Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 2-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'LNB BANCORP INC | ' |
Entity Central Index Key | '0000737210 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 9,664,972 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $38,939 | $36,717 |
Federal funds sold and interest bearing deposits in banks | 29,302 | 15,555 |
Cash and cash equivalents (Note 3) | 68,241 | 52,272 |
Securities available for sale, at fair value (Note 5) | 217,510 | 216,122 |
Restricted stock | 5,741 | 5,741 |
Loans held for sale | 1,811 | 4,483 |
Loans: | ' | ' |
Portfolio loans (Note 6) | 910,189 | 902,299 |
Allowance for loan losses (Note 6) | -17,497 | -17,505 |
Net loans | 892,692 | 884,794 |
Bank premises and equipment, net | 8,013 | 8,198 |
Other real estate owned | 979 | 579 |
Bank owned life insurance | 19,532 | 19,362 |
Goodwill, net (Note 4) | 21,582 | 21,582 |
Intangible assets, net (Note 4) | 424 | 457 |
Accrued interest receivable | 3,774 | 3,621 |
Other assets | 15,094 | 13,046 |
Total Assets | 1,255,393 | 1,230,257 |
Deposits: (Note 7) | ' | ' |
Demand and other noninterest-bearing | 149,530 | 148,961 |
Savings, money market and interest-bearing demand | 430,142 | 393,778 |
Time deposits | 497,179 | 502,850 |
Total deposits | 1,076,851 | 1,045,589 |
Short-term borrowings (Note 8) | 3,725 | 4,576 |
Federal Home Loan Bank advances (Note 9) | 46,760 | 46,708 |
Junior subordinated debentures (Note 10) | 16,238 | 16,238 |
Accrued interest payable | 701 | 789 |
Accrued expenses and other liabilities | 4,004 | 4,901 |
Total Liabilities | 1,148,279 | 1,118,801 |
Shareholders’ Equity | ' | ' |
Discount on Series B preferred stock | 0 | -19 |
Common stock, par value $1 per share, authorized 15,000,000 shares, issued 10,001,717 shares at March 31, 2014 and 10,001,717 at December 31, 2013 | 10,002 | 10,002 |
Additional paid-in capital | 51,166 | 51,098 |
Retained earnings | 55,440 | 53,966 |
Accumulated other comprehensive income (loss) | -3,317 | -5,188 |
Treasury shares at cost, 336,745 shares at March 31, 2014 and 328,194 shares at December 31, 2013 | -6,177 | -6,092 |
Total Shareholders’ Equity | 107,114 | 111,456 |
Total Liabilities and Shareholders’ Equity | 1,255,393 | 1,230,257 |
Preferred stock, Series A Voting, no par value, authorized 150,000 shares, none issued at March 31, 2014 and December 31, 2013. | ' | ' |
Shareholders’ Equity | ' | ' |
Preferred stock | 0 | 0 |
Fixed rate cumulative preferred stock, Series B, no par value, $1,000 liquidation value, no shares were issued at March 31, 2014 and 7,689 shares authorized and issued at December 31, 2013 | ' | ' |
Shareholders’ Equity | ' | ' |
Preferred stock | $0 | $7,689 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, authorized | 15,000,000 | 15,000,000 |
Common stock, issued | 10,001,717 | 10,001,717 |
Treasury stock, shares | 336,745 | 328,194 |
Preferred stock, Series A Voting, no par value, authorized 150,000 shares, none issued at March 31, 2014 and December 31, 2013. | ' | ' |
Preferred Stock, No Par Value | ' | ' |
Preferred stock, shares authorized | 150,000 | 150,000 |
Preferred stock, shares issued | 0 | 0 |
Fixed rate cumulative preferred stock, Series B, no par value, $1,000 liquidation value, no shares were issued at March 31, 2014 and 7,689 shares authorized and issued at December 31, 2013 | ' | ' |
Preferred stock, shares authorized | 7,689 | 7,689 |
Preferred stock, shares issued | 0 | 7,689 |
Preferred stock, Series B, liquidation value (in dollars per share) | $1,000 | $1,000 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest and Dividend Income | ' | ' |
Loans | $8,928 | $9,054 |
Securities: | ' | ' |
U.S. Government agencies and corporations | 1,028 | 841 |
State and political subdivisions | 303 | 289 |
Other debt and equity securities | 117 | 70 |
Federal funds sold and short-term investments | 17 | 20 |
Total interest income | 10,393 | 10,274 |
Interest Expense | ' | ' |
Deposits | 1,082 | 1,249 |
Federal Home Loan Bank advances | 155 | 154 |
Short-term borrowings | 26 | 1 |
Junior subordinated debentures | 169 | 166 |
Total interest expense | 1,432 | 1,570 |
Net Interest Income | 8,961 | 8,704 |
Provision for Loan Losses (Note 6) | 900 | 1,350 |
Net interest income after provision for loan losses | 8,061 | 7,354 |
Noninterest Income | ' | ' |
Investment and trust services | 400 | 375 |
Deposit service charges | 770 | 816 |
Other service charges and fees | 753 | 831 |
Income from bank owned life insurance | 169 | 168 |
Other income (loss) | 151 | 321 |
Total fees and other income | 2,243 | 2,511 |
Securities gains, net (Note 5) | 0 | 178 |
Gains on sale of loans | 703 | 656 |
Loss on sale of other assets, net | -34 | -13 |
Total noninterest income | 2,912 | 3,332 |
Noninterest Expense | ' | ' |
Salaries and employee benefits | 4,595 | 5,027 |
Furniture and equipment | 1,148 | 949 |
Net occupancy | 613 | 588 |
Professional fees | 494 | 490 |
Marketing and public relations | 400 | 289 |
Supplies, postage and freight | 214 | 307 |
Telecommunications | 151 | 162 |
Intangible asset amortization | 33 | 33 |
Ohio franchise tax | 224 | 308 |
FDIC assessments | 272 | 242 |
Other real estate owned | 24 | 77 |
Loan and collection expense | 298 | 388 |
Other expense | 393 | 421 |
Total noninterest expense | 8,859 | 9,281 |
Income before income tax expense | 2,114 | 1,405 |
Income tax expense | 508 | 292 |
Net Income | 1,606 | 1,113 |
Other comprehensive income (loss), net of taxes: | ' | ' |
Changes in unrealized securities' holding gain (loss) net of taxes | 1,871 | -714 |
Less: reclassification adjustments for securities' gains realized in net income, | 0 | 117 |
Total other comprehensive income (loss), net of taxes | 1,871 | -831 |
Comprehensive income (loss) | 3,477 | 282 |
Net Income | 1,606 | 1,113 |
Dividends and accretion on preferred stock | 35 | 257 |
Net Income Available to Common Shareholders | $1,571 | $856 |
Net Income Per Common Share (Note 2) | ' | ' |
Basic (in dollars per share) | $0.16 | $0.10 |
Diluted (in dollars per share) | $0.16 | $0.10 |
Dividends declared (in dollars per share) | $0.01 | $0.01 |
Average Common Shares Outstanding | ' | ' |
Basic (in shares) | 9,668,297 | 8,201,120 |
Diluted (in shares) | 9,705,432 | 8,212,038 |
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 |
In Thousands, unless otherwise specified | ||||||||
Beginning balance at Dec. 31, 2012 | $110,144 | $18,815 | $0 | $8,273 | $39,141 | $48,767 | $1,240 | ($6,092) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 1,113 | ' | ' | ' | ' | 1,113 | ' | ' |
Other comprehensive income (loss), net of tax | -831 | ' | ' | ' | ' | ' | -831 | ' |
Share-based compensation | 72 | ' | ' | ' | 72 | ' | ' | ' |
Issuance of common stock (1,359,348 shares) | 9,733 | ' | ' | 1,359 | 8,374 | ' | ' | ' |
Redemption of preferred stock | -9,694 | -9,701 | ' | ' | ' | 7 | ' | ' |
Preferred dividends and accretion of discount | -253 | 4 | ' | ' | ' | -257 | ' | ' |
Common dividends declared, $.01 per share | -79 | ' | ' | ' | ' | -79 | ' | ' |
Ending balance at Mar. 31, 2013 | 110,205 | 9,118 | 0 | 9,632 | 47,587 | 49,551 | 409 | -6,092 |
Beginning balance at Dec. 31, 2013 | 111,456 | 7,670 | 0 | 10,002 | 51,098 | 53,966 | -5,188 | -6,092 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 1,606 | ' | ' | ' | ' | 1,606 | ' | ' |
Other comprehensive income (loss), net of tax | 1,871 | ' | ' | ' | ' | ' | 1,871 | ' |
Share-based compensation | 68 | ' | ' | ' | 68 | ' | ' | ' |
Purchase of treasury stock | -85 | ' | ' | ' | ' | ' | ' | -85 |
Redemption of preferred stock | -7,689 | -7,689 | ' | ' | ' | ' | ' | ' |
Preferred dividends and accretion of discount | -16 | 19 | ' | ' | ' | -35 | ' | ' |
Common dividends declared, $.01 per share | -97 | ' | ' | ' | ' | -97 | ' | ' |
Ending balance at Mar. 31, 2014 | $107,114 | $0 | $0 | $10,002 | $51,166 | $55,440 | ($3,317) | ($6,177) |
CONSOLIDATED_STATEMENTS_OF_SHA1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Statement of Stockholders' Equity [Abstract] | ' | ' |
Issuance of common stock (in shares) | ' | 1,359,348 |
Redemption of preferred stock (in shares) | 7,689 | 9,733 |
Dividends declared (in dollars per share) | $0.01 | $0.01 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities | ' | ' |
Net income | $1,606 | $1,113 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 900 | 1,350 |
Depreciation and amortization | 232 | 262 |
Amortization (accretion) of premiums and discounts | 460 | 512 |
Amortization of intangibles | 33 | 33 |
Amortization of loan servicing rights | 72 | 86 |
Amortization of deferred loan fees | -43 | -114 |
Income from cash surrender value of bank-owned life insurance policies | -169 | -168 |
Federal deferred income tax expense (benefit) | 191 | 860 |
Securities gains, net | 0 | -178 |
Share-based compensation expense | 68 | 72 |
Loans originated for sale | -18,361 | -29,879 |
Proceeds from sales of loan originations | 21,734 | 31,919 |
Net gain from loan sales | -703 | -656 |
Net loss on sale of other assets | 34 | 13 |
Net decrease (increase) in accrued interest receivable and other assets | -3,237 | -4,054 |
Net increase (decrease) in accrued interest payable, taxes and other liabilities | -1,176 | 2,493 |
Net cash provided by operating activities | 1,641 | 3,664 |
Investing Activities | ' | ' |
Proceeds from sales of available-for-sale securities | 0 | 2,280 |
Proceeds from maturities of available-for-sale securities | 11,387 | 31,171 |
Purchase of available-for-sale securities | -10,399 | -54,455 |
Net increase in loans made to customers | -9,364 | -8,453 |
Proceeds from the sale of other real estate owned | 172 | 141 |
Purchase of bank premises and equipment | -53 | -129 |
Proceeds from sale of bank premises and equipment | 9 | 0 |
Net cash provided by (used in) investing activities | -8,248 | -29,445 |
Financing Activities | ' | ' |
Net increase (decrease) in demand and other noninterest-bearing | 569 | -3,581 |
Net increase in savings, money market and interest-bearing demand | 36,364 | 19,793 |
Net decrease in certificates of deposit | -5,671 | 33,372 |
Net increase (decrease) in short-term borrowings | -851 | 774 |
Proceeds from Federal Home Loan Bank advances | 0 | 53 |
Payment of Federal Home Loan Bank advances | 52 | -3 |
Redemption of Fixed-Rate Cumulative Perpetual Preferred stock | -7,670 | 0 |
Purchase of Treasury Stock | -85 | 0 |
Dividends paid | -132 | -332 |
Net cash provided by financing activities | 22,576 | 50,076 |
Net increase (decrease) in cash and cash equivalents | 15,969 | 24,295 |
Cash and cash equivalents, January 1 | 52,272 | 30,659 |
Cash and cash equivalents, March 31 | 68,241 | 54,954 |
Supplemental cash flow information | ' | ' |
Interest paid | 1,520 | 1,623 |
Income taxes paid | 0 | 465 |
Transfer of loans to other real estate owned | $609 | $40 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
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. | |
The accounting and reporting policies followed in the presentation of the accompanying Unaudited Consolidated Financial Statements are consistent with those described in Note 1 of the Notes to the Consolidated Financial Statements in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013, as updated by the information contained in this Form 10-Q. Management has evaluated all significant events and transactions that occurred after March 31, 2014, for potential recognition or disclosure in these consolidated financial statements. In the opinion of management, these consolidated financial statements reflect all adjustments necessary to present fairly such information for the periods and dates indicated. Such adjustments are normal and recurring in nature. The Consolidated Balance Sheet at December 31, 2013, contained herein has been derived from the audited Consolidated Balance Sheet included in Corporation’s Annual Report on Form 10-K. | |
The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, due in part to seasonal variations and unusual or infrequently occurring items. | |
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. | |
New Accounting Pronouncements: | |
In January 2014, the Financial Accounting Standards Board issued an accounting standards update allowing entities to make an accounting policy election with respect to using the proportional amortization method for investments in qualified affordable housing projects, if certain conditions are met. This standard will be effective for public companies for interim and annual periods beginning after December 15, 2014. The Corporation will adopt this new guidance as required, and it is not expected to have a material impact on the Corporation's Consolidated Financial Statements. | |
Also in January 2014, the Financial Accounting Standards Board issued an accounting standards update clarifying guidance for in substance repossessions and foreclosures, and requiring additional disclosures regarding foreclosed residential real estate property and recorded investments in consumer mortgage loans collateralized by residential real estate in the process of foreclosure. This standard will be effective for public companies for interim and annual periods beginning after December 15, 2014. The Corporation will adopt this new guidance as required, and it is not expected to have a material impact on the Corporation's Consolidated Financial Statements. |
Earnings_Per_Common_Share
Earnings Per Common Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Common Share | ' | |||||||
Earnings Per Common Share | ||||||||
The Corporation calculates earnings per common share (EPS) using the two-class method. The two-class method allocates net income to each class of Common Stock and participating security according to the common dividends declared and participation rights in undistributed earnings. Participating securities consist of unvested stock-based payment awards that contain nonforfeitable rights to dividends. The Corporation also uses the treasury stock method to calculate dilutive EPS. The treasury stock method assumes that the Corporation uses the proceeds from a hypothetical exercise of options to repurchase Common Stock at the average market price during the period. The reconciliation between basic and diluted earnings per share is presented as follows (Dollars in thousands, except per share data) : | ||||||||
Three Months Ended | ||||||||
31-Mar-14 | 31-Mar-13 | |||||||
Basic EPS | ||||||||
Net income | $ | 1,606 | $ | 1,113 | ||||
Less: | ||||||||
Preferred stock dividend and accretion | 35 | 257 | ||||||
Income allocated to participating securities | 6 | 11 | ||||||
Net income allocated to common shareholders | $ | 1,565 | $ | 845 | ||||
Average common shares outstanding | 9,668,297 | 8,201,120 | ||||||
Less: participating shares included in average common shares outstanding | 53,169 | 117,031 | ||||||
Average common shares outstanding used in basic EPS | 9,615,128 | 8,084,089 | ||||||
Basic net income per common share | $ | 0.16 | $ | 0.1 | ||||
Diluted EPS: | ||||||||
Income used in diluted earnings per share calculation | $ | 1,565 | $ | 845 | ||||
Average common shares outstanding | 9,668,297 | 8,201,120 | ||||||
Add: Common Stock equivalents: | ||||||||
Stock Options | 37,135 | 10,918 | ||||||
Average common stock shares outstanding | 9,705,432 | 8,212,038 | ||||||
