Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 03, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | BAR HARBOR BANKSHARES | |
Entity Central Index Key | 743,367 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 5,989,262 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and cash equivalents | $ 17,038 | $ 9,800 |
Securities available for sale, at fair value (amortized cost of $472,903 and $458,370, respectively) | 480,138 | 470,525 |
Federal Home Loan Bank stock | 23,593 | 21,354 |
Loans | 983,244 | 919,024 |
Allowance for loan losses | (9,099) | (8,969) |
Loans, net of allowance for loan losses | 974,145 | 910,055 |
Premises and equipment, net | 20,970 | 20,518 |
Goodwill | 4,935 | 4,935 |
Bank owned life insurance | 23,411 | 8,141 |
Other assets | 15,779 | 13,992 |
TOTAL ASSETS | 1,560,009 | 1,459,320 |
Deposits: | ||
Demand and other non-interest bearing deposits | 72,799 | 78,802 |
NOW accounts | 142,090 | 153,499 |
Savings and money market deposits | 244,151 | 247,685 |
Time deposits | 431,076 | 378,063 |
Total deposits | 890,116 | 858,049 |
Short-term borrowings | 372,274 | 313,520 |
Long-term advances from Federal Home Loan Bank | 136,890 | 128,500 |
Junior subordinated debentures | 5,000 | 5,000 |
Other liabilities | 7,073 | 7,964 |
TOTAL LIABILITIES | 1,411,353 | 1,313,033 |
Shareholders' equity | ||
Capital stock, par value $2.00; authorized 20,000,000 and 10,000,000 shares; issued 6,788,407 shares at June 30, 2015 and December 31, 2014, respectively | 13,577 | 13,577 |
Surplus | 21,131 | 20,905 |
Retained earnings | 117,950 | 113,149 |
Accumulated other comprehensive income: | ||
Prior service cost and unamortized net actuarial losses on employee benefit plans, net of tax of ($28) and ($29), at March 31, 2011 and December 31, 2010, respectively | (475) | (488) |
Net unrealized appreciation (depreciation) on securities available for sale, net of tax of $2,267 and $3,997, at June 30, 2015 and December 31, 2014, respectively | 4,212 | 7,423 |
Portion of OTTI attributable to non-credit gains, net of tax of $265 and $257, at June 30, 2015 and December 31, 2014, respectively | 491 | 478 |
Net unrealized appreciation on derivative instruments, net of tax of $476 and $389, at June 30, 2015 and December 31, 2014, respectively | (884) | (722) |
Total accumulated other comprehensive income (loss) | 3,344 | 6,691 |
Less: cost of 803,451 and 842,082 shares of treasury stock at June 30, 2015 and December 31, 2014, respectively | (7,346) | (8,035) |
TOTAL SHAREHOLDERS' EQUITY | 148,656 | 146,287 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 1,560,009 | $ 1,459,320 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Consolidated Balance Sheets [Abstract] | ||
Securities available for sale, amortized cost | $ 472,903 | $ 458,370 |
Capital stock, par value | $ 2 | $ 2 |
Capital stock, shares authorized | 20,000,000 | 10,000,000 |
Capital stock, shares issued | 6,788,407 | 6,788,407 |
Prior service cost and unamortized net actuarial losses on employee benefit plans, tax | $ 256 | $ 251 |
Net unrealized appreciation on securities available for sale, tax | 2,267 | 3,997 |
Portion of OTTI attributable to non-credit losses, tax | 265 | 257 |
Net unrealized appreciation on derivative instruments, tax | $ 476 | $ 389 |
Treasury stock, shares | 803,451 | 842,082 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 9,645 | $ 9,205 | $ 19,322 | $ 18,269 |
Interest on securities | 3,732 | 4,077 | 7,494 | 7,985 |
Dividend on FHLB stock | 95 | 69 | 189 | 138 |
Total interest and dividend income | 13,472 | 13,351 | 27,005 | 26,392 |
Interest expense: | ||||
Deposits | 1,460 | 1,462 | 2,913 | 2,899 |
Short-term borrowings | 253 | 156 | 492 | 280 |
Long-term debt | 873 | 869 | 1,716 | 1,790 |
Total interest expense | 2,586 | 2,487 | 5,121 | 4,969 |
Net interest income | 10,886 | 10,864 | 21,884 | 21,423 |
Provision for loan losses | 400 | 428 | 895 | 885 |
Net interest income after provision for loan losses | 10,486 | 10,436 | 20,989 | 20,538 |
Non-interest income: | ||||
Trust and other financial services | 985 | 1,102 | 1,930 | 2,074 |
Service charges on deposit accounts | 255 | 276 | 453 | 502 |
Debit card income | 402 | 376 | 768 | 720 |
Net securities gains | 587 | 350 | 1,206 | 747 |
Other operating income | 274 | 189 | 488 | 366 |
Total non-interest income | 2,503 | 2,293 | 4,845 | 4,409 |
Non-interest expense: | ||||
Salaries and employee benefits | 4,269 | 4,283 | 8,621 | 8,199 |
Occupancy expense | 567 | 544 | 1,147 | 1,108 |
Furniture and equipment expense | 580 | 524 | 1,145 | 1,037 |
Debit card expenses | 112 | 100 | 208 | 197 |
FDIC insurance assessments | 210 | 175 | 411 | 365 |
Other operating expense | 1,863 | 1,735 | 3,402 | 3,301 |
Total non-interest expense | 7,601 | 7,361 | 14,934 | 14,207 |
Income before income taxes | 5,388 | 5,368 | 10,900 | 10,740 |
Income taxes | 1,515 | 1,511 | 3,146 | 3,096 |
Net income | $ 3,873 | $ 3,857 | $ 7,754 | $ 7,644 |
Per Common Share Data: | ||||
Basic earnings per share | $ 0.65 | $ 0.65 | $ 1.30 | $ 1.29 |
Diluted earnings per share | $ 0.64 | $ 0.65 | $ 1.28 | $ 1.28 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
Net income | $ 3,873 | $ 3,857 | $ 7,754 | $ 7,644 |
Other comprehensive income: | ||||
Net unrealized (depreciation) appreciation on securities available for sale, net of tax | (4,288) | 5,635 | (2,414) | 11,547 |
Less reclassification adjustment for net gains related to securities available for sale included in net income, net of tax | (382) | (231) | (784) | (493) |
Net unrealized (depreciation) appreciation on interest rate derivatives, net of tax | 227 | 49 | (162) | 49 |
Actuarial (loss) gain on supplemental executive retirement plan, net of related tax | 6 | 4 | 13 | 9 |
Total other comprehensive (loss) income | (4,437) | 5,457 | (3,347) | 11,112 |
Total comprehensive (loss) income | $ (564) | $ 9,314 | $ 4,407 | $ 18,756 |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
Net unrealized (depreciation) appreciation on securities available for sale, tax | $ (2,308) | $ 2,903 | $ (1,299) | $ 5,948 |
Reclassification adjustment for net gains related to securities available for sale included in net income, tax | (205) | (119) | (422) | (254) |
Net unrealized appreciation on interest rate derivatives, tax | 122 | 25 | (87) | 25 |
Actuarial (loss) gain on supplemental executive retirement plan, net of related tax | $ 3 | $ 2 | $ (5) | $ 5 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Capital Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2013 | $ 9,051 | $ 25,085 | $ 103,907 | $ (7,940) | $ (8,724) | $ 121,379 |
Net income | 7,644 | 7,644 | ||||
Total other comprehensive income | 11,112 | 11,112 | ||||
Dividend declared: | ||||||
Common stock | (2,602) | (2,602) | ||||
Purchase of treasury stock | (8) | (8) | ||||
Stock options exercised, including related tax effects | $ 19 | (8) | 312 | 323 | ||
Three-for-two stock split | 4,526 | (4,526) | ||||
Recognition of stock based compensation expense | $ 167 | 167 | ||||
Restricted stock grants | (53) | 53 | ||||
Balance at Jun. 30, 2014 | $ 13,577 | 20,692 | 108,941 | 3,172 | (8,367) | 138,015 |
Balance at Dec. 31, 2014 | 13,577 | 20,905 | 113,149 | 6,691 | (8,035) | 146,287 |
Net income | 7,754 | 7,754 | ||||
Total other comprehensive income | (3,347) | (3,347) | ||||
Dividend declared: | ||||||
Common stock | (2,952) | (2,952) | ||||
Purchase of treasury stock | (8) | (8) | ||||
Stock options exercised, including related tax effects | 99 | (1) | 633 | 731 | ||
Recognition of stock based compensation expense | 191 | 191 | ||||
Restricted stock grants | (64) | 64 | ||||
Balance at Jun. 30, 2015 | $ 13,577 | $ 21,131 | $ 117,950 | $ 3,344 | $ (7,346) | $ 148,656 |
Consolidated Statements Of Cha8
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) | 6 Months Ended | |
Jun. 30, 2015$ / sharesshares | Jun. 30, 2014$ / sharesshares | |
Consolidated Statements Of Changes In Shareholders' Equity [Abstract] | ||
Common stock dividends, per share | $ / shares | $ 0.495 | $ 0.44 |
Purchase of treasury stock, shares | 221 | 327 |
Stock options exercised, shares | 35,312 | 16,923 |
Restricted stock grants, shares | 3,540 | 2,878 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 7,754 | $ 7,644 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
Depreciation and amortization of premises and equipment | 861 | 799 |
Amortization of core deposit intangible | 46 | 47 |
Provision for loan losses | 895 | 885 |
Net securities gains | (1,206) | (747) |
Net amortization of bond premiums and discounts | 1,302 | 1,393 |
Recognition of stock based expense | 191 | 98 |
Gain on sale of other real estate owned | (64) | |
Net change in other assets | (15,576) | (3,252) |
Net change in other liabilities | (891) | (515) |
Net cash (used in) provided by operating activities | (6,688) | 6,352 |
Cash flows from investing activities: | ||
Purchases of securities available for sale | (89,314) | (62,236) |
Proceeds from maturities, calls and principal paydowns of mortgage-backed securities | 54,257 | 28,483 |
Proceeds from sales of securities available for sale | 20,428 | 22,221 |
Net increase in Federal Home Loan Bank stock | (2,239) | (2,826) |
Net loans made to customers | (64,985) | (49,008) |
Proceeds from sale of other real estate owned | 110 | 44 |
Capital expenditures | (1,313) | (1,063) |
Net cash used in investing activities | (83,056) | (64,385) |
Cash flows from financing activities: | ||
Net increase in deposits | 32,067 | 1,320 |
Net increase (decrease) in securities sold under repurchase agreements and fed funds purchased | 11,654 | (6,688) |
Proceeds from Federal Home Loan Bank advances | 66,493 | 89,200 |
Repayments of Federal Home Loan Bank advances | (11,003) | (20,990) |
Purchases of treasury stock | (8) | (8) |
Proceeds from stock option exercises, including excess tax benefits | 731 | 323 |
Restricted stock grant | 69 | |
Payments of dividends | (2,952) | (2,602) |
Net cash provided by financing activities | 96,982 | 60,624 |
Net increase in cash and cash equivalents | 7,238 | 2,591 |
Cash and cash equivalents at beginning of period | 9,800 | 9,200 |
Cash and cash equivalents at end of period | 17,038 | 11,791 |
Supplemental disclosures of cash flow information: | ||
Interest | 5,146 | 4,986 |
Income taxes | $ 2,495 | 2,885 |
Schedule of noncash investing activities: | ||
Transfers from loans to other real estate owned | $ 320 |
Basis Of Presentation
Basis Of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1: Basis of Presentation The accompanying consolidated interim financial statements are unaudited. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All inter-company transactions have been eliminated in consolidation. Amounts in the prior period financial statements are reclassified whenever necessary to conform to current period presentation. The net income reported for the three and six months ended June 30, 2015, is not necessarily indicative of the results that may be expected for the year ending December 31, 2015, or any other interim periods. The consolidated balance sheet at December 31, 2014, has been derived from audited consolidated financial statements at that date. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X (17 CFR Part 210). Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. For further information, please refer to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and notes thereto. |
Management's Use Of Estimates
Management's Use Of Estimates | 6 Months Ended |
Jun. 30, 2015 | |
Management's Use Of Estimates [Abstract] | |
Management's Use Of Estimates | Note 2: Management's Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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, other-than-temporary impairments on securities, income tax estimates, and the valuation of intangible assets. Allowance for Loan Losses: The allowance for loan losses (the "allowance") is a significant accounting estimate used in the preparation of the Company's consolidated financial statements. The allowance is available to absorb losses on loans and is maintained at a level that, in management's judgment, is appropriate for the amount of risk inherent in the loan portfolio, given past and present conditions. The allowance is increased by provisions charged to operating expense and by recoveries on loans previously charged-off, and is decreased by loans charged-off as uncollectible. Arriving at an appropriate level of allowance involves a high degree of judgment. The determination of the adequacy of the allowance and provisioning for estimated losses is evaluated regularly based on a review of loans, with particular emphasis on non-performing or other loans that management believes warrant special consideration. The ongoing evaluation process includes a formal analysis, which considers among other factors: the nature of the loan portfolios, business and economic conditions, real estate market conditions, collateral values, changes in product offerings or loan terms, loan growth, experience, ability, and depth of management, changes in underwriting and/or collection policies and procedures, changes in volumes of loan portfolios and speed of loan portfolio growth, concentrations to industries or individual borrowers, external factors including industry or regulatory changes, historical charge-off experience, delinquency trends, non-performing loan trends, the performance of individual loans in relation to contract terms, loan loss emergence periods, and estimated fair values of collateral. The allowance consists of allowances established for specific loans including impaired loans; pools of loans based on historical charge-offs by loan types; and supplemental allowances that adjust historical loss experience to reflect current economic conditions, industry specific risks, and other observable data. While management uses available information to recognize losses on loans, changing economic conditions and the economic prospects of the borrowers may necessitate future additions or reductions to the allowance. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance, which also may necessitate future additions or reductions to the allowance, based on information available to them at the time of their examination. Other-Than-Temporary Impairments on Investment Securities : One of the significant estimates relating to securities is the evaluation of other-than-temporary impairment ("OTTI"). If a decline in the fair value of a security is judged to be other-than-temporary, and management does not intend to sell the security and believes it is more-likely-than-not the Company will not be required to sell the security prior to recovery of cost or amortized cost, the portion of the total impairment attributable to the credit loss is recognized in earnings, and the remaining difference between the security's amortized cost basis and its fair value is included in other comprehensive income. For impaired available for sale debt securities that management intends to sell, or where management believes it is more-likely-than-not that the Company will be required to sell, an OTTI charge is recognized in earnings equal to the difference between fair value and cost or amortized cost basis of the security. The fair value of the OTTI security becomes its new cost basis. The evaluation of securities for impairments is a quantitative and qualitative process, which is subject to risks and uncertainties and is intended to determine whether declines in the fair value of securities should be recognized in current period earnings. The risks and uncertainties include changes in general economic conditions, the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads and the expected recovery period of unrealized losses. The Company has a security monitoring process that identifies securities that, due to certain characteristics, as described below, are subjected to an enhanced analysis on a quarterly basis. Securities that are in an unrealized loss position are reviewed at least quarterly to determine if an OTTI is present based on certain quantitative and qualitative factors and measures. The primary factors considered in evaluating whether a decline in value of securities is other-than-temporary include: (a) the cause of the impairment; (b) the financial condition, credit rating and future prospects of the issuer; (c) whether the debtor is current on contractually obligated interest and principal payments; (d) the volatility of the securities' fair value; (e) performance indicators of the underlying assets in the security including default rates, delinquency rates, percentage of non-performing assets, loan to collateral value ratios, conditional payment rates, third party guarantees, current levels of subordination, vintage, and geographic concentration and; (f) any other information and observable data considered relevant in determining whether an OTTI has occurred, including the expectation of the receipt of all principal and interest due. In addition, for securitized financial assets with contractual cash flows, such as private label mortgage-backed securities ("MBS"), the Company periodically updates its best estimate of cash flows over the life of the security. The Company's best estimate of cash flows is based upon assumptions consistent with the current economic environment, similar to those the Company believes market participants would use. If the fair value of a securitized financial asset is less than its cost or amortized cost and there has been an adverse change in timing or amount of anticipated future cash flows since the last revised estimate to the extent that the Company does not expect to receive the entire amount of future contractual principal and interest, an OTTI charge is recognized in earnings representing the estimated credit loss if management does not intend to sell the security and believes it is more-likely-than-not the Company will not be required to sell the security prior to recovery of cost or amortized cost. Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third party sources along with certain assumptions and judgments regarding the future performance of the underlying collateral. In addition, projections of expected future cash flows may change based upon new information regarding the performance of the underlying collateral. Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. If current available information indicates that it is more-likely-than-not that deferred tax assets will not be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Significant management judgment is required in determining income tax expense and deferred tax assets and liabilities. As of June 30, 2015, and December 31, 2014, there was no valuation allowance for deferred tax assets. Goodwill and Identifiable Intangible Assets: In connection with acquisitions, the Company generally records as assets on its consolidated financial statements both goodwill and identifiable intangible assets, such as core deposit intangibles. The Company evaluates whether the carrying value of its goodwill has become impaired, in which case the value is reduced through a charge to its earnings. Goodwill is evaluated for impairment at least annually, or upon a triggering event using certain fair value techniques. Goodwill impairment testing is performed at the segment (or "reporting unit") level. Goodwill is assigned to reporting units at the date the goodwill is initially recorded. Once goodwill has been assigned to the reporting units, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or organically grown, are available to support the value of the goodwill. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in accordance with the purchase method of accounting for business combinations. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis or more frequently if an event occurs or circumstances change that reduce the fair value of a reporting unit below its carrying amount. The Company completes its annual goodwill impairment test as of December 31 of each year. The impairment testing process is conducted by assigning assets and goodwill to each reporting unit. Currently, the Company's goodwill is evaluated at the entity level as there is only one reporting unit. The Company first assesses certain qualitative factors to determine if it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value. If it is more-likely-than-not that the fair value of the reporting unit is less than the carrying value, then the fair value of each reporting unit is compared to the recorded book value "step one." If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and "step two" is not considered necessary. If the carrying value of a reporting unit exceeds its fair value, the impairment test continues ("step two") by comparing the carrying value of the reporting unit's goodwill to the implied fair value of goodwill. The implied fair value is computed by adjusting all assets and liabilities of the reporting unit to current fair value with the offset adjustment to goodwill. The adjusted goodwill balance is the implied fair value of the goodwill. An impairment charge is recognized if the carrying fair value of goodwill exceeds the implied fair value of goodwill. At December 31, 2014, there was no indication of impairment that led the Company to believe it needed to perform a two-step test. Any changes in the estimates used by the Company to determine the carrying value of its goodwill, or which otherwise adversely affect their value or estimated lives, would adversely affect the Company's consolidated results of operations. |
Three-for-two Common Stock Spli
Three-for-two Common Stock Split | 6 Months Ended |
Jun. 30, 2015 | |
Three-for-two Common Stock Split [Abstract] | |
