Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Mar. 06, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | AMERICAN NATIONAL BANKSHARES INC. | |
Entity Central Index Key | 741516 | |
Current Fiscal Year End Date | -19 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 8,727,696 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and due from banks | $23,995 | $29,272 |
Interest-bearing deposits in other banks | 75,254 | 38,031 |
Federal Funds Sold | 13,616 | 0 |
Securities available for sale, at fair value | 352,208 | 344,716 |
Restricted stock, at cost | 5,231 | 4,468 |
Loans held for sale | 1,936 | 616 |
Loans, net of unearned income | 965,902 | 840,925 |
Less allowance for loan losses | -12,844 | -12,427 |
Net loans | 953,058 | 828,498 |
Premises and equipment, net | 24,371 | 23,025 |
Other real estate owned, net | 2,653 | 2,119 |
Goodwill | 44,210 | 39,043 |
Core deposit intangibles, net | 3,583 | 2,045 |
Bank owned life insurance | 17,261 | 15,193 |
Accrued interest receivable and other assets | 22,722 | 19,466 |
Total assets | 1,540,098 | 1,346,492 |
Liabilities | ||
Demand deposits -- noninterest bearing | 289,818 | 254,458 |
Demand deposits -- interest bearing | 229,721 | 193,432 |
Money market deposits | 202,706 | 174,000 |
Savings deposits | 110,104 | 90,130 |
Time Deposits | 410,326 | 363,817 |
Total deposits | 1,242,675 | 1,075,837 |
Customer repurchase agreements | 53,664 | 53,480 |
Other short-term borrowings | 0 | 0 |
Long-term borrowings | 9,941 | 9,935 |
Trust preferred capital notes | 27,546 | 27,521 |
Accrued interest payable and other liabilities | 9,583 | 5,939 |
Total liabilities | 1,343,409 | 1,172,712 |
Shareholders' equity | ||
Preferred stock, $5 par, 2,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, $1 par, 20,000,000 shares authorized, 8,727,696 shares outstanding at March 31, 2015 and 7,873,474 shares outstanding at December 31, 2014 | 8,710 | 7,872 |
Capital in excess of par value | 77,612 | 57,650 |
Retained earnings | 106,102 | 104,594 |
Accumulated other comprehensive income, net | 4,265 | 3,664 |
Total shareholders' equity | 196,689 | 173,780 |
Total liabilities and shareholders' equity | $1,540,098 | $1,346,492 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Shareholders' equity | ||
Preferred stock, par value (in dollars per share) | $5 | $5 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares outstanding (in shares) | 8,727,696 | 7,873,474 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest and Dividend Income: | ||
Interest and fees on loans | $11,770 | $9,847 |
Interest on federal funds sold | 4 | 0 |
Interest and dividends on securities: | ||
Taxable | 975 | 964 |
Tax-exempt | 960 | 1,035 |
Dividends | 82 | 75 |
Other interest income | 48 | 33 |
Total interest and dividend income | 13,839 | 11,954 |
Interest Expense: | ||
Interest on deposits | 1,194 | 1,229 |
Interest on short-term borrowings | 3 | 2 |
Interest on long-term borrowings | 80 | 80 |
Interest on trust preferred capital notes | 184 | 184 |
Total interest expense | 1,461 | 1,495 |
Net Interest Income | 12,378 | 10,459 |
Provision for Loan Losses | 600 | 0 |
Net Interest Income After Provision for Loan Losses | 11,778 | 10,459 |
Noninterest Income: | ||
Trust fees | 952 | 1,122 |
Service charges on deposit accounts | 497 | 413 |
Other fees and commissions | 588 | 444 |
Mortgage banking income | 222 | 263 |
Securities gains, net | 310 | 39 |
Other | 587 | 422 |
Total noninterest income | 3,156 | 2,703 |
Noninterest Expense: | ||
Salaries | 4,147 | 3,538 |
Employee benefits | 1,075 | 975 |
Occupancy and equipment | 1,172 | 936 |
FDIC assessment | 185 | 164 |
Bank franchise tax | 235 | 222 |
Core deposit intangible amortization | 301 | 331 |
Data processing | 462 | 348 |
Software Expense | 283 | 262 |
Foreclosed real estate, net | 53 | 16 |
Merger related expense | 359 | 0 |
Other | 1,775 | 1,631 |
Total noninterest expense | 10,047 | 8,423 |
Income Before Income Taxes | 4,887 | 4,739 |
Income Taxes | 1,372 | 1,289 |
Net Income | $3,515 | $3,450 |
Net Income Per Common Share: | ||
Basic (in dollars per share) | $0.40 | $0.44 |
Diluted (in dollars per share) | $0.40 | $0.44 |
Average Common Shares Outstanding: | ||
Basic (in shares) | 8,723,633 | 7,904,759 |
Diluted (in shares) | 8,732,679 | 7,917,601 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||
Net income | $3,515 | $3,450 |
Other comprehensive income (loss): | ||
Unrealized gains (losses) on securities available for sale | 1,234 | 1,809 |
Income tax benefit (expense) | -432 | -633 |
Reclassification adjustment for (gains) on securities | -310 | -39 |
Income tax expense | 109 | 14 |
Other comprehensive income (loss) | 601 | 1,151 |
Comprehensive income (loss) | $4,116 | $4,601 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Capital in Excess of Par Value [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, unless otherwise specified | |||||
Balance at Dec. 31, 2013 | $7,891 | $58,050 | $99,090 | $2,520 | $167,551 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 0 | 0 | 3,450 | 0 | 3,450 |
Other comprehensive loss | 0 | 0 | 0 | 1,151 | 1,151 |
Stock options exercised | 0 | 0 | 0 | 0 | 0 |
Equity based compensation | 14 | 152 | 0 | 0 | 166 |
Cash dividends declared | 0 | 0 | -1,819 | 0 | -1,819 |
Balance at Mar. 31, 2014 | 7,905 | 58,202 | 100,721 | 3,671 | 170,499 |
Balance at Jan. 01, 2015 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 0 | 0 | 3,515 | 0 | 3,515 |
Other comprehensive loss | 0 | 0 | 0 | 601 | 601 |
Issuance of common stock | 826 | 19,657 | 0 | 0 | 20,483 |
Stock options exercised | 9 | 153 | 0 | 0 | 162 |
Equity based compensation | 3 | 152 | 0 | 0 | 155 |
Cash dividends declared | 0 | 0 | -2,007 | 0 | -2,007 |
Balance at Mar. 31, 2015 | $8,710 | $77,612 | $106,102 | $4,265 | $196,689 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | ||
Cash dividends declared (in dollars per share) | $0.23 | $0.23 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities: | ||
Net income | $3,515 | $3,450 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 600 | 0 |
Depreciation | 440 | 434 |
Net accretion of purchase accounting adjustments | -1,113 | -896 |
Core deposit intangible amortization | 301 | 331 |
Net amortization (accretion) of securities | 680 | 668 |
Net gain on sale or call of securities | -310 | -39 |
Gain on sale of loans held for sale | -166 | -215 |
Proceeds from sales of loans held for sale | 9,329 | 13,745 |
Originations of loans held for sale | -10,483 | -12,159 |
Net gain on foreclosed real estate | -27 | -49 |
Valuation allowance on foreclosed real estate | 22 | 24 |
Net gain on sale of premises and equipment | -5 | 0 |
Equity based compensation expense | 155 | 166 |
Net Change in Bank Owned Life Insurance | -113 | 0 |
Deferred income tax benefit | -143 | 94 |
Net change in interest receivable | 219 | 344 |
Net change in other assets | -56 | -565 |
Net change in interest payable | -1 | -43 |
Net change in other liabilities | 569 | 1,143 |
Net cash provided by operating activities | 3,413 | 6,433 |
Cash Flows from Investing Activities: | ||
Proceeds from sales of securities available for sale | 3,820 | 2,061 |
Proceeds from maturities, calls and paydowns of securities available for sale | 24,979 | 22,540 |
Purchases of securities available for sale | -16,936 | -26,459 |
Net change in restricted stock | -25 | 360 |
Net (increase) decrease in loans | -9,865 | 12,225 |
Proceeds from sale of premises and equipment | 42 | 0 |
Purchases of premises and equipment | -348 | -119 |
Proceeds from sales of foreclosed real estate | 316 | 232 |
Cash paid in bank acquisition | -5,935 | 0 |
Cash Acquired from Acquisition | 18,173 | 0 |
Net cash (used in) provided by investing activities | 14,221 | 10,840 |
Cash Flows from Financing Activities: | ||
Net change in demand, money market, and savings deposits | 37,878 | 5,164 |
Net change in time deposits | -8,289 | -11,590 |
Net change in customer repurchase agreements | 184 | -5,325 |
Common stock dividends paid | 0 | -38 |
Stock Repurchased | -2,007 | -1,819 |
Proceeds from exercise of stock options | 162 | 0 |
Net cash provided by financing activities | 27,928 | -13,608 |
Net Increase in Cash and Cash Equivalents | 45,562 | 3,665 |
Cash and Cash Equivalents at Beginning of Period | 67,681 | |
Cash and Cash Equivalents at End of Period | $112,865 | $71,346 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation |
       The consolidated financial statements include the accounts of American National Bankshares Inc. (the "Company") and its wholly owned subsidiary, American National Bank and Trust Company (the "Bank"). The Bank offers a wide variety of retail, commercial, secondary market mortgage lending, and trust and investment services which also include non-deposit products such as mutual funds and insurance policies. | |
       The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of foreclosed real estate, goodwill and intangible assets, the valuation of deferred tax assets, other-than-temporary impairments of securities, and acquired loans with specific credit-related deterioration. | |
       All significant inter-company transactions and accounts are eliminated in consolidation, with the exception of the AMNB Trust and the MidCarolina Trusts, as detailed in Note 9. | |
          In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the results of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results that may occur for the year ending December 31, 2015. Certain reclassifications have been made to prior period balances to conform to the current period presentation. These reclassifications did not have an impact on net income and were considered immaterial. These statements should be read in conjunction with the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. |
Merger_with_MainStreet
Merger with MainStreet | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Merger with MainStreet[Abstract] | |||||||||
Merger with MainStreet | Note 2 – Merger with MainStreet | ||||||||
         | |||||||||
On January 1, 2015, the Company completed its acquisition of MainStreet BankShares, Inc. ("MainStreet"). The merger of MainStreet with and into the Company was effected pursuant to the terms and conditions of the Agreement and Plan of Reorganization, dated as of August 24, 2014, between the Company and MainStreet, and a related Plan of Merger. Immediately after the merger, Franklin Community Bank, N.A., MainStreet's wholly owned bank subsidiary, merged with and into the Bank. Pursuant to the MainStreet merger agreement, holders of shares of MainStreet common stock received $3.46 in cash and 0.482 shares of the Company's common stock for each share of MainStreet common stock held immediately prior to the effective date of the merger, plus cash in lieu of fractional shares. Each option to purchase shares of MainStreet common stock that was outstanding immediately prior to the effective date of the merger vested upon the merger and was converted into an option to purchase shares of the Company's common stock, adjusted based on a 0.643 exchange ratio. Each share of the Company's common stock outstanding immediately prior to the merger remained outstanding and was unaffected by the merger. The cash portion of the merger consideration was funded through a cash dividend of $6,000,000 from the Bank to the Company, and no borrowing was incurred by the Company or the Bank in connection with the merger. Replacement stock option awards representing 43,086 shares of the Company's common stock were granted in conjunction with the MainStreet acquisition. The value of the consideration transferred with the replacement awards was not determined as of March 31, 2015; therefore, the amounts of the consideration transferred and goodwill recorded in connection with the merger will be adjusted for the value of the replacement awards in the second quarter of 2015. | |||||||||
    The transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration exchanged were recorded at estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition. | |||||||||
       In connection with the merger, the consideration paid, and the fair value of identifiable assets acquired and liabilities assumed as of the merger date are summarized in the following table (dollars in thousands). | |||||||||
Consideration Paid: | |||||||||
Common shares issued (825,586) | $ | 20,483 | |||||||
Cash paid to shareholders | 5,935 | ||||||||
Value of consideration | 26,418 | ||||||||
Assets acquired: | |||||||||
Cash and cash equivalents | 18,173 | ||||||||
Investment securities | 18,800 | ||||||||
Restricted stock | 738 | ||||||||
Loans | 114,902 | ||||||||
Premises and equipment | 1,475 | ||||||||
Deferred income taxes | 2,683 | ||||||||
Core deposit intangible | 1,839 | ||||||||
Other real estate owned | 168 | ||||||||
Banked owned life insurance | 1,955 | ||||||||
Other assets | 917 | ||||||||
Total assets | 161,650 | ||||||||
Liabilities assumed: | |||||||||
Deposits | 137,323 | ||||||||
Other liabilities | 3,076 | ||||||||
Total liabilities | 140,399 | ||||||||
Net assets acquired | 21,251 | ||||||||
Goodwill resulting from merger with MainStreet | $ | 5,167 | |||||||
       In many cases, the fair values of assets acquired and liabilities assumed were determined by estimating the cash flows expected to result from those assets and liabilities and discounting them at appropriate market rates. The most significant category of assets for which this procedure was used was that of acquired loans. The Company acquired the $122,300,000 loan portfolio at a fair value discount of $7,400,000. The estimated fair value of the performing portion of the portfolio was $105,800,000. The excess of expected cash flows above the fair value of the performing portion of loans will be accreted to interest income over the remaining lives of the loans in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 310-20. | |||||||||
      Certain loans, those for which specific credit-related deterioration since origination was identified, are recorded at fair value, reflecting the present value of the amounts expected to be collected. Income recognition on these loans is based on reasonable expectations about the timing and amount of cash flows to be collected. Acquired loans deemed impaired and considered collateral dependent, with the timing of the sale of loan collateral indeterminate, remain on non-accrual status and have no accretable yield. | |||||||||
      The following table details the acquired loans that are accounted for in accordance with FASB ASC 310-30 as of January 1, 2015 (dollars in thousands). | |||||||||
Contractually required principal and interest at acquisition | $ | 13,504 | |||||||
Contractual cash flows not expected to be collected (nonaccretable difference) | 3,298 | ||||||||
Expected cash flows at acquisition | 10,206 | ||||||||
Interest component of expected cash flows (accretable yield) | 1,208 | ||||||||
Fair value of acquired loans accounted for under FASB ASC 310-30 | $ | 8,998 | |||||||
In accordance with GAAP, there was no carryover of the allowance for loan losses that had been previously recorded by MainStreet. | |||||||||
In connection with the merger with MainStreet, the Company acquired an investment portfolio with a fair value of $18,800,000. The fair value of the investment portfolio was determined by taking into account market prices obtained from independent valuation sources. | |||||||||
In connection with the merger with MainStreet, the Company recorded a deferred income tax asset of $2,700,0000 related to tax attributes of MainStreet, along with the effects of fair value adjustments resulting from applying the acquisition method of accounting. | |||||||||
In connection with the merger with MainStreet, the Company acquired other real estate owned with a fair value of $168,000. Other real estate owned was measured at fair value less estimated cost to sell. | |||||||||
In connection with the merger with MainStreet, the Company acquired premises and equipment with a fair value of $1,400,000. | |||||||||
The fair value of savings and transaction deposit accounts acquired from MainStreet was assumed to approximate their carrying value as these accounts have no stated maturity and are payable on demand. Certificates of deposit accounts were valued by comparing the contractual cost of the portfolio to an identical portfolio bearing current market rates. The portfolio was segregated into pools based on segments: retail, individual retirement accounts, and brokered. For each segment, the projected cash flows from maturing certificates were then calculated based on contractual rates and prevailing market rates. The valuation adjustment for each segment is equal to the present value of the difference of these two cash flows, discounted at the assumed market rate for a certificate with a corresponding maturity. This valuation adjustment of $290,000 will be accreted to reduce interest expense over the average remaining maturities of the respective pools, which is estimated to be 12 months. | |||||||||
A core deposit intangible of $1,800,000 was recognized in connection with the merger with MainStreet. This intangible will be amortized over a 10 year period on an accelerated cost recovery basis. | |||||||||
Direct costs related to the acquisition were expensed as incurred. During the entire year of 2011, the Company incurred $359,000 in merger and acquisition expenses. | |||||||||
The following table presents unaudited pro forma information as if the merger with MainStreet had occurred on January 1, 2014. This pro forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of core deposit intangible and related income tax effects. The pro forma information does not necessarily reflect the results of operations that would have occurred had the merger with MainStreet occurred in 2014. In particular, expected operational cost savings are not reflected in the pro forma amounts (dollars in thousands):. | |||||||||
Pro forma | |||||||||
Three Months Ended | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net interest income | $ | 11,980 | $ | 12,420 | |||||
Provision for loan loss | (600 | ) | - | ||||||
Non-interest income | 3,156 | 2,914 | |||||||
Non-interest expense and income taxes | (11,134 | ) | (11,439 | ) | |||||
Net income | $ | 3,402 | $ | 3,895 |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||
Securities | Note 3 – Securities | ||||||||||||||||||||||||
       The amortized cost and fair value of investments in debt and equity securities at March 31, 2015 and December 31, 2014 were as follows (dollars in thousands): | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
Federal agencies and GSEs | $ | 78,383 | $ | 513 | $ | 9 | $ | 78,887 | |||||||||||||||||
Mortgage-backed and CMOs | 63,514 | 1,400 | 65 | 64,849 | |||||||||||||||||||||
State and municipal | 190,539 | 7,717 | 56 | 198,200 | |||||||||||||||||||||
Corporate | 8,854 | 66 | 13 | 8,907 | |||||||||||||||||||||
Equity securities | 1,000 | 365 | - | 1,365 | |||||||||||||||||||||
Total securities available for sale | $ | 342,290 | $ | 10,061 | $ | 143 | $ | 352,208 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
Federal agencies and GSEs | $ | 81,958 | $ | 252 | $ | 104 | $ | 82,106 | |||||||||||||||||
Mortgage-backed and CMOs | 56,289 | 1,248 | 112 | 57,425 | |||||||||||||||||||||
State and municipal | 188,060 | 7,523 | 90 | 195,493 | |||||||||||||||||||||
Corporate | 8,416 | 16 | 53 | 8,379 | |||||||||||||||||||||
Equity securities | 1,000 | 313 | - | 1,313 | |||||||||||||||||||||
Total securities available for sale | $ | 335,723 | $ | 9,352 | $ | 359 | $ | 344,716 | |||||||||||||||||
Restricted Stock | |||||||||||||||||||||||||
Due to restrictions placed upon the Bank's common stock investment in the Federal Reserve Bank of Richmond ("FRB") and Federal Home Loan Bank of Atlanta ("FHLB"), these securities have been classified as restricted equity securities and carried at cost. The restricted securities are not subject to the investment security classification and are included as a separate line item on the Company's balance sheet. The FRB requires the Bank to maintain stock with a par value equal to 6.0% of its common stock and paid-in surplus. One-half of this amount is paid to the FRB and the remaining half is subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. The FHLB requires the Bank to maintain stock in an amount equal to a specific percentage of the Bank's total assets and 4.5% of outstanding borrowings. The Bank also owns common stock in CBB Financial Corporation and Pacific Coast Bankers Bankshares, which both provide services to community banks. The cost of restricted stock at March 31, 2015 and December 31, 2014 were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
FRB stock | $ | 3,177 | $ | 2,742 | |||||||||||||||||||||
FHLB stock | 1,802 | 1,625 | |||||||||||||||||||||||
CBB Financial Corporation stock | 150 | 101 | |||||||||||||||||||||||
 Pacific Coast Bankers Bankshares stock | 102 | - | |||||||||||||||||||||||
   Total restricted stock | $ | 5,231 | $ | 4,468 | |||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||
     The following table shows fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015. The reference point for determining when securities are in an unrealized loss position is month-end. Therefore, it is possible that a security's market value exceeded its amortized cost on other days during the past twelve-month period (dollars in thousands). | |||||||||||||||||||||||||
Total | Less than 12 Months | 12 Months or More | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Federal agencies and GSEs | $ | 7,589 | $ | 9 | $ | 5,492 | $ | 6 | $ | 2,097 | $ | 3 | |||||||||||||
Mortgage-backed and CMOs | 7,335 | 65 | 5,095 | 39 | 2,240 | 26 | |||||||||||||||||||
State and municipal | 13,213 | 56 | 13,213 | 56 | - | - | |||||||||||||||||||
Corporate | 2,778 | 13 | 1,162 | 1 | 1,616 | 12 | |||||||||||||||||||
Total | $ | 30,915 | $ | 143 | $ | 24,962 | $ | 102 | $ | 5,953 | $ | 41 | |||||||||||||