Diluted earnings per common share | $ | 0.16 | $ | 0.1 | ||||
For the three months ended March 31, 2014, approximately 172,000 of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive. For the three months ended March 31, 2013, approximately 194,500 of options to purchase shares of common stock were not included in the computation of diluted earnings per share because the effect would be antidilutive. |
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2014 | |
Cash and Cash Equivalents [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
For purposes of the Consolidated Statements of Cash Flows, the Corporation considers cash and cash equivalents to include cash on hand, cash items in the process of collection, non-interest bearing amounts due from correspondent banks, federal funds sold and securities purchased under resale agreements with original maturities of three months or less. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
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. The Corporation evaluates goodwill impairment annually as of November 30th of each year. 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. | ||||||||
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: | ||||||||
31-Mar-14 | 31-Dec-13 | |||||||
(Dollars in thousands) | ||||||||
Core deposit intangibles | $ | 1,367 | $ | 1,367 | ||||
Less: accumulated amortization | 943 | 910 | ||||||
Carrying value of core deposit intangibles | $ | 424 | $ | 457 | ||||
Securities
Securities | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Securities | ' | |||||||||||||||||||||||
Securities | ||||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair values of securities at March 31, 2014 and December 31, 2013 follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 71,683 | $ | — | $ | (4,242 | ) | $ | 67,441 | |||||||||||||||
Mortgage backed securities: residential | 94,222 | 1,360 | (1,063 | ) | 94,519 | |||||||||||||||||||
Collateralized mortgage obligations | 22,163 | 247 | (271 | ) | 22,139 | |||||||||||||||||||
State and political subdivisions | 32,503 | 1,273 | (365 | ) | 33,411 | |||||||||||||||||||
Total Securities | $ | 220,571 | $ | 2,880 | $ | (5,941 | ) | $ | 217,510 | |||||||||||||||
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: residential | 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 | |||||||||||||||
U.S. Government agencies and corporations include callable and bullet agency issues and agency-backed mortgage backed securities. Maturities may differ from contractual terms because borrowers may have the right to call or prepay obligations with or without penalties. Periodic payments are received on mortgage-backed securities based upon payment patterns of the underlying collateral. | ||||||||||||||||||||||||
The amortized cost and fair value of available for sale debt securities by contractual maturity date at March 31, 2014 is provided in the following table. Mortgage backed securities and collaterlized mortgage obligations are not due at a single maturity date and are therefore shown separately. | ||||||||||||||||||||||||
At March 31, 2014 | ||||||||||||||||||||||||
Amortized Cost | Fair | |||||||||||||||||||||||
Value | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 22,033 | $ | 21,144 | ||||||||||||||||||||
Due from one year to five years | 46,819 | 45,340 | ||||||||||||||||||||||
Due from five years to ten years | 29,740 | 28,680 | ||||||||||||||||||||||
Due after ten years | 5,594 | 5,687 | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations | 116,385 | 116,659 | ||||||||||||||||||||||
$ | 220,571 | $ | 217,510 | |||||||||||||||||||||
The following table shows the proceeds from sales of available-for-sale securities for the three months ended March 31, 2014 and 2013. 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. | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Gross realized gains | $ | — | $ | 178 | ||||||||||||||||||||
Gross realized losses | — | — | ||||||||||||||||||||||
Net Securities Gains | $ | — | $ | 178 | ||||||||||||||||||||
Proceeds from the sale of available for sale securities | $ | — | $ | 2,280 | ||||||||||||||||||||
The carrying value of securities pledged to secure trust deposits, public deposits, lines of credit, and for other purposes required by law amounted to $193,354 and $154,479 at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
The following is a summary of securities that had unrealized losses at March 31, 2014 and December 31, 2013. 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 March 31, 2014, the Corporation held 50 securities with unrealized losses totaling $5,941. At December 31, 2013, there were 53 securities with unrealized losses totaling $8,651. Securities may temporarily be valued at less than amortized cost if the current levels of interest rates, as compared to the coupons on the securities held by the Corporation, are higher or if 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 March 31, 2014 | ||||||||||||||||||||||||
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 | $ | 58,282 | $ | (3,405 | ) | $ | 9,159 | $ | (837 | ) | $ | 67,441 | (4,242 | ) | ||||||||||
Mortgage backed securities: residential | 29,332 | (454 | ) | 24,875 | (609 | ) | 54,207 | (1,063 | ) | |||||||||||||||
Collateralized mortgage obligations | 6,741 | (86 | ) | 4,287 | (185 | ) | 11,028 | (271 | ) | |||||||||||||||
State and political subdivisions | 7,526 | (316 | ) | 488 | (49 | ) | 8,014 | (365 | ) | |||||||||||||||
Total | $ | 101,881 | $ | (4,261 | ) | $ | 38,809 | $ | (1,680 | ) | $ | 140,690 | $ | (5,941 | ) | |||||||||
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: residential | 28,603 | (566 | ) | 31,051 | (679 | ) | 59,654 | (1,245 | ) | |||||||||||||||
Collateralized mortgage | 5,079 | (59 | ) | 4,411 | (191 | ) | 9,490 | (250 | ) | |||||||||||||||
obligations | ||||||||||||||||||||||||
State and political subdivisions | 9,188 | (602 | ) | 447 | (91 | ) | 9,635 | (693 | ) | |||||||||||||||
Total | $ | 108,258 | $ | (7,690 | ) | $ | 35,909 | $ | (961 | ) | $ | 144,167 | $ | (8,651 | ) | |||||||||
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. | ||||||||||||||||||||||||
Equity securities are also evaluated to determine whether the unrealized loss is expected to be recoverable based on whether evidence exists to support a realizable value equal to or greater than the amortized cost basis. If it is probable that the Corporation will not recover the amortized cost basis, taking into consideration the estimated recovery period and its ability to hold the equity security until recovery, OTTI is recognized. The Corporation held no equity securities as of March 31, 2014. | ||||||||||||||||||||||||
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 March 31, 2014 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. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||||
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 incurred credit losses 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. | ||||||||||||||||||||||||||||
The general component covers non‑impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent three years. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. | ||||||||||||||||||||||||||||
Activity in the allowance for loan losses by segment for the three months ended March 31, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Losses charged off | (546 | ) | — | (77 | ) | (222 | ) | (70 | ) | (83 | ) | (998 | ) | |||||||||||||||
Recoveries | 6 | 1 | 2 | 11 | 58 | 12 | 90 | |||||||||||||||||||||
Provision charged to expense | 662 | (34 | ) | 147 | 205 | (68 | ) | (12 | ) | 900 | ||||||||||||||||||
Balance, end of period | $ | 10,244 | $ | 464 | $ | 1,483 | $ | 3,478 | $ | 1,513 | $ | 315 | $ | 17,497 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 838 | $ | 73 | $ | 6 | $ | — | $ | — | $ | — | $ | 917 | ||||||||||||||
Collectively evaluated for impairment | 9,406 | 391 | 1,477 | 3,478 | 1,513 | 315 | 16,580 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,244 | $ | 464 | $ | 1,483 | $ | 3,478 | $ | 1,513 | $ | 315 | $ | 17,497 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 16,175 | $ | 460 | $ | 1,254 | $ | 980 | $ | 190 | $ | 65 | $ | 19,124 | ||||||||||||||
Collectively evaluated for impairment | 392,292 | 82,837 | 67,417 | 121,844 | 209,504 | 17,171 | 891,065 | |||||||||||||||||||||
Total ending loans balance | $ | 408,467 | $ | 83,297 | $ | 68,671 | $ | 122,824 | $ | 209,694 | $ | 17,236 | $ | 910,189 | ||||||||||||||
Three Months Ended March 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 period | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Losses charged off | (123 | ) | (63 | ) | (513 | ) | (436 | ) | (216 | ) | (77 | ) | (1,428 | ) | ||||||||||||||
Recoveries | 7 | 4 | 64 | 47 | 94 | 31 | 247 | |||||||||||||||||||||
Provision charged to expense | (486 | ) | (242 | ) | 554 | 980 | 502 | 42 | 1,350 | |||||||||||||||||||
Balance, end of period | $ | 10,784 | $ | 534 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | $ | 17,806 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,778 | $ | 192 | $ | — | $ | — | $ | — | $ | — | $ | 1,970 | ||||||||||||||
Collectively evaluated for impairment | 9,006 | $ | 342 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | 15,836 | ||||||||||||||||
Total ending allowance balance | $ | 10,784 | $ | 534 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | $ | 17,806 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 23,941 | $ | 564 | $ | 1,991 | $ | 483 | $ | 99 | $ | 59 | $ | 27,137 | ||||||||||||||
Collectively evaluated for impairment | 391,812 | 75,345 | 62,495 | 121,281 | 199,865 | 11,996 | 862,794 | |||||||||||||||||||||
Total ending loans balance | $ | 415,753 | $ | 75,909 | $ | 64,486 | $ | 121,764 | $ | 199,964 | $ | 12,055 | $ | 889,931 | ||||||||||||||
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 | ||||||||||||||
Delinquencies | ||||||||||||||||||||||||||||
Management monitors delinquency and potential problem loans. Bank-wide delinquency at March 31, 2014 was 1.64% of total loans. Total 30-59 day delinquency and 60-89 day delinquency was 0.25% and 0.25% of total loans at March 31, 2014, respectively. 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. Information regarding delinquent loans as of March 31, 2014 and December 31, 2013 is as follows: | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans as of March 31, 2014 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | 90 Days and Greater | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | Investment | ||||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 741 | $ | 1,260 | $ | 6,319 | $ | 8,320 | $ | 400,147 | $ | 408,467 | $ | — | ||||||||||||||
Commercial | 68 | — | 159 | 227 | 83,070 | 83,297 | — | |||||||||||||||||||||
Residential real estate | 422 | 340 | 2,076 | 2,838 | 65,833 | 68,671 | — | |||||||||||||||||||||
Home equity loans | 872 | 591 | 1,643 | 3,106 | 119,718 | 122,824 | — | |||||||||||||||||||||
Indirect | 169 | 51 | 5 | 225 | 209,469 | 209,694 | ||||||||||||||||||||||
Consumer | 33 | 60 | 95 | 188 | 17,048 | 17,236 | — | |||||||||||||||||||||
Total | $ | 2,305 | $ | 2,302 | $ | 10,297 | $ | 14,904 | $ | 895,285 | $ | 910,189 | $ | — | ||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Total Past Due | Current | Total Loans | Recorded | ||||||||||||||||||||||
Past Due | Past Due | 90 Days and Greater | 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 | ||||||||||||||
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. Consumer 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 March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||||
At March 31, 2014 | Three Months Ended | |||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 12,512 | $ | 16,899 | $ | — | $ | 14,021 | ||||||||||||||||||||
Commercial | 202 | 255 | — | 208 | ||||||||||||||||||||||||
Residential real estate | 1,233 | 1,371 | — | 1,482 | ||||||||||||||||||||||||
Home equity loans | 980 | 1,563 | — | 1,045 | ||||||||||||||||||||||||
Indirect | 190 | 263 | — | 192 | ||||||||||||||||||||||||
Consumer | 65 | 97 | — | 113 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 3,663 | 5,553 | 838 | 2,988 | ||||||||||||||||||||||||
Commercial | 258 | 258 | 73 | 258 | ||||||||||||||||||||||||
Residential real estate | 21 | 82 | 6 | 11 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 19,124 | $ | 26,341 | $ | 917 | $ | 20,318 | ||||||||||||||||||||
At December 31, 2013 | Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||
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 | ||||||||||||||||||||
*impaired loans shown in the tables 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 of these loans have been specifically allocated for as part of the Corporation's normal loan loss provisioning methodology. The Corporation has allocated reserves of $40 for the TDR loans at March 31, 2014. | ||||||||||||||||||||||||||||
During the first quarter of 2014 there were no loans that were modified as a TDR. | ||||||||||||||||||||||||||||
The following table provides the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan segment as of March 31, 2014 and 2013. | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Unpaid Principal | ||||||||||||||||||||||||||
Commercial real estate | 18 | $6,214 | $8,530 | |||||||||||||||||||||||||
Commercial | 1 | — | 171 | |||||||||||||||||||||||||
Residential real estate | 13 | 964 | 1,070 | |||||||||||||||||||||||||
Home equity loans | 28 | 786 | 1,322 | |||||||||||||||||||||||||
Indirect Loans | 39 | 190 | 263 | |||||||||||||||||||||||||
Consumer Loans | 1 | 65 | 65 | |||||||||||||||||||||||||
Total | 100 | $8,219 | $11,421 | |||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Unpaid Principal | ||||||||||||||||||||||||||
Commercial real estate | 14 | $6,796 | $8,772 | |||||||||||||||||||||||||
Commercial | 1 | — | 171 | |||||||||||||||||||||||||
Residential real estate | 10 | 946 | 973 | |||||||||||||||||||||||||
Home equity loans | 14 | 483 | 688 | |||||||||||||||||||||||||
Indirect Loans | 14 | 99 | 161 | |||||||||||||||||||||||||
Consumer Loans | 1 | 59 | 59 | |||||||||||||||||||||||||
Total | 54 | $8,383 | $10,824 | |||||||||||||||||||||||||
The following table summarizes the loans that were modified as a TDR during the period ended December 31, 2013. | ||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
There were no loans modified in a TDR that subsequently defaulted during the twelve months periods ended March 31, 2014 and 2013 respectively (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 OCC 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. | ||||||||||||||||||||||||||||
The Corporation had approximately $628 of additional commitments to lend additional funds to the related debtors whose terms have been modified in a TDR at March 31, 2014. | ||||||||||||||||||||||||||||
Nonaccrual Loans | ||||||||||||||||||||||||||||
Nonaccrual loan balances at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||||
Loans On Non-Accrual Status | March 31, | December 31, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Commercial real estate | $ | 10,145 | $ | 11,241 | ||||||||||||||||||||||||
Commercial | 227 | 289 | ||||||||||||||||||||||||||
Residential real estate | 5,127 | 5,231 | ||||||||||||||||||||||||||