Three-for-two Common Stock Split | Note 3: Three-for-two Common Stock Split On April 22, 2014 , the Company's Board of Directors declared a three-for-two split of its common stock, payable as a large stock dividend, which was paid on May 19, 2014 (the "payment date") to all stockholders of record at the close of business on May 5, 2014. As of April 22, 2014, the Company had approximately 3,944,290 5,916,435 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 4: Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company, such as the Company's dilutive stock options and awards. The following is a reconciliation of basic and diluted earnings per share for the three and six months ended June 30, 2015, and 2014: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income available to common shareholders $ 3,873 $ 3,857 $ 7,754 $ 7,644 Weighted average common shares outstanding Basic 5,973,758 5,921,025 5,963,704 5,916,387 Effect of dilutive employee stock options and awards 90,655 39,817 86,418 40,114 Diluted 6,064,413 5,960,842 6,050,122 5,956,501 Anti-dilutive options excluded from earnings per share calculation 10,950 93,093 11,197 97,482 Per Common Share Data: Basic earnings per share $ 0.65 $ 0.65 $ 1.30 $ 1.29 Diluted earnings per share $ 0.64 $ 0.65 $ 1.28 $ 1.28 All share and per share amounts have been adjusted to reflect the effect of the 3-for-2 stock split (dividend) during May 2014. |
Securities Available For Sale
Securities Available For Sale | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Not The following tables summarize the securities available for sale portfolio as of June 30, 2015, and December 31, 2014: June 30, 2015 Gross Gross Amortized Unrealized Unrealized Estimated Available for Sale: Cost Gains Losses Fair Value Mortgage-backed securities: US Government-sponsored enterprises $ 294,017 $ 6,535 $ 2,414 $ 298,138 US Government agency 81,698 1,601 635 82,664 Private label 3,034 745 7 3,772 Obligations of states and political subdivisions thereof 94,154 2,517 1,107 95,564 Total $ 472,903 $ 11,398 $ 4,163 $ 480,138 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Estimated Available for Sale: Cost Gains Losses Fair Value Mortgage-backed securities: US Government-sponsored enterprises $ 282,217 $ 7,530 $ 1,537 $ 288,210 US Government agency 82,249 1,626 529 83,346 Private label 3,723 815 14 4,524 Obligations of states and political subdivisions thereof 90,181 4,516 252 94,445 Total $ 458,370 $ 14,487 $ 2,332 $ 470,525 Securities Maturity Distribution: The following table summarizes the maturity distribution of the amortized cost and estimated fair value of securities available for sale as of June 30, 2015. Actual maturities may differ from the final maturities noted below because issuers may have Amortized Estimated Securities Available for Sale Cost Fair Value Due one year or less $ 8 $ 8 Due after one year through five years 5,530 5,603 Due after five years through ten years 15,602 16,333 Due after ten years 451,763 458,194 Total $ 472,903 $ 480,138 Securities Impairment: As a part of the Company's ongoing security monitoring process, the Company identifies securities in an unrealized loss position that could potentially be other-than-temporarily impaired ("OTTI"). For the three and six months ended June 30, 2015 and 2014, the Company did not have any OTTI losses recognized in earnings (before taxes). Upon initial impairment of a security, total OTTI losses represent the excess of the amortized cost over the fair value. For subsequent impairments of the same security, total OTTI losses represent additional credit losses and or declines in fair value subsequent to the previously recorded OTTI losses, if applicable. Unrealized OTTI losses recognized in accumulated other comprehensive income ("OCI") represent the non-credit component of OTTI losses on debt securities. Net impairment losses recognized in earnings represent the credit component of OTTI losses on debt securities. As of June 30, 2015, the Company held eleven 1,456 eleven 491 478 The OTTI losses previously recognized in earnings represented management's best estimate of credit losses inherent in the securities based on discounted, bond-specific future cash flow projections using assumptions about cash flows associated with the pools of mortgage loans underlying each security. In estimating those cash flows the Company takes a variety of factors into consideration including, but not limited to, loan level credit characteristics, current delinquency and non-performing loan rates, current levels of subordination and credit support, recent default rates and future constant default rate estimates, original and current loan to collateral value ratios, recent collateral loss severities and future collateral loss severity estimates, recent and historical conditional prepayment rates and future conditional prepayment rate assumptions, and other estimates of future collateral performance. Despite elevated levels of delinquencies, defaults and losses in the underlying residential mortgage loan collateral, given credit enhancements resulting from the structures of the individual securities, the Company expects that as of June 30, 2015 it will recover the amortized cost basis of its private label MBS as depicted in the table below and has therefore concluded that such securities were not OTTI as of that date. Nevertheless, given recent market conditions, it is possible that adverse changes in repayment performance and fair value could occur in future periods that would change the Company's current best estimates. The following table displays the beginning balance of OTTI related to historical credit losses on debt securities held by the Company at the beginning of the current reporting period, as well as changes in credit losses recognized in pre-tax earnings for the three and six months ending June 30, 2015, and 2014. 2015 2014 Estimated credit losses as of March 31, $ 3,413 $ 3,413 Additions for credit losses for securities on which OTTI has been previously recognized -- -- Additions for credit losses for securities on which OTTI has not been previously recognized -- -- Reductions for securities paid off during the period 233 -- Estimated credit losses as of June 30, $ 3,180 $ 3,413 2015 2014 Estimated credit losses as of prior year-end, $ 3,413 $ 3,923 Additions for credit losses for securities on which OTTI has been previously recognized -- -- Additions for credit losses for securities on which OTTI has not been previously recognized -- -- Reductions for securities paid off during the period 233 510 Estimated credit losses as of June 30, $ 3,180 $ 3,413 As of June 30, 2015, based on a review of the remaining securities in the securities portfolio, the Company concluded that it expects to recover its amortized cost basis for such securities. This conclusion was based on the issuers' continued satisfaction of the securities obligations in accordance with their contractual terms and the expectation that they will continue to do so through the maturity of the security, the expectation that the Company will receive the entire amount of future contractual cash flows, as well as the evaluation of the fundamentals of the issuers' financial condition and other objective evidence. Accordingly, the Company concluded that any declines in the values of those securities were temporary and that any additional OTTI charges were not appropriate at June 30, 2015. As of that date, the Company did not intend to sell nor anticipated that it would more-likely-than-not be required to sell any of its impaired securities, that is, where fair value is less than the cost basis of the security. The following table summarizes the fair value of securities with continuous unrealized losses for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or longer as of June 30, 2015 and December 31, 2014. All securities referenced are debt securities. Less than 12 months 12 months or longer Total Estimated Estimated Estimated June 30, 2015 Fair Number of Unrealized Fair Number of Unrealized Fair Number of Unrealized Value Investments Losses Value Investments Losses Value Investments Losses Description of Securities: Mortgage-backed securities: US Government- sponsored enterprises $ 82,334 105 $ 1,486 $ 22,933 31 $ 928 $ 105,267 136 $ 2,414 US Government agency 18,747 32 335 13,588 20 300 32,335 52 635 Private label 52 1 1 139 4 6 191 5 7 Obligations of states and political subdivisions thereof 39,759 14 871 4,223 81 236 43,982 95 1,107 Total $ 140,892 152 $ 2,693 $ 40,883 136 $ 1,470 $ 181,775 288 $ 4,163 Less than 12 months 12 months or longer Total Estimated Estimated Estimated December 31, 2014 Fair Number of Unrealized Fair Number of Unrealized Fair Number of Unrealized Value Investments Losses Value Investments Losses Value Investments Losses Description of Securities: Mortgage-backed securities: US Government- sponsored enterprises $ 45,899 53 $ 1,168 $ 35,511 45 $ 369 $ 81,410 98 $ 1,537 US Government agency 19,404 24 483 3,657 21 46 23,061 45 529 Private label 336 4 7 145 4 7 481 8 14 Obligations of states and political subdivisions thereof 12,549 28 240 2,724 5 12 15,273 33 252 Total $ 78,188 109 $ 1,898 $ 42,037 75 $ 434 $ 120,225 184 $ 2,332 For securities with unrealized losses, the following information was considered in determining that the impairments were not other-than-temporary: Mortgage-backed securities issued by U.S. Government-sponsored enterprises : As of June 30, 2015, the total unrealized losses on these securities amounted to $ 2,414 1,537 December 31, 2014. All of these securities were credit rated "AA+" by the major credit rating agencies. Company management believes these securities have minimal credit risk, as these Government-sponsored enterprises play a vital role in the nation's financial markets. Management's analysis indicates that the unrealized losses at June 30, 2015 were attributed to changes in current market yields and pricing spreads for similar securities since the date the underlying securities were purchased, and does not consider these securities to be OTTI at June 30, 2015. Mortgage-backed securities issued by U.S. Government agencies: As of June 30, 2015, the total unrealized losses on these securities amounted to $ 635 529 2014. All of these securities were credit rated "AA+" by the major credit rating agencies. Management's analysis indicates that these securities bear little or no credit risk because they are backed by the full faith and credit of the United States. The Company attributes the unrealized losses at June 30, 2015 to changes in current market yields and pricing spreads for similar securities since the date the underlying securities were purchased, and does not consider these securities to be OTTI at June 30, 2015. Private label mortgage-backed securities : As of June 30, 2015, the total unrealized losses on the Bank's private label MBS amounted to $ 7 14 Company attributes the unrealized losses at June 30, 2015 to the current illiquid market for non- agency MBS, a still recovering housing market, risk-related market pricing discounts for non- agency MBS and credit rating downgrades on certain private label MBS owned by the Company. Based upon the foregoing considerations and the expectation that the Company will receive all of the future contractual cash flows related to amortized cost on these securities, the Company does not consider there to be any additional OTTI with respect to these securities at June 30, 2015. Obligations of states of the U.S. and political subdivisions thereof : As of June 30, 2015, the total unrealized losses on the Bank's municipal securities amounted to $ 1,107 252 December 31, 2014. The Bank's municipal securities primarily consist of general obligation bonds and to a lesser extent, revenue bonds. General obligation bonds carry less risk, as they are supported by the full faith, credit and taxing authority of the issuing government and in the cases of school districts, are additionally supported by state aid. Revenue bonds are generally backed by municipal revenue streams generated through user fees or lease payments associated with specific municipal projects that have been financed. Municipal bonds are frequently supported with insurance, which guarantees that in the event the issuer experiences financial problems, the insurer will step in and assume payment of both principal and interest. Historically, insurance support has strengthened an issuer's underlying credit rating to "AAA" or "AA" status. Starting in 2008 and continuing through 2015, many of the insurance companies providing municipal bond insurance experienced financial difficulties and, accordingly, were downgraded by at least one of the major credit rating agencies. Consequently, a portion of the Bank's municipal bond portfolio was downgraded by at least one of the major credit rating agencies. Notwithstanding the credit rating downgrades, at June 30, 2015, the Bank's municipal bond portfolio did not contain any below investment grade securities as reported by major credit rating agencies. In addition, at June 30, 2015, all municipal bond issuers were current on contractually obligated interest and principal payments. The Company attributes the unrealized losses at June 30, 2015 to changes in current market yields and pricing spreads for similar securities since the date the underlying securities were purchased and, to a lesser extent, changes in credit ratings on certain securities. The Company also attributes the unrealized losses to ongoing media attention and market concerns about the prolonged recovery from the national economic recession and the impact it might have on the future financial stability of municipalities throughout the country. Accordingly, the Company does not consider these municipal securities to be other-than-temporarily impaired at June 30, 2015. At June 30, 2015, the Company had no intent to sell nor believed it is more-likely-than-not that it would be required to sell any of its impaired securities as identified and discussed immediately above, and therefore did not consider these securities to be other than temporarily impaired as of that date. Securities Gains and Losses: The following table summarizes realized gains and losses on securities available for sale for the three and six months ended June 30, 2015 and 2014. Proceeds Other from Sale of Than Securities Temporary Available Realized Realized Impairment for Sale Gains Losses Losses Net Three months ended June 30, 2015 $ 11,487 $ 587 $ --- $ --- $ 587 2014 $ 11,908 $ 385 $ 35 $ --- $ 350 Six months ended June 30, 2015 $ 20,428 $ 1,206 $ --- $ --- $ 1,206 2014 $ 22,221 $ 782 $ 35 $ --- $ 747 |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses | 6 Months Ended |
Jun. 30, 2015 | |
Loans And Allowance For Loan Losses [Abstract] | |
Loans And Allowance For Loan Losses | 90 Days June 30, 2015 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 394 $ 285 $ 1,530 $ 2,209 $ 351,920 $ 354,129 $ 2,430 $ --- Commercial and industrial 87 16 298 401 87,801 88,202 322 --- Commercial construction and land development - -- - -- 1,260 1,260 33,160 34,420 1,260 --- Agricultural and other loans to farmers 95 - -- 54 149 33,385 33,534 71 --- Residential real estate mortgages 2,209 683 1,446 4,338 389,417 393,755 3,551 --- Home equity 25 173 1,005 1,203 50,591 51,794 1,191 --- Other consumer loans 42 17 2 61 11,080 11,141 15 --- Tax exempt - -- - -- - -- - -- 16,146 16,146 - -- --- Total $ 2,852 $ 1,174 $ 5,595 $ 9,621 $ 973,500 $ 983,121 $ 8,840 $ ---
>90 Days December 31, 2014 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 189 $ 234 $ 1,843 $ 2,266 $ 323,683 $ 325,949 $ 3,156 $ --- Commercial and industrial 665 45 333 1,043 72,850 73,893 624 --- Commercial construction and land development - -- - -- 1,328 1,328 24,093 25,421 1,328 --- Agricultural and other loans to farmers 27 - -- 64 91 30,380 30,471 84 --- Residential real estate mortgages 1,980 547 1,681 4,208 378,470 382,678 6,051 --- Home equity 138 40 575 753 51,042 51,795 1,029 --- Other consumer loans 231 5 7 243 11,897 12,140 16 --- Tax exempt - -- - -- - -- - -- 16,693 16,693 - -- --- Total $ 3,230 $ 871 $ 5,831 $ 9,932 $ 909,108 $ 919,040 $ 12,288 $ --- Impaired Loans: Impaired loans are all commercial loans for which the Company believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement, as well as all loans modified into a TDR, if any. Allowances for losses on impaired loans are determined by the lower of the present value of the expected cash flows related to the loan, using the original contractual interest rate, and its recorded value, or in the case of collateral dependent loans, the lower of the fair value of the collateral, less costs to dispose, and the recorded amount of the loans. When foreclosure is probable, impairment is measured based on the fair value of the collateral less cost to sell. Details of impaired loans as of June 30, 2015 and December 31, 2014 follows:
June 30, 2015 December 31, 2014 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no related allowance: Commercial real estate mortgages $ 2,191 $ 2,314 $ --- $ 1,606 $ 1,606 $ --- Commercial and industrial 299 449 - -- 309 309 - -- Commercial construction - -- - -- and land development 1,260 3,185 1,328 3,253 Agricultural and other loans to farmers 112 112 - -- 181 181 - -- Residential real estate loans 1,465 1,615 - -- 389 419 - -- Home equity loans 18 212 - -- - -- - -- - -- Other consumer - -- - -- - -- - -- - -- - -- Subtotal $ 5,345 $ 7,887 $ --- $ 3,813 $ 5,768 $ --- With an allowance: Commercial real estate mortgages $ 955 $ 955 $ 419 $ 1,986 $ 2,014 $ 776 Commercial and industrial 170 320 169 325 555 187 Commercial construction - -- - -- - -- and land development - -- - -- - -- Agricultural and other loans to farmers 54 54 47 - -- - -- - -- Residential real estate loans 187 187 40 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- Other consumer 9 9 1 10 10 1 Subtotal $ 1,375 $ 1,525 $ 676 $ 2,321 $ 2,579 $ 964 Total $ 6,720 $ 9,412 $ 676 $ 6,134 $ 8,347 $ 964 Details of impaired loans for the three and six months ended June 30, 2015 and 2014 follows:
June 30, 2015 June 30, 2014 Three Months Ended Six Months Ended Three Months Ended Six Months Ended Average Average Average Average Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Recorded Investment Recorded Investment Recorded Investment Recorded With no related allowance: Commercial real estate mortgages $ 2,413 $ 7 $ 2,698 $ 14 $ 2,075 $ 16 $ 2,191 $ 31 Commercial and industrial 441 3 446 5 764 1 754 2 Commercial construction and land development 1,260 - -- 1,260 - -- 1,504 - -- 1,702 - -- Agricultural and other loans to farmers 113 2 118 4 60 - -- 61 - -- Residential real estate mortgages 1,498 13 1,483 25 491 3 492 6 Home equity loans 18 - -- 19 1 20 1 20 1 Other consumer - -- - -- - -- - -- 12 - -- 12 - -- Subtotal $ 5,743 $ 25 $ 6,024 $ 49 $ 4,926 $ 21 $ 5,232 $ 40 With an allowance: Commercial real estate mortgages $ 955 $ --- $ 955 $ --- $ 297 $ --- $ 379 $ --- Commercial and industrial 170 - -- 170 - -- 536 - -- 389 - -- Commercial construction - -- and land development - -- - -- - -- - -- - -- - -- - -- Agricultural and other - -- - -- loans to farmers 54 - -- 54 - -- - -- - -- Residential real - -- - -- estate mortgages 184 - -- 183 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- - -- - -- Other consumer 10 - -- 10 - -- - -- - -- - -- - -- Subtotal $ 1,373 $ --- $ 1,372 $ --- $ 833 $ --- $ 768 $ --- Total $ 7,116 $ 25 $ 7,396 $ 49 $ 5,759 $ 21 $ 6,000 $ 40
Credit Quality Indicators/Classified Loans: In monitoring the credit quality of the portfolio, management applies a credit quality indicator to all categories of commercial loans. These credit quality indicators range from one through nine, with a higher number correlating to increasing risk of loss. These ratings are used as inputs to the calculation of the allowance for loan losses. Consistent with regulatory guidelines, the Bank provides for the classification of loans which are considered to be of lesser quality as substandard, doubtful, or loss. The Bank considers a loan substandard if it is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Substandard loans have a well-defined weakness that jeopardizes liquidation of the debt. Substandard loans include those loans where there is the distinct possibility of some loss of principal, if the deficiencies are not corrected. Loans that the Bank classifies as doubtful have all of the weaknesses inherent in those loans that are classified as substandard but also have the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is high but because of certain important and reasonably specific pending factors which may work to the advantage and strengthening of the loan, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. The entire amount of the loan might not be classified as doubtful when collection of a specific portion appears highly probable. Loans are generally not classified doubtful for an extended period of time (i.e., over a year). Loans that the Bank classifies as loss are those considered uncollectible and of such little value that their continuance as an asset is not warranted and the uncollectible amounts are charged-off. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. Losses are taken in the period in which they surface as uncollectible. Loans that do not expose the Bank to risk sufficient to warrant classification in one of the aforementioned categories, but which possess some weaknesses, are designated special mention. A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. This might include loans which the lending officer may be unable to supervise properly because of: (i) lack of expertise, inadequate loan agreement; (ii) the poor condition of or lack of control over collateral; (iii) failure to obtain proper documentation or any other deviations from prudent lending practices. Economic or market conditions which may, in the future, affect the obligor may warrant special mention of the asset. Loans for which an adverse trend in the borrower's operations or an imbalanced position in the balance sheet which has not reached a point where the liquidation is jeopardized may be included in this classification. Special mention assets are not adversely classified and do not expose an institution to sufficient risks to warrant classification. The following tables summarize the commercial loan portfolio as of June 30, 2015, and December 31, 2014, by credit quality indicator. Credit quality indicators are reassessed for each applicable commercial loan at least annually, or upon receipt and analysis of the borrower's financial statements, when applicable. Consumer loans, which principally consist of residential mortgage loans, are not rated, but are evaluated for credit quality after origination based on delinquency status (see past due loan aging table above).
Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to June 30, 2015 mortgages industrial development farmers Total Pass $ 326,979 $ 82,590 $ 32,657 $ 33,128 $ 475,354 Other Assets Especially Mentioned 8,978 2,787 503 190 12,458 Substandard 17,006 2,825 1,260 216 21,307 Doubtful 1,166 - -- - -- - -- 1,166 Loss - -- - -- - -- - -- - -- Total $ 354,129 $ 88,202 $ 34,420 $ 33,534 $ 510,285
Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to December 31, 2014 mortgages industrial development farmers Total Pass $ 302,376 $ 62,226 $ 23,290 $ 30,047 $ 417,939 Other Assets Especially Mentioned 11,501 7,349 - -- 193 19,043 Substandard 12,072 4,318 2,131 231 18,752 Doubtful - -- - -- - -- - -- - -- Loss - -- - -- - -- - -- - -- Total $ 325,949 $ 73,893 $ 25,421 $ 30,471 $ 455,734
Allowance for Loan Losses: The allowance for loan losses (the "allowance") is a reserve established through a provision for loan losses (the "provision") charged to expense, which represents management's best estimate of probable losses that have been incurred within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to provide for estimated loan losses and risks inherent in the loan portfolio. The Bank's allowance for loan loss methodology includes allowance allocations calculated in accordance with ASC Topic 310, "Receivables" and allowance allocations calculated in accordance with ASC Topic 450, "Contingencies." Accordingly, the methodology is based on historical loss experience by type of credit and internal risk grade, specific homogeneous risk pools and specific loss allocations, with qualitative adjustments for current events and conditions. The allowance calculation includes an adjustment for a Loss Emergence Period, which improves the Bank's ability to more accurately forecast probable losses that may exist in the loan portfolio that may not have emerged into "problem loan" status. The Bank's process for determining the appropriate level of the allowance is designed to account for credit deterioration as it occurs. The provision reflects loan quality trends, including the levels of and trends related to non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, and overall size of the loan portfolio, among other factors. The provision also reflects the totality of actions taken on all loans for a particular period. In other words, the amount of the provision reflects not only the necessary increases in the allowance related to newly identified criticized loans, but it also reflects actions taken related to other loans including, among other things, any necessary increases or decreases in required allowances for specific loans or loan pools. The level of the allowance reflects management's continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio. While management utilizes its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond the Bank's control, including, among other things, the performance of the Bank's loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. The Bank's allowance for loan losses consists of three principal elements: (i) specific valuation allowances determined in accordance with ASC Topic 310 based on probable losses on specific loans; (ii) historical valuation allowances determined in accordance with ASC Topic 450 based on historical loan loss experience for similar loans with similar characteristics and trends, adjusted, as necessary, to reflect the impact of current conditions; and (iii) general valuation allowances determined in accordance with ASC Topic 450 based on general economic conditions and other qualitative risk factors both internal and external to the Bank. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship level for all commercial loans. When a loan has a classification of substandard or worse, the Bank analyzes the loan to determine whether the loan is impaired and, if impaired, the need to specifically allocate a portion of the allowance to the loan. Specific valuation allowances are determined by analyzing the borrower's ability to repay amounts contractually owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower's industry, among other observable considerations.
Historical valuation allowances are calculated based on the historical loss experience of specific types of loans and the internal risk grade of such loans at the time they were charged-off. The Bank calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated quarterly based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool, net of any loans for which reserves are already established. The Bank's pools of similar loans include similarly risk-graded groups of commercial real estate loans, commercial and industrial loans, commercial construction and development loans, municipal loans, residential mortgage loans, consumer revolving loans, and consumer installment loans. General valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Bank. In general, such valuation allowances are determined by evaluating, among other things: (i) changes in lending policies and procedures; (ii) economic and business conditions; (iii) changes in the volume and nature of the loan portfolio; (iv) experience, ability and depth of lending management and staff; (v) changes in asset quality and problem loan trends; (vi) quality of internal controls and effectiveness of loan review; (vii) concentrations of credit; (viii) external factors, including changes in competition, legal, and regulatory matters; and (ix) real estate market conditions and valuations of collateral. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. The results are then used to determine an appropriate general valuation allowance. Loans identified as losses by management, external loan review and/or bank examiners, are charged-off. Furthermore, consumer loan accounts are charged-off based on regulatory requirements. The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015, and 2014. The tables also provide details regarding the Bank's recorded investment in loans related to each balance in the allowance for loan losses by portfolio segment and disaggregated on the basis of the Bank's impairment methodology. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
Commercial Three Months Commercial Construction Ended June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,500 $ 1,074 $ 107 $ 334 $ 2,875 $ 145 $ 367 $ 76 $ 9,478 Charged Off (181 ) (213 ) - -- - -- (70 ) (14 ) (311 ) - -- (789 ) Recoveries 5 1 - -- - 4 - -- - -- 10 Provision (35 ) 285 38 38 (320 ) (25 ) 416 3 400 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099
Commercial Six Months Ended Commercial Construction June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,468 $ 929 $ 145 $ 277 $ 2,714 $ 94 $ 271 $ 71 $ 8,969 Charged Off (206 ) (288 ) - -- (18 ) (70 ) (25 ) (351 ) - -- (958 ) Recoveries 39 2 - -- 12 129 11 - -- - -- 193 Provision (12 ) 504 - -- 101 (288 ) 30 552 8 895 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099 of which: Amount for loans individually evaluated for impairment $ 419 $ 169 $ - -- $ 47 $ 40 $ --- $ 1 $ --- $ 676 Amount for loans collectively evaluated for impairment $ 3,870 $ 978 $ 145 $ 325 $ 2,445 $ 110 $ 471 $ 79 $ 8,423 Loans individually evaluated for impairment $ 2,992 $ 469 $ 1,260 $ 166 $ 1,180 $ 9 $ --- $ --- $ 6,076 Loans collectively evaluated for impairment $ 351,137 $ 87,733 $ 33,160 $ 33,368 $ 392,575 $ 11,132 $ 51,794 $ 16,146 $ 977,045
Commercial Three Months Commercial Construction Ended June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,735 $ 1,654 $ 231 $ 350 $ 1,128 $ 206 $ 239 $ 179 $ 8,722 Charged Off (165 ) (88 ) - -- - -- (125 ) (63 ) - -- - -- (441 ) Recoveries - -- 10 - -- 15 11 6 - -- - -- 42 Provision 317 (3 ) 23 6 135 (46 ) 2 (6 ) 428 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751
Commercial Six Months Ended Commercial Construction June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,825 $ 1,266 $ 314 $ 335 $ 1,166 $ 137 $ 264 $ 168 $ 8,475 Charged Off (165 ) (99 ) - -- (14 ) (293 ) (80 ) (18 ) - -- (669 ) Recoveries 6 12 - -- 15 12 15 - -- - -- 60 Provision 221 394 (60 ) 35 264 31 (5 ) 5 885 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751
Loan Concentrations: Because of the company's proximity to Acadia National Park, a large part of the economic activity in the bank's area is generated from the hospitality business associated with tourism. At June 30, 2015, and December 31, 2014, loans to the lodging industry amounted to approximately $ 110,951 112,520" id="sjs-B4">Note 6: Loans and Allowance for Loan Losses Loans are carried at the principal amounts outstanding adjusted by partial charge-offs and net deferred loan origination costs or fees. Interest on loans is accrued and credited to income based on the principal amount of loans outstanding. Residential real estate and home equity loans are generally placed on non-accrual status when reaching 90 days past due, or in process of foreclosure, or sooner if judged appropriate by management. Consumer loans are generally placed on non-accrual status when reaching 90 days or more past due, or sooner if management determines there is a reason to doubt full collectability of all outstanding principal and interest. Secured consumer loans are written down to realizable value and unsecured consumer loans are charged-off upon reaching 120 days past due. Commercial real estate loans and commercial business loans that are 90 days or more past due are generally placed on non-accrual status, unless secured by sufficient cash or other assets immediately convertible to cash, and the loan is in the process of collection. Commercial real estate and commercial business loans may be placed on non-accrual status prior to the 90 days delinquency date if management determines there is a reason to doubt full collectability of all outstanding principal and interest. When a loan has been placed on non-accrual status, previously accrued and uncollected interest is reversed against interest on loans. A loan can be returned to accrual status when there is evidence of an ability to adhere to the required repayment schedule and the loan has performed for a period of time, generally six months. Commercial real estate and commercial business loans are considered impaired when it becomes probable the bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status and collateral value. In considering loans for evaluation of impairment, management generally excludes smaller balance, homogeneous loans, residential mortgage loans, home equity loans, and all consumer loans, unless such loans were restructured in a troubled debt restructuring. These loans are collectively evaluated for risk of loss. Loan origination, commitment fees and direct loan origination costs are deferred, and the net amount is amortized as an adjustment of the related loans' yield, using the level yield method over the estimated lives of the related loans. The Company's lending activities are principally conducted in downeast, midcoast and central Maine. The following table summarizes the composition of the loan portfolio as of June 30, 2015, and December 31, 2014: LOAN PORTFOLIO SUMMARY June 30, December 31, 2015 2014 Commercial real estate mortgages $ 354,129 $ 325,949 Commercial and industrial 88,202 73,893 Commercial construction and land development 34,420 25,421 Agricultural and other loans to farmers 33,534 30,471 Total commercial loans 510,285 455,734 Residential real estate mortgages 393,755 382,678 Home equity loans 51,794 51,795 Other consumer loans 11,141 12,140 Total consumer loans 456,690 446,613 Tax exempt loans 16,146 16,693 Net deferred loan costs and fees 123 (16 ) Total loans 983,244 919,024 Allowance for loan losses (9,099 ) (8,969 ) Total loans net of allowance for loan losses $ 974,145 $ 910,055 LOAN ORIGINATION/RISK MANAGEMENT: The Bank has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. The Bank's board of directors reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management and the board with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing loans and potential problem loans. The Bank seeks to diversify the loan portfolio as a means of managing risk associated with fluctuations in economic conditions. Commercial Real Estate Mortgages : The Bank's commercial real estate mortgage loans are collateralized by liens on real estate, typically have variable interest rates and amortize over a 15 20 29.9 Commercial and Industrial Loans : Commercial and industrial loans are underwritten after evaluating and understanding the borrower's ability to operate profitably, and prudently expand its business. Commercial and industrial loans are primarily made in the Bank's market areas and are underwritten on the basis of the borrower's ability to service the debt from income. As a general practice, the Bank takes as collateral a lien on any available real estate, equipment or other assets owned by the borrower and obtains a personal guaranty of the borrower(s) or principal(s). Working capital loans are primarily collateralized by short-term assets whereas term loans are primarily collateralized by long-term assets. The risk in commercial and industrial loans is principally due to the type of collateral securing these loans. The increased risk also derives from the expectation that commercial and industrial loans generally will be serviced principally from the operations of the business, and, if not successful, these loans are primarily secured by tangible, non-real estate collateral. Construction and Land Development Loans : The Bank makes loans to finance the construction of residential and non-residential properties. Construction loans generally are collateralized by first liens on real estate. The Bank conducts periodic inspections, either directly or through an agent, prior to approval of periodic draws on these loans. Underwriting guidelines similar to those described immediately above are also used in the Bank's construction lending activities. Construction loans involve additional risks attributable to the fact that loan funds are advanced against a project under construction and the project is of uncertain value prior to its completion. Because of uncertainties inherent in estimating construction costs, the market value of the completed project and the effects of governmental regulation on real property, it can be difficult to accurately evaluate the total funds required to complete a project and the related loan to value ratio. As a result of these uncertainties, construction lending often involves the disbursement of substantial funds with repayment dependent, in part, on the success of the ultimate project rather than the ability of a borrower or guarantor to repay the loan. In many cases the success of the project can also depend upon the financial support/strength of the sponsorship. If the Bank is forced to foreclose on a project prior to completion, there is no assurance that the Bank will be able to recover the entire unpaid portion of the loan. In addition, the Bank may be required to fund additional amounts to complete a project and may have to hold the property for an indeterminate period of time. While the Bank has underwriting procedures designed to identify what it believes to be acceptable levels of risks in construction lending, no assurance can be given that these procedures will prevent losses from the risks described above. Residential Real Estate Mortgages : The Bank originates and purchases first-lien, adjustable-rate and fixed-rate, one-to-four-family residential real estate loans for the construction, purchase or refinancing of residential property. These loans are principally collateralized by owner-occupied properties, and to a lesser extent second homes and vacation properties, and are amortized over 10 30 (" FHLMC") with servicing rights retained. This practice allows the Bank to better manage interest rate risk and liquidity risk. In an effort to manage risk of loss and strengthen secondary market liquidity opportunities, management typically uses secondary market underwriting, appraisal, and servicing guidelines for all loans, including those held in its portfolio. Loans on one-to-four-family residential real estate are mostly originated in amounts of no more than 80 Home Equity Loans : The Bank originates home equity lines of credit and second mortgage loans (loans which are secured by a junior lien position on one-to-four-family residential real estate). These loans carry a higher risk than first mortgage residential loans as they are in a second position relating to collateral. Risk is reduced through underwriting criteria, which include credit verification, appraisals and evaluations, a review of the borrower's financial condition, and personal cash flows. A security interest, with title insurance when necessary, is taken in the underlying real estate. Non-performing Loans: the following table sets forth information regarding non-accruing loans and accruing loans 90 days or more overdue at June 30, 2015, and December 31, 2014. TOTAL NON-PERFORMING LOANS June 30, December 31, 2015 2014 Commercial real estate mortgages $ 2,430 $ 3,156 Commercial and industrial loans 322 624 Commercial construction and land development 1,260 1,328 Agricultural and other loans to farmers 71 84 Total commercial loans 4,083 5,192 Residential real estate mortgages 3,551 6,051 Home equity loans 1,191 1,029 Other consumer loans 15 16 Total consumer loans 4,757 7,096 Total non-accrual loans 8,840 12,288 Accruing loans contractually past due 90 days or more - -- - -- Total non-performing loans $ 8,840 $ 12,288 Troubled Debt Restructures: A Troubled Debt Restructure ("TDR") results from a modification to a loan to a borrower who is experiencing financial difficulty in which the Bank grants a concession to the debtor that it would not otherwise consider but for the debtor's financial difficulties. Financial difficulty arises when a debtor is bankrupt or contractually past due, or is likely to become so, based upon its ability to pay. A concession represents an accommodation not generally available to other customers, which may include a below-market interest rate, deferment of principal payments, extension of maturity dates, etc. Such accommodations extended to customers who are not experiencing financial difficulty do not result in TDR classification. Summary information pertaining to the TDRs that occurred during the three and six months ended June 30, 2015 follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2015 Post - Pre-Modification Post-Modification Pre-Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of Loans Investment Investment of Loans Investment Investment Agricultural and other loans to farmers - -- $ --- $ --- 1 18 17 Total commercial loans - -- - -- - -- 1 18 17 Residential real estate mortgages 2 $ 795 $ 794 3 $ 1,267 $ 1,266 Total consumer loans 2 795 794 3 1,267 1,266 Total 2 $ 795 $ 794 4 $ 1,285 $ 1,283 There were no The following table shows the Bank's post-modification balance of TDRs listed by type of modification for TDRs that occurred during the three and six months ended June 30, 2015: June 30, 2015 Three Six Months Months Ended Ended Extended maturity and adjusted interest rate $ --- $ 489 Adjusted payment 607 607 Adjusted payment and capitalized interest 187 187 Total $ 794 $ 1,283 As of June 30, 2015, the Bank had two two 112 three two 745 five four 148 five five 1,652 one 18 one 9 five 707 one gricultural and other loans to farmers for $ 95 As of December 31, 2014, the Bank had six six one one nine 1,449 seven 357 none During the six months ended June 30, 2015 and 2014, there were no Past due loans: Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The following tables set forth information regarding past due loans at June 30, 2015, and December 31, 2014. Amounts shown exclude deferred loan origination fees and costs. >90 Days June 30, 2015 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 394 $ 285 $ 1,530 $ 2,209 $ 351,920 $ 354,129 $ 2,430 $ --- Commercial and industrial 87 16 298 401 87,801 88,202 322 --- Commercial construction and land development - -- - -- 1,260 1,260 33,160 34,420 1,260 --- Agricultural and other loans to farmers 95 - -- 54 149 33,385 33,534 71 --- Residential real estate mortgages 2,209 683 1,446 4,338 389,417 393,755 3,551 --- Home equity 25 173 1,005 1,203 50,591 51,794 1,191 --- Other consumer loans 42 17 2 61 11,080 11,141 15 --- Tax exempt - -- - -- - -- - -- 16,146 16,146 - -- --- Total $ 2,852 $ 1,174 $ 5,595 $ 9,621 $ 973,500 $ 983,121 $ 8,840 $ --- >90 Days December 31, 2014 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 189 $ 234 $ 1,843 $ 2,266 $ 323,683 $ 325,949 $ 3,156 $ --- Commercial and industrial 665 45 333 1,043 72,850 73,893 624 --- Commercial construction and land development - -- - -- 1,328 1,328 24,093 25,421 1,328 --- Agricultural and other loans to farmers 27 - -- 64 91 30,380 30,471 84 --- Residential real estate mortgages 1,980 547 1,681 4,208 378,470 382,678 6,051 --- Home equity 138 40 575 753 51,042 51,795 1,029 --- Other consumer loans 231 5 7 243 11,897 12,140 16 --- Tax exempt - -- - -- - -- - -- 16,693 16,693 - -- --- Total $ 3,230 $ 871 $ 5,831 $ 9,932 $ 909,108 $ 919,040 $ 12,288 $ --- Impaired Loans: Impaired loans are all commercial loans for which the Company believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement, as well as all loans modified into a TDR, if any. Allowances for losses on impaired loans are determined by the lower of the present value of the expected cash flows related to the loan, using the original contractual interest rate, and its recorded value, or in the case of collateral dependent loans, the lower of the fair value of the collateral, less costs to dispose, and the recorded amount of the loans. When foreclosure is probable, impairment is measured based on the fair value of the collateral less cost to sell. Details of impaired loans as of June 30, 2015 and December 31, 2014 follows: June 30, 2015 December 31, 2014 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no related allowance: Commercial real estate mortgages $ 2,191 $ 2,314 $ --- $ 1,606 $ 1,606 $ --- Commercial and industrial 299 449 - -- 309 309 - -- Commercial construction - -- - -- and land development 1,260 