Federal Agencies and GSE debt securities: The unrealized losses on the Company's investment in four government sponsored entities ("GSE") were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
Mortgage-backed securities and CMOs: The unrealized losses on the Company's investment in 13 GSE mortgage-backed securities and collateralized mortgage obligations ("CMOs") were caused by interest rate increases. The contractual cash flows of those investments are guaranteed by an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost basis of the Company's investments. Because the decline in market value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
State and municipal securities:Â The unrealized losses on 14 state and municipal securities were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
Corporate securities:Â The unrealized losses on three investments in corporate securities were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
Restricted stock: When evaluating restricted stock for impairment, its value is based on the ultimate recoverablity of the par value rather than by recognizing temporary declines in value. The company does not consider restricted stock to be other-than-temoraily impaired at March 31, 2015, and no impairment has been recognized. | |||||||||||||||||||||||||
       The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Total | Less than 12 Months | 12 Months or More | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Federal agencies and GSEs | $ | 28,979 | $ | 104 | $ | 21,449 | $ | 35 | $ | 7,530 | $ | 69 | |||||||||||||
Mortgage-backed and CMOs | 7,182 | 112 | 1,171 | 13 | 6,011 | 99 | |||||||||||||||||||
State and municipal | 20,542 | 90 | 15,836 | 60 | 4,706 | 30 | |||||||||||||||||||
Corporate | 5,032 | 53 | 2,273 | 4 | 2,759 | 49 | |||||||||||||||||||
Total | $ | 61,735 | $ | 359 | $ | 40,729 | $ | 112 | $ | 21,006 | $ | 247 | |||||||||||||
Other-Than-Temporary-Impaired Securities | |||||||||||||||||||||||||
       As of March 31, 2015 and December 31, 2014, there were no securities classified as having other-than-temporary impairment. |
Loans
Loans | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Loans | Note 4 – Loans | ||||||||||||||||||||||||||||
Segments | |||||||||||||||||||||||||||||
       Loans, excluding loans held for sale, as of March 31, 2015 and December 31, 2014 were comprised of the following (dollars in thousands): | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Commercial | $ | 146,280 | $ | 126,981 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 68,069 | 50,863 | |||||||||||||||||||||||||||
Commercial real estate | 436,562 | 391,472 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||
Residential | 211,261 | 175,293 | |||||||||||||||||||||||||||
Home equity | 97,811 | 91,075 | |||||||||||||||||||||||||||
Consumer | 5,919 | 5,241 | |||||||||||||||||||||||||||
Total loans | $ | 965,902 | $ | 840,925 | |||||||||||||||||||||||||
Accretable Yield | |||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 1,440 | |||||||||||||||||||||||||||
Additions from merger with MainStreet | 1,208 | ||||||||||||||||||||||||||||
Accretion | (268 | ) | |||||||||||||||||||||||||||
Reclassification from nonaccretable difference | 2,851 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | $ | 5,231 | |||||||||||||||||||||||||||
Past Due Loans | |||||||||||||||||||||||||||||
     The following table shows an analysis by portfolio segment of the Company's past due loans at March 31, 2015 (dollars in thousands): | |||||||||||||||||||||||||||||
30- 59 Days | 60-89 Days | 90 Days + | Non- | Total | Current | Total | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Accrual | Past | Loans | ||||||||||||||||||||||||
and Still | Loans | Due | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial | $ | 51 | $ | - | $ | - | $ | 157 | $ | 208 | $ | 146,072 | $ | 146,280 | |||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 108 | - | - | 572 | 680 | 67,389 | 68,069 | ||||||||||||||||||||||
Commercial real estate | 341 | - | - | 3,242 | 3,583 | 432,979 | 436,562 | ||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 776 | 177 | - | 678 | 1,631 | 209,630 | 211,261 | ||||||||||||||||||||||
Home equity | 98 | 424 | - | 432 | 954 | 96,857 | 97,811 | ||||||||||||||||||||||
Consumer | 2 | 1 | - | 42 | 45 | 5,874 | 5,919 | ||||||||||||||||||||||
Total | $ | 1,376 | $ | 602 | $ | - | $ | 5,123 | $ | 7,101 | $ | 958,801 | $ | 965,902 | |||||||||||||||
       The following table shows an analysis by portfolio segment of the Company's past due loans at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
30- 59 Days | 60-89 Days | 90 Days + | Non- | Total | Current | Total | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Accrual | Past | Loans | ||||||||||||||||||||||||
and Still | Loans | Due | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial | $ | 114 | $ | 165 | $ | - | $ | - | $ | 279 | $ | 126,702 | $ | 126,981 | |||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 44 | 269 | - | 279 | 592 | 50,271 | 50,863 | ||||||||||||||||||||||
Commercial real estate | 257 | - | - | 3,010 | 3,267 | 388,205 | 391,472 | ||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 390 | 325 | - | 560 | 1,275 | 174,018 | 175,293 | ||||||||||||||||||||||
Home equity | 223 | 60 | - | 262 | 545 | 90,530 | 91,075 | ||||||||||||||||||||||
Consumer | 1 | 42 | - | 1 | 44 | 5,197 | 5,241 | ||||||||||||||||||||||
Total | $ | 1,029 | $ | 861 | $ | - | $ | 4,112 | $ | 6,002 | $ | 834,923 | $ | 840,925 | |||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
      The following table presents the Company's impaired loan balances by portfolio segment, excluding loans acquired with deteriorated credit quality, at March 31, 2015 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 157 | $ | 157 | $ | - | $ | 160 | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 1,111 | 1,161 | - | 1,115 | 8 | ||||||||||||||||||||||||
Commercial real estate | 414 | 475 | - | 420 | - | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 658 | 658 | - | 642 | 4 | ||||||||||||||||||||||||
Home equity | 758 | 759 | - | 553 | 4 | ||||||||||||||||||||||||
Consumer | 43 | 42 | - | 43 | - | ||||||||||||||||||||||||
$ | 3,141 | $ | 3,252 | $ | - | $ | 2,933 | $ | 16 | ||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 6 | 6 | - | 6 | - | ||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | - | - | - | - | - | ||||||||||||||||||||||||
Commercial real estate | 1,941 | 2,011 | 104 | 1,946 | 3 | ||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Residential | 183 | 183 | 12 | 183 | 2 | ||||||||||||||||||||||||
Home equity | 8 | 8 | - | 8 | - | ||||||||||||||||||||||||
Consumer | 14 | 14 | - | 15 | - | ||||||||||||||||||||||||
$ | 2,152 | $ | 2,222 | $ | 116 | $ | 2,158 | $ | 5 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial | $ | 163 | $ | 163 | $ | - | $ | 166 | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 1,111 | 1,161 | - | 1,115 | 8 | ||||||||||||||||||||||||
Commercial real estate | 2,355 | 2,486 | 104 | 2,366 | 3 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 841 | 841 | 12 | 825 | 6 | ||||||||||||||||||||||||
Home equity | 766 | 767 | - | 561 | 4 | ||||||||||||||||||||||||
Consumer | 57 | 56 | - | 58 | - | ||||||||||||||||||||||||
$ | 5,293 | $ | 5,474 | $ | 116 | $ | 5,091 | $ | 21 | ||||||||||||||||||||
       The following table presents the Company's impaired loan balances by portfolio segment, excluding loans acquired with deteriorated credit quality, at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 7 | $ | 7 | $ | - | $ | 12 | $ | 1 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 280 | 325 | - | 448 | - | ||||||||||||||||||||||||
Commercial real estate | 1,520 | 1,797 | - | 1,844 | - | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 603 | 603 | - | 723 | 8 | ||||||||||||||||||||||||
Home equity | 256 | 256 | - | 316 | - | ||||||||||||||||||||||||
   Consumer | 1 | 1 | - | 2 | - | ||||||||||||||||||||||||
$ | 2,667 | $ | 2,989 | $ | - | $ | 3,345 | $ | 9 | ||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 576 | 577 | 12 | 593 | 34 | ||||||||||||||||||||||||
Commercial real estate | 1,275 | 1,422 | 149 | 1,297 | 8 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 4 | 4 | 1 | 4 | - | ||||||||||||||||||||||||
Home equity | - | - | - | - | - | ||||||||||||||||||||||||
   Consumer | 15 | 15 | 3 | 17 | 1 | ||||||||||||||||||||||||
$ | 1,870 | $ | 2,018 | $ | 165 | $ | 1,911 | $ | 43 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial | $ | 7 | $ | 7 | $ | - | $ | 12 | $ | 1 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 856 | 902 | 12 | 1,041 | 34 | ||||||||||||||||||||||||
Commercial real estate | 2,795 | 3,219 | 149 | 3,141 | 8 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 607 | 607 | 1 | 727 | 8 | ||||||||||||||||||||||||
Home equity | 256 | 256 | - | 316 | - | ||||||||||||||||||||||||
   Consumer | 16 | 16 | 3 | 19 | 1 | ||||||||||||||||||||||||
$ | 4,537 | $ | 5,007 | $ | 165 | $ | 5,256 | $ | 52 | ||||||||||||||||||||
The following table shows the detail of loans modified as troubled debt restructurings ("TDRs")Â during the three months ended March 31, 2015Â included in the impaired loan balances. There were no loans modified as TDRs during the three months ended March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Loans Modified as a TDR for the | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
 Loan Type | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | ||||||||||||||||||||||||
Commercial real estate | 1 | 8 | 8 | ||||||||||||||||||||||||||
   Construction and land development | - | - | - | ||||||||||||||||||||||||||
   Home Equity | 2 | 341 | 341 | ||||||||||||||||||||||||||
   Residential real estate | - | - | - | ||||||||||||||||||||||||||
Consumer | - | - | - | ||||||||||||||||||||||||||
Total | 3 | $ | 349 | $ | 349 | ||||||||||||||||||||||||
      During the three months ended March 31, 2015 and 2014, the Company had no loans that subsequently defaulted within twelve months of modification as a TDR. The Company defines defaults as one or more payments that occur more than 90 days past the due date, charge-off or foreclosure subsequent to modification. | |||||||||||||||||||||||||||||
Residential Real Estate in Process of Foreclosure | |||||||||||||||||||||||||||||
The company had $111,000 in residential real estate in the process of foreclosure. | |||||||||||||||||||||||||||||
Risk Grades | |||||||||||||||||||||||||||||
       The following table shows the Company's loan portfolio broken down by internal risk grading as of March 31, 2015 (dollars in thousands): | |||||||||||||||||||||||||||||
Commercial and Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | |||||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Construction | Other | ||||||||||||||||||||||||||||
Pass | $ | 143,138 | $ | 60,150 | $ | 417,148 | $ | 191,888 | $ | 94,742 | |||||||||||||||||||
Special Mention | 2,727 | 3,621 | 11,153 | 13,990 | 2,015 | ||||||||||||||||||||||||
Substandard | 415 | 4,298 | 8,261 | 5,383 | 1,054 | ||||||||||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||||||||
Total | $ | 146,280 | $ | 68,069 | $ | 436,562 | $ | 211,261 | $ | 97,811 | |||||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Performing | $ | 5,877 | |||||||||||||||||||||||||||
Nonperforming | 42 | ||||||||||||||||||||||||||||
Total | $ | 5,919 | |||||||||||||||||||||||||||
     The following table shows the Company's loan portfolio broken down by internal risk grading as of December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Commercial and Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | |||||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Construction | Other | ||||||||||||||||||||||||||||
Pass | $ | 125,405 | $ | 45,534 | $ | 382,607 | $ | 165,367 | $ | 88,646 | |||||||||||||||||||
Special Mention | 1,569 | 569 | 4,889 | 6,709 | 1,801 | ||||||||||||||||||||||||
Substandard | 7 | 4,760 | 3,976 | 3,217 | 628 | ||||||||||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||||||||
Total | $ | 126,981 | $ | 50,863 | $ | 391,472 | $ | 175,293 | $ | 91,075 | |||||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Performing | $ | 5,240 | |||||||||||||||||||||||||||
Nonperforming | 1 | ||||||||||||||||||||||||||||
Total | $ | 5,241 | |||||||||||||||||||||||||||
       Loans classified in the Pass category typically are fundamentally sound and risk factors are reasonable and acceptable. | |||||||||||||||||||||||||||||
       Loans classified in the Special Mention category typically have been criticized internally, by loan review or the loan officer, or by external regulators under the current credit policy regarding risk grades. | |||||||||||||||||||||||||||||
       Loans classified in the Substandard category typically have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are typically characterized by the possibility that the Bank will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||
        Loans classified in the Doubtful category typically have all the weaknesses inherent in loans classified as substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. However, these loans are not yet rated as loss because certain events may occur that may salvage the debt. | |||||||||||||||||||||||||||||
       Consumer loans are classified as performing or nonperforming. A loan is nonperforming when payments of interest and principal are past due 90 days or more, or payments are less than 90 days past due, but there are other good reasons to doubt that payment will be made in full. |
Allowance_for_Loan_Losses_and_
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments [Abstract] | |||||||||||||||||||||||||
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments | Note 5 – Allowance for Loan Losses and Reserve for Unfunded Lending Commitments | ||||||||||||||||||||||||
       Changes in the allowance for loan losses and the reserve for unfunded lending commitments as of the indicated dates and periods are presented below (dollars in thousands): | |||||||||||||||||||||||||
       The reserve for unfunded loan commitments is included in other liabilities. | |||||||||||||||||||||||||
Three Months Ended | Year Ended | Three Months Ended | |||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | |||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance, beginning of period | $ | 12,427 | $ | 12,600 | $ | 12,600 | |||||||||||||||||||
Provision for loan losses | 600 | 400 | - | ||||||||||||||||||||||
Charge-offs | (309 | ) | (964 | ) | (73 | ) | |||||||||||||||||||
Recoveries | 126 | 391 | 87 | ||||||||||||||||||||||
Balance, end of period | $ | 12,844 | $ | 12,427 | $ | 12,614 | |||||||||||||||||||
Reserve for Unfunded Lending Commitments | |||||||||||||||||||||||||
Balance, beginning of period | $ | 163 | $ | 210 | $ | 210 | |||||||||||||||||||
Provision for (recovery of) loan losses | 6 | (47 | ) | 7 | |||||||||||||||||||||
Charge-offs | - | - | - | ||||||||||||||||||||||
Balance, end of period | $ | 169 | $ | 163 | $ | 217 | |||||||||||||||||||
     The following table presents the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at March 31, 2015 (dollars in thousands): | |||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Unallocated | Total | ||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Charge-offs | - | (267 | ) | (7 | (35 | - | (309 | ||||||||||||||||||
) | ) | ) | |||||||||||||||||||||||
Recoveries | 9 | 57 | 27 | 33 | - | 126 | |||||||||||||||||||
Provision for loan losses | 1 | 434 | 156 | (2 | 11 | 600 | |||||||||||||||||||
) | |||||||||||||||||||||||||
Balance as of March 31, 2015 | $ | 1,828 | $ | 7,038 | $ | 3,891 | $ | 76 | $ | 11 | $ | 12,844 | |||||||||||||
Balance as of March 31, 2015: | |||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 104 | $ | 12 | $ | - | $ | - | $ | 116 | |||||||||||||
Collectively evaluated for impairment | 1,826 | 6,496 | 3,397 | 76 | 11 | 11,806 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 2 | 438 | 482 | - | - | 922 | |||||||||||||||||||
Total | $ | 1,828 | $ | 7,038 | $ | 3,891 | $ | 76 | $ | 11 | $ | 12,844 | |||||||||||||
Loans | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 163 | $ | 3,466 | $ | 1,607 | $ | 57 | $ | - | $ | 5,293 | |||||||||||||
Collectively evaluated for impairment | 145,874 | 488,377 | 299,025 | 5,575 | - | 938,851 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 243 | 12,788 | 8,440 | 287 | - | 21,758 | |||||||||||||||||||
Total | $ | 146,280 | $ | 504,631 | $ | 309,072 | $ | 5,919 | $ | - | $ | 965,902 | |||||||||||||
       The following table presents the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Unallocated | Total | ||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,810 | $ | 6,819 | $ | 3,690 | $ | 99 | $ | 182 | $ | 12,600 | |||||||||||||
Charge-offs | (101 | ) | (510 | ) | (258 | ) | (95 | ) | - | (964 | ) | ||||||||||||||
Recoveries | 51 | 66 | 191 | 83 | - | 391 | |||||||||||||||||||
Provision for loan losses | 58 | 439 | 92 | (7 | ) | (182 | ) | 400 | |||||||||||||||||
Balance as of December 31, 2014 | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Balance as of December 31, 2014: | |||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 161 | $ | 1 | $ | 3 | $ | - | $ | 165 | |||||||||||||
Collectively evaluated for impairment | 1,815 | 6,400 | 3,424 | 77 | - | 11,716 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 3 | 253 | 290 | - | - | 546 | |||||||||||||||||||
Total | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Loans | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7 | $ | 3,651 | $ | 863 | $ | 16 | $ | - | $ | 4,537 | |||||||||||||
Collectively evaluated for impairment | 126,774 | 429,660 | 259,796 | 5,225 | - | 821,455 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 200 | 9,024 | 5,709 | - | - | 14,933 | |||||||||||||||||||
Total | $ | 126,981 | $ | 442,335 | $ | 266,368 | $ | 5,241 | $ | - | $ | 840,925 | |||||||||||||
       The allowance for loan losses is allocated to loan segments based upon historical loss factors, risk grades on individual loans, portfolio analyses of smaller balance, homogenous loans, and qualitative factors. Qualitative factors include trends in delinquencies, nonaccrual loans, and loss rates; trends in volume and terms of loans, effects of changes in risk selection, underwriting standards, and lending policies; experience of lending officers and other lending staff; national, regional, and local economic trends and conditions; legal, regulatory and collateral factors; and concentrations of credit. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Goodwill and Other Intangible Assets [Abstract] | |||||||||
Goodwill and Other Intangible Assets | Note 6 – Goodwill and Other Intangible Assets | ||||||||
       The Company records as goodwill the excess of the purchase price over the fair value of the identifiable net assets acquired. Impairment testing is performed annually, as well as when an event triggering impairment may have occurred. The Company performs its annual analysis as of June 30 each fiscal year. Accounting guidance permits preliminary assessment of qualitative factors to determine whether more substantial impairment testing is required. The Company chose to bypass the preliminary assessment and utilized a two-step process for impairment testing of goodwill. The first step tests for impairment, while the second step, if necessary, measures the impairment. No indicators of impairment were identified as of June 30, 2014. | |||||||||
       Core deposit intangibles resulting from the acquisition of Community First Financial Corporation ("Community First") in April 2006 were $6,556,000 and are being amortized over 108 months. Core deposit intangibles resulting from the MidCarolina acquisition in July 2011 were $3,112,000 and are being amortized on an accelerated basis over 120 months. Core deposit intangibles resulting from the MainSteeet acquisition in January 2015 were $1,839,000 and are being amortized on an accelerated basis over 120 months. | |||||||||
       The changes in the carrying amount of goodwill and intangibles for the three months ended March 31, 2015, are as follows (dollars in thousands): | |||||||||
Goodwill | Intangibles | ||||||||
Balance as of December 31, 2014 | $ | 39,043 | $ | 2,045 | |||||
Additions | 5,167 | 1,839 | |||||||
Amortization | - | (301 | ) | ||||||
Impairment | - | - | |||||||
Balance as of March 31, 2015 | $ | 44,210 | $ | 3,583 |
Shortterm_Borrowings
Short-term Borrowings | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Short-term Borrowings [Abstract] | |||||||||
Short-term Borrowings | Note 7 – Short-term Borrowings | ||||||||
       Short-term borrowings consist of customer repurchase agreements, overnight borrowings from the FHLB, and Federal Funds purchased. Customer repurchase agreements are collateralized by securities of the U.S. Government or its agencies or GSEs. They mature daily. The interest rates may be changed at the discretion of the Company. The securities underlying these agreements remain under the Company's control. Other short-term borrowings consist of overnight advances which contain floating interest rates that may change daily at the discretion of the FHLB. Federal Funds purchased are unsecured overnight borrowings from other financial institutions. There were no customer repurchase agreements acquired in the MainStreet acquisition. Short-term borrowings consisted of the following at March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||
31-Mar-15 | 31-Dec-14 | ||||||||
Customer repurchase agreements | $ | 53,664 | $ | 53,480 | |||||
$ | 53,664 | $ | 53,480 |
Longterm_Borrowings
Long-term Borrowings | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Long-term Borrowings [Abstract] | |||||||||||||||||||
Long-term Borrowings | Note 8 – Long-term Borrowings | ||||||||||||||||||
