Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 27, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | Codorus Valley Bancorp Inc | |
Entity Filer Category | Accelerated Filer | |
Entity Central Index Key | 806,279 | |
Amendment Flag | false | |
Document Type | 10-Q | |
Document Fiscal Period Focus | Q3 | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 8,380,855 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Interest bearing deposits with banks | $ 32,945 | $ 44,496 |
Cash and due from banks | 13,190 | 12,989 |
Total cash and cash equivalents | 46,135 | 57,485 |
Securities, available-for-sale | 200,373 | 213,470 |
Restricted investment in bank stocks, at cost | 4,526 | 5,028 |
Loans held for sale | 3,318 | 564 |
Loans (net of deferred fees of $3,261 - 2016 and $2,701 - 2015) | 1,207,842 | 1,123,211 |
Less-allowance for loan losses | (14,225) | (12,704) |
Net loans | 1,193,617 | 1,110,507 |
Premises and equipment, net | 24,616 | 24,606 |
Goodwill | 2,301 | 2,301 |
Other assets | 48,095 | 42,373 |
Total assets | 1,522,981 | 1,456,334 |
Deposits | ||
Noninterest bearing | 187,455 | 162,982 |
Interest bearing | 1,034,640 | 931,167 |
Total deposits | 1,222,095 | 1,094,149 |
Short-term borrowings | 31,061 | 74,510 |
Long-term debt | 105,310 | 120,310 |
Other liabilities | 9,198 | 8,224 |
Total liabilities | 1,367,664 | 1,297,193 |
Shareholders' equity | ||
Preferred stock, par value $2.50 per share; $1,000 liquidation preference, 1,000,000 shares authorized; Series B shares issued and outstanding: 0 at September 30, 2016 and 12,000 at December 31, 2015 | 0 | 12,000 |
Common stock, par value $2.50 per share; 15,000,000 shares authorized; shares issued: 8,382,573 at September 30, 2016 and 7,957,145 at December 31, 2015; and shares outstanding: 8,380,855 at September 30, 2016 and 7,957,145 at December 31, 2015 | 20,957 | 19,893 |
Additional paid-in capital | 105,745 | 97,338 |
Retained earnings | 26,104 | 28,539 |
Accumulated other comprehensive income | 2,515 | 1,371 |
Treasury stock, at cost; 1,718 shares at September 30, 2016 | (4) | 0 |
Total shareholders' equity | 155,317 | 159,141 |
Total liabilities and shareholders' equity | $ 1,522,981 | $ 1,456,334 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Loans, deferred fees | $ 3,261 | $ 2,701 |
Shareholders' equity | ||
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 8,382,573 | 7,957,145 |
Common stock, shares outstanding | 8,380,855 | 7,957,145 |
Treasury stock, at cost, shares | 1,718 | |
Series B Preferred Stock [Member] | ||
Shareholders' equity | ||
Preferred stock, par value | $ 2.50 | $ 2.50 |
Preferred stock, liquidation preference | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 12,000 |
Preferred stock, shares outstanding | 0 | 12,000 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income | ||||
Loans, including fees | $ 14,540 | $ 12,868 | $ 42,572 | $ 37,735 |
Investment securities: | ||||
Taxable | 579 | 738 | 1,883 | 2,280 |
Tax-exempt | 383 | 412 | 1,228 | 1,256 |
Dividends | 61 | 64 | 183 | 270 |
Other | 97 | 35 | 131 | 68 |
Total interest income | 15,660 | 14,117 | 45,997 | 41,609 |
Interest expense | ||||
Deposits | 1,757 | 1,564 | 4,875 | 4,755 |
Federal funds purchased and other short-term borrowings | 34 | 47 | 116 | 126 |
Long-term debt | 454 | 484 | 1,427 | 1,199 |
Total interest expense | 2,245 | 2,095 | 6,418 | 6,080 |
Net interest income | 13,415 | 12,022 | 39,579 | 35,529 |
Provision for loan losses | 800 | 500 | 2,400 | 2,300 |
Net interest income after provision for loan losses | 12,615 | 11,522 | 37,179 | 33,229 |
Noninterest income | ||||
Trust and investment services fees | 654 | 604 | 1,892 | 1,809 |
Income from mutual fund, annuity and insurance sales | 240 | 265 | 735 | 580 |
Service charges on deposit accounts | 957 | 882 | 2,695 | 2,514 |
Income from bank owned life insurance | 233 | 179 | 631 | 523 |
Other income | 224 | 110 | 642 | 426 |
Gain on sales of loans held for sale | 262 | 181 | 612 | 489 |
Gain on sales of securities | 0 | 121 | 194 | 492 |
Total noninterest income | 2,570 | 2,342 | 7,401 | 6,833 |
Noninterest expense | ||||
Personnel | 5,990 | 5,367 | 17,988 | 15,520 |
Occupancy of premises, net | 780 | 811 | 2,501 | 2,395 |
Furniture and equipment | 728 | 664 | 2,160 | 2,014 |
Postage, stationery and supplies | 147 | 153 | 524 | 505 |
Professional and legal | 185 | 198 | 515 | 618 |
Marketing | 437 | 242 | 1,275 | 931 |
FDIC insurance | 121 | 177 | 467 | 526 |
Debit card processing | 291 | 235 | 853 | 657 |
Charitable donations | 116 | 21 | 884 | 763 |
Telephone | 187 | 208 | 513 | 527 |
External data processing | 385 | 306 | 1,067 | 850 |
Merger related | 0 | 0 | 0 | 474 |
Foreclosed real estate including (recovery of) provision for losses | (13) | 66 | 122 | 215 |
Other | 868 | 1,062 | 2,224 | 2,072 |
Total noninterest expense | 10,222 | 9,510 | 31,093 | 28,067 |
Income before income taxes | 4,963 | 4,354 | 13,487 | 11,995 |
Provision for income taxes | 1,560 | 1,343 | 4,227 | 3,630 |
Net income | 3,403 | 3,011 | 9,260 | 8,365 |
Preferred stock dividends | 0 | 30 | 16 | 90 |
Net income available to common shareholders | $ 3,403 | $ 2,981 | $ 9,244 | $ 8,275 |
Net income per common share, basic | $ 0.41 | $ 0.46 | $ 1.10 | $ 1.28 |
Net income per common share, diluted | $ 0.40 | $ 0.45 | $ 1.09 | $ 1.27 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||||
Net income | $ 3,403 | $ 3,011 | $ 9,260 | $ 8,365 | |
Securities available for sale: | |||||
Net unrealized holding gains (losses) arising during the period (net of tax expense (benefit)) | (347) | 521 | 1,272 | 84 | |
Reclassification adjustment for (gains) included in net income (net of tax expense) | [1],[2] | 0 | (80) | (128) | (325) |
Net unrealized gains (losses) | (347) | 441 | 1,144 | (241) | |
Comprehensive income | $ 3,056 | $ 3,452 | $ 10,404 | $ 8,124 | |
[1] | Amounts are included in net gain on sales of securities on the Consolidated Statements of Income within noninterest income. | ||||
[2] | Income tax amounts are included in provision for income taxes on the Consolidated Statements of Income. |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Securities available for sale: | ||||
Net unrealized holding gains (losses) arising during the period, tax expense (benefit) | $ (179) | $ 268 | $ 655 | $ 43 |
Reclassification adjustment for (gains) included in net income, tax expense | $ 0 | $ 41 | $ 66 | $ 167 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities | ||
Net income | $ 9,260 | $ 8,365 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation/amortization | 1,762 | 1,693 |
Net amortization of premiums on securities | 685 | 784 |
Amortization of deferred loan origination fees and costs | (771) | (630) |
Provision for loan losses | 2,400 | 2,300 |
(Reversal of) provision for losses on foreclosed real estate | (31) | 57 |
Increase in bank owned life insurance | (631) | (523) |
Originations of loans held for sale | (31,369) | (23,508) |
Proceeds from sales of loans held for sale | 29,010 | 23,853 |
Gain on sales of loans held for sale | (612) | (489) |
(Gain) loss on disposal of premises and equipment | (2) | 60 |
Gain on sales of securities, available-for-sale | (194) | (492) |
(Gain) loss on sales of foreclosed real estate | (19) | 19 |
Stock-based compensation | 391 | 229 |
Decrease in interest receivable | 389 | 0 |
Increase in other assets | 888 | 249 |
Increase in interest payable | 0 | 9 |
Increase (decrease) in other liabilities | 1,018 | (1,311) |
Net cash provided by operating activities | 12,174 | 10,665 |
Cash flows from investing activities | ||
Purchases of securities, available-for-sale | (37,901) | (40,613) |
Maturities, repayments and calls of securities, available-for-sale | 39,337 | 35,390 |
Sales of securities, available-for-sale | 12,903 | 9,615 |
Net decrease (increase) in restricted investment in bank stock | 502 | (1,229) |
Net proceeds from acquisition | 0 | 21,091 |
Proceeds from acquired receivables of sold investment settlements | 0 | 15,256 |
Net increase in loans made to customers | (84,989) | (58,824) |
Purchases of premises and equipment | (1,770) | (3,544) |
Investment in bank owned life insurance | (6,994) | (7) |
Proceeds from sale of fixed assets | 0 | 51 |
Proceeds from sales of foreclosed real estate | 540 | 238 |
Net cash used in investing activities | (78,372) | (22,576) |
Cash flows from financing activities | ||
