Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'PFBX | ' | ' |
Entity Registrant Name | 'PEOPLES FINANCIAL CORP /MS/ | ' | ' |
Entity Central Index Key | '0000770460 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 5,123,186 | ' |
Entity Public Float | ' | ' | $62,102,000 |
Consolidated_Statements_of_Con
Consolidated Statements of Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash and due from banks | $36,264 | $54,020 | $36,929 |
Available for sale securities | 275,440 | 258,876 | 278,918 |
Held to maturity securities, fair value of $10,686 - 2013; $7,225 - 2012; $1,492 - 2011 | 11,142 | 7,125 | 1,429 |
Other investments | 3,262 | 3,450 | 3,930 |
Federal Home Loan Bank Stock, at cost | 3,834 | 2,380 | 2,581 |
Loans | 375,349 | 431,083 | 432,407 |
Less: Allowance for loan losses | 8,934 | 8,857 | 8,136 |
Loans, net | 366,415 | 422,226 | 424,271 |
Bank premises and equipment, net of accumulated depreciation | 25,308 | 26,222 | 28,035 |
Other real estate | 9,630 | 7,008 | 6,153 |
Accrued interest receivable | 2,607 | 2,895 | 2,698 |
Cash surrender value of life insurance | 17,456 | 16,861 | 16,197 |
Prepaid FDIC assessments | 251 | 1,705 | 2,096 |
Other assets | 10,655 | 2,144 | 915 |
Total assets | 762,264 | 804,912 | 804,152 |
Deposits: | ' | ' | ' |
Demand, non-interest bearing | 107,117 | 102,609 | 97,581 |
Savings and demand, interest bearing | 217,005 | 232,401 | 205,319 |
Time, $100,000 or more | 60,519 | 94,606 | 115,014 |
Other time deposits | 43,917 | 46,103 | 50,525 |
Total deposits | 428,558 | 475,719 | 468,439 |
Federal funds purchased and securities sold under agreements to repurchase | 139,639 | 194,234 | 157,601 |
Borrowings from Federal Home Loan Bank | 77,684 | 7,912 | 53,324 |
Employee and director benefit plans liabilities | 12,725 | 12,162 | 11,311 |
Other liabilities | 4,511 | 4,131 | 4,025 |
Total liabilities | 663,117 | 694,158 | 694,700 |
Shareholders' Equity: | ' | ' | ' |
Common stock, $1 par value, 15,000,000 shares authorized, 5,123,186 shares issued and outstanding at December 31, 2013 and 5,136,918 at December 31, 2012 and 2011 | 5,123 | 5,137 | 5,137 |
Surplus | 65,780 | 65,780 | 65,780 |
Undivided profits | 34,259 | 34,964 | 33,351 |
Accumulated other comprehensive income (loss), net of tax | -6,015 | 4,873 | 5,184 |
Total shareholders' equity | 99,147 | 110,754 | 109,452 |
Total liabilities and shareholders' equity | $762,264 | $804,912 | $804,152 |
Consolidated_Statements_of_Con1
Consolidated Statements of Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, except Share data, unless otherwise specified | |||
Held to maturity securities, Fair Value | $10,686 | $7,225 | $1,492 |
Time deposits, minimum | 104,436 | ' | ' |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 15,000,000 | 15,000,000 | 15,000,000 |
Common stock, shares issued | 5,123,186 | 5,136,918 | 5,136,918 |
Common stock, shares outstanding | 5,123,186 | 5,136,918 | 5,136,918 |
Minimum [Member] | ' | ' | ' |
Time deposits, minimum | $100 | $100 | $100 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Interest and fees on loans | $18,927 | $18,577 | $17,923 |
Interest and dividends on securities: | ' | ' | ' |
U.S. Treasuries | 590 | 463 | 236 |
U.S. Government agencies | 3,114 | 3,777 | 5,320 |
Mortgage-backed securities | 703 | 287 | 106 |
States and political subdivisions | 1,524 | 1,493 | 1,418 |
Other investments | 29 | 15 | 23 |
Interest on federal funds sold | 69 | 16 | 7 |
Total interest income | 24,956 | 24,628 | 25,033 |
Interest expense: | ' | ' | ' |
Deposits | 1,098 | 1,500 | 2,354 |
Borrowings from Federal Home Loan Bank | 191 | 232 | 186 |
Federal funds purchased and securities sold under agreements to repurchase | 158 | 335 | 638 |
Total interest expense | 1,447 | 2,067 | 3,178 |
Net interest income | 23,509 | 22,561 | 21,855 |
Provision for allowance for loan losses | 9,661 | 4,264 | 2,935 |
Net interest income after provision for allowance for loan losses | 13,848 | 18,297 | 18,920 |
Non-interest income: | ' | ' | ' |
Trust department income and fees | 1,423 | 1,458 | 1,368 |
Service charges on deposit accounts | 6,236 | 5,911 | 5,783 |
Gain on liquidation, sales and calls of securities | 258 | 1,364 | 1,126 |
Loss on impairment of other investments | ' | -360 | ' |
Income (loss) on other investments | 42 | -84 | 97 |
Increase in cash surrender value of life insurance | 501 | 573 | 501 |
Gain on death benefits from life insurance | ' | ' | 470 |
Other income | 607 | 667 | 515 |
Total non-interest income | 9,067 | 9,529 | 9,860 |
Non-interest expense: | ' | ' | ' |
Salaries and employee benefits | 11,568 | 11,992 | 14,084 |
Net occupancy | 2,415 | 2,434 | 2,350 |
Equipment rentals, depreciation and maintenance | 2,878 | 3,106 | 3,332 |
Other expense | 8,793 | 7,745 | 9,015 |
Total non-interest expense | 25,654 | 25,277 | 28,781 |
Income (loss) before income taxes | -2,739 | 2,549 | -1 |
Income tax benefit | 2,201 | 92 | 1,204 |
Net income (loss) | ($538) | $2,641 | $1,203 |
Basic and diluted earnings (loss) per share | ($0.10) | $0.51 | $0.23 |
Dividends declared per share | ' | $0.20 | $0.19 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | ($538) | $2,641 | $1,203 |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Net unrealized gain (loss) on available for sale securities, net of tax of $5,153, $440 and $2,897 for the years ended December 31, 2013, 2012 and 2011, respectively | -10,002 | 855 | 5,624 |
Reclassification adjustment for realized gains on available for sale securities called or sold in current year, net of tax of $88, $464 and $383 for the years ended December 31, 2013, 2012 and 2011, respectively | -170 | -900 | -743 |
Gain (loss) from unfunded post-retirement benefit obligation, net of tax of $369, $137 and $1,638 for the years ended December 31, 2013, 2012 and 2011, respectively | -716 | -266 | 3,180 |
Total other comprehensive income (loss) | -10,888 | -311 | 8,061 |
Total comprehensive income (loss) | ($11,426) | $2,330 | $9,264 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net unrealized gain (loss) on available for sale securities, net of tax | $5,153 | $440 | $2,897 |
Reclassification adjustment for realized gains on available for sale securities called or sold, net of tax | 88 | 464 | 383 |
Gain (loss) from unfunded post-retirement benefit obligation, net of tax | $369 | $137 | $1,638 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Shareholders' Equity (USD $) | Total | Common Stock | Surplus | Undivided Profits | Accumulated Other Comprehensive Income |
In Thousands, except Share data | |||||
Beginning balance at Dec. 31, 2010 | $101,356 | $5,151 | $65,780 | $33,302 | ($2,877) |
Beginning balance, Shares at Dec. 31, 2010 | ' | 5,151,139 | ' | ' | ' |
Net income | 1,203 | ' | ' | 1,203 | ' |
Other comprehensive income (loss), net of tax | 8,061 | ' | ' | ' | 8,061 |
Cash dividend per share ($.09 per share as on 2011 and $.20 per share as on 2012) | -462 | ' | ' | -462 | ' |
Dividend declared ($.10 per share) | -514 | ' | ' | -514 | ' |
Retirement of stock | -192 | -14 | ' | -178 | ' |
Retirement of stock, Shares | ' | -14,221 | ' | ' | ' |
Ending balance at Dec. 31, 2011 | 109,452 | 5,137 | 65,780 | 33,351 | 5,184 |
Ending balance, Shares at Dec. 31, 2011 | ' | 5,136,918 | ' | ' | ' |
Net income | 2,641 | ' | ' | 2,641 | ' |
Other comprehensive income (loss), net of tax | -311 | ' | ' | ' | -311 |
Cash dividend per share ($.09 per share as on 2011 and $.20 per share as on 2012) | -1,028 | ' | ' | -1,028 | ' |
Ending balance at Dec. 31, 2012 | 110,754 | 5,137 | 65,780 | 34,964 | 4,873 |
Beginning balance, Shares at Dec. 31, 2012 | ' | 5,136,918 | ' | ' | ' |
Net income | -538 | ' | ' | -538 | ' |
Other comprehensive income (loss), net of tax | -10,888 | ' | ' | ' | -10,888 |
Retirement of stock | -181 | -14 | ' | -167 | ' |
Retirement of stock, Shares | 47,756 | -13,732 | ' | ' | ' |
Ending balance at Dec. 31, 2013 | $99,147 | $5,123 | $65,780 | $34,259 | ($6,015) |
Ending balance, Shares at Dec. 31, 2013 | ' | 5,123,186 | ' | ' | ' |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Statement Of Stockholders Equity [Abstract] | ' | ' |
Cash dividend per share | $0.20 | $0.09 |
Dividends declared per share | $0.20 | $0.19 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | ($538) | $2,641 | $1,203 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 1,750 | 2,048 | 2,210 |
Provision for allowance for loan losses | 9,661 | 4,264 | 2,935 |
Writedown of other real estate | 670 | 153 | 711 |
Loss on sales of other real estate | 63 | 21 | 180 |
Loss on impairment of other investments | ' | 360 | ' |
(Income) loss on other investments | -42 | 84 | -97 |
Accretion of held to maturity securities | -2 | -1 | -3 |
Gain on liquidation, sales and calls of securities | -258 | -1,364 | -1,126 |
Gain on death benefits from life insurance | ' | ' | -470 |
Increase in cash surrender value of life insurance | -501 | -573 | -501 |
Gain on sale of bank premises and equipment | -15 | ' | ' |
Change in accrued interest receivable | 288 | -197 | 594 |
Change in other assets | -467 | 600 | 4,061 |
Change in other liabilities | -1,122 | -211 | 96 |
Net cash provided by operating activities | 9,487 | 7,825 | 9,793 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from maturities, liquidation, sales and calls of available for sale securities | 142,355 | 358,404 | 358,538 |
Purchases of available for sale securities | -174,074 | -337,067 | -341,857 |
Proceeds from maturities of held to maturity securities | 795 | 170 | 489 |
Purchases of held to maturity securities | -4,810 | -5,865 | ' |
Purchases of Federal Home Loan Bank Stock | -1,454 | ' | -300 |
Redemption of Federal Home Loan Bank Stock | ' | 201 | ' |
Redemption of other investments | 230 | 36 | 93 |
Proceeds from sales of other real estate | 1,125 | 1,546 | 1,921 |
Loans, net change | 41,613 | -4,794 | -27,180 |
Acquisition of premises and equipment | -840 | -235 | -489 |
Proceeds from sales of banking premises and equipment | 19 | ' | ' |
Proceeds from death benefits from life insurance | ' | ' | 805 |
Insurance proceeds from casualty loss on other real estate | 57 | ' | ' |
Investment in cash surrender value of life insurance | -94 | -91 | -79 |
Net cash provided by (used in) investing activities | 4,922 | 12,305 | -8,059 |
Cash flows from financing activities: | ' | ' | ' |
Demand and savings deposits, net change | -10,888 | 32,110 | 991 |
Time deposits, net change | -36,273 | -24,830 | -16,691 |
Cash dividends | ' | -1,541 | -925 |
Retirement of common stock | -181 | ' | -193 |
Borrowings from Federal Home Loan Bank | 868,560 | 2,246,717 | 500,975 |
Repayments to Federal Home Loan Bank | -798,788 | -2,292,128 | -490,608 |
Federal funds purchased and securities sold under agreements to repurchase, net change | -54,595 | 36,633 | 17,499 |
Net cash provided by (used in) financing activities | -32,165 | -3,039 | 11,048 |
Net increase (decrease) in cash and cash equivalents | -17,756 | 17,091 | 12,782 |
Cash and cash equivalents, beginning of year | 54,020 | 36,929 | 24,147 |
Cash and cash equivalents, end of year | $36,264 | $54,020 | $36,929 |
BUSINESS_AND_SUMMARY_OF_SIGNIF
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
NOTE A – BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | |
Business of The Company | |
Peoples Financial Corporation (the “Company”) is a one-bank holding company headquartered in Biloxi, Mississippi. Its two operating subsidiaries are The Peoples Bank, Biloxi, Mississippi (the “Bank”), and PFC Service Corp. Its principal subsidiary is the Bank, which provides a full range of banking, financial and trust services to state, county and local government entities and individuals and small and commercial businesses operating in those portions of Mississippi, Louisiana and Alabama which are within a fifty mile radius of the Waveland, Wiggins and Gautier branches, the Bank’s three most outlying locations (the “trade area”). | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Basis of Accounting | |
The Company and its subsidiaries recognize assets and liabilities, and income and expense, on the accrual basis of accounting. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans, assumptions relating to employee and director benefit plan liabilities and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income. | |
New Accounting Pronouncements | |
In January 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-01, Balance Sheet (Topic 210), Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The amendments limit the scope of ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, to certain derivative instruments (including bifurcated embedded derivatives), repurchase agreements and reverse repurchase agreements, and securities borrowing and lending arrangements that are either (1) offset on the balance sheet or (2) subject to an enforceable master netting arrangement or similar agreement. This ASU amends the scope of FASB ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities, which requires additional disclosure regarding offsetting of assets and liabilities to enable users of financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position. The effective date of the amendments coincides with that of ASU 2011-11 (i.e., for fiscal years beginning on or after January 1, 2013, and interim periods within those years). The amendments will be applied retrospectively for all comparative periods presented on the balance sheet. The adoption of the guidance did not have a material impact on the Company’s financial position, results of operations or disclosures. | |
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments in this update require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component and by the respective line items of net income. The standard was effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. This guidance did not have a material impact on the Company’s financial position or results of operations, and resulted in additional disclosures. | |
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740), which clarifies the presentation requirements of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 and should be applied prospectively. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
In January 2014, the FASB issued ASU No. 2014-1, Investments – Equity Method and Joint Ventures (Topic 323 ) – Accounting for Investments in Qualified Affordable Housing Projects, which permits an entity to make an accounting policy election to account for their investment in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
In January 2014, the FASB issued ASU No. 2014-4, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) – Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, which clarifies when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 and should be applied prospectively. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
Cash and Due from Banks | |
The Company is required to maintain average reserve balances in its vault or on deposit with the Federal Reserve Bank. The average amount of these reserve requirements was approximately $407,000, $566,000 and $701,000 for the years ending December 31, 2013, 2012 and 2011, respectively. | |
Securities | |
The classification of securities is determined by Management at the time of purchase. Securities are classified as held to maturity when the Company has the positive intent and ability to hold the security until maturity. Securities held to maturity are stated at amortized cost. Securities not classified as held to maturity are classified as available for sale and are stated at fair value. Unrealized gains and losses, net of tax, on these securities are recorded in shareholders’ equity as accumulated other comprehensive income. The amortized cost of available for sale securities and held to maturity securities is adjusted for amortization of premiums and accretion of discounts to maturity, determined using the interest method. Such amortization and accretion is included in interest income on securities. A decline in the market value of any investment below cost that is deemed to be other-than-temporary is charged to earnings for the decline in value deemed to be credit related and a new cost basis in the security is established. The decline in value attributed to non-credit related factors is recognized in other comprehensive income. In estimating other-than-temporary losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and nature of the issuer, the cause of the decline, especially if related to a change in interest rates, and the intent and ability of the Company to retain the investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. The specific identification method is used to determine realized gains and losses on sales of securities, which are reported as gain (loss) on sales and calls of securities in non-interest income. | |
Other Investments | |
Other investments include a low income housing partnership in which the Company is a 99% limited partner. The partnership has qualified to receive annual low income housing federal tax credits that are recognized as a reduction of the current tax expense. The investment is accounted for using the equity method. | |
Federal Home Loan Bank Stock | |
The Company is a member of the Federal Home Loan Bank of Dallas (“FHLB”) and as such is required to maintain a minimum investment in its stock that varies with the level of FHLB advances outstanding. The stock is bought from and sold to the FHLB based on its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment in accordance with GAAP. | |
Loans | |
The loan portfolio consists of commercial and industrial and real estate loans within the Company’s trade area that we have the intent and ability to hold for the foreseeable future or until maturity. The loan policy establishes guidelines relating to pricing; repayment terms; collateral standards including loan to value limits, appraisal and environmental standards; lending authority; lending limits and documentation requirements. | |
Loans are stated at the amount of unpaid principal, reduced by unearned income and the allowance for loan losses. Interest on loans is recognized on a daily basis over the terms of each loan based on the unpaid principal balance. Loan origination fees are recognized as income when received. Revenue from these fees is not material to the financial statements. | |
The Company continuously monitors its relationships with its loan customers in concentrated industries such as gaming and hotel/motel, as well as the exposure for out of area, land development, construction and commercial real estate loans, and their direct and indirect impact on its operations. Loan delinquencies and deposit overdrafts are monitored on a weekly basis in order to identify developing problems as early as possible. On a monthly basis, a watch list of credits based on our loan grading system is prepared. Grades of A – F are applied to individual loans based on factors including repayment ability, financial condition of the borrower and payment performance. Loans with a grade of D – F, as well as some loans with a grade of C, are placed on the watch list of credits. The watch list is the primary tool for monitoring the credit quality of the loan portfolio. Once loans are determined to be past due, the loan officer and the special assets department work vigorously to return the loans to a current status. | |
The Company places loans on a nonaccrual status when, in the opinion of Management, they possess sufficient uncertainty as to timely collection of interest or principal so as to preclude the recognition in reported earnings of some or all of the contractual interest. Accrued interest on loans classified as nonaccrual is reversed at the time the loans are placed on nonaccrual. Interest received on nonaccrual loans is applied against principal. Loans are restored to accrual status when the obligation is brought current or has performed in accordance with the contractual terms for a reasonable period of time and the ultimate collectibility of the total contractual principal and interest is no longer in doubt. The placement of loans on and removal of loans from nonaccrual status must be approved by Management. | |
Loans which become 90 days delinquent are reviewed relative to collectibility. Unless such loans are in the process of terms revision to bring them to a current status or foreclosure or in the process of collection, these loans are placed on nonaccrual and, if deemed uncollectible, are charged off against the allowance for loan losses. That portion of a loan which is deemed uncollectible will be charged off against the allowance as a partial charge off. All charge offs must be approved by Management and are reported to the Board of Directors. | |
Allowance for Loan Losses | |
The allowance for loan losses (“ALL”) is a valuation account available to absorb losses on loans. | |
The ALL is established through provisions for loan losses charged against earnings. Loans deemed to be uncollectible are charged against the ALL, and subsequent recoveries, if any, are credited to the allowance. | |
The ALL is based on Management’s evaluation of the loan portfolio under current economic conditions and is an amount that Management believes will be adequate to absorb probable losses on loans existing at the reporting date. On a quarterly basis, the Company’s problem asset committee meets to review the watch list of credits, which is formulated from the loan grading system. Members of this committee include loan officers, collection officers, the special assets director, the chief lending officer, the chief credit officer, the chief financial officer and the chief executive officer. The evaluation includes Management’s assessment of several factors: review and evaluation of specific loans, changes in the nature and volume of the loan portfolio, current and anticipated economic conditions and the related impact on specific borrowers and industry groups, a study of loss experience, a review of classified, nonperforming and delinquent loans, the estimated value of any underlying collateral, an estimate of the possibility of loss based on the risk characteristics of the portfolio, adverse situations that may affect the borrower’s ability to repay and the results of regulatory examinations. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change. | |
The ALL consists of specific and general components. The specific component relates to loans that are classified as impaired. The general component of the allowance relates to loans that are not impaired. Changes to the components of the ALL are recorded as a component of the provision for the allowance for loan losses. Management must approve changes to the ALL and must report its actions to the Board of Directors. The Company believes that its allowance for loan losses is appropriate at December 31, 2013. | |
The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company’s impaired loans include troubled debt restructurings and performing and non-performing major loans for which full payment of principal or interest is not expected. A loan may be impaired but not on nonaccrual status when available information suggests that it is probable that the Bank may not receive all contractual principal and interest, however, the loan is still current and payments are received in accordance with the terms of the loan. Payments received for impaired loans not on nonaccrual status are applied to principal and interest. | |
All impaired loans are reviewed, at a minimum, on a quarterly basis. The Company calculates the specific allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of its collateral. Most of the Company’s impaired loans are collateral-dependent. | |
The fair value of the collateral for collateral-dependent loans is based on appraisals performed by third-party valuation specialists, comparable sales and other estimates of fair value obtained principally from independent sources such as the Multiple Listing Service or county tax assessment valuations, adjusted for estimated selling costs. The Company has a Real Estate Appraisal Policy (the “Policy”) which is in compliance with the guidelines set forth in the “Interagency Appraisal and Evaluation Guidelines” which implement Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) and the revised “Interagency Appraisal and Evaluation Guidelines” issued in 2010. The Policy further requires that appraisals be in writing and conform to the Uniform Standards of Professional Appraisal Practice (“USPAP”). An appraisal prepared by a state-licensed or state-certified appraiser is required on all new loans secured by real estate in excess of $250,000. Loans secured by real estate in an amount of $250,000 or less, or that qualify for an exemption under FIRREA, must have a summary appraisal report or in-house evaluation, depending on the facts and circumstances. Factors including the assumptions and techniques utilized by the appraiser, which could result in a downward adjustment to the collateral value estimates indicated in the appraisal, are considered by the Company. | |
When Management determines that a loan is impaired and the loan is collateral-dependent, an evaluation of the fair value of the collateral is performed. The Company maintains established criteria for assessing whether an existing appraisal continues to reflect the fair value of the property for collateral-dependent loans. Appraisals are generally considered to be valid for a period of at least twelve months. However, appraisals that are less than 12 months old may need to be adjusted. Management considers such factors as the property type, property condition, current use of the property, current market conditions and the passage of time when determining the relevance and validity of the most recent appraisal of the property. If Management determines that the most recent appraisal is no longer valid, a new appraisal is ordered from an independent and qualified appraiser. | |
During the interim period between ordering and receipt of the new appraisal, Management considers if the existing appraisal should be discounted to determine the estimated fair value of collateral. Discounts are applied to the existing appraisal and take into consideration the property type, condition of the property, external market data, internal data, reviews of recently obtained appraisals and evaluations of similar properties, comparable sales of similar properties and tax assessment valuations. When the new appraisal is received and approved by Management, the valuation stated in the appraisal is used as the fair value of the collateral in determining impairment, if any. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance is required as a specific component of the allowance for loan losses. Any specific reserves recorded in the interim are adjusted accordingly. | |
The general component of the ALL is the loss estimated by applying historical loss percentages to non-classified loans which have been divided into segments. These segments include gaming; residential and land development, real estate, construction; real estate, mortgage; commercial and industrial and all other. The loss percentages are based on each segment’s historical five year average loss experience which may be adjusted by qualitative factors such as changes in the general economy, or economy or real estate market in a particular geographic area or industry. | |
Bank Premises and Equipment | |
Bank premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed by the straight-line method based on the estimated useful lives of the related assets. | |
Other Real Estate | |
Other real estate (“ORE”) includes real estate acquired through foreclosure. Each other real estate property is carried at fair value, less estimated costs to sell. Fair value is principally based on appraisals performed by third-party valuation specialists. Any excess of the carrying value of the related loan over the fair value of the real estate at the date of foreclosure is charged against the ALL. Any expense incurred in connection with holding such real estate or resulting from any writedowns in value subsequent to foreclosure is included in non-interest expense. When the other real estate property is sold, a gain or loss is recognized on the sale for the difference, if any, between the sales proceeds and the carrying amount of the property. If the fair value of the ORE, less estimated costs to sell at the time of foreclosure, decreases during the holding period, the ORE is written down with a charge to non-interest expense. Generally, ORE properties are actively marketed for sale and Management is continuously monitoring these properties in order to minimize any losses. | |
Trust Department Income and Fees | |
Corporate trust fees are accounted for on an accrual basis and personal trust fees are recorded when received. | |
Income Taxes | |
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. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities 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 tax expense in the period that includes the enactment date. | |