       Under the terms of its collateral agreement with the FHLB, the Company provides a blanket lien covering all of its residential first mortgage loans, second mortgage loans, home equity lines of credit, and commercial real estate loans. In addition, the Company pledges as collateral its capital stock in the FHLB and deposits with the FHLB. The Company has a line of credit with the FHLB equal to 30% of the Company's assets, subject to the amount of collateral pledged. As of March 31, 2015, $405,936,000 in eligible collateral was pledged under the blanket floating lien agreement which covers both short-term and long-term borrowings. Long-term borrowings consisted of the following fixed rate, long-term advances as of March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||
Due by | Advance | Weighted | Due by | Advance Amount | Weighted | ||||||||||||||
Amount | Average | Average | |||||||||||||||||
Rate | Rate | ||||||||||||||||||
Nov-17 | $ | 9,941 | 2.98 | % | Nov-17 | 9,935 | 2.98 | % | |||||||||||
$ | 9,941 | 2.98 | % | $ | 9,935 | 2.98 | % | ||||||||||||
      The advance due in November 2017 is net of a fair value discount of $59,000. The original discount recorded on July 1, 2011, was a result of the merger with MidCarolina. The adjustment to the face value will be amortized into interest expense over the life of the borrowing. There were no long-term borrowings acquired in the MainStreet acquisition and no borrowings were incurred to fund the acquisition. | |||||||||||||||||||
       In the regular course of conducting its business, the Company takes deposits from political subdivisions of the states of Virginia and North Carolina. At March 31, 2015, the Bank's public deposits totaled $136,218,000. The Company is required to provide collateral to secure the deposits that exceed the insurance coverage provided by the Federal Deposit Insurance Corporation. This collateral can be provided in the form of certain types of government or agency bonds or letters of credit from the FHLB. At March 31, 2015, the Company had $70,000,000 in letters of credit with the FHLB outstanding, as well as $116,655,000 in agency, state, and municipal securities to provide collateral for such deposits. |
Trust_Preferred_Capital_Notes
Trust Preferred Capital Notes | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Trust Preferred Capital Notes [Abstract] | |||||||||||||||||||||
Trust Preferred Capital Notes | Note 9 – Trust Preferred Capital Notes | ||||||||||||||||||||
       On April 7, 2006, AMNB Statutory Trust I (the "AMNB Trust I"), a Delaware statutory trust and a wholly owned subsidiary of the Company, issued $20,000,000 of preferred securities (the "Trust Preferred Securities") in a private placement pursuant to an applicable exemption from registration. The Trust Preferred Securities mature on September 30, 2036, but may be redeemed at the Company's option (which option became effective beginning on September 30, 2011). Initially, the securities required quarterly distributions by the AMNB Trust I to the holder of the Trust Preferred Securities at a fixed rate of 6.66%. Effective September 30, 2011, the rate resets quarterly at the three-month LIBOR plus 1.35%. Distributions are cumulative and will accrue from the date of original issuance, but may be deferred by the Company from time to time for up to 20 consecutive quarterly periods. The Company has guaranteed the payment of all required distributions on the Trust Preferred Securities. | |||||||||||||||||||||
       The proceeds of the Trust Preferred Securities received by the AMNB Trust, along with proceeds of $619,000 received by the trust from the issuance of common securities by the trust to the Company, were used to purchase $20,619,000 of the Company's junior subordinated debt securities (the "Trust Preferred Capital Notes"), issued pursuant to junior subordinated debentures entered into between the Company and Wilmington Trust Company, as trustee. The proceeds of the Trust Preferred Capital Notes were used to fund the cash portion of the merger consideration to the former shareholders of Community First in connection with the Company's acquisition of that company, and for general corporate purposes. | |||||||||||||||||||||
       On July 1, 2011, in connection with the MidCarolina merger, the Company assumed $8,764,000 in junior subordinated debentures to MidCarolina Trust I and MidCarolina Trust II, two separate Delaware statutory trusts (the "MidCarolina Trusts"), to fully and unconditionally guarantee the preferred securities issued by the MidCarolina Trusts. These long-term obligations, which currently qualify as Tier 1 capital, constitute a full and unconditional guarantee by the Company of the MidCarolina Trusts' obligations. The MidCarolina Trusts are not consolidated in the Company's financial statements. | |||||||||||||||||||||
       In accordance with FASB ASC 810-10-15-14, the Company did not eliminate through consolidation the Company's $619,000 equity investment in AMNB Trust I or the $264,000 equity investment in the MidCarolina Trusts. Instead, the Company reflected this equity investment in the "Accrued interest receivable and other assets" line item in the consolidated balance sheets. | |||||||||||||||||||||
       A description of the junior subordinated debt securities outstanding payable to the trusts is shown below as of  March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||||||||||||||
Date | Interest | Maturity | Principal Amount | ||||||||||||||||||
Issuing Entity | Issued | Rate | Date | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
AMNB Trust I | 4/7/06 | Libor plus | 6/30/36 | $ | 20,619 | $ | 20,619 | ||||||||||||||
1.35 | % | ||||||||||||||||||||
MidCarolina Trust I | 10/29/02 | Libor plus | 11/7/32 | 4,168 | 4,154 | ||||||||||||||||
3.45 | % | ||||||||||||||||||||
MidCarolina Trust II | 12/3/03 | Libor plus | 10/7/33 | 2,759 | 2,748 | ||||||||||||||||
2.95 | % | ||||||||||||||||||||
$ | 27,546 | $ | 27,521 | ||||||||||||||||||
       The principal amounts reflected for the MidCarolina Trusts are net of fair value adjustments of $987,000 and $850,000, respectively. The original fair value adjustments of $1,197,000 and $1,021,000 were recorded as a result of the merger with MidCarolina on July 1, 2011, and are being amortized into interest expense over the remaining lives of the respective borrowings. |
Stock_Based_Compensation
Stock Based Compensation | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Stock-Based Compensation [Abstract] | |||||||||||||||
Stock-Based Compensation | Note 10 – Stock Based Compensation | ||||||||||||||
      The Company's 2008 Stock Incentive Plan ("2008 Plan") was adopted by the Board of Directors of the Company on February 19, 2008, and approved by shareholders on April 22, 2008, at the Company's 2008 Annual Meeting of Shareholders. The 2008 Plan provides for the granting of restricted stock awards and incentive and non-statutory options to employees and directors on a periodic basis, at the discretion of the Board of Directors or a Board designated committee. The 2008 Plan authorizes the issuance of up to 500,000 shares of common stock. The 2008 Plan replaced the Company's stock option plan that was approved by the shareholders at the 1997 Annual Meeting. The prior stock option plan was terminated in 2006. | |||||||||||||||
Stock Options | |||||||||||||||
       Accounting guidance requires that compensation cost relating to share-based payment transactions be recognized in the financial statements with measurement based upon the fair value of the equity or liability instruments issued. | |||||||||||||||
       A summary of stock option transactions for the three months ended March 31, 2015 is as follows: | |||||||||||||||
Option | Weighted | Weighted | Aggregate | ||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | |||||||||||||
Price | Contractual Term | $0 | |||||||||||||
Outstanding at December 31, 2014 | 110,947 | $ | 26.08 | ||||||||||||
Acquired in acquisition | 43,086 | 20.02 | |||||||||||||
Granted | - | - | |||||||||||||
Exercised | 9,175 | 17.63 | |||||||||||||
Forfeited | - | - | |||||||||||||
Expired | - | $ | - | ||||||||||||
Outstanding at March 31, 2015 | 144,858 | 24.81 | 2.08 years | $ | 164 | ||||||||||
Exercisable at March 31, 2015 | 144,858 | $ | 24.81 | 2.08 years | $ | 164 | |||||||||
Replacement stock option awards representing 43,086 shares of the Company's common stock were granted in conjunction with the MainStreet acquisition. The value of the consideration transferred with the replacement awards was not determined as of March 31, 2015; therefore, the amounts of the consideration transferred and goodwill recorded in connection with the merger will be adjusted for the value of the replacement awards in the second quarter of 2015. | |||||||||||||||
The fair value of options is estimated at the date of grant using the Black-Scholes option pricing model and expensed over the options' vesting period. As of March 31, 2015, there was no unrecognized compensation expenses related to nonvested stock option grants. | |||||||||||||||
Restricted Stock | |||||||||||||||
The Company from time-to-time grants shares of restricted stock to key employees and non-employee directors. These awards help align the interests of these employees and directors with the interests of the shareholders of the Company by providing economic value directly related to increases in the value of the Company's common stock. The value of the stock awarded is established as the fair market value of the stock at the time of the grant. The Company recognizes expense, equal to the total value of such awards, ratably over the vesting period of the stock grants. Restricted stock granted cliff vests over 24 to 36 months based on the term of the award. | |||||||||||||||
       Nonvested restricted stock activity for the three months ended March 31, 2015 is summarized in the following table. | |||||||||||||||
Restricted Stock | Shares | Weighted Average Grant Date Value | |||||||||||||
Nonvested at December 31, 2014 | 41,562 | $ | 21.39 | ||||||||||||
Granted | 16,649 | 12.92 | |||||||||||||
Vested | 15,536 | 19.51 | |||||||||||||
Forfeited | - | - | |||||||||||||
Nonvested at March 31, 2015 | 42,675 | $ | 18.77 | ||||||||||||
       As of March 31, 2015 and December 31, 2014, there was $594,000 and $327,000 in unrecognized compensation cost related to nonvested restricted stock granted under the 2008 Plan. The weighted average period over which this cost is expected to be recognized is 1.77 years.  The share based compensation expense for nonvested restricted stock was $93,000 and $70,000 during the first three months of 2015 and 2014, respectively. | |||||||||||||||
       Starting in 2010, the Company began offering its outside directors alternatives with respect to director compensation. The regular quarterly board retainer can be received in the form of either (i) $1,000 in cash or (ii) shares of immediately vested, but restricted stock with a market value of $1,563. Monthly meeting fees can also be received as $600 per meeting in cash or $750 in immediately vested, but restricted stock. For 2015, all 13 outside directors have elected to receive stock in lieu of cash for either all or part of their quarterly retainer or meeting fees. Only outside directors receive board fees. The Company issued 2,812 and 3,002 shares and recognized share based compensation expense of $155,000 and $96,000 during the first three months of 2015 and 2014, respectively. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Earnings Per Share | Note 11 – Earnings Per Share | ||||||||||||||||
       The following shows the weighted average number of shares used in computing earnings per common share and the effect on weighted average number of shares of potentially dilutive common stock for the three months ended March 31, 2015 and 2014. Potentially dilutive common stock had no effect on income available to common shareholders. | |||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Shares | Per | Shares | Per | ||||||||||||||
Share | Share | ||||||||||||||||
Amount | Amount | ||||||||||||||||
Basic | 8,723,633 | $ | 0.4 | 7,904,759 | $ | 0.44 | |||||||||||
Effect of dilutive securities - stock options | 9,046 | - | 12,842 | - | |||||||||||||
Diluted | 8,732,679 | $ | 0.4 | 7,917,601 | $ | 0.44 | |||||||||||
      Stock options on common stock which were not included in computing diluted earnings per share for the three month periods ended March 31, 2015 and 2014, because their effects were antidilutive, averaged 79,726 and 110,542 shares, respectively. | |||||||||||||||||
       Nonvested restricted stock is included in calculating basic earnings per share because the holder has voting rights and shares in non-forfeitable dividends during the vesting period. |
Employee_Benefit_Plans
Employee Benefit Plans | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Employee Benefit Plans [Abstract] | |||||||||
Employee Benefit Plans | Note 12 – Employee Benefit Plans | ||||||||
     The following information for the three months ended March 31, 2015 and 2014 pertains to the Company's non-contributory defined benefit pension plan which was frozen in 2009. If lump sum payments exceed the service cost plus interest cost, an additional settlement charge will apply (dollars in thousands): | |||||||||
Three Months Ended | |||||||||
Components of Net Periodic Benefit Cost | 31-Mar | ||||||||
2015 | 2014 | ||||||||
Service cost | $ | - | $ | - | |||||
Interest cost | 74 | 76 | |||||||
Expected return on plan assets | (115 | ) | (117 | ) | |||||
Recognized net actuarial loss | 154 | 18 | |||||||
Net periodic (benefit) cost | $ | 113 | $ | (23 | ) |
Segment_and_Related_Informatio
Segment and Related Information | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment and Related Information [Abstract] | |||||||||||||||||||||
Segment and Related Information | Note 13 – Segment and Related Information | ||||||||||||||||||||
       The Company has two reportable segments, (i) community banking and (ii) trust and investment services. | |||||||||||||||||||||
       Community banking involves making loans to and generating deposits from individuals and businesses. All assets and liabilities of the Company are allocated to community banking. Investment income from securities is also allocated to the community banking segment. Loan fee income, service charges from deposit accounts, and non-deposit fees such as automated teller machine fees and insurance commissions generate additional income for the community banking segment. | |||||||||||||||||||||
       Trust and investment services include estate planning, trust account administration, investment management, and retail brokerage. Investment management services include purchasing equity, fixed income, and mutual fund investments for customer accounts. The trust and investment services segment receives fees for investment and administrative services. | |||||||||||||||||||||
       Amounts shown in the "Other" column includes activities of the Company which are primarily debt service on trust preferred securities and corporate items. Intersegment eliminations primarily consist of the Company's investment in the Bank. | |||||||||||||||||||||
       Segment information as of and for the three months ended March 31, 2015 and 2014 (unaudited), is shown in the following table (dollars in thousands): | |||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||
Community | Trust and | Other | Intersegment | Total | |||||||||||||||||
Banking | Investment | Eliminations | |||||||||||||||||||
Services | |||||||||||||||||||||
Interest income | $ | $13,824 | $ | - | $ | 15 | $ | - | $ | 13,839 | |||||||||||
Interest expense | 1,277 | - | 184 | - | 1,461 | ||||||||||||||||
Noninterest income | 1,983 | 1,168 | 5 | - | 3,156 | ||||||||||||||||
Income (loss) before income taxes | 4,507 | 650 | (270 | ) | - | 4,887 | |||||||||||||||
Net income (loss) | 3,225 | 468 | (178 | ) | - | 3,515 | |||||||||||||||
Depreciation and amortization | 738 | 3 | - | - | 741 | ||||||||||||||||
Total assets | 1,537,939 | - | 224,313 | (222,154 | ) | 1,540,098 | |||||||||||||||
Goodwill | 44,210 | - | - | - | 44,210 | ||||||||||||||||
Capital expenditures | 348 | - | - | - | 348 | ||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Community | Trust and | Other | Intersegment | Total | |||||||||||||||||
Banking | Investment | Eliminations | |||||||||||||||||||
Services | |||||||||||||||||||||
Interest income | $ | 11,939 | $ | - | $ | 15 | $ | - | $ | 11,954 | |||||||||||
Interest expense | 1,311 | - | 184 | - | 1,495 | ||||||||||||||||
Noninterest income | 1,431 | 1,267 | 5 | - | 2,703 | ||||||||||||||||
Income (loss) before income taxes | 4,071 | 874 | (206 | ) | - | 4,739 | |||||||||||||||
Net income (loss) | 2,949 | 637 | (136 | ) | - | 3,450 | |||||||||||||||
Depreciation and amortization | 762 | 3 | - | - | 765 | ||||||||||||||||
Total assets | 1,297,729 | - | 198,011 | (195,938 | ) | 1,299,802 | |||||||||||||||
Goodwill | 39,043 | - | - | - | 39,043 | ||||||||||||||||
Capital expenditures | 119 | - | - | - | 119 | ||||||||||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | |||||||||||||||||||||
Fair Value of Financial Instruments | Note 14 – Fair Value of Financial Instruments | ||||||||||||||||||||
Determination of Fair Value | |||||||||||||||||||||
       The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the fair value measurements and disclosures topic of FASB ASC 820, "Fair Value Measurement and Disclosures", the fair value of an instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company's various instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. | |||||||||||||||||||||
       The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
       In accordance with this guidance, the Company groups its assets and liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. | |||||||||||||||||||||
Level 1 – | Valuation is based on quoted prices in active markets for identical assets and liabilities. | ||||||||||||||||||||
Level 2 – | Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market. | ||||||||||||||||||||
Level 3 – | Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market. | ||||||||||||||||||||
     The following describes the valuation techniques used by the Company to measure certain assets and liabilities recorded at fair value on a recurring basis in the financial statements: | |||||||||||||||||||||
Securities available for sale: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that consider observable market data (Level 2). If no observable market data is available, valuations are based upon third party model based techniques (Level 3). FRB and FHLB stocks are carried at cost since no ready market exists and there is no quoted market value. The Company is required to own stock in these entities as long as it is a member. Therefore, they have been excluded from the following table. | |||||||||||||||||||||
       The following table presents the balances of assets and liabilities measured at fair value on a recurring basis during the period (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements at March 31, 2015 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Mar | |||||||||||||||||||||
Description | 2015 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Federal agencies and GSEs | $ | 78,887 | $ | - | $ | 78,887 | $ | - | |||||||||||||
Mortgage-backed and CMOs | 64,849 | - | 64,849 | - | |||||||||||||||||
State and municipal | 198,200 | - | 198,200 | - | |||||||||||||||||
Corporate | 8,907 | - | 8,907 | - | |||||||||||||||||
Equity | 1,365 | - | - | 1,365 | |||||||||||||||||
Total | $ | 352,208 | $ | - | $ | 350,843 | $ | 1,365 | |||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Dec | |||||||||||||||||||||
Description | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Federal agencies and GSEs | $ | 82,106 | $ | 2,995 | $ | 79,111 | $ | - | |||||||||||||
Mortgage-backed and CMOs | 57,425 | - | 57,425 | - | |||||||||||||||||
State and municipal | 195,493 | 1,172 | 194,321 | - | |||||||||||||||||
Corporate | 8,379 | - | 8,379 | - | |||||||||||||||||
Equity | 1,313 | - | - | 1,313 | |||||||||||||||||
Total | $ | 344,716 | $ | 4,167 | $ | 339,236 | $ | 1,313 | |||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||||||||||||
   | Total Realized / Unrealized Gains | ||||||||||||||||||||
(Losses) Included in | |||||||||||||||||||||
Balances as of January 1, 2015 | Net Income | Other Comprehensive Income | Purchases, Sales, Issuances and Settlements, Net | Transfer In (Out) of Level 3 | Balances as of March 31, 2015 | ||||||||||||||||
Securities available for sale: | Â Â Â Â Â Â Â Â Â Â Â | ||||||||||||||||||||
             | |||||||||||||||||||||
Equity | $ | $1,313 | $ | - | $ | Â 52 | $ | - | $ | - | $ | Â $1,365 | |||||||||
       Certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. | |||||||||||||||||||||
       The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the financial statements: | |||||||||||||||||||||
Loans held for sale: Loans held for sale are carried at estimated fair value. These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). As such, the Company records any fair value adjustments on a nonrecurring basis. No nonrecurring fair value adjustments were recorded on loans held for sale during the three month period ended March 31, 2015 or the year ended December 31, 2014. Gains and losses on the sale of loans are recorded within income from mortgage banking on the Consolidated Statements of Income. | |||||||||||||||||||||
Impaired loans: Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreements will not be collected. In addition, the impairment of a loan may be measured using a present value of future cash flows analysis (Level 3). Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the Company's collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal, of one year or less, conducted by an independent, licensed appraiser using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the property is more than one year old and not solely based on observable market comparables or management determines the fair value of the collateral is further impaired below the appraised value, then a Level 3 valuation is considered to measure the fair value. The value of business equipment is based upon an outside appraisal, of one year or less, if deemed significant, or the net book value on the applicable business's financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Impaired loans allocated to the allowance for loan losses are measured at fair value on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. | |||||||||||||||||||||
