the Corporation’s financial statements as such items are not assets of the Corporation. Income from the Investment and Trust Services Division is reported on an accrual basis. | |
Off Balance Sheet Instruments | ' |
Off Balance Sheet Instruments | |
In the ordinary course of business, the Corporation has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. Additional information regarding Off Balance Sheet Instruments is included in Note 20 (Commitments and Contingencies) in the notes to the consolidated financial statements. | |
Income Taxes | ' |
Income Taxes | |
The Corporation and its wholly-owned subsidiary file an annual consolidated Federal income tax return. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be removed or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when necessary to reduce deferred tax assets to amounts which are deemed more likely than not to be realized. | |
Comprehensive Income | ' |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale and changes in the funded status of the pension plan, which are also recognized as separate components of shareholders’ equity. | |
New Accounting Pronouncements | ' |
Recent Financial Accounting Pronouncements | |
In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ASU No. 2013-01 clarifies that ASU No. 2011-11 applies only to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. Entities with other types of financial assets and financial liabilities subject to a master netting arrangement or similar agreement are no longer subject to the disclosure requirements in ASU No. 2011-11. The amendments are effective for annual and interim reporting periods beginning on or after January 1, 2013. The adoption of this ASU did not have a material impact on the Corporation's consolidated financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. The ASU does not amend any existing requirements for reporting net income or other comprehensive income in the financial statements but requires an entity to disaggregate the total change of each component of other comprehensive income and separately present reclassification adjustments and current period other comprehensive income. The provisions of this ASU also requires that entities present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line item affected by the reclassification. If a component is not required to be reclassified to net income in its entirety, entities would instead cross reference to the related note to the financial statements for additional information. Note 23 contains additional information regarding reclassifications out of AOCI and into net income | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The ASU requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2013, and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this ASU is not expected to have a material impact on the Corporation's consolidated financial statements. |
Earnings_Loss_Per_Common_Share1
Earnings (Loss) Per Common Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure Earning Per Share Additional Information [Abstract] | ' | |||||||||||
Basic and Diluted Earnings Per Share | ' | |||||||||||
Basic and diluted earnings per share are calculated as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands except per share amounts) | ||||||||||||
Weighted average shares outstanding used in Basic Earnings per Common Share | 9,050,901 | 7,939,433 | 7,880,249 | |||||||||
Dilutive effect of stock options | 19,989 | 4,485 | — | |||||||||
Weighted average shares outstanding used in Diluted Earnings Per Common Share | 9,070,890 | 7,943,918 | 7,880,249 | |||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Preferred stock dividend and accretion | 646 | 1,266 | 1,276 | |||||||||
Income Available to Common Shareholders | $ | 5,515 | $ | 4,841 | $ | 3,727 | ||||||
Basic Earnings Per Common Share | $ | 0.61 | $ | 0.61 | $ | 0.47 | ||||||
Diluted Earnings Per Common Share | $ | 0.61 | $ | 0.61 | $ | 0.47 | ||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Summary of Core Deposit Intangible Assets, Gross and Net | ' | |||||||
A summary of core deposit intangible assets follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Core deposit intangibles | $ | 1,367 | $ | 1,367 | ||||
Less: accumulated amortization | 910 | 773 | ||||||
Carrying value of core deposit intangibles | $ | 457 | $ | 594 | ||||
Schedule of Core Deposit Intangible Assets, Future Amortization Expense | ' | |||||||
Core Deposits Intangibles | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 137 | ||||||
2015 | 137 | |||||||
2016 | 137 | |||||||
2017 | 46 | |||||||
Securities_Tables
Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale | ' | |||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair values of securities at December 31, 2013 and 2012 follows: | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 71,851 | $ | — | $ | (6,463 | ) | $ | 65,388 | |||||||||||||||
Mortgage backed securities | 94,313 | 1,362 | (1,245 | ) | 94,430 | |||||||||||||||||||
Collateralized mortgage obligations | 18,650 | 255 | (250 | ) | 18,655 | |||||||||||||||||||
State and political subdivisions | 32,521 | 1,137 | (693 | ) | 32,965 | |||||||||||||||||||
Preferred securities | 4,684 | — | — | 4,684 | ||||||||||||||||||||
Total Securities | $ | 222,019 | $ | 2,754 | $ | (8,651 | ) | $ | 216,122 | |||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 36,868 | $ | 102 | $ | — | $ | 36,970 | ||||||||||||||||
Mortgage backed securities | 109,440 | 2,589 | (328 | ) | 111,701 | |||||||||||||||||||
Collateralized mortgage obligations | 22,483 | 398 | — | 22,881 | ||||||||||||||||||||
State and political subdivisions | 29,980 | 2,241 | (10 | ) | 32,211 | |||||||||||||||||||
Total Securities | $ | 198,771 | $ | 5,330 | $ | (338 | ) | $ | 203,763 | |||||||||||||||
Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity | ' | |||||||||||||||||||||||
Mortgage backed securities are not due at a single maturity date and are therefore shown separately. | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Amortized Cost | Fair | |||||||||||||||||||||||
Value | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 21,419 | $ | 20,587 | ||||||||||||||||||||
Due from one year to five years | 57,306 | 53,363 | ||||||||||||||||||||||
Due from five years to ten years | 24,738 | 23,583 | ||||||||||||||||||||||
Due after ten years | 5,593 | 5,504 | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations | 112,963 | 113,085 | ||||||||||||||||||||||
$ | 222,019 | $ | 216,122 | |||||||||||||||||||||
Realized Gains and Losses Related to Securities Available-for-Sale | ' | |||||||||||||||||||||||
Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method. | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Gross realized gains | $ | 178 | $ | 189 | $ | 832 | ||||||||||||||||||
Gross realized losses | — | — | — | |||||||||||||||||||||
Net Securities Gains | $ | 178 | $ | 189 | $ | 832 | ||||||||||||||||||
Proceeds from the sale of available for sale securities | $ | 2,272 | $ | 25,462 | $ | 36,427 | ||||||||||||||||||
Summary of Securities that had Unrealized Losses | ' | |||||||||||||||||||||||
The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity. | ||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 65,388 | $ | (6,463 | ) | $ | — | $ | — | $ | 65,388 | $ | (6,463 | ) | ||||||||||
Mortgage backed securities | 28,603 | (566 | ) | 31,051 | (679 | ) | 59,654 | (1,245 | ) | |||||||||||||||
Collateralized mortgage obligations | 5,079 | (59 | ) | 4,411 | (191 | ) | 9,490 | (250 | ) | |||||||||||||||
State and political subdivisions | 9,188 | (602 | ) | 447 | (91 | ) | 9,635 | (693 | ) | |||||||||||||||
Total | $ | 108,258 | $ | (7,690 | ) | $ | 35,909 | $ | (961 | ) | $ | 144,167 | $ | (8,651 | ) | |||||||||
At December 31, 2012 | ||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Mortgage backed securities | 44,491 | (328 | ) | — | — | 44,491 | (328 | ) | ||||||||||||||||
State and political subdivisions | 1,062 | (10 | ) | — | — | 1,062 | (10 | ) | ||||||||||||||||
Total | $ | 45,553 | $ | (338 | ) | $ | — | $ | — | $ | 45,553 | $ | (338 | ) | ||||||||||
Transactions_with_Related_Part1
Transactions with Related Parties Transactions with Related Parties (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Schedule of Related Party Transactions | ' | |||||||
A comparison of loans outstanding to related parties follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Amount at beginning of year | $ | 16,255 | $ | 17,214 | ||||
New loans | 2,399 | 1,741 | ||||||
Repayments | (2,512 | ) | (2,700 | ) | ||||
Changes in directors and officers and /or affiliations, net | 238 | — | ||||||
Amount at end of year | $ | 16,380 | $ | 16,255 | ||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||
Summary of Activity in the Loan Balances and the Allowance for Loan Losses by Segment | ' | |||||||||||||||||||||||||||
Activity in the allowance for loan losses by loan segment for 2013, 2012 and 2011 is summarized as follows: | ||||||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Losses charged off | (2,325 | ) | (121 | ) | (754 | ) | (1,775 | ) | (678 | ) | (366 | ) | (6,019 | ) | ||||||||||||||
Recoveries | 697 | 8 | 350 | 66 | 335 | 56 | 1,512 | |||||||||||||||||||||
Provision charged to expense | 364 | (225 | ) | 256 | 2,836 | 706 | 438 | 4,375 | ||||||||||||||||||||
Balance, end of year | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 865 | $ | 73 | $ | — | $ | — | $ | — | $ | — | $ | 938 | ||||||||||||||
Collectively evaluated for impairment | 9,257 | 424 | 1,411 | 3,484 | 1,593 | 398 | 16,567 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 17,842 | $ | 472 | $ | 1,731 | $ | 1,111 | $ | 195 | $ | 160 | $ | 21,511 | ||||||||||||||
Collectively evaluated for impairment | 383,749 | 88,174 | 64,776 | 121,965 | 206,128 | 15,996 | 880,788 | |||||||||||||||||||||
Total ending loans balance | $ | 401,591 | $ | 88,646 | $ | 66,507 | $ | 123,076 | $ | 206,323 | $ | 16,156 | $ | 902,299 | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Losses charged off | (3,199 | ) | (213 | ) | (1,430 | ) | (1,372 | ) | (963 | ) | (401 | ) | (7,578 | ) | ||||||||||||||
Recoveries | 388 | 45 | 96 | 35 | 288 | 58 | 910 | |||||||||||||||||||||
Provision charged to expense | 3,483 | (406 | ) | 1,562 | 1,405 | 1,014 | 184 | 7,242 | ||||||||||||||||||||
Balance, end of year | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,449 | $ | 209 | $ | 15 | $ | — | $ | — | $ | — | $ | 1,673 | ||||||||||||||
Collectively evaluated for impairment | 9,937 | 626 | 1,544 | 2,357 | 1,230 | 270 | 15,964 | |||||||||||||||||||||
Total ending allowance balance | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 23,321 | $ | 597 | $ | 1,790 | $ | 398 | $ | — | $ | 61 | $ | 26,167 | ||||||||||||||
Collectively evaluated for impairment | 390,684 | 68,108 | 63,193 | 122,432 | 199,924 | 12,040 | 856,381 | |||||||||||||||||||||
Total ending loans balance | $ | 414,005 | $ | 68,705 | $ | 64,983 | $ | 122,830 | $ | 199,924 | $ | 12,101 | $ | 882,548 | ||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | ||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of year | $ | 11,127 | $ | 1,317 | $ | 805 | $ | 1,512 | $ | 904 | $ | 471 | $ | 16,136 | ||||||||||||||
Losses charged off | (5,195 | ) | (262 | ) | (1,664 | ) | (1,895 | ) | (695 | ) | (398 | ) | (10,109 | ) | ||||||||||||||
Recoveries | 280 | 42 | 22 | 62 | 209 | 68 | 683 | |||||||||||||||||||||
Provision charged to expense | 4,502 | 312 | 2,168 | 2,610 | 473 | 288 | 10,353 | |||||||||||||||||||||
Balance, end of year | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,747 | $ | 148 | $ | 37 | $ | — | $ | — | $ | — | $ | 3,932 | ||||||||||||||
Collectively evaluated for impairment | 6,967 | 1,261 | 1,294 | 2,289 | 891 | 429 | 13,131 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,714 | $ | 1,409 | $ | 1,331 | $ | 2,289 | $ | 891 | $ | 429 | $ | 17,063 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 31,746 | $ | 705 | $ | 1,141 | $ | — | $ | — | $ | — | $ | 33,592 | ||||||||||||||
Collectively evaluated for impairment | 350,106 | 75,865 | 63,383 | 126,958 | 180,089 | 13,095 | 809,496 | |||||||||||||||||||||
Total ending loans balance | $ | 381,852 | $ | 76,570 | $ | 64,524 | $ | 126,958 | $ | 180,089 | $ | 13,095 | $ | 843,088 | ||||||||||||||
Age Analysis of Past Due Loans | ' | |||||||||||||||||||||||||||
and December 31, 2012 is as follows: | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Greater than | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | 90 Days | Investment | |||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 525 | $ | 4 | $ | 7,401 | $ | 7,930 | $ | 393,661 | $ | 401,591 | $ | — | ||||||||||||||
Commercial | — | 18 | 219 | 237 | 88,409 | 88,646 | — | |||||||||||||||||||||
Residential real estate | 347 | 960 | 2,252 | 3,559 | 62,948 | 66,507 | 158 | |||||||||||||||||||||
Home equity loans | 932 | 707 | 1,078 | 2,717 | 120,359 | 123,076 | 43 | |||||||||||||||||||||
Indirect | 332 | 30 | 23 | 385 | 205,938 | 206,323 | ||||||||||||||||||||||
Consumer | 183 | 25 | 191 | 399 | 15,757 | 16,156 | — | |||||||||||||||||||||
Total | $ | 2,319 | $ | 1,744 | $ | 11,164 | $ | 15,227 | $ | 887,072 | $ | 902,299 | $ | 201 | ||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Greater than | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | 90 Days | Investment | |||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 3,681 | $ | 1,004 | $ | 12,398 | $ | 17,083 | $ | 396,922 | $ | 414,005 | $ | — | ||||||||||||||
Commercial | — | — | 376 | 376 | 68,329 | 68,705 | — | |||||||||||||||||||||
Residential real estate | 394 | 1,094 | 2,827 | 4,315 | 60,668 | 64,983 | 184 | |||||||||||||||||||||
Home equity loans | 630 | 494 | 1,510 | 2,634 | 120,196 | 122,830 | — | |||||||||||||||||||||
Indirect | 645 | 227 | 69 | 941 | 198,983 | 199,924 | ||||||||||||||||||||||
Consumer | 26 | 40 | 123 | 189 | 11,912 | 12,101 | — | |||||||||||||||||||||
Total | $ | 5,376 | $ | 2,859 | $ | 17,303 | $ | 25,538 | $ | 857,010 | $ | 882,548 | $ | 184 | ||||||||||||||
Impaired | ||||||||||||||||||||||||||||
Impaired Loans | ' | |||||||||||||||||||||||||||
or the Period Ended December 31, 2013, 2012 and 2011 are as follows: | ||||||||||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,530 | $ | 20,438 | $ | — | $ | 16,705 | ||||||||||||||||||||
Commercial | 214 | 267 | — | 186 | ||||||||||||||||||||||||
Residential real estate | 1,731 | 1,940 | — | 1,832 | ||||||||||||||||||||||||
Home equity loans | 1,111 | 1,623 | — | 847 | ||||||||||||||||||||||||
Indirect | 195 | 268 | — | 178 | ||||||||||||||||||||||||
Consumer | 160 | 204 | — | 111 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 2,312 | 2,319 | 865 | 4,374 | ||||||||||||||||||||||||
Commercial | 258 | 258 | 73 | 346 | ||||||||||||||||||||||||
Residential real estate | — | — | — | — | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 21,511 | $ | 27,317 | $ | 938 | $ | 24,579 | ||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,378 | $ | 20,086 | $ | — | $ | 9,945 | ||||||||||||||||||||
Commercial | 138 | 138 | — | 207 | ||||||||||||||||||||||||
Residential real estate | 1,610 | 1,686 | — | 1,187 | ||||||||||||||||||||||||
Home equity loans | 398 | 398 | — | 100 | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | 61 | 61 | — | 15 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 7,942 | 9,876 | 1,449 | 16,571 | ||||||||||||||||||||||||
Commercial | 459 | 459 | 209 | 251 | ||||||||||||||||||||||||
Residential real estate | 181 | 1,452 | 15 | 106 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 26,167 | $ | 34,156 | $ | 1,673 | $ | 28,382 | ||||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 12,585 | $ | 20,138 | $ | — | $ | 14,805 | ||||||||||||||||||||
Commercial | 386 | 386 | — | 419 | ||||||||||||||||||||||||
Residential real estate | 1,069 | 1,897 | — | 1,470 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 19,161 | 19,823 | 3,747 | 18,130 | ||||||||||||||||||||||||
Commercial | 319 | 794 | 148 | 570 | ||||||||||||||||||||||||
Residential real estate | 72 | 72 | 37 | 72 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 33,592 | $ | 43,110 | $ | 3,932 | $ | 35,466 | ||||||||||||||||||||