Home equity loans | 4,845 | 4,464 | ||||||||||||||||||||||||||
Indirect | 362 | 443 | ||||||||||||||||||||||||||
Consumer | 212 | 318 | ||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 20,918 | $ | 21,986 | ||||||||||||||||||||||||
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 March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||
• | 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 tables present 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 March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 51 | $ | — | $ | — | $ | — | $ | — | $ | 51 | ||||||||||||||
Grade 2 — Modest | — | 39 | — | — | — | — | 39 | |||||||||||||||||||||
Grade 3 — Better than average | 848 | — | — | — | — | — | 848 | |||||||||||||||||||||
Grade 4 — Average | 20,204 | 164 | 611 | — | — | — | 20,979 | |||||||||||||||||||||
Grade 5 — Acceptable | 361,379 | 79,884 | 5,654 | — | — | — | 446,917 | |||||||||||||||||||||
Total Pass Credits | 382,431 | 80,138 | 6,265 | — | — | — | 468,834 | |||||||||||||||||||||
Grade 6 — Special mention | 3,341 | 118 | 32 | — | — | — | 3,491 | |||||||||||||||||||||
Grade 7 — Substandard | 22,695 | 3,041 | 615 | — | — | — | 26,351 | |||||||||||||||||||||
Grade 8 — Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 408,467 | 83,297 | 6,912 | — | — | — | 498,676 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 59,525 | 119,718 | 209,469 | 17,048 | 405,760 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 65 | 872 | 169 | 33 | 1,139 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 340 | 591 | 51 | 60 | 1,042 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 1,829 | 1,643 | 5 | 95 | 3,572 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 61,759 | 122,824 | 209,694 | 17,236 | 411,513 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 408,467 | $ | 83,297 | $ | 68,671 | $ | 122,824 | $ | 209,694 | $ | 17,236 | $ | 910,189 | ||||||||||||||
* | 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, 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. | ||||||||||||||||||||||||||||
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 90 days or greater past due. This information is provided in the above past due loans table. |
Deposits
Deposits | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Deposits | ' | |||||||
Deposits | ||||||||
Deposit balances are summarized as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(Dollars in thousands) | ||||||||
Demand and other noninterest-bearing | $ | 149,530 | $ | 148,961 | ||||
Interest checking | 176,028 | 164,662 | ||||||
Savings | 129,976 | 125,582 | ||||||
Money market accounts | 124,138 | 103,534 | ||||||
Consumer time deposits | 362,732 | 382,137 | ||||||
Public time deposits | 134,447 | 120,713 | ||||||
Total deposits | $ | 1,076,851 | $ | 1,045,589 | ||||
The aggregate amount of certificates of deposit in denominations of $100,000 or more amounted to $295,426 and $293,330 at March 31, 2014 and December 31, 2013, respectively. | ||||||||
The maturity distribution of certificates of deposit as of March 31, 2014 are as follows: | ||||||||
March 31, 2014 | ||||||||
(Dollars in thousands) | ||||||||
0-12 months | $ | 323,856 | ||||||
12-24 months | 109,561 | |||||||
24-36 months | 48,056 | |||||||
36-48 months | 11,634 | |||||||
48-60 months | 4,072 | |||||||
Total | $ | 497,179 | ||||||
ShortTerm_Borrowings
Short-Term Borrowings | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [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 line is equal to 50% of the balances of qualified home equity lines of credit that are pledged as collateral. At March 31, 2014, the Bank had pledged approximately $88,150 in qualifying home equity lines of credit, resulting in an available line of credit of approximately $44,075. No amounts were outstanding under the line of credit at March 31, 2014 or December 31, 2013. The Corporation also has a $6,000 line of credit with an unaffiliated financial institution. The Corporation also has a $6,000 line of credit with an unaffiliated financial institution under which the Corporation had borrowings of $2,500 was outstanding at a rate of 3.50% as of March 31, 2014. At December 31, 2013, the Corporation had borrowings of $3,000 outstanding under the line of credit. | |||||||||
Short-term borrowings include securities sold under repurchase agreements and Federal funds purchased from correspondent banks. At March 31, 2014 and December 31, 2013, the outstanding balance of securities sold under repurchase agreements totaled $1,225 and $1,576, respectively. No Federal funds were purchased as of March 31, 2014 and December 31, 2013. | |||||||||
The following table presents the components of federal funds purchased and securities sold under agreements to repurchase and short-term borrowings as of March 31, 2014 and December 31, 2013. | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
Federal funds purchased and securities sold under agreements to repurchase | 1,225 | 1,576 | |||||||
Line of credit with an unaffiliated financial institution | 2,500 | 3,000 | |||||||
Total short-term borrowings | $ | 3,725 | $ | 4,576 | |||||
Short-term borrowings | 31-Mar-14 | 31-Dec-13 | |||||||
Average balance during the year | $ | 4,664 | $ | 1,803 | |||||
Weighted-average annual interest rate during the year | 3.6 | % | 0.1 | % | |||||
Maximum month-end balance | $ | 3,725 | $ | 4,576 | |||||
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
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 $46,760 and $46,708 at March 31, 2014 and December 31, 2013 respectively. All advances were bullet maturities with no call features. At March 31, 2014, collateral pledged for FHLB advances consisted of qualified multi-family and residential real estate mortgage loans and investment securities of $88,238 and $16,985, respectively. The maximum borrowing capacity of the Bank at March 31, 2014 was $73,971. 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 March 31, 2014 and December 31, 2013. | ||||||||
Maturities of FHLB advances outstanding at March 31, 2014 and December 31, 2013 are as follows: | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Maturity January 2014 with fixed rate 3.55% | $ | — | $ | 1 | ||||
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 | (740 | ) | (793 | ) | ||||
Total FHLB advances | $ | 46,760 | $ | 46,708 | ||||
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 yield. 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 March 31, 2014, the advances were structured to contractually pay down as follows: | ||||||||
Balance | Weighted Average Rate | |||||||
2015 | $ | — | —% | |||||
2016 | 20,000 | 0.8 | ||||||
2017 | 10,000 | 0.79 | ||||||
2018 | 15,000 | 0.96 | ||||||
Thereafter | 2,500 | 1.24 | ||||||
Total | $ | 47,500 | 0.87% | |||||
Restructuring prepayment penalty | (740 | ) | ||||||
Total | $ | 46,760 | ||||||
Trust_Preferred_Securities
Trust Preferred Securities | 3 Months Ended |
Mar. 31, 2014 | |
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 2013 were 1.71% and 6.64% for Trust I and Trust II, respectively. At March 31, 2014 and December 31, 2013, accrued interest payable for Trust I was $5 and $6 and for Trust II was $21 and $22, respectively. | |
The subordinated notes are redeemable in whole or in part, without penalty, at the Corporation’s option 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. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies | ' | |||||||
Commitments 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 March 31, 2014 and December 31, 2013 follows: | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Commitments to extend credit | $ | 78,779 | $ | 84,283 | ||||
Home equity lines of credit | 90,189 | 89,331 | ||||||
Standby letters of credit | 8,543 | 8,448 | ||||||
Total | $ | 177,511 | $ | 182,062 | ||||
The nature of the Corporation’s business may result in litigation. Management, after reviewing with counsel all actions and proceedings pending against or involving the Corporation and its 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. |
Estimated_Fair_Value_of_Financ
Estimated Fair Value of Financial Instruments | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
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. | ||||||||||||||||||||||
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. | |||||||||||||||||||||
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 March 31, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||
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 | $ | 68,241 | $ | 68,241 | $ | 68,241 | $ | — | $ | — | $ | 52,272 | $ | 52,272 | ||||||||
bearing deposits in other banks | ||||||||||||||||||||||
Securities | 217,510 | 217,510 | — | 217,510 | — | 216,122 | 216,122 | |||||||||||||||
Restricted stock | 5,741 | N/A | N/A | N/A | N/A | 5,741 | 5,741 | |||||||||||||||
Portfolio loans, net | 892,692 | 888,730 | — | — | 888,730 | 884,794 | 884,211 | |||||||||||||||
Loans held for sale | 1,811 | 1,815 | — | 1,815 | — | 4,483 | 4,487 | |||||||||||||||
Accrued interest receivable | 3,774 | 3,744 | — | 970 | 2,774 | 3,621 | 3,621 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||
Demand, savings and money market | 579,672 | 574,086 | — | 574,086 | — | 542,739 | 542,739 | |||||||||||||||
Certificates of deposit | 497,179 | 498,475 | — | 498,475 | — | 502,850 | 504,381 | |||||||||||||||
Short-term borrowings | 3,725 | 3,725 | — | 3,725 | — | 4,576 | 4,576 | |||||||||||||||
Federal Home Loan Bank advances | 46,760 | 46,899 | — | 46,899 | — | 46,708 | 46,923 | |||||||||||||||
Junior subordinated debentures | 16,238 | 16,650 | — | 16,650 | — | 16,238 | 16,778 | |||||||||||||||
Accrued interest payable | 701 | 701 | — | 701 | — | 789 | 789 | |||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||
The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. As of March 31, 2014 and December 31, 2013, Cash and due from banks, Federal funds sold and interest bearing deposits in other banks were classified as Level 1. | ||||||||||||||||||||||
Restricted stock | ||||||||||||||||||||||
It is not practical to determine the fair value of Restricted stock due to restrictions placed on its transferability. Restricted stock is carried at cost and valued based on the ultimate recoverability of par value. | ||||||||||||||||||||||
Loans | ||||||||||||||||||||||
Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 2 classification. | ||||||||||||||||||||||
Deposits | ||||||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 2 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | ||||||||||||||||||||||
Short-term Borrowings | ||||||||||||||||||||||
The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. | ||||||||||||||||||||||
Other Borrowings | ||||||||||||||||||||||
The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | ||||||||||||||||||||||
The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | ||||||||||||||||||||||
Accrued Interest Receivable/Payable | ||||||||||||||||||||||
The carrying amounts of accrued interest approximate fair value resulting in Level 2 and Level 3 classification. The level disclosed should be consistent with the asset and liability that the accrued interest is associated with. | ||||||||||||||||||||||
Off-balance Sheet Instruments | ||||||||||||||||||||||
Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. | ||||||||||||||||||||||
The following table presents information about the Corporation’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, 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-Mar-14 | 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 | $ | 67,441 | $ | — | $ | 67,441 | $ | — | ||||||||||||||
Mortgage backed securities: residential | 94,519 | — | 94,519 | — | ||||||||||||||||||
Collateralized mortgage obligations | 22,139 | — | 22,139 | — | ||||||||||||||||||
State and political subdivisions | 33,411 | — | 33,411 | — | ||||||||||||||||||
Interest rate swaps | 158 | — | 158 | — | ||||||||||||||||||
Total | $ | 217,668 | $ | — | $ | 217,668 | $ | — | ||||||||||||||
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: residential | 94,430 | — | 94,430 | — | ||||||||||||||||||
Collateralized mortgage obligations | 18,655 | — | 18,655 | — | ||||||||||||||||||
State and political subdivisions | 32,965 | — | 32,965 | — | ||||||||||||||||||
Preferred Securities | 4,684 | — | — | 4,684 | ||||||||||||||||||
Interest rate swaps | 222 | — | 222 | — | ||||||||||||||||||
Total | $ | 216,344 | $ | — | $ | 211,660 | $ | 4,684 | ||||||||||||||
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 subdivisions 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. | ||||||||||||||||||||||
There were no transfers between Levels 1 and 2 of the fair value hierarchy during the periods ended March 31, 2014 and December 31, 2013. 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 March 31, 2014 and December 31, 2013, such assets consist primarily of impaired loans and other property. The Corporation has estimated the fair values of these assets using Level 3 inputs, specifically discounted cash flow projections. | ||||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a nonrecurring basis: | ||||||||||||||||||||||
31-Mar-14 | 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 | $ | — | $ | — | $ | 18,207 | $ | 18,207 | ||||||||||||||
Other real estate | — | — | 979 | 979 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 19,186 | $ | 19,186 | ||||||||||||||
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 | $ | — | $ | — | $ | 22,565 | $ | 22,565 | ||||||||||||||
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. Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. | ||||||||||||||||||||||
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. | ||||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value (dollars in thousands). | ||||||||||||||||||||||
Asset | Fair Value | Valuation Technique | Unobservable Input | |||||||||||||||||||
Collateral dependent impaired loans | $18,207 | Sales comparison approach | Adjustment for differences between the comparable sales | |||||||||||||||||||
Other real estate | $979 | Sales comparison approach | Adjustment for differences between the comparable sales | |||||||||||||||||||
Changes in Level 3 Fair Value Measurements | ||||||||||||||||||||||
There were no assets measured at fair value on a recurring basis using significant unobservable inputs that were transferred to Level 3 as of or during the three months ended March 31, 2014. |
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
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, was adopted by the Corporation’s shareholders on April 18, 2006 and was amended and restated on May 2, 2012. Awards granted under this Plan as of March 31, 2014 were stock options granted in 2007, 2008, 2009, 2012 and 2013 and long-term restricted shares issued in 2010, 2011, 2012 and 2013. In addition, the Corporation has nonqualified stock option agreements outside of the 2006 Stock Incentive Plan. Grants under the nonqualified stock option agreements were made from 2005 to 2007. | ||||||||||||
Stock Options | ||||||||||||
During the three months ended March 31, 2014, the Corporation granted no stock options. All outstanding stock options are granted at an excercise price equal to the fair 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 $30, and $5 for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||