Other real estate owned:Â Measurement for fair values for other real estate owned are the same as real estate collateral discussed with impaired loans. | |||||||||||||||||||||
     The following table summarizes the Company's assets that were measured at fair value on a nonrecurring basis at the dates indicated (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements at March 31, 2015 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
March 31, | |||||||||||||||||||||
Description | 2015 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Loans held for sale | $ | 1,936 | $ | - | $ | 1,936 | $ | - | |||||||||||||
Impaired loans, net of valuation allowance | 2,036 | - | - | 2,036 | |||||||||||||||||
Other real estate owned | 2,653 | - | - | 2,653 | |||||||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Dec | |||||||||||||||||||||
Description | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Loans held for sale | $ | 616 | $ | - | $ | 616 | $ | - | |||||||||||||
Impaired loans, net of valuation allowance | 1,705 | - | - | 1,705 | |||||||||||||||||
Other real estate owned | 2,119 | - | - | 2,119 | |||||||||||||||||
Quantitative Information About Level 3 Fair Value Measurements for March 31, 2015 | |||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input | Weighted | ||||||||||||||||||
Rate | |||||||||||||||||||||
Securities available for sale | Consideration of equity conversion options | Stock price in different rate environments | 37% | ||||||||||||||||||
Impaired loans | Discounted appraised value | Selling cost | 6% | ||||||||||||||||||
Discounted cash flows | Market rate for borrower (discount rate) | 6% | |||||||||||||||||||
Other real estate owned | Discounted appraised value | Selling cost | 6% | ||||||||||||||||||
Quantitative Information About Level 3 Fair Value Measurements for December 31, 2014 | |||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input | Weighted | ||||||||||||||||||
Rate | |||||||||||||||||||||
Securities available for sale | Consideration of equity conversion options | Stock price in different rate environments | 0.37 | ||||||||||||||||||
Impaired loans | Discounted appraised value | Selling cost | 0.06 | ||||||||||||||||||
Discounted cash flows | Market rate for borrower (discount rate) | 0.06 | |||||||||||||||||||
Other real estate owned | Discounted appraised value | Selling cost | 0.06 | ||||||||||||||||||
       The carrying values and estimated fair values of the Company's financial instruments at March 31, 2015 are as follows (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements at March 31, 2015 Using | |||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Fair Value | ||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Balance | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 112,865 | $ | 112,865 | $ | - | $ | - | $ | 112,865 | |||||||||||
Securities available for sale | 352,208 | - | 350,843 | 1,365 | 352,208 | ||||||||||||||||
Restricted stock | 5,231 | - | 5,231 | - | 5,231 | ||||||||||||||||
Loans held for sale | 1,936 | - | 1,936 | - | 1,936 | ||||||||||||||||
Loans, net of allowance | 953,058 | - | - | 960,088 | 960,088 | ||||||||||||||||
Bank owned life insurance | 17,261 | - | 17,261 | - | 17,261 | ||||||||||||||||
Accrued interest receivable | 4,734 | - | 4,734 | - | 4,734 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | $ | 1,242,675 | $ | - | $ | 823,349 | $ | 412,480 | $ | 1,235,829 | |||||||||||
Repurchase agreements | 53,664 | - | 53,664 | - | 53,664 | ||||||||||||||||
Other borrowings | 9,941 | - | - | 10,473 | 10,473 | ||||||||||||||||
Trust preferred capital notes | 27,546 | - | - | 22,751 | 22,751 | ||||||||||||||||
Accrued interest payable | 638 | - | 638 | - | 638 | ||||||||||||||||
       The carrying values and estimated fair values of the Company's financial instruments at December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Fair Value | ||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Balance | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 67,303 | $ | 67,303 | $ | - | $ | - | $ | 67,303 | |||||||||||
Securities available for sale | 344,716 | 4,167 | 339,236 | 1,313 | 344,716 | ||||||||||||||||
Restricted stock | 4,534 | - | 4,534 | - | 4,534 | ||||||||||||||||
Loans held for sale | 616 | - | 616 | - | 616 | ||||||||||||||||
Loans, net of allowance | 828,498 | - | - | 832,708 | 832,708 | ||||||||||||||||
Bank owned life insurance | 15,193 | - | 15,193 | - | 15,193 | ||||||||||||||||
Accrued interest receivable | 4,534 | - | 4,534 | - | 4,534 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | $ | 1,075,837 | $ | - | $ | 712,019 | $ | 365,310 | $ | 1,077,329 | |||||||||||
Repurchase agreements | 53,480 | - | 53,480 | - | 53,480 | ||||||||||||||||
Other borrowings | 9,935 | - | - | 10,432 | 10,432 | ||||||||||||||||
Trust preferred capital notes | 27,521 | - | - | 22,009 | 22,009 | ||||||||||||||||
Accrued interest payable | 587 | - | 587 | - | 587 | ||||||||||||||||
       The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments: | |||||||||||||||||||||
Cash and cash equivalents. The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities. Fair values are based on quoted market prices or dealer quotes. | |||||||||||||||||||||
Loans held for sale. The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Loans. For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for fixed-rate loans are estimated based upon discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |||||||||||||||||||||
Bank owned life insurance. Bank owned life insurance represents insurance policies on officers, directors, and past directors of the Company. The cash values of the policies are estimates using information provided by insurance carriers. These policies are carried at their cash surrender value, which approximates the fair value. | |||||||||||||||||||||
Accrued interest receivable. The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Deposits. The fair value of demand deposits, savings deposits, and money market deposits equals the carrying value. The fair value of fixed-rate certificates of deposit is estimated by discounting the future cash flows using the current rates at which similar deposit instruments would be offered to depositors for the same remaining maturities. | |||||||||||||||||||||
Repurchase agreements. The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Other borrowings. The fair values of other borrowings are estimated using discounted cash flow analyses based on the interest rates for similar types of borrowing arrangements. | |||||||||||||||||||||
Trust preferred capital notes. Fair value is calculated by discounting the future cash flows using the estimated current interest rates at which similar securities would be issued. | |||||||||||||||||||||
Accrued interest payable. The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Off-balance sheet instruments. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. At March 31, 2015 and December 31, 2014, the fair value of off-balance sheet instruments was deemed immaterial, and therefore was not included in the previous table. | |||||||||||||||||||||
       The Company assumes interest rate risk (the risk that interest rates will change) in its normal operations. As a result, the fair values of the Company's financial instruments will change when interest rates change and that change may be either favorable or unfavorable to the Company. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||
Supplemental Cash Flow Information | Note 15 – Supplemental Cash Flow Information | ||||||||
Three Months Ended | |||||||||
31-Mar | |||||||||
2015 | 2014 | ||||||||
Supplemental Schedule of Cash and Cash Equivalents: | |||||||||
Cash and due from banks | $ | 23,995 | $ | 25,880 | |||||
Interest-bearing deposits in other banks | 75,254 | 45,466 | |||||||
Federal funds sold | 13,616 | - | |||||||
- | - | ||||||||
Cash and Cash Equivalents | $ | 112,865 | $ | 71,346 | |||||
Supplemental Disclosure of Cash Flow Information: | |||||||||
Cash paid for: | |||||||||
Interest on deposits and borrowed funds | $ | 1,410 | $ | 1,538 | |||||
Income taxes | - | - | |||||||
Noncash investing and financing activities: | - | - | |||||||
Transfer of loans to other real estate owned | (677 | ) | 18 | ||||||
Unrealized gain on securities available for sale | 925 | 1,770 | |||||||
Non-cash transactions related to acquisitions: | |||||||||
Assets acquired: | |||||||||
Investment securities | 18,800 | - | |||||||
Restricted stock | 738 | - | |||||||
Loans | 114,902 | - | |||||||
Premises and equipment | 1,475 | - | |||||||
Deferred income taxes | 2,683 | - | |||||||
Core deposit intangible | 1,839 | - | |||||||
Other real estate owned | 168 | - | |||||||
Bank owned life insurance | 1,955 | - | |||||||
Other assets | 917 | - | |||||||
Liabilities assumed: | |||||||||
Deposits | 137,323 | - | |||||||
Other liabilities | 3,076 | - | |||||||
Consideration: | |||||||||
Issuance of common stock | 20,483 | - |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Accumulated Other Comprehensive Income [Abstract] | |||||||||||||
Accumulated Other Comprehensive Income | Note 16 – Accumulated Other Comprehensive Income | ||||||||||||
     Changes in each component of accumulated other comprehensive income ("AOCI") for the three months ended March 31, 2015 and 2014 (unaudited) were as follows (dollars in thousands): | |||||||||||||
For the Three Month Period | Net Unrealized Gains (Losses) on Securities | Adjustments Related to Pension Benefits | Accumulated Other Comprehensive Income | ||||||||||
31-Dec-13 | $ | 3,578 | $ | (1,058 | ) | $ | 2,520 | ||||||
Net unrealized gains on securities available for sale, net of tax, $633 | 1,176 | - | 1,176 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(14) | (25 | ) | - | (25 | ) | ||||||||
Balance at March 31, 2014 | $ | 4,729 | $ | (1,058 | ) | $ | 3,671 | ||||||
Balance at December 31, 2014 | $ | 5,845 | $ | (2,181 | ) | $ | 3,664 | ||||||
Net unrealized gains on securities available for sale, net of tax, $432 | 802 | - | 802 | ||||||||||
   Reclassification adjustment for gains on securities, net of tax, $(109) | (201 | ) | - | (201 | ) | ||||||||
Balance at March 31, 2015 | $ | 6,446 | $ | (2,181 | ) | $ | 4,265 | ||||||
Reclassifications Out of Accumulated Other Comprehensive Income | |||||||||||||
For the three month periods ending March 31, 2015 and 2014 | |||||||||||||
(dollars in thousands) | |||||||||||||
For the Three Month Period Ended March 31, 2015 | Amount | Affected Line Item in | |||||||||||
Reclassified | the Statement of Where | ||||||||||||
Details about AOCI Components | from AOCI | Net Income is Presented | |||||||||||
   | |||||||||||||
Available for sale securities: | Â Â | ||||||||||||
Realized gain on sale of securities | $ | 310 | Securities gains, net | ||||||||||
(109 | ) | Income tax expense | |||||||||||
Total reclassifications | $ | 201 | Net of tax | ||||||||||
For the Three Month Period Ended March 31, 2014 | Amount | Affected Line Item in | |||||||||||
Reclassified | the Statement of Where | ||||||||||||
Details about AOCI Components | from AOCI | Net Income is Presented | |||||||||||
   | |||||||||||||
Available for sale securities: | Â Â | ||||||||||||
Realized gain on sale of securities | $ | 39 | Securities gains, net | ||||||||||
(14 | ) | Income tax expense | |||||||||||
Total reclassifications | $ | 25 | Net of tax |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 17 – Recent Accounting Pronouncements |
      | |
       In January 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-01, "Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force)." The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In January 2014, the FASB issued ASU No. 2014-04, "Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)." The amendments in this ASU clarify that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers: Topic 606." This ASU applies to any entity using. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The guidance supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition", most industry-specific guidance, and some cost guidance included in Subtopic 605-35, "Revenue Recognition—Construction-Type and Production-Type Contracts." The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To be in alignment with the core principle, an entity must apply a five step process including: identification of the contract(s) with a customer, identification of performance obligations in the contract(s), determination of the transaction price, allocation of the transaction price to the performance obligations, and recognition of revenue when (or as) the entity satisfies a performance obligation. Additionally, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer have also been amended to be consistent with the guidance on recognition and measurement. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. In April 2015, the FASB voted in favor of a one year deferral of the effective date of this amendment. An exposure draft is expected with a 30 day comment period. The Company is currently assessing the impact that ASU 2014-09 will have on its consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-10, "Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation." The amendments in this ASU remove all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915, "Development Stage Entities," from the FASB Accounting Standards Codification. In addition, this ASU adds an example disclosure and removes an exception provided to development stage entities in Topic 810, "Consolidation," for determining whether an entity is a variable interest entity. The presentation and disclosure requirements in Topic 915 will no longer be required for the first annual period beginning after December 15, 2014. The revised consolidation standards are effective for annual periods beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-10 to have a material impact on the Company's consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-11, "Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." This ASU aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. The new guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement. The amendments in the ASU also require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. Additional disclosures will be required for the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The amendments in this ASU are effective for the first interim or annual period beginning after December 15, 2014; however, the disclosure for transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Early adoption is not permitted. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In August 2014, the FASB issued ASU No. 2014-14, "Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure." The amendments in this ASU apply to creditors that hold government-guaranteed mortgage loans and are intended to eliminate the diversity in practice related to the classification of these guaranteed loans upon foreclosure. The new guidance stipulates that a mortgage loan be derecognized and a separate other receivable be recognized upon foreclosure if (1) the loan has a government guarantee that is not separable from the loan prior to foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the other receivable should be measured on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. Entities may adopt the amendments on a prospective basis or modified retrospective basis as of the beginning of the annual period of adoption; however, the entity must apply the same method of transition as elected under ASU 2014-04. Early adoption is permitted provided the entity has already adopted ASU 2014-04. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern." This update is intended to provide guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. Management is required under the new guidance to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued when preparing financial statements for each interim and annual reporting period. If conditions or events are identified, the ASU specifies the process that must be followed by management and also clarifies the timing and content of going concern footnote disclosures in order to reduce diversity in practice. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of ASU 2014-15 to have a material impact on its consolidated financial statements. | |
In November 2014, the FASB issued ASU No. 2014-16, "Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity." The amendments in this ASU do not change the current criteria in GAAP for determining when separation of certain embedded derivative features in a hybrid financial instrument is required. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Specifically, the amendments clarify that an entity should consider all relevant terms and features, including the embedded derivative feature being evaluated for bifurcation, in evaluating the nature of the host contract. Furthermore, the amendments clarify that no single term or feature would necessarily determine the economic characteristics and risks of the host contract. Rather, the nature of the host contract depends upon the economic characteristics and risks of the entire hybrid financial instrument. The amendments in this ASU also clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features (i.e., the relative strength of the debt-like or equity-like terms and features given the facts and circumstances) when considering how to weight those terms and features. The amendments in this ASU are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption, including adoption in an interim period, is permitted. The Company does not expect the adoption of ASU 2014-16 to have a material impact on its consolidated financial statements. | |
In January 2015, the FASB issued ASU No. 2015-01, "Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items." The amendments in this ASU eliminate from GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings per share data applicable to the extraordinary item. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU 2015-01 to have a material impact on its consolidated financial statements. | |
In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis." The amendments in this ASU are intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). In addition to reducing the number of consolidation models from four to two, the new standard simplifies the FASB ASC and improves current GAAP by placing more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. The amendments in this ASU are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. ASU 2015-02 may be applied retrospectively in previously issued financial statements for one or more years with a cumulative-effect adjustment to retained earnings as of the beginning of the first year restated. The Company does not expect the adoption of ASU 2015-02 to have a material impact on its consolidated financial statements. | |
In April 2015, the FASB issued ASU No. 2015-03, "Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The amendments in this ASU are intended to simplify the presentation of debt issuance costs. These amendments require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments in this ASU are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU 2015-03 to have a material impact on its consolidated financial statements. | |
In April 2015, the FASB issued ASU No. 2015-05, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement." The amendments in this ASU provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The amendments in this ASU are effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. An entity can elect to adopt the amendments either: (1) prospectively to all arrangements entered into or materially modified after the effective date, or (2) retrospectively. The Company is currently assessing the impact that ASU 2015-05 will have on its consolidated financial statements. | |
Merger_with_MainStreet_Tables
Merger with MainStreet (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Merger with MainStreet[Abstract] | |||||||||
Schedule of consideration paid, and the fair value of identifiable assets acquired and liabilities assumed | |||||||||
Consideration Paid: | |||||||||
Common shares issued (825,586) | $ | 20,483 | |||||||
Cash paid to shareholders | 5,935 | ||||||||
Value of consideration | 26,418 | ||||||||
Assets acquired: | |||||||||
Cash and cash equivalents | 18,173 | ||||||||
Investment securities | 18,800 | ||||||||
Restricted stock | 738 | ||||||||
Loans | 114,902 | ||||||||
Premises and equipment | 1,475 | ||||||||
Deferred income taxes | 2,683 | ||||||||
Core deposit intangible | 1,839 | ||||||||
Other real estate owned | 168 | ||||||||
Banked owned life insurance | 1,955 | ||||||||
Other assets | 917 | ||||||||
Total assets | 161,650 | ||||||||
Liabilities assumed: | |||||||||
Deposits | 137,323 | ||||||||
Other liabilities | 3,076 | ||||||||
Total liabilities | 140,399 | ||||||||
Net assets acquired | 21,251 | ||||||||
Goodwill resulting from merger with MainStreet | $ | 5,167 | |||||||
       In many cases, the fair values of assets acquired and liabilities assumed were determined by estimating the cash flows expected to result from those assets and liabilities and discounting them at appropriate market rates. The most significant category of assets for which this procedure was used was that of acquired loans. The Company acquired the $122,300,000 loan portfolio at a fair value discount of $7,400,000. The estimated fair value of the performing portion of the portfolio was $105,800,000. The excess of expected cash flows above the fair value of the performing portion of loans will be accreted to interest income over the remaining lives of the loans in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 310-20. | |||||||||