*impaired loans shown in the table above included loans that were classified as troubled debt restructurings ("TDRs"). The restructuring of a loan is considered a TDR if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. | ||||||||||||||||||||||||||||
Loans on Nonaccrual Status | ' | |||||||||||||||||||||||||||
Nonaccrual loan balances at December 31, 2013 and December 31, 2012 are as follows: | ||||||||||||||||||||||||||||
Loans On Non-Accrual Status | December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Commercial real estate | $ | 11,241 | $ | 16,349 | ||||||||||||||||||||||||
Commercial | 289 | 472 | ||||||||||||||||||||||||||
Residential real estate | 5,231 | 5,622 | ||||||||||||||||||||||||||
Home equity loans | 4,464 | 4,293 | ||||||||||||||||||||||||||
Indirect | 443 | 711 | ||||||||||||||||||||||||||
Consumer | 318 | 349 | ||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 21,986 | $ | 27,796 | ||||||||||||||||||||||||
Troubled Debt Restructuring Loan Information | ' | |||||||||||||||||||||||||||
The following table summarizes the loans that were modified as a TDR during the period ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||||||
Commercial real estate | 3 | $93 | $93 | |||||||||||||||||||||||||
Residential real estate | 3 | $236 | $236 | |||||||||||||||||||||||||
Home equity loans | 15 | $774 | $774 | |||||||||||||||||||||||||
Indirect Loans | 25 | $195 | $195 | |||||||||||||||||||||||||
Consumer Loans | 3 | $34 | $34 | |||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||||||
Commercial real estate | 7 | $5,595 | $5,114 | |||||||||||||||||||||||||
Residential real estate | 11 | $1,167 | $1,167 | |||||||||||||||||||||||||
Home equity loans | 8 | $398 | $398 | |||||||||||||||||||||||||
Consumer Loans | 1 | $61 | $61 | |||||||||||||||||||||||||
Summary of Recorded Investment Based on Delinquency Status | ' | |||||||||||||||||||||||||||
The following table presents the recorded investment of commercial real estate, commercial and residential real estate loans by internal credit risk grade and the recorded investment of residential real estate, home equity, indirect and consumer loans based on delinquency status as of December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 52 | $ | — | $ | — | $ | — | $ | — | $ | 52 | ||||||||||||||
Grade 2 — Modest | — | 37 | — | — | — | — | 37 | |||||||||||||||||||||
Grade 3 — Better than average | 857 | — | — | — | — | — | 857 | |||||||||||||||||||||
Grade 4 — Average | 22,580 | 271 | 613 | — | — | — | 23,464 | |||||||||||||||||||||
Grade 5 — Acceptable | 352,781 | 84,979 | 5,589 | — | — | — | 443,349 | |||||||||||||||||||||
Total Pass Credits | 376,218 | 85,339 | 6,202 | — | — | — | 467,759 | |||||||||||||||||||||
Grade 6 — Special mention | 2,146 | 2,891 | 35 | — | — | — | 5,072 | |||||||||||||||||||||
Grade 7 — Substandard | 23,227 | 416 | 625 | — | — | — | 24,268 | |||||||||||||||||||||
Grade 8 — Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 401,591 | 88,646 | 6,862 | — | — | — | 497,099 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 56,390 | 120,359 | 205,938 | 15,757 | 398,444 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 64 | 932 | 332 | 183 | 1,511 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 960 | 707 | 30 | 25 | 1,722 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 2,231 | 1,078 | 23 | 191 | 3,523 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 59,645 | 123,076 | 206,323 | 16,156 | 405,200 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 401,591 | $ | 88,646 | $ | 66,507 | $ | 123,076 | $ | 206,323 | $ | 16,156 | $ | 902,299 | ||||||||||||||
* | Residential loans with an internal commercial credit risk grade include loans that are secured by non-owner occupied 1-4 family residential properties and conventional 1-4 family residential properties. | |||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 114 | $ | — | $ | — | $ | — | $ | — | $ | 114 | ||||||||||||||
Grade 2 — Modest | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 3 — Better than average | 1,100 | 6 | — | — | — | — | 1,106 | |||||||||||||||||||||
Grade 4 — Average | 30,604 | 4,547 | 626 | — | — | — | 35,777 | |||||||||||||||||||||
Grade 5 — Acceptable | 342,067 | 60,023 | 5,584 | — | — | — | 407,674 | |||||||||||||||||||||
Total Pass Credits | 373,771 | 64,690 | 6,210 | — | — | — | 444,671 | |||||||||||||||||||||
Grade 6 — Special mention | 12,201 | 3,394 | 42 | — | — | — | 15,637 | |||||||||||||||||||||
Grade 7 — Substandard | 27,268 | 621 | 1,468 | — | — | — | 29,357 | |||||||||||||||||||||
Grade 8 — Doubtful | 765 | — | — | — | — | — | 765 | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 414,005 | 68,705 | 7,720 | — | — | — | 490,430 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 54,416 | 120,196 | 198,983 | 11,912 | 385,507 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 394 | 630 | 645 | 26 | 1,695 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 1,094 | 494 | 227 | 40 | 1,855 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 1,359 | 1,510 | 69 | 123 | 3,061 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 57,263 | 122,830 | 199,924 | 12,101 | 392,118 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 414,005 | $ | 68,705 | $ | 64,983 | $ | 122,830 | $ | 199,924 | $ | 12,101 | $ | 882,548 | ||||||||||||||
* Residential loans with an internal commercial credit risk grade include loans that are secured by non-owner occupied 1-4 family residential properties and conventional 1-4 family residential properties. |
Bank_Premises_Equipment_and_Le1
Bank Premises, Equipment and Leases (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of Premises, Equipment and Leases | ' | |||||||
Bank premises and equipment are summarized as follows: | ||||||||
At December 31 | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Land | $ | 2,452 | $ | 2,452 | ||||
Buildings | 11,422 | 11,373 | ||||||
Equipment | 14,990 | 14,706 | ||||||
Purchased software | 4,739 | 4,722 | ||||||
Leasehold improvements | 1,088 | 1,088 | ||||||
Total cost | $ | 34,691 | $ | 34,341 | ||||
Less: accumulated depreciation and amortization | 26,493 | 25,620 | ||||||
Net bank premises and equipment | $ | 8,198 | $ | 8,721 | ||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |||||||
Minimum future payments under non-cancelable operating leases at December 31, 2013 are as follows: | ||||||||
Amount | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 782 | ||||||
2015 | 724 | |||||||
2016 | 559 | |||||||
2017 | 298 | |||||||
2018 | 254 | |||||||
2019 and thereafter | 556 | |||||||
Total | $ | 3,173 | ||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Deposit Balances | ' | |||||||
Deposit balances are summarized as follows: | ||||||||
At December 31, | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Demand and other noninterest-bearing | $ | 148,961 | $ | 139,894 | ||||
Interest checking | 164,662 | 155,248 | ||||||
Savings | 125,582 | 119,247 | ||||||
Money market accounts | 103,534 | 102,792 | ||||||
Consumer time deposits | 382,137 | 386,549 | ||||||
Public time deposits | 120,713 | 95,862 | ||||||
Total deposits | $ | 1,045,589 | $ | 999,592 | ||||
Contractual Maturities of Certificates of Deposits | ' | |||||||
The maturity distribution of time deposits as of December 31, 2013 follows: | ||||||||
December 31, 2013 | ||||||||
(Dollars in thousands) | ||||||||
2014 | $ | 337,867 | ||||||
2015 | 111,728 | |||||||
2016 | 37,374 | |||||||
2017 | 11,937 | |||||||
2018 | 3,944 | |||||||
Total | $ | 502,850 | ||||||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Disclosure Short Term Borrowings Additional Information [Abstract] | ' | |||||||||
Schedule of Short-term Debt | ' | |||||||||
The following table presents the components of federal funds purchased and securities sold under agreements to repurchase and short-term borrowings: | ||||||||||
As of December 31, | ||||||||||
2013 | 2012 | |||||||||
Federal funds purchased and securities sold under agreements to repurchase | $ | 1,576 | $ | 1,115 | ||||||
Line of credit with an unaffiliated financial institution | 3,000 | — | ||||||||
Total short-term borrowings | $ | 4,576 | $ | 1,115 | ||||||
Selected financial statement information pertaining to short-term borrowings is as follows: | ||||||||||
Short-term borrowings | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Average balance during the year | $ | 1,803 | $ | 784 | ||||||
Weighted-average annual interest rate during the year | 0.1 | % | 0.12 | % | ||||||
Maximum month-end balance | $ | 4,576 | $ | 1,408 | ||||||
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Disclosure Federal Home Loan Bank Advances Additional Information [Abstract] | ' | |||||||
Maturities of FHLB Advances Outstanding | ' | |||||||
Maturities of FHLB advances outstanding at December 31, 2013 and 2012 are as follows: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Maturity January 2014 with fixed rate 3.55% | $ | 1 | $ | 15 | ||||
Maturity January 2015 with fixed rate 0.80% | 20,000 | 20,000 | ||||||
Maturity December 2016 with fixed rate 0.79% | 10,000 | 10,000 | ||||||
Maturities June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% | 15,000 | 15,000 | ||||||
Maturity June 2018 fixed rate 1.24% | 2,500 | 2,500 | ||||||
Restructuring prepayment penalty | (793 | ) | (1,007 | ) | ||||
Total FHLB advances | $ | 46,708 | $ | 46,508 | ||||
Federal Home Loan Bank Advances Future Maturities | ' | |||||||
At December 31, 2013, the advances were structured to contractually pay down as follows: | ||||||||
Balance | Weighted Average Rate | |||||||
2014 | $ | 1 | —% | |||||
2015 | 20,000 | 0.8 | ||||||
2016 | 10,000 | 0.79 | ||||||
2017 | 15,000 | 0.96 | ||||||
2018 | 2,500 | 1.24 | ||||||
Thereafter | — | — | ||||||
Total | $ | 47,501 | 0.87% | |||||
Restructuring prepayment penalty | (793 | ) | ||||||
Total | $ | 46,708 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Provision for Income Taxes | ' | |||||||||||
The provision for income taxes consists of the following: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Income Taxes: | ||||||||||||
Federal current expense | $ | 1,070 | $ | 1,562 | $ | 1,199 | ||||||
Federal deferred expense (benefit) | 856 | 372 | (43 | ) | ||||||||
Total Income Tax expense | $ | 1,926 | $ | 1,934 | $ | 1,156 | ||||||
Schedule of Effective Income Taxes Reconciliation | ' | |||||||||||
The following presents a reconciliation of income taxes as shown on the Consolidated Statements of Income with that which would be computed by applying the statutory Federal tax rate of 34% to income (loss) before taxes in 2013, 2012 and 2011. | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Computed “expected” tax expense | $ | 2,750 | $ | 2,734 | $ | 2,094 | ||||||
Increase (reduction) in income taxes resulting from: | ||||||||||||
Tax exempt interest on obligations of state and political subdivisions | (483 | ) | (451 | ) | (404 | ) | ||||||
Tax exempt interest on bank owned life insurance | (212 | ) | (210 | ) | (203 | ) | ||||||
New markets tax credit | (59 | ) | (208 | ) | (270 | ) | ||||||
Other, net | (70 | ) | 69 | (61 | ) | |||||||
Total Income Tax Expense | $ | 1,926 | $ | 1,934 | $ | 1,156 | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||
The tax effects of temporary differences that give rise to significant portions of the deferred Federal tax assets and deferred Federal tax liabilities are presented below. | ||||||||||||
At December 31 | ||||||||||||
2013 | 2012 | |||||||||||
(Dollars in thousands) | ||||||||||||
Deferred Federal tax assets: | ||||||||||||
Allowance for loan losses | $ | 5,952 | $ | 5,996 | ||||||||
Deferred compensation | 729 | 420 | ||||||||||
Minimum pension liability | 668 | 1,059 | ||||||||||
Equity based compensation | 225 | 228 | ||||||||||
Accrued loan fees and costs | 295 | 314 | ||||||||||
New Market Tax Credit and AMT Credit Carryforward | — | 335 | ||||||||||
Non-accrual loan interest | 884 | 1,126 | ||||||||||
Mark-to-market adjustments | 1 | 75 | ||||||||||
Net unrealized loss on securities available for sale | 2,005 | — | ||||||||||
Other deferred tax assets | 251 | 179 | ||||||||||
Total deferred Federal tax assets | 11,010 | 9,732 | ||||||||||
Deferred Federal tax liabilities: | ||||||||||||
Net unrealized gain on securities available for sale | — | (1,698 | ) | |||||||||
FHLB stock dividends | (254 | ) | (255 | ) | ||||||||
Intangible asset amortization | (1,079 | ) | (1,118 | ) | ||||||||
Accretion | (250 | ) | (238 | ) | ||||||||
Deferred charges | (213 | ) | (182 | ) | ||||||||
FHLB restructure | (270 | ) | (342 | ) | ||||||||
Prepaid pension | (901 | ) | (969 | ) | ||||||||
Other deferred tax liabilities | (540 | ) | (274 | ) | ||||||||
Total deferred Federal tax liabilities | (3,507 | ) | (5,076 | ) | ||||||||
Net deferred Federal tax assets | $ | 7,503 | $ | 4,656 | ||||||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||
Schedule Regulatory Capital and Regulatory Capital Requirements | ' | |||||||||||||
Analysis of the Corporation’s and the Bank’s Regulatory Capital and Regulatory Capital Requirements follows: | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Amount | Ratio | Amount | Ratio | |||||||||||
(Dollars in thousands) | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 112,795 | 12.89 | % | $ | 114,425 | 12.47 | % | ||||||
Bank | 116,064 | 12.19 | 112,150 | 12.23 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 110,815 | 11.63 | 102,877 | 11.21 | ||||||||||
Bank | 104,090 | 10.93 | 100,608 | 10.97 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 110,815 | 9.22 | 102,877 | 8.79 | ||||||||||
Bank | 104,090 | 8.66 | 100,608 | 8.6 | ||||||||||
Well Capitalized: | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 95,290 | 10 | % | $ | 91,779 | 10 | % | ||||||
Bank | 95,236 | 10 | 91,727 | 10 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 57,174 | 6 | 55,067 | 6 | ||||||||||
Bank | 57,142 | 6 | 55,036 | 6 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 60,108 | 5 | 58,525 | 5 | ||||||||||
Bank | 60,068 | 5 | 58,462 | 5 | ||||||||||
Minimum Required: | ||||||||||||||
Total capital (risk weighted) | ||||||||||||||
Consolidated | $ | 76,232 | 8 | % | $ | 73,423 | 8 | % | ||||||
Bank | 76,189 | 8 | 73,382 | 8 | ||||||||||
Tier 1 capital (risk weighted) | ||||||||||||||
Consolidated | 38,116 | 4 | 36,712 | 4 | ||||||||||
Bank | 38,094 | 4 | 36,691 | 4 | ||||||||||
Tier 1 capital (average assets) | ||||||||||||||
Consolidated | 48,086 | 4 | 46,820 | 4 | ||||||||||
Bank | 48,054 | 4 | 46,769 | 4 | ||||||||||
Parent_Company_Financial_Infor1
Parent Company Financial Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Condensed Balance Sheets | ' | |||||||||||
Year ended December 31, | ||||||||||||
Condensed Balance Sheets | 2013 | 2012 | ||||||||||
(Dollars in thousands) | ||||||||||||
Assets: | ||||||||||||
Cash | $ | 9,320 | $ | 2,001 | ||||||||
Investment in The Lorain National Bank | 120,969 | 124,113 | ||||||||||
Other assets | 531 | 505 | ||||||||||
Total Assets | $ | 130,820 | $ | 126,619 | ||||||||
Liabilities and Shareholders’ Equity | ||||||||||||
Junior subordinated debentures | $ | 16,238 | $ | 16,238 | ||||||||
Short Term borrowing | 3,000 | — | ||||||||||
Other liabilities | 126 | 237 | ||||||||||
Shareholders’ equity | 111,456 | 110,144 | ||||||||||
Total Liabilities and Shareholders’ Equity | $ | 130,820 | $ | 126,619 | ||||||||
Condensed Statements of Income | ' | |||||||||||
Year ended December 31, | ||||||||||||
Condensed Statements of Income | 2013 | 2012 | 2011 | |||||||||
(Dollars in thousands) | ||||||||||||
Income | ||||||||||||
Interest income | $ | — | $ | — | $ | 160 | ||||||
Cash dividend from The Lorain National Bank | 3,875 | 7,650 | — | |||||||||
Other income | 20 | 21 | 21 | |||||||||
Total Income | 3,895 | 7,671 | 181 | |||||||||
Expenses | ||||||||||||
Interest expense | 689 | 699 | 687 | |||||||||
Other expenses | 843 | 752 | 357 | |||||||||
Total Expense | 1,532 | 1,451 | 1,044 | |||||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiary | 2,363 | 6,220 | (863 | ) | ||||||||
Income tax benefit | (514 | ) | (486 | ) | (304 | ) | ||||||
Equity in undistributed net income of subsidiary | 3,284 | (599 | ) | 5,562 | ||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Condensed Statements of Cash Flows | ' | |||||||||||
Year ended December 31, | ||||||||||||
Condensed Statements of Cash Flows | 2013 | 2012 | 2011 | |||||||||
(Dollars in thousands) | ||||||||||||