The following table summarizes the Corporation's stock options outstanding at March 31, 2014: | ||||||||||||
Outstanding | Exercisable | |||||||||||
Number | Weighted Average | Number | Weighted Average | |||||||||
Remaining | Exercise Price | |||||||||||
Contractual Life | ||||||||||||
(Years) | ||||||||||||
Range of Exercise Prices | ||||||||||||
$5.34-$5.39 | 37,500 | 7.66 | 25,833 | $ | 5.39 | |||||||
$9.07-$9.56 | 128,196 | 9.17 | — | — | ||||||||
$14.47 | 79,500 | 3.85 | 79,500 | 14.47 | ||||||||
$16.00-$16.50 | 32,500 | 2.72 | 32,500 | 16.04 | ||||||||
$19.10 | 30,000 | 1.84 | 30,000 | 19.1 | ||||||||
$19.17 | 30,000 | 0.84 | 30,000 | 19.17 | ||||||||
Outstanding at end of period | 337,696 | 5.74 | 197,833 | 14.96 | ||||||||
A summary of the status of stock options at March 31, 2014 and 2013 is presented in the table below: | ||||||||||||
2014 | 2013 | |||||||||||
Options | Weighted Average | Options | Weighted Average | |||||||||
Exercise | Exercise | |||||||||||
Price per Share | Price per Share | |||||||||||
Outstanding at beginning of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Granted | — | — | — | — | ||||||||
Forfeited or expired | — | — | — | — | ||||||||
Exercised | — | — | — | — | ||||||||
Stock dividend or split | — | — | — | — | ||||||||
Outstanding at end of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Exercisable at end of period | 197,833 | 14.96 | 197,000 | 16.12 | ||||||||
There were no options exercised during the three months of 2014, therefore the total intrinsic value of options exercised was $0. The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Corporation’s closing stock price on the last trading day of the quarter and the exercise price, multiplied by the number of in-the-money options). The Corporation’s closing stock price on March 31, 2014 was $11.42. | ||||||||||||
Restricted Shares | ||||||||||||
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 the three months ended March 31, 2014 and 2013 was $38,and $72, 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 March 31, 2014 is presented in the table below: | ||||||||||||
Nonvested | Weighted Average | |||||||||||
Shares | Grant Date | |||||||||||
Fair Value | ||||||||||||
Nonvested at January 1, 2014 | 83,355 | $ | 5.86 | |||||||||
Granted | — | — | ||||||||||
Vested | (44,803 | ) | 5.35 | |||||||||
Forfeited or expired | — | — | ||||||||||
Nonvested at March 31, 2014 | 38,552 | 6.45 | ||||||||||
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 three months ended March 31, 2014, was $0 and for 2013 was $4. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) (Notes) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||
The following table details the change in the components of the Corporation’s accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013: | |||||||||||||
March 31, 2014 | |||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | |||||||||||
gains and losses | |||||||||||||
Balance at the beginning of the period | $ | (3,892 | ) | $ | (1,296 | ) | $ | (5,188 | ) | ||||
Amounts recognized in other comprehensive income, net of taxes of $964 | 1,871 | — | 1,871 | ||||||||||
Reclassified amounts out of accumulated other comprehensive income, net of tax | — | — | — | ||||||||||
Balance at the end of the period | $ | (2,021 | ) | $ | (1,296 | ) | $ | (3,317 | ) | ||||
31-Mar-13 | |||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | |||||||||||
gains and losses | |||||||||||||
Balance at the beginning of the period | $ | 3,295 | $ | (2,055 | ) | $ | 1,240 | ||||||
Amounts recognized in other comprehensive income, net of taxes of $368 | (714 | ) | — | (714 | ) | ||||||||
Reclassified amounts out of accumulated other comprehensive income, net of tax | 117 | — | — | ||||||||||
Balance at the end of the period | $ | 2,464 | $ | (2,055 | ) | $ | 409 | ||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
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. | |
The accounting and reporting policies followed in the presentation of the accompanying Unaudited Consolidated Financial Statements are consistent with those described in Note 1 of the Notes to the Consolidated Financial Statements in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013, as updated by the information contained in this Form 10-Q. Management has evaluated all significant events and transactions that occurred after March 31, 2014, for potential recognition or disclosure in these consolidated financial statements. In the opinion of management, these consolidated financial statements reflect all adjustments necessary to present fairly such information for the periods and dates indicated. Such adjustments are normal and recurring in nature. The Consolidated Balance Sheet at December 31, 2013, contained herein has been derived from the audited Consolidated Balance Sheet included in Corporation’s Annual Report on Form 10-K. | |
The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, due in part to seasonal variations and unusual or infrequently occurring items. | |
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. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements: | |
In January 2014, the Financial Accounting Standards Board issued an accounting standards update allowing entities to make an accounting policy election with respect to using the proportional amortization method for investments in qualified affordable housing projects, if certain conditions are met. This standard will be effective for public companies for interim and annual periods beginning after December 15, 2014. The Corporation will adopt this new guidance as required, and it is not expected to have a material impact on the Corporation's Consolidated Financial Statements. | |
Also in January 2014, the Financial Accounting Standards Board issued an accounting standards update clarifying guidance for in substance repossessions and foreclosures, and requiring additional disclosures regarding foreclosed residential real estate property and recorded investments in consumer mortgage loans collateralized by residential real estate in the process of foreclosure. This standard will be effective for public companies for interim and annual periods beginning after December 15, 2014. The Corporation will adopt this new guidance as required, and it is not expected to have a material impact on the Corporation's Consolidated Financial Statements. |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Basic and Diluted Earnings Per Share | ' | |||||||
The reconciliation between basic and diluted earnings per share is presented as follows (Dollars in thousands, except per share data) : | ||||||||
Three Months Ended | ||||||||
31-Mar-14 | 31-Mar-13 | |||||||
Basic EPS | ||||||||
Net income | $ | 1,606 | $ | 1,113 | ||||
Less: | ||||||||
Preferred stock dividend and accretion | 35 | 257 | ||||||
Income allocated to participating securities | 6 | 11 | ||||||
Net income allocated to common shareholders | $ | 1,565 | $ | 845 | ||||
Average common shares outstanding | 9,668,297 | 8,201,120 | ||||||
Less: participating shares included in average common shares outstanding | 53,169 | 117,031 | ||||||
Average common shares outstanding used in basic EPS | 9,615,128 | 8,084,089 | ||||||
Basic net income per common share | $ | 0.16 | $ | 0.1 | ||||
Diluted EPS: | ||||||||
Income used in diluted earnings per share calculation | $ | 1,565 | $ | 845 | ||||
Average common shares outstanding | 9,668,297 | 8,201,120 | ||||||
Add: Common Stock equivalents: | ||||||||
Stock Options | 37,135 | 10,918 | ||||||
Average common stock shares outstanding | 9,705,432 | 8,212,038 | ||||||
Diluted earnings per common share | $ | 0.16 | $ | 0.1 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Summary of Core Deposit Intangible Assets, Gross and Net | ' | |||||||
A summary of core deposit intangible assets follows: | ||||||||
31-Mar-14 | 31-Dec-13 | |||||||
(Dollars in thousands) | ||||||||
Core deposit intangibles | $ | 1,367 | $ | 1,367 | ||||
Less: accumulated amortization | 943 | 910 | ||||||
Carrying value of core deposit intangibles | $ | 424 | $ | 457 | ||||
Securities_Tables
Securities (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
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 March 31, 2014 and December 31, 2013 follows: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Amortized | Unrealized Gains | Unrealized Losses | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
U.S. Government agencies and corporations | $ | 71,683 | $ | — | $ | (4,242 | ) | $ | 67,441 | |||||||||||||||
Mortgage backed securities: residential | 94,222 | 1,360 | (1,063 | ) | 94,519 | |||||||||||||||||||
Collateralized mortgage obligations | 22,163 | 247 | (271 | ) | 22,139 | |||||||||||||||||||
State and political subdivisions | 32,503 | 1,273 | (365 | ) | 33,411 | |||||||||||||||||||
Total Securities | $ | 220,571 | $ | 2,880 | $ | (5,941 | ) | $ | 217,510 | |||||||||||||||
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: residential | 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 | |||||||||||||||
Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity | ' | |||||||||||||||||||||||
Mortgage backed securities and collaterlized mortgage obligations are not due at a single maturity date and are therefore shown separately. | ||||||||||||||||||||||||
At March 31, 2014 | ||||||||||||||||||||||||
Amortized Cost | Fair | |||||||||||||||||||||||
Value | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Securities available for sale: | ||||||||||||||||||||||||
Due in one year or less | $ | 22,033 | $ | 21,144 | ||||||||||||||||||||
Due from one year to five years | 46,819 | 45,340 | ||||||||||||||||||||||
Due from five years to ten years | 29,740 | 28,680 | ||||||||||||||||||||||
Due after ten years | 5,594 | 5,687 | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations | 116,385 | 116,659 | ||||||||||||||||||||||
$ | 220,571 | $ | 217,510 | |||||||||||||||||||||
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. | ||||||||||||||||||||||||
March 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Gross realized gains | $ | — | $ | 178 | ||||||||||||||||||||
Gross realized losses | — | — | ||||||||||||||||||||||
Net Securities Gains | $ | — | $ | 178 | ||||||||||||||||||||
Proceeds from the sale of available for sale securities | $ | — | $ | 2,280 | ||||||||||||||||||||
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 March 31, 2014 | ||||||||||||||||||||||||
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 | $ | 58,282 | $ | (3,405 | ) | $ | 9,159 | $ | (837 | ) | $ | 67,441 | (4,242 | ) | ||||||||||
Mortgage backed securities: residential | 29,332 | (454 | ) | 24,875 | (609 | ) | 54,207 | (1,063 | ) | |||||||||||||||
Collateralized mortgage obligations | 6,741 | (86 | ) | 4,287 | (185 | ) | 11,028 | (271 | ) | |||||||||||||||
State and political subdivisions | 7,526 | (316 | ) | 488 | (49 | ) | 8,014 | (365 | ) | |||||||||||||||
Total | $ | 101,881 | $ | (4,261 | ) | $ | 38,809 | $ | (1,680 | ) | $ | 140,690 | $ | (5,941 | ) | |||||||||
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: residential | 28,603 | (566 | ) | 31,051 | (679 | ) | 59,654 | (1,245 | ) | |||||||||||||||
Collateralized mortgage | 5,079 | (59 | ) | 4,411 | (191 | ) | 9,490 | (250 | ) | |||||||||||||||
obligations | ||||||||||||||||||||||||
State and political subdivisions | 9,188 | (602 | ) | 447 | (91 | ) | 9,635 | (693 | ) | |||||||||||||||
Total | $ | 108,258 | $ | (7,690 | ) | $ | 35,909 | $ | (961 | ) | $ | 144,167 | $ | (8,651 | ) | |||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||||
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 segment for the three months ended March 31, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 10,122 | $ | 497 | $ | 1,411 | $ | 3,484 | $ | 1,593 | $ | 398 | $ | 17,505 | ||||||||||||||
Losses charged off | (546 | ) | — | (77 | ) | (222 | ) | (70 | ) | (83 | ) | (998 | ) | |||||||||||||||
Recoveries | 6 | 1 | 2 | 11 | 58 | 12 | 90 | |||||||||||||||||||||
Provision charged to expense | 662 | (34 | ) | 147 | 205 | (68 | ) | (12 | ) | 900 | ||||||||||||||||||
Balance, end of period | $ | 10,244 | $ | 464 | $ | 1,483 | $ | 3,478 | $ | 1,513 | $ | 315 | $ | 17,497 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 838 | $ | 73 | $ | 6 | $ | — | $ | — | $ | — | $ | 917 | ||||||||||||||
Collectively evaluated for impairment | 9,406 | 391 | 1,477 | 3,478 | 1,513 | 315 | 16,580 | |||||||||||||||||||||
Total ending allowance balance | $ | 10,244 | $ | 464 | $ | 1,483 | $ | 3,478 | $ | 1,513 | $ | 315 | $ | 17,497 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 16,175 | $ | 460 | $ | 1,254 | $ | 980 | $ | 190 | $ | 65 | $ | 19,124 | ||||||||||||||
Collectively evaluated for impairment | 392,292 | 82,837 | 67,417 | 121,844 | 209,504 | 17,171 | 891,065 | |||||||||||||||||||||
Total ending loans balance | $ | 408,467 | $ | 83,297 | $ | 68,671 | $ | 122,824 | $ | 209,694 | $ | 17,236 | $ | 910,189 | ||||||||||||||
Three Months Ended March 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 period | $ | 11,386 | $ | 835 | $ | 1,559 | $ | 2,357 | $ | 1,230 | $ | 270 | $ | 17,637 | ||||||||||||||
Losses charged off | (123 | ) | (63 | ) | (513 | ) | (436 | ) | (216 | ) | (77 | ) | (1,428 | ) | ||||||||||||||
Recoveries | 7 | 4 | 64 | 47 | 94 | 31 | 247 | |||||||||||||||||||||
Provision charged to expense | (486 | ) | (242 | ) | 554 | 980 | 502 | 42 | 1,350 | |||||||||||||||||||
Balance, end of period | $ | 10,784 | $ | 534 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | $ | 17,806 | ||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,778 | $ | 192 | $ | — | $ | — | $ | — | $ | — | $ | 1,970 | ||||||||||||||
Collectively evaluated for impairment | 9,006 | $ | 342 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | 15,836 | ||||||||||||||||
Total ending allowance balance | $ | 10,784 | $ | 534 | $ | 1,664 | $ | 2,948 | $ | 1,610 | $ | 266 | $ | 17,806 | ||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 23,941 | $ | 564 | $ | 1,991 | $ | 483 | $ | 99 | $ | 59 | $ | 27,137 | ||||||||||||||
Collectively evaluated for impairment | 391,812 | 75,345 | 62,495 | 121,281 | 199,865 | 11,996 | 862,794 | |||||||||||||||||||||
Total ending loans balance | $ | 415,753 | $ | 75,909 | $ | 64,486 | $ | 121,764 | $ | 199,964 | $ | 12,055 | $ | 889,931 | ||||||||||||||
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 | ||||||||||||||
Age Analysis of Past Due Loans | ' | |||||||||||||||||||||||||||
Information regarding delinquent loans as of March 31, 2014 and December 31, 2013 is as follows: | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans as of March 31, 2014 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | 90 Days and Greater | Total Past Due | Current | Total Loans | Recorded | |||||||||||||||||||||
Past Due | Past Due | Investment | ||||||||||||||||||||||||||
> | ||||||||||||||||||||||||||||
90 Days | ||||||||||||||||||||||||||||
and | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 741 | $ | 1,260 | $ | 6,319 | $ | 8,320 | $ | 400,147 | $ | 408,467 | $ | — | ||||||||||||||
Commercial | 68 | — | 159 | 227 | 83,070 | 83,297 | — | |||||||||||||||||||||