Schedule of acquired loans that are accounted for in accordance with FASB ASC 310-30 | Contractually required principal and interest at acquisition | $ | 13,504 | ||||||
Contractual cash flows not expected to be collected (nonaccretable difference) | 3,298 | ||||||||
Expected cash flows at acquisition | 10,206 | ||||||||
Interest component of expected cash flows (accretable yield) | 1,208 | ||||||||
Fair value of acquired loans accounted for under FASB ASC 310-30 | $ | 8,998 | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | Pro forma | ||||||||
Three Months Ended | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net interest income | $ | 11,980 | $ | 12,420 | |||||
Provision for loan loss | (600 | ) | - | ||||||
Non-interest income | 3,156 | 2,914 | |||||||
Non-interest expense and income taxes | (11,134 | ) | (11,439 | ) | |||||
Net income | $ | 3,402 | $ | 3,895 |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||
Schedule of amortized cost and estimated fair value of investments in debt securities | 31-Mar-15 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
Federal agencies and GSEs | $ | 78,383 | $ | 513 | $ | 9 | $ | 78,887 | |||||||||||||||||
Mortgage-backed and CMOs | 63,514 | 1,400 | 65 | 64,849 | |||||||||||||||||||||
State and municipal | 190,539 | 7,717 | 56 | 198,200 | |||||||||||||||||||||
Corporate | 8,854 | 66 | 13 | 8,907 | |||||||||||||||||||||
Equity securities | 1,000 | 365 | - | 1,365 | |||||||||||||||||||||
Total securities available for sale | $ | 342,290 | $ | 10,061 | $ | 143 | $ | 352,208 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||||
Federal agencies and GSEs | $ | 81,958 | $ | 252 | $ | 104 | $ | 82,106 | |||||||||||||||||
Mortgage-backed and CMOs | 56,289 | 1,248 | 112 | 57,425 | |||||||||||||||||||||
State and municipal | 188,060 | 7,523 | 90 | 195,493 | |||||||||||||||||||||
Corporate | 8,416 | 16 | 53 | 8,379 | |||||||||||||||||||||
Equity securities | 1,000 | 313 | - | 1,313 | |||||||||||||||||||||
Total securities available for sale | $ | 335,723 | $ | 9,352 | $ | 359 | $ | 344,716 | |||||||||||||||||
Cost of restricted stock | Due to restrictions placed upon the Bank's common stock investment in the Federal Reserve Bank of Richmond ("FRB") and Federal Home Loan Bank of Atlanta ("FHLB"), these securities have been classified as restricted equity securities and carried at cost. The restricted securities are not subject to the investment security classification and are included as a separate line item on the Company's balance sheet. The FRB requires the Bank to maintain stock with a par value equal to 6.0% of its common stock and paid-in surplus. One-half of this amount is paid to the FRB and the remaining half is subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. The FHLB requires the Bank to maintain stock in an amount equal to a specific percentage of the Bank's total assets and 4.5% of outstanding borrowings. The Bank also owns common stock in CBB Financial Corporation and Pacific Coast Bankers Bankshares, which both provide services to community banks. The cost of restricted stock at March 31, 2015 and December 31, 2014 were as follows (dollars in thousands): | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
FRB stock | $ | 3,177 | $ | 2,742 | |||||||||||||||||||||
FHLB stock | 1,802 | 1,625 | |||||||||||||||||||||||
CBB Financial Corporation stock | 150 | 101 | |||||||||||||||||||||||
 Pacific Coast Bankers Bankshares stock | 102 | - | |||||||||||||||||||||||
   Total restricted stock | $ | 5,231 | $ | 4,468 | |||||||||||||||||||||
Schedule of available for sale securities, continuous unrealized loss position | Total | Less than 12 Months | 12 Months or More | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Federal agencies and GSEs | $ | 7,589 | $ | 9 | $ | 5,492 | $ | 6 | $ | 2,097 | $ | 3 | |||||||||||||
Mortgage-backed and CMOs | 7,335 | 65 | 5,095 | 39 | 2,240 | 26 | |||||||||||||||||||
State and municipal | 13,213 | 56 | 13,213 | 56 | - | - | |||||||||||||||||||
Corporate | 2,778 | 13 | 1,162 | 1 | 1,616 | 12 | |||||||||||||||||||
Total | $ | 30,915 | $ | 143 | $ | 24,962 | $ | 102 | $ | 5,953 | $ | 41 | |||||||||||||
Total | Less than 12 Months | 12 Months or More | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Federal agencies and GSEs | $ | 28,979 | $ | 104 | $ | 21,449 | $ | 35 | $ | 7,530 | $ | 69 | |||||||||||||
Mortgage-backed and CMOs | 7,182 | 112 | 1,171 | 13 | 6,011 | 99 | |||||||||||||||||||
State and municipal | 20,542 | 90 | 15,836 | 60 | 4,706 | 30 | |||||||||||||||||||
Corporate | 5,032 | 53 | 2,273 | 4 | 2,759 | 49 | |||||||||||||||||||
Total | $ | 61,735 | $ | 359 | $ | 40,729 | $ | 112 | $ | 21,006 | $ | 247 |
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Schedule of loans, excluding loans held for sale | 31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Commercial | $ | 146,280 | $ | 126,981 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 68,069 | 50,863 | |||||||||||||||||||||||||||
Commercial real estate | 436,562 | 391,472 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||
Residential | 211,261 | 175,293 | |||||||||||||||||||||||||||
Home equity | 97,811 | 91,075 | |||||||||||||||||||||||||||
Consumer | 5,919 | 5,241 | |||||||||||||||||||||||||||
Total loans | $ | 965,902 | $ | 840,925 | |||||||||||||||||||||||||
Schedule stating outstanding principal balance and the carrying amount of loan acquired | Acquired Loans | ||||||||||||||||||||||||||||
Interest income, including accretion, on loans acquired from MidCarolina Financial Corporation ("MidCarolina") and MainStreet for the three months ended March 31, 2015 was approximately $4,675,000. This included $1,070,000 in accretion income. The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheets at March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Outstanding principal balance | $ | 189,911 | $ | 84,892 | |||||||||||||||||||||||||
Carrying amount | 177,105 | 78,111 | |||||||||||||||||||||||||||
The outstanding principal balance and related carrying amount of acquired impaired loans, for which the Company applies FASB ASC 310-30, to account for interest earned, at March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||||||
Outstanding principal balance | $ | 27,843 | $ | 18,357 | |||||||||||||||||||||||||
Carrying amount | 21,758 | 14,933 | |||||||||||||||||||||||||||
Schedule of changes in the accretable discount on acquired loans | Accretable Yield | ||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 1,440 | |||||||||||||||||||||||||||
Additions from merger with MainStreet | 1,208 | ||||||||||||||||||||||||||||
Accretion | (268 | ) | |||||||||||||||||||||||||||
Reclassification from nonaccretable difference | 2,851 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | $ | 5,231 | |||||||||||||||||||||||||||
Schedule of analysis by portfolio segment of the entity's past due loans | |||||||||||||||||||||||||||||
30- 59 Days | 60-89 Days | 90 Days + | Non- | Total | Current | Total | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Accrual | Past | Loans | ||||||||||||||||||||||||
and Still | Loans | Due | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial | $ | 51 | $ | - | $ | - | $ | 157 | $ | 208 | $ | 146,072 | $ | 146,280 | |||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 108 | - | - | 572 | 680 | 67,389 | 68,069 | ||||||||||||||||||||||
Commercial real estate | 341 | - | - | 3,242 | 3,583 | 432,979 | 436,562 | ||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 776 | 177 | - | 678 | 1,631 | 209,630 | 211,261 | ||||||||||||||||||||||
Home equity | 98 | 424 | - | 432 | 954 | 96,857 | 97,811 | ||||||||||||||||||||||
Consumer | 2 | 1 | - | 42 | 45 | 5,874 | 5,919 | ||||||||||||||||||||||
Total | $ | 1,376 | $ | 602 | $ | - | $ | 5,123 | $ | 7,101 | $ | 958,801 | $ | 965,902 | |||||||||||||||
       The following table shows an analysis by portfolio segment of the Company's past due loans at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
30- 59 Days | 60-89 Days | 90 Days + | Non- | Total | Current | Total | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Accrual | Past | Loans | ||||||||||||||||||||||||
and Still | Loans | Due | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial | $ | 114 | $ | 165 | $ | - | $ | - | $ | 279 | $ | 126,702 | $ | 126,981 | |||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 44 | 269 | - | 279 | 592 | 50,271 | 50,863 | ||||||||||||||||||||||
Commercial real estate | 257 | - | - | 3,010 | 3,267 | 388,205 | 391,472 | ||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 390 | 325 | - | 560 | 1,275 | 174,018 | 175,293 | ||||||||||||||||||||||
Home equity | 223 | 60 | - | 262 | 545 | 90,530 | 91,075 | ||||||||||||||||||||||
Consumer | 1 | 42 | - | 1 | 44 | 5,197 | 5,241 | ||||||||||||||||||||||
Total | $ | 1,029 | $ | 861 | $ | - | $ | 4,112 | $ | 6,002 | $ | 834,923 | $ | 840,925 | |||||||||||||||
Schedule of impaired loan balances by portfolio segment | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 157 | $ | 157 | $ | - | $ | 160 | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 1,111 | 1,161 | - | 1,115 | 8 | ||||||||||||||||||||||||
Commercial real estate | 414 | 475 | - | 420 | - | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 658 | 658 | - | 642 | 4 | ||||||||||||||||||||||||
Home equity | 758 | 759 | - | 553 | 4 | ||||||||||||||||||||||||
Consumer | 43 | 42 | - | 43 | - | ||||||||||||||||||||||||
$ | 3,141 | $ | 3,252 | $ | - | $ | 2,933 | $ | 16 | ||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 6 | 6 | - | 6 | - | ||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | - | - | - | - | - | ||||||||||||||||||||||||
Commercial real estate | 1,941 | 2,011 | 104 | 1,946 | 3 | ||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Residential | 183 | 183 | 12 | 183 | 2 | ||||||||||||||||||||||||
Home equity | 8 | 8 | - | 8 | - | ||||||||||||||||||||||||
Consumer | 14 | 14 | - | 15 | - | ||||||||||||||||||||||||
$ | 2,152 | $ | 2,222 | $ | 116 | $ | 2,158 | $ | 5 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial | $ | 163 | $ | 163 | $ | - | $ | 166 | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 1,111 | 1,161 | - | 1,115 | 8 | ||||||||||||||||||||||||
Commercial real estate | 2,355 | 2,486 | 104 | 2,366 | 3 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 841 | 841 | 12 | 825 | 6 | ||||||||||||||||||||||||
Home equity | 766 | 767 | - | 561 | 4 | ||||||||||||||||||||||||
Consumer | 57 | 56 | - | 58 | - | ||||||||||||||||||||||||
$ | 5,293 | $ | 5,474 | $ | 116 | $ | 5,091 | $ | 21 | ||||||||||||||||||||
       The following table presents the Company's impaired loan balances by portfolio segment, excluding loans acquired with deteriorated credit quality, at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 7 | $ | 7 | $ | - | $ | 12 | $ | 1 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 280 | 325 | - | 448 | - | ||||||||||||||||||||||||
Commercial real estate | 1,520 | 1,797 | - | 1,844 | - | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 603 | 603 | - | 723 | 8 | ||||||||||||||||||||||||
Home equity | 256 | 256 | - | 316 | - | ||||||||||||||||||||||||
   Consumer | 1 | 1 | - | 2 | - | ||||||||||||||||||||||||
$ | 2,667 | $ | 2,989 | $ | - | $ | 3,345 | $ | 9 | ||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 576 | 577 | 12 | 593 | 34 | ||||||||||||||||||||||||
Commercial real estate | 1,275 | 1,422 | 149 | 1,297 | 8 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 4 | 4 | 1 | 4 | - | ||||||||||||||||||||||||
Home equity | - | - | - | - | - | ||||||||||||||||||||||||
   Consumer | 15 | 15 | 3 | 17 | 1 | ||||||||||||||||||||||||
$ | 1,870 | $ | 2,018 | $ | 165 | $ | 1,911 | $ | 43 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial | $ | 7 | $ | 7 | $ | - | $ | 12 | $ | 1 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Construction and land development | 856 | 902 | 12 | 1,041 | 34 | ||||||||||||||||||||||||
Commercial real estate | 2,795 | 3,219 | 149 | 3,141 | 8 | ||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||
Residential | 607 | 607 | 1 | 727 | 8 | ||||||||||||||||||||||||
Home equity | 256 | 256 | - | 316 | - | ||||||||||||||||||||||||
   Consumer | 16 | 16 | 3 | 19 | 1 | ||||||||||||||||||||||||
$ | 4,537 | $ | 5,007 | $ | 165 | $ | 5,256 | $ | 52 | ||||||||||||||||||||
Schedule of detail of loans modified as troubled debt restructurings | The following table shows the detail of loans modified as troubled debt restructurings ("TDRs")Â during the three months ended March 31, 2015Â included in the impaired loan balances. There were no loans modified as TDRs during the three months ended March 31, 2014 (dollars in thousands): | ||||||||||||||||||||||||||||
Loans Modified as a TDR for the | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
 Loan Type | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | ||||||||||||||||||||||||
Commercial real estate | 1 | 8 | 8 | ||||||||||||||||||||||||||
   Construction and land development | - | - | - | ||||||||||||||||||||||||||
   Home Equity | 2 | 341 | 341 | ||||||||||||||||||||||||||
   Residential real estate | - | - | - | ||||||||||||||||||||||||||
Consumer | - | - | - | ||||||||||||||||||||||||||
Total | 3 | $ | 349 | $ | 349 | ||||||||||||||||||||||||
      During the three months ended March 31, 2015 and 2014, the Company had no loans that subsequently defaulted within twelve months of modification as a TDR. The Company defines defaults as one or more payments that occur more than 90 days past the due date, charge-off or foreclosure subsequent to modification. | |||||||||||||||||||||||||||||
Schedule of commercial loan portfolio broken down by internal risk grading | Commercial and Consumer Credit Exposure | ||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | |||||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Construction | Other | ||||||||||||||||||||||||||||
Pass | $ | 143,138 | $ | 60,150 | $ | 417,148 | $ | 191,888 | $ | 94,742 | |||||||||||||||||||
Special Mention | 2,727 | 3,621 | 11,153 | 13,990 | 2,015 | ||||||||||||||||||||||||
Substandard | 415 | 4,298 | 8,261 | 5,383 | 1,054 | ||||||||||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||||||||
Total | $ | 146,280 | $ | 68,069 | $ | 436,562 | $ | 211,261 | $ | 97,811 | |||||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Performing | $ | 5,877 | |||||||||||||||||||||||||||
Nonperforming | 42 | ||||||||||||||||||||||||||||
Total | $ | 5,919 | |||||||||||||||||||||||||||
     The following table shows the Company's loan portfolio broken down by internal risk grading as of December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Commercial and Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Residential | Home | |||||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Construction | Other | ||||||||||||||||||||||||||||
Pass | $ | 125,405 | $ | 45,534 | $ | 382,607 | $ | 165,367 | $ | 88,646 | |||||||||||||||||||
Special Mention | 1,569 | 569 | 4,889 | 6,709 | 1,801 | ||||||||||||||||||||||||
Substandard | 7 | 4,760 | 3,976 | 3,217 | 628 | ||||||||||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||||||||
Total | $ | 126,981 | $ | 50,863 | $ | 391,472 | $ | 175,293 | $ | 91,075 | |||||||||||||||||||
Consumer Credit Exposure | |||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Performing | $ | 5,240 | |||||||||||||||||||||||||||
Nonperforming | 1 | ||||||||||||||||||||||||||||
Total | $ | 5,241 | |||||||||||||||||||||||||||
       Loans classified in the Pass category typically are fundamentally sound and risk factors are reasonable and acceptable. |
Allowance_for_Loan_Losses_and_1
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments [Abstract] | |||||||||||||||||||||||||
Schedule of changes in the allowance for loan losses | Three Months Ended | Year Ended | Three Months Ended | ||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | |||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance, beginning of period | $ | 12,427 | $ | 12,600 | $ | 12,600 | |||||||||||||||||||
Provision for loan losses | 600 | 400 | - | ||||||||||||||||||||||
Charge-offs | (309 | ) | (964 | ) | (73 | ) | |||||||||||||||||||
Recoveries | 126 | 391 | 87 | ||||||||||||||||||||||
Balance, end of period | $ | 12,844 | $ | 12,427 | $ | 12,614 | |||||||||||||||||||
Reserve for Unfunded Lending Commitments | |||||||||||||||||||||||||
Balance, beginning of period | $ | 163 | $ | 210 | $ | 210 | |||||||||||||||||||
Provision for (recovery of) loan losses | 6 | (47 | ) | 7 | |||||||||||||||||||||
Charge-offs | - | - | - | ||||||||||||||||||||||
Balance, end of period | $ | 169 | $ | 163 | $ | 217 | |||||||||||||||||||
     The following table presents the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at March 31, 2015 (dollars in thousands): | |||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Unallocated | Total | ||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Charge-offs | - | (267 | ) | (7 | (35 | - | (309 | ||||||||||||||||||
) | ) | ) | |||||||||||||||||||||||
Recoveries | 9 | 57 | 27 | 33 | - | 126 | |||||||||||||||||||
Provision for loan losses | 1 | 434 | 156 | (2 | 11 | 600 | |||||||||||||||||||
) | |||||||||||||||||||||||||
Balance as of March 31, 2015 | $ | 1,828 | $ | 7,038 | $ | 3,891 | $ | 76 | $ | 11 | $ | 12,844 | |||||||||||||
Balance as of March 31, 2015: | |||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 104 | $ | 12 | $ | - | $ | - | $ | 116 | |||||||||||||
Collectively evaluated for impairment | 1,826 | 6,496 | 3,397 | 76 | 11 | 11,806 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 2 | 438 | 482 | - | - | 922 | |||||||||||||||||||
Total | $ | 1,828 | $ | 7,038 | $ | 3,891 | $ | 76 | $ | 11 | $ | 12,844 | |||||||||||||
Loans | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 163 | $ | 3,466 | $ | 1,607 | $ | 57 | $ | - | $ | 5,293 | |||||||||||||
Collectively evaluated for impairment | 145,874 | 488,377 | 299,025 | 5,575 | - | 938,851 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 243 | 12,788 | 8,440 | 287 | - | 21,758 | |||||||||||||||||||
Total | $ | 146,280 | $ | 504,631 | $ | 309,072 | $ | 5,919 | $ | - | $ | 965,902 | |||||||||||||
       The following table presents the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Unallocated | Total | ||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,810 | $ | 6,819 | $ | 3,690 | $ | 99 | $ | 182 | $ | 12,600 | |||||||||||||
Charge-offs | (101 | ) | (510 | ) | (258 | ) | (95 | ) | - | (964 | ) | ||||||||||||||
Recoveries | 51 | 66 | 191 | 83 | - | 391 | |||||||||||||||||||
Provision for loan losses | 58 | 439 | 92 | (7 | ) | (182 | ) | 400 | |||||||||||||||||
Balance as of December 31, 2014 | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Balance as of December 31, 2014: | |||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 161 | $ | 1 | $ | 3 | $ | - | $ | 165 | |||||||||||||
Collectively evaluated for impairment | 1,815 | 6,400 | 3,424 | 77 | - | 11,716 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 3 | 253 | 290 | - | - | 546 | |||||||||||||||||||
Total | $ | 1,818 | $ | 6,814 | $ | 3,715 | $ | 80 | $ | - | $ | 12,427 | |||||||||||||
Loans | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7 | $ | 3,651 | $ | 863 | $ | 16 | $ | - | $ | 4,537 | |||||||||||||
Collectively evaluated for impairment | 126,774 | 429,660 | 259,796 | 5,225 | - | 821,455 | |||||||||||||||||||
Loans acquired with deteriorated credit quality | 200 | 9,024 | 5,709 | - | - | 14,933 | |||||||||||||||||||
Total | $ | 126,981 | $ | 442,335 | $ | 266,368 | $ | 5,241 | $ | - | $ | 840,925 | |||||||||||||
       The allowance for loan losses is allocated to loan segments based upon historical loss factors, risk grades on individual loans, portfolio analyses of smaller balance, homogenous loans, and qualitative factors. Qualitative factors include trends in delinquencies, nonaccrual loans, and loss rates; trends in volume and terms of loans, effects of changes in risk selection, underwriting standards, and lending policies; experience of lending officers and other lending staff; national, regional, and local economic trends and conditions; legal, regulatory and collateral factors; and concentrations of credit. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Goodwill and Other Intangible Assets [Abstract] | |||||||||
Schedule of changes in carrying amount of goodwill and intangibles | Goodwill | Intangibles | |||||||
Balance as of December 31, 2014 | $ | 39,043 | $ | 2,045 | |||||
Additions | 5,167 | 1,839 | |||||||
Amortization | - | (301 | ) | ||||||
Impairment | - | - | |||||||
Balance as of March 31, 2015 | $ | 44,210 | $ | 3,583 |
Shortterm_Borrowings_Tables
Short-term Borrowings (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Short-term Borrowings [Abstract] | |||||||||
Schedule of short-term borrowings | 31-Mar-15 | 31-Dec-14 | |||||||
Customer repurchase agreements | $ | 53,664 | $ | 53,480 | |||||
$ | 53,664 | $ | 53,480 |
Longterm_Borrowings_Tables
Long-term Borrowings (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Long-term Borrowings [Abstract] | |||||||||||||||||||
Schedule of long term advances with federal home loan bank | 31-Mar-15 | 31-Dec-14 | |||||||||||||||||
Due by | Advance | Weighted | Due by | Advance Amount | Weighted | ||||||||||||||
Amount | Average | Average | |||||||||||||||||
Rate | Rate | ||||||||||||||||||
Nov-17 | $ | 9,941 | 2.98 | % | Nov-17 | 9,935 | 2.98 | % | |||||||||||
$ | 9,941 | 2.98 | % | $ | 9,935 | 2.98 | % | ||||||||||||
      The advance due in November 2017 is net of a fair value discount of $59,000. The original discount recorded on July 1, 2011, was a result of the merger with MidCarolina. The adjustment to the face value will be amortized into interest expense over the life of the borrowing. There were no long-term borrowings acquired in the MainStreet acquisition and no borrowings were incurred to fund the acquisition. |
Trust_Preferred_Capital_Notes_