Net Income | $ | 6,161 | $ | 6,107 | $ | 5,003 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Equity in undistributed net (income) loss of subsidiary | (3,284 | ) | 599 | (5,562 | ) | |||||||
Share-based compensation expense | 271 | 311 | 189 | |||||||||
Net change in other assets and liabilities | (61 | ) | 883 | (25 | ) | |||||||
Net cash provided by (used in) operating activities | 3,087 | 7,900 | (395 | ) | ||||||||
Cash Flows from Investing Activities: | ||||||||||||
Payments from The Lorain National Bank for subordinated debt instrument | — | — | 4,000 | |||||||||
Net cash provided by investing activities | — | — | 4,000 | |||||||||
Cash Flows from Financing Activities: | ||||||||||||
Net change in purchased funds and other borrowings | 3,000 | — | — | |||||||||
Repurchase common stock Warrant | — | (860 | ) | — | ||||||||
Net proceeds from issuance of common stock | 3,644 | — | — | |||||||||
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | (1,467 | ) | (6,159 | ) | — | |||||||
Dividends paid | (945 | ) | (1,568 | ) | (1,576 | ) | ||||||
Net cash used in financing activities | 4,232 | (8,587 | ) | (1,576 | ) | |||||||
Net increase (decrease) in cash equivalents | 7,319 | (687 | ) | 2,029 | ||||||||
Cash and cash equivalents at beginning of year | 2,001 | 2,688 | 659 | |||||||||
Cash and cash equivalents at end of year | $ | 9,320 | $ | 2,001 | $ | 2,688 | ||||||
Retirement_Pension_Plan_Tables
Retirement Pension Plan (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||
Schedule of Pension Plan Disclosures | ' | |||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Change in projected benefit obligation | ||||||||||||
Projected benefit obligation at the beginning of the year | $ | (5,944 | ) | $ | (5,641 | ) | $ | (5,610 | ) | |||
Interest Cost | (232 | ) | (254 | ) | (322 | ) | ||||||
Actuarial gain (loss) | 279 | (359 | ) | (312 | ) | |||||||
Benefits paid | 846 | 310 | 603 | |||||||||
Projected benefit obligation at the end of the year | $ | (5,051 | ) | $ | (5,944 | ) | $ | (5,641 | ) | |||
Change in plan assets | ||||||||||||
Fair value of plan assets at beginning of year | $ | 5,678 | $ | 5,251 | $ | 5,756 | ||||||
Actual gain on plan assets | 904 | 237 | 98 | |||||||||
Employer contributions | — | 500 | — | |||||||||
Benefits paid | (846 | ) | (310 | ) | (603 | ) | ||||||
Fair value of plan assets at end of year | $ | 5,736 | $ | 5,678 | $ | 5,251 | ||||||
Funded status (included in accrued liabilities or prepaid assets) | $ | 685 | $ | (265 | ) | $ | (390 | ) | ||||
Unrecognized actuarial loss in accumulated other comprehensive income | $ | 1,964 | $ | 3,114 | $ | 2,754 | ||||||
Schedule of Net Periodic Pension Costs | ' | |||||||||||
Amounts recognized in the consolidated statements of income consist of: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Net Periodic Pension Cost | ||||||||||||
Interest cost on projected benefit obligation | $ | 232 | $ | 254 | $ | 322 | ||||||
Expected return on plan benefits | (414 | ) | (383 | ) | (442 | ) | ||||||
Amortization of loss | 227 | 145 | 131 | |||||||||
Net Periodic Pension Cost | $ | 45 | $ | 16 | $ | 11 | ||||||
Settlements | 153 | — | — | |||||||||
Total Benefit Cost | $ | 198 | $ | 16 | $ | 11 | ||||||
Schedule of Pension Liability Adjustments Recognized in Other Comprehensive Income | ' | |||||||||||
Pension liability adjustments recognized in other comprehensive income include: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Dollars in thousands) | ||||||||||||
Amortization of unrecognized actuarial loss | $ | 227 | $ | 145 | $ | 131 | ||||||
Current deferral of gains | (1,377 | ) | 214 | 393 | ||||||||
Pension liability adjustments recognized in comprehensive income | (1,150 | ) | 359 | 524 | ||||||||
Tax effect | 391 | (122 | ) | (178 | ) | |||||||
Net pension liability adjustments | $ | (759 | ) | $ | 237 | $ | 346 | |||||
Schedule of Weighted Average Assumptions | ' | |||||||||||
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Weighted average discount rate | 4 | % | 4.5 | % | 5.75 | % | ||||||
Expected long-term rate of return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | ||||||
Assumed rate of future compensation increases | — | % | — | % | — | % | ||||||
Schedule of Weighted Average Assets Allocations | ' | |||||||||||
The Bank’s Retirement Pension Plan’s weighted-average assets allocations at December 31, 2013, 2012 and 2011 by asset category are as follows: | ||||||||||||
Plan Assets at December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Asset Category: | ||||||||||||
Equity securities | 73.5 | % | 70.1 | % | 63.5 | % | ||||||
Debt securities | 25 | % | 27.6 | % | 34.9 | % | ||||||
Cash and cash equivalents | 1.5 | % | 2.3 | % | 1.6 | % | ||||||
Total | 100 | % | 100 | % | 100 | % | ||||||
LNB Bancorp, Inc. common stock to total plan assets | — | % | — | % | — | % | ||||||
Schedule of Estimated Future Benefit Payments | ' | |||||||||||
The following estimated future benefit payments, which reflect no expected future service as the plan is frozen, are expected to be paid as follows: | ||||||||||||
Amount | ||||||||||||
(Dollars in thousands) | ||||||||||||
2014 | $ | 318 | ||||||||||
2015 | 306 | |||||||||||
2016 | 296 | |||||||||||
2017 | 281 | |||||||||||
2018 | 271 | |||||||||||
2019 and thereafter | 1,228 | |||||||||||
SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS | ||||||||||||
In 2013, the Corporation established a supplemental retirement plan (“SERP”) for the Chief Executive Officer. The Corporation has established and funded a Rabbi Trust to accumulate funds in order to satisfy the contractual liability of these supplemental retirement plan benefits. These agreements provide for the Corporation to pay all benefits from its general assets, and the establishment of these trust funds does not reduce nor otherwise affect the Corporation's continuing liability to pay benefits from such assets except that the Corporation's liability shall be offset by actual benefit payments made from the trusts. The SERP is an unfunded benefit plan. The Corporation does not expect to make benefit payments or contributions in the next fiscal years. SERP expense was $712 in 2013. | ||||||||||||
The Corporation has not determined if any contributions will be made to the SERP in 2014; however, actual contributions are made at the discretion of the Corporation's Board of Directors. |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Fair Value of Options Granted Determined by Using Weighted-Average Assumptions | ' | |||||||||||
The fair value of options granted was determined using the following weighted-average assumptions as of grant date. | ||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||
Dividend Yield | 2.71 | % | 3.38 | % | ||||||||
Expected volatility | 35.58 | % | 33 | % | ||||||||
Risk-free interest rate | 1.37 | % | 1.27 | % | ||||||||
Summary of Options Outstanding | ' | |||||||||||
Options outstanding at December 31, 2013 were as follows: | ||||||||||||
Outstanding | Exercisable | |||||||||||
Number | Weighted Average | Number | Weighted Average | |||||||||
Remaining | Exercise Price | |||||||||||
Contractual Life | ||||||||||||
(Years) | ||||||||||||
Range of Exercise Prices | ||||||||||||
$5.34-$5.39 | 37,500 | 7.91 | 14,167 | $ | 5.38 | |||||||
$9.07-$9.56 | 128,196 | 9.41 | — | $ | — | |||||||
$14.47 | 79,500 | 4.1 | 79,500 | 14.47 | ||||||||
$16.00-$16.50 | 32,500 | 2.96 | 32,500 | 16.04 | ||||||||
$19.10 | 30,000 | 2.09 | 30,000 | 19.1 | ||||||||
$19.17 | 30,000 | 1.09 | 30,000 | 19.17 | ||||||||
Outstanding at end of period | 337,696 | 5.98 | 186,167 | $ | 15.56 | |||||||
Summary of Stock Options | ' | |||||||||||
A summary of the status of stock options at December 31, 2013 and December 31, 2012 and changes during the year then ended is presented in the table below: | ||||||||||||
2013 | 2012 | |||||||||||
Options | Weighted Average | Options | Weighted Average | |||||||||
Exercise | Exercise | |||||||||||
Price per Share | Price per Share | |||||||||||
Outstanding at beginning of period | 232,000 | 14.5 | 197,000 | 16.12 | ||||||||
Granted | 137,363 | 9.18 | 35,000 | 5.39 | ||||||||
Forfeited or expired | (31,667 | ) | 13.46 | — | — | |||||||
Exercised | — | — | — | — | ||||||||
Stock dividend or split | — | — | — | — | ||||||||
Outstanding at end of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Exercisable at end of period | 186,167 | 15.56 | 197,000 | 16.12 | ||||||||
Summary of the Status of Restricted Shares | ' | |||||||||||
A summary of the status of restricted shares at December 31, 2013 is presented in the table below: | ||||||||||||
Nonvested | Weighted Average | |||||||||||
Shares | Grant Date | |||||||||||
Fair Value | ||||||||||||
Nonvested at January 1, 2013 | 143,031 | $ | 5.07 | |||||||||
Granted | 10,000 | 9.48 | ||||||||||
Vested | (62,176 | ) | 4.68 | |||||||||
Forfeited or expired | (7,500 | ) | 5.35 | |||||||||
Nonvested at December 31, 2013 | 83,355 | 5.86 | ||||||||||
Financial_Instruments_with_Off1
Financial Instruments with Off Balance Sheet Risk and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Summary of The Contractual Amount of Commitments | ' | |||||||
A summary of the contractual amount of commitments at December 31, 2013 and 2012 follows: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
(Dollars in thousands) | ||||||||
Commitments to extend credit | $ | 84,283 | $ | 74,206 | ||||
Home equity lines of credit | 89,331 | 81,041 | ||||||
Standby letters of credit | 8,448 | 8,685 | ||||||
Total | $ | 182,062 | $ | 163,932 | ||||
Estimated_Fair_Value_of_Financ1
Estimated Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||
Summary of Financial Instruments | ' | |||||||||||||||||||||
The estimated fair values of the Corporation’s financial instruments at December 31, 2013 and 2012 are summarized as follows: | ||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | Carrying | Estimated | ||||||||||||||||
Value | Fair Value | Value | Fair Value | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Financial assets | ||||||||||||||||||||||
Cash and due from banks, Federal funds sold and interest | $ | 52,272 | $ | 52,272 | $ | 52,272 | $ | — | $ | — | $ | 30,659 | $ | 30,659 | ||||||||
bearing deposits in other banks | ||||||||||||||||||||||
Securities | 216,122 | 216,122 | — | 211,438 | 4,684 | 203,763 | 203,763 | |||||||||||||||
Restricted stock | 5,741 | 5,741 | — | 5,741 | — | 5,741 | 5.741 | |||||||||||||||
Portfolio loans, net | 884,794 | 884,211 | — | — | 884,211 | 864,911 | 868,716 | |||||||||||||||
Loans held for sale | 4,483 | 4,487 | — | 4,487 | — | 7,634 | 7,891 | |||||||||||||||
Accrued interest receivable | 3,621 | 3,621 | — | — | 3,621 | 3,726 | 3,726 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||
Demand, savings and money market | 542,739 | 542,739 | — | 542,739 | — | 517,181 | 511,665 | |||||||||||||||
Certificates of deposit | 502,850 | 504,381 | — | 504,381 | — | 482,411 | 485,394 | |||||||||||||||
Short-term borrowings | 4,576 | 4,576 | — | 4,576 | — | 1,115 | 1,115 | |||||||||||||||
Federal Home Loan Bank advances | 46,708 | 46,923 | — | 46,923 | — | 46,508 | 46,828 | |||||||||||||||
Junior subordinated debentures | 16,238 | 16,778 | — | 16,778 | — | 16,238 | 17,197 | |||||||||||||||
Accrued interest payable | 789 | 789 | — | — | 789 | 882 | 882 | |||||||||||||||
Assets Measured by Fair Value on a Recurring Basis | ' | |||||||||||||||||||||
The following table presents information about the Corporation’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012, and the valuation techniques used by the Corporation to determine those fair values. | ||||||||||||||||||||||
Description | Fair Value as of | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
31-Dec-13 | Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs (Level 2) | Inputs | ||||||||||||||||||||
Assets (Level 1) | (Level 3) | |||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 65,388 | $ | — | $ | 65,388 | $ | — | ||||||||||||||
Mortgage backed securities | 94,430 | — | 94,430 | — | ||||||||||||||||||
Collateralized mortgage obligations | 18,655 | — | 18,655 | — | ||||||||||||||||||
Preferred securities | 4,684 | 4,684 | ||||||||||||||||||||
State and political subdivisions | 32,965 | — | 32,965 | — | ||||||||||||||||||
Interest rate swaps | 222 | — | 222 | — | ||||||||||||||||||
Total | $ | 216,344 | $ | — | $ | 211,660 | $ | 4,684 | ||||||||||||||
Description | Fair Value as of | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
31-Dec-12 | Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs (Level 2) | Inputs | ||||||||||||||||||||
Assets (Level 1) | (Level 3) | |||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 36,970 | $ | — | $ | 36,970 | $ | — | ||||||||||||||
Mortgage backed securities | 111,701 | — | 111,701 | — | ||||||||||||||||||
Collateralized mortgage obligations | 22,881 | — | 22,881 | — | ||||||||||||||||||
State and political subdivisions | 32,211 | — | 32,211 | — | ||||||||||||||||||
Total | $ | 203,763 | $ | — | $ | 203,763 | $ | — | ||||||||||||||
Balances of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ' | |||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a nonrecurring basis: | ||||||||||||||||||||||
December 31, 2013 | Quoted Market | Internal | Internal | Total | ||||||||||||||||||
Prices in Active | Models with | Models with | ||||||||||||||||||||
Markets (Level 1) | Significant | Significant | ||||||||||||||||||||
Observable | Unobservable | |||||||||||||||||||||
Market | Market | |||||||||||||||||||||
Parameters | Parameters | |||||||||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Impaired and nonaccrual loans | $ | — | $ | — | $ | 21,986 | $ | 21,986 | ||||||||||||||
Other real estate | — | — | 579 | 579 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 23,577 | $ | 23,577 | ||||||||||||||
December 31, 2012 | Quoted Market | Internal | Internal | Total | ||||||||||||||||||
Prices in Active | Models with | Models with | ||||||||||||||||||||
Markets (Level 1) | Significant | Significant | ||||||||||||||||||||
Observable | Unobservable | |||||||||||||||||||||
Market | Market | |||||||||||||||||||||
Parameters | Parameters | |||||||||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
Impaired and nonaccrual loans | $ | — | $ | — | $ | 27,796 | $ | 27,796 | ||||||||||||||
Other real estate | — | — | 1,366 | 1,366 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 29,162 | $ | 29,162 | ||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||||||
First | Second | Third | Fourth | Full Year | ||||||||||||||||
(Dollars in thousands, except per share amount) | ||||||||||||||||||||
2013 | ||||||||||||||||||||
Total interest income | $ | 10,274 | $ | 10,576 | $ | 10,304 | $ | 10,525 | $ | 41,679 | ||||||||||
Total interest expense | 1,570 | 1,567 | 1,529 | 1,490 | 6,156 | |||||||||||||||
Net Interest income | 8,704 | 9,009 | 8,775 | 9,035 | 35,523 | |||||||||||||||
Provision for loan losses | 1,350 | 1,050 | 950 | 1,025 | 4,375 | |||||||||||||||
Net interest income after provision for loan losses | 7,354 | 7,959 | 7,825 | 8,010 | 31,148 | |||||||||||||||
Noninterest income | 3,332 | 3,072 | 2,466 | 3,256 | 12,126 | |||||||||||||||
Noninterest expense | 9,281 | 8,622 | 8,301 | 8,983 | 35,187 | |||||||||||||||
Income tax expense | 292 | 586 | 471 | 577 | 1,926 | |||||||||||||||
Net Income | 1,113 | 1,823 | 1,519 | 1,706 | 6,161 | |||||||||||||||
Preferred Stock Dividend and Accretion | 257 | 117 | 109 | 163 | 646 | |||||||||||||||
Net Income Available to Common Shareholders | 856 | 1,706 | 1,410 | 1,543 | 5,515 | |||||||||||||||
Basic earnings per common share | 0.1 | 0.18 | 0.15 | 0.18 | 0.61 | |||||||||||||||
Diluted earnings per common share | 0.1 | 0.18 | 0.15 | 0.18 | 0.61 | |||||||||||||||
Dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | |||||||||||||||
First | Second | Third | Fourth | Full Year | ||||||||||||||||
(Dollars in thousands, except per share amount) | ||||||||||||||||||||
2012 | ||||||||||||||||||||
Total interest income | $ | 11,677 | $ | 11,845 | $ | 11,506 | $ | 10,920 | $ | 45,948 | ||||||||||
Total interest expense | 2,022 | 1,912 | 1,843 | 1,732 | 7,509 | |||||||||||||||
Net Interest income | 9,655 | 9,933 | 9,663 | 9,188 | 38,439 | |||||||||||||||
Provision for loan losses | 1,900 | 1,667 | 1,875 | 1,800 | 7,242 | |||||||||||||||