Residential real estate | 422 | 340 | 2,076 | 2,838 | 65,833 | 68,671 | — | |||||||||||||||||||||
Home equity loans | 872 | 591 | 1,643 | 3,106 | 119,718 | 122,824 | — | |||||||||||||||||||||
Indirect | 169 | 51 | 5 | 225 | 209,469 | 209,694 | ||||||||||||||||||||||
Consumer | 33 | 60 | 95 | 188 | 17,048 | 17,236 | — | |||||||||||||||||||||
Total | $ | 2,305 | $ | 2,302 | $ | 10,297 | $ | 14,904 | $ | 895,285 | $ | 910,189 | $ | — | ||||||||||||||
Age Analysis of Past Due Loans as of December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | 30-59 Days | 60-89 Days | Total Past Due | Current | Total Loans | Recorded | ||||||||||||||||||||||
Past Due | Past Due | 90 Days and Greater | 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 | ||||||||||||||
Impaired Loans | ' | |||||||||||||||||||||||||||
Impaired loans for the Period Ended March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||||
At March 31, 2014 | Three Months Ended | |||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | Average Recorded | |||||||||||||||||||||||||
Investment | Balance | Allowance | Balance | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | $ | 12,512 | $ | 16,899 | $ | — | $ | 14,021 | ||||||||||||||||||||
Commercial | 202 | 255 | — | 208 | ||||||||||||||||||||||||
Residential real estate | 1,233 | 1,371 | — | 1,482 | ||||||||||||||||||||||||
Home equity loans | 980 | 1,563 | — | 1,045 | ||||||||||||||||||||||||
Indirect | 190 | 263 | — | 192 | ||||||||||||||||||||||||
Consumer | 65 | 97 | — | 113 | ||||||||||||||||||||||||
With allowance recorded: | ||||||||||||||||||||||||||||
Commercial real estate | 3,663 | 5,553 | 838 | 2,988 | ||||||||||||||||||||||||
Commercial | 258 | 258 | 73 | 258 | ||||||||||||||||||||||||
Residential real estate | 21 | 82 | 6 | 11 | ||||||||||||||||||||||||
Home equity loans | — | — | — | — | ||||||||||||||||||||||||
Indirect | — | — | — | — | ||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||
Total | $ | 19,124 | $ | 26,341 | $ | 917 | $ | 20,318 | ||||||||||||||||||||
At December 31, 2013 | Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||
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 | ||||||||||||||||||||
*impaired loans shown in the tables 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 Loan Information | ' | |||||||||||||||||||||||||||
The following table provides the number of loans modified in a TDR and the recorded investment and unpaid principal balance by loan segment as of March 31, 2014 and 2013. | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Unpaid Principal | ||||||||||||||||||||||||||
Commercial real estate | 18 | $6,214 | $8,530 | |||||||||||||||||||||||||
Commercial | 1 | — | 171 | |||||||||||||||||||||||||
Residential real estate | 13 | 964 | 1,070 | |||||||||||||||||||||||||
Home equity loans | 28 | 786 | 1,322 | |||||||||||||||||||||||||
Indirect Loans | 39 | 190 | 263 | |||||||||||||||||||||||||
Consumer Loans | 1 | 65 | 65 | |||||||||||||||||||||||||
Total | 100 | $8,219 | $11,421 | |||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Unpaid Principal | ||||||||||||||||||||||||||
Commercial real estate | 14 | $6,796 | $8,772 | |||||||||||||||||||||||||
Commercial | 1 | — | 171 | |||||||||||||||||||||||||
Residential real estate | 10 | 946 | 973 | |||||||||||||||||||||||||
Home equity loans | 14 | 483 | 688 | |||||||||||||||||||||||||
Indirect Loans | 14 | 99 | 161 | |||||||||||||||||||||||||
Consumer Loans | 1 | 59 | 59 | |||||||||||||||||||||||||
Total | 54 | $8,383 | $10,824 | |||||||||||||||||||||||||
The following table summarizes the loans that were modified as a TDR during the period ended December 31, 2013. | ||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
Loans on Nonaccrual Status | ' | |||||||||||||||||||||||||||
Nonaccrual loan balances at March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||||
Loans On Non-Accrual Status | March 31, | December 31, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Commercial real estate | $ | 10,145 | $ | 11,241 | ||||||||||||||||||||||||
Commercial | 227 | 289 | ||||||||||||||||||||||||||
Residential real estate | 5,127 | 5,231 | ||||||||||||||||||||||||||
Home equity loans | 4,845 | 4,464 | ||||||||||||||||||||||||||
Indirect | 362 | 443 | ||||||||||||||||||||||||||
Consumer | 212 | 318 | ||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 20,918 | $ | 21,986 | ||||||||||||||||||||||||
Summary of Recorded Investment Based on Delinquency Status | ' | |||||||||||||||||||||||||||
The following tables present 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 March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | Indirect | Consumer | Total | |||||||||||||||||||||
Credit Exposure | Real Estate | Real | Equity | |||||||||||||||||||||||||
Estate* | Loans | |||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Loans graded by internal credit risk grade: | ||||||||||||||||||||||||||||
Grade 1 — Minimal | $ | — | $ | 51 | $ | — | $ | — | $ | — | $ | — | $ | 51 | ||||||||||||||
Grade 2 — Modest | — | 39 | — | — | — | — | 39 | |||||||||||||||||||||
Grade 3 — Better than average | 848 | — | — | — | — | — | 848 | |||||||||||||||||||||
Grade 4 — Average | 20,204 | 164 | 611 | — | — | — | 20,979 | |||||||||||||||||||||
Grade 5 — Acceptable | 361,379 | 79,884 | 5,654 | — | — | — | 446,917 | |||||||||||||||||||||
Total Pass Credits | 382,431 | 80,138 | 6,265 | — | — | — | 468,834 | |||||||||||||||||||||
Grade 6 — Special mention | 3,341 | 118 | 32 | — | — | — | 3,491 | |||||||||||||||||||||
Grade 7 — Substandard | 22,695 | 3,041 | 615 | — | — | — | 26,351 | |||||||||||||||||||||
Grade 8 — Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||
Grade 9 — Loss | — | — | — | — | — | — | — | |||||||||||||||||||||
Total loans internally credit risk graded | 408,467 | 83,297 | 6,912 | — | — | — | 498,676 | |||||||||||||||||||||
Loans not monitored by internal risk grade: | ||||||||||||||||||||||||||||
Current loans not internally risk graded | — | — | 59,525 | 119,718 | 209,469 | 17,048 | 405,760 | |||||||||||||||||||||
30-59 days past due loans not internally risk graded | — | — | 65 | 872 | 169 | 33 | 1,139 | |||||||||||||||||||||
60-89 days past due loans not internally risk graded | — | — | 340 | 591 | 51 | 60 | 1,042 | |||||||||||||||||||||
90+ days past due loans not internally risk graded | — | — | 1,829 | 1,643 | 5 | 95 | 3,572 | |||||||||||||||||||||
Total loans not internally credit risk graded | — | — | 61,759 | 122,824 | 209,694 | 17,236 | 411,513 | |||||||||||||||||||||
Total loans internally and not internally credit risk graded | $ | 408,467 | $ | 83,297 | $ | 68,671 | $ | 122,824 | $ | 209,694 | $ | 17,236 | $ | 910,189 | ||||||||||||||
* | 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, 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. |
Deposits_Tables
Deposits (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Deposit Balances | ' | |||||||
Deposit balances are summarized as follows: | ||||||||
March 31, 2014 | December 31, 2013 | |||||||
(Dollars in thousands) | ||||||||
Demand and other noninterest-bearing | $ | 149,530 | $ | 148,961 | ||||
Interest checking | 176,028 | 164,662 | ||||||
Savings | 129,976 | 125,582 | ||||||
Money market accounts | 124,138 | 103,534 | ||||||
Consumer time deposits | 362,732 | 382,137 | ||||||
Public time deposits | 134,447 | 120,713 | ||||||
Total deposits | $ | 1,076,851 | $ | 1,045,589 | ||||
Contractual Maturities of Certificates of Deposits | ' | |||||||
The maturity distribution of certificates of deposit as of March 31, 2014 are as follows: | ||||||||
March 31, 2014 | ||||||||
(Dollars in thousands) | ||||||||
0-12 months | $ | 323,856 | ||||||
12-24 months | 109,561 | |||||||
24-36 months | 48,056 | |||||||
36-48 months | 11,634 | |||||||
48-60 months | 4,072 | |||||||
Total | $ | 497,179 | ||||||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [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 March 31, 2014 and December 31, 2013. | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
Federal funds purchased and securities sold under agreements to repurchase | 1,225 | 1,576 | |||||||
Line of credit with an unaffiliated financial institution | 2,500 | 3,000 | |||||||
Total short-term borrowings | $ | 3,725 | $ | 4,576 | |||||
Short-term borrowings | 31-Mar-14 | 31-Dec-13 | |||||||
Average balance during the year | $ | 4,664 | $ | 1,803 | |||||
Weighted-average annual interest rate during the year | 3.6 | % | 0.1 | % | |||||
Maximum month-end balance | $ | 3,725 | $ | 4,576 | |||||
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Disclosure Federal Home Loan Bank Advances Additional Information [Abstract] | ' | |||||||
Maturities of FHLB Advances Outstanding | ' | |||||||
Maturities of FHLB advances outstanding at March 31, 2014 and December 31, 2013 are as follows: | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Maturity January 2014 with fixed rate 3.55% | $ | — | $ | 1 | ||||
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 | (740 | ) | (793 | ) | ||||
Total FHLB advances | $ | 46,760 | $ | 46,708 | ||||
Federal Home Loan Bank Advances Future Maturities | ' | |||||||
At March 31, 2014, the advances were structured to contractually pay down as follows: | ||||||||
Balance | Weighted Average Rate | |||||||
2015 | $ | — | —% | |||||
2016 | 20,000 | 0.8 | ||||||
2017 | 10,000 | 0.79 | ||||||
2018 | 15,000 | 0.96 | ||||||
Thereafter | 2,500 | 1.24 | ||||||
Total | $ | 47,500 | 0.87% | |||||
Restructuring prepayment penalty | (740 | ) | ||||||
Total | $ | 46,760 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Summary of The Contractual Amount of Commitments | ' | |||||||
A summary of the contractual amount of commitments at March 31, 2014 and December 31, 2013 follows: | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Commitments to extend credit | $ | 78,779 | $ | 84,283 | ||||
Home equity lines of credit | 90,189 | 89,331 | ||||||
Standby letters of credit | 8,543 | 8,448 | ||||||
Total | $ | 177,511 | $ | 182,062 | ||||
Estimated_Fair_Value_of_Financ1
Estimated Fair Value of Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||
Summary of Financial Instruments | ' | |||||||||||||||||||||
The estimated fair values of the Corporation’s financial instruments at March 31, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||
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 | $ | 68,241 | $ | 68,241 | $ | 68,241 | $ | — | $ | — | $ | 52,272 | $ | 52,272 | ||||||||
bearing deposits in other banks | ||||||||||||||||||||||
Securities | 217,510 | 217,510 | — | 217,510 | — | 216,122 | 216,122 | |||||||||||||||
Restricted stock | 5,741 | N/A | N/A | N/A | N/A | 5,741 | 5,741 | |||||||||||||||
Portfolio loans, net | 892,692 | 888,730 | — | — | 888,730 | 884,794 | 884,211 | |||||||||||||||
Loans held for sale | 1,811 | 1,815 | — | 1,815 | — | 4,483 | 4,487 | |||||||||||||||
Accrued interest receivable | 3,774 | 3,744 | — | 970 | 2,774 | 3,621 | 3,621 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||
Demand, savings and money market | 579,672 | 574,086 | — | 574,086 | — | 542,739 | 542,739 | |||||||||||||||
Certificates of deposit | 497,179 | 498,475 | — | 498,475 | — | 502,850 | 504,381 | |||||||||||||||
Short-term borrowings | 3,725 | 3,725 | — | 3,725 | — | 4,576 | 4,576 | |||||||||||||||
Federal Home Loan Bank advances | 46,760 | 46,899 | — | 46,899 | — | 46,708 | 46,923 | |||||||||||||||
Junior subordinated debentures | 16,238 | 16,650 | — | 16,650 | — | 16,238 | 16,778 | |||||||||||||||
Accrued interest payable | 701 | 701 | — | 701 | — | 789 | 789 | |||||||||||||||
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 March 31, 2014 and December 31, 2013, 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-Mar-14 | 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 | $ | 67,441 | $ | — | $ | 67,441 | $ | — | ||||||||||||||
Mortgage backed securities: residential | 94,519 | — | 94,519 | — | ||||||||||||||||||
Collateralized mortgage obligations | 22,139 | — | 22,139 | — | ||||||||||||||||||
State and political subdivisions | 33,411 | — | 33,411 | — | ||||||||||||||||||
Interest rate swaps | 158 | — | 158 | — | ||||||||||||||||||
Total | $ | 217,668 | $ | — | $ | 217,668 | $ | — | ||||||||||||||
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: residential | 94,430 | — | 94,430 | — | ||||||||||||||||||
Collateralized mortgage obligations | 18,655 | — | 18,655 | — | ||||||||||||||||||
State and political subdivisions | 32,965 | — | 32,965 | — | ||||||||||||||||||
Preferred Securities | 4,684 | — | — | 4,684 | ||||||||||||||||||
Interest rate swaps | 222 | — | 222 | — | ||||||||||||||||||
Total | $ | 216,344 | $ | — | $ | 211,660 | $ | 4,684 | ||||||||||||||
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: | ||||||||||||||||||||||
31-Mar-14 | 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 | $ | — | $ | — | $ | 18,207 | $ | 18,207 | ||||||||||||||
Other real estate | — | — | 979 | 979 | ||||||||||||||||||
Total assets at fair value on a nonrecurring basis | $ | — | $ | — | $ | 19,186 | $ | 19,186 | ||||||||||||||
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 | $ | — | $ | — | $ | 22,565 | $ | 22,565 | ||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | ' | |||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value (dollars in thousands). | ||||||||||||||||||||||
Asset | Fair Value | Valuation Technique | Unobservable Input | |||||||||||||||||||
Collateral dependent impaired loans | $18,207 | Sales comparison approach | Adjustment for differences between the comparable sales | |||||||||||||||||||
Other real estate | $979 | Sales comparison approach | Adjustment for differences between the comparable sales |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Summary of Options Outstanding | ' | |||||||||||
The following table summarizes the Corporation's stock options outstanding at March 31, 2014: | ||||||||||||
Outstanding | Exercisable | |||||||||||
Number | Weighted Average | Number | Weighted Average | |||||||||
Remaining | Exercise Price | |||||||||||
Contractual Life | ||||||||||||
(Years) | ||||||||||||
Range of Exercise Prices | ||||||||||||
$5.34-$5.39 | 37,500 | 7.66 | 25,833 | $ | 5.39 | |||||||
$9.07-$9.56 | 128,196 | 9.17 | — | — | ||||||||
$14.47 | 79,500 | 3.85 | 79,500 | 14.47 | ||||||||
$16.00-$16.50 | 32,500 | 2.72 | 32,500 | 16.04 | ||||||||
$19.10 | 30,000 | 1.84 | 30,000 | 19.1 | ||||||||
$19.17 | 30,000 | 0.84 | 30,000 | 19.17 | ||||||||
Outstanding at end of period | 337,696 | 5.74 | 197,833 | 14.96 | ||||||||
Summary of Stock Options | ' | |||||||||||
A summary of the status of stock options at March 31, 2014 and 2013 is presented in the table below: | ||||||||||||
2014 | 2013 | |||||||||||
Options | Weighted Average | Options | Weighted Average | |||||||||
Exercise | Exercise | |||||||||||
Price per Share | Price per Share | |||||||||||
Outstanding at beginning of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Granted | — | — | — | — | ||||||||
Forfeited or expired | — | — | — | — | ||||||||
Exercised | — | — | — | — | ||||||||
Stock dividend or split | — | — | — | — | ||||||||
Outstanding at end of period | 337,696 | 12.43 | 232,000 | 14.5 | ||||||||
Exercisable at end of period | 197,833 | 14.96 | 197,000 | 16.12 | ||||||||
Summary of the Status of Restricted Shares | ' | |||||||||||