In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some portion or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income and tax planning strategies. The Company currently evaluates income tax positions judged to be uncertain. A loss contingency reserve is accrued if it is probable that the tax position will be challenged, it is probable that the future resolution of the challenge will confirm that a loss has been incurred and the amount of such loss can be reasonably estimated. | |
Post-Retirement Benefit Plan | |
The Company accounts for its post-retirement benefit plan under Accounting Standards Codification (“Codification” or “ASC”) Topic 715, Retirement Benefits (“ASC 715”). The under or over funded status of the Company’s post-retirement benefit plan is recognized as a liability or asset in the statement of condition. Changes in the plan’s funded status are reflected in other comprehensive income. Net actuarial gains and losses and adjustments to prior service costs that are not recorded as components of the net periodic benefit cost are charged to other comprehensive income. | |
Earnings Per Share | |
Basic and diluted earnings per share are computed on the basis of the weighted average number of common shares outstanding, 5,128,889 in 2013 and 5,136,918, in 2012 and 2011. | |
Accumulated Other Comprehensive Income | |
At December 31, 2013, 2012 and 2011, accumulated other comprehensive income (loss) consisted of net unrealized gains (losses) on available for sale securities and over (under) funded liabilities related to the Company’s post-retirement benefit plan. | |
Statements of Cash Flows | |
The Company has defined cash and cash equivalents to include cash and due from banks and federal funds sold. The Company paid $1,470,945, $2,082,914 and $3,222,385 in 2013, 2012 and 2011, respectively, for interest on deposits and borrowings. Income tax payments totaled $810,000, $835,000 and $755,000 in 2013, 2012 and 2011, respectively. Loans transferred to other real estate amounted to $4,536,710, $2,575,520 and $3,221,510 in 2013, 2012 and 2011, respectively. Dividends payable of $513,692 and $462,323 as of December 31, 2011 and 2010 were paid during the years ended December 31, 2012 and 2011, respectively. | |
Fair Value Measurement | |
The Company reports certain assets and liabilities at their estimated fair value. These assets and liabilities are classified and disclosed in one of three categories based on the inputs used to develop the measurements. The categories establish a hierarchy for ranking the quality and reliability of the information used to determine fair value. |
SECURITIES
SECURITIES | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
SECURITIES | ' | ||||||||||||||||||||||||
NOTE B – SECURITIES: | |||||||||||||||||||||||||
The amortized cost and fair value of securities at December 31, 2013, 2012 and 2011, respectively, are as follows (in thousands): | |||||||||||||||||||||||||
December 31, 2013 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Losses | |||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 44,636 | $ | 54 | $ | (1,042 | ) | $ | 43,648 | ||||||||||||||||
U.S. Government agencies | 155,772 | 734 | (10,701 | ) | 145,805 | ||||||||||||||||||||
Mortgage-backed securities | 51,454 | 141 | (1,269 | ) | 50,326 | ||||||||||||||||||||
States and political subdivisions | 33,764 | 1,248 | (1 | ) | 35,011 | ||||||||||||||||||||
Total debt securities | 285,626 | 2,177 | (13,013 | ) | 274,790 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 286,276 | $ | 2,177 | $ | (13,013 | ) | $ | 275,440 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 11,142 | $ | 13 | $ | (469 | ) | $ | 10,686 | ||||||||||||||||
Total held to maturity securities | $ | 11,142 | $ | 13 | $ | (469 | ) | $ | 10,686 | ||||||||||||||||
December 31, 2012 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 53,661 | $ | 490 | $ | (55 | ) | $ | 54,096 | ||||||||||||||||
U.S. Government agencies | 147,652 | 1,810 | (364 | ) | 149,098 | ||||||||||||||||||||
Mortgage-backed securities | 16,903 | 538 | 17,441 | ||||||||||||||||||||||
States and political subdivisions | 35,433 | 2,158 | 37,591 | ||||||||||||||||||||||
Total debt securities | 253,649 | 4,996 | (419 | ) | 258,226 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 254,299 | $ | 4,996 | $ | (419 | ) | $ | 258,876 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 7,125 | $ | 112 | $ | (12 | ) | $ | 7,225 | ||||||||||||||||
Total held to maturity securities | $ | 7,125 | $ | 112 | $ | (12 | ) | $ | 7,225 | ||||||||||||||||
December 31, 2011 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 53,995 | $ | 33 | $ | (18 | ) | $ | 54,010 | ||||||||||||||||
U.S. Government agencies | 176,986 | 2,220 | (26 | ) | 179,180 | ||||||||||||||||||||
Mortgage-backed securities | 4,727 | 274 | 5,001 | ||||||||||||||||||||||
States and political subdivisions | 37,914 | 2,163 | 40,077 | ||||||||||||||||||||||
Total debt securities | 273,622 | 4,690 | (44 | ) | 278,268 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 274,272 | $ | 4,690 | $ | (44 | ) | $ | 278,918 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 1,429 | $ | 63 | $ | $ | 1,492 | ||||||||||||||||||
Total held to maturity securities | $ | 1,429 | $ | 63 | $ | $ | 1,492 | ||||||||||||||||||
The amortized cost and fair value of debt securities at December 31, 2013, (in thousands) by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Due in one year or less | $ | 16,442 | $ | 16,527 | |||||||||||||||||||||
Due after one year through five years | 49,769 | 50,052 | |||||||||||||||||||||||
Due after five years through ten years | 80,136 | 78,561 | |||||||||||||||||||||||
Due after ten years | 87,825 | 79,324 | |||||||||||||||||||||||
Mortgage-backed securities | 51,454 | 50,326 | |||||||||||||||||||||||
Totals | $ | 285,626 | $ | 274,790 | |||||||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
Due in one year or less | $ | 664 | $ | 671 | |||||||||||||||||||||
Due after one year through five years | 1,323 | 1,320 | |||||||||||||||||||||||
Due after five years through ten years | 6,286 | 6,125 | |||||||||||||||||||||||
Due after ten years | 2,869 | 2,570 | |||||||||||||||||||||||
Totals | $ | 11,142 | $ | 10,686 | |||||||||||||||||||||
Available for sale and held to maturity securities with gross unrealized losses at December 31, 2013, 2012 and 2011, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows (in thousands): | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
December 31, 2013: | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
U.S. Treasuries | $ | 29,708 | $ | 1,042 | $ | $ | $ | 29,708 | $ | 1,042 | |||||||||||||||
U.S. Government agencies | 113,446 | 10,322 | 4,621 | 379 | 118,067 | 10,701 | |||||||||||||||||||
Mortgage-backed securities | 44,269 | 1,269 | 44,269 | 1,269 | |||||||||||||||||||||
States and political subdivisions | 7,690 | 470 | 7,690 | 470 | |||||||||||||||||||||
TOTAL | $ | 195,113 | $ | 13,103 | $ | 4,621 | $ | 379 | $ | 199,734 | $ | 13,482 | |||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 9,887 | $ | 55 | $ | $ | $ | 9,887 | $ | 55 | |||||||||||||||
U.S. Government agencies | 30,335 | 364 | 30,335 | 364 | |||||||||||||||||||||
States and political subdivisions | 1,451 | 12 | 1,451 | 12 | |||||||||||||||||||||
TOTAL | $ | 41,673 | $ | 431 | $ | $ | $ | 41,673 | $ | 431 | |||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 16,976 | $ | 18 | $ | $ | $ | 16,976 | $ | 18 | |||||||||||||||
U.S. Government agencies | 15,075 | 26 | 15,075 | 26 | |||||||||||||||||||||
TOTAL | $ | 32,051 | $ | 44 | $ | $ | $ | 32,051 | $ | 44 | |||||||||||||||
At December 31, 2013, 7 of the 11 securities issued by the U.S. Treasury, 25 of the 31 securities issued by U.S. Government agencies, 11 of the 13 mortgage-backed securities and 28 of the 143 securities issued by states and political subdivisions contained unrealized losses. | |||||||||||||||||||||||||
Management evaluates securities for other-than-temporary impairment on a monthly basis. In performing this evaluation, the length of time and the extent to which the fair value has been less than cost, the fact that the Company’s securities are primarily issued by U.S. Treasury and U.S. Government Agencies and the cause of the decline in value are considered. In addition, the Company does not intend to sell and it is not more likely than not that we will be required to sell these securities before maturity. While some available for sale securities have been sold for liquidity purposes or for gains, the Company has traditionally held its securities, including those classified as available for sale, until maturity. As a result of this evaluation, the Company has determined that the declines summarized in the tables above are not deemed to be other-than-temporary. | |||||||||||||||||||||||||
Proceeds from sales of available for sale debt securities were $26,075,225, $77,605,104 and $60,714,150 during 2013, 2012 and 2011, respectively. Available for sale debt securities were sold and called for realized gains of $257,997, $1,363,802 and $1,126,055 during 2013, 2012 and 2011, respectively. The Company recorded a loss from the impairment of its other investments of $360,000 in 2012. | |||||||||||||||||||||||||
Securities with a fair value of $262,830,011, $241,879,775 and $278,540,119 at December 31, 2013, 2012 and 2011, respectively, were pledged to secure public deposits, federal funds purchased and other balances required by law. |
LOANS
LOANS | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||||||||||
NOTE C - LOANS: | |||||||||||||||||||||||||||||||
The composition of the loan portfolio at December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 29,570 | $ | 60,187 | $ | 57,219 | |||||||||||||||||||||||||
Residential and land development | 19,403 | 27,338 | 29,026 | ||||||||||||||||||||||||||||
Real estate, construction | 44,987 | 52,586 | 61,042 | ||||||||||||||||||||||||||||
Real estate, mortgage | 237,158 | 246,420 | 238,411 | ||||||||||||||||||||||||||||
Commercial and industrial | 35,007 | 35,004 | 33,950 | ||||||||||||||||||||||||||||
Other | 9,224 | 9,548 | 12,759 | ||||||||||||||||||||||||||||
Total | $ | 375,349 | $ | 431,083 | $ | 432,407 | |||||||||||||||||||||||||
In the ordinary course of business, the Company’s bank subsidiary extends loans to certain officers and directors and their personal business interests at, in the opinion of Management, the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans of similar credit risk with persons not related to the Company or its subsidiaries. These loans do not involve more than normal risk of collectibility and do not include other unfavorable features. An analysis of the activity with respect to such loans to related parties is as follows (in thousands): | |||||||||||||||||||||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Balance, January 1 | $ | 6,310 | $ | 5,681 | $ | 5,552 | |||||||||||||||||||||||||
January 1 balance, loans of officers and directors appointed during the year | 123 | ||||||||||||||||||||||||||||||
New loans and advances | 1,647 | 3,755 | 2,426 | ||||||||||||||||||||||||||||
Repayments | (1,196) | (3,126) | (2,420) | ||||||||||||||||||||||||||||
Balance, December 31 | $ | 6,761 | $ | 6,310 | $ | 5,681 | |||||||||||||||||||||||||
As part of its evaluation of the quality of the loan portfolio, Management monitors the Company’s credit concentrations on a monthly basis. Total outstanding concentrations were as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 29,570 | $ | 60,187 | $ | 57,219 | |||||||||||||||||||||||||
Hotel/motel | 49,842 | 52,776 | 46,956 | ||||||||||||||||||||||||||||
Out of area | 24,945 | 25,413 | 26,171 | ||||||||||||||||||||||||||||
The age analysis of the loan portfolio, segregated by class of loans, as of December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
Loans Past | |||||||||||||||||||||||||||||||
Due Greater | |||||||||||||||||||||||||||||||
Number of Days Past Due | Than 90 | ||||||||||||||||||||||||||||||
Greater | Total | Total | Days and | ||||||||||||||||||||||||||||
30 - 59 | 60 - 89 | Than 90 | Past Due | Current | Loans | Still Accruing | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | $ | $ | $ | 29,570 | $ | 29,570 | $ | ||||||||||||||||||||||
Residential and land development | 51 | 13,572 | 13,623 | 5,780 | 19,403 | ||||||||||||||||||||||||||
Real estate, construction | 3,846 | 9,452 | 13,298 | 31,689 | 44,987 | 146 | |||||||||||||||||||||||||
Real estate, mortgage | 6,910 | 2,684 | 5,134 | 14,728 | 222,430 | 237,158 | 505 | ||||||||||||||||||||||||
Commercial and industrial | 1,192 | 1,192 | 33,815 | 35,007 | |||||||||||||||||||||||||||
Other | 227 | 5 | 232 | 8,992 | 9,224 | ||||||||||||||||||||||||||
Total | $ | 12,226 | $ | 2,689 | $ | 28,158 | $ | 43,073 | $ | 332,276 | $ | 375,349 | $ | 651 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | 1,721 | $ | $ | 1,721 | $ | 58,466 | $ | 60,187 | $ | ||||||||||||||||||||
Residential and land development | 5,765 | 5,765 | 21,573 | 27,338 | |||||||||||||||||||||||||||
Real estate, construction | 3,989 | 878 | 6,151 | 11,018 | 41,568 | 52,586 | 572 | ||||||||||||||||||||||||
Real estate, mortgage | 12,012 | 2,702 | 7,605 | 22,319 | 224,101 | 246,420 | 872 | ||||||||||||||||||||||||
Commercial and industrial | 1,804 | 79 | 107 | 1,990 | 33,014 | 35,004 | |||||||||||||||||||||||||
Other | 127 | 26 | 1 | 154 | 9,394 | 9,548 | 1 | ||||||||||||||||||||||||
Total | $ | 17,932 | $ | 5,406 | $ | 19,629 | $ | 42,967 | $ | 388,116 | $ | 431,083 | $ | 1,445 | |||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | $ | $ | $ | 57,219 | $ | 57,219 | $ | ||||||||||||||||||||||
Residential and land development | 24,161 | 24,161 | 4,865 | 29,026 | |||||||||||||||||||||||||||
Real estate, construction | 2,084 | 1,395 | 6,364 | 9,843 | 51,199 | 61,042 | 376 | ||||||||||||||||||||||||
Real estate, mortgage | 13,569 | 2,341 | 12,963 | 28,873 | 209,538 | 238,411 | 1,314 | ||||||||||||||||||||||||
Commercial and industrial | 1,536 | 166 | 388 | 2,090 | 31,860 | 33,950 | 142 | ||||||||||||||||||||||||
Other | 184 | 23 | 131 | 338 | 12,421 | 12,759 | |||||||||||||||||||||||||
Total | $ | 17,373 | $ | 3,925 | $ | 44,007 | $ | 65,305 | $ | 367,102 | $ | 432,407 | $ | 1,832 | |||||||||||||||||
The Company monitors the credit quality of its loan portfolio through the use of a loan grading system. A score of 1 – 5 is assigned to the loan based on factors including repayment ability, trends in net worth and/or financial condition of the borrower and guarantors, employment stability, management ability, loan to value fluctuations, the type and structure of the loan, conformity of the loan to bank policy and payment performance. Based on the total score, a loan grade of A - F is applied. A grade of A will generally be applied to loans for customers that are well known to the Company and that have excellent sources of repayment. A grade of B will generally be applied to loans for customers that have excellent sources of repayment which have no identifiable risk of collection. A grade of C will generally be applied to loans for customers that have adequate sources of repayment which have little identifiable risk of collection. Loans with a grade of C may be placed on the watch list if weaknesses are not resolved which could result in potential loss or for other circumstances that require monitoring. A grade of D will generally be applied to loans for customers that are inadequately protected by current sound net worth, paying capacity of the borrower, or pledged collateral. Loans with a grade of D have unsatisfactory characteristics such as cash flow deficiencies, bankruptcy filing by the borrower or dependence on the sale of collateral for the primary source of repayment, causing more than acceptable levels of risk. Loans 60 to 89 days past due receive a grade of D. A grade of E will generally be applied to loans for customers with weaknesses inherent in the D classification and in which collection or liquidation in full is questionable. In addition, on a monthly basis the Company determines which loans are 90 days or more past due and assigns a grade of E to them. A grade of F is applied to loans which are considered uncollectible and of such little value that their continuance in an active bank is not warranted. Loans with this grade are charged off, even though partial or full recovery may be possible in the future. | |||||||||||||||||||||||||||||||
An analysis of the loan portfolio by loan grade, segregated by class of loans, as of December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
Loans With A Grade Of: | |||||||||||||||||||||||||||||||
A or B | C | D | E | F | Total | ||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Gaming | $ | 23,975 | $ | 2,500 | $ | $ | 3,095 | $ | $ | 29,570 | |||||||||||||||||||||
Residential and land development | 4,236 | 1,544 | 51 | 13,572 | 19,403 | ||||||||||||||||||||||||||
Real estate, construction | 38,808 | 781 | 2,220 | 3,178 | 44,987 | ||||||||||||||||||||||||||
Real estate, mortgage | 204,569 | 4,495 | 17,852 | 10,242 | 237,158 | ||||||||||||||||||||||||||
Commercial and industrial | 31,902 | 682 | 2,402 | 21 | 35,007 | ||||||||||||||||||||||||||
Other | 9,131 | 24 | 50 | 19 | 9,224 | ||||||||||||||||||||||||||
Total | $ | 312,621 | $ | 10,026 | $ | 22,575 | $ | 30,127 | $ | $ | 375,349 | ||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Gaming | $ | 27,530 | $ | 12,300 | $ | 4,108 | $ | 16,249 | $ | $ | 60,187 | ||||||||||||||||||||
Residential and land development | 4,630 | 1,544 | 81 | 21,083 | 27,338 | ||||||||||||||||||||||||||
Real estate, construction | 43,318 | 1,001 | 2,701 | 5,566 | 52,586 | ||||||||||||||||||||||||||
Real estate, mortgage | 209,479 | 3,093 | 21,167 | 12,681 | 246,420 | ||||||||||||||||||||||||||
Commercial and industrial | 32,036 | 442 | 2,312 | 214 | 35,004 | ||||||||||||||||||||||||||
Other | 9,449 | 27 | 72 | 9,548 | |||||||||||||||||||||||||||
Total | $ | 326,442 | $ | 18,407 | $ | 30,441 | $ | 55,793 | $ | $ | 431,083 | ||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Gaming | $ | 41,817 | $ | $ | $ | 15,402 | $ | $ | 57,219 | ||||||||||||||||||||||
Residential and land development | 4,865 | 51 | 24,110 | 29,026 | |||||||||||||||||||||||||||
Real estate, construction | 50,798 | 357 | 3,695 | 6,192 | 61,042 | ||||||||||||||||||||||||||
Real estate, mortgage | 197,509 | 2,862 | 25,870 | 12,170 | 238,411 | ||||||||||||||||||||||||||
Commercial and industrial | 23,972 | 6,551 | 3,077 | 350 | 33,950 | ||||||||||||||||||||||||||
Other | 12,268 | 40 | 384 | 67 | 12,759 | ||||||||||||||||||||||||||
Total | $ | 331,229 | $ | 9,810 | $ | 33,077 | $ | 58,291 | $ | $ | 432,407 | ||||||||||||||||||||
A loan may be impaired but not on nonaccrual status when the loan is well secured and in the process of collection. Total loans on nonaccrual as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 1,223 | $ | 16,249 | $ | 15,402 | |||||||||||||||||||||||||
Residential and land development | 13,572 | 21,083 | 24,110 | ||||||||||||||||||||||||||||
Real estate, construction | 2,588 | 5,171 | 6,042 | ||||||||||||||||||||||||||||
Real estate, mortgage | 8,788 | 11,174 | 11,662 | ||||||||||||||||||||||||||||
Commercial and industrial | 214 | 246 | |||||||||||||||||||||||||||||
Other | 131 | ||||||||||||||||||||||||||||||
Total | $ | 26,171 | $ | 53,891 | $ | 57,593 | |||||||||||||||||||||||||
The Company has modified certain loans by granting interest rate concessions to these customers. These loans are in compliance with their modified terms, are currently accruing and the Company has classified them as troubled debt restructurings. Troubled debt restructurings as of December 31, 2013, 2012 and 2011, were as follows (in thousands except for number of contracts): | |||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | Related | ||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Allowance | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Real estate, construction | 2 | $ | 891 | $ | 891 | $ | 270 | ||||||||||||||||||||||||
Real estate, mortgage | 6 | 10,012 | 10,012 | 994 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 678 | 678 | ||||||||||||||||||||||||||||
Total | 9 | $ | 11,581 | $ | 11,581 | $ | 1,264 | ||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Real estate, construction | 3 | $ | 1,095 | $ | 1,095 | $ | 340 | ||||||||||||||||||||||||
Real estate, mortgage | 3 | 9,054 | 9,054 | 957 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 702 | 702 | ||||||||||||||||||||||||||||
Total | 7 | $ | 10,851 | $ | 10,851 | $ | 1,297 | ||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Real estate, construction | 3 | $ | 1,075 | $ | 1,075 | $ | 112 | ||||||||||||||||||||||||
Real estate, mortgage | 5 | 9,916 | 9,916 | 809 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 706 | 706 | ||||||||||||||||||||||||||||
Total | 9 | $ | 11,697 | $ | 11,697 | $ | 921 | ||||||||||||||||||||||||
During 2013, the Company classified four additional loans as troubled debt restructurings. The loans are included in the real estate-mortgage segment and had a total balance of $1,652,903 when they were modified. During 2013, two loans which had been classified as troubled debt restructurings at December 31, 2012 became in default of their modified terms and were placed on nonaccrual. These loans included one loan that was included in the real estate – construction segment with a balance of $182,164 and one loan that was included in the real estate – mortgage segment with a balance of $527,677 as of December 31, 2012. | |||||||||||||||||||||||||||||||
Impaired loans, which include loans classified as nonaccrual and troubled debt restructurings, segregated by class of loans, as of December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | Income | |||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Residential and land development | $ | 4,425 | $ | 4,425 | $ | $ | 4,465 | $ | |||||||||||||||||||||||
Real estate, construction | 2,294 | 2,294 | 2,054 | 26 | |||||||||||||||||||||||||||
Real estate, mortgage | 9,722 | 9,123 | 9,097 | 26 | |||||||||||||||||||||||||||
Commercial and industrial | 678 | 678 | 689 | 24 | |||||||||||||||||||||||||||
Total | 17,119 | 16,520 | 16,305 | 76 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | 1,698 | 1,223 | 626 | 1,316 | |||||||||||||||||||||||||||
Residential and land development | 17,576 | 9,147 | 471 | 15,909 | |||||||||||||||||||||||||||
Real estate, construction | 1,185 | 1,185 | 337 | 1,239 | 23 | ||||||||||||||||||||||||||
Real estate, mortgage | 9,677 | 9,677 | 1,110 | 8,801 | 306 | ||||||||||||||||||||||||||
Total | 30,136 | 21,232 | 2,544 | 27,265 | 329 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 1,698 | 1,223 | 626 | 1,316 | |||||||||||||||||||||||||||
Residential and land development | 22,001 | 13,572 | 471 | 20,374 | |||||||||||||||||||||||||||
Real estate, construction | 3,479 | 3,479 | 337 | 3,293 | 49 | ||||||||||||||||||||||||||
Real estate, mortgage | 19,399 | 18,800 | 1,110 | 17,898 | 332 | ||||||||||||||||||||||||||
Commercial and industrial | 678 | 678 | 689 | 24 | |||||||||||||||||||||||||||
Total | $ | 47,255 | $ | 37,752 | $ | 2,544 | $ | 43,570 | $ | 405 | |||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Investment | Allowance | Recorded | Income | ||||||||||||||||||||||||||||
Principal | Investment | Recognized | |||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | $ | 14,528 | $ | 14,528 | $ | $ | 14,869 | $ | |||||||||||||||||||||||
Residential and land development | 21,837 | 20,733 | 21,288 | ||||||||||||||||||||||||||||
Real estate, construction | 4,635 | 4,580 | 3,833 | ||||||||||||||||||||||||||||
Real estate, mortgage | 9,971 | 9,935 | 9,821 | ||||||||||||||||||||||||||||
Commercial and industrial | 892 | 892 | 791 | 23 | |||||||||||||||||||||||||||
Total | 51,863 | 50,668 | 50,602 | 23 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | 1,721 | 1,721 | 1,100 | ||||||||||||||||||||||||||||
Residential and land development | 350 | 350 | 70 | 350 | |||||||||||||||||||||||||||
Real estate, construction | 1,694 | 1,686 | 663 | 1,314 | 8 | ||||||||||||||||||||||||||
Real estate, mortgage | 10,893 | 10,293 | 1,229 | 10,199 | 319 | ||||||||||||||||||||||||||
Commercial and industrial | 24 | 24 | 12 | ||||||||||||||||||||||||||||
Total | 14,682 | 14,074 | 3,074 | 11,863 | 327 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 16,249 | 16,249 | 1,100 | 14,869 | |||||||||||||||||||||||||||
Residential and land development | 22,187 | 21,083 | 70 | 21,638 | |||||||||||||||||||||||||||
Real estate, construction | 6,329 | 6,266 | 663 | 5,147 | 8 | ||||||||||||||||||||||||||
Real estate, mortgage | 20,864 | 20,228 | 1,229 | 20,020 | 319 | ||||||||||||||||||||||||||
Commercial and industrial | 916 | 916 | 12 | 791 | 23 | ||||||||||||||||||||||||||
Total | $ | 66,545 | $ | 64,742 | $ | 3,074 | $ | 62,465 | $ | 350 | |||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | Income | |||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | $ | 15,402 | $ | 15,402 | $ | $ | 12,488 | $ | |||||||||||||||||||||||
Residential and land development | 24,941 | 21,746 | 7,382 | ||||||||||||||||||||||||||||
Real estate, construction | 4,743 | 4,711 | 297 | ||||||||||||||||||||||||||||
Real estate, mortgage | 9,965 | 9,957 | 1,111 | ||||||||||||||||||||||||||||
Commercial and industrial | 864 | 864 | 413 | 13 | |||||||||||||||||||||||||||
Other | 5 | 5 | |||||||||||||||||||||||||||||
Total | 55,920 | 52,685 | 21,691 | 13 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Residential and land development | 2,364 | 2,364 | 900 | ||||||||||||||||||||||||||||
Real estate, construction | 2,406 | 2,406 | 720 | 185 | 11 | ||||||||||||||||||||||||||
Real estate, mortgage | 12,552 | 11,621 | 1,314 | 5,971 | 187 | ||||||||||||||||||||||||||
Commercial and industrial | 88 | 88 | 77 | ||||||||||||||||||||||||||||
Other | 126 | 126 | 17 | 31 | |||||||||||||||||||||||||||
Total | 17,536 | 16,605 | 3,028 | 6,187 | 198 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 15,402 | 15,402 | 12,488 | ||||||||||||||||||||||||||||
Residential and land development | 27,305 | 24,110 | 900 | 7,382 | |||||||||||||||||||||||||||
Real estate, construction | 7,149 | 7,117 | 720 | 482 | 11 | ||||||||||||||||||||||||||
Real estate, mortgage | 22,517 | 21,578 | 1,314 | 7,082 | 187 | ||||||||||||||||||||||||||
Commercial and industrial | 952 | 952 | 77 | 413 | 13 | ||||||||||||||||||||||||||
Other | 131 | 131 | 17 | 31 | |||||||||||||||||||||||||||
Total | $ | 73,456 | $ | 69,290 | $ | 3,028 | $ | 27,878 | $ | 211 | |||||||||||||||||||||
Transactions in the allowance for loan losses for the years ended December 31, 2013, 2012 and 2011, and the balances of loans, individually and collectively evaluated for impairment, as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||||||||||||
Gaming | Residential and | Real Estate, | Real Estate, | Commercial | Other | Total | |||||||||||||||||||||||||
Construction | Mortgage | and Industrial | |||||||||||||||||||||||||||||
Land | |||||||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,541 | $ | 200 | $ | 967 | $ | 5,273 | $ | 593 | $ | 283 | $ | 8,857 | |||||||||||||||||
Charge-offs | (474 | ) | (7,325 | ) | (1,013 | ) | (1,048 | ) | (24 | ) | (238 | ) | (10,122 | ) | |||||||||||||||||
Recoveries | 110 | 67 | 97 | 150 | 26 | 88 | 538 | ||||||||||||||||||||||||
Provision | (200 | ) | 7,834 | 644 | 1,178 | 37 | 168 | 9,661 | |||||||||||||||||||||||
Ending Balance | $ | 977 | $ | 776 | $ | 695 | $ | 5,553 | $ | 632 | $ | 301 | $ | 8,934 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 626 | $ | 471 | $ | 615 | $ | 1,698 | $ | 342 | $ | 33 | $ | 3,785 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 351 | $ | 305 | $ | 80 | $ | 3,855 | $ | 290 | $ | 268 | $ | 5,149 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,095 | $ | 13,624 | $ | 5,399 | $ | 28,094 | $ | 2,423 | $ | 69 | $ | 52,704 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 26,475 | $ | 5,779 | $ | 39,588 | $ | 209,064 | $ | 32,584 | $ | 9,155 | $ | 322,645 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 457 | $ | 1,081 | $ | 937 | $ | 4,800 | $ | 557 | $ | 304 | $ | 8,136 | |||||||||||||||||
Charge-offs | (275 | ) | (1,103 | ) | (474 | ) | (1,348 | ) | (203 | ) | (273 | ) | (3,676 | ) | |||||||||||||||||
Recoveries | 7 | 41 | 85 | 133 | |||||||||||||||||||||||||||
Provision | 1,359 | 222 | 504 | 1,814 | 198 | 167 | 4,264 | ||||||||||||||||||||||||
Ending Balance | $ | 1,541 | $ | 200 | $ | 967 | $ | 5,273 | $ | 593 | $ | 283 | $ | 8,857 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,100 | $ | $ | 922 | $ | 1,758 | $ | 300 | $ | 35 | $ | 4,115 | ||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 441 | $ | 200 | $ | 45 | $ | 3,515 | $ | 293 | $ | 248 | $ | 4,742 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 20,357 | $ | 21,165 | $ | 8,267 | $ | 33,848 | $ | 2,525 | $ | 72 | $ | 86,234 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 39,830 | $ | 6,173 | $ | 44,319 | $ | 212,572 | $ | 32,479 | $ | 9,476 | $ | 344,849 | |||||||||||||||||
Gaming | Residential and | Real Estate, | Real Estate, | Commercial | Other | Total | |||||||||||||||||||||||||
Land | Construction | Mortgage | and Industrial | ||||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 465 | $ | 1,070 | $ | 1,020 | $ | 3,413 | $ | 480 | $ | 202 | $ | 6,650 | |||||||||||||||||
Charge-offs | (276 | ) | (1,126 | ) | (95 | ) | (175 | ) | (1,672 | ) | |||||||||||||||||||||
Recoveries | 35 | 32 | 48 | 24 | 84 | 223 | |||||||||||||||||||||||||