Net interest income after provision for loan losses | 7,755 | 8,266 | 7,788 | 7,388 | 31,197 | |||||||||||||||
Noninterest income | 2,875 | 2,543 | 2,953 | 3,376 | 11,747 | |||||||||||||||
Noninterest expense | 8,544 | 9,047 | 8,678 | 8,634 | 34,903 | |||||||||||||||
Income tax expense (benefit) | 581 | 324 | 538 | 491 | 1,934 | |||||||||||||||
Net Income | 1,505 | 1,438 | 1,525 | 1,639 | 6,107 | |||||||||||||||
Preferred Stock Dividend and Accretion | 319 | 318 | 319 | 310 | 1,266 | |||||||||||||||
Net Income Available to Common Shareholders | 1,186 | 1,120 | 1,206 | 1,329 | 4,841 | |||||||||||||||
Basic earnings per common share | 0.15 | 0.14 | 0.15 | 0.17 | 0.61 | |||||||||||||||
Diluted earnings per common share | 0.15 | 0.14 | 0.15 | 0.17 | 0.61 | |||||||||||||||
Dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 | |||||||||||||||
Changes_and_Reclassifications_1
Changes and Reclassifications Out of Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Changes and Reclassifications Out of Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
The following table presents the changes in AOCI by component of comprehensive for years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||||||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | Unrealized securities | Pension and post- retirement costs | Total | Unrealized securities | Pension and post- retirement costs | Total | ||||||||||||||||||||||||||||||||
gains and losses | gains and losses | gains and losses | ||||||||||||||||||||||||||||||||||||||
Balance at the beginning of the period | $ | 3,295 | $ | (2,055 | ) | $ | 1,240 | $ | 4,019 | $ | (1,818 | ) | $ | 2,201 | $ | 3,479 | $ | (1,472 | ) | $ | 2,007 | |||||||||||||||||||
Amounts recognized in other comprehensive income, | (7,070 | ) | 759 | (6,311 | ) | (598 | ) | (237 | ) | (835 | ) | 1,095 | (346 | ) | 749 | |||||||||||||||||||||||||
net of taxes of $3,227, $430 and $386 | ||||||||||||||||||||||||||||||||||||||||
Reclassified amounts out of accumulated other | 117 | — | 117 | 126 | — | 126 | 555 | — | 555 | |||||||||||||||||||||||||||||||
comprehensive income, net of tax of $60, $65 and $286 | ||||||||||||||||||||||||||||||||||||||||
Balance at the end of the period | $ | (3,892 | ) | $ | (1,296 | ) | $ | (5,188 | ) | $ | 3,295 | — | $ | (2,055 | ) | $ | 1,240 | $ | 4,019 | — | $ | (1,818 | ) | — | $ | 2,201 | ||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||||||||||||||||||||||
The following table presents current period reclassifications out of AOCI by component of comprehensive income for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | 31-Dec-11 | Income statement line item presentation | |||||||||||||||||||||||||||||||||||||
Realized (gains) losses on sale of securities | $ | 178 | $ | 189 | $ | 832 | Investment securities losses (gains), net | |||||||||||||||||||||||||||||||||
Tax expense (benefit) (34%) | 60 | 65 | 286 | Income tax expense (benefit) | ||||||||||||||||||||||||||||||||||||
Reclassified amount, net of tax | $ | 118 | $ | 124 | $ | 546 | ||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
SBA, loan amount guarantee | 85.00% | ' |
Servicing spread percentage | 1.00% | ' |
Amortization of intangible assets | '10 years | ' |
Unrealized gain on available for sale securities | $3,892 | $3,295 |
Minimum pension liability adjustment | $1,296 | $2,055 |
Earnings_Loss_Per_Common_Share2
Earnings (Loss) Per Common Share - Basic and Diluted Earning Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Earning Per Share Additional Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares outstanding used in Basic Earnings per Common Share | ' | ' | ' | ' | ' | ' | ' | ' | 9,050,901 | 7,939,433 | 7,880,249 |
Dilutive effect of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 19,989 | 4,485 | 0 |
Weighted average shares outstanding used in Diluted Earnings Per Common Share | ' | ' | ' | ' | ' | ' | ' | ' | 9,070,890 | 7,943,918 | 7,880,249 |
Net income | $1,706 | $1,519 | $1,823 | $1,113 | $1,639 | $1,525 | $1,438 | $1,505 | $6,161 | $6,107 | $5,003 |
Preferred stock dividend and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 646 | 1,266 | 1,276 |
Income Available to Common Shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $5,515 | $4,841 | $3,727 |
Basic Earnings Per Common Share | $0.18 | $0.15 | $0.18 | $0.10 | $0.17 | $0.15 | $0.14 | $0.15 | $0.61 | $0.61 | $0.47 |
Diluted Earnings Per Common Share | $0.18 | $0.15 | $0.18 | $0.10 | $0.17 | $0.15 | $0.14 | $0.15 | $0.61 | $0.61 | $0.47 |
Earnings_Loss_Per_Common_Share3
Earnings (Loss) Per Common Share - Additional Information (Detail) (Stock options [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Securities not included in the computation of diluted earnings per share because the effect would be antidilutive | 172,000 | 194,500 | 197,000 |
Cash_and_Due_From_Banks_Additi
Cash and Due From Banks - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and Due from Banks [Abstract] | ' | ' |
Reserve Balance | $271 | $228 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Goodwill (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Goodwill | $21,582,000 | $21,582,000 | ' |
Goodwill impairment charge | 0 | 0 | ' |
Amortization of intangibles | $137,000 | $137,000 | $137,000 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Summary of Core Deposit Intangible Assets (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Carrying value of core deposit intangibles | $457 | $594 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' |
2014 | 137 | ' |
2015 | 137 | ' |
2016 | 137 | ' |
2017 | 46 | ' |
Core Deposit Intangibles | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated useful life | '10 years | ' |
Core deposit intangibles | 1,367 | 1,367 |
Less: accumulated amortization | 910 | 773 |
Carrying value of core deposit intangibles | $457 | $594 |
Securities_Amortized_Cost_Gros
Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $222,019 | $198,771 |
Unrealized gains | 2,754 | 5,330 |
Unrealized losses | -8,651 | -338 |
Fair Value | 216,122 | 203,763 |
U.S. Government agencies and corporations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 71,851 | 36,868 |
Unrealized gains | 0 | 102 |
Unrealized losses | -6,463 | 0 |
Fair Value | 65,388 | 36,970 |
Mortgage backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 94,313 | 109,440 |
Unrealized gains | 1,362 | 2,589 |
Unrealized losses | -1,245 | -328 |
Fair Value | 94,430 | 111,701 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 18,650 | 22,483 |
Unrealized gains | 255 | 398 |
Unrealized losses | -250 | 0 |
Fair Value | 18,655 | 22,881 |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 32,521 | 29,980 |
Unrealized gains | 1,137 | 2,241 |
Unrealized losses | -693 | -10 |
Fair Value | 32,965 | 32,211 |
Preferred Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,684 | ' |
Unrealized gains | 0 | ' |
Unrealized losses | 0 | ' |
Fair Value | $4,684 | ' |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Debt Maturities [Abstract] | ' | ' |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $21,419 | ' |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 57,306 | ' |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 24,738 | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 5,593 | ' |
Mortgage backed securities and collateralized mortgage obligations, Amortized cost | 112,963 | ' |
Amortized Cost | 222,019 | 198,771 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 20,587 | ' |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 53,363 | ' |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 23,583 | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 5,504 | ' |
Mortgage backed securities and collateralized mortgage obligations, Fair value | 113,085 | ' |
Fair Value | $216,122 | $203,763 |
Securities_Realized_Gains_and_
Securities - Realized Gains and Losses Related to Securities Available-for-Sale (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | ' | ' | ' |
Gross realized gains | $178 | $189 | $832 |
Gross realized losses | 0 | 0 | 0 |
Net Securities Gains | 178 | 189 | 832 |
Proceeds from sales of available-for-sale securities | $2,272 | $25,462 | $36,427 |
Securities_Summary_of_Securiti
Securities - Summary of Securities that had Unrealized Losses (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | $108,258 | $45,553 |
Less than 12 Months, Aggregate Losses | -7,690 | -338 |
Twelve Months or Longer, Fair Value | 35,909 | 0 |
Twelve Months or Longer, Unrealized Losses | -961 | 0 |
Total, Fair Value | 144,167 | 45,553 |
Total, Unrealized Losses | -8,651 | -338 |
U.S. Government agencies and corporations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 65,388 | 0 |
Less than 12 Months, Aggregate Losses | -6,463 | 0 |
Twelve Months or Longer, Fair Value | 0 | 0 |
Twelve Months or Longer, Unrealized Losses | 0 | 0 |
Total, Fair Value | 65,388 | 0 |
Total, Unrealized Losses | -6,463 | 0 |
Mortgage backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 28,603 | 44,491 |
Less than 12 Months, Aggregate Losses | -566 | -328 |
Twelve Months or Longer, Fair Value | 31,051 | 0 |
Twelve Months or Longer, Unrealized Losses | -679 | 0 |
Total, Fair Value | 59,654 | 44,491 |
Total, Unrealized Losses | -1,245 | -328 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 5,079 | ' |
Less than 12 Months, Aggregate Losses | -59 | ' |
Twelve Months or Longer, Fair Value | 4,411 | ' |
Twelve Months or Longer, Unrealized Losses | -191 | ' |
Total, Fair Value | 9,490 | ' |
Total, Unrealized Losses | -250 | ' |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 9,188 | 1,062 |
Less than 12 Months, Aggregate Losses | -602 | -10 |
Twelve Months or Longer, Fair Value | 447 | 0 |
Twelve Months or Longer, Unrealized Losses | -91 | 0 |
Total, Fair Value | 9,635 | 1,062 |
Total, Unrealized Losses | ($693) | ($10) |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
securities | securities | |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Carrying value of securities | $154,479 | $150,197 |
Number of securities | 53 | 12 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 8,651 | 338 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $7,690 | $338 |
Transactions_with_Related_Part2
Transactions with Related Parties Transactions with Related Parties Rollforward - Schedule of Related Party Transactions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loans and Leases Receivable, Related Parties | ' | ' |
Amount at beginning of year | $16,255 | $17,214 |
New loans | 2,399 | 1,741 |
Repayments | -2,512 | -2,700 |
Changes in directors, officers and / or affiliations, net | 238 | 0 |
Amount at end of year | 16,380 | 16,255 |
Related Party Deposit Liabilities | ' | ' |
Related party deposit liabilities | $10,589 | $6,975 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Summary of Activity in the Loan Balances and the Allowance for Loan Losses by Segment (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | $17,637 | ' | ' | ' | $17,063 | $17,637 | $17,063 | $16,136 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -6,019 | -7,578 | -10,109 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 1,512 | 910 | 683 |
Provision for loan losses | 1,025 | 950 | 1,050 | 1,350 | 1,800 | 1,875 | 1,667 | 1,900 | 4,375 | 7,242 | 10,353 |
Balance, end of period | 17,505 | ' | ' | ' | 17,637 | ' | ' | ' | 17,505 | 17,637 | 17,063 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 938 | ' | ' | ' | 1,673 | ' | ' | ' | 938 | 1,673 | 3,932 |
Collectively evaluated for impairment | 16,567 | ' | ' | ' | 15,964 | ' | ' | ' | 16,567 | 15,964 | 13,131 |
Total ending allowance balance | 17,505 | ' | ' | ' | 17,637 | ' | ' | ' | 17,505 | 17,637 | 17,063 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 21,511 | ' | ' | ' | 26,167 | ' | ' | ' | 21,511 | 26,167 | 33,592 |
Collectively evaluated for impairment | 880,788 | ' | ' | ' | 856,381 | ' | ' | ' | 880,788 | 856,381 | 809,496 |
Total ending loans balance | 902,299 | ' | ' | ' | 882,548 | ' | ' | ' | 902,299 | 882,548 | 843,088 |
Commercial Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 11,386 | ' | ' | ' | 10,714 | 11,386 | 10,714 | 11,127 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -2,325 | -3,199 | -5,195 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 697 | 388 | 280 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 364 | 3,483 | 4,502 |
Balance, end of period | 10,122 | ' | ' | ' | 11,386 | ' | ' | ' | 10,122 | 11,386 | 10,714 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 865 | ' | ' | ' | 1,449 | ' | ' | ' | 865 | 1,449 | 3,747 |
Collectively evaluated for impairment | 9,257 | ' | ' | ' | 9,937 | ' | ' | ' | 9,257 | 9,937 | 6,967 |
Total ending allowance balance | 10,122 | ' | ' | ' | 11,386 | ' | ' | ' | 10,122 | 11,386 | 10,714 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 17,842 | ' | ' | ' | 23,321 | ' | ' | ' | 17,842 | 23,321 | 31,746 |
Collectively evaluated for impairment | 383,749 | ' | ' | ' | 390,684 | ' | ' | ' | 383,749 | 390,684 | 350,106 |
Total ending loans balance | 401,591 | ' | ' | ' | 414,005 | ' | ' | ' | 401,591 | 414,005 | 381,852 |
Commercial | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 835 | ' | ' | ' | 1,409 | 835 | 1,409 | 1,317 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -121 | -213 | -262 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 45 | 42 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | -225 | -406 | 312 |
Balance, end of period | 497 | ' | ' | ' | 835 | ' | ' | ' | 497 | 835 | 1,409 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 73 | ' | ' | ' | 209 | ' | ' | ' | 73 | 209 | 148 |
Collectively evaluated for impairment | 424 | ' | ' | ' | 626 | ' | ' | ' | 424 | 626 | 1,261 |
Total ending allowance balance | 497 | ' | ' | ' | 835 | ' | ' | ' | 497 | 835 | 1,409 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 472 | ' | ' | ' | 597 | ' | ' | ' | 472 | 597 | 705 |
Collectively evaluated for impairment | 88,174 | ' | ' | ' | 68,108 | ' | ' | ' | 88,174 | 68,108 | 75,865 |
Total ending loans balance | 88,646 | ' | ' | ' | 68,705 | ' | ' | ' | 88,646 | 68,705 | 76,570 |
Residential Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 1,559 | ' | ' | ' | 1,331 | 1,559 | 1,331 | 805 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -754 | -1,430 | -1,664 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 350 | 96 | 22 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 256 | 1,562 | 2,168 |
Balance, end of period | 1,411 | ' | ' | ' | 1,559 | ' | ' | ' | 1,411 | 1,559 | 1,331 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | ' | ' | 15 | ' | ' | ' | 0 | 15 | 37 |
Collectively evaluated for impairment | 1,411 | ' | ' | ' | 1,544 | ' | ' | ' | 1,411 | 1,544 | 1,294 |
Total ending allowance balance | 1,411 | ' | ' | ' | 1,559 | ' | ' | ' | 1,411 | 1,559 | 1,331 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 1,731 | ' | ' | ' | 1,790 | ' | ' | ' | 1,731 | 1,790 | 1,141 |
Collectively evaluated for impairment | 64,776 | ' | ' | ' | 63,193 | ' | ' | ' | 64,776 | 63,193 | 63,383 |
Total ending loans balance | 66,507 | ' | ' | ' | 64,983 | ' | ' | ' | 66,507 | 64,983 | 64,524 |
Home Equity Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 2,357 | ' | ' | ' | 2,289 | 2,357 | 2,289 | 1,512 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -1,775 | -1,372 | -1,895 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 66 | 35 | 62 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 2,836 | 1,405 | 2,610 |
Balance, end of period | 3,484 | ' | ' | ' | 2,357 | ' | ' | ' | 3,484 | 2,357 | 2,289 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Collectively evaluated for impairment | 3,484 | ' | ' | ' | 2,357 | ' | ' | ' | 3,484 | 2,357 | 2,289 |
Total ending allowance balance | 3,484 | ' | ' | ' | 2,357 | ' | ' | ' | 3,484 | 2,357 | 2,289 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 1,111 | ' | ' | ' | 398 | ' | ' | ' | 1,111 | 398 | 0 |
Collectively evaluated for impairment | 121,965 | ' | ' | ' | 122,432 | ' | ' | ' | 121,965 | 122,432 | 126,958 |
Total ending loans balance | 123,076 | ' | ' | ' | 122,830 | ' | ' | ' | 123,076 | 122,830 | 126,958 |
Indirect | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 1,230 | ' | ' | ' | 891 | 1,230 | 891 | 904 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -678 | -963 | -695 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 335 | 288 | 209 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 706 | 1,014 | 473 |