3,185 1,328 3,253 Agricultural and other loans to farmers 112 112 - -- 181 181 - -- Residential real estate loans 1,465 1,615 - -- 389 419 - -- Home equity loans 18 212 - -- - -- - -- - -- Other consumer - -- - -- - -- - -- - -- - -- Subtotal $ 5,345 $ 7,887 $ --- $ 3,813 $ 5,768 $ --- With an allowance: Commercial real estate mortgages $ 955 $ 955 $ 419 $ 1,986 $ 2,014 $ 776 Commercial and industrial 170 320 169 325 555 187 Commercial construction - -- - -- - -- and land development - -- - -- - -- Agricultural and other loans to farmers 54 54 47 - -- - -- - -- Residential real estate loans 187 187 40 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- Other consumer 9 9 1 10 10 1 Subtotal $ 1,375 $ 1,525 $ 676 $ 2,321 $ 2,579 $ 964 Total $ 6,720 $ 9,412 $ 676 $ 6,134 $ 8,347 $ 964 Details of impaired loans for the three and six months ended June 30, 2015 and 2014 follows: June 30, 2015 June 30, 2014 Three Months Ended Six Months Ended Three Months Ended Six Months Ended Average Average Average Average Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Recorded Investment Recorded Investment Recorded Investment Recorded With no related allowance: Commercial real estate mortgages $ 2,413 $ 7 $ 2,698 $ 14 $ 2,075 $ 16 $ 2,191 $ 31 Commercial and industrial 441 3 446 5 764 1 754 2 Commercial construction and land development 1,260 - -- 1,260 - -- 1,504 - -- 1,702 - -- Agricultural and other loans to farmers 113 2 118 4 60 - -- 61 - -- Residential real estate mortgages 1,498 13 1,483 25 491 3 492 6 Home equity loans 18 - -- 19 1 20 1 20 1 Other consumer - -- - -- - -- - -- 12 - -- 12 - -- Subtotal $ 5,743 $ 25 $ 6,024 $ 49 $ 4,926 $ 21 $ 5,232 $ 40 With an allowance: Commercial real estate mortgages $ 955 $ --- $ 955 $ --- $ 297 $ --- $ 379 $ --- Commercial and industrial 170 - -- 170 - -- 536 - -- 389 - -- Commercial construction - -- and land development - -- - -- - -- - -- - -- - -- - -- Agricultural and other - -- - -- loans to farmers 54 - -- 54 - -- - -- - -- Residential real - -- - -- estate mortgages 184 - -- 183 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- - -- - -- Other consumer 10 - -- 10 - -- - -- - -- - -- - -- Subtotal $ 1,373 $ --- $ 1,372 $ --- $ 833 $ --- $ 768 $ --- Total $ 7,116 $ 25 $ 7,396 $ 49 $ 5,759 $ 21 $ 6,000 $ 40 Credit Quality Indicators/Classified Loans: In monitoring the credit quality of the portfolio, management applies a credit quality indicator to all categories of commercial loans. These credit quality indicators range from one through nine, with a higher number correlating to increasing risk of loss. These ratings are used as inputs to the calculation of the allowance for loan losses. Consistent with regulatory guidelines, the Bank provides for the classification of loans which are considered to be of lesser quality as substandard, doubtful, or loss. The Bank considers a loan substandard if it is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Substandard loans have a well-defined weakness that jeopardizes liquidation of the debt. Substandard loans include those loans where there is the distinct possibility of some loss of principal, if the deficiencies are not corrected. Loans that the Bank classifies as doubtful have all of the weaknesses inherent in those loans that are classified as substandard but also have the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is high but because of certain important and reasonably specific pending factors which may work to the advantage and strengthening of the loan, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral and refinancing plans. The entire amount of the loan might not be classified as doubtful when collection of a specific portion appears highly probable. Loans are generally not classified doubtful for an extended period of time (i.e., over a year). Loans that the Bank classifies as loss are those considered uncollectible and of such little value that their continuance as an asset is not warranted and the uncollectible amounts are charged-off. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. Losses are taken in the period in which they surface as uncollectible. Loans that do not expose the Bank to risk sufficient to warrant classification in one of the aforementioned categories, but which possess some weaknesses, are designated special mention. A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. This might include loans which the lending officer may be unable to supervise properly because of: (i) lack of expertise, inadequate loan agreement; (ii) the poor condition of or lack of control over collateral; (iii) failure to obtain proper documentation or any other deviations from prudent lending practices. Economic or market conditions which may, in the future, affect the obligor may warrant special mention of the asset. Loans for which an adverse trend in the borrower's operations or an imbalanced position in the balance sheet which has not reached a point where the liquidation is jeopardized may be included in this classification. Special mention assets are not adversely classified and do not expose an institution to sufficient risks to warrant classification. The following tables summarize the commercial loan portfolio as of June 30, 2015, and December 31, 2014, by credit quality indicator. Credit quality indicators are reassessed for each applicable commercial loan at least annually, or upon receipt and analysis of the borrower's financial statements, when applicable. Consumer loans, which principally consist of residential mortgage loans, are not rated, but are evaluated for credit quality after origination based on delinquency status (see past due loan aging table above). Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to June 30, 2015 mortgages industrial development farmers Total Pass $ 326,979 $ 82,590 $ 32,657 $ 33,128 $ 475,354 Other Assets Especially Mentioned 8,978 2,787 503 190 12,458 Substandard 17,006 2,825 1,260 216 21,307 Doubtful 1,166 - -- - -- - -- 1,166 Loss - -- - -- - -- - -- - -- Total $ 354,129 $ 88,202 $ 34,420 $ 33,534 $ 510,285 Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to December 31, 2014 mortgages industrial development farmers Total Pass $ 302,376 $ 62,226 $ 23,290 $ 30,047 $ 417,939 Other Assets Especially Mentioned 11,501 7,349 - -- 193 19,043 Substandard 12,072 4,318 2,131 231 18,752 Doubtful - -- - -- - -- - -- - -- Loss - -- - -- - -- - -- - -- Total $ 325,949 $ 73,893 $ 25,421 $ 30,471 $ 455,734 Allowance for Loan Losses: The allowance for loan losses (the "allowance") is a reserve established through a provision for loan losses (the "provision") charged to expense, which represents management's best estimate of probable losses that have been incurred within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to provide for estimated loan losses and risks inherent in the loan portfolio. The Bank's allowance for loan loss methodology includes allowance allocations calculated in accordance with ASC Topic 310, "Receivables" and allowance allocations calculated in accordance with ASC Topic 450, "Contingencies." Accordingly, the methodology is based on historical loss experience by type of credit and internal risk grade, specific homogeneous risk pools and specific loss allocations, with qualitative adjustments for current events and conditions. The allowance calculation includes an adjustment for a Loss Emergence Period, which improves the Bank's ability to more accurately forecast probable losses that may exist in the loan portfolio that may not have emerged into "problem loan" status. The Bank's process for determining the appropriate level of the allowance is designed to account for credit deterioration as it occurs. The provision reflects loan quality trends, including the levels of and trends related to non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, and overall size of the loan portfolio, among other factors. The provision also reflects the totality of actions taken on all loans for a particular period. In other words, the amount of the provision reflects not only the necessary increases in the allowance related to newly identified criticized loans, but it also reflects actions taken related to other loans including, among other things, any necessary increases or decreases in required allowances for specific loans or loan pools. The level of the allowance reflects management's continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio. While management utilizes its best judgment and information available, the ultimate adequacy of the allowance is dependent upon a variety of factors beyond the Bank's control, including, among other things, the performance of the Bank's loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. The Bank's allowance for loan losses consists of three principal elements: (i) specific valuation allowances determined in accordance with ASC Topic 310 based on probable losses on specific loans; (ii) historical valuation allowances determined in accordance with ASC Topic 450 based on historical loan loss experience for similar loans with similar characteristics and trends, adjusted, as necessary, to reflect the impact of current conditions; and (iii) general valuation allowances determined in accordance with ASC Topic 450 based on general economic conditions and other qualitative risk factors both internal and external to the Bank. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship level for all commercial loans. When a loan has a classification of substandard or worse, the Bank analyzes the loan to determine whether the loan is impaired and, if impaired, the need to specifically allocate a portion of the allowance to the loan. Specific valuation allowances are determined by analyzing the borrower's ability to repay amounts contractually owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower's industry, among other observable considerations. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans and the internal risk grade of such loans at the time they were charged-off. The Bank calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated quarterly based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool, net of any loans for which reserves are already established. The Bank's pools of similar loans include similarly risk-graded groups of commercial real estate loans, commercial and industrial loans, commercial construction and development loans, municipal loans, residential mortgage loans, consumer revolving loans, and consumer installment loans. General valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Bank. In general, such valuation allowances are determined by evaluating, among other things: (i) changes in lending policies and procedures; (ii) economic and business conditions; (iii) changes in the volume and nature of the loan portfolio; (iv) experience, ability and depth of lending management and staff; (v) changes in asset quality and problem loan trends; (vi) quality of internal controls and effectiveness of loan review; (vii) concentrations of credit; (viii) external factors, including changes in competition, legal, and regulatory matters; and (ix) real estate market conditions and valuations of collateral. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. The results are then used to determine an appropriate general valuation allowance. Loans identified as losses by management, external loan review and/or bank examiners, are charged-off. Furthermore, consumer loan accounts are charged-off based on regulatory requirements. The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015, and 2014. The tables also provide details regarding the Bank's recorded investment in loans related to each balance in the allowance for loan losses by portfolio segment and disaggregated on the basis of the Bank's impairment methodology. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Commercial Three Months Commercial Construction Ended June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,500 $ 1,074 $ 107 $ 334 $ 2,875 $ 145 $ 367 $ 76 $ 9,478 Charged Off (181 ) (213 ) - -- - -- (70 ) (14 ) (311 ) - -- (789 ) Recoveries 5 1 - -- - 4 - -- - -- 10 Provision (35 ) 285 38 38 (320 ) (25 ) 416 3 400 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099 Commercial Six Months Ended Commercial Construction June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,468 $ 929 $ 145 $ 277 $ 2,714 $ 94 $ 271 $ 71 $ 8,969 Charged Off (206 ) (288 ) - -- (18 ) (70 ) (25 ) (351 ) - -- (958 ) Recoveries 39 2 - -- 12 129 11 - -- - -- 193 Provision (12 ) 504 - -- 101 (288 ) 30 552 8 895 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099 of which: Amount for loans individually evaluated for impairment $ 419 $ 169 $ - -- $ 47 $ 40 $ --- $ 1 $ --- $ 676 Amount for loans collectively evaluated for impairment $ 3,870 $ 978 $ 145 $ 325 $ 2,445 $ 110 $ 471 $ 79 $ 8,423 Loans individually evaluated for impairment $ 2,992 $ 469 $ 1,260 $ 166 $ 1,180 $ 9 $ --- $ --- $ 6,076 Loans collectively evaluated for impairment $ 351,137 $ 87,733 $ 33,160 $ 33,368 $ 392,575 $ 11,132 $ 51,794 $ 16,146 $ 977,045 Commercial Three Months Commercial Construction Ended June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,735 $ 1,654 $ 231 $ 350 $ 1,128 $ 206 $ 239 $ 179 $ 8,722 Charged Off (165 ) (88 ) - -- - -- (125 ) (63 ) - -- - -- (441 ) Recoveries - -- 10 - -- 15 11 6 - -- - -- 42 Provision 317 (3 ) 23 6 135 (46 ) 2 (6 ) 428 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751 Commercial Six Months Ended Commercial Construction June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,825 $ 1,266 $ 314 $ 335 $ 1,166 $ 137 $ 264 $ 168 $ 8,475 Charged Off (165 ) (99 ) - -- (14 ) (293 ) (80 ) (18 ) - -- (669 ) Recoveries 6 12 - -- 15 12 15 - -- - -- 60 Provision 221 394 (60 ) 35 264 31 (5 ) 5 885 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751 Loan Concentrations: Because of the company's proximity to Acadia National Park, a large part of the economic activity in the bank's area is generated from the hospitality business associated with tourism. At June 30, 2015, and December 31, 2014, loans to the lodging industry amounted to approximately $ 110,951 112,520 |
Reclassifications Out Of Accumu
Reclassifications Out Of Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2015 | |
Reclassifications Out Of Accumulated Other Comprehensive Income [Abstract] | |
Reclassifications Out Of Accumulated Other Comprehensive Income | Note 7: Reclassifications Out of Accumulated Other Comprehensive Income The following table summarizes the reclassifications out of Accumulated Other Comprehensive Income for the six months ended June 30, 2015 and 2014. Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Details about Accumulated Other Comprehensive Income June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities Tax (expense) or benefit $ 1,206 Net (losses) gain on sales of investments Net of tax (422 ) Provision for income taxes $ 784 Net income Amortization of postretirement benefit plan Amortization of actuarial loss for supplemental executive retirement plan (19 ) Salaries and benefits Tax (expense) or benefit 7 Provision for income taxes Net of tax $ (12 ) Net income Total reclassification for the period $ 772 Net (loss) income, net of tax Affected Line Item in the Statement Where Net Details about Accumulated Other Comprehensive Income June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities Tax (expense) or benefit $ 747 Net gain on sales of investments Net of tax (254 ) Provision for income taxes $ 493 Net income Amortization of postretirement benefit plan Amortization of actuarial loss for supplemental executive retirement plan (14 ) Salaries and benefits Tax (expense) or benefit 5 Provision for income taxes Net of tax $ (9 ) Net income Total reclassification for the period $ 484 Net income, net of tax |
Financial Derivative Instrument
Financial Derivative Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Financial Derivative Instruments [Abstract] | |
Financial Derivative Instruments | Note 8: Financial Derivative Instruments As part of its overall asset and liability management strategy, the Bank periodically uses derivative instruments to minimize significant unplanned fluctuations in earnings and cash flows caused by interest rate volatility. The Bank's interest rate risk management strategy involves modifying the re-pricing characteristics of certain assets or liabilities so that changes in interest rates do not have a significant effect on net interest income. The Company recognizes its derivative instruments on the consolidated balance sheet at fair value. On the date the derivative instrument is entered into, the Bank designates whether the derivative is part of a hedging relationship (i.e., cash flow or fair value hedge). The Bank formally documents relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking hedge transactions. The Bank also assesses, both at the hedge's inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting the changes in cash flows or fair values of hedged items. Changes in fair value of derivative instruments that are highly effective and qualify as cash flow hedges are recorded in other comprehensive income or loss. Any ineffective portion is recorded in earnings. The Bank discontinues hedge accounting when it is determined that the derivative is no longer highly effective in offsetting changes of the hedged risk on the hedged item, or management determines that the designation of the derivative as a hedging instrument is no longer appropriate. At June 30, 2015, the Bank had four 90,000 The details of the Bank's financial derivative instruments as of June 30, 2015 are summarized below: Interest Rate Cap Agreements 3-Month Unamortized Cumulative Notional Termination LIBOR Premium Premium at Fair Value Cash Flows Amount Date Strike Rate Paid June 30, 2015 June 30, 2015 Received $ 25,000 06/02/21 3.00 % $ 922 $ 922 $ 509 $ --- $ 20,000 06/04/24 3.00 % $ 1,470 $ 1,470 $ 954 $ --- $ 20,000 10/21/21 3.00 % $ 632 $ 632 $ 462 $ --- $ 25,000 10/21/24 3.00 % $ 1,542 $ 1,542 $ 1,281 $ --- In 2014, interest rate cap agreements were purchased to limit the Bank's exposure to rising interest rates on four rolling, three-month borrowings indexed to three month LIBOR. Under the terms of the agreements, the Bank paid total premiums of $ 4,566 3.00 3.00 At June 30, 2015, the total fair value of the interest rate cap agreements was $ 3,206 The premiums paid on the interest rate cap agreements are being recognized as increases in interest expense over the duration of the agreements using the caplet method. For the six months ended June 30, 2015, no 12 A summary of the hedging related balances as of June 30, 2015 and December 31, 2014 follows: June 30, 2015 Gross Net of Tax Unrealized losses on interest rate caps $ (1,360 ) $ (884 ) Unamortized premium on interest rate caps 4,566 2,968 Total $ 3,206 $ 2,084 December 31, 2014 Gross Net of Tax Unrealized losses on interest rate caps $ (1,111 ) $ (722 ) Unamortized premium on interest rate caps 4,566 2,968 Total $ 3,455 $ 2,246 |
Retirement Benefit Plans
Retirement Benefit Plans | 6 Months Ended |
Jun. 30, 2015 | |
Retirement Benefit Plans [Abstract] | |
Retirement Benefit Plans | Note 9: Retirement Benefit Plans The Company has non-qualified supplemental executive retirement agreements with certain retired officers. The agreements provide supplemental retirement benefits payable in installments over a period of years upon retirement or death. The Company recognized the net present value of payments associated with the agreements over the service periods of the participating officers. Interest costs continue to be recognized on the benefit obligations. The Company also has a supplemental executive retirement agreement with a certain current executive officer. This agreement provides a stream of future payments in accordance with a defined vesting schedule upon retirement, termination, or upon a change of control. The following tables summarize the net periodic benefit costs for the three and six months ended June 30, 2015, and 2014: Supplemental Executive Retirement Plans Three Months Ended June 30, 2015 2014 Service cost $ 19 $ 16 Interest cost 31 38 Actuarial loss on supplemental executive retirement plan, net of tax 8 7 Net periodic benefit cost $ 58 $ 61 Supplemental Executive Retirement Plans Six Months Ended June 30, 2015 2014 Service cost $ 36 $ 32 Interest cost 62 75 Actuarial loss on supplemental executive retirement plan, net of tax 19 14 Net periodic benefit cost $ 117 $ 121 The Company is expected to recognize $ 234 291 145 |
Commitments And Contingent Liab
Commitments And Contingent Liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Commitments And Contingent Liabilities [Abstract] | |
Commitments And Contingent Liabilities | Note 10: Commitments and Contingent Liabilities The Bank is a party to financial instruments in the normal course of business to meet financing needs of its customers. These financial instruments include commitments to extend credit, unused lines of credit, and standby letters of credit. Commitments to originate loans, including unused lines of credit, are agreements to lend to a customer provided there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank uses the same credit policy to make such commitments as it uses for on-balance-sheet items, such as loans. The Bank evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management's credit evaluation of the borrower. The Bank guarantees the obligations or performance of customers by issuing standby letters of credit to third parties. These standby letters of credit are primarily issued in support of third party debt or obligations. The risk involved in issuing standby letters of credit is essentially the same as the credit risk involved in extending loan facilities to customers, and they are subject to the same credit origination, portfolio maintenance and management procedures in effect to monitor other credit and off-balance sheet instruments. Exposure to credit loss in the event of non-performance by the counter-party to the financial instrument for standby letters of credit is represented by the contractual amount of those instruments. Typically, these standby letters of credit have terms of five years or less and expire unused; therefore, the total amounts do not necessarily represent future cash requirements. The following table summarizes the contractual amounts of commitments and contingent liabilities as of June 30, 2015, and December 31, 2014: June 30, December 31, 2015 2014 Commitments to originate loans $ 43,920 $ 21,147 Unused lines of credit $ 88,631 $ 92,817 Un-advanced portions of construction loans $ 15,304 $ 23,434 Standby letters of credit $ 385 $ 325 As of June 30, 2015, and December 31, 2014, the fair value of the standby letters of credit was not significant to the Company's consolidated financial statements. |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill And Other Intangible Assets [Abstract] | |