Provision | (43 | ) | 11 | 161 | 2,465 | 148 | 193 | 2,935 | |||||||||||||||||||||||
Ending Balance | $ | 457 | $ | 1,081 | $ | 937 | $ | 4,800 | $ | 557 | $ | 304 | $ | 8,136 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | 900 | $ | 853 | $ | 1,953 | $ | 349 | $ | 57 | $ | 4,112 | ||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 457 | $ | 181 | $ | 84 | $ | 2,847 | $ | 208 | $ | 247 | $ | 4,024 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 15,677 | $ | 24,110 | $ | 9,660 | $ | 37,988 | $ | 9,493 | $ | 3,013 | $ | 99,941 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 41,542 | $ | 4,916 | $ | 51,382 | $ | 200,423 | $ | 24,457 | $ | 9,746 | $ | 332,466 | |||||||||||||||||
BANK_PREMISES_AND_EQUIPMENT
BANK PREMISES AND EQUIPMENT | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||
BANK PREMISES AND EQUIPMENT | ' | ||||||||||||||
NOTE D - BANK PREMISES AND EQUIPMENT: | |||||||||||||||
Bank premises and equipment are shown as follows (in thousands): | |||||||||||||||
December 31, | Estimated Useful Lives | 2013 | 2012 | 2011 | |||||||||||
Land | $ | 5,982 | $ | 5,985 | $ | 5,985 | |||||||||
Building | 5 - 40 years | 30,540 | 30,504 | 30,494 | |||||||||||
Furniture, fixtures and equipment | 3 - 10 years | 15,272 | 14,487 | 14,377 | |||||||||||
Totals, at cost | 51,794 | 50,976 | 50,856 | ||||||||||||
Less: Accumulated depreciation | 26,486 | 24,754 | 22,821 | ||||||||||||
Totals | $ | 25,308 | $ | 26,222 | $ | 28,035 | |||||||||
OTHER_REAL_ESTATE
OTHER REAL ESTATE | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Real Estate [Abstract] | ' | ||||||||||||||||||
OTHER REAL ESTATE | ' | ||||||||||||||||||
NOTE E – OTHER REAL ESTATE: | |||||||||||||||||||
The Company’s other real estate consisted of the following as of December 31, 2013, 2012 and 2011, respectively (in thousands): | |||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||
Number of | Balance | Number of | Balance | Number of | Balance | ||||||||||||||
Properties | Properties | Properties | |||||||||||||||||
Construction, land development and other land | 18 | $ | 4,887 | 11 | $ | 2,834 | 8 | $ | 1,544 | ||||||||||
1 - 4 family residential properties | 6 | 180 | 6 | 576 | 8 | 821 | |||||||||||||
Nonfarm nonresidential | 17 | 4,563 | 14 | 3,573 | 16 | 3,788 | |||||||||||||
Other | 1 | 25 | |||||||||||||||||
Total | 41 | $ | 9,630 | 32 | $ | 7,008 | 32 | $ | 6,153 |
DEPOSITS
DEPOSITS | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
DEPOSITS | ' | ||||
NOTE F - DEPOSITS: | |||||
At December 31, 2013, the scheduled maturities of time deposits are as follows (in thousands): | |||||
2014 | $ | 78,579 | |||
2015 | 10,183 | ||||
2016 | 2,428 | ||||
2017 | 7,948 | ||||
2018 | 5,298 | ||||
Total | $ | 104,436 | |||
Time deposits of $100,000 or more at December 31, 2013 included brokered deposits of $5,000,000, which mature in 2017. | |||||
Deposits held for related parties amounted to $7,511,446, $8,720,550 and $7,499,805 at December 31, 2013, 2012 and 2011, respectively. | |||||
Overdrafts totaling $764,262, $1,435,922 and $679,220 were reclassified as loans at December 31, 2013, 2012 and 2011, respectively. |
FEDERAL_FUNDS_PURCHASED_AND_SE
FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 12 Months Ended |
Dec. 31, 2013 | |
Banking And Thrift [Abstract] | ' |
FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | ' |
NOTE G – FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE: | |
At December 31, 2013, the Company had facilities in place to purchase federal funds up to $44,000,000 under established credit arrangements. At December 31, 2013, 2012 and 2011, federal funds purchased and securities sold under agreements to repurchase included only funds invested by customers in a non-deposit product of the bank subsidiary. These accounts are non-insured, non-deposit accounts which allow customers to earn interest on their account with no restrictions as to the number of transactions. They are set up as sweep accounts with no check-writing capabilities and require the customer to have at least one operating deposit account. |
BORROWINGS
BORROWINGS | 12 Months Ended |
Dec. 31, 2013 | |
Banking And Thrift [Abstract] | ' |
BORROWINGS | ' |
NOTE H - BORROWINGS: | |
At December 31, 2013, the Company was able to borrow up to $32,863,511 from the Federal Reserve Bank Discount Window Primary Credit Program. The borrowing limit is based on the amount of collateral pledged, with certain loans from the Bank’s portfolio serving as collateral. Borrowings bear interest at 25 basis points over the current fed funds rate and have a maturity of one day. There was no outstanding balance at December 31, 2013. | |
At December 31, 2013, the Company had $77,683,716 outstanding in advances under a $85,036,571 line of credit with the FHLB. One advance in the amount of $5,000,000 bears interest at a variable rate of 43.2 basis points above the 1 month LIBOR rate, which was .599% at December 31, 2013, and matures in 2017. Additional advances in the amounts of $40,000,000, $10,000,000 and $20,000,000 bear interest at .20%, .20% and .16%, respectively, and mature in 2014. The remaining balance consists of smaller advances bearing interest from 3.04% to 7.00% with maturity dates from 2015 – 2042. The advances are collateralized by a blanket floating lien on a substantial portion of the Company’s real estate loans. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
INCOME TAXES | ' | ||||||||||||||||||||||||
NOTE I - INCOME TAXES: | |||||||||||||||||||||||||
Deferred taxes (or deferred charges) as of December 31, 2013, 2012 and 2011, included in other assets or other liabilities, were as follows (in thousands): | |||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan losses | $ | 3,037 | $ | 3,011 | $ | 2,777 | |||||||||||||||||||
Employee benefit plans’ liabilities | 4,326 | 4,135 | 3,846 | ||||||||||||||||||||||
Unrealized loss on available for sale securities, charged from equity | 3,684 | ||||||||||||||||||||||||
Earned retiree health benefits plan liability | 1,638 | 1,673 | 1,673 | ||||||||||||||||||||||
Other | 1,218 | 1,170 | 781 | ||||||||||||||||||||||
Deferred tax assets | 13,903 | 9,989 | 9,077 | ||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Unrealized gain on available for sale securities, charged to equity | 1,556 | 1,580 | |||||||||||||||||||||||
Unearned retiree health benefits plan asset | 579 | 948 | 1,086 | ||||||||||||||||||||||
Bank premises and equipment | 5,075 | 5,366 | 5,720 | ||||||||||||||||||||||
Other | 129 | 92 | 343 | ||||||||||||||||||||||
Deferred tax liabilities | 5,783 | 7,962 | 8,729 | ||||||||||||||||||||||
Net deferred taxes | $ | 8,120 | $ | 2,027 | $ | 348 | |||||||||||||||||||
Income taxes consist of the following components (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current | $ | (1,717 | ) | $ | 1,425 | $ | 721 | ||||||||||||||||||
Deferred | (484 | ) | (1,517 | ) | (1,925) | ||||||||||||||||||||
Totals | $ | (2,201 | ) | $ | (92 | ) | $ | (1,204) | |||||||||||||||||
Income taxes amounted to less than the amounts computed by applying the U.S. Federal income tax rate of 34.0% for 2013, 2012 and 2011 to income (loss) before income taxes. The reasons for these differences are shown below (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Tax | Rate | Tax | Rate | Tax | Rate | ||||||||||||||||||||
Taxes computed at statutory rate | $ | -931 | -34 | $ | 867 | 34 | $ | -1 | 34 | ||||||||||||||||
Increase (decrease) resulting from: | |||||||||||||||||||||||||
Tax-exempt interest income | -539 | -20 | -532 | -21 | -557 | ||||||||||||||||||||
Income from BOLI | -170 | -6 | -195 | -8 | -170 | ||||||||||||||||||||
Federal tax credits | -298 | -11 | -372 | -15 | -366 | ||||||||||||||||||||
Death benefits on life insurance | -159 | ||||||||||||||||||||||||
Other | -263 | -9 | 140 | 6 | 49 | ||||||||||||||||||||
Total income tax benefit | $ | (2,201) | -80 | $ | (92) | -4 | $ | (1,204) | |||||||||||||||||
The Company has reviewed its income tax positions and specifically considered the recognition and measurement requirements of the benefits recorded in its financial statements for tax positions taken or expected to be taken in its tax returns. Based on its evaluation of these tax positions for its open tax years, the Company believes that it is more likely than not it will realize the net deferred tax asset and it has not recorded any tax liability for uncertain tax positions as of December 31, 2013, 2012 and 2011. |
SHAREHOLDERS_EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
SHAREHOLDERS' EQUITY | ' | ||||||||||||||||||||||||
NOTE J - SHAREHOLDERS’ EQUITY: | |||||||||||||||||||||||||
Shareholders’ equity of the Company includes the undistributed earnings of the bank subsidiary. Dividends to the Company’s shareholders can generally be paid only from dividends paid to the Company by its bank subsidiary. Consequently, dividends are dependent upon the earnings, capital needs, regulatory policies and statutory limitations affecting the bank subsidiary. Dividends paid by the bank subsidiary are subject to the written approval of the Commissioner of Banking and Consumer Finance of the State of Mississippi and the Federal Deposit Insurance Corporation (the “FDIC”). At December 31, 2013, $25,428,742 of undistributed earnings of the bank subsidiary included in consolidated surplus and retained earnings was available for future distribution to the Company as dividends. Dividends paid by the Company are subject to the written approval of the Federal Reserve Bank (“FRB”). | |||||||||||||||||||||||||
On February 25, 2009, the Board approved the repurchase of up to 3% of the outstanding shares of the Company’s common stock. As a result of this repurchase plan, 47,756 shares have been repurchased and retired through December 31, 2013. | |||||||||||||||||||||||||
The bank subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by the regulators that, if undertaken, could have a direct material effect on the bank subsidiary’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the bank subsidiary must meet specific capital guidelines that involve quantitative measures of the bank subsidiary’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The bank subsidiary’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the bank subsidiary to maintain minimum amounts and ratios of Total and Tier 1 capital to risk-weighted assets, and Tier 1 capital to average assets. | |||||||||||||||||||||||||
As of December 31, 2013, the most recent notification from the FDIC categorized the bank subsidiary as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the bank subsidiary must have a Total risk-based capital ratio of 10.00% or greater, a Tier 1 risk-based capital ratio of 6.00% or greater and a Leverage capital ratio of 5.00% or greater. There are no conditions or events since that notification that Management believes have changed the bank subsidiary’s category. | |||||||||||||||||||||||||
The Company’s actual capital amounts and ratios and required minimum capital amounts and ratios for 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||||||
Actual | For Capital Adequacy Purposes | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 111,141 | 22.79% | $ | 39,022 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 105,009 | 21.54% | 19,511 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 105,009 | 13.48% | 31,170 | 4.00% | |||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 112,342 | 21.29% | $ | 42,216 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 105,728 | 20.04% | 21,108 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 105,728 | 13.07% | 32,361 | 4.00% | |||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 110,762 | 20.86% | $ | 42,475 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 104,116 | 19.61% | 21,238 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 104,116 | 12.84% | 32,436 | 4.00% | |||||||||||||||||||||
The bank subsidiary’s actual capital amounts and ratios and required minimum capital amounts and ratios and capital amounts and ratios to be well capitalized for 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||||||
Actual | For Capital | To Be Well | |||||||||||||||||||||||
Adequacy Purposes | Capitalized | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $106,870 | 21.94% | $ 38,968 | 8.00% | $ 48,711 | 10.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 100,746 | 20.69% | 19,484 | 4.00% | 29,227 | 6.00% | |||||||||||||||||||
Tier 1 Capital (to Average Assets) | 100,746 | 13.02% | 30,958 | 4.00% | 38,697 | 5.00% | |||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $107,885 | 20.47% | $ 42,148 | 8.00% | $ 52,685 | 10.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 101,241 | 19.22% | 21,074 | 4.00% | 31,611 | 6.00% | |||||||||||||||||||
Tier 1 Capital (to Average Assets) | 101,241 | 12.62% | 32,086 | 4.00% | 40,108 | 5.00% | |||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $108,149 | 20.40% | $ 42,413 | 8.00% | $ 53,014 | 10.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 101,503 | 19.15% | 21,207 | 4.00% | 31,809 | 6.00% | |||||||||||||||||||
Tier 1 Capital (to Average Assets) | 101,503 | 12.56% | 32,332 | 4.00% | 40,407 | 5.00% |
OTHER_INCOME_AND_EXPENSES
OTHER INCOME AND EXPENSES | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
OTHER INCOME AND EXPENSES | ' | ||||||||||||
NOTE K - OTHER INCOME AND EXPENSES: | |||||||||||||
Other income consisted of the following (in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Other service charges, commissions and fees | $ | 74 | $ | 83 | $ | 78 | |||||||
Rentals | 433 | 442 | 392 | ||||||||||
Other | 100 | 142 | 45 | ||||||||||
Totals | $ | 607 | $ | 667 | $ | 515 | |||||||
Other expenses consisted of the following (in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Advertising | $ | 596 | $ | 489 | $ | 506 | |||||||
Data processing | 1,254 | 1,434 | 858 | ||||||||||
FDIC and state banking assessments | 870 | 503 | 1,688 | ||||||||||
Legal and accounting | 535 | 511 | 600 | ||||||||||
Other real estate | 963 | 648 | 1,350 | ||||||||||
ATM expense | 2,367 | 2,033 | 1,973 | ||||||||||
Trust expense | 332 | 314 | 331 | ||||||||||
Other | 1,876 | 1,813 | 1,709 | ||||||||||
Totals | $ | 8,793 | $ | 7,745 | $ | 9,015 | |||||||
FINANCIAL_INSTRUMENTS_WITH_OFF
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | 12 Months Ended |
Dec. 31, 2013 | |
Investments All Other Investments [Abstract] | ' |
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | ' |
NOTE L - FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK: | |
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and irrevocable letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheet. The contract amounts of those instruments reflect the extent of involvement the bank subsidiary has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and irrevocable letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | |
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any conditions established in the agreement. Irrevocable letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Commitments and irrevocable letters of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments and irrevocable letters of credit may expire without being drawn upon, the total amounts do not necessarily represent future cash requirements. The Company evaluated each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained upon extension of credit is based on Management’s credit evaluation of the customer. Collateral obtained varies but may include equipment, real property and inventory. | |
The Company generally grants loans to customers in its trade area. | |
At December 31, 2013, 2012 and 2011, the Company had outstanding irrevocable letters of credit aggregating $3,059,011, $3,599,011 and $3,094,258, respectively. At December 31, 2013, 2012 and 2011, the Company had outstanding unused loan commitments aggregating $68,171,024, $80,741,699 and $76,421,050, respectively. Approximately $38,324,000, $46,956,000 and $42,051,000 of outstanding commitments were at fixed rates and the remainder was at variable rates at December 31, 2013, 2012 and 2011, respectively. |
CONTINGENCIES
CONTINGENCIES | 12 Months Ended |
Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
CONTINGENCIES | ' |
NOTE M - CONTINGENCIES: | |
The Bank is involved in various legal matters and claims which are being defended and handled in the ordinary course of business. None of these matters is expected, in the opinion of Management, to have a material adverse effect upon the financial position or results of operations of the Company. |
CONDENSED_PARENT_COMPANY_ONLY_
CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION | ' | ||||||||||||
NOTE N - CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION: | |||||||||||||
Peoples Financial Corporation began its operations September 30, 1985, when it acquired all the outstanding stock of The Peoples Bank, Biloxi, Mississippi. A condensed summary of its financial information is shown below. | |||||||||||||
CONDENSED BALANCE SHEETS (IN THOUSANDS): | |||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||
Assets | |||||||||||||
Investments in subsidiaries, at underlying equity: | |||||||||||||
Bank subsidiary | $ | 94,883 | $ | 106,266 | $ | 104,731 | |||||||
Nonbank subsidiary | 1 | 1 | 1 | ||||||||||
Cash in bank subsidiary | 487 | 360 | 808 | ||||||||||
Other assets | 3,937 | 4,288 | 4,588 | ||||||||||
Total assets | $ | 99,308 | $ | 110,915 | $ | 110,128 | |||||||
Liabilities and Shareholders’ Equity: | |||||||||||||
Other liabilities | $ | 161 | $ | 161 | $ | 676 | |||||||
Total liabilities | 161 | 161 | 676 | ||||||||||
Shareholders’ equity | 99,147 | 110,754 | 109,452 | ||||||||||
Total liabilities and shareholders’ equity | $ | 99,308 | $ | 110,915 | $ | 110,128 | |||||||
CONDENSED STATEMENTS OF OPERATIONS (IN THOUSANDS): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Earnings of unconsolidated bank subsidiary: | |||||||||||||
Distributed earnings | $ | $ | 1,150 | $ | 898 | ||||||||
Undistributed earnings (loss) | -494 | 1,845 | 285 | ||||||||||
Loss on impairment of other investments | -360 | ||||||||||||
Other income | 57 | -71 | 110 | ||||||||||
Total income (loss) | -437 | 2,564 | 1,293 | ||||||||||
Expenses | |||||||||||||
Other | 122 | 105 | 95 | ||||||||||
Total expenses | 122 | 105 | 95 | ||||||||||
Income (loss) before income taxes | -559 | 2,459 | 1,198 | ||||||||||
Income tax benefit | -21 | -182 | -5 | ||||||||||
Net income (loss) | $ | (538) | $ | 2,641 | $ | 1,203 | |||||||
CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Cash flows from operating activities: | |||||||||||||
Net income (loss) | $ | (538) | $ | 2,641 | $ | 1,203 | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||
(Income) loss on other investments | -42 | 84 | -97 | ||||||||||
Loss on impairment of other investments | 360 | ||||||||||||
Undistributed (income) loss of unconsolidated subsidiaries | 494 | -1,845 | -285 | ||||||||||
Other assets | 164 | -182 | 54 | ||||||||||
Other liabilities | -1 | ||||||||||||
Net cash provided by operating activities | 78 | 1,057 | 875 | ||||||||||
Cash flows from investing activities: | |||||||||||||
Redemption of equity securities | 230 | 36 | 93 | ||||||||||
Net cash provided by investing activities | 230 | 36 | 93 | ||||||||||
Cash flows from financing activities: | |||||||||||||
Retirement of stock | -181 | -193 | |||||||||||
Dividends paid | -1,541 | -924 | |||||||||||
Net cash used in financing activities | -181 | -1,541 | -1,117 | ||||||||||
Net increase (decrease) in cash | 127 | -448 | -149 | ||||||||||
Cash, beginning of year | 360 | 808 | 957 | ||||||||||
Cash, end of year | $ | 487 | $ | 360 | $ | 808 | |||||||
The Company paid income taxes of $810,000, $835,000 and $755,000 in 2013, 2012 and 2011, respectively. No interest was paid during the three years ended December 31, 2013. |
EMPLOYEE_AND_DIRECTOR_BENEFIT_
EMPLOYEE AND DIRECTOR BENEFIT PLANS | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||
EMPLOYEE AND DIRECTOR BENEFIT PLANS | ' | ||||||||||||
NOTE O - EMPLOYEE AND DIRECTOR BENEFIT PLANS: | |||||||||||||
The Company sponsors the Peoples Financial Corporation Employee Stock Ownership Plan (“ESOP”). Employees who are in a position requiring at least 1,000 hours of service during a plan year and who are 21 years of age are eligible to participate in the ESOP. The Plan included 401(k) provisions and the former Gulf National Bank Profit Sharing Plan. Effective January 1, 2001, the ESOP was amended to separate the 401(k) funds into the Peoples Financial Corporation 401(k) Profit Sharing Plan. The separation had no impact on the eligibility or benefits provided to participants of either plan. The 401(k) provides for a matching contribution of 75% of the amounts contributed by the employee (up to 6% of compensation). Contributions are determined by the Board of Directors and may be paid either in cash or Peoples Financial Corporation capital stock. Total contributions to the plans charged to operating expense were $220,000, $330,000 and $270,000 in 2013, 2012 and 2011, respectively. | |||||||||||||
Compensation expense of $7,594,790, $7,691,059 and $8,426,829 was the basis for determining the ESOP contribution allocation to participants for 2013, 2012 and 2011, respectively. The ESOP held 359,030, 383,141 and 429,158 allocated shares at December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company established an Executive Supplemental Income Plan and a Directors’ Deferred Income Plan, which provide for pre-retirement and post-retirement benefits to certain key executives and directors. Benefits under the Executive Supplemental Income Plan are based upon the position and salary of the officer at retirement or death. Normal retirement benefits under the plan are equal to 67% of salary for the president and chief executive officer, 58% of salary for the executive vice president and 50% of salary for all other executive officers and are payable monthly over a period of fifteen years. Under the Directors’ Deferred Income Plan, the directors are given an opportunity to defer receipt of their annual directors’ fees until age sixty-five. For those who choose to participate, benefits are payable monthly for ten years beginning the first day of the month following the director’s normal retirement date. The normal retirement date is the later of the normal retirement age (65) or separation of service. Interest on deferred fees accrues at an annual rate of ten percent, compounded annually. The Company has acquired insurance policies, with the bank subsidiary as owner and beneficiary, which it may use as a source to pay potential benefits to the plan participants. These contracts are carried at their cash surrender value, which amounted to $15,824,497, $15,363,241 and $14,833,939 at December 31, 2013, 2012 and 2011, respectively. The present value of accumulated benefits under these plans, using an interest rate of 4.50% in 2013 and 5.25% in 2012 and 2011, and the interest ramp-up method in 2013, 2012 and 2011, has been accrued. The accrual amounted to $11,004,738, $10,572,681 and $9,764,957 at December 31, 2013, 2012 and 2011, respectively, and is included in Employee and director benefit plans liabilities. | |||||||||||||
The Company also has additional plans for non-vested post-retirement benefits for certain key executives. The Company has acquired insurance policies, with the bank subsidiary as owner and beneficiary, which it may use as a source to pay potential benefits to the plan participants. These contracts are carried at their cash surrender value, which amounted to $1,218,175, $1,105,741 and $997,133 at December 31, 2013, 2012 and 2011, respectively. The present value of accumulated benefits under these plans using an interest rate of 4.50% in 2013 and 5.25% in 2012 and 2011, and the projected unit cost method has been accrued. The accrual amounted to $1,435,554, $1,328,657, and $1,314,727 at December 31, 2013, 2012 and 2011, respectively, and is included in Employee and director benefit plans liabilities. | |||||||||||||
Additionally, there are two endorsement split dollar policies, with the bank subsidiary as owner and beneficiary, which provide a guaranteed death benefit to the participants’ beneficiaries. These contracts are carried at their cash surrender value, which amounted to $269,271, $262,466 and $255,166 at December 31, 2013, 2012 and 2011, respectively. The present value of accumulated benefits under these plans using an interest rate of 4.50% in 2013, 5.25% in 2012 and 6.00% in 2011, and the projected unit cost method has been accrued. The accrual amounted to $78,759, $68,253 and $78,142 at December 31, 2013, 2012 and 2011, respectively, and is included in Employee and director benefit plans liabilities. | |||||||||||||
The Company has additional plans for non-vested post-retirement benefits for directors. The Company has acquired insurance policies, with the bank subsidiary as owner and beneficiary, which it may use as a source to pay potential benefits to the plan participants. These contracts are carried at their cash surrender value, which amounted to $138,001, $129,367 and $118,787 at December 31, 2013, 2012 and 2011, respectively. The present value of accumulated benefits under these plans using an interest rate of 4.50% in 2013 and 5.25% in 2012 and 2011, and the projected unit cost method has been accrued. The accrual amounted to $206,650, $192,528 and $152,781 at December 31, 2013, 2012 and 2011, respectively, and is included in Employee and director benefit plans liabilities. | |||||||||||||
The Company provides post-retirement health insurance to certain of its retired employees. Employees are eligible to participate in the retiree health plan if they retire from active service no earlier than their Social Security normal retirement age, which varies from 65 to 67 based on the year of birth. In addition, the employee must have at least 25 continuous years of service with the Company immediately preceding retirement. However, any active employee who was at least age 65 as of January 1, 1995, does not have to meet the 25 years of service requirement. The accumulated post-retirement benefit obligation at January 1, 1995, was $517,599, which the Company elected to amortize over 20 years. The Company reserves the right to modify, reduce or eliminate these health benefits. The Company has chosen to not offer this post-retirement benefit to individuals entering the employ of the Company after December 31, 2006. In 2011, the Company offered a voluntary early retirement program to employees who, as of December 31, 2011, were between the ages of 55 and 64 and had at least 25 continuous years of service. Eight employees accepted the package, which resulted in special termination benefits for the retiree health plan of $459,064 for 2011. Effective January 1, 2012, the Company amended the retiree health plan. This amendment requires that employees who are eligible and enroll in the bank subsidiary’s group medical and dental health care plans upon their retirement must enroll in Medicare Parts A, B and D when first eligible upon their retirement from the bank subsidiary. This results in the bank subsidiary’s programs being secondary insurance coverage for retired employees and any dependent(s), if applicable, while Medicare Parts A and B will be their primary coverage, and Medicare Part D will be the sole and exclusive prescription drug benefit plan for retired employees. This amendment reduced the accumulated post-retirement benefit obligation by $3,799,308 as of December 31, 2011. Effective January 1, 2014, the Company amended the retiree health plan. This amendment reduces the age for eligibility to 60 for those employees meeting all other eligibility requirements. This amendment increased the accumulated post-retirement benefit obligation by $1,150,229 as of December 31, 2013. | |||||||||||||
The following is a summary of the components of the net periodic post-retirement benefit cost (credit)(in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 55 | $ | 45 | $ | 293 | |||||||
Interest cost | 82 | 72 | 222 | ||||||||||
Amortization of net gain | -2 | -16 | -46 | ||||||||||
Amortization of net transition obligation | 21 | ||||||||||||
Amortization of prior service cost (credit) | -183 | -203 | 83 | ||||||||||
Special termination benefit | 459 | ||||||||||||
Net periodic post-retirement benefit cost (credit) | $ | -48 | $ | (102) | $ | 1,032 | |||||||
The discount rate used in determining the accumulated post-retirement benefit obligation was 4.80% in 2013, 4.00% in 2012 and 4.50% in 2011. The assumed health care cost trend rate used in measuring the accumulated post-retirement benefit obligation was 7.25% in 2013. The rate was assumed to decrease gradually to 5.00% for 2022 and remain at that level thereafter. If the health care cost trend rate assumptions were increased 1.00%, the accumulated post-retirement benefit obligation as of December 31, 2013, would be increased by 13.26 %, and the aggregate of the service and interest cost components of the net periodic post-retirement benefit cost for the year then ended would have increased by 19.18%. If the health care cost trend rate assumptions were decreased 1.00%, the accumulated post-retirement benefit obligation as of December 31, 2013, would be decreased by 10.87%, and the aggregate of the service and interest cost components of the net periodic post-retirement benefit cost for the year then ended would have decreased by 14.91%. | |||||||||||||