Trust Preferred Capital Notes (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Trust Preferred Capital Notes [Abstract] | |||||||||||||||||||||
Schedule of junior subordinated debt securities outstanding payable | Date | Interest | Maturity | Principal Amount | |||||||||||||||||
Issuing Entity | Issued | Rate | Date | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
AMNB Trust I | 4/7/06 | Libor plus | 6/30/36 | $ | 20,619 | $ | 20,619 | ||||||||||||||
1.35 | % | ||||||||||||||||||||
MidCarolina Trust I | 10/29/02 | Libor plus | 11/7/32 | 4,168 | 4,154 | ||||||||||||||||
3.45 | % | ||||||||||||||||||||
MidCarolina Trust II | 12/3/03 | Libor plus | 10/7/33 | 2,759 | 2,748 | ||||||||||||||||
2.95 | % | ||||||||||||||||||||
$ | 27,546 | $ | 27,521 | ||||||||||||||||||
       The principal amounts reflected for the MidCarolina Trusts are net of fair value adjustments of $987,000 and $850,000, respectively. The original fair value adjustments of $1,197,000 and $1,021,000 were recorded as a result of the merger with MidCarolina on July 1, 2011, and are being amortized into interest expense over the remaining lives of the respective borrowings. |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Stock-Based Compensation [Abstract] | |||||||||||||||
Schedule of summary of stock option transactions | Option | Weighted | Weighted | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | |||||||||||||
Price | Contractual Term | $0 | |||||||||||||
Outstanding at December 31, 2014 | 110,947 | $ | 26.08 | ||||||||||||
Acquired in acquisition | 43,086 | 20.02 | |||||||||||||
Granted | - | - | |||||||||||||
Exercised | 9,175 | 17.63 | |||||||||||||
Forfeited | - | - | |||||||||||||
Expired | - | $ | - | ||||||||||||
Outstanding at March 31, 2015 | 144,858 | 24.81 | 2.08 years | $ | 164 | ||||||||||
Exercisable at March 31, 2015 | 144,858 | $ | 24.81 | 2.08 years | $ | 164 | |||||||||
Schedule of nonvested restricted stock activity | Restricted Stock | Shares | Weighted Average Grant Date Value | ||||||||||||
Nonvested at December 31, 2014 | 41,562 | $ | 21.39 | ||||||||||||
Granted | 16,649 | 12.92 | |||||||||||||
Vested | 15,536 | 19.51 | |||||||||||||
Forfeited | - | - | |||||||||||||
Nonvested at March 31, 2015 | 42,675 | $ | 18.77 | ||||||||||||
       As of March 31, 2015 and December 31, 2014, there was $594,000 and $327,000 in unrecognized compensation cost related to nonvested restricted stock granted under the 2008 Plan. The weighted average period over which this cost is expected to be recognized is 1.77 years.  The share based compensation expense for nonvested restricted stock was $93,000 and $70,000 during the first three months of 2015 and 2014, respectively. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Schedule of weighted average number of shares used in computing earnings per share | Three Months Ended | ||||||||||||||||
31-Mar | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Shares | Per | Shares | Per | ||||||||||||||
Share | Share | ||||||||||||||||
Amount | Amount | ||||||||||||||||
Basic | 8,723,633 | $ | 0.4 | 7,904,759 | $ | 0.44 | |||||||||||
Effect of dilutive securities - stock options | 9,046 | - | 12,842 | - | |||||||||||||
Diluted | 8,732,679 | $ | 0.4 | 7,917,601 | $ | 0.44 | |||||||||||
      Stock options on common stock which were not included in computing diluted earnings per share for the three month periods ended March 31, 2015 and 2014, because their effects were antidilutive, averaged 79,726 and 110,542 shares, respectively. |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Employee Benefit Plans [Abstract] | |||||||||
Schedule of components of net periodic benefit cost | Three Months Ended | ||||||||
Components of Net Periodic Benefit Cost | 31-Mar | ||||||||
2015 | 2014 | ||||||||
Service cost | $ | - | $ | - | |||||
Interest cost | 74 | 76 | |||||||
Expected return on plan assets | (115 | ) | (117 | ) | |||||
Recognized net actuarial loss | 154 | 18 | |||||||
Net periodic (benefit) cost | $ | 113 | $ | (23 | ) |
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Segment and Related Information [Abstract] | |||||||||||||||||||||
Schedule of segment information | Three Months Ended March 31, 2015 | ||||||||||||||||||||
Community | Trust and | Other | Intersegment | Total | |||||||||||||||||
Banking | Investment | Eliminations | |||||||||||||||||||
Services | |||||||||||||||||||||
Interest income | $ | $13,824 | $ | - | $ | 15 | $ | - | $ | 13,839 | |||||||||||
Interest expense | 1,277 | - | 184 | - | 1,461 | ||||||||||||||||
Noninterest income | 1,983 | 1,168 | 5 | - | 3,156 | ||||||||||||||||
Income (loss) before income taxes | 4,507 | 650 | (270 | ) | - | 4,887 | |||||||||||||||
Net income (loss) | 3,225 | 468 | (178 | ) | - | 3,515 | |||||||||||||||
Depreciation and amortization | 738 | 3 | - | - | 741 | ||||||||||||||||
Total assets | 1,537,939 | - | 224,313 | (222,154 | ) | 1,540,098 | |||||||||||||||
Goodwill | 44,210 | - | - | - | 44,210 | ||||||||||||||||
Capital expenditures | 348 | - | - | - | 348 | ||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||
Community | Trust and | Other | Intersegment | Total | |||||||||||||||||
Banking | Investment | Eliminations | |||||||||||||||||||
Services | |||||||||||||||||||||
Interest income | $ | 11,939 | $ | - | $ | 15 | $ | - | $ | 11,954 | |||||||||||
Interest expense | 1,311 | - | 184 | - | 1,495 | ||||||||||||||||
Noninterest income | 1,431 | 1,267 | 5 | - | 2,703 | ||||||||||||||||
Income (loss) before income taxes | 4,071 | 874 | (206 | ) | - | 4,739 | |||||||||||||||
Net income (loss) | 2,949 | 637 | (136 | ) | - | 3,450 | |||||||||||||||
Depreciation and amortization | 762 | 3 | - | - | 765 | ||||||||||||||||
Total assets | 1,297,729 | - | 198,011 | (195,938 | ) | 1,299,802 | |||||||||||||||
Goodwill | 39,043 | - | - | - | 39,043 | ||||||||||||||||
Capital expenditures | 119 | - | - | - | 119 | ||||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | |||||||||||||||||||||
Schedule of fair value assets and liabilities measured on recurring basis | Fair Value Measurements at March 31, 2015 Using | ||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Mar | |||||||||||||||||||||
Description | 2015 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Federal agencies and GSEs | $ | 78,887 | $ | - | $ | 78,887 | $ | - | |||||||||||||
Mortgage-backed and CMOs | 64,849 | - | 64,849 | - | |||||||||||||||||
State and municipal | 198,200 | - | 198,200 | - | |||||||||||||||||
Corporate | 8,907 | - | 8,907 | - | |||||||||||||||||
Equity | 1,365 | - | - | 1,365 | |||||||||||||||||
Total | $ | 352,208 | $ | - | $ | 350,843 | $ | 1,365 | |||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Dec | |||||||||||||||||||||
Description | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Federal agencies and GSEs | $ | 82,106 | $ | 2,995 | $ | 79,111 | $ | - | |||||||||||||
Mortgage-backed and CMOs | 57,425 | - | 57,425 | - | |||||||||||||||||
State and municipal | 195,493 | 1,172 | 194,321 | - | |||||||||||||||||
Corporate | 8,379 | - | 8,379 | - | |||||||||||||||||
Equity | 1,313 | - | - | 1,313 | |||||||||||||||||
Total | $ | 344,716 | $ | 4,167 | $ | 339,236 | $ | 1,313 | |||||||||||||
Schedule of fair value measurements using significant unobservable inputs (Level 3) | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||
   | Total Realized / Unrealized Gains | ||||||||||||||||||||
(Losses) Included in | |||||||||||||||||||||
Balances as of January 1, 2015 | Net Income | Other Comprehensive Income | Purchases, Sales, Issuances and Settlements, Net | Transfer In (Out) of Level 3 | Balances as of March 31, 2015 | ||||||||||||||||
Securities available for sale: | Â Â Â Â Â Â Â Â Â Â Â | ||||||||||||||||||||
             | |||||||||||||||||||||
Equity | $ | $1,313 | $ | - | $ | Â 52 | $ | - | $ | - | $ | Â $1,365 | |||||||||
       Certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. | |||||||||||||||||||||
Schedule of assets that were measured at fair value on a nonrecurring basis | Fair Value Measurements at March 31, 2015 Using | ||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
March 31, | |||||||||||||||||||||
Description | 2015 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Loans held for sale | $ | 1,936 | $ | - | $ | 1,936 | $ | - | |||||||||||||
Impaired loans, net of valuation allowance | 2,036 | - | - | 2,036 | |||||||||||||||||
Other real estate owned | 2,653 | - | - | 2,653 | |||||||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||
31-Dec | |||||||||||||||||||||
Description | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | |||||||||||||||||||||
Loans held for sale | $ | 616 | $ | - | $ | 616 | $ | - | |||||||||||||
Impaired loans, net of valuation allowance | 1,705 | - | - | 1,705 | |||||||||||||||||
Other real estate owned | 2,119 | - | - | 2,119 | |||||||||||||||||
Schedule of quantitative information of assets measured at Level 3 | Quantitative Information About Level 3 Fair Value Measurements for March 31, 2015 | ||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input | Weighted | ||||||||||||||||||
Rate | |||||||||||||||||||||
Securities available for sale | Consideration of equity conversion options | Stock price in different rate environments | 37% | ||||||||||||||||||
Impaired loans | Discounted appraised value | Selling cost | 6% | ||||||||||||||||||
Discounted cash flows | Market rate for borrower (discount rate) | 6% | |||||||||||||||||||
Other real estate owned | Discounted appraised value | Selling cost | 6% | ||||||||||||||||||
Quantitative Information About Level 3 Fair Value Measurements for December 31, 2014 | |||||||||||||||||||||
Assets | Valuation Technique | Unobservable Input | Weighted | ||||||||||||||||||
Rate | |||||||||||||||||||||
Securities available for sale | Consideration of equity conversion options | Stock price in different rate environments | 0.37 | ||||||||||||||||||
Impaired loans | Discounted appraised value | Selling cost | 0.06 | ||||||||||||||||||
Discounted cash flows | Market rate for borrower (discount rate) | 0.06 | |||||||||||||||||||
Other real estate owned | Discounted appraised value | Selling cost | 0.06 | ||||||||||||||||||
       The carrying values and estimated fair values of the Company's financial instruments at March 31, 2015 are as follows (dollars in thousands): | |||||||||||||||||||||
Schedule of carrying values and estimated fair values of the entity's financial instruments | Fair Value Measurements at March 31, 2015 Using | ||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Fair Value | ||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Balance | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 112,865 | $ | 112,865 | $ | - | $ | - | $ | 112,865 | |||||||||||
Securities available for sale | 352,208 | - | 350,843 | 1,365 | 352,208 | ||||||||||||||||
Restricted stock | 5,231 | - | 5,231 | - | 5,231 | ||||||||||||||||
Loans held for sale | 1,936 | - | 1,936 | - | 1,936 | ||||||||||||||||
Loans, net of allowance | 953,058 | - | - | 960,088 | 960,088 | ||||||||||||||||
Bank owned life insurance | 17,261 | - | 17,261 | - | 17,261 | ||||||||||||||||
Accrued interest receivable | 4,734 | - | 4,734 | - | 4,734 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | $ | 1,242,675 | $ | - | $ | 823,349 | $ | 412,480 | $ | 1,235,829 | |||||||||||
Repurchase agreements | 53,664 | - | 53,664 | - | 53,664 | ||||||||||||||||
Other borrowings | 9,941 | - | - | 10,473 | 10,473 | ||||||||||||||||
Trust preferred capital notes | 27,546 | - | - | 22,751 | 22,751 | ||||||||||||||||
Accrued interest payable | 638 | - | 638 | - | 638 | ||||||||||||||||
       The carrying values and estimated fair values of the Company's financial instruments at December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements at December 31, 2014 Using | |||||||||||||||||||||
Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | Fair Value | ||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Balance | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 67,303 | $ | 67,303 | $ | - | $ | - | $ | 67,303 | |||||||||||
Securities available for sale | 344,716 | 4,167 | 339,236 | 1,313 | 344,716 | ||||||||||||||||
Restricted stock | 4,534 | - | 4,534 | - | 4,534 | ||||||||||||||||
Loans held for sale | 616 | - | 616 | - | 616 | ||||||||||||||||
Loans, net of allowance | 828,498 | - | - | 832,708 | 832,708 | ||||||||||||||||
Bank owned life insurance | 15,193 | - | 15,193 | - | 15,193 | ||||||||||||||||
Accrued interest receivable | 4,534 | - | 4,534 | - | 4,534 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | $ | 1,075,837 | $ | - | $ | 712,019 | $ | 365,310 | $ | 1,077,329 | |||||||||||
Repurchase agreements | 53,480 | - | 53,480 | - | 53,480 | ||||||||||||||||
Other borrowings | 9,935 | - | - | 10,432 | 10,432 | ||||||||||||||||
Trust preferred capital notes | 27,521 | - | - | 22,009 | 22,009 | ||||||||||||||||
Accrued interest payable | 587 | - | 587 | - | 587 | ||||||||||||||||
       The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments: |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||
Schedule of supplemental disclosure of cash flow information | Three Months Ended | ||||||||
31-Mar | |||||||||
2015 | 2014 | ||||||||
Supplemental Schedule of Cash and Cash Equivalents: | |||||||||
Cash and due from banks | $ | 23,995 | $ | 25,880 | |||||
Interest-bearing deposits in other banks | 75,254 | 45,466 | |||||||
Federal funds sold | 13,616 | - | |||||||
- | - | ||||||||
Cash and Cash Equivalents | $ | 112,865 | $ | 71,346 | |||||
Supplemental Disclosure of Cash Flow Information: | |||||||||
Cash paid for: | |||||||||
Interest on deposits and borrowed funds | $ | 1,410 | $ | 1,538 | |||||
Income taxes | - | - | |||||||
Noncash investing and financing activities: | - | - | |||||||
Transfer of loans to other real estate owned | (677 | ) | 18 | ||||||
Unrealized gain on securities available for sale | 925 | 1,770 | |||||||
Non-cash transactions related to acquisitions: | |||||||||
Assets acquired: | |||||||||
Investment securities | 18,800 | - | |||||||
Restricted stock | 738 | - | |||||||
Loans | 114,902 | - | |||||||
Premises and equipment | 1,475 | - | |||||||
Deferred income taxes | 2,683 | - | |||||||
Core deposit intangible | 1,839 | - | |||||||
Other real estate owned | 168 | - | |||||||
Bank owned life insurance | 1,955 | - | |||||||
Other assets | 917 | - | |||||||
Liabilities assumed: | |||||||||
Deposits | 137,323 | - | |||||||
Other liabilities | 3,076 | - | |||||||
Consideration: | |||||||||
Issuance of common stock | 20,483 | - |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Accumulated Other Comprehensive Income [Abstract] | |||||||||||||
Component of accumulated other comprehensive income (loss) | For the Three Month Period | Net Unrealized Gains (Losses) on Securities | Adjustments Related to Pension Benefits | Accumulated Other Comprehensive Income | |||||||||
31-Dec-13 | $ | 3,578 | $ | (1,058 | ) | $ | 2,520 | ||||||
Net unrealized gains on securities available for sale, net of tax, $633 | 1,176 | - | 1,176 | ||||||||||
Reclassification adjustment for gains on securities, net of tax, $(14) | (25 | ) | - | (25 | ) | ||||||||
Balance at March 31, 2014 | $ | 4,729 | $ | (1,058 | ) | $ | 3,671 | ||||||
Balance at December 31, 2014 | $ | 5,845 | $ | (2,181 | ) | $ | 3,664 | ||||||
Net unrealized gains on securities available for sale, net of tax, $432 | 802 | - | 802 | ||||||||||
   Reclassification adjustment for gains on securities, net of tax, $(109) | (201 | ) | - | (201 | ) | ||||||||
Balance at March 31, 2015 | $ | 6,446 | $ | (2,181 | ) | $ | 4,265 | ||||||
Reclassification out of accumulated other comprehensive income | Reclassifications Out of Accumulated Other Comprehensive Income | ||||||||||||
For the three month periods ending March 31, 2015 and 2014 | |||||||||||||
(dollars in thousands) | |||||||||||||
For the Three Month Period Ended March 31, 2015 | Amount | Affected Line Item in | |||||||||||
Reclassified | the Statement of Where | ||||||||||||
Details about AOCI Components | from AOCI | Net Income is Presented | |||||||||||
   | |||||||||||||
Available for sale securities: | Â Â | ||||||||||||
Realized gain on sale of securities | $ | 310 | Securities gains, net | ||||||||||
(109 | ) | Income tax expense | |||||||||||
Total reclassifications | $ | 201 | Net of tax | ||||||||||
For the Three Month Period Ended March 31, 2014 | Amount | Affected Line Item in | |||||||||||
Reclassified | the Statement of Where | ||||||||||||
Details about AOCI Components | from AOCI | Net Income is Presented | |||||||||||
   | |||||||||||||
Available for sale securities: | Â Â | ||||||||||||
Realized gain on sale of securities | $ | 39 | Securities gains, net | ||||||||||
(14 | ) | Income tax expense | |||||||||||
Total reclassifications | $ | 25 | Net of tax |
Merger_with_MainStreet_Details
Merger with MainStreet (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Jan. 01, 2015 | |
Branch | ||||
Merger with MainStreet[Abstract] | ||||
Number of branches added during expansion of business | 3 | |||
Number of shares received by the stockholder of acquiree entity in exchange of acquirer entity's common stock (in shares) | 0.33 | |||
Shares exchange ratio on acquisition | 33.00% | |||
Number of additional common stock issued in connection with merger (in shares) | 825,586 | |||
Amortization period of core deposit | 10 years | |||
Consideration Paid [Abstract] | ||||
Common shares issued (825,586) | $20,483,000 | $0 | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid (Deprecated 2013-01-31) | 5,935,000 | |||
Fair Value of Options | 0 | |||
Preferred shares issued (5,000) | 0 | |||
Value of consideration | 26,418,000 | |||
Assets acquired [Abstract] | ||||
Cash and cash equivalents | 18,173,000 | |||
Investment securities | 18,800,000 | 0 | 18,800,000 | |
Business combination fair value of identifiable assets, restricted stock | 738,000 | 0 | 738,000 | |
Loans held for sale | 0 | |||
Loans, net of unearned income | 114,902,000 | 0 | 114,902,000 | |
Premises and equipment, net | 1,475,000 | 0 | 1,475,000 | |
Deferred income taxes | 2,683,000 | 0 | 2,683,000 | |
Core deposit intangible | 1,839,000 | 0 | 1,839,000 | |
Other real estate owned | 168,000 | 0 | 168,000 | |
Business Combination Bank Owned Life Insurance | 1,955,000 | 0 | 1,955,000 | |
Other assets | 917,000 | 0 | 917,000 | |
Total assets | 161,650,000 | |||
Liabilities assumed [Abstract] | ||||
Deposits | 137,323,000 | 0 | 137,323,000 | |
FHLB advances | 0 | |||
Other borrowings | 0 | |||
Other liabilities | 3,076,000 | 0 | 3,076,000 | |
Total Liabilities | 140,399,000 | |||
Net assets acquired | 21,251,000 | |||
Goodwill resulting from merger with MidCarolina | 44,210,000 | 39,043,000 | 39,043,000 | 5,167,000 |
Direct costs related to acquisition expense | 359,000 | |||
Acquired loan portfolio at fair value | 122,300,000 | |||
Discount on acquired loan portfolio at fair value | 7,400,000 | |||
Performing portion of acquired loan portfolio estimated at fair value | 105,800,000 | |||
Details the acquired loans that are accounted for in accordance with FASB ASC 310-30 [Abstract] | ||||
Contractually required principal and interest at acquisition | 13,504,000 | |||
Contractual cash flows not expected to be collected (nonaccretable difference) | 3,298,000 | |||
Expected cash flows at acquisition | 10,206,000 | |||
Interest component of expected cash flows (accretable discount) | 1,208,000 | |||
Fair value of acquired loans accounted for under FASB ASC 310-30 | 8,998,000 | |||
Business acquisition, pro forma net interest income | 11,980,000 | 12,420,000 | ||
Business acquisition, pro forma provision for loan loss | -600,000 | 0 | ||
Business acquisition, pro forma non interest income | 3,156,000 | 2,914,000 | ||
Business acquisition, pro forma non interest expense and income taxes | -11,134,000 | -11,439,000 | ||
Business Acquisition, Pro Forma Net Income (Loss) | 3,402,000 | 3,895,000 | ||
MidCarolina [Member] | ||||
Merger with MainStreet[Abstract] | ||||
Amortization period of core deposit | 120 months | |||
Assets acquired [Abstract] | ||||
Core deposit intangible | $1,839,000 |
Securities_Details
Securities (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Securities available for sale [Abstract] | ||
Amortized Cost | $342,290 | $335,723 |
Unrealized Gains | 10,061 | 9,352 |
Unrealized Losses | 143 | 359 |
Estimated Fair Value | 352,208 | 344,716 |
Restricted Stock [Abstract] | ||
Par value of restricted stock out of outstanding capital required by FRB (in hundredths) | 6.00% | |
Par value of restricted stock out of outstanding borrowings required by FHLB (in hundredths) | 4.50% | |
Cost of restricted stock [Abstract] | ||
Total restricted stock | 5,231 | 4,468 |
Available for sale securities, continuous unrealized loss position [Abstract] | ||
Estimated Fair Value | 30,915 | 61,735 |
Unrealized Loss | 143 | 359 |
Less than 12 Months, Estimated Fair Value | 24,962 | 40,729 |
Less than 12 Months, Unrealized Loss | 102 | 112 |
12 Months or More, Estimated Fair Value | 5,953 | 21,006 |
12 Months or More, Unrealized Loss | 41 | 247 |
Federal Agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Amortized Cost | 78,383 | 81,958 |
Unrealized Gains | 513 | 252 |
Unrealized Losses | 9 | 104 |
Estimated Fair Value | 78,887 | 82,106 |
Available for sale securities, continuous unrealized loss position [Abstract] | ||
Estimated Fair Value | 7,589 | 28,979 |
Unrealized Loss | 9 | 104 |
Less than 12 Months, Estimated Fair Value | 5,492 | 21,449 |
Less than 12 Months, Unrealized Loss | 6 | 35 |
12 Months or More, Estimated Fair Value | 2,097 | 7,530 |
12 Months or More, Unrealized Loss | 3 | 69 |
Pacific Coast Bankers Bank Stock [Member] | ||
Cost of restricted stock [Abstract] | ||
Total restricted stock | 102 | 0 |
Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Amortized Cost | 63,514 | 56,289 |
Unrealized Gains | 1,400 | 1,248 |
Unrealized Losses | 65 | 112 |
Estimated Fair Value | 64,849 | 57,425 |
Available for sale securities, continuous unrealized loss position [Abstract] | ||
Estimated Fair Value | 7,335 | 7,182 |