Goodwill And Other Intangible Assets | Note 11: Goodwill and Other Intangible Assets Goodwill: Goodwill totaled $ 4,935 1,777 Core Deposit Intangible Asset: The Company has a finite-lived intangible asset capitalized on its consolidated balance sheet in the form of a core deposit intangible asset related to the Border Trust Company acquisition. The core deposit intangible is being amortized over an estimated useful life of eight and one-half years and is included in other assets on the Company's consolidated balance sheet. At June 30, 2015, and December 31, 2014, the balance of the core deposit intangible asset amounted to $ 516 562 June 30, December 31, 2015 2014 Core deposit intangibles: Gross carrying amount $ 783 $ 783 Less: accumulated amortization 267 221 Net carrying amount $ 516 $ 562 Amortization expense on the finite-lived intangible assets is expected to total $92 for each year from 2015 through 2020, then $8 for 2021. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 12: Fair Value Measurements The Company measures fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The Company's fair value measurements employ valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the servicing capacity of an asset (replacement cost). Valuation techniques are consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets (Level 1 measurements) for identical assets or liabilities and the lowest priority to unobservable inputs (Level 3 measurements). The fair value hierarchy is as follows: Level 1 – Valuation is based on unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 – Valuation is based on quoted prices for similar instruments in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and model-based techniques for which all significant assumptions are observable in the market. Level 3 – Valuation is principally generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The most significant instruments that the Company values are securities, all of which fall into Level 2 in the fair value hierarchy. The securities in the available for sale portfolio are priced by independent providers. In obtaining such valuation information from third parties, the Company has evaluated their valuation methodologies used to develop the fair values in order to determine whether valuations are appropriately placed within the fair value hierarchy and whether the valuations are representative of an exit price in the Company's principal markets. The Company's principal markets for its securities portfolios are the secondary institutional markets, with an exit price that is predominantly reflective of bid level pricing in those markets. Additionally, the Company periodically tests the reasonableness of the prices provided by these third parties by obtaining fair values from other independent providers and by obtaining desk bids from a variety of institutional brokers. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Securities Available for Sale: All securities and major categories of securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from independent pricing providers. The fair value measurements used by the pricing providers consider observable data that may include dealer quotes, market maker quotes and live trading systems. If quoted prices are not readily available, fair values are determined using matrix pricing models, or other model-based valuation techniques requiring observable inputs other than quoted prices such as market pricing spreads, credit information, callable features, cash flows, the U.S. Treasury yield curve, trade execution data, market consensus prepayment speeds, default rates, and the securities' terms and conditions, among other things. The foregoing valuation methodologies may produce fair value calculations that may not be fully indicative of net realizable value or reflective of future fair values. While Company management believes these valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Level 1 Level 2 Level 3 Total Fair June 30, 2015 Inputs Inputs Inputs Value Securities available for sale: Mortgage-backed securities: US Government-sponsored enterprises $ --- $ 298,138 $ --- $ 298,138 US Government agencies $ --- $ 82,664 $ --- $ 82,664 Private label $ --- $ 3,772 $ --- $ 3,772 Obligations of states and political subdivisions thereof $ --- $ 95,564 $ --- $ 95,564 Derivative assets $ --- $ 3,206 $ --- $ 3,206 Level 1 Level 2 Level 3 Total Fair December 31, 2014 Inputs Inputs Inputs Value Securities available for sale: Mortgage-backed securities: US Government-sponsored enterprises $ --- $ 288,210 $ --- $ 288,210 US Government agencies $ --- $ 83,346 $ --- $ 83,346 Private label $ --- $ 4,524 $ --- $ 4,524 Obligations of states and political subdivisions thereof $ --- $ 94,445 $ --- $ 94,445 Derivative assets $ --- $ 3,455 $ --- $ 3,455 The following tables present the carrying value of certain financial assets and financial liabilities measured at fair value on a non-recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. For the Six Months Level 1 Level 2 Level 3 Fair Value Ended 6/30/15 Inputs Inputs Inputs as of 6/30/15 Loss Other real estate owned $ --- $ --- $ 393 $ 393 $ 20 Collateral dependent impaired loans $ --- $ --- $ 955 $ 955 $ --- Fair Value For the Twelve Months Level 1 Level 2 Level 3 as of Ended 12/31/14 Inputs Inputs Inputs 12/31/14 Loss Other real estate owned $ --- $ --- $ 523 $ 523 $ 397 Collateral dependent impaired loans $ $ --- $ --- $ 1,986 $ 1,986 $ --- The Company had total collateral dependent impaired loans with carrying values of $ 955 1,986 419 776 10 30 In estimating the fair value of OREO, the Company generally uses market appraisals less estimated costs to dispose of the property, which generally range from 10% to 30% of appraised value. Management may also make adjustments to reflect estimated fair value declines, or may apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property or consideration of broker quotes. The appraisers use a market, income, and/or a cost approach in determining the value of the collateral. Therefore they have been categorized as a Level 3 measurement. There were no transfers between levels during the periods presented. |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | Note 13: Fair Value of Financial Instruments The Company discloses fair value information about financial instruments for which it is practicable to estimate fair value. Fair value estimates are made as of a specific point in time based on the characteristics of the financial instruments and relevant market information. Where available, quoted market prices are used. In other cases, fair values are based on estimates using present value or other valuation techniques. These techniques involve uncertainties and are significantly affected by the assumptions used and judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. Changes in assumptions could significantly affect these estimates. Derived fair value estimates cannot be substantiated by comparison to independent markets and, in certain cases, could not be realized in an immediate sale of the instrument. Fair value estimates are based on existing financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Accordingly, the aggregate fair value amounts presented do not purport to represent the underlying market value of the Company. The following describes the methods and significant assumptions used by the Company in estimating the fair values of significant financial instruments: Cash and Cash Equivalents: For cash and cash equivalents, including cash and due from banks and other short-term investments with maturities of 90 days or less, the carrying amounts reported on the consolidated balance sheet approximate fair values. Federal Home Loan Bank stock: For Federal Home Loan Bank stock, the carrying amounts report on the consolidated balance sheet approximate fair values. Loans: For variable rate loans that re-price frequently and have no significant change in credit risk, fair values are based on carrying values. The fair value of other loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Deposits : The fair value of deposits with no stated maturity is equal to the carrying amount. The fair value of time deposits is based on the discounted value of contractual cash flows, applying interest rates currently being offered on wholesale funding products of similar maturities. The fair value estimates for deposits do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of alternative forms of funding ("deposit base intangibles"). Borrowings: For borrowings that mature or re-price in 90 days or less, carrying value approximates fair value. The fair value of the Company's remaining borrowings is estimated by using discounted cash flows based on current rates available for similar types of borrowing arrangements taking into account any optionality. Accrued Interest Receivable and Payable: The carrying amounts of accrued interest receivable and payable approximate their fair values. Off-Balance Sheet Financial Instruments: The Company's off-balance sheet instruments consist of loan commitments and standby letters of credit. Fair values for standby letters of credit were insignificant. A summary of the carrying values and estimated fair values of the Company's significant financial instruments at June 30, 2015 and December 31, 2014, follows: Carrying Level 1 Level 2 Level 3 Total June 30, 2015 Value Inputs Inputs Inputs Fair Value Financial Assets: Cash and cash equivalents $ 17,038 $ 17,038 $ -- $ -- $ 17,038 Federal Home Loan Bank stock 23,593 -- 23,593 -- 23,593 Loans, net 974,145 -- -- 974,463 974,463 Interest receivable 5,785 5,785 -- -- 5,785 Financial liabilities: Deposits (with no stated maturity) $ 459,040 $ -- $ 459,040 $ -- $ 459,040 Time deposits 431,076 -- 432,797 -- 432,797 Borrowings 514,164 -- 514,242 -- 514,242 Interest payable 475 475 -- -- 475 Carrying Level 1 Level 2 Level 3 Total December 31, 2014 Value Inputs Inputs Inputs Fair Value Financial Assets: Cash and cash equivalents $ 9,800 $ 9,800 $ -- $ -- $ 9,800 Federal Home Loan Bank stock 21,354 -- 21,354 -- 21,354 Loans, net 910,055 -- -- 913,784 913,784 Interest receivable 4,795 4,795 -- -- 4,795 Financial liabilities: Deposits (with no stated maturity) $ 479,986 $ --- $ 479,986 $ -- $ 479,986 Time deposits 378,063 -- 379,132 -- 379,132 Borrowings 447,020 -- 447,637 -- 447,637 Interest payable 499 499 -- -- 499 |
Management's Use Of Estimates (
Management's Use Of Estimates (Policy) | 6 Months Ended |
Jun. 30, 2015 | |
Management's Use Of Estimates [Abstract] | |
Allowance For Loan Losses | Allowance for Loan Losses: The allowance for loan losses (the "allowance") is a significant accounting estimate used in the preparation of the Company's consolidated financial statements. The allowance is available to absorb losses on loans and is maintained at a level that, in management's judgment, is appropriate for the amount of risk inherent in the loan portfolio, given past and present conditions. The allowance is increased by provisions charged to operating expense and by recoveries on loans previously charged-off, and is decreased by loans charged-off as uncollectible. Arriving at an appropriate level of allowance involves a high degree of judgment. The determination of the adequacy of the allowance and provisioning for estimated losses is evaluated regularly based on a review of loans, with particular emphasis on non-performing or other loans that management believes warrant special consideration. The ongoing evaluation process includes a formal analysis, which considers among other factors: the nature of the loan portfolios, business and economic conditions, real estate market conditions, collateral values, changes in product offerings or loan terms, loan growth, experience, ability, and depth of management, changes in underwriting and/or collection policies and procedures, changes in volumes of loan portfolios and speed of loan portfolio growth, concentrations to industries or individual borrowers, external factors including industry or regulatory changes, historical charge-off experience, delinquency trends, non-performing loan trends, the performance of individual loans in relation to contract terms, loan loss emergence periods, and estimated fair values of collateral. The allowance consists of allowances established for specific loans including impaired loans; pools of loans based on historical charge-offs by loan types; and supplemental allowances that adjust historical loss experience to reflect current economic conditions, industry specific risks, and other observable data. While management uses available information to recognize losses on loans, changing economic conditions and the economic prospects of the borrowers may necessitate future additions or reductions to the allowance. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance, which also may necessitate future additions or reductions to the allowance, based on information available to them at the time of their examination. |
Other-Than-Temporary Impairments On Investment Securities | Other-Than-Temporary Impairments on Investment Securities : One of the significant estimates relating to securities is the evaluation of other-than-temporary impairment ("OTTI"). If a decline in the fair value of a security is judged to be other-than-temporary, and management does not intend to sell the security and believes it is more-likely-than-not the Company will not be required to sell the security prior to recovery of cost or amortized cost, the portion of the total impairment attributable to the credit loss is recognized in earnings, and the remaining difference between the security's amortized cost basis and its fair value is included in other comprehensive income. For impaired available for sale debt securities that management intends to sell, or where management believes it is more-likely-than-not that the Company will be required to sell, an OTTI charge is recognized in earnings equal to the difference between fair value and cost or amortized cost basis of the security. The fair value of the OTTI security becomes its new cost basis. The evaluation of securities for impairments is a quantitative and qualitative process, which is subject to risks and uncertainties and is intended to determine whether declines in the fair value of securities should be recognized in current period earnings. The risks and uncertainties include changes in general economic conditions, the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads and the expected recovery period of unrealized losses. The Company has a security monitoring process that identifies securities that, due to certain characteristics, as described below, are subjected to an enhanced analysis on a quarterly basis. Securities that are in an unrealized loss position are reviewed at least quarterly to determine if an OTTI is present based on certain quantitative and qualitative factors and measures. The primary factors considered in evaluating whether a decline in value of securities is other-than-temporary include: (a) the cause of the impairment; (b) the financial condition, credit rating and future prospects of the issuer; (c) whether the debtor is current on contractually obligated interest and principal payments; (d) the volatility of the securities' fair value; (e) performance indicators of the underlying assets in the security including default rates, delinquency rates, percentage of non-performing assets, loan to collateral value ratios, conditional payment rates, third party guarantees, current levels of subordination, vintage, and geographic concentration and; (f) any other information and observable data considered relevant in determining whether an OTTI has occurred, including the expectation of the receipt of all principal and interest due. In addition, for securitized financial assets with contractual cash flows, such as private label mortgage-backed securities ("MBS"), the Company periodically updates its best estimate of cash flows over the life of the security. The Company's best estimate of cash flows is based upon assumptions consistent with the current economic environment, similar to those the Company believes market participants would use. If the fair value of a securitized financial asset is less than its cost or amortized cost and there has been an adverse change in timing or amount of anticipated future cash flows since the last revised estimate to the extent that the Company does not expect to receive the entire amount of future contractual principal and interest, an OTTI charge is recognized in earnings representing the estimated credit loss if management does not intend to sell the security and believes it is more-likely-than-not the Company will not be required to sell the security prior to recovery of cost or amortized cost. Estimating future cash flows is a quantitative and qualitative process that incorporates information received from third party sources along with certain assumptions and judgments regarding the future performance of the underlying collateral. In addition, projections of expected future cash flows may change based upon new information regarding the performance of the underlying collateral. |
Income Taxes | Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. If current available information indicates that it is more-likely-than-not that deferred tax assets will not be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Significant management judgment is required in determining income tax expense and deferred tax assets and liabilities. As of June 30, 2015, and December 31, 2014, there was no valuation allowance for deferred tax assets. |
Goodwill And Identifiable Intangible Assets | Goodwill and Identifiable Intangible Assets: In connection with acquisitions, the Company generally records as assets on its consolidated financial statements both goodwill and identifiable intangible assets, such as core deposit intangibles. The Company evaluates whether the carrying value of its goodwill has become impaired, in which case the value is reduced through a charge to its earnings. Goodwill is evaluated for impairment at least annually, or upon a triggering event using certain fair value techniques. Goodwill impairment testing is performed at the segment (or "reporting unit") level. Goodwill is assigned to reporting units at the date the goodwill is initially recorded. Once goodwill has been assigned to the reporting units, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or organically grown, are available to support the value of the goodwill. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in accordance with the purchase method of accounting for business combinations. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis or more frequently if an event occurs or circumstances change that reduce the fair value of a reporting unit below its carrying amount. The Company completes its annual goodwill impairment test as of December 31 of each year. The impairment testing process is conducted by assigning assets and goodwill to each reporting unit. Currently, the Company's goodwill is evaluated at the entity level as there is only one reporting unit. The Company first assesses certain qualitative factors to determine if it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value. If it is more-likely-than-not that the fair value of the reporting unit is less than the carrying value, then the fair value of each reporting unit is compared to the recorded book value "step one." If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and "step two" is not considered necessary. If the carrying value of a reporting unit exceeds its fair value, the impairment test continues ("step two") by comparing the carrying value of the reporting unit's goodwill to the implied fair value of goodwill. The implied fair value is computed by adjusting all assets and liabilities of the reporting unit to current fair value with the offset adjustment to goodwill. The adjusted goodwill balance is the implied fair value of the goodwill. An impairment charge is recognized if the carrying fair value of goodwill exceeds the implied fair value of goodwill. At December 31, 2014, there was no indication of impairment that led the Company to believe it needed to perform a two-step test. Any changes in the estimates used by the Company to determine the carrying value of its goodwill, or which otherwise adversely affect their value or estimated lives, would adversely affect the Company's consolidated results of operations. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Reconciliation Of Basic And Diluted Earnings Per Share | Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income available to common shareholders $ 3,873 $ 3,857 $ 7,754 $ 7,644 Weighted average common shares outstanding Basic 5,973,758 5,921,025 5,963,704 5,916,387 Effect of dilutive employee stock options and awards 90,655 39,817 86,418 40,114 Diluted 6,064,413 5,960,842 6,050,122 5,956,501 Anti-dilutive options excluded from earnings per share calculation 10,950 93,093 11,197 97,482 Per Common Share Data: Basic earnings per share $ 0.65 $ 0.65 $ 1.30 $ 1.29 Diluted earnings per share $ 0.64 $ 0.65 $ 1.28 $ 1.28 |
Securities Available For Sale (
Securities Available For Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available For Sale [Abstract] | |