Balance, end of period | 1,593 | ' | ' | ' | 1,230 | ' | ' | ' | 1,593 | 1,230 | 891 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Collectively evaluated for impairment | 1,593 | ' | ' | ' | 1,230 | ' | ' | ' | 1,593 | 1,230 | 891 |
Total ending allowance balance | 1,593 | ' | ' | ' | 1,230 | ' | ' | ' | 1,593 | 1,230 | 891 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 195 | ' | ' | ' | 0 | ' | ' | ' | 195 | 0 | 0 |
Collectively evaluated for impairment | 206,128 | ' | ' | ' | 199,924 | ' | ' | ' | 206,128 | 199,924 | 180,089 |
Total ending loans balance | 206,323 | ' | ' | ' | 199,924 | ' | ' | ' | 206,323 | 199,924 | 180,089 |
Consumer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | ' | 270 | ' | ' | ' | 429 | 270 | 429 | 471 |
Losses charged off | ' | ' | ' | ' | ' | ' | ' | ' | -366 | -401 | -398 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 56 | 58 | 68 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | 438 | 184 | 288 |
Balance, end of period | 398 | ' | ' | ' | 270 | ' | ' | ' | 398 | 270 | 429 |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Collectively evaluated for impairment | 398 | ' | ' | ' | 270 | ' | ' | ' | 398 | 270 | 429 |
Total ending allowance balance | 398 | ' | ' | ' | 270 | ' | ' | ' | 398 | 270 | 429 |
Loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 160 | ' | ' | ' | 61 | ' | ' | ' | 160 | 61 | 0 |
Collectively evaluated for impairment | 15,996 | ' | ' | ' | 12,040 | ' | ' | ' | 15,996 | 12,040 | 13,095 |
Total ending loans balance | $16,156 | ' | ' | ' | $12,101 | ' | ' | ' | $16,156 | $12,101 | $13,095 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | $2,319 | $5,376 | ' |
60-89 Days Past Due | 1,744 | 2,859 | ' |
Greater than 90 Days | 11,164 | 17,303 | ' |
Total Past Due | 15,227 | 25,538 | ' |
Current | 887,072 | 857,010 | ' |
Total ending loans balance | 902,299 | 882,548 | 843,088 |
Recorded Investment greater than 90 Days and Accruing | 201 | 184 | ' |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 525 | 3,681 | ' |
60-89 Days Past Due | 4 | 1,004 | ' |
Greater than 90 Days | 7,401 | 12,398 | ' |
Total Past Due | 7,930 | 17,083 | ' |
Current | 393,661 | 396,922 | ' |
Total ending loans balance | 401,591 | 414,005 | 381,852 |
Recorded Investment greater than 90 Days and Accruing | 0 | 0 | ' |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | 0 | ' |
60-89 Days Past Due | 18 | 0 | ' |
Greater than 90 Days | 219 | 376 | ' |
Total Past Due | 237 | 376 | ' |
Current | 88,409 | 68,329 | ' |
Total ending loans balance | 88,646 | 68,705 | 76,570 |
Recorded Investment greater than 90 Days and Accruing | 0 | 0 | ' |
Residential real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 347 | 394 | ' |
60-89 Days Past Due | 960 | 1,094 | ' |
Greater than 90 Days | 2,252 | 2,827 | ' |
Total Past Due | 3,559 | 4,315 | ' |
Current | 62,948 | 60,668 | ' |
Total ending loans balance | 66,507 | 64,983 | 64,524 |
Recorded Investment greater than 90 Days and Accruing | 158 | 184 | ' |
Home equity loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 932 | 630 | ' |
60-89 Days Past Due | 707 | 494 | ' |
Greater than 90 Days | 1,078 | 1,510 | ' |
Total Past Due | 2,717 | 2,634 | ' |
Current | 120,359 | 120,196 | ' |
Total ending loans balance | 123,076 | 122,830 | 126,958 |
Recorded Investment greater than 90 Days and Accruing | 43 | 0 | ' |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 332 | 645 | ' |
60-89 Days Past Due | 30 | 227 | ' |
Greater than 90 Days | 23 | 69 | ' |
Total Past Due | 385 | 941 | ' |
Current | 205,938 | 198,983 | ' |
Total ending loans balance | 206,323 | 199,924 | 180,089 |
Recorded Investment greater than 90 Days and Accruing | ' | ' | ' |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 183 | 26 | ' |
60-89 Days Past Due | 25 | 40 | ' |
Greater than 90 Days | 191 | 123 | ' |
Total Past Due | 399 | 189 | ' |
Current | 15,757 | 11,912 | ' |
Total ending loans balance | 16,156 | 12,101 | 13,095 |
Recorded Investment greater than 90 Days and Accruing | $0 | $0 | ' |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Impaired Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment, Total | $21,511 | $26,167 | $33,592 |
Unpaid Principal Balance, Total | 27,317 | 34,156 | 43,110 |
Related Allowance, Total | 938 | 1,673 | 3,932 |
Average Recorded Balance, Total | 24,579 | 28,382 | 35,466 |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 15,530 | 15,378 | 12,585 |
Unpaid Principal Balance | 20,438 | 20,086 | 20,138 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 16,705 | 9,945 | 14,805 |
Recorded Investment | 2,312 | 7,942 | 19,161 |
Unpaid Principal Balance | 2,319 | 9,876 | 19,823 |
Related Allowance | 865 | 1,449 | 3,747 |
Average Recorded Balance | 4,374 | 16,571 | 18,130 |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 214 | 138 | 386 |
Unpaid Principal Balance | 267 | 138 | 386 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 186 | 207 | 419 |
Recorded Investment | 258 | 459 | 319 |
Unpaid Principal Balance | 258 | 459 | 794 |
Related Allowance | 73 | 209 | 148 |
Average Recorded Balance | 346 | 251 | 570 |
Residential real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 1,731 | 1,610 | 1,069 |
Unpaid Principal Balance | 1,940 | 1,686 | 1,897 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 1,832 | 1,187 | 1,470 |
Recorded Investment | 0 | 181 | 72 |
Unpaid Principal Balance | 0 | 1,452 | 72 |
Related Allowance | 0 | 15 | 37 |
Average Recorded Balance | 0 | 106 | 72 |
Home equity loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 1,111 | 398 | 0 |
Unpaid Principal Balance | 1,623 | 398 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 847 | 100 | 0 |
Recorded Investment | 0 | 0 | 0 |
Unpaid Principal Balance | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 0 | 0 | 0 |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 195 | 0 | 0 |
Unpaid Principal Balance | 268 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 178 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 |
Unpaid Principal Balance | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 0 | 0 | 0 |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 160 | 61 | 0 |
Unpaid Principal Balance | 204 | 61 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | 111 | 15 | 0 |
Recorded Investment | 0 | 0 | 0 |
Unpaid Principal Balance | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Balance | $0 | $0 | $0 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Troubled Debt Restructuring Loan Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
contracts | contracts | |
Commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of loans | 3 | 7 |
Pre-Modification Outstanding Recorded Investment | $93 | $5,595 |
Post-Modification Outstanding Recorded Investment | 93 | 5,114 |
Residential real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of loans | 3 | 11 |
Pre-Modification Outstanding Recorded Investment | 236 | 1,167 |
Post-Modification Outstanding Recorded Investment | 236 | 1,167 |
Home equity loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of loans | 15 | 8 |
Pre-Modification Outstanding Recorded Investment | 774 | 398 |
Post-Modification Outstanding Recorded Investment | 774 | 398 |
Indirect Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of loans | 25 | ' |
Pre-Modification Outstanding Recorded Investment | 195 | ' |
Post-Modification Outstanding Recorded Investment | 195 | ' |
Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Number of loans | 3 | 1 |
Pre-Modification Outstanding Recorded Investment | 34 | 61 |
Post-Modification Outstanding Recorded Investment | $34 | $61 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Loans on Nonaccrual Status (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | $21,986 | $27,796 |
Commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 3 | 7 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 93 | 5,595 |
Post-Modification Outstanding Recorded Investment | 93 | 5,114 |
Total Nonaccrual Loans | 11,241 | 16,349 |
Commercial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 289 | 472 |
Residential real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 3 | 11 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 236 | 1,167 |
Post-Modification Outstanding Recorded Investment | 236 | 1,167 |
Total Nonaccrual Loans | 5,231 | 5,622 |
Home equity loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 15 | 8 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 774 | 398 |
Post-Modification Outstanding Recorded Investment | 774 | 398 |
Total Nonaccrual Loans | 4,464 | 4,293 |
Indirect Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 25 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 195 | ' |
Post-Modification Outstanding Recorded Investment | 195 | ' |
Indirect | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 443 | 711 |
Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 3 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 34 | 61 |
Post-Modification Outstanding Recorded Investment | 34 | 61 |
Total Nonaccrual Loans | $318 | $349 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Summary of Recorded Investment Based on Delinquency Status (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | $902,299 | $882,548 | $843,088 | ||
Commercial Real Estate | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 401,591 | 414,005 | 381,852 | ||
Commercial | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 88,646 | 68,705 | 76,570 | ||
Residential Real Estate | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 66,507 | 64,983 | 64,524 | ||
Home Equity Loans | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 123,076 | 122,830 | 126,958 | ||
Indirect | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 206,323 | 199,924 | 180,089 | ||
Consumer | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total ending loans balance | 16,156 | 12,101 | 13,095 | ||
Commercial Credit Exposure | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 467,759 | 444,671 | ' | ||
Total loans internally credit risk graded | -497,099 | -490,430 | ' | ||
Total loans not internally credit risk graded | -405,200 | -392,118 | ' | ||
Total ending loans balance | 902,299 | 882,548 | ' | ||
Commercial Credit Exposure | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 52 | 114 | ' | ||
Commercial Credit Exposure | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 37 | 0 | ' | ||
Commercial Credit Exposure | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 857 | 1,106 | ' | ||
Commercial Credit Exposure | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 23,464 | 35,777 | ' | ||
Commercial Credit Exposure | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 443,349 | 407,674 | ' | ||
Commercial Credit Exposure | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -5,072 | -15,637 | ' | ||
Commercial Credit Exposure | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -24,268 | -29,357 | ' | ||
Commercial Credit Exposure | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | -765 | ' | ||
Commercial Credit Exposure | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -398,444 | -385,507 | ' | ||
Commercial Credit Exposure | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -1,511 | -1,695 | ' | ||
Commercial Credit Exposure | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -1,722 | -1,855 | ' | ||
Commercial Credit Exposure | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -3,523 | -3,061 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 376,218 | 373,771 | ' | ||
Total loans internally credit risk graded | -401,591 | -414,005 | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Total ending loans balance | 401,591 | 414,005 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 857 | 1,100 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 22,580 | 30,604 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 352,781 | 342,067 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -2,146 | -12,201 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -23,227 | -27,268 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | -765 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial Real Estate | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 85,339 | 64,690 | ' | ||
Total loans internally credit risk graded | -88,646 | -68,705 | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Total ending loans balance | 88,646 | 68,705 | ' | ||
Commercial Credit Exposure | Commercial | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 52 | 114 | ' | ||
Commercial Credit Exposure | Commercial | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 37 | 0 | ' | ||
Commercial Credit Exposure | Commercial | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 6 | ' | ||
Commercial Credit Exposure | Commercial | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 271 | 4,547 | ' | ||
Commercial Credit Exposure | Commercial | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 84,979 | 60,023 | ' | ||
Commercial Credit Exposure | Commercial | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -2,891 | -3,394 | ' | ||
Commercial Credit Exposure | Commercial | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -416 | -621 | ' | ||
Commercial Credit Exposure | Commercial | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Commercial | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Residential Real Estate | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 6,202 | [1] | 6,210 | [1] | ' |
Total loans internally credit risk graded | -6,862 | [1] | -7,720 | [1] | ' |
Total loans not internally credit risk graded | -59,645 | [1] | -57,263 | [1] | ' |
Total ending loans balance | 66,507 | [1] | 64,983 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | [1] | 0 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | [1] | 0 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | [1] | 0 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 613 | [1] | 626 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 5,589 | [1] | 5,584 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 35 | [1] | 42 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | -625 | [1] | -1,468 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | [1] | 0 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | [1] | 0 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -56,390 | [1] | -54,416 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -64 | [1] | -394 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -960 | [1] | -1,094 | [1] | ' |
Commercial Credit Exposure | Residential Real Estate | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -2,231 | [1] | -1,359 | [1] | ' |
Commercial Credit Exposure | Home Equity Loans | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Total loans not internally credit risk graded | -123,076 | -122,830 | ' | ||
Total ending loans balance | 123,076 | 122,830 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Home Equity Loans | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -120,359 | -120,196 | ' | ||
Commercial Credit Exposure | Home Equity Loans | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -932 | -630 | ' | ||
Commercial Credit Exposure | Home Equity Loans | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -707 | -494 | ' | ||
Commercial Credit Exposure | Home Equity Loans | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -1,078 | -1,510 | ' | ||
Commercial Credit Exposure | Indirect | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Total loans not internally credit risk graded | -206,323 | -199,924 | ' | ||
Total ending loans balance | 206,323 | 199,924 | ' | ||
Commercial Credit Exposure | Indirect | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Indirect | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -205,938 | -198,983 | ' | ||
Commercial Credit Exposure | Indirect | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -332 | -645 | ' | ||
Commercial Credit Exposure | Indirect | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -30 | -227 | ' | ||
Commercial Credit Exposure | Indirect | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -23 | -69 | ' | ||