The following table presents the estimated benefit payments for each of the next five years and in the aggregate for the next five years (in thousands): | |||||||||||||
2014 | $ | 206 | |||||||||||
2015 | 222 | ||||||||||||
2016 | 190 | ||||||||||||
2017 | 170 | ||||||||||||
2018 | 144 | ||||||||||||
2019-2023 | 645 | ||||||||||||
The following is a reconciliation of the accumulated post-retirement benefit obligation, which is included in Other Liabilities (in thousands): | |||||||||||||
Accumulated post-retirement benefit obligation as of December 31, 2012 | $ | 1,906 | |||||||||||
Service cost | 55 | ||||||||||||
Interest cost | 82 | ||||||||||||
Actuarial gain | -250 | ||||||||||||
Plan changes | 1,150 | ||||||||||||
Benefits paid | -90 | ||||||||||||
Accumulated post-retirement benefit obligation as of December 31, 2013 | $ | 2,853 | |||||||||||
The following is a summary of the change in plan assets (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Fair value of plan assets at beginning of year | $ | $ | $ | ||||||||||
Actual return on assets | |||||||||||||
Employer contribution | 90 | 67 | 76 | ||||||||||
Benefits paid, net | (90) | (67) | (76) | ||||||||||
Fair value of plan assets at end of year | $ | $ | $ | ||||||||||
Amounts recognized in the Accumulated Other Comprehensive Income (Loss), net of tax, were (in thousands): | |||||||||||||
For the year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Net gain | $ | 288 | $ | 123 | $ | 256 | |||||||
Prior service charge | 837 | 1,718 | 1,852 | ||||||||||
Total accumulated other comprehensive income | $ | 1,125 | $ | 1,841 | $ | 2,108 | |||||||
Amounts recognized in the accumulated post-retirement benefit obligation and other comprehensive income (loss) were (in thousands): | |||||||||||||
For the year ended December 31, | 2013 | ||||||||||||
Unrecognized actuarial gain | $ | -249 | |||||||||||
Amortization of prior service cost | 1,334 | ||||||||||||
Total accumulated other comprehensive loss | $ | 1,085 | |||||||||||
The actuarial gain and prior service credit that will be recognized in accumulated other comprehensive income during 2014 is $13,484 and $81,381, respectively. |
FAIR_VALUE_MEASUREMENTS_AND_DI
FAIR VALUE MEASUREMENTS AND DISCLOSURES | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENTS AND DISCLOSURES | ' | ||||||||||||||||||||
NOTE P - FAIR VALUE MEASUREMENTS AND DISCLOSURES: | |||||||||||||||||||||
The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Available for sale securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record other assets at fair value on a non-recurring basis, such as impaired loans and ORE. These non-recurring fair value adjustments typically involve the application of lower of cost or market accounting or write-downs of individual assets. Additionally, the Company is required to disclose, but not record, the fair value of other financial instruments. | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: | |||||||||||||||||||||
Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. | |||||||||||||||||||||
Level 2 - Valuation is based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||||||||
Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of option pricing models, discounted cash flow models and similar techniques. | |||||||||||||||||||||
Following is a description of valuation methodologies used to determine the fair value of financial assets and liabilities. | |||||||||||||||||||||
Cash and Due from Banks | |||||||||||||||||||||
The carrying amount shown as cash and due from banks approximates fair value. | |||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||
The fair value of available for sale securities is based on quoted market prices. The Company’s available for sale securities are reported at their estimated fair value, which is determined utilizing several sources. The primary source is Interactive Data Corporation, which utilizes pricing models that vary based by asset class and include available trade, bid and other market information and whose methodology includes broker quotes, proprietary models and vast descriptive databases. The other source for determining fair value is matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark securities. All of the Company’s available for sale securities are Level 2 assets. | |||||||||||||||||||||
Held to Maturity Securities | |||||||||||||||||||||
The fair value of held to maturity securities is based on quoted market prices. | |||||||||||||||||||||
Other Investments | |||||||||||||||||||||
The carrying amount shown as other investments approximates fair value. | |||||||||||||||||||||
Federal Home Loan Bank Stock | |||||||||||||||||||||
The carrying amount shown as Federal Home Loan Bank Stock approximates fair value. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
The fair value of fixed rate 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 for the remaining maturities. The cash flows considered in computing the fair value of such loans are segmented into categories relating to the nature of the contract and collateral based on contractual principal maturities. Appropriate adjustments are made to reflect probable credit losses. Cash flows have not been adjusted for such factors as prepayment risk or the effect of the maturity of balloon notes. The fair value of floating rate loans is estimated to be its carrying value. At each reporting period, the Company determines which loans are impaired. Accordingly, the Company’s impaired loans are reported at their estimated fair value on a non-recurring basis. An allowance for each impaired loan, which are generally collateral-dependent, is calculated based on the fair value of its collateral. The fair value of the collateral is based on appraisals performed by third-party valuation specialists. Factors including the assumptions and techniques utilized by the appraiser are considered by Management. If the recorded investment in the impaired loan exceeds the measure of fair value of the collateral, a valuation allowance is recorded as a component of the allowance for loan losses. When the fair value of the collateral is based on an observable market price, the Company records the impaired loan as a non-recurring Level 2 asset. When an appraised value is not available or Management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the impaired loan as a non-recurring Level 3 asset. | |||||||||||||||||||||
Other Real Estate | |||||||||||||||||||||
In the course of lending operations, Management may determine that it is necessary to foreclose on the related collateral. Other real estate acquired through foreclosure is carried at fair value, less estimated costs to sell. The fair value of the collateral is based on appraisals performed by third-party valuation specialists. Factors including the assumptions and techniques utilized by the appraiser are considered by Management. If the current appraisal is more than one year old and/or the loan balance is more than $200,000, a new appraisal is obtained. Otherwise, the Bank’s in-house property evaluator and Management will determine the fair value of the collateral, based on comparable sales, market conditions, Management’s plans for disposition and other estimates of fair value obtained from principally independent sources, adjusted for estimated selling costs. When the fair value of the property is based on an observable market price, the Company records the other real estate as a non-recurring Level 2 asset. When an appraised value is not available or Management determines the fair value of the other real estate is further impaired below the appraised value and there is no observable market price, the Company records the other real estate as a non-recurring Level 3 asset. | |||||||||||||||||||||
Cash Surrender Value of Life Insurance | |||||||||||||||||||||
The carrying amount of cash surrender value of bank-owned life insurance approximates fair value. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
The fair value of non-interest bearing demand and interest bearing savings and demand deposits is the amount reported in the financial statements. The fair value of time deposits is estimated by discounting the cash flows using current rates for time deposits with similar remaining maturities. The cash flows considered in computing the fair value of such deposits are based on contractual maturities, since approximately 98% of time deposits provide for automatic renewal at current interest rates. | |||||||||||||||||||||
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | |||||||||||||||||||||
The carrying amount shown as federal funds purchased and securities sold under agreements to repurchase approximates fair value. | |||||||||||||||||||||
Borrowings from Federal Home Loan Bank | |||||||||||||||||||||
The fair value of FHLB fixed rate borrowings is estimated using discounted cash flows based on current incremental borrowing rates for similar types of borrowing arrangements. The fair value of FHLB variable rate borrowings is estimated to be its carrying value. | |||||||||||||||||||||
Commitments to Extend Credit and Standby Letters of Credit | |||||||||||||||||||||
Because commitments to extend credit and standby letters of credit are generally short-term and at variable rates, the contract value and estimated value associated with these instruments are immaterial. | |||||||||||||||||||||
The balances of available for sale securities, which are the only assets measured at fair value on a recurring basis, by level within the fair value hierarchy and by investment type, as of December 31, 2013, 2012 and 2011, were as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
U.S. Treasuries | $ | 43,648 | $ | $ | 43,648 | $ | |||||||||||||||
U.S. Government agencies | 145,805 | 145,805 | |||||||||||||||||||
Mortgage-backed securities | 50,326 | 50,326 | |||||||||||||||||||
States and political subdivisions | 35,011 | 35,011 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 275,440 | $ | $ | 275,440 | $ | |||||||||||||||
December 31, 2012: | |||||||||||||||||||||
U.S. Treasuries | $ | 54,096 | $ | $ | 54,096 | $ | |||||||||||||||
U.S. Government agencies | 149,098 | 149,098 | |||||||||||||||||||
Mortgage-backed securities | 17,441 | 17,441 | |||||||||||||||||||
States and political subdivisions | 37,591 | 37,591 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 258,876 | $ | $ | 258,876 | $ | |||||||||||||||
December 31, 2011: | |||||||||||||||||||||
U.S. Treasuries | $ | 54,010 | $ | $ | 54,010 | $ | |||||||||||||||
U.S. Government agencies | 179,180 | 179,180 | |||||||||||||||||||
Mortgage-backed securities | 5,001 | 5,001 | |||||||||||||||||||
States and political subdivisions | 40,077 | 40,077 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 278,918 | $ | $ | 278,918 | $ | |||||||||||||||
Impaired loans, which are measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
December 31: | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
2013 | $ | 18,831 | $ | $ | $ | 18,831 | |||||||||||||||
2012 | 16,030 | 16,030 | |||||||||||||||||||
2011 | 15,202 | 15,202 | |||||||||||||||||||
The following table presents a summary of changes in the fair value of impaired loans which are measured using Level 3 inputs (in thousands): | |||||||||||||||||||||
For the year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance, beginning of year | $ | 16,030 | $ | 15,202 | $ | 2,136 | |||||||||||||||
Additions to impaired loans and troubled debt restructurings | 17,424 | 2,960 | 17,101 | ||||||||||||||||||
Principal payments, charge-offs and transfers to other real estate | (15,153 | ) | (2,086 | ) | (1,447 | ) | |||||||||||||||
Change in allowance for loan losses on impaired loans | 530 | (46 | ) | (2,588 | ) | ||||||||||||||||
Balance, end of year | $ | 18,831 | $ | 16,030 | $ | 15,202 | |||||||||||||||
Other real estate, which is measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
December 31: | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
2013 | $ | 9,630 | $ | $ | $ | 9,630 | |||||||||||||||
2012 | 7,008 | 7,008 | |||||||||||||||||||
2011 | 6,153 | 6,153 | |||||||||||||||||||
The following table presents a summary of changes in the fair value of other real estate which is measured using Level 3 inputs (in thousands): | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Balance, beginning of year | $ | 7,008 | $ | 6,153 | $ | 5,744 | |||||||||||||||
Loans transferred to ORE | 4,537 | 2,576 | 3,221 | ||||||||||||||||||
Sales | (1,188 | ) | (1,568 | ) | (2,101 | ) | |||||||||||||||
Writedowns | (670 | ) | (153 | ) | (711 | ) | |||||||||||||||
Insurance proceeds from casualty loss | (57 | ) | |||||||||||||||||||
Balance, end of year | $ | 9,630 | $ | 7,008 | $ | 6,153 | |||||||||||||||
The carrying value and estimated fair value of assets and liabilities, by level within the fair value hierarchy, at December 31, 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||
Carrying | Fair Value Measurements Using | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 36,264 | $ | 36,264 | $ | $ | $ | 36,264 | |||||||||||||
Available for sale securities | 275,440 | 275,440 | 275,440 | ||||||||||||||||||
Held to maturity securities | 11,142 | 10,686 | 10,686 | ||||||||||||||||||
Other investments | 3,262 | 3,262 | 3,262 | ||||||||||||||||||
Federal Home Loan Bank stock | 3,834 | 3,834 | 3,834 | ||||||||||||||||||
Loans, net | 366,415 | 369,117 | 369,117 | ||||||||||||||||||
Other real estate | 9,630 | 9,630 | 9,630 | ||||||||||||||||||
Cash surrender value of life insurance | 17,456 | 17,456 | 17,456 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 107,117 | 107,117 | 107,117 | ||||||||||||||||||
Interest bearing | 321,441 | 322,535 | 322,535 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 139,639 | 139,639 | 139,639 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 77,684 | 79,051 | 79,051 | ||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 54,020 | $ | 54,020 | $ | $ | $ | 54,020 | |||||||||||||
Available for sale securities | 258,876 | 258,876 | 258,876 | ||||||||||||||||||
Held to maturity securities | 7,125 | 7,225 | 7,225 | ||||||||||||||||||
Other investments | 3,450 | 3,450 | 3,450 | ||||||||||||||||||
Federal Home Loan Bank stock | 2,380 | 2,380 | 2,380 | ||||||||||||||||||
Loans, net | 422,226 | 425,627 | 425,627 | ||||||||||||||||||
Other real estate | 7,008 | 7,008 | 7,008 | ||||||||||||||||||
Cash surrender value of life insurance | 16,861 | 16,861 | 16,861 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 102,609 | 102,609 | 102,609 | ||||||||||||||||||
Interest bearing | 373,110 | 376,209 | 376,209 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 194,234 | 194,234 | 194,234 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 7,912 | 10,271 | 10,271 | ||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 36,929 | $ | 36,929 | $ | $ | $ | 36,929 | |||||||||||||
Available for sale securities | 278,918 | 278,918 | 278,918 | ||||||||||||||||||
Held to maturity securities | 1,429 | 1,492 | 1,492 | ||||||||||||||||||
Other investments | 3,930 | 3,930 | 3,930 | ||||||||||||||||||
Federal Home Loan Bank stock | 2,581 | 2,581 | 2,581 | ||||||||||||||||||
Loans, net | 424,271 | 427,881 | 427,881 | ||||||||||||||||||
Other real estate | 6,153 | 6,153 | 6,153 | ||||||||||||||||||
Cash surrender value of life insurance | 16,197 | 16,197 | 16,197 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 97,581 | 97,581 | 97,581 | ||||||||||||||||||
Interest bearing | 370,858 | 372,019 | 372,019 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 157,601 | 157,601 | 157,601 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 53,324 | 55,014 | 55,014 |
BUSINESS_AND_SUMMARY_OF_SIGNIF1
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Business of The Company | ' |
Business of The Company | |
Peoples Financial Corporation (the “Company”) is a one-bank holding company headquartered in Biloxi, Mississippi. Its two operating subsidiaries are The Peoples Bank, Biloxi, Mississippi (the “Bank”), and PFC Service Corp. Its principal subsidiary is the Bank, which provides a full range of banking, financial and trust services to state, county and local government entities and individuals and small and commercial businesses operating in those portions of Mississippi, Louisiana and Alabama which are within a fifty mile radius of the Waveland, Wiggins and Gautier branches, the Bank’s three most outlying locations (the “trade area”). | |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Basis of Accounting | ' |
Basis of Accounting | |
The Company and its subsidiaries recognize assets and liabilities, and income and expense, on the accrual basis of accounting. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans, assumptions relating to employee and director benefit plan liabilities and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
In January 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-01, Balance Sheet (Topic 210), Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The amendments limit the scope of ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, to certain derivative instruments (including bifurcated embedded derivatives), repurchase agreements and reverse repurchase agreements, and securities borrowing and lending arrangements that are either (1) offset on the balance sheet or (2) subject to an enforceable master netting arrangement or similar agreement. This ASU amends the scope of FASB ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities, which requires additional disclosure regarding offsetting of assets and liabilities to enable users of financial statements to evaluate the effect or potential effect of netting arrangements on an entity’s financial position. The effective date of the amendments coincides with that of ASU 2011-11 (i.e., for fiscal years beginning on or after January 1, 2013, and interim periods within those years). The amendments will be applied retrospectively for all comparative periods presented on the balance sheet. The adoption of the guidance did not have a material impact on the Company’s financial position, results of operations or disclosures. | |
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments in this update require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component and by the respective line items of net income. The standard was effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. This guidance did not have a material impact on the Company’s financial position or results of operations, and resulted in additional disclosures. | |
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740), which clarifies the presentation requirements of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 and should be applied prospectively. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
In January 2014, the FASB issued ASU No. 2014-1, Investments – Equity Method and Joint Ventures (Topic 323 ) – Accounting for Investments in Qualified Affordable Housing Projects, which permits an entity to make an accounting policy election to account for their investment in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
In January 2014, the FASB issued ASU No. 2014-4, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) – Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, which clarifies when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 and should be applied prospectively. The adoption of this ASU is not expected to have a material effect on the Company’s financial position, results of operations or cash flows. | |
Cash and Due from Banks | ' |
Cash and Due from Banks | |
The Company is required to maintain average reserve balances in its vault or on deposit with the Federal Reserve Bank. The average amount of these reserve requirements was approximately $407,000, $566,000 and $701,000 for the years ending December 31, 2013, 2012 and 2011, respectively. | |
Securities | ' |
Securities | |
The classification of securities is determined by Management at the time of purchase. Securities are classified as held to maturity when the Company has the positive intent and ability to hold the security until maturity. Securities held to maturity are stated at amortized cost. Securities not classified as held to maturity are classified as available for sale and are stated at fair value. Unrealized gains and losses, net of tax, on these securities are recorded in shareholders’ equity as accumulated other comprehensive income. The amortized cost of available for sale securities and held to maturity securities is adjusted for amortization of premiums and accretion of discounts to maturity, determined using the interest method. Such amortization and accretion is included in interest income on securities. A decline in the market value of any investment below cost that is deemed to be other-than-temporary is charged to earnings for the decline in value deemed to be credit related and a new cost basis in the security is established. The decline in value attributed to non-credit related factors is recognized in other comprehensive income. In estimating other-than-temporary losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and nature of the issuer, the cause of the decline, especially if related to a change in interest rates, and the intent and ability of the Company to retain the investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. The specific identification method is used to determine realized gains and losses on sales of securities, which are reported as gain (loss) on sales and calls of securities in non-interest income. | |
Other Investments | ' |
Other Investments | |
Other investments include a low income housing partnership in which the Company is a 99% limited partner. The partnership has qualified to receive annual low income housing federal tax credits that are recognized as a reduction of the current tax expense. The investment is accounted for using the equity method. | |
Federal Home Loan Bank Stock | ' |
Federal Home Loan Bank Stock | |
The Company is a member of the Federal Home Loan Bank of Dallas (“FHLB”) and as such is required to maintain a minimum investment in its stock that varies with the level of FHLB advances outstanding. The stock is bought from and sold to the FHLB based on its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment in accordance with GAAP. | |
Loans | ' |
Loans | |
The loan portfolio consists of commercial and industrial and real estate loans within the Company’s trade area that we have the intent and ability to hold for the foreseeable future or until maturity. The loan policy establishes guidelines relating to pricing; repayment terms; collateral standards including loan to value limits, appraisal and environmental standards; lending authority; lending limits and documentation requirements. | |
Loans are stated at the amount of unpaid principal, reduced by unearned income and the allowance for loan losses. Interest on loans is recognized on a daily basis over the terms of each loan based on the unpaid principal balance. Loan origination fees are recognized as income when received. Revenue from these fees is not material to the financial statements. | |
The Company continuously monitors its relationships with its loan customers in concentrated industries such as gaming and hotel/motel, as well as the exposure for out of area, land development, construction and commercial real estate loans, and their direct and indirect impact on its operations. Loan delinquencies and deposit overdrafts are monitored on a weekly basis in order to identify developing problems as early as possible. On a monthly basis, a watch list of credits based on our loan grading system is prepared. Grades of A – F are applied to individual loans based on factors including repayment ability, financial condition of the borrower and payment performance. Loans with a grade of D – F, as well as some loans with a grade of C, are placed on the watch list of credits. The watch list is the primary tool for monitoring the credit quality of the loan portfolio. Once loans are determined to be past due, the loan officer and the special assets department work vigorously to return the loans to a current status. | |
The Company places loans on a nonaccrual status when, in the opinion of Management, they possess sufficient uncertainty as to timely collection of interest or principal so as to preclude the recognition in reported earnings of some or all of the contractual interest. Accrued interest on loans classified as nonaccrual is reversed at the time the loans are placed on nonaccrual. Interest received on nonaccrual loans is applied against principal. Loans are restored to accrual status when the obligation is brought current or has performed in accordance with the contractual terms for a reasonable period of time and the ultimate collectibility of the total contractual principal and interest is no longer in doubt. The placement of loans on and removal of loans from nonaccrual status must be approved by Management. | |
Loans which become 90 days delinquent are reviewed relative to collectibility. Unless such loans are in the process of terms revision to bring them to a current status or foreclosure or in the process of collection, these loans are placed on nonaccrual and, if deemed uncollectible, are charged off against the allowance for loan losses. That portion of a loan which is deemed uncollectible will be charged off against the allowance as a partial charge off. All charge offs must be approved by Management and are reported to the Board of Directors. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses | |
The allowance for loan losses (“ALL”) is a valuation account available to absorb losses on loans. | |
The ALL is established through provisions for loan losses charged against earnings. Loans deemed to be uncollectible are charged against the ALL, and subsequent recoveries, if any, are credited to the allowance. | |
The ALL is based on Management’s evaluation of the loan portfolio under current economic conditions and is an amount that Management believes will be adequate to absorb probable losses on loans existing at the reporting date. On a quarterly basis, the Company’s problem asset committee meets to review the watch list of credits, which is formulated from the loan grading system. Members of this committee include loan officers, collection officers, the special assets director, the chief lending officer, the chief credit officer, the chief financial officer and the chief executive officer. The evaluation includes Management’s assessment of several factors: review and evaluation of specific loans, changes in the nature and volume of the loan portfolio, current and anticipated economic conditions and the related impact on specific borrowers and industry groups, a study of loss experience, a review of classified, nonperforming and delinquent loans, the estimated value of any underlying collateral, an estimate of the possibility of loss based on the risk characteristics of the portfolio, adverse situations that may affect the borrower’s ability to repay and the results of regulatory examinations. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change. | |
The ALL consists of specific and general components. The specific component relates to loans that are classified as impaired. The general component of the allowance relates to loans that are not impaired. Changes to the components of the ALL are recorded as a component of the provision for the allowance for loan losses. Management must approve changes to the ALL and must report its actions to the Board of Directors. The Company believes that its allowance for loan losses is appropriate at December 31, 2013. | |
The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company’s impaired loans include troubled debt restructurings and performing and non-performing major loans for which full payment of principal or interest is not expected. A loan may be impaired but not on nonaccrual status when available information suggests that it is probable that the Bank may not receive all contractual principal and interest, however, the loan is still current and payments are received in accordance with the terms of the loan. Payments received for impaired loans not on nonaccrual status are applied to principal and interest. | |
All impaired loans are reviewed, at a minimum, on a quarterly basis. The Company calculates the specific allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of its collateral. Most of the Company’s impaired loans are collateral-dependent. | |