Summary Of Securities Available For Sale | June 30, 2015 Gross Gross Amortized Unrealized Unrealized Estimated Available for Sale: Cost Gains Losses Fair Value Mortgage-backed securities: US Government-sponsored enterprises $ 294,017 $ 6,535 $ 2,414 $ 298,138 US Government agency 81,698 1,601 635 82,664 Private label 3,034 745 7 3,772 Obligations of states and political subdivisions thereof 94,154 2,517 1,107 95,564 Total $ 472,903 $ 11,398 $ 4,163 $ 480,138 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Estimated Available for Sale: Cost Gains Losses Fair Value Mortgage-backed securities: US Government-sponsored enterprises $ 282,217 $ 7,530 $ 1,537 $ 288,210 US Government agency 82,249 1,626 529 83,346 Private label 3,723 815 14 4,524 Obligations of states and political subdivisions thereof 90,181 4,516 252 94,445 Total $ 458,370 $ 14,487 $ 2,332 $ 470,525 |
Schedule Of Maturities Distribution Of The Amortized Cost And Estimated Fair Value Of Securities Available For Sale | Amortized Estimated Securities Available for Sale Cost Fair Value Due one year or less $ 8 $ 8 Due after one year through five years 5,530 5,603 Due after five years through ten years 15,602 16,333 Due after ten years 451,763 458,194 Total $ 472,903 $ 480,138 |
Schedule Of OTTI Related To Historical Estimated Credit Losses On Debt Securities And Changes In Estimated Credit Losses Recognized In Pre-Tax Earnings | 2015 2014 Estimated credit losses as of March 31, $ 3,413 $ 3,413 Additions for credit losses for securities on which OTTI has been previously recognized - -- - -- Additions for credit losses for securities on which OTTI has not been previously recognized - -- - -- Reductions for securities paid off during the period 233 - -- Estimated credit losses as of June 30, $ 3,180 $ 3,413 2015 2014 Estimated credit losses as of prior year-end, $ 3,413 $ 3,923 Additions for credit losses for securities on which OTTI has been previously recognized - -- - -- Additions for credit losses for securities on which OTTI has not been previously recognized - -- - -- Reductions for securities paid off during the period 233 510 Estimated credit losses as of June 30, $ 3,180 $ 3,413 |
Schedule Of Fair Value Of Securities With Continuous Unrealized Losses | Less than 12 months 12 months or longer Total Estimated Estimated Estimated June 30, 2015 Fair Number of Unrealized Fair Number of Unrealized Fair Number of Unrealized Value Investments Losses Value Investments Losses Value Investments Losses Description of Securities: Mortgage-backed securities: US Government- sponsored enterprises $ 82,334 105 $ 1,486 $ 22,933 31 $ 928 $ 105,267 136 $ 2,414 US Government agency 18,747 32 335 13,588 20 300 32,335 52 635 Private label 52 1 1 139 4 6 191 5 7 Obligations of states and political subdivisions thereof 39,759 14 871 4,223 81 236 43,982 95 1,107 Total $ 140,892 152 $ 2,693 $ 40,883 136 $ 1,470 $ 181,775 288 $ 4,163 Less than 12 months 12 months or longer Total Estimated Estimated Estimated December 31, 2014 Fair Number of Unrealized Fair Number of Unrealized Fair Number of Unrealized Value Investments Losses Value Investments Losses Value Investments Losses Description of Securities: Mortgage-backed securities: US Government- sponsored enterprises $ 45,899 53 $ 1,168 $ 35,511 45 $ 369 $ 81,410 98 $ 1,537 US Government agency 19,404 24 483 3,657 21 46 23,061 45 529 Private label 336 4 7 145 4 7 481 8 14 Obligations of states and political subdivisions thereof 12,549 28 240 2,724 5 12 15,273 33 252 Total $ 78,188 109 $ 1,898 $ 42,037 75 $ 434 $ 120,225 184 $ 2,332 |
Schedule Of Realized Gains And Losses And Other-Than-Temporary Impairment Losses On Securities | Proceeds Other from Sale of Than Securities Temporary Available Realized Realized Impairment for Sale Gains Losses Losses Net Three months ended June 30, 2015 $ 11,487 $ 587 $ --- $ --- $ 587 2014 $ 11,908 $ 385 $ 35 $ --- $ 350 Six months ended June 30, 2015 $ 20,428 $ 1,206 $ --- $ --- $ 1,206 2014 $ 22,221 $ 782 $ 35 $ --- $ 747 |
Loans And Allowance For Loan 26
Loans And Allowance For Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans And Allowance For Loan Losses [Abstract] | |
Summary Of Composition Of Loan Portfolio | June 30, December 31, 2015 2014 Commercial real estate mortgages $ 354,129 $ 325,949 Commercial and industrial 88,202 73,893 Commercial construction and land development 34,420 25,421 Agricultural and other loans to farmers 33,534 30,471 Total commercial loans 510,285 455,734 Residential real estate mortgages 393,755 382,678 Home equity loans 51,794 51,795 Other consumer loans 11,141 12,140 Total consumer loans 456,690 446,613 Tax exempt loans 16,146 16,693 Net deferred loan costs and fees 123 (16 ) Total loans 983,244 919,024 Allowance for loan losses (9,099 ) (8,969 ) Total loans net of allowance for loan losses $ 974,145 $ 910,055 |
Summary Of Non-Performing Loans | June 30, December 31, 2015 2014 Commercial real estate mortgages $ 2,430 $ 3,156 Commercial and industrial loans 322 624 Commercial construction and land development 1,260 1,328 Agricultural and other loans to farmers 71 84 Total commercial loans 4,083 5,192 Residential real estate mortgages 3,551 6,051 Home equity loans 1,191 1,029 Other consumer loans 15 16 Total consumer loans 4,757 7,096 Total non-accrual loans 8,840 12,288 Accruing loans contractually past due 90 days or more - -- - -- Total non-performing loans $ 8,840 $ 12,288 |
Summary Of Troubled Debt Restructures | For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2015 Post - Pre-Modification Post-Modification Pre-Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of Loans Investment Investment of Loans Investment Investment Agricultural and other loans to farmers - -- $ --- $ --- 1 18 17 Total commercial loans - -- - -- - -- 1 18 17 Residential real estate mortgages 2 $ 795 $ 794 3 $ 1,267 $ 1,266 Total consumer loans 2 795 794 3 1,267 1,266 Total 2 $ 795 $ 794 4 $ 1,285 $ 1,283 |
Past Due Financing Receivable Post Modification Balances | June 30, 2015 Three Six Months Months Ended Ended Extended maturity and adjusted interest rate $ --- $ 489 Adjusted payment 607 607 Adjusted payment and capitalized interest 187 187 Total $ 794 $ 1,283 |
Schedule Of Past Due Loans | >90 Days June 30, 2015 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 394 $ 285 $ 1,530 $ 2,209 $ 351,920 $ 354,129 $ 2,430 $ --- Commercial and industrial 87 16 298 401 87,801 88,202 322 --- Commercial construction and land development - -- - -- 1,260 1,260 33,160 34,420 1,260 --- Agricultural and other loans to farmers 95 - -- 54 149 33,385 33,534 71 --- Residential real estate mortgages 2,209 683 1,446 4,338 389,417 393,755 3,551 --- Home equity 25 173 1,005 1,203 50,591 51,794 1,191 --- Other consumer loans 42 17 2 61 11,080 11,141 15 --- Tax exempt - -- - -- - -- - -- 16,146 16,146 - -- --- Total $ 2,852 $ 1,174 $ 5,595 $ 9,621 $ 973,500 $ 983,121 $ 8,840 $ --- >90 Days December 31, 2014 30-59 60-89 90 Days Past Due Days Days or Total Total Non - and Past Due Past Due Greater Past Due Current Loans Accrual Accruing Commercial real estate mortgages $ 189 $ 234 $ 1,843 $ 2,266 $ 323,683 $ 325,949 $ 3,156 $ --- Commercial and industrial 665 45 333 1,043 72,850 73,893 624 --- Commercial construction and land development - -- - -- 1,328 1,328 24,093 25,421 1,328 --- Agricultural and other loans to farmers 27 - -- 64 91 30,380 30,471 84 --- Residential real estate mortgages 1,980 547 1,681 4,208 378,470 382,678 6,051 --- Home equity 138 40 575 753 51,042 51,795 1,029 --- Other consumer loans 231 5 7 243 11,897 12,140 16 --- Tax exempt - -- - -- - -- - -- 16,693 16,693 - -- --- Total $ 3,230 $ 871 $ 5,831 $ 9,932 $ 909,108 $ 919,040 $ 12,288 $ --- |
Schedule Of Impaired Loans | Details of impaired loans for the three and six months ended June 30, 2015 and 2014 follows: June 30, 2015 December 31, 2014 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no related allowance: Commercial real estate mortgages $ 2,191 $ 2,314 $ --- $ 1,606 $ 1,606 $ --- Commercial and industrial 299 449 - -- 309 309 - -- Commercial construction - -- - -- and land development 1,260 3,185 1,328 3,253 Agricultural and other loans to farmers 112 112 - -- 181 181 - -- Residential real estate loans 1,465 1,615 - -- 389 419 - -- Home equity loans 18 212 - -- - -- - -- - -- Other consumer - -- - -- - -- - -- - -- - -- Subtotal $ 5,345 $ 7,887 $ --- $ 3,813 $ 5,768 $ --- With an allowance: Commercial real estate mortgages $ 955 $ 955 $ 419 $ 1,986 $ 2,014 $ 776 Commercial and industrial 170 320 169 325 555 187 Commercial construction - -- - -- - -- and land development - -- - -- - -- Agricultural and other loans to farmers 54 54 47 - -- - -- - -- Residential real estate loans 187 187 40 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- Other consumer 9 9 1 10 10 1 Subtotal $ 1,375 $ 1,525 $ 676 $ 2,321 $ 2,579 $ 964 Total $ 6,720 $ 9,412 $ 676 $ 6,134 $ 8,347 $ 964 Details of impaired loans as of June 30, 2015 and December 31, 2014 follows: June 30, 2015 June 30, 2014 Three Months Ended Six Months Ended Three Months Ended Six Months Ended Average Average Average Average Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Recorded Investment Recorded Investment Recorded Investment Recorded With no related allowance: Commercial real estate mortgages $ 2,413 $ 7 $ 2,698 $ 14 $ 2,075 $ 16 $ 2,191 $ 31 Commercial and industrial 441 3 446 5 764 1 754 2 Commercial construction and land development 1,260 - -- 1,260 - -- 1,504 - -- 1,702 - -- Agricultural and other loans to farmers 113 2 118 4 60 - -- 61 - -- Residential real estate mortgages 1,498 13 1,483 25 491 3 492 6 Home equity loans 18 - -- 19 1 20 1 20 1 Other consumer - -- - -- - -- - -- 12 - -- 12 - -- Subtotal $ 5,743 $ 25 $ 6,024 $ 49 $ 4,926 $ 21 $ 5,232 $ 40 With an allowance: Commercial real estate mortgages $ 955 $ --- $ 955 $ --- $ 297 $ --- $ 379 $ --- Commercial and industrial 170 - -- 170 - -- 536 - -- 389 - -- Commercial construction - -- and land development - -- - -- - -- - -- - -- - -- - -- Agricultural and other - -- - -- loans to farmers 54 - -- 54 - -- - -- - -- Residential real - -- - -- estate mortgages 184 - -- 183 - -- - -- - -- Home equity loans - -- - -- - -- - -- - -- - -- - -- - -- Other consumer 10 - -- 10 - -- - -- - -- - -- - -- Subtotal $ 1,373 $ --- $ 1,372 $ --- $ 833 $ --- $ 768 $ --- Total $ 7,116 $ 25 $ 7,396 $ 49 $ 5,759 $ 21 $ 6,000 $ 40 |
Schedule Of Loans With Credit Quality Indicators | Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to June 30, 2015 mortgages industrial development farmers Total Pass $ 326,979 $ 82,590 $ 32,657 $ 33,128 $ 475,354 Other Assets Especially Mentioned 8,978 2,787 503 190 12,458 Substandard 17,006 2,825 1,260 216 21,307 Doubtful 1,166 - -- - -- - -- 1,166 Loss - -- - -- - -- - -- - -- Total $ 354,129 $ 88,202 $ 34,420 $ 33,534 $ 510,285 Commercial Agricultural Commercial Commercial construction and other real estate and and land loans to December 31, 2014 mortgages industrial development farmers Total Pass $ 302,376 $ 62,226 $ 23,290 $ 30,047 $ 417,939 Other Assets Especially Mentioned 11,501 7,349 - -- 193 19,043 Substandard 12,072 4,318 2,131 231 18,752 Doubtful - -- - -- - -- - -- - -- Loss - -- - -- - -- - -- - -- Total $ 325,949 $ 73,893 $ 25,421 $ 30,471 $ 455,734 |
Schedule Of Allowance For Loan Losses By Portfolio Segment | Commercial Three Months Commercial Construction Ended June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,500 $ 1,074 $ 107 $ 334 $ 2,875 $ 145 $ 367 $ 76 $ 9,478 Charged Off (181 ) (213 ) - -- - -- (70 ) (14 ) (311 ) - -- (789 ) Recoveries 5 1 - -- - 4 - -- - -- 10 Provision (35 ) 285 38 38 (320 ) (25 ) 416 3 400 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099 Commercial Six Months Ended Commercial Construction June 30, 2015 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,468 $ 929 $ 145 $ 277 $ 2,714 $ 94 $ 271 $ 71 $ 8,969 Charged Off (206 ) (288 ) - -- (18 ) (70 ) (25 ) (351 ) - -- (958 ) Recoveries 39 2 - -- 12 129 11 - -- - -- 193 Provision (12 ) 504 - -- 101 (288 ) 30 552 8 895 Ending Balance $ 4,289 $ 1,147 $ 145 $ 372 $ 2,485 $ 110 $ 472 $ 79 $ 9,099 of which: Amount for loans individually evaluated for impairment $ 419 $ 169 $ - -- $ 47 $ 40 $ --- $ 1 $ --- $ 676 Amount for loans collectively evaluated for impairment $ 3,870 $ 978 $ 145 $ 325 $ 2,445 $ 110 $ 471 $ 79 $ 8,423 Loans individually evaluated for impairment $ 2,992 $ 469 $ 1,260 $ 166 $ 1,180 $ 9 $ --- $ --- $ 6,076 Loans collectively evaluated for impairment $ 351,137 $ 87,733 $ 33,160 $ 33,368 $ 392,575 $ 11,132 $ 51,794 $ 16,146 $ 977,045 Commercial Three Months Commercial Construction Ended June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,735 $ 1,654 $ 231 $ 350 $ 1,128 $ 206 $ 239 $ 179 $ 8,722 Charged Off (165 ) (88 ) - -- - -- (125 ) (63 ) - -- - -- (441 ) Recoveries - -- 10 - -- 15 11 6 - -- - -- 42 Provision 317 (3 ) 23 6 135 (46 ) 2 (6 ) 428 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751 Commercial Six Months Ended Commercial Construction June 30, 2014 Commercial and and land Residential Home Tax Real Estate Industrial development Agricultural Real Estate Consumer Equity Exempt Total Beginning Balance $ 4,825 $ 1,266 $ 314 $ 335 $ 1,166 $ 137 $ 264 $ 168 $ 8,475 Charged Off (165 ) (99 ) - -- (14 ) (293 ) (80 ) (18 ) - -- (669 ) Recoveries 6 12 - -- 15 12 15 - -- - -- 60 Provision 221 394 (60 ) 35 264 31 (5 ) 5 885 Ending Balance $ 4,887 $ 1,573 $ 254 $ 371 $ 1,149 $ 103 $ 241 $ 173 $ 8,751 |
Reclassifications Out Of Accu27
Reclassifications Out Of Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Reclassifications Out Of Accumulated Other Comprehensive Income [Abstract] | |
Reclassifications Out Of Accumulated Other Comprehensive Income | Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Details about Accumulated Other Comprehensive Income June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities Tax (expense) or benefit $ 1,206 Net (losses) gain on sales of investments Net of tax (422 ) Provision for income taxes $ 784 Net income Amortization of postretirement benefit plan Amortization of actuarial loss for supplemental executive retirement plan (19 ) Salaries and benefits Tax (expense) or benefit 7 Provision for income taxes Net of tax $ (12 ) Net income Total reclassification for the period $ 772 Net (loss) income, net of tax Affected Line Item in the Statement Where Net Details about Accumulated Other Comprehensive Income June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities Tax (expense) or benefit $ 747 Net gain on sales of investments Net of tax (254 ) Provision for income taxes $ 493 Net income Amortization of postretirement benefit plan Amortization of actuarial loss for supplemental executive retirement plan (14 ) Salaries and benefits Tax (expense) or benefit 5 Provision for income taxes Net of tax $ (9 ) Net income Total reclassification for the period $ 484 Net income, net of tax |
Financial Derivative Instrume28
Financial Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Financial Derivative Instruments [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | 3-Month Unamortized Cumulative Notional Termination LIBOR Premium Premium at Fair Value Cash Flows Amount Date Strike Rate Paid June 30, 2015 June 30, 2015 Received $ 25,000 06/02/21 3.00 % $ 922 $ 922 $ 509 $ --- $ 20,000 06/04/24 3.00 % $ 1,470 $ 1,470 $ 954 $ --- $ 20,000 10/21/21 3.00 % $ 632 $ 632 $ 462 $ --- $ 25,000 10/21/24 3.00 % $ 1,542 $ 1,542 $ 1,281 $ --- |
Schedule of Interest Rate Derivatives | June 30, 2015 Gross Net of Tax Unrealized losses on interest rate caps $ (1,360 ) $ (884 ) Unamortized premium on interest rate caps 4,566 2,968 Total $ 3,206 $ 2,084 December 31, 2014 Gross Net of Tax Unrealized losses on interest rate caps $ (1,111 ) $ (722 ) Unamortized premium on interest rate caps 4,566 2,968 Total $ 3,455 $ 2,246 |
Retirement Benefit Plans (Table
Retirement Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Retirement Benefit Plans [Abstract] | |
Summary Of Net Periodic Benefit Costs | Supplemental Executive Retirement Plans Three Months Ended June 30, 2015 2014 Service cost $ 19 $ 16 Interest cost 31 38 Actuarial loss on supplemental executive retirement plan, net of tax 8 7 Net periodic benefit cost $ 58 $ 61 Supplemental Executive Retirement Plans Six Months Ended June 30, 2015 2014 Service cost $ 36 $ 32 Interest cost 62 75 Actuarial loss on supplemental executive retirement plan, net of tax 19 14 Net periodic benefit cost $ 117 $ 121 |
Commitments And Contingent Li30
Commitments And Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments And Contingent Liabilities [Abstract] | |
Schedule Of Contractual Amounts Of Commitments And Contingent Liabilities | June 30, December 31, 2015 2014 Commitments to originate loans $ 43,920 $ 21,147 Unused lines of credit $ 88,631 $ 92,817 Un-advanced portions of construction loans $ 15,304 $ 23,434 Standby letters of credit $ 385 $ 325 |
Goodwill And Other Intangible31
Goodwill And Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill And Other Intangible Assets [Abstract] | |
Schedule Of Core Deposits Intangible Assets | June 30, December 31, 2015 2014 Core deposit intangibles: Gross carrying amount $ 783 $ 783 Less: accumulated amortization 267 221 Net carrying amount $ 516 $ 562 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Measurements [Abstract] | |
Financial Assets And Financial Liabilities Measured At Fair Value On A Recurring Basis | Level 1 Level 2 Level 3 Total Fair June 30, 2015 Inputs Inputs Inputs Value Securities available for sale: Mortgage-backed securities: US Government-sponsored enterprises $ --- $ 298,138 $ --- $ 298,138 US Government agencies $ --- $ 82,664 $ --- $ 82,664 Private label $ --- $ 3,772 $ --- $ 3,772 Obligations of states and political subdivisions thereof $ --- $ 95,564 $ --- $ 95,564 Derivative assets $ --- $ 3,206 $ --- $ 3,206 Level 1 Level 2 Level 3 Total Fair December 31, 2014 Inputs Inputs Inputs Value Securities available for sale: Mortgage-backed securities: US Government-sponsored enterprises $ --- $ 288,210 $ --- $ 288,210 US Government agencies $ --- $ 83,346 $ --- $ 83,346 Private label $ --- $ 4,524 $ --- $ 4,524 Obligations of states and political subdivisions thereof $ --- $ 94,445 $ --- $ 94,445 Derivative assets $ --- $ 3,455 $ --- $ 3,455 |
Financial Assets And Financial Liabilities Measured At Fair Value On A Non-Recurring Basis | For the Six Months Level 1 Level 2 Level 3 Fair Value Ended 6/30/15 Inputs Inputs Inputs as of 6/30/15 Loss Other real estate owned $ --- $ --- $ 393 $ 393 $ 20 Collateral dependent impaired loans $ --- $ --- $ 955 $ 955 $ --- Fair Value For the Twelve Months Level 1 Level 2 Level 3 as of Ended 12/31/14 Inputs Inputs Inputs 12/31/14 Loss Other real estate owned $ --- $ --- $ 523 $ 523 $ 397 Collateral dependent impaired loans $ $ --- $ --- $ 1,986 $ 1,986 $ --- |
Fair Value Of Financial Instr33
Fair Value Of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Of Financial Instruments [Abstract] | |
Summary Of The Carrying Values And Estimated Fair Values Of Financial Instruments | Carrying Level 1 Level 2 Level 3 Total June 30, 2015 Value Inputs Inputs Inputs Fair Value Financial Assets: Cash and cash equivalents $ 17,038 $ 17,038 $ -- $ -- $ 17,038 Federal Home Loan Bank stock 23,593 -- 23,593 -- 23,593 Loans, net 974,145 -- -- 974,463 974,463 Interest receivable 5,785 5,785 -- -- 5,785 Financial liabilities: Deposits (with no stated maturity) $ 459,040 $ -- $ 459,040 $ -- $ 459,040 Time deposits 431,076 -- 432,797 -- 432,797 Borrowings 514,164 -- 514,242 -- 514,242 Interest payable 475 475 -- -- 475 Carrying Level 1 Level 2 Level 3 Total December 31, 2014 Value Inputs Inputs Inputs Fair Value Financial Assets: Cash and cash equivalents $ 9,800 $ 9,800 $ -- $ -- $ 9,800 Federal Home Loan Bank stock 21,354 -- 21,354 -- 21,354 Loans, net 910,055 -- -- 913,784 913,784 Interest receivable 4,795 4,795 -- -- 4,795 Financial liabilities: Deposits (with no stated maturity) $ 479,986 $ --- $ 479,986 $ -- $ 479,986 Time deposits 378,063 -- 379,132 -- 379,132 Borrowings 447,020 -- 447,637 -- 447,637 Interest payable 499 499 -- -- 499 |
Three-for-two Common Stock Sp34
Three-for-two Common Stock Split (Details) | Apr. 22, 2014shares | Apr. 23, 2014shares |
Three-for-two Common Stock Split [Abstract] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.5 | |
Common Stock, Shares, Outstanding | 3,944,290 | 5,916,435 |
Earnings Per Share (Reconciliat
Earnings Per Share (Reconciliation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Net income available to common shareholders | $ 3,873 | $ 3,857 | $ 7,754 | $ 7,644 |
Weighted average common shares outstanding | ||||
Basic | 5,973,758 | 5,921,025 | 5,963,704 | 5,916,387 |
Effect of dilutive employee stock options and awards | 90,655 | 39,817 | 86,418 | 40,114 |
Diluted | 6,064,413 | 5,960,842 | 6,050,122 | 5,956,501 |
Anti-dilutive options excluded from earnings per share calculation | 10,950 | 93,093 | 11,197 | 97,482 |
Per Common Share Data: | ||||
Basic earnings per share | $ 0.65 | $ 0.65 | $ 1.30 | $ 1.29 |
Diluted earnings per share | $ 0.64 | $ 0.65 | $ 1.28 | $ 1.28 |
Securities Available For Sale36
Securities Available For Sale (Narrative) (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015USD ($)security | Dec. 31, 2014USD ($) | |
Schedule of Available for sale Securities [Line Items] | ||
Securities recognized as credit losses in excess of the unrealized losses in accumulated OCI, creating an unrealized gain | security | 11 | |
Total other-than-temporary impairment ("OTTI") losses | $ 0 | |
Unrealized gain, net of tax | 491,000 | $ 478,000 |
Unrealized losses on securities | 4,163,000 | 2,332,000 |
Obligations Of States And Political Subdivisions Thereof [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Unrealized losses on securities | $ 1,107,000 | 252,000 |
Private Label Mortgage-Backed Securities [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Private-label MBS (debt securities), amount held | security | 11 | |
Amortized cost included OTTI losses | $ 1,456,000 | |
Unrealized losses on securities | 7,000 | 14,000 |
US Government Agency [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Unrealized losses on securities | 635,000 | 529,000 |
US Government-Sponsored Enterprises [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Unrealized losses on securities | $ 2,414,000 | $ 1,537,000 |