Commercial Credit Exposure | Consumer | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Total loans not internally credit risk graded | -16,156 | -12,101 | ' | ||
Total ending loans balance | 16,156 | 12,101 | ' | ||
Commercial Credit Exposure | Consumer | Grade 1-Minimal | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 2-Modest | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 3-Better than average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 4-Average | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 5-Acceptable | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total Pass Credits | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 6-Special mention | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 7-Substandard | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 8-Doubtful | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Grade 9-Loss | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans internally credit risk graded | 0 | 0 | ' | ||
Commercial Credit Exposure | Consumer | Current loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -15,757 | -11,912 | ' | ||
Commercial Credit Exposure | Consumer | 30-59 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | -183 | -26 | ' | ||
Commercial Credit Exposure | Consumer | 60-89 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | 25 | 40 | ' | ||
Commercial Credit Exposure | Consumer | 90 days past due loans not internally risk graded | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ||
Total loans not internally credit risk graded | ($191) | ($123) | ' | ||
[1] | Residential loans with an internal commercial credit risk grade include loans that are secured by non-owner occupied 1-4 family residential properties and conventional 1-4 family residential properties. |
Recovered_Sheet1
Loans and Allowance For Loan Losses - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Maximum [Member] | Minimum [Member] | ||
Receivables [Abstract] | ' | ' | ' | ' |
Bank wide delinquency of loans in percentage | 1.69% | 2.89% | ' | ' |
Bank wide delinquency of loans, 30 to 59 days delinquent, percentage | 0.26% | 0.61% | ' | ' |
Bank wide delinquency of loans, 60 to 89 days delinquent, percentage | 0.19% | 0.32% | ' | ' |
Loans and leases receivable, impaired, commitment to lend | $628 | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Time period of repayment based on delinquency period one | ' | ' | '59 days | '30 days |
Time period of repayment based on delinquency period two | ' | ' | '89 days | '60 days |
Time period of repayment based on delinquency period three | ' | ' | ' | '90 days |
Bank_Premises_Equipment_and_Le2
Bank Premises, Equipment and Leases - Schedule of Premises, Equipment and Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | $34,691 | $34,341 | ' |
Less: accumulated depreciation and amortization | 26,493 | 25,620 | ' |
Net bank premises and equipment | 8,198 | 8,721 | ' |
Depreciation and amortization | 1,014 | 1,147 | 1,228 |
Land | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 2,452 | 2,452 | ' |
Premises and Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization | 845 | 887 | 1,032 |
Buildings | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 11,422 | 11,373 | ' |
Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 14,990 | 14,706 | ' |
Leasehold improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 1,088 | 1,088 | ' |
Purchased Software | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, gross | 4,739 | 4,722 | ' |
Depreciation and amortization | $169 | $260 | $196 |
Bank_Premises_Equipment_and_Le3
Bank Premises, Equipment and Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
2013 | $782 | ' | ' |
2014 | 724 | ' | ' |
2015 | 559 | ' | ' |
2016 | 298 | ' | ' |
2017 | 254 | ' | ' |
2018 and thereafter | 556 | ' | ' |
Total | 3,173 | ' | ' |
Operating leases, rent expense | $1,000 | $1,040 | $977 |
Deposits_Deposit_Balances_Deta
Deposits - Deposit Balances (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits | ' | ' |
Demand and other noninterest-bearing | $148,961 | $139,894 |
Interest checking | 164,662 | 155,248 |
Savings | 125,582 | 119,247 |
Money market accounts | 103,534 | 102,792 |
Consumer time deposits | 382,137 | 386,549 |
Public time deposits | 120,713 | 95,862 |
Total deposits | $1,045,589 | $999,592 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Banking and Thrift [Abstract] | ' | ' |
Certificates of deposit denominations | $100 | ' |
Aggregate amount of certificates of deposit in denominations of $100,000 or more | $293,330 | $253,464 |
Deposits_Contractual_Maturitie
Deposits - Contractual Maturities of Certificates of Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Time Deposits, Fiscal Year Maturity [Abstract] | ' | ' |
2013 | $337,867 | ' |
2014 | 111,728 | ' |
2015 | 37,374 | ' |
2016 | 11,937 | ' |
2017 | 3,944 | ' |
Total | $502,850 | $482,411 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | ' | ' |
Line of credit | 50.00% | ' |
Home equity lines of credit | $87,948 | ' |
Available line of credit | 43,974 | ' |
Line of credit with an unaffiliated financial institution | 6,000 | ' |
Outstanding amount | 4,576 | 1,115 |
Securities Sold under Agreements to Repurchase [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Outstanding amount | 1,576 | 1,115 |
Line of Credit [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Outstanding amount | $3,000 | $0 |
Debt Interest Rate | 3.50% | ' |
ShortTerm_Borrowings_Component
Short-Term Borrowings - Components of Federal Funds Purchased and Securities Sold (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings (Note 10) | $4,576 | $1,115 |
Securities Sold under Agreements to Repurchase [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings (Note 10) | 1,576 | 1,115 |
Line of Credit [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings (Note 10) | $3,000 | $0 |
ShortTerm_Borrowings_Selected_
Short-Term Borrowings - Selected Financial Statement Information (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Short Term Borrowings Additional Information [Abstract] | ' | ' |
Average balance during the year | $1,803 | $784 |
Weighted-average annual interest rate during the year | 0.10% | 0.12% |
Maximum month-end balance | $4,576 | $1,408 |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Federal Home Loan Bank advances, including restructuring prepayment penalty | $46,708,000 | ' | ' |
Federal Home Loan Bank advances (Note 11) | 46,708,000 | 46,508,000 | ' |
Maximum borrowing capacity of the Bank | 73,819,000 | ' | ' |
Cash management line of credit | 40,000,000 | ' | ' |
Amount outstanding | 0 | 0 | ' |
Prepayments For Federal Home Loan Bank Advances | 27,500 | ' | ' |
Federal Home Loan Bank advances, average interest rate | 2.47% | ' | ' |
Federal Home Loan Bank advances contractual average interest rate | 0.88% | ' | ' |
Deferred FHLB prepayment penalty | -214,000 | 1,017,000 | 0 |
Multi-family mortgage loans [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Investment securities | 89,554,000 | ' | ' |
Residential real estate mortgage loans [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Investment securities | $16,845,000 | ' | ' |
Minimum [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Federal Home Loan Bank advances remaining maturity | '12 months | ' | ' |
Federal Home Loan Bank advances, fixed rate, remaining maturity | '49 months | ' | ' |
Maximum [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Federal Home Loan Bank advances remaining maturity | '31 months | ' | ' |
Federal Home Loan Bank advances, fixed rate, remaining maturity | '67 months | ' | ' |
Federal_Home_Loan_Bank_Advance3
Federal Home Loan Bank Advances - Maturities of FHLB Advances Outstanding (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | $46,708 | $46,508 |
Restructuring prepayment penalty | -793 | -1,007 |
Maturities January 2014 with fixed rate 3.55% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | 1 | 15 |
Maturities January 2015 with fixed rate 0.80% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | 20,000 | 20,000 |
Maturity December 2016 with fixed rate 0.79% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | 10,000 | 10,000 |
Maturity June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | 15,000 | 15,000 |
Maturity June 2018 fixed rate 1.24% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | $2,500 | $2,500 |
Federal_Home_Loan_Bank_Advance4
Federal Home Loan Bank Advances - Maturities of FHLB Advances Outstanding (Parenthetical) (Detail) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Maturities January 2014 with fixed rate 3.55% [Member] | Maturities January 2015 with fixed rate 0.80% [Member] | Maturity December 2016 with fixed rate 0.79% [Member] | Maturity June 2018 fixed rate 1.24% [Member] | Maturity January 2012, fixed rate 2.37% [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |
Maturity June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% [Member] | Maturities January 2014 through August 2014, with fixed rates ranging from 2.06% to 3.55% [Member] | Maturities January 2015 fixed rate 2.00% and July 2015 fixed rate 4.76% [Member] | Maturity June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% [Member] | Maturities January 2014 through August 2014, with fixed rates ranging from 2.06% to 3.55% [Member] | Maturities January 2015 fixed rate 2.00% and July 2015 fixed rate 4.76% [Member] | ||||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 3.55% | 0.80% | 0.79% | 1.24% | 2.37% | 0.89% | 2.06% | 2.00% | 0.99% | 3.55% | 4.76% |
Federal_Home_Loan_Bank_Advance5
Federal Home Loan Bank Advances Federal Home Loan Bank Advances - Schedule of Maturities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance | ' | ' |
2014 | $1 | ' |
2015 | 20,000 | ' |
2016 | 10,000 | ' |
2017 | 15,000 | ' |
2018 | 2,500 | ' |
Thereafter | 0 | ' |
Total | 47,501 | ' |
Restructuring prepayment penalty | -793 | -1,007 |
Total | 46,708 | ' |
Federal Home Loan Bank advances amount | $46,708 | $46,508 |
Weighted Average Rate | ' | ' |
2014 | 0.00% | ' |
2015 | 0.80% | ' |
2016 | 0.79% | ' |
2017 | 0.96% | ' |
2018 | 1.24% | ' |
Thereafter | 0.00% | ' |
Total | 0.87% | ' |
Trust_Preferred_Securities_Add
Trust Preferred Securities - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | |
31-May-07 | Dec. 31, 2013 | Dec. 31, 2012 | |
Trust Preferred Securities [Line Items] | ' | ' | ' |
Accrued interest payable | ' | $789,000 | $882,000 |
Maturity date of subordinate notes | ' | 15-Jun-37 | ' |
Balance of the subordinated notes payable | ' | 16,238,000 | 16,238,000 |
Trust I [Member] | ' | ' | ' |
Trust Preferred Securities [Line Items] | ' | ' | ' |
Preferred securities sold to outside investors | 10,000,000 | ' | ' |
Floating interest rate period | 'three-month LIBOR | ' | ' |
LIBOR basis points | 1.48% | ' | ' |
Effective interest rate | ' | 1.72% | ' |
Accrued interest payable | ' | 6,000 | 5,000 |
Trust II [Member] | ' | ' | ' |
Trust Preferred Securities [Line Items] | ' | ' | ' |
Floating interest rate period | 'three-month LIBOR | ' | ' |
LIBOR basis points | 1.48% | ' | ' |
Fixed interest rate of Trust II | 6.64% | ' | ' |
Effective interest rate | ' | 6.64% | ' |
Accrued interest payable | ' | 22,000 | 0 |
Balance of the subordinated notes payable | ' | $8,119,000 | ' |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal current expense | ' | ' | ' | ' | ' | ' | ' | ' | $1,070 | $1,562 | $1,199 |
Federal deferred income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 856 | 372 | -43 |
Total Income Tax expense | $577 | $471 | $586 | $292 | $491 | $538 | $324 | $581 | $1,926 | $1,934 | $1,156 |
Income_Taxes_Income_Taxes_Effe
Income Taxes Income Taxes - Effective Income Taxes Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Computed expected tax expense | ' | ' | ' | ' | ' | ' | ' | ' | $2,750 | $2,734 | $2,094 |
Tax exempt interest on obligations of state and political subdivisions | ' | ' | ' | ' | ' | ' | ' | ' | -483 | -451 | -404 |
Tax exempt interest on bank owned life insurance | ' | ' | ' | ' | ' | ' | ' | ' | -212 | -210 | -203 |
New markets tax credit | ' | ' | ' | ' | ' | ' | ' | ' | -59 | -208 | -270 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -70 | 69 | -61 |
Total Income Tax expense | $577 | $471 | $586 | $292 | $491 | $538 | $324 | $581 | $1,926 | $1,934 | $1,156 |
Income_Taxes_Income_Taxes_Defe
Income Taxes Income Taxes - Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Federal tax assets: | ' | ' |
Allowance for loan losses | $5,952 | $5,996 |
Deferred compensation | 729 | 420 |
Minimum pension liability | 668 | 1,059 |
Equity based compensation | 225 | 228 |
Accrued loan fees and costs | 295 | 314 |
New Market Tax Credit and AMT Credit Carryforward | 0 | 335 |
Non-accrual loan interest | 884 | 1,126 |
Mark-to-market adjustments | 1 | 75 |
Net unrealized loss on securities available for sale | 2,005 | 0 |
Other deferred tax assets | 251 | 179 |
Total deferred Federal tax assets | 11,010 | 9,732 |
Deferred Federal tax liabilities: | ' | ' |
Net unrealized gain on securities available for sale | 0 | -1,698 |
FHLB stock dividends | -254 | -255 |
Intangible asset amortization | -1,079 | -1,118 |
Accretion | -250 | -238 |
Deferred charges | -213 | -182 |
FHLB restructure | -270 | -342 |
Prepaid pension | -901 | -969 |
Other deferred tax liabilities | -540 | -274 |
Total deferred Federal tax liabilities | -3,507 | -5,076 |
Net deferred Federal tax assets | $7,503 | $4,656 |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
Nov. 05, 2010 | Jul. 28, 2005 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 15, 2013 | Sep. 30, 2012 | Dec. 12, 2008 | Dec. 12, 2013 | Dec. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 17, 2013 | Jun. 19, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 15, 2014 | Mar. 15, 2013 | Dec. 31, 2012 | Dec. 12, 2008 | Jan. 17, 2014 | Dec. 12, 2008 | Dec. 12, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2001 | Dec. 31, 2013 | Dec. 31, 2012 | |
Purchase Agreement [Member] | Purchase Agreement [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Retained Earnings [Member] | |||||||||
Director [Member] | Subsequent Event [Member] | Dividend Rate Declared, Before February 15, 2014 [Member] | Dividend Rate Declared, After February 15, 2014 [Member] | LNBB Direct Stock Purchase and Dividend Reinvestment Plan [Member] | LNBB Direct Stock Purchase and Dividend Reinvestment Plan [Member] | LNBB Direct Stock Purchase and Dividend Reinvestment Plan [Member] | ||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | 150,000 | 150,000 | ' | ' | 7,689 | 7,689 | ' | ' | 18,880 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,689 | 7,689 | ' | 9,147 | 18,880 | ' | 7,689 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | 7,689 | 7,689 | ' | ' | 18,880 | 25,223 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | $7,689,000 | $7,689,000 | ' | ' | $18,880,000 | $25,223 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, dividend rate, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, Series B, liquidation value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares by warrant | ' | ' | ' | ' | ' | ' | ' | 561,343 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant, exercise price | ' | ' | ' | ' | ' | ' | ' | 6.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Department of Treasury sale of Series B Preferred Stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,223 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Department of Treasury sale of Series B Preferred Stock, price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $856.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dutch auction of Series B Preferred Stock, initial public offering price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $869.17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | $1 | $1 | $1 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant repurchased mutually agreed price | ' | ' | ' | ' | ' | ' | 1.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant repurchased equity value | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchased during period | ' | ' | 6,343 | 11,112,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -43,000 | 163,000 |