The fair value of the collateral for collateral-dependent loans is based on appraisals performed by third-party valuation specialists, comparable sales and other estimates of fair value obtained principally from independent sources such as the Multiple Listing Service or county tax assessment valuations, adjusted for estimated selling costs. The Company has a Real Estate Appraisal Policy (the “Policy”) which is in compliance with the guidelines set forth in the “Interagency Appraisal and Evaluation Guidelines” which implement Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) and the revised “Interagency Appraisal and Evaluation Guidelines” issued in 2010. The Policy further requires that appraisals be in writing and conform to the Uniform Standards of Professional Appraisal Practice (“USPAP”). An appraisal prepared by a state-licensed or state-certified appraiser is required on all new loans secured by real estate in excess of $250,000. Loans secured by real estate in an amount of $250,000 or less, or that qualify for an exemption under FIRREA, must have a summary appraisal report or in-house evaluation, depending on the facts and circumstances. Factors including the assumptions and techniques utilized by the appraiser, which could result in a downward adjustment to the collateral value estimates indicated in the appraisal, are considered by the Company. | |
When Management determines that a loan is impaired and the loan is collateral-dependent, an evaluation of the fair value of the collateral is performed. The Company maintains established criteria for assessing whether an existing appraisal continues to reflect the fair value of the property for collateral-dependent loans. Appraisals are generally considered to be valid for a period of at least twelve months. However, appraisals that are less than 12 months old may need to be adjusted. Management considers such factors as the property type, property condition, current use of the property, current market conditions and the passage of time when determining the relevance and validity of the most recent appraisal of the property. If Management determines that the most recent appraisal is no longer valid, a new appraisal is ordered from an independent and qualified appraiser. | |
During the interim period between ordering and receipt of the new appraisal, Management considers if the existing appraisal should be discounted to determine the estimated fair value of collateral. Discounts are applied to the existing appraisal and take into consideration the property type, condition of the property, external market data, internal data, reviews of recently obtained appraisals and evaluations of similar properties, comparable sales of similar properties and tax assessment valuations. When the new appraisal is received and approved by Management, the valuation stated in the appraisal is used as the fair value of the collateral in determining impairment, if any. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance is required as a specific component of the allowance for loan losses. Any specific reserves recorded in the interim are adjusted accordingly. | |
The general component of the ALL is the loss estimated by applying historical loss percentages to non-classified loans which have been divided into segments. These segments include gaming; residential and land development, real estate, construction; real estate, mortgage; commercial and industrial and all other. The loss percentages are based on each segment’s historical five year average loss experience which may be adjusted by qualitative factors such as changes in the general economy, or economy or real estate market in a particular geographic area or industry. | |
Bank Premises and Equipment | ' |
Bank Premises and Equipment | |
Bank premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed by the straight-line method based on the estimated useful lives of the related assets. | |
Other Real Estate | ' |
Other Real Estate | |
Other real estate (“ORE”) includes real estate acquired through foreclosure. Each other real estate property is carried at fair value, less estimated costs to sell. Fair value is principally based on appraisals performed by third-party valuation specialists. Any excess of the carrying value of the related loan over the fair value of the real estate at the date of foreclosure is charged against the ALL. Any expense incurred in connection with holding such real estate or resulting from any writedowns in value subsequent to foreclosure is included in non-interest expense. When the other real estate property is sold, a gain or loss is recognized on the sale for the difference, if any, between the sales proceeds and the carrying amount of the property. If the fair value of the ORE, less estimated costs to sell at the time of foreclosure, decreases during the holding period, the ORE is written down with a charge to non-interest expense. Generally, ORE properties are actively marketed for sale and Management is continuously monitoring these properties in order to minimize any losses. | |
Trust Department Income and Fees | ' |
Trust Department Income and Fees | |
Corporate trust fees are accounted for on an accrual basis and personal trust fees are recorded when received. | |
Income Taxes | ' |
Income Taxes | |
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. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities 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 tax expense in the period that includes the enactment date. | |
In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some portion or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income and tax planning strategies. The Company currently evaluates income tax positions judged to be uncertain. A loss contingency reserve is accrued if it is probable that the tax position will be challenged, it is probable that the future resolution of the challenge will confirm that a loss has been incurred and the amount of such loss can be reasonably estimated. | |
Post-Retirement Benefit Plan | ' |
Post-Retirement Benefit Plan | |
The Company accounts for its post-retirement benefit plan under Accounting Standards Codification (“Codification” or “ASC”) Topic 715, Retirement Benefits (“ASC 715”). The under or over funded status of the Company’s post-retirement benefit plan is recognized as a liability or asset in the statement of condition. Changes in the plan’s funded status are reflected in other comprehensive income. Net actuarial gains and losses and adjustments to prior service costs that are not recorded as components of the net periodic benefit cost are charged to other comprehensive income. | |
Earnings Per Share | ' |
Earnings Per Share | |
Basic and diluted earnings per share are computed on the basis of the weighted average number of common shares outstanding, 5,128,889 in 2013 and 5,136,918, in 2012 and 2011. | |
Accumulated Other Comprehensive Income | ' |
Accumulated Other Comprehensive Income | |
At December 31, 2013, 2012 and 2011, accumulated other comprehensive income (loss) consisted of net unrealized gains (losses) on available for sale securities and over (under) funded liabilities related to the Company’s post-retirement benefit plan. | |
Statements of Cash Flows | ' |
Statements of Cash Flows | |
The Company has defined cash and cash equivalents to include cash and due from banks and federal funds sold. The Company paid $1,470,945, $2,082,914 and $3,222,385 in 2013, 2012 and 2011, respectively, for interest on deposits and borrowings. Income tax payments totaled $810,000, $835,000 and $755,000 in 2013, 2012 and 2011, respectively. Loans transferred to other real estate amounted to $4,536,710, $2,575,520 and $3,221,510 in 2013, 2012 and 2011, respectively. Dividends payable of $513,692 and $462,323 as of December 31, 2011 and 2010 were paid during the years ended December 31, 2012 and 2011, respectively. | |
Fair Value Measurement | ' |
Fair Value Measurement | |
The Company reports certain assets and liabilities at their estimated fair value. These assets and liabilities are classified and disclosed in one of three categories based on the inputs used to develop the measurements. The categories establish a hierarchy for ranking the quality and reliability of the information used to determine fair value. |
SECURITIES_Tables
SECURITIES (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities | ' | ||||||||||||||||||||||||
The amortized cost and fair value of securities at December 31, 2013, 2012 and 2011, respectively, are as follows (in thousands): | |||||||||||||||||||||||||
December 31, 2013 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Losses | |||||||||||||||||||||||||
Gains | |||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 44,636 | $ | 54 | $ | (1,042 | ) | $ | 43,648 | ||||||||||||||||
U.S. Government agencies | 155,772 | 734 | (10,701 | ) | 145,805 | ||||||||||||||||||||
Mortgage-backed securities | 51,454 | 141 | (1,269 | ) | 50,326 | ||||||||||||||||||||
States and political subdivisions | 33,764 | 1,248 | (1 | ) | 35,011 | ||||||||||||||||||||
Total debt securities | 285,626 | 2,177 | (13,013 | ) | 274,790 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 286,276 | $ | 2,177 | $ | (13,013 | ) | $ | 275,440 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 11,142 | $ | 13 | $ | (469 | ) | $ | 10,686 | ||||||||||||||||
Total held to maturity securities | $ | 11,142 | $ | 13 | $ | (469 | ) | $ | 10,686 | ||||||||||||||||
December 31, 2012 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 53,661 | $ | 490 | $ | (55 | ) | $ | 54,096 | ||||||||||||||||
U.S. Government agencies | 147,652 | 1,810 | (364 | ) | 149,098 | ||||||||||||||||||||
Mortgage-backed securities | 16,903 | 538 | 17,441 | ||||||||||||||||||||||
States and political subdivisions | 35,433 | 2,158 | 37,591 | ||||||||||||||||||||||
Total debt securities | 253,649 | 4,996 | (419 | ) | 258,226 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 254,299 | $ | 4,996 | $ | (419 | ) | $ | 258,876 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 7,125 | $ | 112 | $ | (12 | ) | $ | 7,225 | ||||||||||||||||
Total held to maturity securities | $ | 7,125 | $ | 112 | $ | (12 | ) | $ | 7,225 | ||||||||||||||||
December 31, 2011 | Amortized Cost | Gross | Gross | Fair Value | |||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 53,995 | $ | 33 | $ | (18 | ) | $ | 54,010 | ||||||||||||||||
U.S. Government agencies | 176,986 | 2,220 | (26 | ) | 179,180 | ||||||||||||||||||||
Mortgage-backed securities | 4,727 | 274 | 5,001 | ||||||||||||||||||||||
States and political subdivisions | 37,914 | 2,163 | 40,077 | ||||||||||||||||||||||
Total debt securities | 273,622 | 4,690 | (44 | ) | 278,268 | ||||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||||||
Total available for sale securities | $ | 274,272 | $ | 4,690 | $ | (44 | ) | $ | 278,918 | ||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
States and political subdivisions | $ | 1,429 | $ | 63 | $ | $ | 1,492 | ||||||||||||||||||
Total held to maturity securities | $ | 1,429 | $ | 63 | $ | $ | 1,492 | ||||||||||||||||||
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and fair value of debt securities at December 31, 2013, (in thousands) by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||||
Due in one year or less | $ | 16,442 | $ | 16,527 | |||||||||||||||||||||
Due after one year through five years | 49,769 | 50,052 | |||||||||||||||||||||||
Due after five years through ten years | 80,136 | 78,561 | |||||||||||||||||||||||
Due after ten years | 87,825 | 79,324 | |||||||||||||||||||||||
Mortgage-backed securities | 51,454 | 50,326 | |||||||||||||||||||||||
Totals | $ | 285,626 | $ | 274,790 | |||||||||||||||||||||
Held to maturity securities: | |||||||||||||||||||||||||
Due in one year or less | $ | 664 | $ | 671 | |||||||||||||||||||||
Due after one year through five years | 1,323 | 1,320 | |||||||||||||||||||||||
Due after five years through ten years | 6,286 | 6,125 | |||||||||||||||||||||||
Due after ten years | 2,869 | 2,570 | |||||||||||||||||||||||
Totals | $ | 11,142 | $ | 10,686 | |||||||||||||||||||||
Available for Sale and Held to Maturity Securities with Gross Unrealized Losses | ' | ||||||||||||||||||||||||
Available for sale and held to maturity securities with gross unrealized losses at December 31, 2013, 2012 and 2011, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows (in thousands): | |||||||||||||||||||||||||
Less Than Twelve Months | Over Twelve Months | Total | |||||||||||||||||||||||
December 31, 2013: | Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | |||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
U.S. Treasuries | $ | 29,708 | $ | 1,042 | $ | $ | $ | 29,708 | $ | 1,042 | |||||||||||||||
U.S. Government agencies | 113,446 | 10,322 | 4,621 | 379 | 118,067 | 10,701 | |||||||||||||||||||
Mortgage-backed securities | 44,269 | 1,269 | 44,269 | 1,269 | |||||||||||||||||||||
States and political subdivisions | 7,690 | 470 | 7,690 | 470 | |||||||||||||||||||||
TOTAL | $ | 195,113 | $ | 13,103 | $ | 4,621 | $ | 379 | $ | 199,734 | $ | 13,482 | |||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 9,887 | $ | 55 | $ | $ | $ | 9,887 | $ | 55 | |||||||||||||||
U.S. Government agencies | 30,335 | 364 | 30,335 | 364 | |||||||||||||||||||||
States and political subdivisions | 1,451 | 12 | 1,451 | 12 | |||||||||||||||||||||
TOTAL | $ | 41,673 | $ | 431 | $ | $ | $ | 41,673 | $ | 431 | |||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
U.S. Treasuries | $ | 16,976 | $ | 18 | $ | $ | $ | 16,976 | $ | 18 | |||||||||||||||
U.S. Government agencies | 15,075 | 26 | 15,075 | 26 | |||||||||||||||||||||
TOTAL | $ | 32,051 | $ | 44 | $ | $ | $ | 32,051 | $ | 44 | |||||||||||||||
LOANS_Tables
LOANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||
Composition of Loan Portfolio | ' | ||||||||||||||||||||||||||||||
The composition of the loan portfolio at December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 29,570 | $ | 60,187 | $ | 57,219 | |||||||||||||||||||||||||
Residential and land development | 19,403 | 27,338 | 29,026 | ||||||||||||||||||||||||||||
Real estate, construction | 44,987 | 52,586 | 61,042 | ||||||||||||||||||||||||||||
Real estate, mortgage | 237,158 | 246,420 | 238,411 | ||||||||||||||||||||||||||||
Commercial and industrial | 35,007 | 35,004 | 33,950 | ||||||||||||||||||||||||||||
Other | 9,224 | 9,548 | 12,759 | ||||||||||||||||||||||||||||
Total | $ | 375,349 | $ | 431,083 | $ | 432,407 | |||||||||||||||||||||||||
Summary of Loans to Related Parties | ' | ||||||||||||||||||||||||||||||
In the ordinary course of business, the Company’s bank subsidiary extends loans to certain officers and directors and their personal business interests at, in the opinion of Management, the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans of similar credit risk with persons not related to the Company or its subsidiaries. These loans do not involve more than normal risk of collectibility and do not include other unfavorable features. An analysis of the activity with respect to such loans to related parties is as follows (in thousands): | |||||||||||||||||||||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Balance, January 1 | $ | 6,310 | $ | 5,681 | $ | 5,552 | |||||||||||||||||||||||||
January 1 balance, loans of officers and directors appointed during the year | 123 | ||||||||||||||||||||||||||||||
New loans and advances | 1,647 | 3,755 | 2,426 | ||||||||||||||||||||||||||||
Repayments | (1,196 | ) | (3,126 | ) | (2,420 | ) | |||||||||||||||||||||||||
Balance, December 31 | $ | 6,761 | $ | 6,310 | $ | 5,681 | |||||||||||||||||||||||||
Evaluation of Quality of Loan Portfolio | ' | ||||||||||||||||||||||||||||||
As part of its evaluation of the quality of the loan portfolio, Management monitors the Company’s credit concentrations on a monthly basis. Total outstanding concentrations were as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 29,570 | $ | 60,187 | $ | 57,219 | |||||||||||||||||||||||||
Hotel/motel | 49,842 | 52,776 | 46,956 | ||||||||||||||||||||||||||||
Out of area | 24,945 | 25,413 | 26,171 | ||||||||||||||||||||||||||||
Age Analysis of Loan Portfolio, Segregated by Class of Loans | ' | ||||||||||||||||||||||||||||||
The age analysis of the loan portfolio, segregated by class of loans, as of December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
Loans Past | |||||||||||||||||||||||||||||||
Due Greater | |||||||||||||||||||||||||||||||
Number of Days Past Due | Than 90 | ||||||||||||||||||||||||||||||
Greater | Total | Total | Days and | ||||||||||||||||||||||||||||
30 - 59 | 60 - 89 | Than 90 | Past Due | Current | Loans | Still Accruing | |||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | $ | $ | $ | 29,570 | $ | 29,570 | $ | ||||||||||||||||||||||
Residential and land development | 51 | 13,572 | 13,623 | 5,780 | 19,403 | ||||||||||||||||||||||||||
Real estate, construction | 3,846 | 9,452 | 13,298 | 31,689 | 44,987 | 146 | |||||||||||||||||||||||||
Real estate, mortgage | 6,910 | 2,684 | 5,134 | 14,728 | 222,430 | 237,158 | 505 | ||||||||||||||||||||||||
Commercial and industrial | 1,192 | 1,192 | 33,815 | 35,007 | |||||||||||||||||||||||||||
Other | 227 | 5 | 232 | 8,992 | 9,224 | ||||||||||||||||||||||||||
Total | $ | 12,226 | $ | 2,689 | $ | 28,158 | $ | 43,073 | $ | 332,276 | $ | 375,349 | $ | 651 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | 1,721 | $ | $ | 1,721 | $ | 58,466 | $ | 60,187 | $ | ||||||||||||||||||||
Residential and land development | 5,765 | 5,765 | 21,573 | 27,338 | |||||||||||||||||||||||||||
Real estate, construction | 3,989 | 878 | 6,151 | 11,018 | 41,568 | 52,586 | 572 | ||||||||||||||||||||||||
Real estate, mortgage | 12,012 | 2,702 | 7,605 | 22,319 | 224,101 | 246,420 | 872 | ||||||||||||||||||||||||
Commercial and industrial | 1,804 | 79 | 107 | 1,990 | 33,014 | 35,004 | |||||||||||||||||||||||||
Other | 127 | 26 | 1 | 154 | 9,394 | 9,548 | 1 | ||||||||||||||||||||||||
Total | $ | 17,932 | $ | 5,406 | $ | 19,629 | $ | 42,967 | $ | 388,116 | $ | 431,083 | $ | 1,445 | |||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Gaming | $ | $ | $ | $ | $ | 57,219 | $ | 57,219 | $ | ||||||||||||||||||||||
Residential and land development | 24,161 | 24,161 | 4,865 | 29,026 | |||||||||||||||||||||||||||
Real estate, construction | 2,084 | 1,395 | 6,364 | 9,843 | 51,199 | 61,042 | 376 | ||||||||||||||||||||||||
Real estate, mortgage | 13,569 | 2,341 | 12,963 | 28,873 | 209,538 | 238,411 | 1,314 | ||||||||||||||||||||||||
Commercial and industrial | 1,536 | 166 | 388 | 2,090 | 31,860 | 33,950 | 142 | ||||||||||||||||||||||||
Other | 184 | 23 | 131 | 338 | 12,421 | 12,759 | |||||||||||||||||||||||||
Total | $ | 17,373 | $ | 3,925 | $ | 44,007 | $ | 65,305 | $ | 367,102 | $ | 432,407 | $ | 1,832 | |||||||||||||||||
Analysis of Loan Portfolio by Loan Grade, Segregated by Class of Loans | ' | ||||||||||||||||||||||||||||||
An analysis of the loan portfolio by loan grade, segregated by class of loans, as of December 31, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||||||||||||
Loans With A Grade Of: | |||||||||||||||||||||||||||||||
A or B | C | D | E | F | Total | ||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Gaming | $ | 23,975 | $ | 2,500 | $ | $ | 3,095 | $ | $ | 29,570 | |||||||||||||||||||||
Residential and land development | 4,236 | 1,544 | 51 | 13,572 | 19,403 | ||||||||||||||||||||||||||
Real estate, construction | 38,808 | 781 | 2,220 | 3,178 | 44,987 | ||||||||||||||||||||||||||
Real estate, mortgage | 204,569 | 4,495 | 17,852 | 10,242 | 237,158 | ||||||||||||||||||||||||||
Commercial and industrial | 31,902 | 682 | 2,402 | 21 | 35,007 | ||||||||||||||||||||||||||
Other | 9,131 | 24 | 50 | 19 | 9,224 | ||||||||||||||||||||||||||
Total | $ | 312,621 | $ | 10,026 | $ | 22,575 | $ | 30,127 | $ | $ | 375,349 | ||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Gaming | $ | 27,530 | $ | 12,300 | $ | 4,108 | $ | 16,249 | $ | $ | 60,187 | ||||||||||||||||||||
Residential and land development | 4,630 | 1,544 | 81 | 21,083 | 27,338 | ||||||||||||||||||||||||||
Real estate, construction | 43,318 | 1,001 | 2,701 | 5,566 | 52,586 | ||||||||||||||||||||||||||
Real estate, mortgage | 209,479 | 3,093 | 21,167 | 12,681 | 246,420 | ||||||||||||||||||||||||||
Commercial and industrial | 32,036 | 442 | 2,312 | 214 | 35,004 | ||||||||||||||||||||||||||
Other | 9,449 | 27 | 72 | 9,548 | |||||||||||||||||||||||||||
Total | $ | 326,442 | $ | 18,407 | $ | 30,441 | $ | 55,793 | $ | $ | 431,083 | ||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Gaming | $ | 41,817 | $ | $ | $ | 15,402 | $ | $ | 57,219 | ||||||||||||||||||||||
Residential and land development | 4,865 | 51 | 24,110 | 29,026 | |||||||||||||||||||||||||||
Real estate, construction | 50,798 | 357 | 3,695 | 6,192 | 61,042 | ||||||||||||||||||||||||||
Real estate, mortgage | 197,509 | 2,862 | 25,870 | 12,170 | 238,411 | ||||||||||||||||||||||||||
Commercial and industrial | 23,972 | 6,551 | 3,077 | 350 | 33,950 | ||||||||||||||||||||||||||
Other | 12,268 | 40 | 384 | 67 | 12,759 | ||||||||||||||||||||||||||
Total | $ | 331,229 | $ | 9,810 | $ | 33,077 | $ | 58,291 | $ | $ | 432,407 | ||||||||||||||||||||
Total Loans on Nonaccrual | ' | ||||||||||||||||||||||||||||||
Total loans on nonaccrual as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Gaming | $ | 1,223 | $ | 16,249 | $ | 15,402 | |||||||||||||||||||||||||
Residential and land development | 13,572 | 21,083 | 24,110 | ||||||||||||||||||||||||||||
Real estate, construction | 2,588 | 5,171 | 6,042 | ||||||||||||||||||||||||||||
Real estate, mortgage | 8,788 | 11,174 | 11,662 | ||||||||||||||||||||||||||||
Commercial and industrial | 214 | 246 | |||||||||||||||||||||||||||||
Other | 131 | ||||||||||||||||||||||||||||||
Total | $ | 26,171 | $ | 53,891 | $ | 57,593 | |||||||||||||||||||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||
The Company has modified certain loans by granting interest rate concessions to these customers. These loans are in compliance with their modified terms, are currently accruing and the Company has classified them as troubled debt restructurings. Troubled debt restructurings as of December 31, 2013, 2012 and 2011, were as follows (in thousands except for number of contracts): | |||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | Related | ||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Allowance | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Real estate, construction | 2 | $ | 891 | $ | 891 | $ | 270 | ||||||||||||||||||||||||
Real estate, mortgage | 6 | 10,012 | 10,012 | 994 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 678 | 678 | ||||||||||||||||||||||||||||
Total | 9 | $ | 11,581 | $ | 11,581 | $ | 1,264 | ||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Real estate, construction | 3 | $ | 1,095 | $ | 1,095 | $ | 340 | ||||||||||||||||||||||||
Real estate, mortgage | 3 | 9,054 | 9,054 | 957 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 702 | 702 | ||||||||||||||||||||||||||||
Total | 7 | $ | 10,851 | $ | 10,851 | $ | 1,297 | ||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Real estate, construction | 3 | $ | 1,075 | $ | 1,075 | $ | 112 | ||||||||||||||||||||||||
Real estate, mortgage | 5 | 9,916 | 9,916 | 809 | |||||||||||||||||||||||||||
Commercial and industrial | 1 | 706 | 706 | ||||||||||||||||||||||||||||
Total | 9 | $ | 11,697 | $ | 11,697 | $ | 921 | ||||||||||||||||||||||||
Impaired Loans, Segregated by Class of Loans | ' | ||||||||||||||||||||||||||||||
Impaired loans, which include loans classified as nonaccrual and troubled debt restructurings, segregated by class of loans, as of December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | Income | |||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Residential and land development | $ | 4,425 | $ | 4,425 | $ | $ | 4,465 | $ | |||||||||||||||||||||||
Real estate, construction | 2,294 | 2,294 | 2,054 | 26 | |||||||||||||||||||||||||||
Real estate, mortgage | 9,722 | 9,123 | 9,097 | 26 | |||||||||||||||||||||||||||
Commercial and industrial | 678 | 678 | 689 | 24 | |||||||||||||||||||||||||||
Total | 17,119 | 16,520 | 16,305 | 76 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | 1,698 | 1,223 | 626 | 1,316 | |||||||||||||||||||||||||||
Residential and land development | 17,576 | 9,147 | 471 | 15,909 | |||||||||||||||||||||||||||
Real estate, construction | 1,185 | 1,185 | 337 | 1,239 | 23 | ||||||||||||||||||||||||||
Real estate, mortgage | 9,677 | 9,677 | 1,110 | 8,801 | 306 | ||||||||||||||||||||||||||
Total | 30,136 | 21,232 | 2,544 | 27,265 | 329 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 1,698 | 1,223 | 626 | 1,316 | |||||||||||||||||||||||||||
Residential and land development | 22,001 | 13,572 | 471 | 20,374 | |||||||||||||||||||||||||||
Real estate, construction | 3,479 | 3,479 | 337 | 3,293 | 49 | ||||||||||||||||||||||||||
Real estate, mortgage | 19,399 | 18,800 | 1,110 | 17,898 | 332 | ||||||||||||||||||||||||||
Commercial and industrial | 678 | 678 | 689 | 24 | |||||||||||||||||||||||||||
Total | $ | 47,255 | $ | 37,752 | $ | 2,544 | $ | 43,570 | $ | 405 | |||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | Income | |||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | $ | 14,528 | $ | 14,528 | $ | $ | 14,869 | $ | |||||||||||||||||||||||
Residential and land development | 21,837 | 20,733 | 21,288 | ||||||||||||||||||||||||||||
Real estate, construction | 4,635 | 4,580 | 3,833 | ||||||||||||||||||||||||||||
Real estate, mortgage | 9,971 | 9,935 | 9,821 | ||||||||||||||||||||||||||||
Commercial and industrial | 892 | 892 | 791 | 23 | |||||||||||||||||||||||||||
Total | 51,863 | 50,668 | 50,602 | 23 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | 1,721 | 1,721 | 1,100 | ||||||||||||||||||||||||||||
Residential and land development | 350 | 350 | 70 | 350 | |||||||||||||||||||||||||||
Real estate, construction | 1,694 | 1,686 | 663 | 1,314 | 8 | ||||||||||||||||||||||||||
Real estate, mortgage | 10,893 | 10,293 | 1,229 | 10,199 | 319 | ||||||||||||||||||||||||||
Commercial and industrial | 24 | 24 | 12 | ||||||||||||||||||||||||||||
Total | 14,682 | 14,074 | 3,074 | 11,863 | 327 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 16,249 | 16,249 | 1,100 | 14,869 | |||||||||||||||||||||||||||
Residential and land development | 22,187 | 21,083 | 70 | 21,638 | |||||||||||||||||||||||||||
Real estate, construction | 6,329 | 6,266 | 663 | 5,147 | 8 | ||||||||||||||||||||||||||
Real estate, mortgage | 20,864 | 20,228 | 1,229 | 20,020 | 319 | ||||||||||||||||||||||||||
Commercial and industrial | 916 | 916 | 12 | 791 | 23 | ||||||||||||||||||||||||||
Total | $ | 66,545 | $ | 64,742 | $ | 3,074 | $ | 62,465 | $ | 350 | |||||||||||||||||||||
Unpaid | Recorded | Related | Average | Interest | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | Income | |||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||
Gaming | $ | 15,402 | $ | 15,402 | $ | $ | 12,488 | $ | |||||||||||||||||||||||
Residential and land development | 24,941 | 21,746 | 7,382 | ||||||||||||||||||||||||||||
Real estate, construction | 4,743 | 4,711 | 297 | ||||||||||||||||||||||||||||
Real estate, mortgage | 9,965 | 9,957 | 1,111 | ||||||||||||||||||||||||||||
Commercial and industrial | 864 | 864 | 413 | 13 | |||||||||||||||||||||||||||
Other | 5 | 5 | |||||||||||||||||||||||||||||
Total | 55,920 | 52,685 | 21,691 | 13 | |||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||
Residential and land development | 2,364 | 2,364 | 900 | ||||||||||||||||||||||||||||
Real estate, construction | 2,406 | 2,406 | 720 | 185 | 11 | ||||||||||||||||||||||||||
Real estate, mortgage | 12,552 | 11,621 | 1,314 | 5,971 | 187 | ||||||||||||||||||||||||||
Commercial and industrial | 88 | 88 | 77 | ||||||||||||||||||||||||||||
Other | 126 | 126 | 17 | 31 | |||||||||||||||||||||||||||
Total | 17,536 | 16,605 | 3,028 | 6,187 | 198 | ||||||||||||||||||||||||||
Total by class of loans: | |||||||||||||||||||||||||||||||
Gaming | 15,402 | 15,402 | 12,488 | ||||||||||||||||||||||||||||
Residential and land development | 27,305 | 24,110 | 900 | 7,382 | |||||||||||||||||||||||||||
Real estate, construction | 7,149 | 7,117 | 720 | 482 | 11 | ||||||||||||||||||||||||||
Real estate, mortgage | 22,517 | 21,578 | 1,314 | 7,082 | 187 | ||||||||||||||||||||||||||
Commercial and industrial | 952 | 952 | 77 | 413 | 13 | ||||||||||||||||||||||||||
Other | 131 | 131 | 17 | 31 | |||||||||||||||||||||||||||
Total | $ | 73,456 | $ | 69,290 | $ | 3,028 | $ | 27,878 | $ | 211 | |||||||||||||||||||||
Transactions in Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||
Transactions in the allowance for loan losses for the years ended December 31, 2013, 2012 and 2011, and the balances of loans, individually and collectively evaluated for impairment, as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||||||||||||
Gaming | Residential and | Real Estate, | Real Estate, | Commercial | Other | Total | |||||||||||||||||||||||||
Construction | Mortgage | and Industrial | |||||||||||||||||||||||||||||
Land | |||||||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,541 | $ | 200 | $ | 967 | $ | 5,273 | $ | 593 | $ | 283 | $ | 8,857 | |||||||||||||||||
Charge-offs | (474 | ) | (7,325 | ) | (1,013 | ) | (1,048 | ) | (24 | ) | (238 | ) | (10,122 | ) | |||||||||||||||||
Recoveries | 110 | 67 | 97 | 150 | 26 | 88 | 538 | ||||||||||||||||||||||||
Provision | (200 | ) | 7,834 | 644 | 1,178 | 37 | 168 | 9,661 | |||||||||||||||||||||||
Ending Balance | $ | 977 | $ | 776 | $ | 695 | $ | 5,553 | $ | 632 | $ | 301 | $ | 8,934 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 626 | $ | 471 | $ | 615 | $ | 1,698 | $ | 342 | $ | 33 | $ | 3,785 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 351 | $ | 305 | $ | 80 | $ | 3,855 | $ | 290 | $ | 268 | $ | 5,149 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,095 | $ | 13,624 | $ | 5,399 | $ | 28,094 | $ | 2,423 | $ | 69 | $ | 52,704 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 26,475 | $ | 5,779 | $ | 39,588 | $ | 209,064 | $ | 32,584 | $ | 9,155 | $ | 322,645 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 457 | $ | 1,081 | $ | 937 | $ | 4,800 | $ | 557 | $ | 304 | $ | 8,136 | |||||||||||||||||