Securities Available For Sale37
Securities Available For Sale (Summary Of Securities Available For Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available for sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | $ 472,903 | $ 458,370 |
Available for Sale, Gross Unrealized Gains | 11,398 | 14,487 |
Available for Sale, Gross Unrealized Losses | 4,163 | 2,332 |
Available for Sale, Estimated Fair Value | 480,138 | 470,525 |
US Government-Sponsored Enterprises [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 294,017 | 282,217 |
Available for Sale, Gross Unrealized Gains | 6,535 | 7,530 |
Available for Sale, Gross Unrealized Losses | 2,414 | 1,537 |
Available for Sale, Estimated Fair Value | 298,138 | 288,210 |
US Government Agency [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 81,698 | 82,249 |
Available for Sale, Gross Unrealized Gains | 1,601 | 1,626 |
Available for Sale, Gross Unrealized Losses | 635 | 529 |
Available for Sale, Estimated Fair Value | 82,664 | 83,346 |
Private Label Mortgage-Backed Securities [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 3,034 | 3,723 |
Available for Sale, Gross Unrealized Gains | 745 | 815 |
Available for Sale, Gross Unrealized Losses | 7 | 14 |
Available for Sale, Estimated Fair Value | 3,772 | 4,524 |
Obligations Of States And Political Subdivisions Thereof [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 94,154 | 90,181 |
Available for Sale, Gross Unrealized Gains | 2,517 | 4,516 |
Available for Sale, Gross Unrealized Losses | 1,107 | 252 |
Available for Sale, Estimated Fair Value | $ 95,564 | $ 94,445 |
Securities Available For Sale38
Securities Available For Sale (Schedule Of Maturities Distribution Of The Amortized Cost And Estimated Fair Value Of Securities Available For Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Available For Sale [Abstract] | ||
Amortized Cost, Due one year of less | $ 8 | |
Amortized Cost, Due after one year through five years | 5,530 | |
Amortized Cost, Due after five years through ten years | 15,602 | |
Amortized Cost, Due after ten years | 451,763 | |
Securities Available for Sale, Amortized Cost | 472,903 | $ 458,370 |
Estimated Fair Value, Due one year of less | 8 | |
Estimated Fair Value, Due after one year through five years | 5,603 | |
Estimated Fair Value, Due after five years through ten years | 16,333 | |
Estimated Fair Value, Due after ten years | 458,194 | |
Securities Available for Sale, Estimated Fair Value | $ 480,138 | $ 470,525 |
Securities Available For Sale39
Securities Available For Sale (Schedule Of OTTI Related To Historical Estimated Credit Losses On Debt Securities And Changes In Estimated Credit Losses Recognized In Pre-Tax Earnings) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Securities Available For Sale [Abstract] | ||||
Estimated credit losses as of beginning of period | $ 3,413 | $ 3,413 | $ 3,413 | $ 3,923 |
Additions for credit losses for securities on which OTTI has been previously recognized | ||||
Additions for credit losses for securities on which OTTI has not been previously recognized | ||||
Reductions for securities paid off during the period | $ 233 | $ 233 | $ 510 | |
Estimated credit losses as of ending of period | $ 3,180 | $ 3,413 | $ 3,180 | $ 3,413 |
Securities Available For Sale40
Securities Available For Sale (Schedule Of Fair Value Of Securities With Continuous Unrealized Losses) (Details) $ in Thousands | Jun. 30, 2015USD ($)security | Dec. 31, 2014USD ($)security |
Schedule of Available for sale Securities [Line Items] | ||
Securities with continuous unrealized losses, Less than 12 months, Estimated Fair Value | $ 140,892 | $ 78,188 |
Securities with continuous unrealized losses, Less than 12 months, Number of Investments | security | 152 | 109 |
Securities with continuous unrealized losses, Less than 12 months, Unrealized Losses | $ 2,693 | $ 1,898 |
Securities with continuous unrealized losses, 12 months or longer, Estimated Fair Value | $ 40,883 | $ 42,037 |
Securities with continuous unrealized losses, 12 months or longer, Number of Investments | security | 136 | 75 |
Securities with continuous unrealized losses, 12 months or longer, Unrealized Losses | $ 1,470 | $ 434 |
Securities with continuous unrealized losses, Estimated Fair Value | $ 181,775 | $ 120,225 |
Securities with continuous unrealized losses, Number of Investments | security | 288 | 184 |
Securities with continuous unrealized losses, Unrealized Losses | $ 4,163 | $ 2,332 |
US Government-Sponsored Enterprises [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Securities with continuous unrealized losses, Less than 12 months, Estimated Fair Value | $ 82,334 | $ 45,899 |
Securities with continuous unrealized losses, Less than 12 months, Number of Investments | security | 105 | 53 |
Securities with continuous unrealized losses, Less than 12 months, Unrealized Losses | $ 1,486 | $ 1,168 |
Securities with continuous unrealized losses, 12 months or longer, Estimated Fair Value | $ 22,933 | $ 35,511 |
Securities with continuous unrealized losses, 12 months or longer, Number of Investments | security | 31 | 45 |
Securities with continuous unrealized losses, 12 months or longer, Unrealized Losses | $ 928 | $ 369 |
Securities with continuous unrealized losses, Estimated Fair Value | $ 105,267 | $ 81,410 |
Securities with continuous unrealized losses, Number of Investments | security | 136 | 98 |
Securities with continuous unrealized losses, Unrealized Losses | $ 2,414 | $ 1,537 |
US Government Agency [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Securities with continuous unrealized losses, Less than 12 months, Estimated Fair Value | $ 18,747 | $ 19,404 |
Securities with continuous unrealized losses, Less than 12 months, Number of Investments | security | 32 | 24 |
Securities with continuous unrealized losses, Less than 12 months, Unrealized Losses | $ 335 | $ 483 |
Securities with continuous unrealized losses, 12 months or longer, Estimated Fair Value | $ 13,588 | $ 3,657 |
Securities with continuous unrealized losses, 12 months or longer, Number of Investments | security | 20 | 21 |
Securities with continuous unrealized losses, 12 months or longer, Unrealized Losses | $ 300 | $ 46 |
Securities with continuous unrealized losses, Estimated Fair Value | $ 32,335 | $ 23,061 |
Securities with continuous unrealized losses, Number of Investments | security | 52 | 45 |
Securities with continuous unrealized losses, Unrealized Losses | $ 635 | $ 529 |
Private Label Mortgage-Backed Securities [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Securities with continuous unrealized losses, Less than 12 months, Estimated Fair Value | $ 52 | $ 336 |
Securities with continuous unrealized losses, Less than 12 months, Number of Investments | security | 1 | 4 |
Securities with continuous unrealized losses, Less than 12 months, Unrealized Losses | $ 1 | $ 7 |
Securities with continuous unrealized losses, 12 months or longer, Estimated Fair Value | $ 139 | $ 145 |
Securities with continuous unrealized losses, 12 months or longer, Number of Investments | security | 4 | 4 |
Securities with continuous unrealized losses, 12 months or longer, Unrealized Losses | $ 6 | $ 7 |
Securities with continuous unrealized losses, Estimated Fair Value | $ 191 | $ 481 |
Securities with continuous unrealized losses, Number of Investments | security | 5 | 8 |
Securities with continuous unrealized losses, Unrealized Losses | $ 7 | $ 14 |
Obligations Of States And Political Subdivisions Thereof [Member] | ||
Schedule of Available for sale Securities [Line Items] | ||
Securities with continuous unrealized losses, Less than 12 months, Estimated Fair Value | $ 39,759 | $ 12,549 |
Securities with continuous unrealized losses, Less than 12 months, Number of Investments | security | 14 | 28 |
Securities with continuous unrealized losses, Less than 12 months, Unrealized Losses | $ 871 | $ 240 |
Securities with continuous unrealized losses, 12 months or longer, Estimated Fair Value | $ 4,223 | $ 2,724 |
Securities with continuous unrealized losses, 12 months or longer, Number of Investments | security | 81 | 5 |
Securities with continuous unrealized losses, 12 months or longer, Unrealized Losses | $ 236 | $ 12 |
Securities with continuous unrealized losses, Estimated Fair Value | $ 43,982 | $ 15,273 |
Securities with continuous unrealized losses, Number of Investments | security | 95 | 33 |
Securities with continuous unrealized losses, Unrealized Losses | $ 1,107 | $ 252 |
Securities Available For Sale41
Securities Available For Sale (Schedule Of Realized Gains And Losses And Other-Than-Temporary Impairment Losses On Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Securities Available For Sale [Abstract] | ||||
Proceeds from Sale of Securities Available for Sale | $ 11,487 | $ 11,908 | $ 20,428 | $ 22,221 |
Realized Gains | $ 587 | 385 | $ 1,206 | 782 |
Realized Losses | $ 35 | $ 35 | ||
Other than Temporary Impairment Losses | ||||
Securities Gains and Losses, Net | $ 587 | $ 350 | $ 1,206 | $ 747 |
Loans And Allowance For Loan 42
Loans And Allowance For Loan Losses (Narrative) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($)itemloan | Jun. 30, 2014item | Dec. 31, 2014USD ($)loan | |
Loans And Allowance For Loan Losses [Line Items] | |||
Number of TDRs past due and classified as non-performing | loan | 5 | 7 | |
Defaults on loans that had been modified as TDRs | item | 0 | 0 | |
Number of relationships to loans classified as troubled debt restructurings | loan | 9 | ||
Loans | $ 510,285 | $ 455,734 | |
Loans to relationships classified as TDRs, Total | 1,449 | ||
TDRs past due and classified as non-performing, total amount | 707 | 357 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 | |
Residential Real Estate Mortgages [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of loans, classified as TDRs, to relationships | loan | 5 | ||
Number of relationships to loans classified as troubled debt restructurings | loan | 5 | ||
Loans to relationships classified as TDRs, Total | $ 1,652 | ||
Maximum [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Percentage of appraised value of residential real estate loans | 80.00% | ||
Maximum [Member] | Commercial Real Estate Mortgages [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of years for which principally collateralized loans are amortized | 20 years | ||
Maximum [Member] | Residential Real Estate Mortgages [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of years for which principally collateralized loans are amortized | 30 years | ||
Minimum [Member] | Commercial Real Estate Mortgages [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of years for which principally collateralized loans are amortized | 15 years | ||
Minimum [Member] | Residential Real Estate Mortgages [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of years for which principally collateralized loans are amortized | 10 years | ||
Real Estate Secured Loans [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of loans, classified as TDRs, to relationships | loan | 3 | 6 | |
Number of relationships to loans classified as troubled debt restructurings | loan | 2 | ||
Loans to relationships classified as TDRs, Total | $ 745 | ||
Home Equity Loan [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of loans, classified as TDRs, to relationships | loan | 1 | ||
Loans to relationships classified as TDRs, Total | $ 18 | ||
Agricultural And Other Loans To Farmers [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of TDRs past due and classified as non-performing | loan | 1 | ||
Number of loans, classified as TDRs, to relationships | loan | 1 | ||
Number of relationships to loans classified as troubled debt restructurings | loan | 2 | ||
Loans to relationships classified as TDRs, Total | $ 112 | ||
TDRs past due and classified as non-performing, total amount | $ 95 | ||
Commercial And Industrial [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of loans, classified as TDRs, to relationships | loan | 5 | 6 | |
Number of relationships to loans classified as troubled debt restructurings | loan | 4 | ||
Loans | $ 88,202 | $ 73,893 | |
Loans to relationships classified as TDRs, Total | 148 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 | |
Consumer Loans [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Number of loans, classified as TDRs, to relationships | loan | 1 | 1 | |
Loans to relationships classified as TDRs, Total | $ 9 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 | |
Lodging Industry [Member] | |||
Loans And Allowance For Loan Losses [Line Items] | |||
Percentage of commercial real estate mortgage portfolio | 29.90% | ||
Loans | $ 110,951 | $ 112,520 |
Loans And Allowance For Loan 43
Loans And Allowance For Loan Losses (Summary Of Composition Of Loan Portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net deferred loan costs and fees | $ 123 | $ (16) |
Total Loans | 983,244 | 919,024 |
Allowance for loan losses | (9,099) | (8,969) |
Loans, net of allowance for loan losses | 974,145 | 910,055 |
Commercial Real Estate Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 354,129 | 325,949 |
Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 88,202 | 73,893 |
Commercial Construction And Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 34,420 | 25,421 |
Agricultural And Other Loans To Farmers [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 33,534 | 30,471 |
Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 510,285 | 455,734 |
Residential Real Estate Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 393,755 | 382,678 |
Home Equity Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 51,794 | 51,795 |
Other Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 11,141 | 12,140 |
Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 456,690 | 446,613 |
Tax Exempt Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 16,146 | $ 16,693 |
Loans And Allowance For Loan 44
Loans And Allowance For Loan Losses (Summary Of Non Performing Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | $ 8,840 | $ 12,288 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total commercial loans | 4,083 | 5,192 |
Total consumer loans | 4,757 | 7,096 |
Total non-accrual loans | $ 8,840 | $ 12,288 |
Accruing loans contractually past due 90 days or more | ||
Total non-performing loans | $ 8,840 | $ 12,288 |
Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 2,430 | 3,156 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial Real Estate Mortgages [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total commercial loans | 2,430 | 3,156 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 322 | 624 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial And Industrial [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total commercial loans | 322 | 624 |
Commercial Construction And Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 1,260 | 1,328 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial Construction And Land Development [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total commercial loans | 1,260 | 1,328 |
Agriculture And Other Loans To Farmers [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 71 | 84 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Agriculture And Other Loans To Farmers [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total commercial loans | 71 | 84 |
Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 3,551 | 6,051 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Residential Real Estate Mortgages [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total consumer loans | 3,551 | 6,051 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 1,191 | 1,029 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Home Equity Loans [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total consumer loans | 1,191 | 1,029 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accrual loans | 15 | 16 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Consumer Loans [Member] | Non-Performing Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total consumer loans | $ 15 | $ 16 |
Loans And Allowance For Loan 45
Loans And Allowance For Loan Losses (Summary Of Troubled Debt Restructures) (Details) - Jun. 30, 2015 $ in Thousands | USD ($)contract | USD ($)contract |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | contract | 2 | 4,000 |
Pre-Modification Outstanding Recorded Investment | $ 795 | $ 1,285 |
Post-Modification Outstanding Recorded Investment | $ 794 | $ 1,283 |
Commercial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 18 | |
Post-Modification Outstanding Recorded Investment | $ 17 | |
Agriculture And Other Loans To Farmers [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 18 | |
Post-Modification Outstanding Recorded Investment | $ 17 | |
Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | contract | 2 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 795 | $ 1,267 |
Post-Modification Outstanding Recorded Investment | $ 794 | $ 1,266 |
Consumer Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | contract | 2 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 795 | $ 1,267 |
Post-Modification Outstanding Recorded Investment | $ 794 | $ 1,266 |
Loans And Allowance For Loan 46
Loans And Allowance For Loan Losses (Summary Of Post-Modification Balance of Troubled Debt Restructurings) (Details) - Jun. 30, 2015 - USD ($) $ in Thousands | Total | Total |
Loans And Allowance For Loan Losses [Abstract] | ||
Extended maturity and adjusted interest rate | $ 0 | $ 489 |
Adjusted payment | 607 | 607 |
Adjusted payment and capitalize interest | 187 | 187 |
Total | $ 794 | $ 1,283 |
Loans And Allowance For Loan 47
Loans And Allowance For Loan Losses (Schedule Of Past Due Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 9,621 | $ 9,932 |
Current | 973,500 | 909,108 |
Total loans | 983,121 | 919,040 |
Non-Accrual | 8,840 | 12,288 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,852 | 3,230 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,174 | 871 |
90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,595 | 5,831 |
Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,209 | 2,266 |
Current | 351,920 | 323,683 |
Total loans | 354,129 | 325,949 |
Non-Accrual | 2,430 | 3,156 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial Real Estate Mortgages [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 394 | 189 |
Commercial Real Estate Mortgages [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 285 | 234 |
Commercial Real Estate Mortgages [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,530 | 1,843 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 401 | 1,043 |
Current | 87,801 | 72,850 |
Total loans | 88,202 | 73,893 |
Non-Accrual | 322 | 624 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial And Industrial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | 665 |
Commercial And Industrial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 16 | 45 |
Commercial And Industrial [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 298 | 333 |
Commercial Construction And Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,260 | 1,328 |
Current | 33,160 | 24,093 |
Total loans | 34,420 | 25,421 |
Non-Accrual | 1,260 | 1,328 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Commercial Construction And Land Development [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,260 | 1,328 |
Agriculture And Other Loans To Farmers [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 149 | 91 |
Current | 33,385 | 30,380 |
Total loans | 33,534 | 30,471 |
Non-Accrual | 71 | 84 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Agriculture And Other Loans To Farmers [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 95 | 27 |
Agriculture And Other Loans To Farmers [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 54 | 64 |
Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,338 | 4,208 |
Current | 389,417 | 378,470 |
Total loans | 393,755 | 382,678 |
Non-Accrual | 3,551 | 6,051 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Residential Real Estate Mortgages [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,209 | 1,980 |
Residential Real Estate Mortgages [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 683 | 547 |
Residential Real Estate Mortgages [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,446 | 1,681 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,203 | 753 |
Current | 50,591 | 51,042 |
Total loans | 51,794 | 51,795 |
Non-Accrual | 1,191 | 1,029 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Home Equity Loans [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 25 | 138 |
Home Equity Loans [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 173 | 40 |
Home Equity Loans [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,005 | 575 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 61 | 243 |
Current | 11,080 | 11,897 |
Total loans | 11,141 | 12,140 |
Non-Accrual | 15 | 16 |
Accruing loans contractually past due 90 days or more | 0 | 0 |
Consumer Loans [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 42 | 231 |
Consumer Loans [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 17 | 5 |
Consumer Loans [Member] | 90 Days Or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | 7 |
Tax Exempt [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 16,146 | 16,693 |
Total loans | 16,146 | 16,693 |
Accruing loans contractually past due 90 days or more | $ 0 | $ 0 |
Loans And Allowance For Loan 48
Loans And Allowance For Loan Losses (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 5,345 | $ 5,345 | $ 3,813 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 7,887 | 7,887 | 5,768 | ||
Impaired loans, with related allowance, Recorded Investment | 1,375 | 1,375 | 2,321 | ||
Impaired loans, with related allowance, Unpaid Principal Balance | 1,525 | 1,525 | 2,579 | ||
Impaired loans, Related Allowance | 676 | 676 | 964 | ||
Impaired Financing Receivable, Recorded Investment | 6,720 | 6,720 | 6,134 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 9,412 | 9,412 | 8,347 | ||
Impaired loans, with no related allowance, Average Recorded Investment | 5,743 | $ 4,926 | 6,024 | $ 5,232 | |