Unrealized Loss | 65 | 112 |
Less than 12 Months, Estimated Fair Value | 5,095 | 1,171 |
Less than 12 Months, Unrealized Loss | 39 | 13 |
12 Months or More, Estimated Fair Value | 2,240 | 6,011 |
12 Months or More, Unrealized Loss | 26 | 99 |
State and Municipal [Member] | ||
Securities available for sale [Abstract] | ||
Amortized Cost | 190,539 | 188,060 |
Unrealized Gains | 7,717 | 7,523 |
Unrealized Losses | 56 | 90 |
Estimated Fair Value | 198,200 | 195,493 |
Available for sale securities, continuous unrealized loss position [Abstract] | ||
Estimated Fair Value | 13,213 | 20,542 |
Unrealized Loss | 56 | 90 |
Less than 12 Months, Estimated Fair Value | 13,213 | 15,836 |
Less than 12 Months, Unrealized Loss | 56 | 60 |
12 Months or More, Estimated Fair Value | 0 | 4,706 |
12 Months or More, Unrealized Loss | 0 | 30 |
Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Amortized Cost | 8,854 | 8,416 |
Unrealized Gains | 66 | 16 |
Unrealized Losses | 13 | 53 |
Estimated Fair Value | 8,907 | 8,379 |
Available for sale securities, continuous unrealized loss position [Abstract] | ||
Estimated Fair Value | 2,778 | 5,032 |
Unrealized Loss | 13 | 53 |
Less than 12 Months, Estimated Fair Value | 1,162 | 2,273 |
Less than 12 Months, Unrealized Loss | 1 | 4 |
12 Months or More, Estimated Fair Value | 1,616 | 2,759 |
12 Months or More, Unrealized Loss | 12 | 49 |
Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Amortized Cost | 1,000 | 1,000 |
Unrealized Gains | 365 | 313 |
Unrealized Losses | 0 | 0 |
Estimated Fair Value | 1,365 | 1,313 |
FRB Stock [Member] | ||
Cost of restricted stock [Abstract] | ||
Total restricted stock | 3,177 | 2,742 |
FHLB Stock [Member] | ||
Cost of restricted stock [Abstract] | ||
Total restricted stock | 1,802 | 1,625 |
CBB Financial Corporation Stock [Member] | ||
Cost of restricted stock [Abstract] | ||
Total restricted stock | $150 | $101 |
Loans_Details
Loans (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $965,902 | $840,925 |
Interest income, including accretion, on loans | 4,675 | |
Accretion income included in interest income | 1,070 | |
Outstanding principal balance and the carrying amount of loan acquired [Abstract] | ||
Outstanding principal balance | 189,911 | 84,892 |
Carrying amount | 177,105 | 78,111 |
Outstanding principal balance and the carrying amount of loan acquired, impaired [Abstract] | ||
Outstanding principal balance | 27,843 | 18,357 |
Carrying amount | 21,758 | 14,933 |
Changes in the accretable discount on acquired loans [Abstract] | ||
Balance, beginning of period | 1,440 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Additions | 1,208 | |
Accretion | -268 | |
Reclassification from nonaccretable difference | 2,851 | |
Balance, end of period | 5,231 | 1,440 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 146,280 | 126,981 |
Commercial real estate, portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 504,631 | 442,335 |
Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 68,069 | 50,863 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 436,562 | 391,472 |
Residential real estate, portfolio [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 309,072 | 266,368 |
Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 211,261 | 175,293 |
Home equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 97,811 | 91,075 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $5,919 | $5,241 |
Loans_Receivables_Past_Due_Det
Loans, Receivables Past Due (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | $1,376 | $1,029 |
60-89 Days Past Due | 602 | 861 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 5,123 | 4,112 |
Total Past Due | 7,101 | 6,002 |
Current | 958,801 | 834,923 |
Total Loans | 965,902 | 840,925 |
Commercial [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 51 | 114 |
60-89 Days Past Due | 0 | 165 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 157 | 0 |
Total Past Due | 208 | 279 |
Current | 146,072 | 126,702 |
Total Loans | 146,280 | 126,981 |
Commercial real estate, portfolio [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
Total Loans | 504,631 | 442,335 |
Construction and land development [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 108 | 44 |
60-89 Days Past Due | 0 | 269 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 572 | 279 |
Total Past Due | 680 | 592 |
Current | 67,389 | 50,271 |
Total Loans | 68,069 | 50,863 |
Commercial real estate [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 341 | 257 |
60-89 Days Past Due | 0 | 0 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 3,242 | 3,010 |
Total Past Due | 3,583 | 3,267 |
Current | 432,979 | 388,205 |
Total Loans | 436,562 | 391,472 |
Residential real estate, portfolio [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
Total Loans | 309,072 | 266,368 |
Residential [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 776 | 390 |
60-89 Days Past Due | 177 | 325 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 678 | 560 |
Total Past Due | 1,631 | 1,275 |
Current | 209,630 | 174,018 |
Total Loans | 211,261 | 175,293 |
Home equity [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 98 | 223 |
60-89 Days Past Due | 424 | 60 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 432 | 262 |
Total Past Due | 954 | 545 |
Current | 96,857 | 90,530 |
Total Loans | 97,811 | 91,075 |
Consumer [Member] | ||
Analysis by portfolio segment of the entity's past due loans [Abstract] | ||
30-59 Days Past Due | 2 | 1 |
60-89 Days Past Due | 1 | 42 |
90 Days + Past Due and Still Accruing | 0 | 0 |
Non-Accrual Loans | 42 | 1 |
Total Past Due | 45 | 44 |
Current | 5,874 | 5,197 |
Total Loans | $5,919 | $5,241 |
Loans_Impaired_Loan_Details
Loans, Impaired Loan (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | $3,141 | $2,667 |
Impaired loan, with an related allowance, recorded investment | 2,152 | 1,870 |
Impaired loan, total, recorded investment | 5,293 | 4,537 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 3,252 | 2,989 |
Impaired loan, with an related allowance, unpaid principal balance | 2,222 | 2,018 |
Impaired loan, total, unpaid principal balance | 5,474 | 5,007 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 116 | 165 |
Impaired loan, total, related allowance | 116 | 165 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 2,933 | 3,345 |
Impaired loan, with related allowance, average recorded investment | 2,158 | 1,911 |
Impaired loan, total, average recorded investment | 5,091 | 5,256 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 16 | 9 |
Impaired loan, with related allowance, interest income recognized | 5 | 43 |
Impaired loan, total, interest income recognized | 21 | 52 |
Commercial [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 157 | 7 |
Impaired loan, with an related allowance, recorded investment | 6 | 0 |
Impaired loan, total, recorded investment | 163 | 7 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 157 | 7 |
Impaired loan, with an related allowance, unpaid principal balance | 6 | 0 |
Impaired loan, total, unpaid principal balance | 163 | 7 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 0 | 0 |
Impaired loan, total, related allowance | 0 | 0 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 160 | 12 |
Impaired loan, with related allowance, average recorded investment | 6 | 0 |
Impaired loan, total, average recorded investment | 166 | 12 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 0 | 1 |
Impaired loan, with related allowance, interest income recognized | 0 | 0 |
Impaired loan, total, interest income recognized | 0 | 1 |
Construction and land development [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 1,111 | 280 |
Impaired loan, with an related allowance, recorded investment | 0 | 576 |
Impaired loan, total, recorded investment | 1,111 | 856 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 1,161 | 325 |
Impaired loan, with an related allowance, unpaid principal balance | 0 | 577 |
Impaired loan, total, unpaid principal balance | 1,161 | 902 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 0 | 12 |
Impaired loan, total, related allowance | 0 | 12 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 1,115 | 448 |
Impaired loan, with related allowance, average recorded investment | 0 | 593 |
Impaired loan, total, average recorded investment | 1,115 | 1,041 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 8 | 0 |
Impaired loan, with related allowance, interest income recognized | 0 | 34 |
Impaired loan, total, interest income recognized | 8 | 34 |
Commercial real estate [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 414 | 1,520 |
Impaired loan, with an related allowance, recorded investment | 1,941 | 1,275 |
Impaired loan, total, recorded investment | 2,355 | 2,795 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 475 | 1,797 |
Impaired loan, with an related allowance, unpaid principal balance | 2,011 | 1,422 |
Impaired loan, total, unpaid principal balance | 2,486 | 3,219 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 104 | 149 |
Impaired loan, total, related allowance | 104 | 149 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 420 | 1,844 |
Impaired loan, with related allowance, average recorded investment | 1,946 | 1,297 |
Impaired loan, total, average recorded investment | 2,366 | 3,141 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 0 | 0 |
Impaired loan, with related allowance, interest income recognized | 3 | 8 |
Impaired loan, total, interest income recognized | 3 | 8 |
Residential [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 658 | 603 |
Impaired loan, with an related allowance, recorded investment | 183 | 4 |
Impaired loan, total, recorded investment | 841 | 607 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 658 | 603 |
Impaired loan, with an related allowance, unpaid principal balance | 183 | 4 |
Impaired loan, total, unpaid principal balance | 841 | 607 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 12 | 1 |
Impaired loan, total, related allowance | 12 | 1 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 642 | 723 |
Impaired loan, with related allowance, average recorded investment | 183 | 4 |
Impaired loan, total, average recorded investment | 825 | 727 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 4 | 8 |
Impaired loan, with related allowance, interest income recognized | 2 | 0 |
Impaired loan, total, interest income recognized | 6 | 8 |
Home equity [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 758 | 256 |
Impaired loan, with an related allowance, recorded investment | 8 | 0 |
Impaired loan, total, recorded investment | 766 | 256 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 759 | 256 |
Impaired loan, with an related allowance, unpaid principal balance | 8 | 0 |
Impaired loan, total, unpaid principal balance | 767 | 256 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 0 | 0 |
Impaired loan, total, related allowance | 0 | 0 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 553 | 316 |
Impaired loan, with related allowance, average recorded investment | 8 | 0 |
Impaired loan, total, average recorded investment | 561 | 316 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 4 | 0 |
Impaired loan, with related allowance, interest income recognized | 0 | 0 |
Impaired loan, total, interest income recognized | 4 | 0 |
Consumer [Member] | ||
Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, recorded investment | 43 | 1 |
Impaired loan, with an related allowance, recorded investment | 14 | 15 |
Impaired loan, total, recorded investment | 57 | 16 |
Unpaid Principal Balance [Abstract] | ||
Impaired loan, with no related allowance, unpaid principal balance | 42 | 1 |
Impaired loan, with an related allowance, unpaid principal balance | 14 | 15 |
Impaired loan, total, unpaid principal balance | 56 | 16 |
Related Allowance [Abstract] | ||
Impaired loan, with no related allowance | 0 | 0 |
Impaired loan, with related allowance | 0 | 3 |
Impaired loan, total, related allowance | 0 | 3 |
Average Recorded Investment [Abstract] | ||
Impaired loan, with no related allowance, average recorded investment | 43 | 2 |
Impaired loan, with related allowance, average recorded investment | 15 | 17 |
Impaired loan, total, average recorded investment | 58 | 19 |
Interest Income Recognized [Abstract] | ||
Impaired loan, with no related allowance, interest income recognized | 0 | 0 |
Impaired loan, with related allowance, interest income recognized | 0 | 1 |
Impaired loan, total, interest income recognized | $0 | $1 |
Loans_Troubled_Debt_Restructur
Loans, Troubled Debt Restructuring (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Contract | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 3 |
Pre-Modification Outstanding Recorded Investment | $349 |
Post-Modification Outstanding Recorded Investment | 349 |
Commercial [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 0 |
Pre-Modification Outstanding Recorded Investment | 0 |
Post-Modification Outstanding Recorded Investment | 0 |
Construction and land development [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 0 |
Pre-Modification Outstanding Recorded Investment | 0 |
Post-Modification Outstanding Recorded Investment | 0 |
Home equity [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 2 |
Pre-Modification Outstanding Recorded Investment | 341 |
Post-Modification Outstanding Recorded Investment | 341 |
Commercial real estate [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 1 |
Pre-Modification Outstanding Recorded Investment | 8 |
Post-Modification Outstanding Recorded Investment | 8 |
Residential Real Estate [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 0 |
Pre-Modification Outstanding Recorded Investment | 0 |
Post-Modification Outstanding Recorded Investment | 0 |
Consumer [Member] | |
Loans modified as troubled debt restructurings included in impaired loan balances [Abstract] | |
Number of Contracts | 0 |
Pre-Modification Outstanding Recorded Investment | 0 |
Post-Modification Outstanding Recorded Investment | $0 |
Loans_Credit_exposure_Details
Loans, Credit exposure (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $965,902 | $840,925 |
Threshold limit to consider loan as nonperforming | 90 days | |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 146,280 | 126,981 |
Commercial Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 68,069 | 50,863 |
Commercial Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 436,562 | 391,472 |
Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 211,261 | 175,293 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 97,811 | 91,075 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,919 | 5,241 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 143,138 | 125,405 |
Pass [Member] | Commercial Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 60,150 | 45,534 |
Pass [Member] | Commercial Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 417,148 | 382,607 |
Pass [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 191,888 | 165,367 |
Pass [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 94,742 | 88,646 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,727 | 1,569 |
Special Mention [Member] | Commercial Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,621 | 569 |
Special Mention [Member] | Commercial Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,153 | 4,889 |
Special Mention [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,990 | 6,709 |
Special Mention [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,015 | 1,801 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 415 | 7 |
Substandard [Member] | Commercial Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,298 | 4,760 |
Substandard [Member] | Commercial Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 8,261 | 3,976 |
Substandard [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,383 | 3,217 |
Substandard [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,054 | 628 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Doubtful [Member] | Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Doubtful [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,877 | 5,240 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $42 | $1 |
Allowance_for_Loan_Losses_and_2
Allowance for Loan Losses and Reserve for Unfunded Lending Commitments (Details) (USD $) | 3 Months Ended | 12 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Sep. 30, 2014 |
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | $12,600 | $12,600 | $12,600 | |
Provision for loan losses | 600 | 0 | 400 | |
Charge-offs | -309 | -73 | -964 | |
Recoveries | 126 | 87 | 391 | |
Balance, end of year | 12,844 | 12,614 | 12,427 | |
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 116 | 165 | ||
Collectively evaluated for impairment | 11,806 | 11,716 | ||
Loans acquired with deteriorated credit quality | 922 | 546 | ||
Total | 12,844 | 12,614 | 12,427 | |
Reserve for Unfunded Lending Commitments [Abstract] | ||||
Balance, beginning of year | 210 | 210 | 210 | |
Provision for loan losses | 6 | 7 | -47 | |
Charge-offs | 0 | 0 | 0 | |
Balance, end of year | 169 | 217 | 163 | |
Loans [Abstract] | ||||
Individually evaluated for impairment | 5,293 | 4,537 | ||
Collectively evaluated for impairment | 938,851 | 821,455 | ||
Loans acquired with deteriorated credit quality | 21,758 | 14,933 | ||
Total Loans | 965,902 | 840,925 | ||
Commercial [Member] | ||||
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | 1,810 | 1,810 | 1,810 | |
Provision for loan losses | 58 | 1 | ||
Charge-offs | -101 | 0 | ||
Recoveries | 51 | 9 | ||
Balance, end of year | 1,828 | 1,818 | ||
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 1,826 | 1,815 | ||
Loans acquired with deteriorated credit quality | 2 | 3 | ||
Total | 1,828 | 1,818 | ||
Loans [Abstract] | ||||
Individually evaluated for impairment | 163 | 7 | ||
Collectively evaluated for impairment | 145,874 | 126,774 | ||
Loans acquired with deteriorated credit quality | 243 | 200 | ||
Total Loans | 146,280 | 126,981 | ||
Commercial Real Estate [Member] | ||||
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | 6,819 | 6,819 | 6,819 | |
Provision for loan losses | 439 | 434 | ||
Charge-offs | -510 | -267 | ||
Recoveries | 66 | 57 | ||
Balance, end of year | 7,038 | 6,814 | ||
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 104 | 161 | ||
Collectively evaluated for impairment | 6,496 | 6,400 | ||
Loans acquired with deteriorated credit quality | 438 | 253 | ||
Total | 7,038 | 6,814 | ||
Loans [Abstract] | ||||
Individually evaluated for impairment | 3,466 | 3,651 | ||
Collectively evaluated for impairment | 488,377 | 429,660 | ||
Loans acquired with deteriorated credit quality | 12,788 | 9,024 | ||
Total Loans | 504,631 | 442,335 | ||
Residential Real Estate [Member] | ||||
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | 3,690 | 3,690 | 3,690 | |
Provision for loan losses | 92 | 156 | ||
Charge-offs | -258 | -7 | ||
Recoveries | 191 | 27 | ||
Balance, end of year | 3,891 | 3,715 | ||
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 12 | 1 | ||
Collectively evaluated for impairment | 3,397 | 3,424 | ||
Loans acquired with deteriorated credit quality | 482 | 290 | ||
Total | 3,891 | 3,715 | ||
Loans [Abstract] | ||||
Individually evaluated for impairment | 1,607 | 863 | ||
Collectively evaluated for impairment | 299,025 | 259,796 | ||
Loans acquired with deteriorated credit quality | 8,440 | 5,709 | ||
Total Loans | 309,072 | 266,368 | ||
Consumer [Member] | ||||
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | 99 | 99 | 99 | |
Provision for loan losses | -7 | -2 | ||
Charge-offs | -95 | -35 | ||
Recoveries | 83 | 33 | ||
Balance, end of year | 76 | 80 | ||
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 0 | 3 | ||
Collectively evaluated for impairment | 76 | 77 | ||
Loans acquired with deteriorated credit quality | 0 | 0 | ||
Total | 76 | 80 | ||
Loans [Abstract] | ||||
Individually evaluated for impairment | 57 | 16 | ||
Collectively evaluated for impairment | 5,575 | 5,225 | ||
Loans acquired with deteriorated credit quality | 287 | 0 | ||
Total Loans | 5,919 | 5,241 | ||
Unallocated Financing Receivables [Member] | ||||
Allowance for Loan Losses [Roll Forward] | ||||
Balance, beginning of year | 182 | 182 | 182 | |
Provision for loan losses | -182 | 11 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Balance, end of year | 11 | 0 | ||
Allowance for Credit Loss, Additional Information [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 11 | 0 | ||
Loans acquired with deteriorated credit quality | 0 | 0 | ||
Total | 11 | 0 | ||
Loans [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Loans acquired with deteriorated credit quality | 0 | 0 | ||
Total Loans | $0 | $0 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Jan. 01, 2015 | Dec. 31, 2014 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Core deposit intangible | $1,839,000 | $1,839,000 | $0 | |
Amortization period of intangible | 10 years | |||
Changes in the carrying amount of goodwill [Roll Forward] | ||||
Goodwill, beginning of period | 5,167,000 | 39,043,000 | ||
Goodwill, Additions | 5,167,000 | |||
Goodwill, Amortization | 0 | |||
Goodwill, Impairment | 0 | |||
Goodwill, end of period | 44,210,000 | 39,043,000 | 39,043,000 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangibles, Beginning Balance | 2,045,000 | |||
Intangibles, Additions | 1,839,000 | |||
Intangibles, Amortization | -301,000 | -331,000 | ||
Intangibles, Impairment | 0 | |||
Intangibles, Ending Balance | 3,583,000 | 2,045,000 | ||
MidCarolina [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Core deposit intangible | 1,839,000 | |||
Amortization period of intangible | 120 months | |||
Community First [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Core deposit intangible | 6,556,000 | |||
Amortization period of intangible | 108 months | |||
MainStreet BankShares, Inc. [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Core deposit intangible | $3,112,000 | |||
Amortization period of intangible | 99 months |