A summary of the status of restricted shares at March 31, 2014 is presented in the table below: | ||||||||||||
Nonvested | Weighted Average | |||||||||||
Shares | Grant Date | |||||||||||
Fair Value | ||||||||||||
Nonvested at January 1, 2014 | 83,355 | $ | 5.86 | |||||||||
Granted | — | — | ||||||||||
Vested | (44,803 | ) | 5.35 | |||||||||
Forfeited or expired | — | — | ||||||||||
Nonvested at March 31, 2014 | 38,552 | 6.45 | ||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
The following table details the change in the components of the Corporation’s accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013: | |||||||||||||
March 31, 2014 | |||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | |||||||||||
gains and losses | |||||||||||||
Balance at the beginning of the period | $ | (3,892 | ) | $ | (1,296 | ) | $ | (5,188 | ) | ||||
Amounts recognized in other comprehensive income, net of taxes of $964 | 1,871 | — | 1,871 | ||||||||||
Reclassified amounts out of accumulated other comprehensive income, net of tax | — | — | — | ||||||||||
Balance at the end of the period | $ | (2,021 | ) | $ | (1,296 | ) | $ | (3,317 | ) | ||||
31-Mar-13 | |||||||||||||
Unrealized securities | Pension and post- retirement costs | Total | |||||||||||
gains and losses | |||||||||||||
Balance at the beginning of the period | $ | 3,295 | $ | (2,055 | ) | $ | 1,240 | ||||||
Amounts recognized in other comprehensive income, net of taxes of $368 | (714 | ) | — | (714 | ) | ||||||||
Reclassified amounts out of accumulated other comprehensive income, net of tax | 117 | — | — | ||||||||||
Balance at the end of the period | $ | 2,464 | $ | (2,055 | ) | $ | 409 | ||||||
Earnings_Per_Common_Share_Basi
Earnings Per Common Share - Basic and Diluted Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Basic EPS | ' | ' |
Net income | $1,606 | $1,113 |
Preferred stock dividend and accretion | 35 | 257 |
Income allocated to participating securities | 6 | 11 |
Net income allocated to common shareholders | 1,565 | 845 |
Average common shares outstanding | 9,668,297 | 8,201,120 |
Less: participating shares included in average common shares outstanding | 53,169 | 117,031 |
Average common shares outstanding used in basic EPS | 9,615,128 | 8,084,089 |
Basic net income per share (in dollars per share) | $0.16 | $0.10 |
Diluted EPS: | ' | ' |
Income used in diluted earnings per share calculation | $1,565 | $845 |
Stock Options | 37,135 | 10,918 |
Average common stock shares outstanding | 9,705,432 | 8,212,038 |
Diluted net income per share (in dollars per share) | $0.16 | $0.10 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Details) (Stock options [Member]) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
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 | 195 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Core Deposit Intangibles | Core Deposit Intangibles | |||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Goodwill | $21,582,000 | $21,582,000 | ' | ' |
Goodwill impairment charge | 0 | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Estimated useful life | ' | ' | '10 years | ' |
Core deposit intangibles | ' | ' | 1,367,000 | 1,367,000 |
Less: accumulated amortization | ' | ' | 943,000 | 910,000 |
Carrying value of core deposit intangibles | $457,000 | $424,000 | $424,000 | $457,000 |
Securities_Amortized_Cost_Gros
Securities - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $220,571 | $222,019 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 2,880 | 2,754 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | -5,941 | -8,651 |
Fair Value | 217,510 | 216,122 |
U.S. Government agencies and corporations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 71,683 | 71,851 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | -4,242 | -6,463 |
Fair Value | 67,441 | 65,388 |
Mortgage backed securities: residential | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 94,222 | 94,313 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,360 | 1,362 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | -1,063 | -1,245 |
Fair Value | 94,519 | 94,430 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 22,163 | 18,650 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 247 | 255 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | -271 | -250 |
Fair Value | 22,139 | 18,655 |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 32,503 | 32,521 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,273 | 1,137 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | -365 | -693 |
Fair Value | 33,411 | 32,965 |
Preferred securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 4,684 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | ' | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | ' | 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 (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Debt Maturities [Abstract] | ' | ' |
Due in one year or less - Amortized Cost | $22,033 | ' |
Due from one year to five years - Amortized Cost | 46,819 | ' |
Due from five years to ten years - Amortized Cost | 29,740 | ' |
Due after ten years - Amortized Cost | 5,594 | ' |
Mortgage backed securities and collateralized mortgage obligations, Amortized cost | 116,385 | ' |
Amortized Cost | 220,571 | 222,019 |
Due in one year or less - Fair Value | 21,144 | ' |
Due from one year to five years - Fair Value | 45,340 | ' |
Due from five years to ten years - Fair Value | 28,680 | ' |
Due after ten years - Fair Value | 5,687 | ' |
Mortgage backed securities and collateralized mortgage obligations, Fair value | 116,659 | ' |
Fair Value | $217,510 | $216,122 |
Securities_Realized_Gains_and_
Securities - Realized Gains and Losses Related to Securities Available-for-Sale (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | ' | ' |
Gross realized gains | $0 | $178 |
Gross realized losses | 0 | 0 |
Net Securities Gains | 0 | 178 |
Proceeds from sales of available-for-sale securities | $0 | $2,280 |
Securities_Summary_of_Securiti
Securities - Summary of Securities that had Unrealized Losses (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | $101,881 | $108,258 |
Less than 12 Months, Aggregate Losses | -4,261 | -7,690 |
Twelve Months or Longer, Fair Value | 38,809 | 35,909 |
Twelve Months or Longer, Unrealized Losses | -1,680 | -961 |
Total, Fair Value | 140,690 | 144,167 |
Total, Unrealized Losses | -5,941 | -8,651 |
U.S. Government agencies and corporations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 58,282 | 65,388 |
Less than 12 Months, Aggregate Losses | -3,405 | -6,463 |
Twelve Months or Longer, Fair Value | 9,159 | 0 |
Twelve Months or Longer, Unrealized Losses | -837 | 0 |
Total, Fair Value | 67,441 | 65,388 |
Total, Unrealized Losses | -4,242 | -6,463 |
Mortgage backed securities: residential | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 29,332 | 28,603 |
Less than 12 Months, Aggregate Losses | -454 | -566 |
Twelve Months or Longer, Fair Value | 24,875 | 31,051 |
Twelve Months or Longer, Unrealized Losses | -609 | -679 |
Total, Fair Value | 54,207 | 59,654 |
Total, Unrealized Losses | -1,063 | -1,245 |
Collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 6,741 | 5,079 |
Less than 12 Months, Aggregate Losses | -86 | -59 |
Twelve Months or Longer, Fair Value | 4,287 | 4,411 |
Twelve Months or Longer, Unrealized Losses | -185 | -191 |
Total, Fair Value | 11,028 | 9,490 |
Total, Unrealized Losses | -271 | -250 |
State and political subdivisions | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 7,526 | 9,188 |
Less than 12 Months, Aggregate Losses | -316 | -602 |
Twelve Months or Longer, Fair Value | 488 | 447 |
Twelve Months or Longer, Unrealized Losses | -49 | -91 |
Total, Fair Value | 8,014 | 9,635 |
Total, Unrealized Losses | ($365) | ($693) |
Securities_Additional_Informat
Securities - Additional Information (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
securities | securities | |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Carrying value of securities | $193,354 | $154,479 |
Number of securities | 50 | 53 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 5,941 | 8,651 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | $4,261 | $7,690 |
Summary_of_Activity_in_the_Loa
- Summary of Activity in the Loan Balances and the Allowance for Loan Losses by Segment (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | $17,505 | $17,637 | $17,637 |
Losses charged off | -998 | -1,428 | -6,019 |
Recoveries | 90 | 247 | 1,512 |
Provision charged to expense | 900 | 1,350 | 4,375 |
Balance, end of period | 17,497 | 17,806 | 17,505 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 917 | 1,970 | 938 |
Collectively evaluated for impairment | 16,580 | 15,836 | 16,567 |
Total ending allowance balance | 17,497 | 17,806 | 17,505 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 19,124 | 27,137 | 21,511 |
Collectively evaluated for impairment | 891,065 | 862,794 | 880,788 |
Total ending loans balance | 910,189 | 889,931 | 902,299 |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 10,122 | 11,386 | 11,386 |
Losses charged off | -546 | -123 | -2,325 |
Recoveries | 6 | 7 | 697 |
Provision charged to expense | 662 | -486 | 364 |
Balance, end of period | 10,244 | 10,784 | 10,122 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 838 | 1,778 | 865 |
Collectively evaluated for impairment | 9,406 | 9,006 | 9,257 |
Total ending allowance balance | 10,244 | 10,784 | 10,122 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 16,175 | 23,941 | 17,842 |
Collectively evaluated for impairment | 392,292 | 391,812 | 383,749 |
Total ending loans balance | 408,467 | 415,753 | 401,591 |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 497 | 835 | 835 |
Losses charged off | 0 | -63 | -121 |
Recoveries | 1 | 4 | 8 |
Provision charged to expense | -34 | -242 | -225 |
Balance, end of period | 464 | 534 | 497 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 73 | 192 | 73 |
Collectively evaluated for impairment | 391 | 342 | 424 |
Total ending allowance balance | 464 | 534 | 497 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 460 | 564 | 472 |
Collectively evaluated for impairment | 82,837 | 75,345 | 88,174 |
Total ending loans balance | 83,297 | 75,909 | 88,646 |
Residential Real Estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 1,411 | 1,559 | 1,559 |
Losses charged off | -77 | -513 | -754 |
Recoveries | 2 | 64 | 350 |
Provision charged to expense | 147 | 554 | 256 |
Balance, end of period | 1,483 | 1,664 | 1,411 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 6 | 0 | 0 |
Collectively evaluated for impairment | 1,477 | 1,664 | 1,411 |
Total ending allowance balance | 1,483 | 1,664 | 1,411 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 1,254 | 1,991 | 1,731 |
Collectively evaluated for impairment | 67,417 | 62,495 | 64,776 |
Total ending loans balance | 68,671 | 64,486 | 66,507 |
Home Equity Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 3,484 | 2,357 | 2,357 |
Losses charged off | -222 | -436 | -1,775 |
Recoveries | 11 | 47 | 66 |
Provision charged to expense | 205 | 980 | 2,836 |
Balance, end of period | 3,478 | 2,948 | 3,484 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 3,478 | 2,948 | 3,484 |
Total ending allowance balance | 3,478 | 2,948 | 3,484 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 980 | 483 | 1,111 |
Collectively evaluated for impairment | 121,844 | 121,281 | 121,965 |
Total ending loans balance | 122,824 | 121,764 | 123,076 |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 1,593 | 1,230 | 1,230 |
Losses charged off | -70 | -216 | -678 |
Recoveries | 58 | 94 | 335 |
Provision charged to expense | -68 | 502 | 706 |
Balance, end of period | 1,513 | 1,610 | 1,593 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 1,513 | 1,610 | 1,593 |
Total ending allowance balance | 1,513 | 1,610 | 1,593 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 190 | 99 | 195 |
Collectively evaluated for impairment | 209,504 | 199,865 | 206,128 |
Total ending loans balance | 209,694 | 199,964 | 206,323 |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance, beginning of period | 398 | 270 | 270 |
Losses charged off | -83 | -77 | -366 |
Recoveries | 12 | 31 | 56 |
Provision charged to expense | -12 | 42 | 438 |
Balance, end of period | 315 | 266 | 398 |
Ending allowance balance attributable to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 315 | 266 | 398 |
Total ending allowance balance | 315 | 266 | 398 |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 65 | 59 | 160 |
Collectively evaluated for impairment | 17,171 | 11,996 | 15,996 |
Total ending loans balance | $17,236 | $12,055 | $16,156 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | $2,305 | $2,319 | ' |
60-89 Days Past Due | 2,302 | 1,744 | ' |
Greater than 90 Days | 10,297 | 11,164 | ' |
Total Past Due | 14,904 | 15,227 | ' |
Current | 895,285 | 887,072 | ' |
Total ending loans balance | 910,189 | 902,299 | 889,931 |
Recorded Investment greater than 90 Days and Accruing | 0 | 201 | ' |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 741 | 525 | ' |
60-89 Days Past Due | 1,260 | 4 | ' |
Greater than 90 Days | 6,319 | 7,401 | ' |
Total Past Due | 8,320 | 7,930 | ' |
Current | 400,147 | 393,661 | ' |
Total ending loans balance | 408,467 | 401,591 | 415,753 |
Recorded Investment greater than 90 Days and Accruing | 0 | 0 | ' |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 68 | 0 | ' |
60-89 Days Past Due | 0 | 18 | ' |
Greater than 90 Days | 159 | 219 | ' |
Total Past Due | 227 | 237 | ' |
Current | 83,070 | 88,409 | ' |
Total ending loans balance | 83,297 | 88,646 | 75,909 |
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 | 422 | 347 | ' |
60-89 Days Past Due | 340 | 960 | ' |
Greater than 90 Days | 2,076 | 2,252 | ' |
Total Past Due | 2,838 | 3,559 | ' |
Current | 65,833 | 62,948 | ' |
Total ending loans balance | 68,671 | 66,507 | 64,486 |
Recorded Investment greater than 90 Days and Accruing | 0 | 158 | ' |
Home equity loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 872 | 932 | ' |
60-89 Days Past Due | 591 | 707 | ' |
Greater than 90 Days | 1,643 | 1,078 | ' |
Total Past Due | 3,106 | 2,717 | ' |
Current | 119,718 | 120,359 | ' |
Total ending loans balance | 122,824 | 123,076 | 121,764 |
Recorded Investment greater than 90 Days and Accruing | 0 | 43 | ' |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 169 | 332 | ' |
60-89 Days Past Due | 51 | 30 | ' |
Greater than 90 Days | 5 | 23 | ' |
Total Past Due | 225 | 385 | ' |
Current | 209,469 | 205,938 | ' |
Total ending loans balance | 209,694 | 206,323 | 199,964 |
Recorded Investment greater than 90 Days and Accruing | ' | ' | ' |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
30-59 Days Past Due | 33 | 183 | ' |
60-89 Days Past Due | 60 | 25 | ' |
Greater than 90 Days | 95 | 191 | ' |
Total Past Due | 188 | 399 | ' |
Current | 17,048 | 15,757 | ' |
Total ending loans balance | 17,236 | 16,156 | 12,055 |
Recorded Investment greater than 90 Days and Accruing | $0 | $0 | ' |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Impaired Loans (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment, Total | $19,124 | ' | $21,511 |
Unpaid Principal Balance, Total | 26,341 | ' | 27,317 |
Related Allowance, Total | 917 | ' | 938 |