Impaired loans, with no related allowance, Interest Recorded | 25 | 21 | 49 | 40 | |
Impaired loans, with related allowance, Average Recorded Investment | $ 1,373 | 833 | 1,372 | 768 | |
Impaired loans, with related allowance, Interest Recorded | |||||
Impaired loans, Average Recorded Investment, Total | $ 7,116 | 5,759 | 7,396 | 6,000 | |
Impaired loans, Interest Recorded, Total | 25 | 21 | 49 | 40 | |
Commercial Real Estate Mortgages [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | 2,191 | 2,191 | 1,606 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 2,314 | 2,314 | 1,606 | ||
Impaired loans, with related allowance, Recorded Investment | 955 | 955 | 1,986 | ||
Impaired loans, with related allowance, Unpaid Principal Balance | 955 | 955 | 2,014 | ||
Impaired loans, Related Allowance | 419 | 419 | 776 | ||
Impaired loans, with no related allowance, Average Recorded Investment | 2,413 | 2,075 | 2,698 | 2,191 | |
Impaired loans, with no related allowance, Interest Recorded | 7 | 16 | 14 | 31 | |
Impaired loans, with related allowance, Average Recorded Investment | $ 955 | 297 | 955 | 379 | |
Impaired loans, with related allowance, Interest Recorded | |||||
Commercial And Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 299 | 299 | 309 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 449 | 449 | 309 | ||
Impaired loans, with related allowance, Recorded Investment | 170 | 170 | 325 | ||
Impaired loans, with related allowance, Unpaid Principal Balance | 320 | 320 | 555 | ||
Impaired loans, Related Allowance | 169 | 169 | 187 | ||
Impaired loans, with no related allowance, Average Recorded Investment | 441 | 764 | 446 | 754 | |
Impaired loans, with no related allowance, Interest Recorded | 3 | 1 | 5 | 2 | |
Impaired loans, with related allowance, Average Recorded Investment | $ 170 | 536 | 170 | 389 | |
Impaired loans, with related allowance, Interest Recorded | |||||
Commercial Construction And Land Development [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 1,260 | 1,260 | 1,328 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 3,185 | 3,185 | 3,253 | ||
Impaired loans, with no related allowance, Average Recorded Investment | $ 1,260 | 1,504 | 1,260 | 1,702 | |
Impaired loans, with no related allowance, Interest Recorded | |||||
Impaired loans, with related allowance, Interest Recorded | |||||
Agriculture And Other Loans To Farmers [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 112 | 112 | 181 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 112 | 112 | 181 | ||
Impaired loans, with related allowance, Recorded Investment | 54 | 54 | |||
Impaired loans, with related allowance, Unpaid Principal Balance | 54 | 54 | |||
Impaired loans, Related Allowance | 47 | 47 | |||
Impaired loans, with no related allowance, Average Recorded Investment | 113 | $ 60 | 118 | $ 61 | |
Impaired loans, with no related allowance, Interest Recorded | 2 | 4 | |||
Impaired loans, with related allowance, Average Recorded Investment | $ 54 | 54 | |||
Impaired loans, with related allowance, Interest Recorded | |||||
Residential Real Estate Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 1,465 | 1,465 | 389 | ||
Impaired loans, with no related allowance, Unpaid Principal Balance | 1,615 | 1,615 | 419 | ||
Impaired loans, with related allowance, Recorded Investment | 187 | 187 | |||
Impaired loans, with related allowance, Unpaid Principal Balance | 187 | 187 | |||
Impaired loans, Related Allowance | 40 | 40 | |||
Impaired loans, with no related allowance, Average Recorded Investment | 1,498 | $ 491 | 1,483 | $ 492 | |
Impaired loans, with no related allowance, Interest Recorded | 13 | 3 | 25 | 6 | |
Impaired loans, with related allowance, Average Recorded Investment | $ 184 | 183 | |||
Impaired loans, with related allowance, Interest Recorded | |||||
Home Equity Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with no related allowance, Recorded Investment | $ 18 | 18 | |||
Impaired loans, with no related allowance, Unpaid Principal Balance | 212 | 212 | |||
Impaired loans, with no related allowance, Average Recorded Investment | $ 18 | 20 | 19 | 20 | |
Impaired loans, with no related allowance, Interest Recorded | 1 | 1 | 1 | ||
Impaired loans, with related allowance, Interest Recorded | |||||
Other Consumer Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired loans, with related allowance, Recorded Investment | $ 9 | 9 | 10 | ||
Impaired loans, with related allowance, Unpaid Principal Balance | 9 | 9 | 10 | ||
Impaired loans, Related Allowance | $ 1 | 1 | $ 1 | ||
Impaired loans, with no related allowance, Average Recorded Investment | $ 12 | $ 12 | |||
Impaired loans, with no related allowance, Interest Recorded | |||||
Impaired loans, with related allowance, Average Recorded Investment | $ 10 | $ 10 | |||
Impaired loans, with related allowance, Interest Recorded |
Loans And Allowance For Loan 49
Loans And Allowance For Loan Losses (Schedule Of Loans With Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 510,285 | $ 455,734 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 475,354 | 417,939 |
Other Assets Especially Mentioned [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 12,458 | 19,043 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 21,307 | $ 18,752 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 1,166 | |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 354,129 | $ 325,949 |
Commercial Real Estate Mortgages [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 326,979 | 302,376 |
Commercial Real Estate Mortgages [Member] | Other Assets Especially Mentioned [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 8,978 | 11,501 |
Commercial Real Estate Mortgages [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 17,006 | $ 12,072 |
Commercial Real Estate Mortgages [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 1,166 | |
Commercial Real Estate Mortgages [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 88,202 | $ 73,893 |
Commercial And Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 82,590 | 62,226 |
Commercial And Industrial [Member] | Other Assets Especially Mentioned [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 2,787 | 7,349 |
Commercial And Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 2,825 | $ 4,318 |
Commercial And Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Commercial And Industrial [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Commercial Construction And Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 34,420 | $ 25,421 |
Commercial Construction And Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 32,657 | 23,290 |
Commercial Construction And Land Development [Member] | Other Assets Especially Mentioned [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 503 | |
Commercial Construction And Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 1,260 | $ 2,131 |
Commercial Construction And Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Commercial Construction And Land Development [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Agriculture And Other Loans To Farmers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 33,534 | $ 30,471 |
Agriculture And Other Loans To Farmers [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 33,128 | 30,047 |
Agriculture And Other Loans To Farmers [Member] | Other Assets Especially Mentioned [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | 190 | 193 |
Agriculture And Other Loans To Farmers [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | $ 216 | $ 231 |
Agriculture And Other Loans To Farmers [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan | ||
Agriculture And Other Loans To Farmers [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loan |
Loans And Allowance For Loan 50
Loans And Allowance For Loan Losses (Schedule Of Allowance For Loan Losses By Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 9,478 | $ 8,722 | $ 8,969 | $ 8,475 |
Charged off | (789) | (441) | (958) | (669) |
Recoveries | 10 | 42 | 193 | 60 |
Provision | 400 | 428 | 895 | 885 |
Ending Balance | 9,099 | 8,751 | 9,099 | 8,751 |
Amount for loans individually evaluated for impairment | 676 | 676 | ||
Amount for loans collectively evaluated for impairment | 8,423 | 8,423 | ||
Loans individually evaluated for impairment | 6,076 | 6,076 | ||
Loans collectively evaluated for impairment | 977,045 | 977,045 | ||
Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 4,500 | 4,735 | 4,468 | 4,825 |
Charged off | (181) | (165) | (206) | (165) |
Recoveries | 5 | 39 | 6 | |
Provision | (35) | 317 | (12) | 221 |
Ending Balance | 4,289 | 4,887 | 4,289 | 4,887 |
Amount for loans individually evaluated for impairment | 419 | 419 | ||
Amount for loans collectively evaluated for impairment | 3,870 | 3,870 | ||
Loans individually evaluated for impairment | 2,992 | 2,992 | ||
Loans collectively evaluated for impairment | 351,137 | 351,137 | ||
Commercial And Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,074 | 1,654 | 929 | 1,266 |
Charged off | (213) | (88) | (288) | (99) |
Recoveries | 1 | 10 | 2 | 12 |
Provision | 285 | (3) | 504 | 394 |
Ending Balance | 1,147 | 1,573 | 1,147 | 1,573 |
Amount for loans individually evaluated for impairment | 169 | 169 | ||
Amount for loans collectively evaluated for impairment | 978 | 978 | ||
Loans individually evaluated for impairment | 469 | 469 | ||
Loans collectively evaluated for impairment | 87,733 | 87,733 | ||
Commercial Construction And Land Development [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 107 | 231 | 145 | 314 |
Provision | 38 | 23 | (60) | |
Ending Balance | 145 | 254 | 145 | 254 |
Amount for loans collectively evaluated for impairment | 145 | 145 | ||
Loans individually evaluated for impairment | 1,260 | 1,260 | ||
Loans collectively evaluated for impairment | 33,160 | 33,160 | ||
Agriculture And Other Loans To Farmers [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 334 | 350 | 277 | 335 |
Charged off | (18) | (14) | ||
Recoveries | 15 | 12 | 15 | |
Provision | 38 | 6 | 101 | 35 |
Ending Balance | 372 | 371 | 372 | 371 |
Amount for loans individually evaluated for impairment | 47 | 47 | ||
Amount for loans collectively evaluated for impairment | 325 | 325 | ||
Loans individually evaluated for impairment | 166 | 166 | ||
Loans collectively evaluated for impairment | 33,368 | 33,368 | ||
Residential Real Estate Mortgages [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,875 | 1,128 | 2,714 | 1,166 |
Charged off | (70) | (125) | (70) | (293) |
Recoveries | 11 | 129 | 12 | |
Provision | (320) | 135 | (288) | 264 |
Ending Balance | 2,485 | 1,149 | 2,485 | 1,149 |
Amount for loans individually evaluated for impairment | 40 | 40 | ||
Amount for loans collectively evaluated for impairment | 2,445 | 2,445 | ||
Loans individually evaluated for impairment | 1,180 | 1,180 | ||
Loans collectively evaluated for impairment | 392,575 | 392,575 | ||
Consumer Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 145 | 206 | 94 | 137 |
Charged off | (14) | (63) | (25) | (80) |
Recoveries | 4 | 6 | 11 | 15 |
Provision | (25) | (46) | 30 | 31 |
Ending Balance | 110 | 103 | 110 | 103 |
Amount for loans collectively evaluated for impairment | 110 | 110 | ||
Loans individually evaluated for impairment | 9 | 9 | ||
Loans collectively evaluated for impairment | 11,132 | 11,132 | ||
Home Equity Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 367 | 239 | 271 | 264 |
Charged off | (311) | (351) | (18) | |
Provision | 416 | 2 | 552 | (5) |
Ending Balance | 472 | 241 | 472 | 241 |
Amount for loans individually evaluated for impairment | 1 | 1 | ||
Amount for loans collectively evaluated for impairment | 471 | 471 | ||
Loans collectively evaluated for impairment | 51,794 | 51,794 | ||
Tax Exempt [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 76 | 179 | 71 | 168 |
Provision | 3 | (6) | 8 | 5 |
Ending Balance | 79 | $ 173 | 79 | $ 173 |
Amount for loans collectively evaluated for impairment | 79 | 79 | ||
Loans collectively evaluated for impairment | $ 16,146 | $ 16,146 |
Reclassifications Out Of Accu51
Reclassifications Out Of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net (losses) gain on sales of investments | $ 587 | $ 350 | $ 1,206 | $ 747 |
Salaries and benefits | 4,269 | 4,283 | 8,621 | 8,199 |
Provision for income taxes | 1,515 | 1,511 | 3,146 | 3,096 |
Net income | $ 3,873 | $ 3,857 | 7,754 | 7,644 |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net (loss) income, net of tax | 772 | 484 | ||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net (losses) gain on sales of investments | 1,206 | 747 | ||
Provision for income taxes | (422) | (254) | ||
Net income | 784 | 493 | ||
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | Amortization Of Actuarial Gain/Loss For Supplemental Executive Retirement Plan [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Salaries and benefits | (19) | (14) | ||
Provision for income taxes | 7 | 5 | ||
Net income | $ (12) | $ (9) |
Financial Derivative Instrume52
Financial Derivative Instruments (Narrative) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2014USD ($) | Jun. 30, 2015USD ($)contract | |
Derivative [Line Items] | ||
Fair Value | $ 3,455 | $ 3,206 |
Interest Rate Cap [Member] | ||
Derivative [Line Items] | ||
Number of Interest Rate Derivatives Held | contract | 4 | |
Notional Amount | $ 90,000 | |
Premium Paid | $ 4,566 | 0 |
Cap Interest Rate | 3.00% | |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | 3.00% | |
Fair Value | 3,206 | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 12 |
Financial Derivative Instrume53
Financial Derivative Instruments (Schedule of Notional Amounts of Outstanding Derivative Positions) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||
Unamortized Premium | $ 4,566 | $ 4,566 |
Fair Value | 3,206 | $ 3,455 |
Interest Rate Cap [Member] | ||
Derivative [Line Items] | ||
Notional Amount | 90,000 | |
Cap Interest Rate | 3.00% | |
Premium Paid | 0 | $ 4,566 |
Fair Value | 3,206 | |
Interest Rate Cap 1 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 25,000 | |
Termination Date | Jun. 2, 2021 | |
Cap Interest Rate | 3.00% | |
Premium Paid | $ 922 | |
Unamortized Premium | 922 | |
Fair Value | $ 509 | |
Cash Flow Hedge Derivative Instrument Assets at Fair Value | ||
Interest Rate Cap 2 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 20,000 | |
Termination Date | Jun. 4, 2024 | |
Cap Interest Rate | 3.00% | |
Premium Paid | $ 1,470 | |
Unamortized Premium | 1,470 | |
Fair Value | $ 954 | |
Cash Flow Hedge Derivative Instrument Assets at Fair Value | ||
Interest Rate Cap 3 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 20,000 | |
Termination Date | Oct. 21, 2021 | |
Cap Interest Rate | 3.00% | |
Premium Paid | $ 632 | |
Unamortized Premium | 632 | |
Fair Value | $ 462 | |
Cash Flow Hedge Derivative Instrument Assets at Fair Value | ||
Interest Rate Cap 4 [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 25,000 | |
Termination Date | Oct. 21, 2024 | |
Cap Interest Rate | 3.00% | |
Premium Paid | $ 1,542 | |
Unamortized Premium | 1,542 | |
Fair Value | $ 1,281 | |
Cash Flow Hedge Derivative Instrument Assets at Fair Value |
Financial Derivative Instrume54
Financial Derivative Instruments (Schedule of Interest Rate Derivatives) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Financial Derivative Instruments [Abstract] | ||
Unrealized losses on interest rate caps, Gross | $ (1,360) | $ (1,111) |
Unamortized premium on interest rate caps, Gross | 4,566 | 4,566 |
Total, Gross | 3,206 | 3,455 |
Unrealized gain on interest rate caps, Net of Tax | (884) | (722) |
Unamortized premium on interest rate caps, Net of Tax | 2,968 | 2,968 |
Total, Net of Tax | $ 2,084 | $ 2,246 |
Retirement Benefit Plans (Summa
Retirement Benefit Plans (Summary Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Retirement Benefit Plans [Abstract] | ||||
Service cost | $ 19 | $ 16 | $ 36 | $ 32 |
Interest cost | 31 | 38 | 62 | 75 |
Actuarial loss on supplemental executive retirement plan, net of tax | 8 | 7 | 19 | 14 |
Net periodic benefit cost | $ 58 | $ 61 | 117 | $ 121 |
Recognized expense for the foregoing plans | 234 | |||
Expected contributions to forgoing plans | 291 | |||
Contributions to plans | $ 145 |
Commitments And Contingent Li56
Commitments And Contingent Liabilities (Schedule Of Contractual Amounts Of Commitments And Contingent Liabilities) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Commitments To Originate Loans [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual amount of commitment and contingent liability | $ 43,920 | $ 21,147 |
Unused Lines Of Credit [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual amount of commitment and contingent liability | 88,631 | 92,817 |
Un-Advanced Portions Of Construction Loans [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual amount of commitment and contingent liability | 15,304 | 23,434 |
Standby Letters Of Credit [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Contractual amount of commitment and contingent liability | $ 385 | $ 325 |
Maximum [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Standby letters of credit terms, in years | 5 years |
Goodwill And Other Intangible57
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2012 | |
Schedule Of Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | $ 4,935 | $ 4,935 | |
Core deposit intangible asset, estimated life | 8 years 6 months | ||
Balance of core deposit intangibles | $ 516 | $ 562 | |
Expected amortization for 2015 | 92 | ||
Expected amortization for 2016 | 92 | ||
Expected amortization for 2017 | 92 | ||
Expected amortization for 2018 | 92 | ||
Expected amortization for 2019 | 92 | ||
Expected amortization for 2020 | 92 | ||
Expected amortization for 2021 | $ 8 | ||
Border Trust Company [Member] | |||
Schedule Of Goodwill And Other Intangible Assets [Line Items] | |||
Goodwill | $ 1,777 |
Goodwill And Other Intangible58
Goodwill And Other Intangible Assets (Core Deposit Intangible Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Goodwill And Other Intangible Assets [Abstract] | ||
Gross carrying amount | $ 783 | $ 783 |
Less: accumulated amortization | 267 | 221 |
Net carrying amount | $ 516 | $ 562 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans with a carrying value | $ 6,720 | $ 6,134 |
Impaired loans, allowance | $ 676 | 964 |
Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discounts for estimated costs to dispose and other considerations | 30.00% | |
Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discounts for estimated costs to dispose and other considerations | 10.00% | |
Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans with a carrying value | $ 955 | 1,986 |
Impaired loans, allowance | $ 419 | $ 776 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Financial Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
US Government-Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $ 298,138 | $ 288,210 |
US Government-Sponsored Enterprises [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 298,138 | 288,210 |
US Government Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 82,664 | 83,346 |
US Government Agency [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 82,664 | 83,346 |
Private Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 3,772 | 4,524 |
Private Label Mortgage-Backed Securities [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 3,772 | 4,524 |
Obligations Of States And Political Subdivisions Thereof [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 95,564 | 94,445 |
Obligations Of States And Political Subdivisions Thereof [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 95,564 | 94,445 |
Derivative Financial Instruments, Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 3,206 | 3,455 |
Derivative Financial Instruments, Assets [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $ 3,206 | $ 3,455 |
Fair Value Measurements (Fina61
Fair Value Measurements (Financial Assets And Financial Liabilities Measured At Fair Value On A Non-Recurring Basis) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | $ 393 | $ 523 |
Loss | $ 20 | $ 397 |
Other Real Estate Owned [Member] | Level 1 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | ||
Other Real Estate Owned [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | ||
Other Real Estate Owned [Member] | Level 3 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | $ 393 | $ 523 |
Collateral Dependent Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | $ 955 | $ 1,986 |
Collateral Dependent Impaired Loans [Member] | Level 1 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | ||
Collateral Dependent Impaired Loans [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | ||
Collateral Dependent Impaired Loans [Member] | Level 3 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets and liabilities, fair value | $ 955 | $ 1,986 |
Fair Value Of Financial Instr62
Fair Value Of Financial Instruments (Summary Of The Carrying Values And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Time deposits | $ 431,076 | $ 378,063 |
Carrying Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 17,038 | 9,800 |
Federal Home Loan Bank stock | 23,593 | 21,354 |
Loans, net | 974,145 | 910,055 |
Interest receivable | 5,785 | 4,795 |
Deposits (with no stated maturity) | 459,040 | 479,986 |
Time deposits | 431,076 | 378,063 |
Borrowings | 514,164 | 447,020 |
Interest payable | 475 | 499 |
Level 1 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 17,038 | 9,800 |
Interest receivable | 5,785 | 4,795 |
Interest payable | 475 | 499 |
Level 2 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Federal Home Loan Bank stock | 23,593 | 21,354 |
Deposits (with no stated maturity) | 459,040 | 479,986 |
Time deposits | 432,797 | 379,132 |
Borrowings | 514,242 | 447,637 |
Level 3 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 974,463 | 913,784 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 17,038 | 9,800 |
Federal Home Loan Bank stock | 23,593 | 21,354 |
Loans, net | 974,463 | 913,784 |
Interest receivable | 5,785 | 4,795 |
Deposits (with no stated maturity) | 459,040 | 479,986 |
Time deposits | 432,797 | 379,132 |
Borrowings | 514,242 | 447,637 |
Interest payable | $ 475 | $ 499 |