Charge-offs | (275 | ) | (1,103 | ) | (474 | ) | (1,348 | ) | (203 | ) | (273 | ) | (3,676 | ) | |||||||||||||||||
Recoveries | 7 | 41 | 85 | 133 | |||||||||||||||||||||||||||
Provision | 1,359 | 222 | 504 | 1,814 | 198 | 167 | 4,264 | ||||||||||||||||||||||||
Ending Balance | $ | 1,541 | $ | 200 | $ | 967 | $ | 5,273 | $ | 593 | $ | 283 | $ | 8,857 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,100 | $ | $ | 922 | $ | 1,758 | $ | 300 | $ | 35 | $ | 4,115 | ||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 441 | $ | 200 | $ | 45 | $ | 3,515 | $ | 293 | $ | 248 | $ | 4,742 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 20,357 | $ | 21,165 | $ | 8,267 | $ | 33,848 | $ | 2,525 | $ | 72 | $ | 86,234 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 39,830 | $ | 6,173 | $ | 44,319 | $ | 212,572 | $ | 32,479 | $ | 9,476 | $ | 344,849 | |||||||||||||||||
Gaming | Residential and | Real Estate, | Real Estate, | Commercial | Other | Total | |||||||||||||||||||||||||
Land | Construction | Mortgage | and Industrial | ||||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Beginning Balance | $ | 465 | $ | 1,070 | $ | 1,020 | $ | 3,413 | $ | 480 | $ | 202 | $ | 6,650 | |||||||||||||||||
Charge-offs | (276 | ) | (1,126 | ) | (95 | ) | (175 | ) | (1,672 | ) | |||||||||||||||||||||
Recoveries | 35 | 32 | 48 | 24 | 84 | 223 | |||||||||||||||||||||||||
Provision | (43 | ) | 11 | 161 | 2,465 | 148 | 193 | 2,935 | |||||||||||||||||||||||
Ending Balance | $ | 457 | $ | 1,081 | $ | 937 | $ | 4,800 | $ | 557 | $ | 304 | $ | 8,136 | |||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | 900 | $ | 853 | $ | 1,953 | $ | 349 | $ | 57 | $ | 4,112 | ||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 457 | $ | 181 | $ | 84 | $ | 2,847 | $ | 208 | $ | 247 | $ | 4,024 | |||||||||||||||||
Total Loans: | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 15,677 | $ | 24,110 | $ | 9,660 | $ | 37,988 | $ | 9,493 | $ | 3,013 | $ | 99,941 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 41,542 | $ | 4,916 | $ | 51,382 | $ | 200,423 | $ | 24,457 | $ | 9,746 | $ | 332,466 | |||||||||||||||||
BANK_PREMISES_AND_EQUIPMENT_Ta
BANK PREMISES AND EQUIPMENT (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||
Summary of Bank Premises and Equipment | ' | ||||||||||||||
Bank premises and equipment are shown as follows (in thousands): | |||||||||||||||
December 31, | Estimated Useful Lives | 2013 | 2012 | 2011 | |||||||||||
Land | $ | 5,982 | $ | 5,985 | $ | 5,985 | |||||||||
Building | 5 - 40 years | 30,540 | 30,504 | 30,494 | |||||||||||
Furniture, fixtures and equipment | 3 - 10 years | 15,272 | 14,487 | 14,377 | |||||||||||
Totals, at cost | 51,794 | 50,976 | 50,856 | ||||||||||||
Less: Accumulated depreciation | 26,486 | 24,754 | 22,821 | ||||||||||||
Totals | $ | 25,308 | $ | 26,222 | $ | 28,035 | |||||||||
OTHER_REAL_ESTATE_Tables
OTHER REAL ESTATE (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Real Estate [Abstract] | ' | ||||||||||||||||||
Company's Other Real Estate | ' | ||||||||||||||||||
The Company’s other real estate consisted of the following as of December 31, 2013, 2012 and 2011, respectively (in thousands): | |||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||
Number of | Balance | Number of | Balance | Number of | Balance | ||||||||||||||
Properties | Properties | Properties | |||||||||||||||||
Construction, land development and other land | 18 | $ | 4,887 | 11 | $ | 2,834 | 8 | $ | 1,544 | ||||||||||
1 - 4 family residential properties | 6 | 180 | 6 | 576 | 8 | 821 | |||||||||||||
Nonfarm nonresidential | 17 | 4,563 | 14 | 3,573 | 16 | 3,788 | |||||||||||||
Other | 1 | 25 | |||||||||||||||||
Total | 41 | $ | 9,630 | 32 | $ | 7,008 | 32 | $ | 6,153 | ||||||||||
DEPOSITS_Tables
DEPOSITS (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Schedule of Time Deposit Maturities | ' | ||||
At December 31, 2013, the scheduled maturities of time deposits are as follows (in thousands): | |||||
2014 | $ | 78,579 | |||
2015 | 10,183 | ||||
2016 | 2,428 | ||||
2017 | 7,948 | ||||
2018 | 5,298 | ||||
Total | $ | 104,436 | |||
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Reconciliation of Deferred Taxes Included in Other Assets or Other Liabilities | ' | ||||||||||||||||||||||||
Deferred taxes (or deferred charges) as of December 31, 2013, 2012 and 2011, included in other assets or other liabilities, were as follows (in thousands): | |||||||||||||||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan losses | $ | 3,037 | $ | 3,011 | $ | 2,777 | |||||||||||||||||||
Employee benefit plans’ liabilities | 4,326 | 4,135 | 3,846 | ||||||||||||||||||||||
Unrealized loss on available for sale securities, charged from equity | 3,684 | ||||||||||||||||||||||||
Earned retiree health benefits plan liability | 1,638 | 1,673 | 1,673 | ||||||||||||||||||||||
Other | 1,218 | 1,170 | 781 | ||||||||||||||||||||||
Deferred tax assets | 13,903 | 9,989 | 9,077 | ||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Unrealized gain on available for sale securities, charged to equity | 1,556 | 1,580 | |||||||||||||||||||||||
Unearned retiree health benefits plan asset | 579 | 948 | 1,086 | ||||||||||||||||||||||
Bank premises and equipment | 5,075 | 5,366 | 5,720 | ||||||||||||||||||||||
Other | 129 | 92 | 343 | ||||||||||||||||||||||
Deferred tax liabilities | 5,783 | 7,962 | 8,729 | ||||||||||||||||||||||
Net deferred taxes | $ | 8,120 | $ | 2,027 | $ | 348 | |||||||||||||||||||
Components of Income Taxes | ' | ||||||||||||||||||||||||
Income taxes consist of the following components (in thousands): | |||||||||||||||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current | $ | (1,406 | ) | $ | 1,425 | $ | 721 | ||||||||||||||||||
Deferred | (795 | ) | (1,517 | ) | (1,925 | ) | |||||||||||||||||||
Totals | $ | (2,201 | ) | $ | (92 | ) | $ | (1,204 | ) | ||||||||||||||||
Reconciliation of Federal Income Tax Rate | ' | ||||||||||||||||||||||||
The reasons for these differences are shown below (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Tax | Rate | Tax | Rate | Tax | Rate | ||||||||||||||||||||
Taxes computed at statutory rate | $ | (931 | ) | (34 | ) | $ | 867 | 34 | $ | (1 | ) | 34 | |||||||||||||
Increase (decrease) resulting from: | |||||||||||||||||||||||||
Tax-exempt interest income | (539 | ) | (20 | ) | (532 | ) | (21 | ) | (557 | ) | |||||||||||||||
Income from BOLI | (170 | ) | (6 | ) | (195 | ) | (8 | ) | (170 | ) | |||||||||||||||
Federal tax credits | (298 | ) | (11 | ) | (372 | ) | (15 | ) | (366 | ) | |||||||||||||||
Death benefits on life insurance | (159 | ) | |||||||||||||||||||||||
Other | (263 | ) | (9 | ) | 140 | 6 | 49 | ||||||||||||||||||
Total income tax benefit | $ | (2,201 | ) | (80 | ) | $ | (92 | ) | (4 | ) | $ | (1,204 | ) | ||||||||||||
SHAREHOLDERS_EQUITY_Tables
SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Actual Capital Amounts and Ratios and Required Minimum Capital Amounts and Ratios and Capital Amounts and Ratios to be Well Capitalized | ' | ||||||||||||||||||||||||
The Company’s actual capital amounts and ratios and required minimum capital amounts and ratios for 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||||||
Actual | For Capital Adequacy Purposes | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 111,141 | 22.79% | $ | 39,022 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 105,009 | 21.54% | 19,511 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 105,009 | 13.48% | 31,170 | 4.00% | |||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 112,342 | 21.29% | $ | 42,216 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 105,728 | 20.04% | 21,108 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 105,728 | 13.07% | 32,361 | 4.00% | |||||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 110,762 | 20.86% | $ | 42,475 | 8.00% | |||||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 104,116 | 19.61% | 21,238 | 4.00% | |||||||||||||||||||||
Tier 1 Capital (to Average Assets) | 104,116 | 12.84% | 32,436 | 4.00% | |||||||||||||||||||||
Subsidiaries [Member] | ' | ||||||||||||||||||||||||
Actual Capital Amounts and Ratios and Required Minimum Capital Amounts and Ratios and Capital Amounts and Ratios to be Well Capitalized | ' | ||||||||||||||||||||||||
The bank subsidiary’s actual capital amounts and ratios and required minimum capital amounts and ratios and capital amounts and ratios to be well capitalized for 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||||||
Actual | For Capital | To Be Well | |||||||||||||||||||||||
Adequacy Purposes | Capitalized | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 106,870 | 21.94 | % | $ | 38,968 | 8 | % | $ | 48,711 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 100,746 | 20.69 | % | 19,484 | 4 | % | 29,227 | 6 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 100,746 | 13.02 | % | 30,958 | 4 | % | 38,697 | 5 | % | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 107,885 | 20.47 | % | $ | 42,148 | 8 | % | $ | 52,685 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 101,241 | 19.22 | % | 21,074 | 4 | % | 31,611 | 6 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 101,241 | 12.62 | % | 32,086 | 4 | % | 40,108 | 5 | % | ||||||||||||||||
December 31, 2011: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 108,149 | 20.4 | % | $ | 42,413 | 8 | % | $ | 53,014 | 10 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 101,503 | 19.15 | % | 21,207 | 4 | % | 31,809 | 6 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 101,503 | 12.56 | % | 32,332 | 4 | % | 40,407 | 5 | % |
OTHER_INCOME_AND_EXPENSES_Tabl
OTHER INCOME AND EXPENSES (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other Income | ' | ||||||||||||
Other income consisted of the following (in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Other service charges, commissions and fees | $ | 74 | $ | 83 | $ | 78 | |||||||
Rentals | 433 | 442 | 392 | ||||||||||
Other | 100 | 142 | 45 | ||||||||||
Totals | $ | 607 | $ | 667 | $ | 515 | |||||||
Other Expenses | ' | ||||||||||||
Other expenses consisted of the following (in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Advertising | $ | 596 | $ | 489 | $ | 506 | |||||||
Data processing | 1,254 | 1,434 | 858 | ||||||||||
FDIC and state banking assessments | 870 | 503 | 1,688 | ||||||||||
Legal and accounting | 535 | 511 | 600 | ||||||||||
Other real estate | 963 | 648 | 1,350 | ||||||||||
ATM expense | 2,367 | 2,033 | 1,973 | ||||||||||
Trust expense | 332 | 314 | 331 | ||||||||||
Other | 1,876 | 1,813 | 1,709 | ||||||||||
Totals | $ | 8,793 | $ | 7,745 | $ | 9,015 | |||||||
CONDENSED_PARENT_COMPANY_ONLY_1
CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheets | ' | ||||||||||||
CONDENSED BALANCE SHEETS (IN THOUSANDS): | |||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||
Assets | |||||||||||||
Investments in subsidiaries, at underlying equity: | |||||||||||||
Bank subsidiary | $ | 94,883 | $ | 106,266 | $ | 104,731 | |||||||
Nonbank subsidiary | 1 | 1 | 1 | ||||||||||
Cash in bank subsidiary | 487 | 360 | 808 | ||||||||||
Other assets | 3,937 | 4,288 | 4,588 | ||||||||||
Total assets | $ | 99,308 | $ | 110,915 | $ | 110,128 | |||||||
Liabilities and Shareholders’ Equity: | |||||||||||||
Other liabilities | $ | 161 | $ | 161 | $ | 676 | |||||||
Total liabilities | 161 | 161 | 676 | ||||||||||
Shareholders’ equity | 99,147 | 110,754 | 109,452 | ||||||||||
Total liabilities and shareholders’ equity | $ | 99,308 | $ | 110,915 | $ | 110,128 | |||||||
Condensed Statements of Income | ' | ||||||||||||
CONDENSED STATEMENTS OF OPERATIONS (IN THOUSANDS): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Earnings of unconsolidated bank subsidiary: | |||||||||||||
Distributed earnings | $ | $ | 1,150 | $ | 898 | ||||||||
Undistributed earnings (loss) | -494 | 1,845 | 285 | ||||||||||
Loss on impairment of other investments | -360 | ||||||||||||
Other income | 57 | -71 | 110 | ||||||||||
Total income (loss) | -437 | 2,564 | 1,293 | ||||||||||
Expenses | |||||||||||||
Other | 122 | 105 | 95 | ||||||||||
Total expenses | 122 | 105 | 95 | ||||||||||
Income (loss) before income taxes | -559 | 2,459 | 1,198 | ||||||||||
Income tax benefit | -21 | -182 | -5 | ||||||||||
Net income (loss) | $ | (538) | $ | 2,641 | $ | 1,203 | |||||||
Condensed Statements of Cash Flows | ' | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Cash flows from operating activities: | |||||||||||||
Net income (loss) | $ | (538) | $ | 2,641 | $ | 1,203 | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||
(Income) loss on other investments | -42 | 84 | -97 | ||||||||||
Loss on impairment of other investments | 360 | ||||||||||||
Undistributed (income) loss of unconsolidated subsidiaries | 494 | -1,845 | -285 | ||||||||||
Other assets | 164 | -182 | 54 | ||||||||||
Other liabilities | -1 | ||||||||||||
Net cash provided by operating activities | 78 | 1,057 | 875 | ||||||||||
Cash flows from investing activities: | |||||||||||||
Redemption of equity securities | 230 | 36 | 93 | ||||||||||
Net cash provided by investing activities | 230 | 36 | 93 | ||||||||||
Cash flows from financing activities: | |||||||||||||
Retirement of stock | -181 | -193 | |||||||||||
Dividends paid | -1,541 | -924 | |||||||||||
Net cash used in financing activities | -181 | -1,541 | -1,117 | ||||||||||
Net increase (decrease) in cash | 127 | -448 | -149 | ||||||||||
Cash, beginning of year | 360 | 808 | 957 | ||||||||||
Cash, end of year | $ | 487 | $ | 360 | $ | 808 | |||||||
EMPLOYEE_AND_DIRECTOR_BENEFIT_1
EMPLOYEE AND DIRECTOR BENEFIT PLANS (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||
Summary of Components of Net Periodic Post-Retirement Benefit Cost (Credit) | ' | ||||||||||||
The following is a summary of the components of the net periodic post-retirement benefit cost (credit)(in thousands): | |||||||||||||
Years Ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Service cost | $ | 55 | $ | 45 | $ | 293 | |||||||
Interest cost | 82 | 72 | 222 | ||||||||||
Amortization of net gain | (2 | ) | (16 | ) | (46 | ) | |||||||
Amortization of net transition obligation | 21 | ||||||||||||
Amortization of prior service cost (credit) | (183 | ) | (203 | ) | 83 | ||||||||
Special termination benefit | 459 | ||||||||||||
Net periodic post-retirement benefit cost (credit) | $ | (48 | ) | $ | (102 | ) | $ | 1,032 | |||||
Schedule of Estimated and Aggregate Benefit Payments for Next Five Years | ' | ||||||||||||
The following table presents the estimated benefit payments for each of the next five years and in the aggregate for the next five years (in thousands): | |||||||||||||
2014 | $ | 206 | |||||||||||
2015 | 222 | ||||||||||||
2016 | 190 | ||||||||||||
2017 | 170 | ||||||||||||
2018 | 144 | ||||||||||||
2019-2023 | 645 | ||||||||||||
Reconciliation of Accumulated Post-Retirement Benefit Obligation, Included Other Liabilities | ' | ||||||||||||
The following is a reconciliation of the accumulated post-retirement benefit obligation, which is included in Other Liabilities (in thousands): | |||||||||||||
Accumulated post-retirement benefit obligation as of December 31, 2012 | $ | 1,906 | |||||||||||
Service cost | 55 | ||||||||||||
Interest cost | 82 | ||||||||||||
Actuarial gain | (250 | ) | |||||||||||
Plan changes | 1,150 | ||||||||||||
Benefits paid | (90 | ) | |||||||||||
Accumulated post-retirement benefit obligation as of December 31, 2013 | $ | 2,853 | |||||||||||
Summary of Change in Plan Assets | ' | ||||||||||||
The following is a summary of the change in plan assets (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Fair value of plan assets at beginning of year | $ | $ | $ | ||||||||||
Actual return on assets | |||||||||||||
Employer contribution | 90 | 67 | 76 | ||||||||||
Benefits paid, net | (90 | ) | (67 | ) | (76 | ) | |||||||
Fair value of plan assets at end of year | $ | $ | $ | ||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ||||||||||||
Amounts recognized in the Accumulated Other Comprehensive Income (Loss), net of tax, were (in thousands): | |||||||||||||
For the year ended December 31, | 2013 | 2012 | 2011 | ||||||||||
Net gain | $ | 288 | $ | 123 | $ | 256 | |||||||
Prior service charge | 837 | 1,718 | 1,852 | ||||||||||
Total accumulated other comprehensive income | $ | 1,125 | $ | 1,841 | $ | 2,108 | |||||||
Amounts Recognized in Accumulated Post-Retirement Benefit Obligation and Other Comprehensive Income (Loss) | ' | ||||||||||||
Amounts recognized in the accumulated post-retirement benefit obligation and other comprehensive income (loss) were (in thousands): | |||||||||||||
For the year ended December 31, | 2013 | ||||||||||||
Unrecognized actuarial gain | $ | (249 | ) | ||||||||||
Amortization of prior service cost | 1,334 | ||||||||||||
Total accumulated other comprehensive loss | $ | 1,085 | |||||||||||
FAIR_VALUE_MEASUREMENTS_AND_DI1
FAIR VALUE MEASUREMENTS AND DISCLOSURES (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Assets Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
The balances of available for sale securities, which are the only assets measured at fair value on a recurring basis, by level within the fair value hierarchy and by investment type, as of December 31, 2013, 2012 and 2011, were as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
U.S. Treasuries | $ | 43,648 | $ | $ | 43,648 | $ | |||||||||||||||
U.S. Government agencies | 145,805 | 145,805 | |||||||||||||||||||
Mortgage-backed securities | 50,326 | 50,326 | |||||||||||||||||||
States and political subdivisions | 35,011 | 35,011 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 275,440 | $ | $ | 275,440 | $ | |||||||||||||||
December 31, 2012: | |||||||||||||||||||||
U.S. Treasuries | $ | 54,096 | $ | $ | 54,096 | $ | |||||||||||||||
U.S. Government agencies | 149,098 | 149,098 | |||||||||||||||||||
Mortgage-backed securities | 17,441 | 17,441 | |||||||||||||||||||
States and political subdivisions | 37,591 | 37,591 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 258,876 | $ | $ | 258,876 | $ | |||||||||||||||
December 31, 2011: | |||||||||||||||||||||
U.S. Treasuries | $ | 54,010 | $ | $ | 54,010 | $ | |||||||||||||||
U.S. Government agencies | 179,180 | 179,180 | |||||||||||||||||||
Mortgage-backed securities | 5,001 | 5,001 | |||||||||||||||||||
States and political subdivisions | 40,077 | 40,077 | |||||||||||||||||||
Equity securities | 650 | 650 | |||||||||||||||||||
Total | $ | 278,918 | $ | $ | 278,918 | $ | |||||||||||||||
Carrying Value and Estimated Fair Value of Financial Assets and Financial Liabilities | ' | ||||||||||||||||||||
The carrying value and estimated fair value of assets and liabilities, by level within the fair value hierarchy, at December 31, 2013, 2012 and 2011, are as follows (in thousands): | |||||||||||||||||||||
Carrying | Fair Value Measurements Using | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 36,264 | $ | 36,264 | $ | $ | $ | 36,264 | |||||||||||||
Available for sale securities | 275,440 | 275,440 | 275,440 | ||||||||||||||||||
Held to maturity securities | 11,142 | 10,686 | 10,686 | ||||||||||||||||||
Other investments | 3,262 | 3,262 | 3,262 | ||||||||||||||||||
Federal Home Loan Bank stock | 3,834 | 3,834 | 3,834 | ||||||||||||||||||
Loans, net | 366,415 | 369,117 | 369,117 | ||||||||||||||||||
Other real estate | 9,630 | 9,630 | 9,630 | ||||||||||||||||||
Cash surrender value of life insurance | 17,456 | 17,456 | 17,456 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 107,117 | 107,117 | 107,117 | ||||||||||||||||||
Interest bearing | 321,441 | 322,535 | 322,535 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 139,639 | 139,639 | 139,639 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 77,684 | 79,051 | 79,051 | ||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 54,020 | $ | 54,020 | $ | $ | $ | 54,020 | |||||||||||||
Available for sale securities | 258,876 | 258,876 | 258,876 | ||||||||||||||||||
Held to maturity securities | 7,125 | 7,225 | 7,225 | ||||||||||||||||||
Other investments | 3,450 | 3,450 | 3,450 | ||||||||||||||||||
Federal Home Loan Bank stock | 2,380 | 2,380 | 2,380 | ||||||||||||||||||
Loans, net | 422,226 | 425,627 | 425,627 | ||||||||||||||||||
Other real estate | 7,008 | 7,008 | 7,008 | ||||||||||||||||||
Cash surrender value of life insurance | 16,861 | 16,861 | 16,861 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 102,609 | 102,609 | 102,609 | ||||||||||||||||||
Interest bearing | 373,110 | 376,209 | 376,209 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 194,234 | 194,234 | 194,234 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 7,912 | 10,271 | 10,271 | ||||||||||||||||||
December 31, 2011: | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 36,929 | $ | 36,929 | $ | $ | $ | 36,929 | |||||||||||||
Available for sale securities | 278,918 | 278,918 | 278,918 | ||||||||||||||||||
Held to maturity securities | 1,429 | 1,492 | 1,492 | ||||||||||||||||||
Other investments | 3,930 | 3,930 | 3,930 | ||||||||||||||||||
Federal Home Loan Bank stock | 2,581 | 2,581 | 2,581 | ||||||||||||||||||
Loans, net | 424,271 | 427,881 | 427,881 | ||||||||||||||||||
Other real estate | 6,153 | 6,153 | 6,153 | ||||||||||||||||||
Cash surrender value of life insurance | 16,197 | 16,197 | 16,197 | ||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Non-interest bearing | 97,581 | 97,581 | 97,581 | ||||||||||||||||||
Interest bearing | 370,858 | 372,019 | 372,019 | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 157,601 | 157,601 | 157,601 | ||||||||||||||||||
Borrowings from Federal Home Loan Bank | 53,324 | 55,014 | 55,014 | ||||||||||||||||||
Impaired loans [Member] | ' | ||||||||||||||||||||
Assets Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||||||
Impaired loans, which are measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of December 31, 2013, 2012 and 2011 were as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
December 31: | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
2013 | $ | 18,831 | $ | $ | $ | 18,831 | |||||||||||||||
2012 | 16,030 | 16,030 | |||||||||||||||||||
2011 | 15,202 | 15,202 | |||||||||||||||||||
Changes in Fair Value | ' | ||||||||||||||||||||
The following table presents a summary of changes in the fair value of impaired loans which are measured using Level 3 inputs (in thousands): | |||||||||||||||||||||
For the year ended December 31, | 2013 | 2012 | 2011 | ||||||||||||||||||
Balance, beginning of year | $ | 16,030 | $ | 15,202 | $ | 2,136 | |||||||||||||||
Additions to impaired loans and troubled debt restructurings | 17,424 | 2,960 | 17,101 | ||||||||||||||||||
Principal payments, charge-offs and transfers to other real estate | (15,153 | ) | (2,086 | ) | (1,447 | ) | |||||||||||||||
Change in allowance for loan losses on impaired loans | 530 | (46 | ) | (2,588 | ) | ||||||||||||||||
Balance, end of year | $ | 18,831 | $ | 16,030 | $ | 15,202 | |||||||||||||||
Other real estate [Member] | ' | ||||||||||||||||||||
Assets Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||||||
Other real estate, which is measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of December 31, 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
December 31: | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
2013 | $ | 9,630 | $ | $ | $ | 9,630 | |||||||||||||||
2012 | 7,008 | 7,008 | |||||||||||||||||||
2011 | 6,153 | 6,153 | |||||||||||||||||||
Changes in Fair Value | ' | ||||||||||||||||||||
The following table presents a summary of changes in the fair value of other real estate which is measured using Level 3 inputs (in thousands): | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Balance, beginning of year | $ | 7,008 | $ | 6,153 | $ | 5,744 | |||||||||||||||
Loans transferred to ORE | 4,537 | 2,576 | 3,221 | ||||||||||||||||||
Sales | (1,188 | ) | (1,568 | ) | (2,101 | ) | |||||||||||||||
Writedowns | (670 | ) | (153 | ) | (711 | ) | |||||||||||||||
Insurance proceeds from casualty loss | (57 | ) | |||||||||||||||||||
Balance, end of year | $ | 9,630 | $ | 7,008 | $ | 6,153 | |||||||||||||||
Recovered_Sheet1
Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Subsidiary | |||
Accounting Policies [Abstract] | ' | ' | ' |
Number of operating subsidiaries | 2 | ' | ' |
Average amount of reserve requirement | $407,000 | $566,000 | $701,000 |
Percentage of partnership in other investment | 99.00% | ' | ' |
Federal Home Loan Bank Stock, par value | $100 | ' | ' |
Number of days required to review relative to collectability | '90 days | ' | ' |
Requirement of amount of loans secured by real estate to prepare appraisal | 250,000 | ' | ' |
Validation period of Appraisals | '12 months | ' | ' |
Shares of common stock outstanding | 5,128,889 | 5,136,918 | 5,136,918 |
Interest on deposits and borrowings | 1,470,945 | 2,082,914 | 3,222,385 |
Income tax payments | 810,000 | 835,000 | 755,000 |
Loans transferred to other real estate | 4,536,710 | 2,575,520 | 3,221,510 |
Dividends paid | ' | $513,692 | $462,323 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | $286,276 | $254,299 | $274,272 |
Available for sale securities, Gross Unrealized Gains | 2,177 | 4,996 | 4,690 |
Available for sale securities, Gross Unrealized Losses | -13,013 | -419 | -44 |
Available for sale securities, Fair Value | 275,440 | 258,876 | 278,918 |
Held to maturity securities, Amortized Cost | 11,142 | 7,125 | 1,429 |
Held to maturity securities, Gross Unrealized Gains | 13 | 112 | 63 |
Held to maturity securities, Gross Unrealized Losses | -469 | -12 | ' |
Held to maturity securities, Fair Value | 10,686 | 7,225 | 1,492 |
Debt securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 285,626 | 253,649 | 273,622 |
Available for sale securities, Gross Unrealized Gains | 2,177 | 4,996 | 4,690 |
Available for sale securities, Gross Unrealized Losses | -13,013 | -419 | -44 |
Available for sale securities, Fair Value | 274,790 | 258,226 | 278,268 |
Equity securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 650 | 650 | 650 |
Available for sale securities, Fair Value | 650 | 650 | 650 |
States and political subdivisions [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Held to maturity securities, Amortized Cost | 11,142 | 7,125 | 1,429 |
Held to maturity securities, Gross Unrealized Gains | 13 | 112 | 63 |
Held to maturity securities, Gross Unrealized Losses | -469 | -12 | ' |
Held to maturity securities, Fair Value | 10,686 | 7,225 | 1,492 |
States and political subdivisions [Member] | Debt securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 33,764 | 35,433 | 37,914 |
Available for sale securities, Gross Unrealized Gains | 1,248 | 2,158 | 2,163 |
Available for sale securities, Gross Unrealized Losses | -1 | ' | ' |
Available for sale securities, Fair Value | 35,011 | 37,591 | 40,077 |
U.S. Treasuries [Member] | Debt securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 44,636 | 53,661 | 53,995 |
Available for sale securities, Gross Unrealized Gains | 54 | 490 | 33 |
Available for sale securities, Gross Unrealized Losses | -1,042 | -55 | -18 |
Available for sale securities, Fair Value | 43,648 | 54,096 | 54,010 |
U.S. Government agencies [Member] | Debt securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 155,772 | 147,652 | 176,986 |
Available for sale securities, Gross Unrealized Gains | 734 | 1,810 | 2,220 |
Available for sale securities, Gross Unrealized Losses | -10,701 | -364 | -26 |
Available for sale securities, Fair Value | 145,805 | 149,098 | 179,180 |
Mortgage-backed securities [Member] | Debt securities [Member] | ' | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' | ' |
Available for sale securities, Amortized Cost | 51,454 | 16,903 | 4,727 |
Available for sale securities, Gross Unrealized Gains | 141 | 538 | 274 |
Available for sale securities, Gross Unrealized Losses | -1,269 | ' | ' |
Available for sale securities, Fair Value | $50,326 | $17,441 | $5,001 |
Securities_Amortized_Cost_and_1
Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Available for sale securities: | ' | ' | ' |
Available for sale securities, Due in one year or less, Amortized Cost | $16,442 | ' | ' |
Available for sale securities, Due after one year through five years, Amortized Cost | 49,769 | ' | ' |
Available for sale securities, Due after five year through ten years, Amortized Cost | 80,136 | ' | ' |
Available for sale securities, Due after ten years, Amortized Cost | 87,825 | ' | ' |
Available for sale securities, Mortgage-backed securities, Amortized Cost | 51,454 | ' | ' |
Totals, Amortized Cost | 285,626 | ' | ' |
Available for sale securities, Due in one year or less, Fair Value | 16,527 | ' | ' |
Available for sale securities, Due after one year through five years, Fair Value | 50,052 | ' | ' |
Available for sale securities, Due after five years through ten years, Fair Value | 78,561 | ' | ' |
Available for sale securities, Due after ten years, Fair Value | 79,324 | ' | ' |
Available for sale securities, Mortgage-backed securities, Fair value | 50,326 | ' | ' |
Totals, Fair Value | 274,790 | ' | ' |
Held to maturity securities: | ' | ' | ' |
Held to maturity securities, Due in one year or less, Amortized Cost | 664 | ' | ' |
Held to maturity securities, Due after one year through five years, Amortized Cost | 1,323 | ' | ' |