Average Recorded Balance, Total | 20,318 | 24,579 | ' |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 12,512 | ' | 15,530 |
Unpaid Principal Balance | 16,899 | ' | 20,438 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 14,021 | 16,705 | ' |
Recorded Investment | 3,663 | ' | 2,312 |
Unpaid Principal Balance | 5,553 | ' | 2,319 |
Related Allowance | 838 | ' | 865 |
Average Recorded Balance | 2,988 | 4,374 | ' |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 202 | ' | 214 |
Unpaid Principal Balance | 255 | ' | 267 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 208 | 186 | ' |
Recorded Investment | 258 | ' | 258 |
Unpaid Principal Balance | 258 | ' | 258 |
Related Allowance | 73 | ' | 73 |
Average Recorded Balance | 258 | 346 | ' |
Residential real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 1,233 | ' | 1,731 |
Unpaid Principal Balance | 1,371 | ' | 1,940 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 1,482 | 1,832 | ' |
Recorded Investment | 21 | ' | 0 |
Unpaid Principal Balance | 82 | ' | 0 |
Related Allowance | 6 | ' | 0 |
Average Recorded Balance | 11 | 0 | ' |
Home equity loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 980 | ' | 1,111 |
Unpaid Principal Balance | 1,563 | ' | 1,623 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 1,045 | 847 | ' |
Recorded Investment | 0 | ' | 0 |
Unpaid Principal Balance | 0 | ' | 0 |
Related Allowance | 0 | ' | 0 |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 190 | ' | 195 |
Unpaid Principal Balance | 263 | ' | 268 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 192 | 178 | ' |
Recorded Investment | 0 | ' | 0 |
Unpaid Principal Balance | 0 | ' | 0 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 0 | 0 | ' |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Recorded Investment | 65 | ' | 160 |
Unpaid Principal Balance | 97 | ' | 204 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | 113 | 111 | ' |
Recorded Investment | 0 | ' | 0 |
Unpaid Principal Balance | 0 | ' | 0 |
Related Allowance | 0 | ' | 0 |
Average Recorded Balance | $0 | $0 | ' |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Troubled Debt Restructuring Loan Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
contracts | contracts | contracts | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 100 | 54 | ' |
Recorded Investment | $8,219 | $8,383 | ' |
Unpaid Principal | 11,421 | 10,824 | ' |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 18 | 14 | 3 |
Recorded Investment | 6,214 | 6,796 | ' |
Unpaid Principal | 8,530 | 8,772 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 93 |
Post-Modification Outstanding Recorded Investment | ' | ' | 93 |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 1 | 1 | ' |
Recorded Investment | 0 | 0 | ' |
Unpaid Principal | 171 | 171 | ' |
Residential real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 13 | 10 | 3 |
Recorded Investment | 964 | 946 | ' |
Unpaid Principal | 1,070 | 973 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 236 |
Post-Modification Outstanding Recorded Investment | ' | ' | 236 |
Home equity loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 28 | 14 | 15 |
Recorded Investment | 786 | 483 | ' |
Unpaid Principal | 1,322 | 688 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 774 |
Post-Modification Outstanding Recorded Investment | ' | ' | 774 |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 39 | 14 | 25 |
Recorded Investment | 190 | 99 | ' |
Unpaid Principal | 263 | 161 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 195 |
Post-Modification Outstanding Recorded Investment | ' | ' | 195 |
Consumer Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Number of Contracts | 1 | 1 | 3 |
Recorded Investment | 65 | 59 | ' |
Unpaid Principal | 65 | 59 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 34 |
Post-Modification Outstanding Recorded Investment | ' | ' | $34 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Loans on Nonaccrual Status (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | $20,918 | $21,986 |
Commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 10,145 | 11,241 |
Commercial | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 227 | 289 |
Residential real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 5,127 | 5,231 |
Home equity loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 4,845 | 4,464 |
Indirect | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | 362 | 443 |
Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Nonaccrual Loans | $212 | $318 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Summary of Recorded Investment Based on Delinquency Status (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | $910,189 | $902,299 | $889,931 |
Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 408,467 | 401,591 | 415,753 |
Commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 83,297 | 88,646 | 75,909 |
Residential Real Estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 68,671 | 66,507 | 64,486 |
Home Equity Loans | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 122,824 | 123,076 | 121,764 |
Indirect | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 209,694 | 206,323 | 199,964 |
Consumer | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total ending loans balance | 17,236 | 16,156 | 12,055 |
Commercial Credit Exposure | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 468,834 | 467,759 | ' |
Total loans internally credit risk graded | 498,676 | 497,099 | ' |
Total loans not internally credit risk graded | 411,513 | 405,200 | ' |
Total ending loans balance | 910,189 | 902,299 | ' |
Commercial Credit Exposure | Grade 1-Minimal | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 51 | 52 | ' |
Commercial Credit Exposure | Grade 2-Modest | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 39 | 37 | ' |
Commercial Credit Exposure | Grade 3-Better than average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 848 | 857 | ' |
Commercial Credit Exposure | Grade 4-Average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 20,979 | 23,464 | ' |
Commercial Credit Exposure | Grade 5-Acceptable | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 446,917 | 443,349 | ' |
Commercial Credit Exposure | Grade 6-Special mention | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 3,491 | 5,072 | ' |
Commercial Credit Exposure | Grade 7-Substandard | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 26,351 | 24,268 | ' |
Commercial Credit Exposure | Grade 8-Doubtful | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 0 | 0 | ' |
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 | 405,760 | 398,444 | ' |
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 | 1,139 | 1,511 | ' |
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 | 1,042 | 1,722 | ' |
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 | 3,572 | 3,523 | ' |
Commercial Credit Exposure | Commercial real estate | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 382,431 | 376,218 | ' |
Total loans internally credit risk graded | 408,467 | 401,591 | ' |
Total loans not internally credit risk graded | 0 | 0 | ' |
Total ending loans balance | 408,467 | 401,591 | ' |
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 | 848 | 857 | ' |
Commercial Credit Exposure | Commercial real estate | Grade 4-Average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 20,204 | 22,580 | ' |
Commercial Credit Exposure | Commercial real estate | Grade 5-Acceptable | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 361,379 | 352,781 | ' |
Commercial Credit Exposure | Commercial real estate | Grade 6-Special mention | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 3,341 | 2,146 | ' |
Commercial Credit Exposure | Commercial real estate | Grade 7-Substandard | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 22,695 | 23,227 | ' |
Commercial Credit Exposure | Commercial real estate | Grade 8-Doubtful | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 0 | 0 | ' |
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 | 80,138 | 85,339 | ' |
Total loans internally credit risk graded | 83,297 | 88,646 | ' |
Total loans not internally credit risk graded | 0 | 0 | ' |
Total ending loans balance | 83,297 | 88,646 | ' |
Commercial Credit Exposure | Commercial | Grade 1-Minimal | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 51 | 52 | ' |
Commercial Credit Exposure | Commercial | Grade 2-Modest | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 39 | 37 | ' |
Commercial Credit Exposure | Commercial | Grade 3-Better than average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 0 | 0 | ' |
Commercial Credit Exposure | Commercial | Grade 4-Average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 164 | 271 | ' |
Commercial Credit Exposure | Commercial | Grade 5-Acceptable | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 79,884 | 84,979 | ' |
Commercial Credit Exposure | Commercial | Grade 6-Special mention | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 118 | 2,891 | ' |
Commercial Credit Exposure | Commercial | Grade 7-Substandard | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 3,041 | 416 | ' |
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 | 6,265 | 6,202 | ' |
Total loans internally credit risk graded | 6,912 | 6,862 | ' |
Total loans not internally credit risk graded | 61,759 | 59,645 | ' |
Total ending loans balance | 68,671 | 66,507 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 1-Minimal | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 0 | 0 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 2-Modest | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 0 | 0 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 3-Better than average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 0 | 0 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 4-Average | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 611 | 613 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 5-Acceptable | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Pass Credits | 5,654 | 5,589 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 6-Special mention | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 32 | 35 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 7-Substandard | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 615 | 625 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 8-Doubtful | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 0 | 0 | ' |
Commercial Credit Exposure | Residential Real Estate | Grade 9-Loss | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total loans internally credit risk graded | 0 | 0 | ' |
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 | 59,525 | 56,390 | ' |
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 | 65 | 64 | ' |
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 | 340 | 960 | ' |
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 | 1,829 | 2,231 | ' |
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 | 122,824 | 123,076 | ' |
Total ending loans balance | 122,824 | 123,076 | ' |
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 | 119,718 | 120,359 | ' |
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 | 872 | 932 | ' |
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 | 591 | 707 | ' |
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 | 1,643 | 1,078 | ' |
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 | 209,694 | 206,323 | ' |
Total ending loans balance | 209,694 | 206,323 | ' |
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 | 209,469 | 205,938 | ' |
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 | 169 | 332 | ' |
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 | 51 | 30 | ' |
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 | 5 | 23 | ' |
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 | 17,236 | 16,156 | ' |
Total ending loans balance | 17,236 | 16,156 | ' |
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 | 17,048 | 15,757 | ' |
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 | 33 | 183 | ' |
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 | 60 | 25 | ' |
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 | $95 | $191 | ' |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Additional Information (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Historical loss measurement period | '3 years | ' |
Bank wide delinquency of loans in percentage | 1.64% | 1.69% |
Bank wide delinquency of loans, 30 to 59 days delinquent, percentage | 0.25% | 0.26% |
Bank wide delinquency of loans, 60 to 89 days delinquent, percentage | 0.25% | 0.19% |
Allocated reserves of nonaccrual TDR loans | $40 | ' |
Additional commitments to lend | $628 | ' |
Maximum [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Time period of repayment based on delinquency period one | '59 days | ' |
Time period of repayment based on delinquency period two | '89 days | ' |
Minimum [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Time period of repayment based on delinquency period one | '30 days | ' |
Time period of repayment based on delinquency period two | '60 days | ' |
Time period of repayment based on delinquency period three | '90 days | ' |
Deposits_Deposit_Balances_Deta
Deposits - Deposit Balances (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits | ' | ' |
Demand and other noninterest-bearing | $149,530 | $148,961 |
Interest checking | 176,028 | 164,662 |
Savings | 129,976 | 125,582 |
Money market accounts | 124,138 | 103,534 |
Consumer time deposits | 362,732 | 382,137 |
Public time deposits | 134,447 | 120,713 |
Total deposits | $1,076,851 | $1,045,589 |
Deposits_Additional_Informatio
Deposits - Additional Information (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Banking and Thrift [Abstract] | ' | ' |
Certificates of deposit denominations | $100,000 | ' |
Aggregate amount of certificates of deposit in denominations of $100,000 or more | $295,426,000 | $293,330,000 |
Deposits_Contractual_Maturitie
Deposits - Contractual Maturities of Certificates of Deposits (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Time Deposits, Fiscal Year Maturity [Abstract] | ' | ' |
2013 | $323,856 | ' |
2014 | 109,561 | ' |
2015 | 48,056 | ' |
2016 | 11,634 | ' |
2017 | 4,072 | ' |
Total | $497,179 | $502,850 |
ShortTerm_Borrowings_Additiona
Short-Term Borrowings - Additional Information (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Short-term Debt [Line Items] | ' | ' |
Line of credit | 50.00% | ' |
Home equity lines of credit | $88,150 | ' |
Available line of credit | 44,075 | ' |
Line of credit with an unaffiliated financial institution | 6,000 | ' |
Total short-term borrowings | 3,725 | 4,576 |
Securities sold under repurchase agreements | 1,225 | 2 |
Line of Credit | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Stated interest rate | 3.50% | ' |
Total short-term borrowings | $2,500 | $3,000 |
ShortTerm_Borrowings_Component
Short-Term Borrowings - Components of short-term borrowings (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | $3,725 | $4,576 |
Average balance during the year | 4,664 | 1,803 |
Weighted-average annual interest rate during the year | 3.60% | 0.10% |
Maximum month-end balance | 3,725 | 4,576 |