Stock repurchased during period, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, issued | ' | ' | 10,001,717 | 10,001,717 | 8,272,548 | 1,359,348 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price | ' | ' | ' | ' | ' | $7.16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred shares received in exchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,733 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of share price to per share liquidation | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares sold | ' | ' | ' | ' | ' | ' | ' | ' | 367,321 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | $9.91 | $10.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Purchase Price | ' | ' | ' | ' | ' | ' | ' | ' | 3,680,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock redeemed (in shares) | ' | ' | ' | 11,191 | 6,343 | ' | ' | ' | ' | ' | ' | ' | 9,147 | ' | 1,458 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit borrowings | ' | ' | 3,000,000 | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,147,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, authorized | ' | ' | 15,000,000 | 15,000,000 | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares, outstanding | ' | ' | 9,664,972 | 9,664,972 | 7,944,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, percentage of outstanding common shares | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program, number of shares authorized to be repurchased | ' | 332,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock, number of shares held | ' | ' | 328,194 | 328,194 | 328,194,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock, value | ' | ' | $6,092,000 | $6,092,000 | $6,092,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of market value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' |
Preferred Share Purchase Right dividend, per share | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized shares under the Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' |
Shares purchased under the Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,936 | 13,795 | ' | ' | ' |
Regulatory_Capital_Details
Regulatory Capital - (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Consolidated Entities [Member] | ' | ' |
Total capital (risk weighted) | ' | ' |
Total capital (risk weighted) | $112,795 | $114,425 |
Total capital (risk weighted) (ratio) | 12.89% | 12.47% |
Well Capitalized, Total capital (risk weighted) | 95,290 | 91,779 |
Well Capitalized, Total capital (risk weighted) (ratio) | 10.00% | 10.00% |
Minimum Required, Total capital (risk weighted) | 76,232 | 73,423 |
Minimum Required, Total capital (risk weighted) (ratio) | 8.00% | 8.00% |
Tier 1 capital (risk weighted) | ' | ' |
Tier 1 capital (risk weighted) | 110,815 | 102,877 |
Tier 1 capital (risk weighted) (ratio) | 11.63% | 11.21% |
Well Capitalized, Tier 1 capital (risk weighted) | 57,174 | 55,067 |
Well Capitalized, Tier 1 capital (risk weighted) (ratio) | 6.00% | 6.00% |
Minimum Required, Tier 1 capital (risk weighted) | 38,116 | 36,712 |
Minimum Required, Tier 1 capital (risk weighted) (ratio) | 4.00% | 4.00% |
Tier 1 capital (average assets) | ' | ' |
Tier 1 capital (average assets) | 110,815 | 102,877 |
Tier 1 capital (average assets) (ratio) | 9.22% | 8.79% |
Well Capitalized, Tier 1 capital (average assets) | 60,108 | 58,525 |
Well Capitalized, Tier 1 capital (average assets) (ratio) | 5.00% | 5.00% |
Minimum Required, Tier 1 capital (average assets) | 48,086 | 46,820 |
Minimum Required, Tier 1 capital (average assets) (ratio) | 4.00% | 4.00% |
Bank [Member] | ' | ' |
Total capital (risk weighted) | ' | ' |
Total capital (risk weighted) | 116,064 | 112,150 |
Total capital (risk weighted) (ratio) | 12.19% | 12.23% |
Well Capitalized, Total capital (risk weighted) | 95,236 | 91,727 |
Well Capitalized, Total capital (risk weighted) (ratio) | 10.00% | 10.00% |
Minimum Required, Total capital (risk weighted) | 76,189 | 73,382 |
Minimum Required, Total capital (risk weighted) (ratio) | 8.00% | 8.00% |
Tier 1 capital (risk weighted) | ' | ' |
Tier 1 capital (risk weighted) | 104,090 | 100,608 |
Tier 1 capital (risk weighted) (ratio) | 10.93% | 10.97% |
Well Capitalized, Tier 1 capital (risk weighted) | 57,142 | 55,036 |
Well Capitalized, Tier 1 capital (risk weighted) (ratio) | 6.00% | 6.00% |
Minimum Required, Tier 1 capital (risk weighted) | 38,094 | 36,691 |
Minimum Required, Tier 1 capital (risk weighted) (ratio) | 4.00% | 4.00% |
Tier 1 capital (average assets) | ' | ' |
Tier 1 capital (average assets) | 104,090 | 100,608 |
Tier 1 capital (average assets) (ratio) | 8.66% | 8.60% |
Well Capitalized, Tier 1 capital (average assets) | 60,068 | 58,462 |
Well Capitalized, Tier 1 capital (average assets) (ratio) | 5.00% | 5.00% |
Minimum Required, Tier 1 capital (average assets) | $48,054 | $46,769 |
Minimum Required, Tier 1 capital (average assets) (ratio) | 4.00% | 4.00% |
Parent_Company_Financial_Infor2
Parent Company Financial Information - Condensed Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ' | ' |
Other assets (Note 13) | $13,046 | $10,946 | ' | ' |
Total Assets | 1,230,257 | 1,178,254 | ' | ' |
Liabilities and Shareholdersb Equity | ' | ' | ' | ' |
Short Term borrowing | 4,576 | 1,115 | ' | ' |
Shareholdersb equity | 111,456 | 110,144 | 113,274 | 109,464 |
Total Liabilities and Shareholdersb Equity | 1,230,257 | 1,178,254 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash | 9,320 | 2,001 | ' | ' |
Investment in The Lorain National Bank | 120,969 | 124,113 | ' | ' |
Other assets (Note 13) | 531 | 505 | ' | ' |
Total Assets | 130,820 | 126,619 | ' | ' |
Liabilities and Shareholdersb Equity | ' | ' | ' | ' |
Junior subordinated debentures | 16,238 | 16,238 | ' | ' |
Short Term borrowing | 3,000 | 0 | ' | ' |
Other liabilities | 126 | 237 | ' | ' |
Shareholdersb equity | 111,456 | 110,144 | ' | ' |
Total Liabilities and Shareholdersb Equity | $130,820 | $126,619 | ' | ' |
Parent_Company_Financial_Infor3
Parent Company Financial Information - Condensed Statements of Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $9,035 | $8,775 | $9,009 | $8,704 | $9,188 | $9,663 | $9,933 | $9,655 | $35,523 | $38,439 | $39,241 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 1,490 | 1,529 | 1,567 | 1,570 | 1,732 | 1,843 | 1,912 | 2,022 | 6,156 | 7,509 | 10,108 |
Income (loss) before income taxes and equity in undistributed net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 8,087 | 8,041 | 6,159 |
Income tax expense (benefit) | 577 | 471 | 586 | 292 | 491 | 538 | 324 | 581 | 1,926 | 1,934 | 1,156 |
Net income | 1,706 | 1,519 | 1,823 | 1,113 | 1,639 | 1,525 | 1,438 | 1,505 | 6,161 | 6,107 | 5,003 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 160 |
Cash dividend from The Lorain National Bank | ' | ' | ' | ' | ' | ' | ' | ' | 3,875 | 7,650 | 0 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 21 | 21 |
Total Income | ' | ' | ' | ' | ' | ' | ' | ' | 3,895 | 7,671 | 181 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 689 | 699 | 687 |
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 843 | 752 | 357 |
Total Expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,532 | 1,451 | 1,044 |
Income (loss) before income taxes and equity in undistributed net income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 2,363 | 6,220 | -863 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -514 | -486 | -304 |
Equity in undistributed net income (loss) of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 3,284 | -599 | 5,562 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $6,161 | $6,107 | $5,003 |
Parent_Company_Financial_Infor4
Parent Company Financial Information - Condensed Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net income | $6,161 | $6,107 | $5,003 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Share-based compensation expense | 271 | 310 | 189 |
Net cash provided by operating activities | 19,931 | 13,089 | 25,124 |
Investing Activities | ' | ' | ' |
Net cash provided by (used in) investing activities | -49,216 | -27,901 | -43,314 |
Financing Activities | ' | ' | ' |
Repurchase of warrants | 0 | -860 | ' |
Net proceeds from issuance of common stock | 3,682 | 0 | 0 |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -1,467 | -6,159 | 0 |
Dividends paid | -975 | -1,568 | -1,576 |
Net cash provided by financing activities | 50,898 | 4,824 | 10,269 |
Net increase (decrease) in cash equivalents | 21,613 | -9,988 | -7,921 |
Parent Company [Member] | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' |
Net income | 6,161 | 6,107 | 5,003 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Equity in undistributed net income (loss) of subsidiary | -3,284 | 599 | -5,562 |
Share-based compensation expense | 271 | 311 | 189 |
Net change in other assets and liabilities | -61 | 883 | -25 |
Net cash provided by operating activities | 3,087 | 7,900 | -395 |
Investing Activities | ' | ' | ' |
Payments from The Lorain National Bank for subordinated debt instrument | 0 | 0 | 4,000 |
Net cash provided by (used in) investing activities | 0 | 0 | 4,000 |
Financing Activities | ' | ' | ' |
Net change in purchased funds and other borrowings | 3,000 | 0 | 0 |
Repurchase of warrants | 0 | -860 | 0 |
Net proceeds from issuance of common stock | 3,644 | 0 | 0 |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -1,467 | -6,159 | 0 |
Dividends paid | -945 | -1,568 | -1,576 |
Net cash provided by financing activities | 4,232 | -8,587 | -1,576 |
Net increase (decrease) in cash equivalents | 7,319 | -687 | 2,029 |
Cash and cash equivalents at beginning of year | 2,001 | 2,688 | 659 |
Cash and cash equivalents at end of year | $9,320 | $2,001 | $2,688 |
Retirement_Pension_Plan_Schedu
Retirement Pension Plan - Schedule of Pension Plan Disclosures (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Net periodic pension costs charged to expense | $198 | $16 | $11 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Projected benefit obligation at the beginning of the year | -5,944 | -5,641 | -5,610 |
Interest cost on projected benefit obligation | -232 | -254 | -322 |
Actuarial gain (loss) | 279 | -359 | -312 |
Benefits paid | 846 | 310 | 603 |
Projected benefit obligation at the end of the year | -5,051 | -5,944 | -5,641 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of year | 5,678 | 5,251 | 5,756 |
Actual gain on plan assets | 904 | 237 | 98 |
Employer contributions | 0 | 500 | 0 |
Benefits paid | -846 | -310 | -603 |
Fair value of plan assets at end of year | 5,736 | 5,678 | 5,251 |
Funded status (included in accrued liabilities or prepaid assets) | 685 | -265 | -390 |
Unrecognized actuarial loss in accumulated other comprehensive income | $1,964 | $3,114 | $2,754 |
Retirement_Pension_Plan_Schedu1
Retirement Pension Plan - Schedule of Net Periodic Pension Costs (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Interest cost on projected benefit obligation | $232 | $254 | $322 |
Expected return on plan benefits | -414 | -383 | -442 |
Actuarial loss/(gain) | 227 | 145 | 131 |
Net Periodic Pension Cost | 45 | 16 | 11 |
Settlements | 153 | 0 | 0 |
Total Benefit Cost | $198 | $16 | $11 |
Retirement_Pension_Plan_Schedu2
Retirement Pension Plan - Schedule of Pension Liability Adjustments Recognized in Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Amortization of unrecognized actuarial loss | $227 | $145 | $131 |
Current deferral of gains | -1,377 | 214 | 393 |
Pension liability adjustments recognized in comprehensive income | -1,150 | 359 | 524 |
Tax effect | 391 | -122 | -178 |
Net pension liability adjustments | ($759) | $237 | $346 |
Retirement_Pension_Plan_Schedu3
Retirement Pension Plan - Schedule of Weighted Average Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Weighted average discount rate | 4.00% | 4.50% | 5.75% |
Expected long-term rate of return on plan assets | 7.50% | 7.50% | 7.50% |
Assumed rate of future compensation increases | 0.00% | 0.00% | 0.00% |
Retirement_Pension_Plan_Schedu4
Retirement Pension Plan - Schedule of Weighted Average Assets Allocations (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Weighted-average assets allocations | 100.00% | 100.00% | 100.00% |
Target plan asset allocations for 2013 | 40.00% | ' | ' |
Preferred securities | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Weighted-average assets allocations | 73.50% | 70.10% | 63.50% |
Target plan asset allocations for 2013 | 60.00% | ' | ' |
Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Weighted-average assets allocations | 25.00% | 27.60% | 34.90% |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Weighted-average assets allocations | 1.50% | 2.30% | 1.60% |
Common Stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Weighted-average assets allocations | 0.00% | 0.00% | 0.00% |
Retirement_Pension_Plan_Schedu5
Retirement Pension Plan - Schedule of Estimated Future Benefit Payments (Details) (USD $) | Dec. 31, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' |
2013 | $318 |
2014 | 306 |
2015 | 296 |
2016 | 281 |
2017 | 271 |
2018 and thereafter | $1,228 |
Retirement_Pension_Plan_Schedu6
Retirement Pension Plan - Schedule of Supplemental Executive Retirement Plan Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Pension and Other Postretirement Benefit Expense | $198 | $16 | $11 |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Pension and Other Postretirement Benefit Expense | $712 | ' | ' |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2006 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation cost not yet recognized | $480 | $377 | ' | ' |
Compensation cost not yet recognized, period for recognition | '9 months 26 days | ' | ' | ' |
Fair value of shares vested | 305 | 192 | ' | ' |
Options granted (in shares) | 137,363 | 35,000 | ' | ' |
Stock options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expense recorded for stock options | 60 | 14 | 1 | ' |
Maximum option term | '10 years | ' | ' | ' |
General vesting period | '3 years | ' | ' | ' |
Weighted average fair value of options granted | $2.48 | ' | ' | ' |
Total intrinsic value of options exercised | 0 | ' | ' | ' |
Total intrinsic value of options outstanding | 283 | ' | ' | ' |
Restricted stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expense recorded for stock options | 201 | 296 | 188 | ' |
Shares issued | 10,000 | 62,105 | 40,000 | ' |
Forfeited due to employee terminations | 7,500 | ' | 2,500 | ' |
Purchase price of long term restricted share | $9.48 | $5.39 | $5.28 | ' |
Number of installment | 2 | ' | ' | ' |
Stock appreciation rights (SARs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expense recorded for stock options | $4 | $0 | $0 | ' |
Maximum option term | '10 years | ' | ' | ' |
General vesting period | '3 years | ' | ' | ' |
Purchase price of long term restricted share | $10,000 | ' | ' | ' |
Stock appreciation rights shares issued | ' | ' | ' | 30,000 |
Stock appreciation rights price of long term restricted share | ' | ' | ' | $19 |
Shares expired due to employee terminations | ' | ' | ' | 15,500 |
ShareBased_Compensation_Fair_V
Share-Based Compensation - Fair Value of Options Granted Determined by using Weighted-Average Assumptions (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Dividend yield | 2.71% | 3.38% |
Expected volatility | 35.58% | 33.00% |
Risk free interest rate | 1.37% | 1.27% |
ShareBased_Compensation_Summar
Share-Based Compensation - Summary of Options Outstanding (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding, Number (in shares) | 337,696 |
Weighted Average Remaining Contractual Life | '5 years 11 months 23 days |
Exercisable, Number (in shares) | 186,167 |
Weighted Average Exercise Price (in usd per share) | $15.56 |
5.34-5.39 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum (in usd per share) | $5.34 |
Range of exercise prices, maximum (in usd per share) | $5.39 |
Outstanding, Number (in shares) | 37,500 |
Weighted Average Remaining Contractual Life | '7 years 10 months 28 days |
Exercisable, Number (in shares) | 14,167 |
Weighted Average Exercise Price (in usd per share) | $5.38 |
9.07-9.56 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding, Number (in shares) | 128,196 |
Weighted Average Remaining Contractual Life | '9 years 4 months 28 days |
Exercisable, Number (in shares) | 0 |
Weighted Average Exercise Price (in usd per share) | $0 |
14.47 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price (in usd per share) | $14.47 |