Held to maturity securities, Due after five years through ten years, Amortized Cost | 6,286 | ' | ' |
Held to maturity securities, Due after ten years, Amortized Cost | 2,869 | ' | ' |
Totals, Amortized Cost | 11,142 | 7,125 | 1,429 |
Held to maturity securities, Due in one year or less, Fair Value | 671 | ' | ' |
Held to maturity securities, Due after one year through five years, Fair Value | 1,320 | ' | ' |
Held to maturity securities, Due after five years through ten years, Fair Value | 6,125 | ' | ' |
Held to maturity securities, Due after ten years, Fair Value | 2,570 | ' | ' |
Totals, Fair Value | $10,686 | $7,225 | $1,492 |
Securities_Available_for_Sale_
Securities - Available for Sale and Held to Maturity Securities with Gross Unrealized Losses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Fair Value | $195,113 | $41,673 | $32,051 |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Gross Unrealized Losses | 13,103 | 431 | 44 |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Fair Value | 4,621 | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Gross Unrealized Losses | 379 | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Fair Value | 199,734 | 41,673 | 32,051 |
Available for Sale and Held to Maturity Securities, Total, Gross Unrealized Losses | 13,482 | 431 | 44 |
U.S. Treasuries [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Fair Value | 29,708 | 9,887 | 16,976 |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Gross Unrealized Losses | 1,042 | 55 | 18 |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Fair Value | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Gross Unrealized Losses | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Fair Value | 29,708 | 9,887 | 16,976 |
Available for Sale and Held to Maturity Securities, Total, Gross Unrealized Losses | 1,042 | 55 | 18 |
U.S. Government agencies [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Fair Value | 113,446 | 30,335 | 15,075 |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Gross Unrealized Losses | 10,322 | 364 | 26 |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Fair Value | 4,621 | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Gross Unrealized Losses | 379 | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Fair Value | 118,067 | 30,335 | 15,075 |
Available for Sale and Held to Maturity Securities, Total, Gross Unrealized Losses | 10,701 | 364 | 26 |
Mortgage-backed securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Fair Value | 44,269 | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Gross Unrealized Losses | 1,269 | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Fair Value | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Gross Unrealized Losses | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Fair Value | 44,269 | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Gross Unrealized Losses | 1,269 | ' | ' |
States and political subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Fair Value | 7,690 | 1,451 | ' |
Available for Sale and Held to Maturity Securities, Less Than Twelve Months, Gross Unrealized Losses | 470 | 12 | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Fair Value | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Over Twelve Months, Gross Unrealized Losses | ' | ' | ' |
Available for Sale and Held to Maturity Securities, Total, Fair Value | 7,690 | 1,451 | ' |
Available for Sale and Held to Maturity Securities, Total, Gross Unrealized Losses | $470 | $12 | ' |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Proceeds from sales of available for sale debt securities | $26,075,225 | $77,605,104 | $60,714,150 |
Available for sale debt securities were sold and called for realized gains | 257,997 | 1,363,802 | 1,126,055 |
Impairment loss on other investment | ' | 360,000 | ' |
Amount of securities with fair value | $262,830,011 | $241,879,775 | $278,540,119 |
U.S. Treasuries [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities issued contained unrealized Loss | 7 | ' | ' |
Securities issued | 11 | ' | ' |
U.S. Government agencies [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities issued contained unrealized Loss | 25 | ' | ' |
Securities issued | 31 | ' | ' |
Mortgage-backed securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities issued contained unrealized Loss | 11 | ' | ' |
Securities issued | 13 | ' | ' |
States and political subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Securities issued contained unrealized Loss | 28 | ' | ' |
Securities issued | 143 | ' | ' |
Loans_Composition_of_Loan_Port
Loans - Composition of Loan Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Loans And Leases Receivable Net Reported Amount [Abstract] | ' | ' | ' |
Gaming | $29,570 | $60,187 | $57,219 |
Residential and land development | 19,403 | 27,338 | 29,026 |
Real estate, construction | 44,987 | 52,586 | 61,042 |
Real estate, mortgage | 237,158 | 246,420 | 238,411 |
Commercial and industrial | 35,007 | 35,004 | 33,950 |
Other | 9,224 | 9,548 | 12,759 |
Total | $375,349 | $431,083 | $432,407 |
Loans_Summary_of_Loans_to_Rela
Loans - Summary of Loans to Related Parties (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans And Leases Receivable Related Parties Disclosure [Abstract] | ' | ' | ' |
Beginning balance | $6,310 | $5,681 | $5,552 |
Beginning balance, loans of officers and directors appointed during the year | ' | ' | 123 |
New loans and advances | 1,647 | 3,755 | 2,426 |
Repayments | -1,196 | -3,126 | -2,420 |
Ending balance | $6,761 | $6,310 | $5,681 |
Loans_Evaluation_of_Quality_of
Loans - Evaluation of Quality of Loan Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | $29,570 | $60,187 | $57,219 |
Credit Concentration Risk [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | 29,570 | 60,187 | 57,219 |
Hotel/motel | 49,842 | 52,776 | 46,956 |
Out of area | $24,945 | $25,413 | $26,171 |
Loans_Age_Analysis_of_Loan_Por
Loans - Age Analysis of Loan Portfolio, Segregated by Class of Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | $12,226 | $17,932 | $17,373 |
Number of Days Past Due, 60-89 | 2,689 | 5,406 | 3,925 |
Number of Days Past Due, Greater Than 90 | 28,158 | 19,629 | 44,007 |
Number of Days Past Due, Total Past Due | 43,073 | 42,967 | 65,305 |
Current | 332,276 | 388,116 | 367,102 |
Total | 375,349 | 431,083 | 432,407 |
Loans Past Due Greater Than 90 Days and Still Accruing | 651 | 1,445 | 1,832 |
Gaming [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | ' | ' | ' |
Number of Days Past Due, 60-89 | ' | 1,721 | ' |
Number of Days Past Due, Greater Than 90 | ' | ' | ' |
Number of Days Past Due, Total Past Due | ' | 1,721 | ' |
Current | 29,570 | 58,466 | 57,219 |
Total | 29,570 | 60,187 | 57,219 |
Loans Past Due Greater Than 90 Days and Still Accruing | ' | ' | ' |
Residential and land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | 51 | ' | ' |
Number of Days Past Due, 60-89 | ' | ' | ' |
Number of Days Past Due, Greater Than 90 | 13,572 | 5,765 | 24,161 |
Number of Days Past Due, Total Past Due | 13,623 | 5,765 | 24,161 |
Current | 5,780 | 21,573 | 4,865 |
Total | 19,403 | 27,338 | 29,026 |
Loans Past Due Greater Than 90 Days and Still Accruing | ' | ' | ' |
Real estate, construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | 3,846 | 3,989 | 2,084 |
Number of Days Past Due, 60-89 | ' | 878 | 1,395 |
Number of Days Past Due, Greater Than 90 | 9,452 | 6,151 | 6,364 |
Number of Days Past Due, Total Past Due | 13,298 | 11,018 | 9,843 |
Current | 31,689 | 41,568 | 51,199 |
Total | 44,987 | 52,586 | 61,042 |
Loans Past Due Greater Than 90 Days and Still Accruing | 146 | 572 | 376 |
Real estate, mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | 6,910 | 12,012 | 13,569 |
Number of Days Past Due, 60-89 | 2,684 | 2,702 | 2,341 |
Number of Days Past Due, Greater Than 90 | 5,134 | 7,605 | 12,963 |
Number of Days Past Due, Total Past Due | 14,728 | 22,319 | 28,873 |
Current | 222,430 | 224,101 | 209,538 |
Total | 237,158 | 246,420 | 238,411 |
Loans Past Due Greater Than 90 Days and Still Accruing | 505 | 872 | 1,314 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | 1,192 | 1,804 | 1,536 |
Number of Days Past Due, 60-89 | ' | 79 | 166 |
Number of Days Past Due, Greater Than 90 | ' | 107 | 388 |
Number of Days Past Due, Total Past Due | 1,192 | 1,990 | 2,090 |
Current | 33,815 | 33,014 | 31,860 |
Total | 35,007 | 35,004 | 33,950 |
Loans Past Due Greater Than 90 Days and Still Accruing | ' | ' | 142 |
Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Number of Days Past Due, 30-59 | 227 | 127 | 184 |
Number of Days Past Due, 60-89 | 5 | 26 | 23 |
Number of Days Past Due, Greater Than 90 | ' | 1 | 131 |
Number of Days Past Due, Total Past Due | 232 | 154 | 338 |
Current | 8,992 | 9,394 | 12,421 |
Total | 9,224 | 9,548 | 12,759 |
Loans Past Due Greater Than 90 Days and Still Accruing | ' | $1 | ' |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Real estate, construction [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Troubled debt restructurings loans segment | ' | $182,164 |
Real estate, mortgage [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Troubled debt restructurings loans segment | $1,652,903 | $527,677 |
Minimum [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Loan on factors | 1 | ' |
Maximum [Member] | ' | ' |
Loans [Line Items] | ' | ' |
Loan on factors | 5 | ' |
Loans_Analysis_of_Loan_Portfol
Loans - Analysis of Loan Portfolio by Loan Grade, Segregated by Class of Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | $29,570 | $60,187 | $57,219 |
Residential and land development | 19,403 | 27,338 | 29,026 |
Real estate, construction | 44,987 | 52,586 | 61,042 |
Real estate, mortgage | 237,158 | 246,420 | 238,411 |
Commercial and industrial | 35,007 | 35,004 | 33,950 |
Other | 9,224 | 9,548 | 12,759 |
Total | 375,349 | 431,083 | 432,407 |
A or B [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | 23,975 | 27,530 | 41,817 |
Residential and land development | 4,236 | 4,630 | 4,865 |
Real estate, construction | 38,808 | 43,318 | 50,798 |
Real estate, mortgage | 204,569 | 209,479 | 197,509 |
Commercial and industrial | 31,902 | 32,036 | 23,972 |
Other | 9,131 | 9,449 | 12,268 |
Total | 312,621 | 326,442 | 331,229 |
C [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | 2,500 | 12,300 | ' |
Residential and land development | 1,544 | 1,544 | ' |
Real estate, construction | 781 | 1,001 | 357 |
Real estate, mortgage | 4,495 | 3,093 | 2,862 |
Commercial and industrial | 682 | 442 | 6,551 |
Other | 24 | 27 | 40 |
Total | 10,026 | 18,407 | 9,810 |
D [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | ' | 4,108 | ' |
Residential and land development | 51 | 81 | 51 |
Real estate, construction | 2,220 | 2,701 | 3,695 |
Real estate, mortgage | 17,852 | 21,167 | 25,870 |
Commercial and industrial | 2,402 | 2,312 | 3,077 |
Other | 50 | 72 | 384 |
Total | 22,575 | 30,441 | 33,077 |
E [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | 3,095 | 16,249 | 15,402 |
Residential and land development | 13,572 | 21,083 | 24,110 |
Real estate, construction | 3,178 | 5,566 | 6,192 |
Real estate, mortgage | 10,242 | 12,681 | 12,170 |
Commercial and industrial | 21 | 214 | 350 |
Other | 19 | ' | 67 |
Total | 30,127 | 55,793 | 58,291 |
F [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gaming | ' | ' | ' |
Residential and land development | ' | ' | ' |
Real estate, construction | ' | ' | ' |
Real estate, mortgage | ' | ' | ' |
Commercial and industrial | ' | ' | ' |
Other | ' | ' | ' |
Total | ' | ' | ' |
Loans_Total_Loans_on_Nonaccrua
Loans - Total Loans on Nonaccrual (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | $26,171 | $53,891 | $57,593 |
Gaming [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | 1,223 | 16,249 | 15,402 |
Residential and land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | 13,572 | 21,083 | 24,110 |
Real estate, construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | 2,588 | 5,171 | 6,042 |
Real estate, mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | 8,788 | 11,174 | 11,662 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | ' | 214 | 246 |
Other Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans on nonaccrual | ' | ' | $131 |
Loans_Troubled_Debt_Restructur
Loans - Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Contracts | 9 | 7 | 9 |
Pre-Modification Outstanding Recorded Investment | $11,581 | $10,851 | $11,697 |
Post-Modification Outstanding Recorded Investment | 11,581 | 10,851 | 11,697 |
Related Allowance | 1,264 | 1,297 | 921 |
Real estate, construction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Contracts | 2 | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | 891 | 1,095 | 1,075 |
Post-Modification Outstanding Recorded Investment | 891 | 1,095 | 1,075 |
Related Allowance | 270 | 340 | 112 |
Real estate, mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Contracts | 6 | 3 | 5 |
Pre-Modification Outstanding Recorded Investment | 10,012 | 9,054 | 9,916 |
Post-Modification Outstanding Recorded Investment | 10,012 | 9,054 | 9,916 |
Related Allowance | 994 | 957 | 809 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Contracts | 1 | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 678 | 702 | 706 |
Post-Modification Outstanding Recorded Investment | $678 | $702 | $706 |
Loans_Impaired_Loans_Segregate
Loans - Impaired Loans, Segregated by Class of Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | $17,119 | $51,863 | $55,920 |
With no related allowance recorded, Recorded Investment | 16,520 | 50,668 | 52,685 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 16,305 | 50,602 | 21,691 |
With no related allowance recorded, Interest Income Recognized | 76 | 23 | 13 |
With a related allowance recorded, Unpaid Principal Balance | 30,136 | 14,682 | 17,536 |
With a related allowance recorded, Recorded Investment | 21,232 | 14,074 | 16,605 |
With a related allowance recorded, Related Allowance | 2,544 | 3,074 | 3,028 |
With a related allowance recorded, Average Investment | 27,265 | 11,863 | 6,187 |
With a related allowance recorded, Interest Income Recognized | 329 | 327 | 198 |
Total by class of loans, Unpaid Principal Balance | 47,255 | 66,545 | 73,456 |
Total by class of loans, Recorded Investment | 37,752 | 64,742 | 69,290 |
Total by class of loans, Related Allowance | 2,544 | 3,074 | 3,028 |
Total by class of loans, Average Recorded Investment | 43,570 | 62,465 | 27,878 |
Total by class of loans, Interest Income Recognized | 405 | 350 | 211 |
Gaming [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | 14,528 | 15,402 |
With no related allowance recorded, Recorded Investment | ' | 14,528 | 15,402 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | ' | 14,869 | 12,488 |
With no related allowance recorded, Interest Income Recognized | ' | ' | ' |
With a related allowance recorded, Unpaid Principal Balance | 1,698 | 1,721 | ' |
With a related allowance recorded, Recorded Investment | 1,223 | 1,721 | ' |
With a related allowance recorded, Related Allowance | 626 | 1,100 | ' |
With a related allowance recorded, Average Investment | 1,316 | ' | ' |
With a related allowance recorded, Interest Income Recognized | ' | ' | ' |
Total by class of loans, Unpaid Principal Balance | 1,698 | 16,249 | 15,402 |
Total by class of loans, Recorded Investment | 1,223 | 16,249 | 15,402 |
Total by class of loans, Related Allowance | 626 | 1,100 | ' |
Total by class of loans, Average Recorded Investment | 1,316 | 14,869 | 12,488 |
Total by class of loans, Interest Income Recognized | ' | ' | ' |
Residential and land development [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 4,425 | 21,837 | 24,941 |
With no related allowance recorded, Recorded Investment | 4,425 | 20,733 | 21,746 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 4,465 | 21,288 | 7,382 |
With no related allowance recorded, Interest Income Recognized | ' | ' | ' |
With a related allowance recorded, Unpaid Principal Balance | 17,576 | 350 | 2,364 |
With a related allowance recorded, Recorded Investment | 9,147 | 350 | 2,364 |
With a related allowance recorded, Related Allowance | 471 | 70 | 900 |
With a related allowance recorded, Average Investment | 15,909 | 350 | ' |
With a related allowance recorded, Interest Income Recognized | ' | ' | ' |
Total by class of loans, Unpaid Principal Balance | 22,001 | 22,187 | 27,305 |
Total by class of loans, Recorded Investment | 13,572 | 21,083 | 24,110 |
Total by class of loans, Related Allowance | 471 | 70 | 900 |
Total by class of loans, Average Recorded Investment | 20,374 | 21,638 | 7,382 |
Total by class of loans, Interest Income Recognized | ' | ' | ' |
Real estate, construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 2,294 | 4,635 | 4,743 |
With no related allowance recorded, Recorded Investment | 2,294 | 4,580 | 4,711 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 2,054 | 3,833 | 297 |
With no related allowance recorded, Interest Income Recognized | 26 | ' | ' |
With a related allowance recorded, Unpaid Principal Balance | 1,185 | 1,694 | 2,406 |
With a related allowance recorded, Recorded Investment | 1,185 | 1,686 | 2,406 |
With a related allowance recorded, Related Allowance | 337 | 663 | 720 |
With a related allowance recorded, Average Investment | 1,239 | 1,314 | 185 |
With a related allowance recorded, Interest Income Recognized | 23 | 8 | 11 |
Total by class of loans, Unpaid Principal Balance | 3,479 | 6,329 | 7,149 |
Total by class of loans, Recorded Investment | 3,479 | 6,266 | 7,117 |
Total by class of loans, Related Allowance | 337 | 663 | 720 |
Total by class of loans, Average Recorded Investment | 3,293 | 5,147 | 482 |
Total by class of loans, Interest Income Recognized | 49 | 8 | 11 |
Real estate, mortgage [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 9,722 | 9,971 | 9,965 |
With no related allowance recorded, Recorded Investment | 9,123 | 9,935 | 9,957 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 9,097 | 9,821 | 1,111 |
With no related allowance recorded, Interest Income Recognized | 26 | ' | ' |
With a related allowance recorded, Unpaid Principal Balance | 9,677 | 10,893 | 12,552 |
With a related allowance recorded, Recorded Investment | 9,677 | 10,293 | 11,621 |
With a related allowance recorded, Related Allowance | 1,110 | 1,229 | 1,314 |
With a related allowance recorded, Average Investment | 8,801 | 10,199 | 5,971 |
With a related allowance recorded, Interest Income Recognized | 306 | 319 | 187 |
Total by class of loans, Unpaid Principal Balance | 19,399 | 20,864 | 22,517 |
Total by class of loans, Recorded Investment | 18,800 | 20,228 | 21,578 |
Total by class of loans, Related Allowance | 1,110 | 1,229 | 1,314 |
Total by class of loans, Average Recorded Investment | 17,898 | 20,020 | 7,082 |
Total by class of loans, Interest Income Recognized | 332 | 319 | 187 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 678 | 892 | 864 |
With no related allowance recorded, Recorded Investment | 678 | 892 | 864 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 689 | 791 | 413 |
With no related allowance recorded, Interest Income Recognized | 24 | 23 | 13 |
With a related allowance recorded, Unpaid Principal Balance | ' | 24 | 88 |
With a related allowance recorded, Recorded Investment | ' | 24 | 88 |
With a related allowance recorded, Related Allowance | ' | 12 | 77 |
With a related allowance recorded, Average Investment | ' | ' | ' |
With a related allowance recorded, Interest Income Recognized | ' | ' | ' |
Total by class of loans, Unpaid Principal Balance | 678 | 916 | 952 |
Total by class of loans, Recorded Investment | 678 | 916 | 952 |
Total by class of loans, Related Allowance | ' | 12 | 77 |
Total by class of loans, Average Recorded Investment | 689 | 791 | 413 |
Total by class of loans, Interest Income Recognized | 24 | 23 | 13 |
Other [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | ' | 5 |
With no related allowance recorded, Recorded Investment | ' | ' | 5 |
With no related allowance recorded, Related Allowance | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | ' | ' | ' |
With no related allowance recorded, Interest Income Recognized | ' | ' | ' |
With a related allowance recorded, Unpaid Principal Balance | ' | ' | 126 |
With a related allowance recorded, Recorded Investment | ' | ' | 126 |
With a related allowance recorded, Related Allowance | ' | ' | 17 |
With a related allowance recorded, Average Investment | ' | ' | 31 |
With a related allowance recorded, Interest Income Recognized | ' | ' | ' |
Total by class of loans, Unpaid Principal Balance | ' | ' | 131 |
Total by class of loans, Recorded Investment | ' | ' | 131 |
Total by class of loans, Related Allowance | ' | ' | 17 |
Total by class of loans, Average Recorded Investment | ' | ' | 31 |
Total by class of loans, Interest Income Recognized | ' | ' | ' |
Loans_Transactions_in_Allowanc
Loans - Transactions in Allowance for loan Losses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | $8,857 | $8,136 | $6,650 |
Charge-offs | -10,122 | -3,676 | -1,672 |
Recoveries | 538 | 133 | 223 |
Provision | 9,661 | 4,264 | 2,935 |
Ending Balance | 8,934 | 8,857 | 8,136 |
Individually evaluated for impairment | 3,785 | 4,115 | 4,112 |
Collectively evaluated for impairment | 5,149 | 4,742 | 4,024 |
Individually evaluated for impairment, Total | 52,704 | 86,234 | 99,941 |
Collectively evaluated for impairment, Total | 322,645 | 344,849 | 332,466 |
Gaming [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 1,541 | 457 | 465 |
Charge-offs | -474 | -275 | ' |
Recoveries | 110 | ' | 35 |
Provision | -200 | 1,359 | -43 |
Ending Balance | 977 | 1,541 | 457 |
Individually evaluated for impairment | 626 | 1,100 | ' |
Collectively evaluated for impairment | 351 | 441 | 457 |
Individually evaluated for impairment, Total | 3,095 | 20,357 | 15,677 |
Collectively evaluated for impairment, Total | 26,475 | 39,830 | 41,542 |
Residential and land development [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 200 | 1,081 | 1,070 |
Charge-offs | -7,325 | -1,103 | ' |
Recoveries | 67 | ' | ' |
Provision | 7,834 | 222 | 11 |
Ending Balance | 776 | 200 | 1,081 |
Individually evaluated for impairment | 471 | ' | 900 |
Collectively evaluated for impairment | 305 | 200 | 181 |
Individually evaluated for impairment, Total | 13,624 | 21,165 | 24,110 |
Collectively evaluated for impairment, Total | 5,779 | 6,173 | 4,916 |
Real estate, construction [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 967 | 937 | 1,020 |
Charge-offs | -1,013 | -474 | -276 |
Recoveries | 97 | ' | 32 |
Provision | 644 | 504 | 161 |
Ending Balance | 695 | 967 | 937 |
Individually evaluated for impairment | 615 | 922 | 853 |
Collectively evaluated for impairment | 80 | 45 | 84 |
Individually evaluated for impairment, Total | 5,399 | 8,267 | 9,660 |
Collectively evaluated for impairment, Total | 39,588 | 44,319 | 51,382 |
Real estate, mortgage [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 5,273 | 4,800 | 3,413 |
Charge-offs | -1,048 | -1,348 | -1,126 |
Recoveries | 150 | 7 | 48 |
Provision | 1,178 | 1,814 | 2,465 |
Ending Balance | 5,553 | 5,273 | 4,800 |
Individually evaluated for impairment | 1,698 | 1,758 | 1,953 |
Collectively evaluated for impairment | 3,855 | 3,515 | 2,847 |
Individually evaluated for impairment, Total | 28,094 | 33,848 | 37,988 |
Collectively evaluated for impairment, Total | 209,064 | 212,572 | 200,423 |
Commercial and Industrial [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 593 | 557 | 480 |
Charge-offs | -24 | -203 | -95 |
Recoveries | 26 | 41 | 24 |
Provision | 37 | 198 | 148 |
Ending Balance | 632 | 593 | 557 |
Individually evaluated for impairment | 342 | 300 | 349 |
Collectively evaluated for impairment | 290 | 293 | 208 |
Individually evaluated for impairment, Total | 2,423 | 2,525 | 9,493 |
Collectively evaluated for impairment, Total | 32,584 | 32,479 | 24,457 |
Other [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 283 | 304 | 202 |
Charge-offs | -238 | -273 | -175 |
Recoveries | 88 | 85 | 84 |
Provision | 168 | 167 | 193 |
Ending Balance | 301 | 283 | 304 |
Individually evaluated for impairment | 33 | 35 | 57 |
Collectively evaluated for impairment | 268 | 248 | 247 |
Individually evaluated for impairment, Total | 69 | 72 | 3,013 |
Collectively evaluated for impairment, Total | $9,155 | $9,476 | $9,746 |
Bank_Premises_and_Equipment_Su
Bank Premises and Equipment - Summary of Bank Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Land [Member] | Land [Member] | Land [Member] | Building [Member] | Building [Member] | Building [Member] | Building [Member] | Building [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | |||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Useful Lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '40 years | ' | ' | ' | '3 years | '10 years |
Totals, at cost | $51,794 | $50,976 | $50,856 | $5,982 | $5,985 | $5,985 | $30,540 | $30,504 | $30,494 | ' | ' | $15,272 | $14,487 | $14,377 | ' | ' |
Less: Accumulated depreciation | 26,486 | 24,754 | 22,821 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Totals | $25,308 | $26,222 | $28,035 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other_Real_Estate_Companys_Oth
Other Real Estate - Company's Other Real Estate (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Property | Property | Property |
Real Estate By Property [Line Items] | ' | ' | ' |
Number of Properties | 41 | 32 | 32 |
Balance | $9,630 | $7,008 | $6,153 |
Construction, land development and other land [Member] | ' | ' | ' |
Real Estate By Property [Line Items] | ' | ' | ' |
Number of Properties | 18 | 11 | 8 |
Balance | 4,887 | 2,834 | 1,544 |
1 - 4 family residential properties [Member] | ' | ' | ' |
Real Estate By Property [Line Items] | ' | ' | ' |
Number of Properties | 6 | 6 | 8 |
Balance | 180 | 576 | 821 |
Non farm non residential [Member] | ' | ' | ' |
Real Estate By Property [Line Items] | ' | ' | ' |
Number of Properties | 17 | 14 | 16 |
Balance | 4,563 | 3,573 | 3,788 |
Other [Member] | ' | ' | ' |
Real Estate By Property [Line Items] | ' | ' | ' |
Number of Properties | ' | 1 | ' |
Balance | ' | $25 | ' |
Deposits_Schedule_of_Time_Depo
Deposits - Schedule of Time Deposit Maturities (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Maturities Of Time Deposits [Abstract] | ' |
2014 | $78,579 |
2015 | 10,183 |
2016 | 2,428 |
2017 | 7,948 |
2018 | 5,298 |
Total | $104,436 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Time Deposits [Abstract] | ' | ' | ' |
Brokered deposits | $5,000,000 | ' | ' |
Time deposits year of maturity | '2017 | ' | ' |
Maturity description of time deposits | 'Time deposits of $100,000 or more at December 31, 2013 included brokered deposits of $5,000,000, which mature in 2017 | ' | ' |
Deposits held for related parties | 7,511,446 | 8,720,550 | 7,499,805 |
Overdrafts reclassified as loans | $764,262 | $1,435,922 | $679,220 |
Recovered_Sheet2
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase [Abstract] | ' |
Credit facilities to purchase federal funds | $44,000,000 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Borrowing limit from federal reserve bank discount window primary credit program | $32,863,511 | ' | ' |
Borrowing interest base point | 0.25% | ' | ' |
Maturity Period Borrowing Interest Rate | '1 day | ' | ' |
Outstanding Balance | 0 | ' | ' |
Amount Outstanding in advance | 77,684,000 | 7,912,000 | 53,324,000 |
Line of Credit with FHLB | 85,036,571 | ' | ' |
Advance in Amount, One | 5,000,000 | ' | ' |
Margin on the floating rate of interest | 0.43% | ' | ' |
Floating rate of interest on advance | 0.60% | ' | ' |
Fixed rate of interest remaining advances, from | 3.04% | ' | ' |
Fixed rate of interest remaining advances, to | 7.00% | ' | ' |
Maturity Year of Advances | '2014 | ' | ' |
FHLB advances with .20 % interest [Member] | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Additional FHLB advances maturing in next fiscal year | 40,000,000 | ' | ' |
FHLB advances, interest rate | 0.20% | ' | ' |
FHLB advances with .20 % interest [Member] | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Additional FHLB advances maturing in next fiscal year | 10,000,000 | ' | ' |
FHLB advances, interest rate | 0.20% | ' | ' |
FHLB advances with .16 % interest [Member] | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Additional FHLB advances maturing in next fiscal year | $20,000,000 | ' | ' |
FHLB advances, interest rate | 0.16% | ' | ' |
Minimum [Member] | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Maturity dates of fixed rate of interest remaining advances | '2015 | ' | ' |
Maximum [Member] | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' |
Maturity dates of fixed rate of interest remaining advances | '2042 | ' | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Deferred Taxes Included in Other Assets or Other Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Deferred tax assets: | ' | ' | ' |
Allowance for loan losses | $3,037 | $3,011 | $2,777 |
Employee benefit plans' liabilities | 4,326 | 4,135 | 3,846 |
Unrealized loss on available for sale securities, charged from equity | 3,684 | ' | ' |
Earned retiree health benefits plan liability | 1,638 | 1,673 | 1,673 |
Other | 1,218 | 1,170 | 781 |
Deferred tax assets | 13,903 | 9,989 | 9,077 |
Deferred tax liabilities: | ' | ' | ' |
Unrealized gain on available for sale securities, charged to equity | ' | 1,556 | 1,580 |