Net increase in demand and savings deposits | 102,379 | 74,993 |
Net increase (decrease) in time deposits | 25,567 | (55,868) |
Net (decrease) increase in short-term borrowings | (43,449) | 5,145 |
Proceeds from issuance of long-term debt | 0 | 35,000 |
Repayment of long-term debt | (15,000) | (5,071) |
Cash dividends paid to preferred shareholder | (46) | (90) |
Cash dividends paid to common shareholders | (3,106) | (2,225) |
Redemption of preferred stock | (12,000) | 0 |
Issuance of common stock | 503 | 966 |
Net cash provided by financing activities | 54,848 | 52,850 |
Net (decrease) increase in cash and cash equivalents | (11,350) | 40,939 |
Cash and cash equivalents at beginning of year | 57,485 | 31,094 |
Cash and cash equivalents at end of period | $ 46,135 | $ 72,033 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2014 | $ 12,000 | $ 14,577 | $ 62,713 | $ 26,483 | $ 2,667 | $ 0 | $ 118,440 |
Net income | 8,365 | 8,365 | |||||
Other comprehensive income (loss), net of tax | (241) | (241) | |||||
Common stock cash dividends | (2,225) | (2,225) | |||||
5% Common stock dividend | 736 | 5,228 | (5,964) | 0 | |||
Preferred stock cash dividends | (90) | (90) | |||||
Stock-based compensation including related tax benefit | 229 | 229 | |||||
Forfeiture of restricted stock | 8 | (8) | 0 | ||||
Issuance and reissuance of common stock including related tax benefit: | |||||||
Issuance of common stock shares under the dividend reinvestment and stock purchase plan | 37 | 499 | 536 | ||||
Issuance of common stock shares under the stock option plan | 103 | 264 | 8 | 375 | |||
Issuance of common stock shares under employee stock purchase plan | 8 | 47 | 55 | ||||
Balance at Sep. 30, 2015 | 12,000 | 15,461 | 68,988 | 26,569 | 2,426 | 0 | 125,444 |
Balance at Dec. 31, 2015 | 12,000 | 19,893 | 97,338 | 28,539 | 1,371 | 0 | 159,141 |
Net income | 9,260 | 9,260 | |||||
Other comprehensive income (loss), net of tax | 1,144 | 1,144 | |||||
Common stock cash dividends | (3,106) | (3,106) | |||||
5% Common stock dividend | 998 | 7,575 | (8,573) | 0 | |||
Preferred stock cash dividends | (16) | (16) | |||||
Redemption of preferred stock | (12,000) | (12,000) | |||||
Stock-based compensation including related tax benefit | 391 | 391 | |||||
Forfeiture of restricted stock | 8 | (8) | 0 | ||||
Issuance and reissuance of common stock including related tax benefit: | |||||||
Issuance of common stock shares under the dividend reinvestment and stock purchase plan | 37 | 282 | 2 | 321 | |||
Issuance of common stock shares under the stock option plan | 12 | 90 | 2 | 104 | |||
Issuance of common stock shares of stock-based compensation awards | 6 | (6) | 0 | ||||
Issuance of common stock shares under employee stock purchase plan | 11 | 67 | 78 | ||||
Balance at Sep. 30, 2016 | $ 0 | $ 20,957 | $ 105,745 | $ 26,104 | $ 2,515 | $ (4) | $ 155,317 |
Consolidated Statements Of Cha9
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Common stock cash dividends, per share, adjusted | $ 0.371 | $ 0.345 |
Common stock dividend, shares at fair value | 399,088 | 294,507 |
Issuance and reissuance of common stock including related tax benefit: | ||
Shares under the dividend reinvestment and stock purchase plan | 15,425 | 14,756 |
Shares under the stock option plan | 5,621 | 41,207 |
Shares of stock-based compensation awards | 2,421 | |
Shares under employee stock purchase plan | 4,447 | 3,361 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Note 1—Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation The accompanying consolidated balance sheet at December 31, 2015 has been derived from audited financial statements, and the unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q, and FASB Accounting Standards Codification (ASC) 270. Accordingly, the interim financial statements do not include all of the financial information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements include all adjustments necessary to present fairly the financial condition and results of operations for the reported periods, and all such adjustments are of a normal and recurring nature. Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates two wholly-owned subsidiaries, Codorus Valley Financial Advisors, Inc., which sells nondeposit investment products, and SYC Settlement Services, Inc., which provides real estate settlement services. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and two wholly-owned nonbank subsidiaries, SYC Realty Company, Inc. and CVLY Corp. SYC Realty is primarily used to hold foreclosed properties obtained by PeoplesBank and was inactive during the period ended September 30, 2016 . CVLY Corp. was formed to facilitate the acquisition of Madison Bancorp, Inc. (“Madison”) and may be used, as needed, for the financial and legal management of future acquisition transactions. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8—Short-Term Borrowings and Long-Term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. These consolidated statements should be read in con j unction with the notes to the audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 . The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for the full year. In accordance with FASB ASC 855, the Corporation evaluated the events and transactions that occurred after the balance sheet date of September 30, 2016 and through the date these consolidated financial statements were issued, for items of potential recognition or disclosure. Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A past due loan may remain on accrual status if it is in the process of collection and well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, nonaccrual loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. For acquired loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loan are a component of the initial fair value and amortized over the life of the asset. Subsequent to the acquisition date, the methods used to estimate the required allowance for loan losses on these loans is similar to originated loans. However, the Corporation records a provision for loan losses only when the required allowance for loan losses exceeds any remaining credit discount. The remaining differences between the acquisition date fair value and the unpaid principal balance at the date of acquisition are recorded in interest income over the life of the loan. Acquired loans that have evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Corporation will be unable to collect all contractually required payments are accounted for as impaired loans under ASC 310-30. The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable discount. The non-accretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require the Corporation to evaluate the need for an allowance for loan losses on these loans. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the non-accretable discount which the Corporation then reclassifies as an accretable discount that is recognized into interest income over the remaining life of the loans using the interest method. The following is a summary of acquired impaired loans from the merger, as discussed in Note 2-Merger with Madison Bancorp, Inc.: (dollars in thousands) January 16, 2015 Contractually required principal and interest at acquisition $ 1,961 Contractual cash flows not expected to be collected 1,185 Expected cash flows at acquisition 776 Interest component of expected cash flows 160 Basis in acquired loans at acquisition - estimated fair value $ 616 Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered by management to be adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired, generally substandard and nonaccrual loans. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class, including commercial loans not considered impaired, as well as smaller balance homogeneous loans such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in national and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors The unallocated component is maintained to cover uncertainties that could affect the Corporation’s estimate of probable losses . For example, increasing credit risks and uncertainties, not yet reflected in current leading indicators, associated with prolonged low economic growth, or recessionary business conditions for certain industries or the broad economy, or the erosion of real estate values, represent risk factors, the occurrence of any or all of which can adversely affect a borrowers’ ability to service their loans. The unallocated component of the allowance also reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the loan portfolio, including the unpredictable timing and amounts of charge-offs and related historical loss averages, and specific-credit or broader portfolio future cash flow value and collateral valuation uncertainties which could negatively impact unimpaired portfolio loss factors. As disclosed in Note 5—Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions or private equity companies. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral, which could render the Corporation under-secured or unsecured. In addition, economic and housing market conditions can adversely affect the ability of borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Banking regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses and may require the Corporation to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to the Corporation. Based on an analysis of the loan portfolio, the Corporation believes that the level of the allowance for loan losses at September 30, 2016 is adequate. Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in-substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a write-down. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At September 30, 2016 , foreclosed real estate, net of allowance, was $2,674,000 , compared to $2,913,000 at December 31, 2015 . Included within loans receivable as of September 30, 2016 was a recorded investment of $230,000 of consumer mortgage loans secured by residential real estate, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At September 30, 2016, the MSR asset was $ 209,000 , net of a valuation allowance of $ 3,000 . There were no mortgage servicing assets as of December 31, 2015. Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2016. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At September 30, 2016 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. Per Common Share Data All per share computations include the effect of stock dividends declared, including a 5 percent common stock dividend declared October 11, 2016. The computation of net income per common share is provided in the table below. Three months ended Nine months ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 3,403 $ 2,981 $ 9,244 $ 8,275 Weighted average shares outstanding (basic) 8,378 6,491 8,367 6,464 Effect of dilutive stock options 70 63 68 72 Weighted average shares outstanding (diluted) 8,448 6,554 8,435 6,536 Basic earnings per common share $ 0.41 $ 0.46 $ 1.10 $ 1.28 Diluted earnings per common share $ 0.40 $ 0.45 $ 1.09 $ 1.27 Anti-dilutive stock options excluded from the computation of earnings per share 57 32 69 33 Comprehensive Income Accounting principles generally accepted in the United States require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Nine months ended September 30, (dollars in thousands) 2016 2015 Cash paid during the period for: Income taxes $ 2,729 $ 4,100 Interest $ 6,418 $ 6,071 Noncash investing activities: Transfer of loans to foreclosed real estate $ 251 $ 41 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,157 Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. This standard clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows to reduce diversity in practice. This standard contains guidance clarifying when an entity should separate cash receipts and cash payments and classify them into more than one class of cash flows (including when reasonable judgment is required to estimate and allocate cash flows) versus when an entity should classify the aggregate amount into one class of cash flows on the basis of predominance. The new standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the expected credit loss (CECL) model. The CECL model calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718). This standard introduces amendments intended to simplify the accounting for stock compensation. Specifically, the ASU requires all excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) to be recognized as income tax expense or benefit in the income statement. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee's perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for lessees. From the lessor's perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, an operating lease results. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This standards update provides a framework that replaces most existing revenue recognition guidance. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with earlier adoption permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. |
Merger With Madison Bancorp, In
Merger With Madison Bancorp, Inc. | 9 Months Ended |
Sep. 30, 2016 | |
Merger With Madison Bancorp, Inc. [Abstract] | |
Merger With Madison Bancorp, Inc. | Note 2-Merger w ith Madison Bancorp, Inc. On July 22, 2014 , the Corporation entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Madison Bancorp, Inc., a Maryland corporation (“Madison”), and CVLY Corp., a Pennsylvania corporation and wholly-owned subsidiary of the Corporation (“Acquisition Subsidiary”). Pursuant to the Merger Agreement, Madison agreed to cause its wholly-owned subsidiary, Madison Square Federal Savings Bank (“MSFSB”), to merge with and into the Corporation’s wholly-owned bank subsidiary, PeoplesBank, with PeoplesBank being the surviving bank in the Bank Merger. The acquisition of Madison and MSFSB was completed on January 16, 2015 , as reported on a Form 8-K filed on the same date. Pursuant to the Merger Agreement, each share of Madison common stock was converted into the right to receive $22.90 in cash, without interest, and each outstanding option to purchase Madison common stock was converted into the right to receive cash based on a formula set forth in the Merger Agreement. Total consideration paid was $14,425,000 , which included the purchase of 608,116 shares of Madison common stock as well as the cash out of 41,270 options to purchase Madison common stock with an average exercise price of $10.81 per share. The merger was accounted for using acquisition accounting, which requires the Corporation to allocate total consideration transferred to the assets acquired and liabilities assumed, based on their respective fair value at the merger date, with any remaining excess consideration being recorded as goodwill. The table below presents the detail of the total acquisition cost as well as a summary of the assets acquired and liabilities assumed recorded at their estimated fair value, as of the January 16, 2015 acquisition date. (in thousands, except per share data) January 16, 2015 Cash paid for outstanding shares of Madison common stock and outstanding options $ 14,425 Assets Acquired: Cash and due from banks $ 35,516 Securities, available for sale 1,396 Loans 77,228 Premises and equipment 2,601 Other assets 17,567 Total assets acquired 134,308 Liabilities Assumed: Deposits 120,545 Other liabilities 1,639 Total liabilities assumed 122,184 Net goodwill resulting from merger $ 2,301 The fair value of total assets acquired as a result of the merger totaled $134,308,000 , which included $1,396,000 of securities which were subsequently sold in the first quarter of 2015. Additionally, other assets of $17,567,000 included $15,256,000 of receivables related to investment securities sold prior to the merger, pending receipt of sales proceeds, which were subsequently collected. The transaction also resulted in a core deposit intangible of $39,000 and goodwill of $2,301,000 . Goodwill arising from the acquisition consists largely of synergies and the cost savings expected to result from the combining of operations and is not expected to be deductible for income tax purposes. The following table presents unaudited pro forma information as if the merger between PeoplesBank and MSFSB had been completed on January 1, 2014. The pro forma information does not necessarily reflect the results of operations that would have occurred had MSFSB merged with PeoplesBank at the beginning of 2014. The pro forma financial information does not include the impact of possible business model changes, nor does it consider any potential impacts of current market conditions or revenues, cost savings, or other factors. Pro forma for the year ended (in thousands, except per share data) December 31, 2014 Net interest income $ 44,598 Noninterest income 8,246 Net income available to common shareholders 10,972 Pro forma earnings per share, adjusted: Basic $ 1.78 Diluted $ 1.74 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2016 | |