Outstanding, Number (in shares) | 79,500 |
Weighted Average Remaining Contractual Life | '4 years 1 month 6 days |
Exercisable, Number (in shares) | 79,500 |
Weighted Average Exercise Price (in usd per share) | $14.47 |
15.35-16.50 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum (in usd per share) | $15.35 |
Range of exercise prices, maximum (in usd per share) | $16.50 |
Outstanding, Number (in shares) | 32,500 |
Weighted Average Remaining Contractual Life | '2 years 11 months 16 days |
Exercisable, Number (in shares) | 32,500 |
Weighted Average Exercise Price (in usd per share) | $16.04 |
19.10 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price (in usd per share) | $19.10 |
Outstanding, Number (in shares) | 30,000 |
Weighted Average Remaining Contractual Life | '2 years 1 month 2 days |
Exercisable, Number (in shares) | 30,000 |
Weighted Average Exercise Price (in usd per share) | $19.10 |
19.17 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price (in usd per share) | $19.17 |
Outstanding, Number (in shares) | 30,000 |
Weighted Average Remaining Contractual Life | '1 year 1 month 2 days |
Exercisable, Number (in shares) | 30,000 |
Weighted Average Exercise Price (in usd per share) | $19.17 |
ShareBased_Compensation_Summar1
Share-Based Compensation - Summary of Stock Options (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at beginning of period, shares | 232,000 | 197,000 |
Granted, shares | 137,363 | 35,000 |
Forfeited or expired, shares | -31,667 | 0 |
Exercised, shares | 0 | 0 |
Stock dividend or split | 0 | 0 |
Outstanding at end of period, shares | 337,696 | 232,000 |
Exercisable at end of period, shares | 186,167 | 197,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' |
Outstanding at beginning of period, Weighted Average Exercise Price Per Share | $14.50 | $16.12 |
Granted, Weighted Average Exercise Price Per Share | $9.18 | $5.39 |
Weighted Average Exercise Price per Share, forfeited or cancelled | $13.46 | $0 |
Weighted Average Exercise Price per Share, exercised | $0 | $0 |
Weighted Average Exercise Price per Share, stock dividend or split | $0 | $0 |
Outstanding at end of period, weighted average exercise price per share | $12.43 | $14.50 |
Weighted Average Exercise Price per Share, Exercisable | $15.56 | $16.12 |
ShareBased_Compensation_Summar2
Share-Based Compensation - Summary of the Status of Restricted Shares (Detail) (Restricted stock [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Nonvested Shares, beginning balance (in shares) | 143,031 | ' | ' |
Nonvested Shares, Granted (in shares) | 10,000 | 62,105 | 40,000 |
Nonvested Shares, Vested (in shares) | -62,176 | ' | ' |
Nonvested Shares, Forfeited or expired (in shares) | -7,500 | ' | -2,500 |
Nonvested Shares, ending balance (in shares) | 83,355 | 143,031 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted Average Exercise Price per Share, Beginning balance | $5.07 | ' | ' |
Weighted Average Exercise Price per Share, Granted | $9.48 | $5.39 | $5.28 |
Weighted Average Exercise Price per Share, Vested | $4.68 | ' | ' |
Weighted Average Exercise Price per Share, Forfeited or expired | $5.35 | ' | ' |
Weighted Average Exercise Price per Share, Ending balance | $5.86 | $5.07 | ' |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2007 | Jan. 01, 2001 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
401(k) Plan, treasury shares authorized to be purchased | ' | ' | ' | ' | 80,000 |
401(k) Plan, shares purchased out of Treasury | 0 | 0 | 0 | ' | ' |
401(k) Plan, employer matching contribution, percent of match | ' | ' | ' | 50.00% | ' |
401(k) Plan, employer matching contribution, percent of employee's wage | ' | ' | ' | 6.00% | ' |
401(k) Plan, maximum annual contributions per employee, percent | 3.00% | ' | ' | ' | ' |
401(k) Plan [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' |
401(k) Plan, employer matching contributions | 467 | 410 | 395 | ' | ' |
Financial_Instruments_with_Off2
Financial Instruments with Off Balance Sheet Risk and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitment expiration date, minimum | '30 days |
Commitment expiration date, maximum | '120 days |
Derivative [Line Items] | ' |
Fair value of interest rate swaps | $222 |
Interest Rate Swap [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of interest rate derivatives | $11,646 |
Financial_Instruments_with_Off3
Financial Instruments with Off Balance Sheet Risk and Contingencies - Summary of The Contractual Amount of Commitments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | $182,062 | $163,932 |
Commitments to extend credit | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | 84,283 | 74,206 |
Home Equity Loans | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | 89,331 | 81,041 |
Standby letters of credit | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | $8,448 | $8,685 |
Estimated_Fair_Value_of_Financ2
Estimated Fair Value of Financial Instruments - Summary of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Securities | $216,122 | $203,763 |
Accrued interest payable | 789 | 882 |
Carrying Value [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks | 52,272 | ' |
Securities | 216,122 | ' |
Restricted stock | 5,741 | 5,741 |
Portfolio loans, net | 884,794 | 864,911 |
Loans held for sale | 4,483 | 7,634 |
Accrued interest receivable | 3,621 | 3,726 |
Demand, savings and money market | 542,739 | 517,181 |
Certificates of deposit | 502,850 | 482,411 |
Short-term borrowings | 4,576 | 1,115 |
Federal Home Loan Bank advances | 46,708 | 46,508 |
Junior subordinated debentures | 16,238 | 16,238 |
Accrued interest payable | 789 | 882 |
Estimated Fair Value [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks | 52,272 | 30,659 |
Securities | 216,122 | 203,763 |
Restricted stock | 5,741 | 6 |
Portfolio loans, net | 884,211 | 868,716 |
Loans held for sale | 4,487 | 7,891 |
Accrued interest receivable | 3,621 | 3,726 |
Demand, savings and money market | 542,739 | 511,665 |
Certificates of deposit | 504,381 | 485,394 |
Short-term borrowings | 4,576 | 1,115 |
Federal Home Loan Bank advances | 46,923 | 46,828 |
Junior subordinated debentures | 16,778 | 17,197 |
Accrued interest payable | 789 | 882 |
Level 1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks | 52,272 | ' |
Securities | ' | ' |
Restricted stock | ' | ' |
Portfolio loans, net | ' | ' |
Loans held for sale | ' | ' |
Accrued interest receivable | ' | ' |
Demand, savings and money market | ' | ' |
Certificates of deposit | ' | ' |
Short-term borrowings | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Junior subordinated debentures | ' | ' |
Accrued interest payable | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks | ' | ' |
Securities | 211,438 | ' |
Restricted stock | 5,741 | ' |
Portfolio loans, net | ' | ' |
Loans held for sale | 4,487 | ' |
Demand, savings and money market | 542,739 | ' |
Certificates of deposit | 504,381 | ' |
Short-term borrowings | 4,576 | ' |
Federal Home Loan Bank advances | 46,923 | ' |
Junior subordinated debentures | 16,778 | ' |
Accrued interest payable | 0 | ' |
Level 3 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks | ' | ' |
Securities | 4,684 | ' |
Restricted stock | ' | ' |
Portfolio loans, net | 884,211 | ' |
Loans held for sale | 0 | ' |
Accrued interest receivable | 3,621 | ' |
Demand, savings and money market | ' | ' |
Certificates of deposit | ' | ' |
Short-term borrowings | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Junior subordinated debentures | ' | ' |
Accrued interest payable | $789 | ' |
Estimated_Fair_Value_of_Financ3
Estimated Fair Value of Financial Instruments - Assets Measured by Fair Value on a Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | $216,122 | $203,763 |
Estimated Fair Value [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 216,344 | 203,763 |
Estimated Fair Value [Member] | U.S. Government agencies and corporations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 65,388 | 36,970 |
Estimated Fair Value [Member] | Mortgage backed securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 94,430 | 111,701 |
Estimated Fair Value [Member] | Collateralized mortgage obligations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 18,655 | 22,881 |
Estimated Fair Value [Member] | Preferred securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 4,684 | ' |
Estimated Fair Value [Member] | State and political subdivisions | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 32,965 | 32,211 |
Estimated Fair Value [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 222 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government agencies and corporations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage backed securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized mortgage obligations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | State and political subdivisions | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 211,660 | 203,763 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government agencies and corporations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 65,388 | ' |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage backed securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 94,430 | ' |
Significant Other Observable Inputs (Level 2) [Member] | Collateralized mortgage obligations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 18,655 | ' |
Significant Other Observable Inputs (Level 2) [Member] | State and political subdivisions | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 32,965 | ' |
Significant Other Observable Inputs (Level 2) [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 222 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 4,684 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government agencies and corporations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage backed securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Collateralized mortgage obligations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Preferred securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 4,684 | ' |
Significant Unobservable Inputs (Level 3) [Member] | State and political subdivisions | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value | $0 | ' |
Estimated_Fair_Value_of_Financ4
Estimated Fair Value of Financial Instruments - Balances of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Impaired and nonaccrual loans | $21,986 | $27,796 |
Other real estate | 579 | 1,366 |
Total assets at fair value on a nonrecurring basis | 23,577 | 29,162 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Impaired and nonaccrual loans | 0 | 0 |
Other real estate | 0 | 0 |
Total assets at fair value on a nonrecurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Impaired and nonaccrual loans | 0 | 0 |
Other real estate | 0 | 0 |
Total assets at fair value on a nonrecurring basis | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Impaired and nonaccrual loans | 21,986 | 27,796 |
Other real estate | 579 | 1,366 |
Total assets at fair value on a nonrecurring basis | $23,577 | $29,162 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest income | $10,525 | $10,304 | $10,576 | $10,274 | $10,920 | $11,506 | $11,845 | $11,677 | $41,679 | $45,948 | $49,349 |
Total interest expense | 1,490 | 1,529 | 1,567 | 1,570 | 1,732 | 1,843 | 1,912 | 2,022 | 6,156 | 7,509 | 10,108 |
Net Interest Income | 9,035 | 8,775 | 9,009 | 8,704 | 9,188 | 9,663 | 9,933 | 9,655 | 35,523 | 38,439 | 39,241 |
Provision for loan losses | 1,025 | 950 | 1,050 | 1,350 | 1,800 | 1,875 | 1,667 | 1,900 | 4,375 | 7,242 | 10,353 |
Net interest income after provision for loan losses | 8,010 | 7,825 | 7,959 | 7,354 | 7,388 | 7,788 | 8,266 | 7,755 | 31,148 | 31,197 | 28,888 |
Noninterest income | 3,256 | 2,466 | 3,072 | 3,332 | 3,376 | 2,953 | 2,543 | 2,875 | 12,126 | 11,747 | 11,415 |
Noninterest expense | 8,983 | 8,301 | 8,622 | 9,281 | 8,634 | 8,678 | 9,047 | 8,544 | 35,187 | 34,903 | 34,144 |
Income tax expense (benefit) | 577 | 471 | 586 | 292 | 491 | 538 | 324 | 581 | 1,926 | 1,934 | 1,156 |
Net income | 1,706 | 1,519 | 1,823 | 1,113 | 1,639 | 1,525 | 1,438 | 1,505 | 6,161 | 6,107 | 5,003 |
Preferred stock dividends and accretion | 163 | 109 | 117 | 257 | 310 | 319 | 318 | 319 | 646 | 1,266 | 1,276 |
Net Income Available to Common Shareholders | $1,543 | $1,410 | $1,706 | $856 | $1,329 | $1,206 | $1,120 | $1,186 | $5,515 | $4,841 | $3,727 |
Basic Earnings Per Common Share | $0.18 | $0.15 | $0.18 | $0.10 | $0.17 | $0.15 | $0.14 | $0.15 | $0.61 | $0.61 | $0.47 |
Diluted Earnings Per Common Share | $0.18 | $0.15 | $0.18 | $0.10 | $0.17 | $0.15 | $0.14 | $0.15 | $0.61 | $0.61 | $0.47 |
Dividends declared per common share (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.04 | $0.04 |
Changes_and_Reclassifications_2
Changes and Reclassifications Out of Accumulated Other Comprehensive Income - Changes in AOCI by Component of Comprehensive (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Balance at the beginning of the period | $1,240 | $2,201 | $2,007 |
Amounts recognized in other comprehensive income, net of taxes of $3,227, $430 and $386 | -6,311 | -835 | 749 |
Reclassified amounts out of accumulated other comprehensive income, net of tax of $60, $65 and $286 | 117 | 126 | 555 |
Balance at the end of the period | -5,188 | 1,240 | 2,201 |
Other comprehensive income (loss), before reclassifications, tax | 3,227 | 430 | 386 |
Reclassification from accumulated other comprehensive income, current period, tax | 60 | 65 | 286 |
Unrealized securities gains and losses [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Balance at the beginning of the period | 3,295 | 4,019 | 3,479 |
Amounts recognized in other comprehensive income, net of taxes of $3,227, $430 and $386 | -7,070 | -598 | 1,095 |
Reclassified amounts out of accumulated other comprehensive income, net of tax of $60, $65 and $286 | 117 | 126 | 555 |
Balance at the end of the period | -3,892 | 3,295 | 4,019 |
Pension and post- retirement costs [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Balance at the beginning of the period | -2,055 | -1,818 | -1,472 |
Amounts recognized in other comprehensive income, net of taxes of $3,227, $430 and $386 | 759 | -237 | -346 |
Reclassified amounts out of accumulated other comprehensive income, net of tax of $60, $65 and $286 | 0 | 0 | 0 |
Balance at the end of the period | ($1,296) | ($2,055) | ($1,818) |
Changes_and_Reclassifications_3
Changes and Reclassifications Out of Accumulated Other Comprehensive Income - Reclassifications out of AOCI by Component of Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized (gains) losses on sale of securities | ' | ' | ' | ' | ' | ' | ' | ' | $178 | $189 | $832 |
Income tax expense (benefit) | 577 | 471 | 586 | 292 | 491 | 538 | 324 | 581 | 1,926 | 1,934 | 1,156 |
Reclassified amount, net of tax | 1,543 | 1,410 | 1,706 | 856 | 1,329 | 1,206 | 1,120 | 1,186 | 5,515 | 4,841 | 3,727 |
Effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% | 34.00% |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized (gains) losses on sale of securities | ' | ' | ' | ' | ' | ' | ' | ' | 178 | 189 | 832 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 65 | 286 |
Reclassified amount, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | $118 | $124 | $546 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 17, 2013 | Dec. 31, 2013 | Mar. 15, 2013 | Dec. 31, 2012 | Dec. 12, 2013 | Dec. 12, 2013 | Jan. 17, 2014 | |
Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Purchase Agreement [Member] | Purchase Agreement [Member] | Subsequent Event [Member] | |||
Director [Member] | Series B Preferred Stock [Member] | ||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares sold | ' | ' | ' | ' | ' | ' | 367,321 | ' | ' |
Sale of Stock, Price Per Share | ' | ' | ' | ' | ' | ' | $9.91 | $10.30 | ' |
Sale of Stock, Purchase Price | ' | ' | ' | ' | ' | ' | $3,680,000 | ' | ' |
Stock redeemed (in shares) | 11,191 | 6,343 | 9,147 | 1,458 | ' | ' | ' | ' | ' |
Line of credit borrowings | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock redeemed | ' | ' | ' | ' | ' | ' | ' | ' | 9,147,000 |
Dividends payable | ' | ' | ' | ' | ' | ' | ' | ' | $74,000 |
Preferred stock, shares outstanding | ' | ' | ' | 7,689 | 9,147 | 18,880 | ' | ' | 7,689 |