Unearned retiree health benefits plan asset | 579 | 948 | 1,086 |
Bank premises and equipment | 5,075 | 5,366 | 5,720 |
Other | 129 | 92 | 343 |
Deferred tax liabilities | 5,783 | 7,962 | 8,729 |
Net deferred taxes | $8,120 | $2,027 | $348 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current | ($1,717) | $1,425 | $721 |
Deferred | -484 | -1,517 | -1,925 |
Total income tax benefit | ($2,201) | ($92) | ($1,204) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. Federal income tax rate | -34.00% | 34.00% | 34.00% |
Uncertain Tax Positions | $0 | $0 | $0 |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Federal Income Tax Rate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Taxes computed at statutory rate | ($931) | $867 | ($1) |
Increase (decrease) resulting from: | ' | ' | ' |
Tax-exempt interest income | -539 | -532 | -557 |
Income from BOLI | -170 | -195 | -170 |
Federal tax credits | -298 | -372 | -366 |
Death benefits on life insurance | ' | ' | -159 |
Other | -263 | 140 | 49 |
Total income tax benefit | ($2,201) | ($92) | ($1,204) |
Taxes computed at statutory rate, % | -34.00% | 34.00% | 34.00% |
Tax-exempt interest income, % | -20.00% | -21.00% | ' |
Income from BOLI, % | -6.00% | -8.00% | ' |
Federal tax credits, % | -11.00% | -15.00% | ' |
Other, % | -9.00% | 6.00% | ' |
Total income tax benefit, % | -80.00% | -4.00% | ' |
Shareholders_Equity_Additional
Shareholder's Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended |
Feb. 25, 2009 | Dec. 31, 2013 | |
Equity [Abstract] | ' | ' |
Undistributed earnings of bank subsidiary | ' | $25,428,742 |
Stock repurchased and retired during period percentage | 3.00% | ' |
Retirement of stock, Shares | ' | 47,756 |
Total risk-based capital ratio | ' | 10.00% |
Tier 1 risk-based capital ratio | ' | 6.00% |
Leverage capital ratio | ' | 5.00% |
Shareholders_Equity_Actual_Cap
Shareholder's Equity - Actual Capital Amounts and Ratios and Required Minimum Capital Amounts and Ratios and Capital Amounts and Ratios to be Well Capitalized (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Total Capital (to Risk Weighted Assets) Actual Amount | $111,141 | $112,342 | $110,762 |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 105,009 | 105,728 | 104,116 |
Tier 1 Capital (to Average Assets) Actual Amount | 105,009 | 105,728 | 104,116 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 22.79% | 21.29% | 20.86% |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 21.54% | 20.04% | 19.61% |
Tier 1 Capital (to Average Assets) Actual Ratio | 13.48% | 13.07% | 12.84% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Amount | 39,022 | 42,216 | 42,475 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Amount | 19,511 | 21,108 | 21,238 |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purpose Amount | 31,170 | 32,361 | 32,436 |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Ratio | 8.00% | 8.00% | 8.00% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Ratio | 4.00% | 4.00% | 4.00% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purpose Ratio | 4.00% | 4.00% | 4.00% |
Total Capital (to Risk Weighted Assets) Well Capitalized Ratio | 10.00% | ' | ' |
Tier One Capital to Risk Weighted Assets to Well capitalized Ratio | 6.00% | ' | ' |
Tier One Capital to Average Assets to Well Capitalized Amount | 5.00% | ' | ' |
Subsidiaries [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Total Capital (to Risk Weighted Assets) Actual Amount | 106,870 | 107,885 | 108,149 |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 100,746 | 101,241 | 101,503 |
Tier 1 Capital (to Average Assets) Actual Amount | 100,746 | 101,241 | 101,503 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 21.94% | 20.47% | 20.40% |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 20.69% | 19.22% | 19.15% |
Tier 1 Capital (to Average Assets) Actual Ratio | 13.02% | 12.62% | 12.56% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Amount | 38,968 | 42,148 | 42,413 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Amount | 19,484 | 21,074 | 21,207 |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purpose Amount | 30,958 | 32,086 | 32,332 |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Ratio | 8.00% | 8.00% | 8.00% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purpose Ratio | 4.00% | 4.00% | 4.00% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purpose Ratio | 4.00% | 4.00% | 4.00% |
Total Capital (to Risk Weighted Assets) Well Capitalized Amount | 48,711 | 52,685 | 53,014 |
Tier 1 Capital (to Risk Weighted Assets) Well Capitalized Amount | 29,227 | 31,611 | 31,809 |
Tier 1 Capital (to Average Assets) to Well Capitalized Amount | $38,697 | $40,108 | $40,407 |
Total Capital (to Risk Weighted Assets) Well Capitalized Ratio | 10.00% | 10.00% | 10.00% |
Tier One Capital to Risk Weighted Assets to Well capitalized Ratio | 6.00% | 6.00% | 6.00% |
Tier One Capital to Average Assets to Well Capitalized Amount | 5.00% | 5.00% | 5.00% |
Other_Income_and_Expenses_Othe
Other Income and Expenses - Other Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Income And Expenses [Abstract] | ' | ' | ' |
Other service charges, commissions and fees | $74 | $83 | $78 |
Rentals | 433 | 442 | 392 |
Other | 100 | 142 | 45 |
Totals | $607 | $667 | $515 |
Other_Income_and_Expenses_Othe1
Other Income and Expenses - Other Expenses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Income And Expenses [Abstract] | ' | ' | ' |
Advertising | $596 | $489 | $506 |
Data processing | 1,254 | 1,434 | 858 |
FDIC and state banking assessments | 870 | 503 | 1,688 |
Legal and accounting | 535 | 511 | 600 |
Other real estate | 963 | 648 | 1,350 |
ATM expense | 2,367 | 2,033 | 1,973 |
Trust expense | 332 | 314 | 331 |
Other | 1,876 | 1,813 | 1,709 |
Totals | $8,793 | $7,745 | $9,015 |
Recovered_Sheet3
Financial Instruments with Off-Balance-Sheet Risk - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financial Instruments With Off Balance Sheet Risk [Abstract] | ' | ' | ' |
Outstanding irrevocable letters of credit | $3,059,011 | $3,599,011 | $3,094,258 |
Unused loan commitments amount outstanding | 68,171,024 | 80,741,699 | 76,421,050 |
Fixed rate commitments amount outstanding | $38,324,000 | $46,956,000 | $42,051,000 |
Recovered_Sheet4
Condensed Parent Company Only Financial Information - Condensed Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Investments in subsidiaries, at underlying equity: | ' | ' | ' | ' |
Cash in bank subsidiary | $36,264 | $54,020 | $36,929 | $24,147 |
Other assets | 10,655 | 2,144 | 915 | ' |
Total assets | 762,264 | 804,912 | 804,152 | ' |
Liabilities and Shareholders' Equity: | ' | ' | ' | ' |
Other liabilities | 4,511 | 4,131 | 4,025 | ' |
Total liabilities | 663,117 | 694,158 | 694,700 | ' |
Shareholders' equity | 99,147 | 110,754 | 109,452 | 101,356 |
Total liabilities and shareholders' equity | 762,264 | 804,912 | 804,152 | ' |
Parent Company [Member] | ' | ' | ' | ' |
Investments in subsidiaries, at underlying equity: | ' | ' | ' | ' |
Bank subsidiary | 94,883 | 106,266 | 104,731 | ' |
Nonbank subsidiary | 1 | 1 | 1 | ' |
Cash in bank subsidiary | 487 | 360 | 808 | 957 |
Other assets | 3,937 | 4,288 | 4,588 | ' |
Total assets | 99,308 | 110,915 | 110,128 | ' |
Liabilities and Shareholders' Equity: | ' | ' | ' | ' |
Other liabilities | 161 | 161 | 676 | ' |
Total liabilities | 161 | 161 | 676 | ' |
Shareholders' equity | 99,147 | 110,754 | 109,452 | ' |
Total liabilities and shareholders' equity | $99,308 | $110,915 | $110,128 | ' |
Recovered_Sheet5
Condensed Parent Company Only Financial Information - Condensed Statements of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings of unconsolidated bank subsidiary: | ' | ' | ' |
Loss on impairment of other investments | ' | ($360) | ' |
Other income | 607 | 667 | 515 |
Total non-interest income | 9,067 | 9,529 | 9,860 |
Expenses | ' | ' | ' |
Other | 8,793 | 7,745 | 9,015 |
Total non-interest expense | 25,654 | 25,277 | 28,781 |
Income (loss) before income taxes | -2,739 | 2,549 | -1 |
Income tax benefit | 2,201 | 92 | 1,204 |
Net income (loss) | -538 | 2,641 | 1,203 |
Parent Company [Member] | ' | ' | ' |
Earnings of unconsolidated bank subsidiary: | ' | ' | ' |
Distributed earnings | ' | 1,150 | 898 |
Undistributed earnings (loss) | -494 | 1,845 | 285 |
Loss on impairment of other investments | ' | -360 | ' |
Other income | 57 | -71 | 110 |
Total non-interest income | -437 | 2,564 | 1,293 |
Expenses | ' | ' | ' |
Other | 122 | 105 | 95 |
Total non-interest expense | 122 | 105 | 95 |
Income (loss) before income taxes | -559 | 2,459 | 1,198 |
Income tax benefit | -21 | -182 | -5 |
Net income (loss) | ($538) | $2,641 | $1,203 |
Condensed_Parent_Company_Only_2
Condensed Parent Company Only Financial Information - Condensed Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | ($538) | $2,641 | $1,203 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
(Income) loss on other investments | -42 | 84 | -97 |
Loss on impairment of other investments | ' | 360 | ' |
Other liabilities | -1,122 | -211 | 96 |
Net cash provided by operating activities | 9,487 | 7,825 | 9,793 |
Cash flows from investing activities: | ' | ' | ' |
Net cash provided by (used in) investing activities | 4,922 | 12,305 | -8,059 |
Cash flows from financing activities: | ' | ' | ' |
Retirement of stock | -181 | ' | -193 |
Dividends paid | ' | -1,541 | -925 |
Net cash provided by (used in) financing activities | -32,165 | -3,039 | 11,048 |
Net increase (decrease) in cash | -17,756 | 17,091 | 12,782 |
Cash and cash equivalents, beginning of year | 54,020 | 36,929 | 24,147 |
Cash and cash equivalents, end of year | 36,264 | 54,020 | 36,929 |
Parent Company [Member] | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | -538 | 2,641 | 1,203 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
(Income) loss on other investments | -42 | 84 | -97 |
Loss on impairment of other investments | ' | 360 | ' |
Undistributed (income) loss of unconsolidated subsidiaries | 494 | -1,845 | -285 |
Other assets | 164 | -182 | 54 |
Other liabilities | ' | -1 | ' |
Net cash provided by operating activities | 78 | 1,057 | 875 |
Cash flows from investing activities: | ' | ' | ' |
Redemption of equity securities | 230 | 36 | 93 |
Net cash provided by (used in) investing activities | 230 | 36 | 93 |
Cash flows from financing activities: | ' | ' | ' |
Retirement of stock | -181 | ' | -193 |
Dividends paid | ' | -1,541 | -924 |
Net cash provided by (used in) financing activities | -181 | -1,541 | -1,117 |
Net increase (decrease) in cash | 127 | -448 | -149 |
Cash and cash equivalents, beginning of year | 360 | 808 | 957 |
Cash and cash equivalents, end of year | $487 | $360 | $808 |
Condensed_Parent_Company_Only_3
Condensed Parent Company Only Financial Information - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ' | ' |
Income taxes | $810,000 | $835,000 | $755,000 |
Interest paid | $0 | $0 | $0 |
Recovered_Sheet6
Employee and Director Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 01, 1995 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee | Service and Interest Cost [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Scenario, Forecast [Member] | Postretirement Benefit Plans, Defined Benefit [Member] | Postretirement Benefit Plans, Defined Benefit [Member] | Postretirement Benefit Plans, Defined Benefit [Member] | Net periodic Post-retirement benefit cost [Member] | Net periodic Post-retirement benefit cost [Member] | Net periodic Post-retirement benefit cost [Member] | January1,2014 amendment [Member] | Chief Executive Officer [Member] | Executive Vice President [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Direct [Member] | Direct [Member] | Direct [Member] | Director [Member] | Director [Member] | Director [Member] | ||||
Postretirement Benefit Plans, Defined Benefit [Member] | Postretirement Benefit Plans, Defined Benefit [Member] | Postretirement Benefit Plans, Defined Benefit [Member] | ||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Working Hours service needed for the eligibility of ESOP during a plan year | '1000 hours | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Eligible age of employee for participation in ESOP | '21 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer Matching Contribution Percentage | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of compensation contributed by employees | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total contributions to the plans charged to operating expense | $220,000 | $330,000 | $270,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | 7,594,790 | 7,691,059 | 8,426,829 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ESOP held allocated shares | 359,030 | 383,141 | 429,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Normal retirement benefits percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | 58.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Age limit for receipt of annual directors fees | '65 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on deferred fees accrues | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash surrender value of life insurance | 17,456,000 | 16,861,000 | 16,197,000 | ' | ' | ' | ' | ' | ' | ' | 269,271 | 262,466 | 255,166 | ' | ' | ' | ' | ' | ' | 1,218,175 | 1,105,741 | 997,133 | 15,824,497 | 15,363,241 | 14,833,939 | 138,001 | 129,367 | 118,787 |
Present value of accumulated benefits Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | 5.25% | 6.00% | 4.80% | 4.00% | 4.50% | ' | ' | ' | 4.50% | 5.25% | 5.25% | 4.50% | 5.25% | 5.25% | 4.50% | 5.25% | 5.25% |
Accrual amounted Projected unit cost included in Employee and director benefit plans liabilities | ' | ' | ' | 517,599 | ' | ' | ' | ' | ' | ' | 78,759 | 68,253 | 78,142 | ' | ' | ' | ' | ' | ' | 1,435,554 | 1,328,657 | 1,314,727 | 11,004,738 | 10,572,681 | 9,764,957 | 206,650 | 192,528 | 152,781 |
Social Security normal retirement age | ' | ' | ' | ' | ' | '65 years | ' | '67 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Normal age of attaining voluntary early retirement program | ' | ' | ' | ' | ' | ' | '55 years | ' | '64 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employees service years required for health Insurance | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuous years of service for attaining voluntary early retirement program | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated post-retirement benefit obligation amortization year | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Special termination benefits for the retiree health plan | ' | ' | 459,064 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated post retirement benefit obligation | ' | ' | 3,799,308 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in accumulated post-retirement benefit obligation | 1,150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,150,229 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Age of eligibility to participate in retiree health plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees accepted voluntary early retirement program | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Health Care Cost Trend Rate Assumed For Current Fiscal Year | 7.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Health Care Cost Trend Rate Assumed For Year Five and After | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Increase in Assumed Health care Cost Trend Rate Percentage | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Decrease in Assumed Health care Cost Trend Rate Percentage | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Effect of One Percentage Point Increase on Accumulated Post retirement Benefit Obligation Percentage | 13.26% | ' | ' | ' | 19.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated post-retirement benefit obligation decreased | 10.87% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated post-retirement benefit obligation decreased | ' | ' | ' | ' | 14.91% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Actuarial gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,484 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior service credit | ($1,334,000) | ' | ' | ' | ' | ' | ' | ' | ' | $81,381 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet7
Employee and Director Benefit Plans - Summary of Components of Net Periodic Post-Retirement Benefit Cost (Credit) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postemployment Benefits [Abstract] | ' | ' | ' |
Service cost | $55 | $45 | $293 |
Interest cost | 82 | 72 | 222 |
Amortization of net gain | -2 | -16 | -46 |
Amortization of net transition obligation | ' | ' | 21 |
Amortization of prior service cost (credit) | -183 | -203 | 83 |
Special termination benefit | ' | ' | 459 |
Net periodic post-retirement benefit cost (credit) | ($48) | ($102) | $1,032 |
Employee_and_Director_Benefit_2
Employee and Director Benefit Plans - Schedule of Estimated and Aggregate Benefit Payments for the Next Five Years (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postemployment Benefits [Abstract] | ' |
2014 | $206 |
2015 | 222 |
2016 | 190 |
2017 | 170 |
2018 | 144 |
2019-2023 | $645 |
Employee_and_Director_Benefit_3
Employee and Director Benefit Plans - Reconciliation of Accumulated Post-Retirement Benefit Obligation, Included Other Liabilities (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postemployment Benefits [Abstract] | ' | ' | ' |
Accumulated post-retirement benefit obligation as of December 31, 2012 | $1,906 | ' | ' |
Service cost | 55 | 45 | 293 |
Interest cost | 82 | 72 | 222 |
Actuarial gain | -250 | ' | ' |
Plan changes | 1,150 | ' | ' |
Benefits paid | -90 | -67 | -76 |
Accumulated post-retirement benefit obligation as of December 31, 2013 | $2,853 | $1,906 | ' |
Employee_and_Director_Benefit_4
Employee and Director Benefit Plans - Summary of Change in Plan Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postemployment Benefits [Abstract] | ' | ' | ' |
Fair value of plan assets at beginning of year | ' | ' | ' |
Actual return on assets | ' | ' | ' |
Employer contribution | 90 | 67 | 76 |
Benefits paid, net | -90 | -67 | -76 |
Fair value of plan assets at end of year | ' | ' | ' |
Employee_and_Director_Benefit_5
Employee and Director Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Postemployment Benefits [Abstract] | ' | ' | ' |
Net gain | $288 | $123 | $256 |
Prior service charge | 837 | 1,718 | 1,852 |
Total accumulated other comprehensive income | $1,125 | $1,841 | $2,108 |
Employee_and_Director_Benefit_6
Employee and Director Benefit Plans - Amounts Recognized in the Accumulated Post-Retirement Benefit Obligation and Other Comprehensive Income (Loss) (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postemployment Benefits [Abstract] | ' |
Unrecognized actuarial gain | ($249) |
Amortization of prior service cost | 1,334 |
Total accumulated other comprehensive loss | $1,085 |
Recovered_Sheet8
Fair Value Measurements and Disclosures - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Minimum current appraisal is more than one year old and/or the loan balance | $200,000 |
Percentage of time deposits provide for automatic renewal at current interest rates | 98.00% |
Recovered_Sheet9
Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | $275,440 | $258,876 | $278,918 |
U.S. Treasuries [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 43,648 | 54,096 | 54,010 |
U.S. Government agencies [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 145,805 | 149,098 | 179,180 |
Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 50,326 | 17,441 | 5,001 |
States and political subdivisions [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 35,011 | 37,591 | 40,077 |
Equity securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 650 | 650 | 650 |
Level 1 [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 1 [Member] | U.S. Treasuries [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 1 [Member] | U.S. Government agencies [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 1 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 1 [Member] | States and political subdivisions [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 1 [Member] | Equity securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 275,440 | 258,876 | 278,918 |
Level 2 [Member] | U.S. Treasuries [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 43,648 | 54,096 | 54,010 |
Level 2 [Member] | U.S. Government agencies [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 145,805 | 149,098 | 179,180 |
Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 50,326 | 17,441 | 5,001 |
Level 2 [Member] | States and political subdivisions [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 35,011 | 37,591 | 40,077 |
Level 2 [Member] | Equity securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | 650 | 650 | 650 |
Level 3 [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 3 [Member] | U.S. Treasuries [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 3 [Member] | U.S. Government agencies [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 3 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 3 [Member] | States and political subdivisions [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Level 3 [Member] | Equity securities [Member] | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis [Abstract] | ' | ' | ' |
Available for sale securities | ' | ' | ' |
Fair_Value_Measurements_and_Di2
Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Non-Recurring Basis of Impairment Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value measured on non-recurring basis, impaired loans | $18,831 | $16,030 | $15,202 | ' |
Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value measured on non-recurring basis, impaired loans | ' | ' | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value measured on non-recurring basis, impaired loans | ' | ' | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value measured on non-recurring basis, impaired loans | $18,831 | $16,030 | $15,202 | $2,136 |
Fair_Value_Measurements_and_Di3
Fair Value Measurements and Disclosures - Changes in Fair Value of Impaired Loans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance, end of year | $18,831 | $16,030 | $15,202 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance, beginning of year | 16,030 | 15,202 | 2,136 |
Additions to impaired loans and troubled debt restructurings | 17,424 | 2,960 | 17,101 |
Principal payments, charge-offs and transfers to other real estate | -15,153 | -2,086 | -1,447 |
Change in allowance for loan losses on impaired loans | 530 | -46 | -2,588 |
Balance, end of year | $18,831 | $16,030 | $15,202 |
Fair_Value_Measurements_and_Di4
Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Non-Recurring Basis of Other Real Estate (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Assets measured at fair value on a non-recurring basis, other real estate | $9,630 | $7,008 | $6,153 | ' |
Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Assets measured at fair value on a non-recurring basis, other real estate | ' | ' | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Assets measured at fair value on a non-recurring basis, other real estate | ' | ' | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Assets measured at fair value on a non-recurring basis, other real estate | $9,630 | $7,008 | $6,153 | $5,744 |
Fair_Value_Measurements_and_Di5
Fair Value Measurements and Disclosures - Changes in Fair Value of Other Real Estate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance, end of year | $9,630 | $7,008 | $6,153 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance, beginning of year | 7,008 | 6,153 | 5,744 |
Loans transferred to ORE | 4,537 | 2,576 | 3,221 |
Sales | -1,188 | -1,568 | -2,101 |
Writedowns | -670 | -153 | -711 |
Insurance proceeds from casualty loss | -57 | ' | ' |
Balance, end of year | $9,630 | $7,008 | $6,153 |
Fair_Value_Measurements_and_Di6
Fair Value Measurements and Disclosures - Carrying Value and Estimated Fair Value of Financial Assets and Financial Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Financial Assets: | ' | ' | ' | ' |
Cash and due from banks | $36,264,000 | $54,020,000 | $36,929,000 | $24,147,000 |
Cash and due from banks, Fair Value | 36,264,000 | 54,020,000 | 36,929,000 | ' |
Available for sale securities | 275,440,000 | 258,876,000 | 278,918,000 | ' |
Held to maturity securities | 11,142,000 | 7,125,000 | 1,429,000 | ' |
Held to maturity securities, Fair Value | 10,686,000 | 7,225,000 | 1,492,000 | ' |
Other investments | 3,262,000 | 3,450,000 | 3,930,000 | ' |
Other investments, Fair Value | 3,262,000 | 3,450,000 | 3,930,000 | ' |
Federal Home Loan Bank stock | 3,834,000 | 2,380,000 | 2,581,000 | ' |
Federal Home Loan Bank stock, Fair Value | 3,834,000 | 2,380,000 | 2,581,000 | ' |
Loans, net | 366,415,000 | 422,226,000 | 424,271,000 | ' |
Loans, net, Fair Value | 369,117,000 | 425,627,000 | 427,881,000 | ' |
Other real estate | 9,630,000 | 7,008,000 | 6,153,000 | ' |
Other real estate, Fair Value | 9,630,000 | 7,008,000 | 6,153,000 | ' |
Cash surrender value of life insurance | 17,456,000 | 16,861,000 | 16,197,000 | ' |
Cash surrender value of life insurance, Fair Value | 17,456,000 | 16,861,000 | 16,197,000 | ' |
Deposits: | ' | ' | ' | ' |
Non-interest bearing | 107,117,000 | 102,609,000 | 97,581,000 | ' |
Non-interest bearing, Fair Value | 107,117,000 | 102,609,000 | 97,581,000 | ' |
Interest bearing, Fair Value | 322,535,000 | 376,209,000 | 372,019,000 | ' |
Federal funds purchased and securities sold under agreements to repurchase | 139,639,000 | 194,234,000 | 157,601,000 | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 139,639,000 | 194,234,000 | 157,601,000 | ' |
Borrowings from Federal Home Loan Bank | 79,051,000 | 10,271,000 | 55,014,000 | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from banks | 36,264,000 | 54,020,000 | 36,929,000 | ' |
Available for sale securities | 275,440,000 | 258,876,000 | 278,918,000 | ' |
Held to maturity securities | 11,142,000 | 7,125,000 | 1,429,000 | ' |
Other investments | 3,262,000 | 3,450,000 | 3,930,000 | ' |
Federal Home Loan Bank stock | 3,834,000 | 2,380,000 | 2,581,000 | ' |
Loans, net | 366,415,000 | 422,226,000 | 424,271,000 | ' |
Other real estate | 9,630,000 | 7,008,000 | 6,153,000 | ' |
Cash surrender value of life insurance | 17,456,000 | 16,861,000 | 16,197,000 | ' |
Deposits: | ' | ' | ' | ' |
Non-interest bearing | 107,117,000 | 102,609,000 | 97,581,000 | ' |
Interest bearing | 321,441,000 | 373,110,000 | 370,858,000 | ' |
Federal funds purchased and securities sold under agreements to repurchase | 139,639,000 | 194,234,000 | 157,601,000 | ' |
Borrowings from Federal Home Loan Bank | 77,684,000 | 7,912,000 | 53,324,000 | ' |
Level 1 [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from banks, Fair Value | 36,264,000 | 54,020,000 | 36,929,000 | ' |
Available for sale securities | ' | ' | ' | ' |
Held to maturity securities, Fair Value | ' | ' | ' | ' |
Other investments, Fair Value | 3,262,000 | 3,450,000 | 3,930,000 | ' |
Federal Home Loan Bank stock, Fair Value | ' | ' | ' | ' |
Loans, net, Fair Value | ' | ' | ' | ' |
Other real estate | ' | ' | ' | ' |
Other real estate, Fair Value | ' | ' | ' | ' |
Cash surrender value of life insurance, Fair Value | ' | ' | ' | ' |
Deposits: | ' | ' | ' | ' |
Non-interest bearing, Fair Value | 107,117,000 | 102,609,000 | 97,581,000 | ' |
Interest bearing, Fair Value | ' | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | 139,639,000 | 194,234,000 | 157,601,000 | ' |
Borrowings from Federal Home Loan Bank | ' | ' | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from banks, Fair Value | ' | ' | ' | ' |
Available for sale securities | 275,440,000 | 258,876,000 | 278,918,000 | ' |
Held to maturity securities, Fair Value | 10,686,000 | 7,225,000 | 1,492,000 | ' |
Other investments, Fair Value | ' | ' | ' | ' |
Federal Home Loan Bank stock, Fair Value | 3,834,000 | 2,380,000 | 2,581,000 | ' |
Loans, net, Fair Value | ' | ' | ' | ' |
Other real estate | ' | ' | ' | ' |
Other real estate, Fair Value | ' | ' | ' | ' |
Cash surrender value of life insurance, Fair Value | ' | ' | ' | ' |
Deposits: | ' | ' | ' | ' |
Non-interest bearing, Fair Value | ' | ' | ' | ' |
Interest bearing, Fair Value | ' | ' | ' | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | ' | ' | ' | ' |
Borrowings from Federal Home Loan Bank | 79,051,000 | 10,271,000 | 55,014,000 | ' |
Level 3 [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from banks, Fair Value | ' | ' | ' | ' |
Available for sale securities | ' | ' | ' | ' |
Held to maturity securities, Fair Value | ' | ' | ' | ' |
Other investments, Fair Value | ' | ' | ' | ' |
Federal Home Loan Bank stock, Fair Value | ' | ' | ' | ' |
Loans, net, Fair Value | 369,117,000 | 425,627,000 | 427,881,000 | ' |
Other real estate | 9,630,000 | 7,008,000 | 6,153,000 | 5,744,000 |
Other real estate, Fair Value | 9,630,000 | 7,008,000 | 6,153,000 | ' |
Cash surrender value of life insurance, Fair Value | 17,456,000 | 16,861,000 | 16,197,000 | ' |
Deposits: | ' | ' | ' | ' |
Non-interest bearing, Fair Value | ' | ' | ' | ' |
Interest bearing, Fair Value | 322,535,000 | 376,209,000 | 372,019,000 | ' |
Federal funds purchased and securities sold under agreements to repurchase, Fair Value | ' | ' | ' | ' |
Borrowings from Federal Home Loan Bank | ' | ' | ' | ' |