Securities [Abstract] | |
Securities | Note 3-Securities A summary of securities available-for-sale at September 30, 2016 and December 31, 201 5 is provided below. The securities available-for-sale portfolio is generally comprised of high quality debt instruments, principally obligations of the United States government or agencies thereof and investments in the obligations of states and municipalities. The majority of municipal bonds in the portfolio are general obligation bonds, which can draw upon multiple sources of revenue, including taxes, for payment. Only a few bonds are revenue bonds, which are dependent upon a single revenue stream for payment, but they are for critical services such as water and sewer. In many cases, municipal debt issues are insured or, in the case of school districts of selected states, backed by specific loss reserves. At September 30, 2016 , the fair value of the municipal bond portfoli o was concentrated in the state of Pennsylvania at 71 percent. Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value September 30, 2016 Debt securities: U.S. Treasury notes $ 9,960 $ 25 $ (48) $ 9,937 U.S. agency 21,054 10 (32) $ 21,032 U.S. agency mortgage-backed, residential 97,368 2,785 0 100,153 State and municipal 68,181 1,077 (7) 69,251 Total debt securities $ 196,563 $ 3,897 $ (87) $ 200,373 December 31, 2015 Debt securities: U.S. agency $ 17,554 $ 0 $ (140) $ 17,414 U.S. agency mortgage-backed, residential 119,266 1,472 (157) 120,581 State and municipal 74,573 937 (35) 75,475 Total debt securities $ 211,393 $ 2,409 $ (332) $ 213,470 The amortized cost and estimated fair value of debt securities at September 30, 2016 by contractual maturity are shown below. Actual maturities may differ from contractual maturities if call options on select debt issues are exercised in the future. Mortgage-backed securities are included in the maturity categories based on average expected life. Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 19,341 $ 19,412 Due after one year through five years 126,514 129,658 Due after five years through ten years 44,364 44,749 Due after ten years 6,344 6,554 Total debt securities $ 196,563 $ 200,373 Gross realized gains and losses on sales of securities available-for-sale are shown below. Realized gains and losses are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the income statement. Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2016 2015 2016 2015 Realized gains $ 0 $ 121 $ 194 $ 492 Realized losses 0 0 0 0 Net gains $ 0 $ 121 $ 194 $ 492 Securities, issued by agencies of the federal government, with a carrying value of $162,501,000 and $186,09 7,000 on September 30, 2016 and December 31, 201 5 , respectively, were pledged to secure public and trust deposits, repurchase agreements and other short-term borrowings. The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time, for securities that have been in a continuous unrealized loss position, at September 30, 2016 and December 31, 201 5 . Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses September 30, 2016 Debt securities: U.S. Treasury notes 1 $ 4,952 $ (48) 0 $ 0 $ 0 1 $ 4,952 $ (48) U.S. agency 2 9,968 (32) 0 0 0 2 9,968 $ (32) State and municipal 13 5,903 (4) 1 503 (3) 14 6,406 $ (7) Total temporarily impaired debt securities, available-for-sale 16 $ 20,823 $ (84) 1 $ 503 $ (3) 17 $ 21,326 $ (87) December 31, 2015 Debt securities: U.S. agency 6 $ 17,414 $ (140) 0 $ 0 $ 0 6 $ 17,414 $ (140) U.S. agency mortgage-backed, residential 8 18,991 (157) 0 0 0 8 18,991 (157) State and municipal 27 11,272 (26) 4 1,886 (9) 31 13,158 (35) Total temporarily impaired debt securities, available-for-sale 41 $ 47,677 $ (323) 4 $ 1,886 $ (9) 45 $ 49,563 $ (332) Securities available-for-sale are analyzed quarterly for possible other-than-temporary impairment. The analysis considers, among other factors: 1) whether the Corporation has the intent to sell its securities prior to market recovery or maturity; 2) whether it is more likely than not that the Corporation will be required to sell its securities prior to market recovery or maturity; 3) default rates/history by security type; 4) third-party securities ratings; 5) third-party guarantees; 6) subordination; 7) payment delinquencies; 8) nature of the issuer; and 9) current financial news. The Corporation believes that unrealized losses at September 30, 2016 were primarily the result of changes in market interest rates and that the Corporation has the ability to hold these investments for a time necessary to recover the amortized cost. Through September 30, 2016 the Corporation has collected all interest and principal on its investment securities as scheduled. The Corporation believes that collection of the contractual principal and interest is probable and, therefore, all impairment is considered to be temporary. |
Restricted Investment In Bank S
Restricted Investment In Bank Stocks | 9 Months Ended |
Sep. 30, 2016 | |
Restricted Investment In Bank Stocks [Abstract] | |
Restricted Investment In Bank Stocks | Note 4—Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of September 30, 2016 and December 31, 2015 , consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (FHLBP) and, to a lesser degree, Atlantic Community Bankers Bank (ACBB). Under the FHLBP’s Capital Plan, PeoplesBank is required to maintain a minimum member stock investment, as a condition of becoming and remaining a member and as a condition of obtaining borrowings from the FHLBP. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the periods ended September 30, 2016 and 2015 . The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942 . Management’s determination of whether these investments are impaired is based on their a ssessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended September 30, 2016 and 2015 . |
Loans
Loans | 9 Months Ended |
Sep. 30, 2016 | |
Loans [Abstract] | |
Loans | Note 5—Loans Loan Portfolio Composition The table below provides the composition of the loan portfolio at September 30, 2016 and December 31, 2015 . The portfolio is comprised of two segments, commercial and consumer loans. The commercial loan segment is disaggregated by industry class which allows the Corporation to monitor risk and performance. Those industries representing the largest dollar investment and most risk are listed separately. The “Other” commercial loans category is comprised of various industries. The consumer related segment is comprised of residential mortgages, home equity and other consumer loans. The Corporation has not engaged in sub-prime residential mortgage originations. September 30, % Total December 31, % Total (dollars in thousands) 2016 Loans 2015 Loans Builder & developer $ 128,996 10.7 $ 133,978 11.9 Commercial real estate investor 229,619 19.0 191,994 17.1 Residential real estate investor 175,768 14.6 161,144 14.3 Hotel/Motel 82,714 6.8 84,171 7.5 Wholesale & retail 88,422 7.3 77,694 6.9 Manufacturing 39,327 3.3 30,325 2.7 Agriculture 48,105 4.0 41,217 3.7 Other 223,954 18.5 215,891 19.2 Total commercial related loans 1,016,905 84.2 936,414 83.4 Residential mortgages 69,845 5.8 70,094 6.2 Home equity 91,468 7.6 86,408 7.7 Other 29,624 2.4 30,295 2.7 Total consumer related loans 190,937 15.8 186,797 16.6 Total loans $ 1,207,842 100.0 $ 1,123,211 100.0 Loan Risk Ratings The Corporation’s internal risk rating system follows regulatory guidance as to risk classifications and definitions. Every approved loan is assigned a risk rating. Generally, risk ratings for commercial related loans and residential mortgages held for investment are determined by a formal evaluation of risk factors performed by the Corporation’s underwriting staff. For consumer loans, and commercial loans up to $500,000 , the Corporation uses third-party credit scoring software models for risk rating purposes. The loan portfolio is monitored on a continuous basis by loan officers, loan review personnel and senior management. Adjustments of loan risk ratings are generally performed by the Special Asset Committee, which includes senior management. The Committee, which meets