Securities Sold under Agreements to Repurchase | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | 1,225 | 1,576 |
Line of Credit | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | $2,500 | $3,000 |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances - Additional Information (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Long-term Federal Home Loan Bank Advances | ' | $46,760,000 | $46,708,000 |
Maximum borrowing capacity of the Bank | ' | 73,971,000 | ' |
Cash management line of credit | ' | 40,000,000 | ' |
Prepayments For Federal Home Loan Bank Advances | 27,500,000 | ' | ' |
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 | 1,017,000 | ' | ' |
Cash Management Line Of Credit Outstanding | ' | 0 | 0 |
Multi-family mortgage loans [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Investment securities | ' | 88,238,000 | ' |
Residential real estate mortgage loans [Member] | ' | ' | ' |
Securities Pledged As Collateral [Line Items] | ' | ' | ' |
Investment securities | ' | $16,985,000 | ' |
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 (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Cash Management Line Of Credit Outstanding | $0 | $0 |
Maturities of FHLB advances outstanding | ' | ' |
Federal Home Loan Bank advances amount | 46,760,000 | 46,708,000 |
Restructuring prepayment penalty | -740,000 | -793,000 |
Maturities January 2014 with fixed rate 3.55% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 3.55% | ' |
Federal Home Loan Bank advances amount | 0 | 1,000 |
Maturities January 2015 with fixed rate 0.80% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 0.80% | ' |
Federal Home Loan Bank advances amount | 20,000,000 | 20,000,000 |
Maturity December 2016 with fixed rate 0.79% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 0.79% | ' |
Federal Home Loan Bank advances amount | 10,000,000 | 10,000,000 |
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 | 15,000,000 | 15,000,000 |
Maturity June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% [Member] | Minimum [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 0.89% | ' |
Maturity June 2017 through December 2017, with fixed rates ranging from 0.89% to 0.99% [Member] | Maximum [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 0.99% | ' |
Maturity June 2018 fixed rate 1.24% [Member] | ' | ' |
Maturities of FHLB advances outstanding | ' | ' |
Interest rates on Federal Home Loan Bank Advances | 1.24% | ' |
Federal Home Loan Bank advances amount | $2,500,000 | $2,500,000 |
Federal_Home_Loan_Bank_Advance4
Federal Home Loan Bank Advances - Schedule of Maturities (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Balance | ' | ' |
2015 | $0 | ' |
2016 | 20,000 | ' |
2017 | 10,000 | ' |
2018 | 15,000 | ' |
Thereafter | 2,500 | ' |
Total | 47,500 | ' |
Restructuring prepayment penalty | -740 | -793 |
Federal Home Loan Bank advances (Note 9) | $46,760 | $46,708 |
Weighted Average Rate | ' | ' |
2015 | 0.00% | ' |
2016 | 0.80% | ' |
2017 | 0.79% | ' |
2018 | 0.96% | ' |
Thereafter | 1.24% | ' |
Total | 0.87% | ' |
Trust_Preferred_Securities_Add
Trust Preferred Securities - Additional Information (Details) (USD $) | 1 Months Ended | 3 Months Ended | |
31-May-07 | Mar. 31, 2014 | Dec. 31, 2013 | |
Trust Preferred Securities [Line Items] | ' | ' | ' |
Accrued interest payable | ' | $701,000 | $789,000 |
Maturity date of subordinate notes | ' | 15-Jun-37 | ' |
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 | ' | 1.71% | ' |
Accrued interest payable | ' | 5,000 | 6,000 |
Trust II [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% | ' | ' |
Fixed interest rate of Trust II | 6.64% | ' | ' |
Effective interest rate | ' | 6.64% | ' |
Accrued interest payable | ' | $21,000 | $22,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitment expiration date, minimum | '30 days |
Commitment expiration date, maximum | '120 days |
Commitments_and_Contingencies_2
Commitments and Contingencies - Summary of The Contractual Amount of Commitments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | $177,511 | $182,062 |
Commitments to extend credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | 78,779 | 84,283 |
Home Equity Loans | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | 90,189 | 89,331 |
Standby letters of credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Contractual amount of commitments, total | $8,543 | $8,448 |
Estimated_Fair_Value_of_Financ2
Estimated Fair Value of Financial Instruments - Summary of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Securities | $217,510 | $216,122 |
Accrued interest payable | 701 | 789 |
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 | 68,241 | 52,272 |
Securities | 217,510 | 216,122 |
Restricted stock | 5,741 | 5,741 |
Portfolio loans, net | 892,692 | 884,794 |
Loans held for sale | 1,811 | 4,483 |
Accrued interest receivable | 3,774 | 3,621 |
Demand, savings and money market | 579,672 | 542,739 |
Certificates of deposit | 497,179 | 502,850 |
Short-term borrowings | 3,725 | 4,576 |
Federal Home Loan Bank advances | 46,760 | 46,708 |
Junior subordinated debentures | 16,238 | 16,238 |
Accrued interest payable | 701 | 789 |
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 | 68,241 | 52,272 |
Securities | 217,510 | 216,122 |
Restricted stock | ' | 5,741 |
Portfolio loans, net | 888,730 | 884,211 |
Loans held for sale | 1,815 | 4,487 |
Accrued interest receivable | 3,744 | 3,621 |
Demand, savings and money market | 574,086 | 542,739 |
Certificates of deposit | 498,475 | 504,381 |
Short-term borrowings | 3,725 | 4,576 |
Federal Home Loan Bank advances | 46,899 | 46,923 |
Junior subordinated debentures | 16,650 | 16,778 |
Accrued interest payable | 701 | 789 |
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 | 68,241 | ' |
Securities | 0 | ' |
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 | 217,510 | ' |
Portfolio loans, net | ' | ' |
Loans held for sale | 1,815 | ' |
Accrued interest receivable | 970 | ' |
Demand, savings and money market | 574,086 | ' |
Certificates of deposit | 498,475 | ' |
Short-term borrowings | 3,725 | ' |
Federal Home Loan Bank advances | 46,899 | ' |
Junior subordinated debentures | 16,650 | ' |
Accrued interest payable | 701 | ' |
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 | ' | ' |
Portfolio loans, net | 888,730 | ' |
Loans held for sale | 0 | ' |
Accrued interest receivable | 2,774 | ' |
Demand, savings and money market | ' | ' |
Certificates of deposit | ' | ' |
Short-term borrowings | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Junior subordinated debentures | ' | ' |
Accrued interest payable | ' | ' |
Estimated_Fair_Value_of_Financ3
Estimated Fair Value of Financial Instruments - Assets Measured by Fair Value on a Recurring Basis (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | $217,510 | $216,122 |
Fair Value [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 217,668 | 216,344 |
Fair Value [Member] | U.S. Government agencies and corporations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 67,441 | 65,388 |
Fair Value [Member] | Mortgage backed securities: residential | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 94,519 | 94,430 |
Fair Value [Member] | Collateralized mortgage obligations | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 22,139 | 18,655 |
Fair Value [Member] | State and political subdivisions | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 33,411 | 32,965 |
Fair Value [Member] | Preferred securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | ' | 4,684 |
Fair Value [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 158 | 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 (Note 5) | 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 (Note 5) | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage backed securities: residential | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 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 (Note 5) | 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 (Note 5) | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Preferred securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | ' | 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 (Note 5) | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 217,668 | 211,660 |
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 (Note 5) | 67,441 | 65,388 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage backed securities: residential | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 94,519 | 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 (Note 5) | 22,139 | 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 (Note 5) | 33,411 | 32,965 |
Significant Other Observable Inputs (Level 2) [Member] | Preferred securities | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | ' | 0 |
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 (Note 5) | 158 | 222 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | ' | 4,684 |
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 (Note 5) | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage backed securities: residential | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | 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 (Note 5) | 0 | 0 |
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 (Note 5) | 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 (Note 5) | ' | 4,684 |
Significant Unobservable Inputs (Level 3) [Member] | Interest rate swaps | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Securities available for sale, at fair value (Note 5) | $0 | $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 (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Impaired and nonaccrual loans | $18,207 | $21,986 |
Other real estate | 979 | 579 |
Total assets at fair value on a nonrecurring basis | 19,186 | 22,565 |
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 | 18,207 | 21,986 |
Other real estate | 979 | 579 |
Total assets at fair value on a nonrecurring basis | $19,186 | $22,565 |
Estimated_Fair_Value_of_Financ5
Estimated Fair Value of Financial Instruments - Level 3 Valuation Inputs and Technique (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral dependent impaired loans | $18,207 | $21,986 |
Other real estate | 979 | 579 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral dependent impaired loans | 18,207 | 21,986 |
Other real estate | $979 | $579 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2006 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of stock options granted | 0 | 0 | ' |
Closing stock price | $11.42 | ' | ' |
Stock options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum option term | '10 years | ' | ' |
General vesting period | '3 years | ' | ' |
Annual vesting percentage | 33.33% | ' | ' |
Expense recorded for share based compensation | $30 | $5 | ' |
Total intrinsic value of options exercised | 0 | ' | ' |
Restricted stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expense recorded for share based compensation | 38 | 72 | ' |
Shares issued | 0 | ' | ' |
Purchase price of long term restricted share | $0 | ' | ' |
Number of installments | 2 | ' | ' |
Stock appreciation rights (SARs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum option term | '10 years | ' | ' |
General vesting period | '3 years | ' | ' |
Expense recorded for share based compensation | $0 | $4 | ' |
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_Summar
Share-Based Compensation - Summary of Options Outstanding (Details) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
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 8 months 27 days |
Exercisable, Number (in shares) | 197,833 |
Weighted Average Exercise Price (in usd per share) | $14.96 |
$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 7 months 28 days |
Exercisable, Number (in shares) | 25,833 |
Weighted Average Exercise Price (in usd per share) | $5.39 |
$9.07-$9.56 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Range of exercise prices, minimum (in usd per share) | $9.07 |
Range of exercise prices, maximum (in usd per share) | $9.56 |
Outstanding, Number (in shares) | 128,196 |
Weighted Average Remaining Contractual Life | '9 years 2 months 1 day |
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 | '3 years 10 months 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 8 months 19 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 | '1 year 10 months 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 | '10 months 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 (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at beginning of period, shares | 337,696 | 232,000 |
Granted, shares | 0 | 0 |
Forfeited or expired, shares | 0 | 0 |
Exercised, shares | 0 | 0 |
Stock dividend or split, shares | 0 | 0 |
Outstanding at end of period, shares | 337,696 | 232,000 |
Exercisable at end of period, shares | 197,833 | 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 | $12.43 | $14.50 |
Granted, Weighted Average Exercise Price Per Share | $0 | $0 |
Forfeited or expired, Weighted Average Exercise Price per Share | $0 | $0 |
Exercised, Weighted Average Exercise Price per Share | $0 | $0 |
Stock dividend or split, Weighted Average Exercise Price per Share | $0 | $0 |
Outstanding at end of period, Weighted Average Exercise Price per Share | $12.43 | $14.50 |
Weighted Average Exercise Price per Share, Exercisable | $14.96 | $16.12 |
ShareBased_Compensation_Summar2
Share-Based Compensation - Summary of the Status of Restricted Shares (Details) (Restricted stock [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
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) | 83,355 |
Nonvested Shares, Granted (in shares) | 0 |
Nonvested Shares, Vested (in shares) | -44,803 |
Nonvested Shares, Forfeited or expired (in shares) | 0 |
Nonvested Shares, ending balance (in shares) | 38,552 |
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 | $5.86 |
Weighted Average Exercise Price per Share, Granted | $0 |
Weighted Average Exercise Price per Share, Vested | $5.35 |
Weighted Average Exercise Price per Share, Forfeited or expired | $0 |
Weighted Average Exercise Price per Share, Ending balance | $6.45 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' |
Balance at the beginning of the period | ($5,188) | $1,240 |
Amounts recognized in other comprehensive income, net of taxes | 1,871 | -714 |
Reclassified amounts out of accumulated other comprehensive income, net of tax | 0 | 0 |
Balance at the end of the period | -3,317 | 409 |
Other Comprehensive Income (Loss), before Reclassifications, Tax | 964 | 368 |
Unrealized securities gains and losses | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' |
Balance at the beginning of the period | -3,892 | 3,295 |
Amounts recognized in other comprehensive income, net of taxes | 1,871 | -714 |
Reclassified amounts out of accumulated other comprehensive income, net of tax | 0 | 117 |
Balance at the end of the period | -2,021 | 2,464 |
Pension and post- retirement costs | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' |
Balance at the beginning of the period | -1,296 | -2,055 |
Amounts recognized in other comprehensive income, net of taxes | 0 | 0 |
Reclassified amounts out of accumulated other comprehensive income, net of tax | 0 | 0 |
Balance at the end of the period | ($1,296) | ($2,055) |