Shortterm_Borrowings_Details
Short-term Borrowings (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Short-term Borrowings [Abstract] | ||
Customer repurchase agreements | $53,664 | $53,480 |
FHLB overnight borrowings | 0 | 0 |
Short-term borrowings, Total | $53,664 | $53,480 |
Longterm_Borrowings_Details
Long-term Borrowings (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2014 | |
Long-term Borrowings [Abstract] | ||||
Percentage of entity's assets equal to line of credit facility (in hundredths) | 30.00% | |||
Collateral pledged under blanket floating lien agreement | $405,936,000 | |||
Long term advances with federal home loan bank [Abstract] | ||||
Advance Amount | 9,941,000 | 9,935,000 | ||
Weighted Average Rate (in hundredths) | 2.98% | 2.98% | ||
Valuation allowance, net, related to federal home loan bank, advances | 59,000 | |||
Public deposit accounts | 136,218,000 | |||
April 2014 [Member] | ||||
Long term advances with federal home loan bank [Abstract] | ||||
Due by | 31-Mar-14 | |||
Advance Amount | 0 | |||
Weighted Average Rate (in hundredths) | 0.00% | |||
November 2017 [Member] | ||||
Long term advances with federal home loan bank [Abstract] | ||||
Due by | 30-Nov-17 | 30-Nov-17 | ||
Advance Amount | 9,941,000 | 9,935,000 | ||
Weighted Average Rate (in hundredths) | 2.98% | 2.98% | ||
Federal Home Loan Bank Advances [Member] | ||||
Long term advances with federal home loan bank [Abstract] | ||||
Collateral for deposits | 70,000,000 | |||
US government and agency securities [Member] | ||||
Long term advances with federal home loan bank [Abstract] | ||||
Collateral for deposits | $116,655,000 |
Trust_Preferred_Capital_Notes_1
Trust Preferred Capital Notes, Debt Items (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Jul. 01, 2011 | Dec. 31, 2014 |
MidCarolina I [Member] | |||
Debt Instrument [Line Items] | |||
Valuation allowance associated with junior subordinated debenture | $987 | $1,197 | |
MidCarolina II [Member] | |||
Debt Instrument [Line Items] | |||
Valuation allowance associated with junior subordinated debenture | 850 | 1,021 | |
MidCarolina Trust [Member] | |||
Debt Instrument [Line Items] | |||
Principal Amount | 8,764 | ||
Junior Subordinated Debt Securities [Member] | |||
Debt Instrument [Line Items] | |||
Principal Amount | 27,546 | 27,521 | |
Junior Subordinated Debt Securities [Member] | AMNB Trust I [Member] | |||
Debt Instrument [Line Items] | |||
Date Issued | 7-Apr-06 | ||
Interest Rate | Libor plus 1.35% | ||
Variable Rate Basis | Libor plus | ||
Basis Spread on Variable Rate (in hundredths) | 1.35% | ||
Maturity Date | 30-Jun-36 | ||
Principal Amount | 20,619 | 20,619 | |
Junior Subordinated Debt Securities [Member] | MidCarolina I [Member] | |||
Debt Instrument [Line Items] | |||
Date Issued | 29-Oct-02 | ||
Interest Rate | Libor plus 3.45% | ||
Variable Rate Basis | Libor plus | ||
Basis Spread on Variable Rate (in hundredths) | 3.45% | ||
Maturity Date | 7-Nov-32 | ||
Principal Amount | 4,168 | 4,154 | |
Junior Subordinated Debt Securities [Member] | MidCarolina II [Member] | |||
Debt Instrument [Line Items] | |||
Date Issued | 3-Dec-03 | ||
Interest Rate | Libor plus 2.95% | ||
Variable Rate Basis | Libor plus | ||
Basis Spread on Variable Rate (in hundredths) | 2.95% | ||
Maturity Date | 7-Oct-33 | ||
Principal Amount | $2,759 | $2,748 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Stock-Based Compensation [Abstract] | |||
Maximum number of common stock authorizes for issuance (in shares) | 500,000 | ||
Option Shares [Abstract] | |||
Outstanding at beginning of period (in shares) | 110,947 | ||
Granted (in shares) | 0 | ||
Exercised (in shares) | 9,175 | ||
Forfeited (in shares) | 0 | ||
Expired (in shares) | 0 | ||
Outstanding at end of period (in shares) | 144,858 | 110,947 | |
Exercisable at end of period (in shares) | 144,858 | ||
Business Combinations Options Acquired | 43,086 | ||
Weighted Average Exercise Price [Abstract] | |||
Outstanding at beginning of period (in dollars per share) | $26.08 | ||
Business Combination Options Acquired (per share) | $20.02 | ||
Granted (in dollars per share) | $0 | ||
Exercised (in dollars per share) | $17.63 | ||
Forfeited (in dollars per share) | $0 | ||
Expired (in dollars per share) | $0 | ||
Outstanding at end of period (in dollars per share) | $24.81 | $26.08 | |
Exercisable at end of period (in dollars per share) | $24.81 | ||
Weighted Average Remaining Contractual Term [Abstract] | |||
Outstanding at end of period | 2 years 0 months 29 days | ||
Exercisable at end of period | 2 years 0 months 29 days | ||
Aggregate Intrinsic Value [Abstract] | |||
Outstanding at end of period | $164,000 | ||
Exercisable at end of period | 164,000 | ||
Unrecognized compensation expense | 0 | ||
Weighted Average Grant Date Fair Value [Roll Forward] | |||
Regular quarterly retainer director could receive in cash | 1,000 | ||
Regular quarterly retainer if restricted stock vested | 1,563 | ||
Monthly meeting fees a director could receive in cash | 600 | ||
Monthly meeting fees a director could receive if restricted stock vested | 750 | ||
Number of directors elected to receive stock in lieu of cash | 13 | ||
Restricted Stock [Member] | |||
Shares [Roll Forward] | |||
Nonvested at beginning of period (in shares) | 41,562 | ||
Granted (in shares) | 16,649 | ||
Vested (in shares) | 15,536 | ||
Forfeited (in shares) | 0 | ||
Nonvested at end of period (in shares) | 42,675 | 41,562 | |
Weighted Average Grant Date Fair Value [Roll Forward] | |||
Nonvested at end of period (in dollars per share) | $21.39 | ||
Granted (in dollars per share) | $12.92 | ||
Vested (in dollars per share) | $19.51 | ||
Forfeited (in dollars per share) | $0 | ||
Nonvested at end of period (in dollars per share) | $18.77 | $21.39 | |
Unrecognized compensation expense | 594,000 | 327,000 | |
Weighted average period for recognition of unrecognized compensation cost | 1 year 9 months 7 days | ||
Share based compensation expense | 93,000 | 70,000 | |
Number of shares issued (in shares) | 2,812 | 3,002 | |
Recognized share based compensation expense | $155,000 | $96,000 | |
Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum vesting period of granted restricted stock | 36 months | ||
Restricted Stock [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum vesting period of granted restricted stock | 24 months |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Shares [Abstract] | |||
Basic earnings per share (in shares) | 8,723,633 | 7,904,759 | |
Effect of dilutive securities - stock options (in shares) | 9,046 | 12,842 | |
Diluted earnings per share (in shares) | 8,732,679 | 7,917,601 | 7,917,601 |
Per Share Amount [Abstract] | |||
Basic earnings per share (in dollars per share) | $0.40 | $0.44 | |
Effect of dilutive securities - stock options (in dollars per share) | $0 | $0 | |
Diluted earnings per share (in dollars per share) | $0.40 | $0.44 | $0.44 |
Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities not included in computation of earning per share (in shares) | 79,726 | 110,542 |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Components of Net Periodic Benefit Cost [Abstract] | ||
Service cost | $0 | $0 |
Interest cost | 74 | 76 |
Expected return on plan assets | -115 | -117 |
Recognized net actuarial loss | 154 | 18 |
Net periodic benefit cost | $113 | ($23) |
Segment_and_Related_Informatio2
Segment and Related Information (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jan. 01, 2015 | Dec. 31, 2014 |
Segment | ||||
Segment and Related Information [Abstract] | ||||
Number of reportable segments | 2 | |||
Segment Reporting Information [Line Items] | ||||
Interest income | $13,839 | $11,954 | ||
Interest expense | 1,461 | 1,495 | ||
Noninterest income | 3,156 | 2,703 | ||
Operating income (loss) before income taxes | 4,887 | 4,739 | ||
Net income (loss) | 3,515 | 3,450 | ||
Depreciation and amortization | 741 | 765 | ||
Total assets | 1,540,098 | 1,299,802 | 1,346,492 | |
Capital expenditures | 348 | 119 | ||
Goodwill | 44,210 | 39,043 | 5,167 | 39,043 |
Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 13,824 | 11,939 | ||
Interest expense | 1,277 | 1,311 | ||
Noninterest income | 1,983 | 1,431 | ||
Operating income (loss) before income taxes | 4,507 | 4,071 | ||
Net income (loss) | 3,225 | 2,949 | ||
Depreciation and amortization | 738 | 762 | ||
Total assets | 1,537,939 | 1,297,729 | ||
Capital expenditures | 348 | 119 | ||
Goodwill | 44,210 | 39,043 | ||
Trust and Investment Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 0 | 0 | ||
Interest expense | 0 | 0 | ||
Noninterest income | 1,168 | 1,267 | ||
Operating income (loss) before income taxes | 650 | 874 | ||
Net income (loss) | 468 | 637 | ||
Depreciation and amortization | 3 | 3 | ||
Total assets | 0 | 0 | ||
Capital expenditures | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 15 | 15 | ||
Interest expense | 184 | 184 | ||
Noninterest income | 5 | 5 | ||
Operating income (loss) before income taxes | -270 | -206 | ||
Net income (loss) | -178 | -136 | ||
Depreciation and amortization | 0 | 0 | ||
Total assets | 224,313 | 198,011 | ||
Capital expenditures | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 0 | 0 | ||
Interest expense | 0 | 0 | ||
Noninterest income | 0 | 0 | ||
Operating income (loss) before income taxes | 0 | 0 | ||
Net income (loss) | 0 | 0 | ||
Depreciation and amortization | 0 | 0 | ||
Total assets | -222,154 | -195,938 | ||
Capital expenditures | 0 | 0 | ||
Goodwill | $0 | $0 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Securities available for sale [Abstract] | ||
Securities available for sale | $352,208 | $344,716 |
Federal agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 78,887 | 82,106 |
Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 64,849 | 57,425 |
State and municipal [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 198,200 | 195,493 |
Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 8,907 | 8,379 |
Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 1,365 | 1,313 |
Recurring [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 344,716 | |
Recurring [Member] | Federal agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 78,887 | 82,106 |
Recurring [Member] | Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 64,849 | 57,425 |
Recurring [Member] | State and municipal [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 198,200 | 195,493 |
Recurring [Member] | Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 8,907 | 8,379 |
Recurring [Member] | Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 1,365 | 1,313 |
Recurring [Member] | Convertible Preferred Stock [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 352,208 | |
Nonrecurring [Member] | ||
Assets non-recurring [Abstract] | ||
Loans held for sale | 1,936 | 616 |
Impaired loans, net of valuation allowance | 2,036 | 1,705 |
Other real estate owned | 2,653 | 2,119 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 4,167 |
Assets non-recurring [Abstract] | ||
Loans held for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 4,167 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | Federal agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 2,995 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | State and municipal [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 1,172 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Recurring [Member] | Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Nonrecurring [Member] | ||
Assets non-recurring [Abstract] | ||
Loans held for sale | 0 | 0 |
Impaired loans, net of valuation allowance | 0 | 0 |
Other real estate owned | 0 | 0 |
Significant Other Observable Inputs, Level 2 [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 350,843 | 339,236 |
Assets non-recurring [Abstract] | ||
Loans held for sale | 1,936 | 616 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 350,843 | 339,236 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | Federal agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 78,887 | 79,111 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 64,849 | 57,425 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | State and municipal [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 198,200 | 194,321 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 8,907 | 8,379 |
Significant Other Observable Inputs, Level 2 [Member] | Recurring [Member] | Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Significant Other Observable Inputs, Level 2 [Member] | Nonrecurring [Member] | ||
Assets non-recurring [Abstract] | ||
Loans held for sale | 1,936 | 616 |
Impaired loans, net of valuation allowance | 0 | 0 |
Other real estate owned | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 1,365 | 1,313 |
Assets non-recurring [Abstract] | ||
Loans held for sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 1,365 | 1,313 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | Federal agencies and GSEs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | Mortgage-backed and CMOs [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | State and municipal [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | Corporate [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Recurring [Member] | Equity Securities [Member] | ||
Securities available for sale [Abstract] | ||
Securities available for sale | 1,365 | 1,313 |
Significant Unobservable Inputs, Level 3 [Member] | Nonrecurring [Member] | ||
Assets non-recurring [Abstract] | ||
Loans held for sale | 0 | 0 |
Impaired loans, net of valuation allowance | 2,036 | 1,705 |
Other real estate owned | $2,653 | $2,119 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments (1) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair value measurements using significant unobservable inputs (Level 3) [Rollforward] | ||
Total Realized / Unrealized Gains (Losses) Included in Net Income | 0 | |
Total Realized / Unrealized Gains (Losses) Included in Other Comprehensive Income | 52 | |
Purchases, Sales, Issuances and Settlements, Net | 0 | |
Transfer In (Out) of Level 3 | 0 | |
Balances, end of period | 1,365 | 1,313 |
Securities available-for-sale [Member] | Discounted Appraised Value [Member] | ||
Fair Value Inputs, Quantitative Information [Abstract] | ||
Selling cost (in hundredths) | 37.00% | |
Securities available-for-sale [Member] | Discounted Cash Flow Analysis [Member] | ||
Fair Value Inputs, Quantitative Information [Abstract] | ||
Discount rate (in hundredths) | 31.00% | |
Impaired Loans [Member] | Discounted Appraised Value [Member] | ||
Fair Value Inputs, Quantitative Information [Abstract] | ||
Selling cost (in hundredths) | 6.00% | 6.00% |
Other Real Estate Owned [Member] | Discounted Appraised Value [Member] | ||
Fair Value Inputs, Quantitative Information [Abstract] | ||
Selling cost (in hundredths) | 6.00% | |
Corporate [Member] | ||
Fair value measurements using significant unobservable inputs (Level 3) [Rollforward] | ||
Total Realized / Unrealized Gains (Losses) Included in Net Income | 0 | |
Total Realized / Unrealized Gains (Losses) Included in Other Comprehensive Income | 0 | |
Purchases, Sales, Issuances and Settlements, Net | 0 | |
Transfer In (Out) of Level 3 | 0 | |
Balances, end of period | 0 | 0 |
Equity Securities [Member] | ||
Fair value measurements using significant unobservable inputs (Level 3) [Rollforward] | ||
Total Realized / Unrealized Gains (Losses) Included in Net Income | 0 | |
Total Realized / Unrealized Gains (Losses) Included in Other Comprehensive Income | 52 | |
Purchases, Sales, Issuances and Settlements, Net | 0 | |
Transfer In (Out) of Level 3 | 0 | |
Balances, end of period | 1,365 | 1,313 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments (2) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financial Assets [Abstract] | ||
Securities available for sale | $352,208 | $344,716 |
Carrying Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 112,865 | 67,303 |
Securities available for sale | 352,208 | 344,716 |
Restricted Stock | 5,231 | 4,534 |
Loans held for sale | 1,936 | 616 |
Loans, net of allowance | 953,058 | 828,498 |
Bank owned life insurance | 17,261 | 15,193 |
Accrued interest receivable | 4,734 | 4,534 |
Financial Liabilities [Abstract] | ||
Deposits | 1,242,675 | 1,075,837 |
Repurchase agreements | 53,664 | 53,480 |
Other borrowings | 9,941 | 9,935 |
Trust preferred capital notes | 27,546 | 27,521 |
Accrued interest payable | 638 | 587 |
Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 112,865 | 67,303 |
Securities available for sale | 352,208 | 344,716 |
Restricted Stock | 5,231 | 4,534 |
Loans held for sale | 1,936 | 616 |
Loans, net of allowance | 960,088 | 832,708 |
Bank owned life insurance | 17,261 | 15,193 |
Accrued interest receivable | 4,734 | 4,534 |
Financial Liabilities [Abstract] | ||
Deposits | 1,235,829 | 1,077,329 |
Repurchase agreements | 53,664 | 53,480 |
Other borrowings | 10,473 | 10,432 |
Trust preferred capital notes | 22,751 | 22,009 |
Accrued interest payable | 638 | 587 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 112,865 | 67,303 |
Securities available for sale | 0 | 4,167 |
Restricted Stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net of allowance | 0 | 0 |
Bank owned life insurance | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial Liabilities [Abstract] | ||
Deposits | 0 | 0 |
Repurchase agreements | 0 | 0 |
Other borrowings | 0 | 0 |
Trust preferred capital notes | 0 | 0 |
Accrued interest payable | 0 | 0 |
Significant Other Observable Inputs, Level 2 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 350,843 | 339,236 |
Restricted Stock | 5,231 | 4,534 |
Loans held for sale | 1,936 | 616 |
Loans, net of allowance | 0 | 0 |
Bank owned life insurance | 17,261 | 15,193 |
Accrued interest receivable | 4,734 | 4,534 |
Financial Liabilities [Abstract] | ||
Deposits | 823,349 | 712,019 |
Repurchase agreements | 53,664 | 53,480 |
Other borrowings | 0 | 0 |
Trust preferred capital notes | 0 | 0 |
Accrued interest payable | 638 | 587 |
Significant Unobservable Inputs, Level 3 [Member] | ||
Financial Assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 1,365 | 1,313 |
Restricted Stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net of allowance | 960,088 | 832,708 |
Bank owned life insurance | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial Liabilities [Abstract] | ||
Deposits | 412,480 | 365,310 |
Repurchase agreements | 0 | 0 |
Other borrowings | 10,473 | 10,432 |
Trust preferred capital notes | 22,751 | 22,009 |
Accrued interest payable | $0 | $0 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Jan. 01, 2015 | Dec. 31, 2013 |
Supplemental Schedule of Cash and Cash Equivalents [Abstract] | |||||
Cash and due from banks | $23,995 | $25,880 | $29,272 | ||
Interest-bearing deposits in other banks | 75,254 | 45,466 | 38,031 | ||
Federal Funds Sold | 13,616 | 0 | 0 | ||
Cash and Cash Equivalents | 112,865 | 71,346 | 67,303 | 67,681 | |
Cash paid for [Abstract] | |||||
Interest on deposits and borrowed funds | 1,410 | 1,538 | |||
Income taxes | 0 | 0 | |||
Noncash investing and financing activities [Abstract] | |||||
Transfer of loans to other real estate owned | -677 | 18 | |||
Unrealized loss on securities available for sale | 925 | 1,770 | |||
Business combination, identifiable assets acquired [Abstract] | |||||
Business combination fair value of identifiable assets, investment securities | 18,800 | 0 | 18,800 | ||
Business combination fair value of identifiable assets, restricted stock | 738 | 0 | 738 | ||
Business Combination Loans Net of Unearned Income | 114,902 | 0 | 114,902 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 1,475 | 0 | 1,475 | ||
Business combination fair value of identifiable assets, deferred income taxes | 2,683 | 0 | 2,683 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,839 | 0 | 1,839 | ||
Business combination fair value of identifiable assets, other real estate owned | 168 | 0 | 168 | ||
Business Combination Bank Owned Life Insurance | 1,955 | 0 | 1,955 | ||
Business combination fair value of identifiable other assets | 917 | 0 | 917 | ||
Business combination, liabilities assumed [Abstract] | |||||
Business combination recognized liabilities assumed, deposits | 137,323 | 0 | 137,323 | ||
Business combination recognized other liabilities assumed | 3,076 | 0 | 3,076 | ||
Business Combination, Consideration Transferred [Abstract] | |||||
Business Acquisition Purchase Price Consideration Common Share Issued, Value | $20,483 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning, balance | $3,664 | $2,520 | ||
Net unrealized losses on securities available for sale, net of tax | 802 | 1,176 | ||
Reclassification adjustment for gains on securities, net of tax | -201 | -25 | ||
Ending, balance | 4,265 | 3,671 | 3,664 | 2,520 |
Net unrealized losses on securities available for sale, tax | 432 | 633 | ||
Reclassification adjustment for gains on securities, tax | -109 | -14 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Securities gains, net | 310 | 39 | ||
Income Taxes | 1,372 | 1,289 | ||
Net income | 3,515 | 3,450 | ||
Net Unrealized (Loss) on Securities [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning, balance | 3,578 | 5,845 | ||
Net unrealized losses on securities available for sale, net of tax | 802 | 1,176 | ||
Reclassification adjustment for gains on securities, net of tax | -201 | -25 | ||
Ending, balance | 6,446 | 4,729 | 5,845 | |
Net Unrealized (Loss) on Securities [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Securities gains, net | 310 | 39 | ||
Income Taxes | -109 | -14 | ||
Net income | 201 | 25 | ||
Adjustment related to Pension Benefits [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning, balance | -2,181 | -1,058 | ||
Net unrealized losses on securities available for sale, net of tax | 0 | 0 | ||
Reclassification adjustment for gains on securities, net of tax | 0 | 0 | ||
Ending, balance | ($2,181) | ($1,058) | ($2,181) | ($1,058) |
Uncategorized_Items
Uncategorized Items | ||||
[us-gaap_StockholdersEquity] | 3,664,000 | 57,650,000 | 7,872,000 | 104,594,000 |