monthly, makes changes, as appropriate, to risk ratings when it becomes aware of credit events such as payment delinquency, cessation of a business or project, bankruptcy or death of the borrower, or changes in collateral value. The Corporation uses ten risk ratings to grade loans. The first seven ratings, representing the lowest risk, are combined and given a “pass” rating. A pass rating is a satisfactory credit rating, which applies to a loan that is expected to perform in accordance with the loan agreement and has a low probability of loss. A loan rated “special mention” has a potential weakness which may, if not corrected, weaken the loan or inadequately protect the Corporation’s position at some future date. A loan rated “substandard” is inadequately protected by the current net worth or paying capacity of the borrower or of the collateral pledged. A substandard loan has a well-defined weakness or weaknesses that could jeopardize liquidation of the loan, which exposes the Corporation to loss if the deficiencies are not corrected. A loan classified “doubtful” has all the weaknesses inherent in one classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and value highly improbable and the possibility of loss extremely high. When circumstances indicate that collection of the loan is doubtful, the loan is risk rated “nonaccrual,” the accrual of interest income is discontinued, and any unpaid interest previously credited to income is reversed. The table below does not include the regulatory classification of “doubtful,” which is subsumed within the nonaccrual risk rating category, nor does it include the regulatory classification of “loss” because the Corporation promptly charges off known loan losses. The table below presents a summary of loan risk ratings by loan class at September 30, 2016 and December 31, 2015 . Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total September 30, 2016 Builder & developer $ 118,625 $ 6,445 $ 3,542 $ 384 $ 128,996 Commercial real estate investor 222,173 1,494 5,952 0 229,619 Residential real estate investor 169,863 4,192 1,710 3 175,768 Hotel/Motel 82,353 0 0 361 82,714 Wholesale & retail 79,769 8,653 0 0 88,422 Manufacturing 33,946 4,763 618 0 39,327 Agriculture 46,295 802 0 1,008 48,105 Other 216,411 6,404 876 263 223,954 Total commercial related loans 969,435 32,753 12,698 2,019 1,016,905 Residential mortgage 69,625 0 99 121 69,845 Home equity 91,085 71 0 312 91,468 Other 29,361 72 129 62 29,624 Total consumer related loans 190,071 143 228 495 190,937 Total loans $ 1,159,506 $ 32,896 $ 12,926 $ 2,514 $ 1,207,842 December 31, 2015 Builder & developer $ 122,919 $ 6,775 $ 3,873 $ 411 $ 133,978 Commercial real estate investor 185,621 396 5,957 20 191,994 Residential real estate investor 153,072 6,601 874 597 161,144 Hotel/Motel 83,751 0 0 420 84,171 Wholesale & retail 69,973 7,678 0 43 77,694 Manufacturing 26,705 2,990 630 0 30,325 Agriculture 40,795 0 0 422 41,217 Other 212,971 1,131 855 934 215,891 Total commercial related loans 895,807 25,571 12,189 2,847 936,414 Residential mortgage 69,930 0 97 67 70,094 Home equity 85,690 516 0 202 86,408 Other 29,973 75 130 117 30,295 Total consumer related loans 185,593 591 227 386 186,797 Total loans $ 1,081,400 $ 26,162 $ 12,416 $ 3,233 $ 1,123,211 Impaired Loans The table below presents a summary of impaired loans at September 30, 2016 and December 31, 2015 . Generally, impaired loans are loans risk rated substandard and nonaccrual. An allowance is established for individual commercial loans where the Corporation has doubt as to full recovery of the outstanding principal balance. The recorded investment represents outstanding unpaid principal loan balances adjusted for charge-offs. With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal September 30, 2016 Builder & developer $ 3,542 $ 3,678 $ 384 $ 384 $ 200 $ 3,926 $ 4,062 Commercial real estate investor 5,952 5,967 0 0 0 5,952 5,967 Residential real estate investor 1,713 2,438 0 0 0 1,713 2,438 Hotel/Motel 361 361 0 0 0 361 361 Wholesale & retail 262 262 0 0 0 262 262 Manufacturing 618 618 0 0 0 618 618 Agriculture 636 636 372 372 263 1,008 1,008 Other commercial 956 956 183 298 31 1,139 1,254 Total impaired commercial related loans 14,040 14,916 939 1,054 494 14,979 15,970 Residential mortgage 220 289 0 0 0 220 289 Home equity 312 312 0 0 0 312 312 Other consumer 191 191 0 0 0 191 191 Total impaired consumer related loans 723 792 0 0 0 723 792 Total impaired loans $ 14,763 $ 15,708 $ 939 $ 1,054 $ 494 $ 15,702 $ 16,762 December 31, 2015 Builder & developer $ 4,284 $ 4,917 $ 0 $ 0 $ 0 $ 4,284 $ 4,917 Commercial real estate investor 5,977 5,991 0 0 0 5,977 5,991 Residential real estate investor 649 1,199 822 864 142 1,471 2,063 Hotel/Motel 420 420 0 0 0 420 420 Wholesale & retail 309 309 0 0 0 309 309 Manufacturing 630 630 0 0 0 630 630 Agriculture 0 0 422 422 263 422 422 Other commercial 1,789 1,904 0 0 0 1,789 1,904 Total impaired commercial related loans 14,058 15,370 1,244 1,286 405 15,302 16,656 Residential mortgage 164 188 0 0 0 164 188 Home equity 202 242 0 0 0 202 242 Other consumer 247 265 0 0 0 247 265 Total impaired consumer related loans 613 695 0 0 0 613 695 Total impaired loans $ 14,671 $ 16,065 $ 1,244 $ 1,286 $ 405 $ 15,915 $ 17,351 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three and nine months ended September 30, 2016 and 2015 . With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income Three months ended September 30, 2016 Builder & developer $ 3,722 $ 56 $ 0 $ 192 $ 0 $ 0 $ 3,914 $ 56 $ 0 Commercial real estate investor 5,854 74 0 0 0 0 5,854 74 0 Residential real estate investor 1,086 14 0 255 0 0 1,341 14 0 Hotel/Motel 371 0 0 0 0 0 371 0 0 Wholesale & retail 269 3 0 0 0 0 269 3 0 Manufacturing 620 10 0 0 0 0 620 10 0 Agriculture 636 16 16 376 0 0 1,012 16 16 Other commercial 954 14 0 183 0 0 1,137 14 0 Total impaired commercial related loans 13,512 187 16 1,006 0 0 14,518 187 16 Residential mortgage 253 1 1 0 0 0 253 1 1 Home equity 312 1 1 0 0 0 312 1 1 Other consumer 192 3 1 0 0 0 192 3 1 Total impaired consumer related loans 757 5 3 0 0 0 757 5 3 Total impaired loans $ 14,269 $ 192 $ 19 $ 1,006 $ 0 $ 0 $ 15,275 $ 192 $ 19 Three months ended September 30, 2015 Builder & developer $ 4,128 $ 93 $ 30 $ 1,445 $ 0 $ 0 $ 5,573 $ 93 $ 30 Commercial real estate investor 4,935 83 33 1,106 0 0 6,041 83 33 Residential real estate investor 776 5 0 998 7 0 1,774 12 0 Hotel/Motel 470 6 6 0 0 0 470 6 6 Wholesale & retail 385 4 0 0 0 0 385 4 0 Manufacturing 638 10 0 0 0 0 638 10 0 Agriculture 0 0 0 422 0 0 422 0 0 Other commercial 1,935 14 0 0 0 0 1,935 14 0 Total impaired commercial related loans 13,267 215 69 3,971 7 0 17,238 222 69 Residential mortgage 159 1 0 0 0 0 159 1 0 Home equity 172 0 0 0 0 0 172 0 0 Other consumer 343 4 1 0 0 0 343 4 1 Total impaired consumer related loans 674 5 1 0 0 0 674 5 1 Total impaired loans $ 13,941 $ 220 $ 70 $ 3,971 $ 7 $ 0 $ 17,912 $ 227 $ 70 With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income Nine months ended September 30, 2016 Builder & developer $ 3,917 $ 174 $ 0 $ 96 $ 0 $ 0 $ 4,013 $ 174 $ 0 Commercial real estate investor 5,876 224 0 0 0 0 5,876 224 0 Residential real estate investor 821 38 0 536 0 0 1,357 38 0 Hotel/Motel 393 2 2 0 0 0 393 2 2 Wholesale & retail 285 8 0 0 0 0 285 8 0 Manufacturing 624 29 0 0 0 0 624 29 0 Agriculture 318 17 17 391 0 0 709 17 17 Other commercial 1,332 62 20 91 0 0 1,423 62 20 Total impaired commercial related loans 13,566 554 39 1,114 0 0 14,680 554 39 Residential mortgage 246 1 1 0 0 0 246 1 1 Home equity 295 3 2 0 0 0 295 3 2 Other consumer 226 9 4 0 0 0 226 9 4 Total impaired consumer related loans 767 13 7 0 0 0 767 13 7 Total impaired loans $ 14,333 $ 567 $ 46 $ 1,114 $ 0 $ 0 $ 15,447 $ 567 $ 46 Nine months ended September 30, 2015 Builder & developer $ 4,037 $ 214 $ 32 $ 1,745 $ 0 $ 0 $ 5,782 $ 214 $ 32 Commercial real estate investor 4,704 562 416 1,491 0 0 6,195 562 416 Residential real estate investor 926 19 1 897 19 0 1,823 38 1 Hotel/Motel 492 11 11 0 0 0 492 11 11 Wholesale & retail 389 14 2 0 0 0 389 14 2 Manufacturing 645 30 0 0 0 0 645 30 0 Agriculture 0 0 0 425 13 13 425 13 13 Other commercial 1,617 81 31 118 0 0 1,735 81 31 Total impaired commercial related loans 12,810 931 493 4,676 32 13 17,486 963 506 Residential mortgage 167 4 0 0 0 0 167 4 0 Home equity 149 0 0 0 0 0 149 0 0 Other consumer 367 13 6 0 0 0 367 13 6 Total impaired consumer related loans 683 17 6 0 0 0 683 17 6 Total impaired loans $ 13,493 $ 948 $ 499 $ 4,676 $ 32 $ 13 $ 18,169 $ 980 $ 512 Past Due and Nonaccrual The performance and credit quality of the loan portfolio is also monitored by using an aging schedule that shows the length of time a loan is past due. The table below presents a summary of past due loans, nonaccrual loans and current loans by loan segment and class at September 30, 2016 and December 31, 2015 . ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans September 30, 2016 Builder & developer $ 0 $ 0 $ 0 $ 384 $ 384 $ 128,612 $ 128,996 Commercial real estate investor 211 0 0 0 211 229,408 229,619 Residential real estate investor 132 203 93 3 431 175,337 175,768 Hotel/Motel 0 0 0 361 361 82,353 82,714 Wholesale & retail 134 0 0 0 134 88,288 88,422 Manufacturing 0 0 0 0 0 39,327 39,327 Agriculture 0 0 0 1,008 1,008 47,097 48,105 Other 0 0 0 263 263 223,691 223,954 Total commercial related loans 477 203 93 2,019 2,792 1,014,113 1,016,905 Residential mortgage 0 433 68 121 622 69,223 69,845 Home equity 235 40 0 312 587 90,881 91,468 Other 67 132 12 62 273 29,351 29,624 Total consumer related loans 302 605 80 495 1,482 189,455 190,937 Total loans $ 779 $ 808 $ 173 $ 2,514 $ 4,274 $ 1,203,568 $ 1,207,842 December 31, 2015 Builder & developer $ 398 $ 308 $ 0 $ 411 $ 1,117 $ 132,861 $ 133,978 Commercial real estate investor 216 396 0 20 632 191,362 191,994 Residential real estate investor 0 304 0 597 901 160,243 161,144 Hotel/Motel 0 0 0 420 420 83,751 84,171 Wholesale & retail 0 119 0 43 162 77,532 77,694 Manufacturing 0 0 0 0 0 30,325 30,325 Agriculture 0 0 0 422 422 40,795 41,217 Other 324 0 198 934 1,456 214,435 215,891 Total commercial related loans 938 1,127 198 2,847 5,110 931,304 936,414 Residential mortgage 0 0 249 67 316 69,778 70,094 Home equity 485 71 0 202 758 85,650 86,408 Other 171 163 37 117 488 29,807 30,295 Total consumer related loans 656 234 286 386 1,562 185,235 186,797 Total loans $ 1,594 $ 1,361 $ 484 $ 3,233 $ 6,672 $ 1,116,539 $ 1,123,211 Troubled Debt Restructurings Loans classified as troubled debt restructurings (TDRs) are designated impaired and arise when the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted with respect to these loans generally involve an extension of the maturity date or a below market interest rate relative to new debt with similar credit risk. Generally, these loans are secured by real estate. If repayment of the loan is determined to be collateral dependent, the loan is evaluated for impairment loss based on the fair value of the collateral. For loans that are not collateral dependent, the present value of expected future cash flows, discounted at the loan’s original effective interest rate, is used to determine any impairment loss. A nonaccrual TDR represents a nonaccrual loan, as previously defined, which includes an economic concession. Nonaccrual TDRs are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive payments after the modification and future principal and interest payments are reasonably assured. In contrast, an accruing TDR represents a loan that, at the time of the modification, has a demonstrated history of payments and management believes that future loan payments are reasonably assured under the modified terms. There were no loans whose terms have been modified under TDRs during the three and nine months ended September 30, 2016 and 2015. There were no defaults during the three and nine months ended September 30, 2016 for TDRs entered into during the previous 12 month period. |
Allowance For Loan Losses
Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Allowance For Loan Losses [Abstract] | |
Allowance For Loan Losses | NOTE 6 – Allowance for Loan Losses The table below shows the activity in and the composition of the allowance for loan losses by loan segment and class detail as of and for the three and nine months ended September 30, 2016 and 2015 . Allowance for Loan Losses July 1, 2016 September 30, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,033 $ (85) $ 0 $ 141 $ 2,089 Commercial real estate investor 2,586 0 0 125 2,711 Residential real estate investor 2,415 0 0 2 2,417 Hotel/Motel 844 0 0 (20) 824 Wholesale & retail 697 0 0 112 809 Manufacturing 309 0 0 63 372 Agriculture 568 0 0 24 592 Other commercial 2,107 0 1 134 2,242 Total commercial related loans 11,559 (85) 1 581 12,056 Residential mortgage 65 (45) 0 57 77 Home equity 167 0 0 5 172 Other consumer 209 (8) 4 (11) 194 Total consumer related loans 441 (53) 4 51 443 Unallocated 1,558 0 0 168 1,726 Total $ 13,558 $ (138) $ 5 $ 800 $ 14,225 Allowance for Loan Losses July 1, 2015 September 30, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,906 $ 0 $ 0 $ 234 $ 2,140 Commercial real estate investor 2,630 0 0 (530) 2,100 Residential real estate investor 1,384 (42) 0 225 1,567 Hotel/Motel 702 0 0 183 885 Wholesale & retail 586 0 2 105 693 Manufacturing 192 0 0 52 244 Agriculture 509 0 0 18 527 Other commercial 1,523 0 0 372 1,895 Total commercial related loans 9,432 (42) 2 659 10,051 Residential mortgage 66 0 0 3 69 Home equity 158 0 0 1 159 Other consumer 153 (49) 3 70 177 Total consumer related loans 377 (49) 3 74 405 Unallocated 2,157 0 0 (233) 1,924 Total $ 11,966 $ (91) $ 5 $ 500 $ 12,380 Allowance for Loan Losses January 1, 2016 September 30, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,934 $ (85) $ 0 $ 240 $ 2,089 Commercial real estate investor 2,337 0 0 374 2,711 Residential real estate investor 2,101 (487) 2 801 2,417 Hotel/Motel 837 0 0 (13) 824 Wholesale & retail 701 0 2 106 809 Manufacturing 223 (140) 0 289 372 Agriculture 548 0 0 44 592 Other commercial 2,054 (59) 1 246 2,242 Total commercial related loans 10,735 (771) 5 2,087 12,056 Residential mortgage 67 (69) 0 79 77 Home equity 161 0 0 11 172 Other consumer 261 (101) 57 (23) 194 Total consumer related loans 489 (170) 57 67 443 Unallocated 1,480 0 0 246 1,726 Total $ 12,704 $ (941) $ 62 $ 2,400 $ 14,225 Allowance for Loan Losses January 1, 2015 September 30, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,236 $ 0 $ 0 $ (96) $ 2,140 Commercial real estate investor 2,204 0 0 (104) 2,100 Residential real estate investor 1,484 (585) 2 666 1,567 Hotel/Motel 671 0 0 214 885 Wholesale & retail 691 0 19 (17) 693 Manufacturing 201 0 0 43 244 Agriculture 329 0 0 198 527 Other commercial 1,554 (400) 0 741 1,895 Total commercial related loans 9,370 (985) 21 1,645 10,051 Residential mortgage 64 (40) 21 24 69 Home equity 176 (40) 0 23 159 Other consumer 216 (81) 22 20 177 Total consumer related loans 456 (161) 43 67 405 Unallocated 1,336 0 0 588 1,924 Total $ 11,162 $ (1,146) $ 64 $ 2,300 $ 12,380 The table below shows the allowance amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment at September 30, 2016 and 2015 and December 31, 2015 . Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance September 30, 2016 Builder & developer $ 200 $ 1,889 $ 2,089 $ 3,926 $ 125,070 $ 128,996 Commercial real estate investor 0 2,711 2,711 5,952 223,667 229,619 Residential real estate investor 0 2,417 2,417 1,713 174,055 175,768 Hotel/Motel 0 824 824 361 82,353 82,714 Wholesale & retail 0 809 809 262 88,160 88,422 Manufacturing 0 372 372 618 38,709 39,327 Agriculture 263 329 592 1,008 47,097 48,105 Other commercial 31 2,211 2,242 1,139 222,815 223,954 Total commercial related 494 11,562 12,056 14,979 1,001,926 1,016,905 Residential mortgage 0 77 77 220 69,625 69,845 Home equity 0 172 172 312 91,156 91,468 Other consumer 0 194 194 191 29,433 29,624 Total consumer related 0 443 443 723 190,214 190,937 Unallocated 0 1,726 1,726 - - - Total $ 494 $ 13,731 $ 14,225 $ 15,702 $ 1,192,140 $ 1,207,842 December 31, 2015 Builder & developer $ 0 $ 1,934 $ 1,934 $ 4,284 $ 129,694 $ 133,978 Commercial real estate investor 0 2,337 2,337 5,977 186,017 191,994 Residential real estate investor 142 1,959 2,101 1,471 159,673 161,144 Hotel/Motel 0 837 837 420 83,751 84,171 Wholesale & retail 0 701 701 309 77,385 77,694 Manufacturing 0 223 223 630 29,695 30,325 Agriculture 263 285 548 422 40,795 41,217 Other commercial 0 2,054 2,054 1,789 214,102 215,891 Total commercial related 405 10,330 10,735 15,302 921,112 936,414 Residential mortgage 0 67 67 164 69,930 70,094 Home equity 0 161 161 202 86,206 86,408 Other consumer 0 261 261 247 30,048 30,295 Total consumer related 0 489 489 613 186,184 186,797 Unallocated 0 1,480 1,480 - - - Total $ 405 $ 12,299 $ 12,704 $ 15,915 $ 1,107,296 $ 1,123,211 September 30, 2015 Builder & developer $ 495 $ 1,645 $ 2,140 $ 5,461 $ 128,356 $ 133,817 Commercial real estate investor 0 2,100 2,100 6,032 166,773 172,805 Residential real estate investor 142 1,425 1,567 1,602 121,080 122,682 Hotel/Motel 0 885 885 446 84,298 84,744 Wholesale & retail 0 693 693 383 76,448 76,831 Manufacturing 0 244 244 636 32,469 33,105 Agriculture 263 264 527 422 37,868 38,290 Other commercial 0 1,895 1,895 1,937 201,713 203,650 Total commercial related 900 9,151 10,051 16,919 849,005 865,924 Residential mortgage 0 69 69 165 72,914 73,079 Home equity 0 159 159 203 84,714 84,917 Other consumer 0 177 177 306 31,423 31,729 Total consumer related 0 405 405 674 189,051 189,725 Unallocated 0 1,924 1,924 - - - Total $ 900 $ 11,480 $ 12,380 $ 17,593 $ 1,038,056 $ 1,055,649 |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2016 | |
Deposits [Abstract] | |
Deposits | Note 7—Deposits The composition of deposits as of September 30, 2016 and December 31, 2015 is shown below. September 30, December 31, (dollars in thousands) 2016 2015 Noninterest bearing demand $ 187,455 $ 162,982 NOW 123,845 102,943 Money market 410,806 360,983 Savings 76,827 69,646 Time deposits less than $100,000 245,560 238,392 Time deposits $100,000 to $250,000 129,963 122,730 Time deposits $250,000 or more 47,639 36,473 Total deposits $ 1,222,095 $ 1,094,149 |
Short-Term Borrowings And Long-
Short-Term Borrowings And Long-Term Debt | 9 Months Ended |
Sep. 30, 2016 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Short-Term Borrowings And Long-Term Debt | Note 8—Short-Term Borrowings and Long-Term Debt Short-term borrowings consist of securities sold under agreements to repurchase, federal funds purchased and other borrowings. At September 30, 2016 , the balance of securities sold under agreements to repurchase was $31,061,000 compared to $74,510,000 at December 31, 2015 . There were no other short-term borrowings at September 30, 2016 or December 31, 2015. The following table presents a summary of long-term debt as of September 30, 2016 and December 31, 2015 . PeoplesBank’s long-term debt obligations to the FHLBP are fixed rate instruments. Under terms of a blanket collateral agreement with the FHLBP, the obligations are secured by FHLBP stock and PeoplesBank qualifying loan receivables, principally real estate secured loans. September 30, December 31, (dollars in thousands) 2016 2015 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due July 2016 , 2.35% 0 5,000 Due September 2016 , 1.18% 0 10,000 Due October 2016 , 1.06% 10,000 10,000 Due October 2016 , 1.10% 10,000 10,000 Due April 2017 , 0.97% 10,000 10,000 Due November 2017 , 1.19% 5,000 5,000 Due March 2018 , 1.17% 10,000 10,000 Due June 2018 , 1.87% 5,000 5,000 Due November 2018 , 1.62% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due June 2019 , 1.64% 5,000 5,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2021 , 2.14% 15,000 15,000 Total FHLBP 95,000 110,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 2.87% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 2.22% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total long-term debt $ 105,310 $ 120,310 In June 2006, Codorus Valley formed CVB Statutory Trust No. 2, a wholly-owned special purpose subsidiary whose sole purpose was to facilitate a pooled trust preferred debt issuance of $7,217,000 . In November 2004, Codorus Valley formed CVB Statutory Trust No. 1 to facilitate a pooled trust preferred debt issuance of $3,093,000 . The Corporation owns all of the common stock of these nonbank subsidiaries, and the debentures are the sole assets of the Trusts. The accounts of both Trusts are not consolidated for financial reporting purposes in accordance with FASB ASC 810. For regulatory capital purposes, all of the Corporation’s trust preferred securities qualified as Tier 1 capital for all reported periods. Trust preferred securities are subject to capital limitations under the FDIC’s risk-based capital guidelines. The Corporation used the net proceeds from these offerings to fund its operations. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2016 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 9—Regulatory Matters Codorus Valley and PeoplesBank are subject to various regulatory capital requirements. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if imposed, could have a material adverse effect on Codorus Valley’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Codorus Valley and PeoplesBank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators. On July 2, 2013, the Board of Governors of the Federal Reserve System finalized its rule implementing the Basel III regulatory capital framework, which the FDIC adopted on July 9, 2013. Under the rule, minimum requirements increased both the quantity and quality of capital held by banking organizations. Consistent with the Basel III framework, the rule included a new minimum ratio of common equity Tier 1 capital to risk-weighted assets of 4.5 percent, and a common equity Tier 1 conservation buffer of 2.5 percent of risk-weighted assets, that applies to all supervised financial institutions, which is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. The rule also raised the minimum ratio of Tier 1 capital to risk-weighted assets from 4 percent to 6 percent, and includes a minimum leverage ratio of 4 percent for all banking organizations. The new rule also increased the risk weights for past-due loans, certain commercial real estate loans, and some equity exposures, and makes selected other changes in risk weights and credit conversion factors. The rule for smaller, less complex institutions, including the Corporation, took effect January 1, 2015. As of September 30, 2016, Codorus Valley and PeoplesBank met the minimum requirements of the Basel III framework, and PeoplesBank’s capital ratios exceeded the amount to be considered “well capitalized” as defined in the regulations. The table below provides a comparison of the Corporation’s and PeoplesBank’s risk-based capital ratios and leverage ratios to the minimum regulatory requirement for the periods indicated. Minimum for Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at September 30, 2016 Capital ratios: Common equity Tier 1 $ 150,485 12.18 % $ 63,324 5.125 % n/a n/a Tier 1 risk based 160,485 12.99 81,858 6.625 n/a n/a Total risk based 174,710 14.14 106,569 8.625 n/a n/a Leverage 160,485 10.53 60,967 4.00 n/a n/a at December 31, 2015 Capital ratios: Common equity Tier 1 $ 143,456 12.56 % $ 51,395 4.50 % n/a n/a Tier 1 risk based 165,456 14.49 68,527 6.00 n/a n/a Total risk based 178,160 15.60 91,370 8.00 n/a n/a Leverage 165,456 11.73 56,398 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at September 30, 2016 Capital ratios: Common equity Tier 1 $ 156,897 12.73 % $ 63,151 5.125 % $ 80,094 6.50 % Tier 1 risk based 156,897 12.73 81,634 6.625 98,577 8.00 Total risk based 171,122 13.89 106,279 8.625 123,222 10.00 Leverage 156,897 10.32 60,828 4.00 76,035 5.00 at December 31, 2015 Capital ratios: Common equity Tier 1 $ 149,073 13.10 % $ 51,227 4.50 % $ 73,994 6.50 % Tier 1 risk based 149,073 13.10 68,302 6.00 91,070 8.00 Total risk based 161,777 14.21 91,070 8.00 113,837 10.00 Leverage 149,073 10.60 56,248 4.00 70,310 5.00 (1) Minimum amounts and ratios as of September 30, 2016 include the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. (2) To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2016 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 10—Shareholders’ Equity Public Offering of Common Stock On December 15, 2015, the Corporation completed a public offering of 1,519,000 shares of common stock at a price of $19.75 per share. On December 23, 2015, the Corporation announced that the underwriters of the previously closed public offering had exercised in full their option to purchase an additional 227,850 shares of the Corporation’s common stock at a public offering price of $19.75 per share. The Corporation raised net proceeds of approximately $32,500,000 , resulting from the gross amount of the public offering transaction and the exercise of the purchase options of $34,500,000 , less related underwriting discounts, commissions and offering expense of approximately $2,000,000 . Approximately $19,800,000 of the net proceeds from the public offering was invested in the Corporation’s Bank subsidiary, PeoplesBank. A portion of the proceeds were used to redeem the remaining $12,000,000 of Series B preferred held by the United States Department of Treasury on February 18, 2016. The remaining proceeds were used for general corporate purposes. Preferred Stock Issued under the US Treasury’s Small Business Lending Fund Program The U.S. Department of the Treasury (“Treasury”) had a capital investment in the Corporation pursuant to the Corporation’s participation in the Treasury’s Small Business Lending Funding Program (“SBLF Program”). In August 2011, the Corporation sold to the Treasury, for an aggregate purchase price of $25,000,000 , 25,000 shares of non-cumulative, perpetual preferred stock, Series B, $1,000 liquidation value, $2.50 par value. On May 30, 2014, the Corporation redeemed 13,000 of the 25,000 outstanding shares of the Corporation’s preferred stock that had been issued to the Treasury, leaving 12,000 outstanding shares representing $12,000,000 of preferred stock. On February 18, 2016, the Corporation redeemed the remaining $12,000,000 of Series B preferred stock issued to the Treasury as reported on Form 8-K filed on February 19, 2016. The annualized dividend rate on the preferred stock issued under the SBLF Program was 1 percent for the nine months ended September 30, 2015 and through the redemption date of February 18, 2016 . Common Stock Dividend Periodically, the Corporation distributes stock dividends on its common stock. On October 11, 2016 , the Corporation declared a 5 percent common stock dividend payable on December 13, 2016 , to shareholders of record at the close of business on October 25, 2016 . Distribution of this stock dividend will result in the issuance of approximately 399,088 additional common shares. The Corporation distributed a 5 percent stock dividend on December 8, 2015 which resulted in the issuance of 294,161 additional common shares. |
Contingent Liabilities
Contingent Liabilities | 9 Months Ended |
Sep. 30, 2016 | |
Contingent Liabilities [Abstract] | |
Contingent Liabilities | Note 11—Contingent Liabilities There are no legal proceedings pending against Codorus Valley Bancorp, Inc. or any of its subsidiaries which are expected to have a material impact upon the consolidated financial position and/or operating results of the Corporation, other than routine litigation incidental to the business. Management is not aware of any proceedings known or contemplated by government authorities. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2016 | |
Guarantees [Abstract] | |
Guarantees | Note 12—Guarantees Codorus Valley does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are written conditional commitments issued by PeoplesBank to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Corporation generally holds collateral and/or personal guarantees supporting these commitments. The Corporation had $20,505,000 of standby letters of credit outstanding on September 30, 2016 , compared to $19,037,000 on December 31, 2015 . Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding letters of credit. The amount of the liability as of September 30, 2016 and December 31, 2015 , for guarantees under standby letters of credit issued, was not material. Many of the commitments are expected to expire without being drawn upon and, therefore, generally do not present significant liquidity risk to the Corporation or PeoplesBank. |
Fair Value Of Assets And Liabil
Fair Value Of Assets And Liabilities | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Of Assets And Liabilities [Abstract] | |
Fair Value Of Assets And Liabilities | Note 13—Fair Value of Assets and Liabilities The Corporation uses its best judgment in estimating the fair value of the Corporation’s assets and liabilities; however, there are inherent weaknesses in any estimation technique. Therefore, the fair value estimates herein are not necessarily indicative of the amounts that could be realized in sales transactions on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values subsequent to the respective reporting dates may be different than the amounts reported at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that require significant management judgment or estimation, some of which may be internally developed. Since management maximizes the use of observable inputs and minimizes the use of unobservable inputs when determining fair value, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications on a quarterly basis. Assets Measured at Fair Value on a Recurring Basis Securities available-for-sale The fair values of investment securities were measured using information from a third-party pricing service. The pricing service uses quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique, used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather, by relying on the securities’ relationship to other benchmark quoted prices. At least annually, the Corporation reviews a random sample of the pricing information received from the third-party pricing service by comparing it to price quotes from third-party brokers. Historically, price deviations have been immaterial. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs September 30, 2016 Securities available-for-sale: U.S. Treasury notes $ 9,937 $ 9,937 $ 0 $ 0 U.S. agency 21,032 0 21,032 0 U.S. agency mortgage-backed, residential 100,153 0 100,153 0 State and municipal 69,251 0 69,251 0 December 31, 2015 Securities available-for-sale: U.S. agency $ 17,414 $ 0 $ 17,414 $ 0 U.S. agency mortgage-backed, residential 120,581 0 120,581 0 State and municipal 75,475 0 75,475 0 Assets Measured at Fair Value on a Nonrecurring Basis Impaired loans Impaired loans are those that are accounted for under FASB ASC Topic 310, in which the Corporation has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These loans are included as Level 3 fair values, based on the lowest level of input that is significant to the fair value measurements. At September 30, 2016 , the fair value of impaired loans with a valuation allowance or charge-off was $570,000 , net of valuation allowances of $494,000 and charge-offs of $870,000 . At December 31, 2015 the fair value of impaired loans with a valuation allowance or charge-off was $1,846,000 , net of valuation allowances of $405,000 and charge-offs of $1,262,000 . Foreclosed Real Estate Other real estate property acquired through foreclosure is initially recorded at fair value of the property at the transfer date less estimated selling cost. Subsequently, other real estate owned is carried at the lower of its carrying value or the fair value less estimated selling cost. Fair value is usually determined based on an independent third-party appraisal of the property or occasionally on a recent sales offer. At September 30, 2016 , the fair value of foreclosed real estate with a valuation allowance or write-down was $1,630,000 , net of valuation allowances of $891,000 . At December 31, 2015 , the fair value of foreclosed real estate with a valuation allowance or write-down was $2,003,000 , net of valuation allowances of $981,000 and write-downs of $34,000 . Mortgage Servicing Rights Mortgage servicing rights are initially recorded at fair value upon the sale of residential mortgage loans to secondary market investors. The fair value of servicing rights is based on the present value of estimated future cash flows on pools of mortgages stratified by rate and original time to maturity. Mortgage servicing rights are subsequently evaluated for impairment on a quarterly basis. Significant inputs to the valuation include expected cash flow, expected net servicing income, a cash flow discount rate and the expected life of the underlying loans. At September 30, 2016, the fair value of the mortgage servicing rights asset was $ 209,000 , net of a valuation allowance of $ 3,000 . There were no mortgage servicing assets as of December 31, 2015. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs September 30, 2016 Impaired loans $ 570 $ 0 $ 0 $ 570 Foreclosed real estate 1,630 0 0 1,630 Mortgage servicing rights 209 0 0 209 December 31, 2015 Impaired loans $ 1,846 $ 0 $ 0 $ 1,846 Foreclosed real estate 2,003 0 0 2,003 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average September 30, 2016 Impaired loans $ 570 Appraisal (1) Appraisal adjustments (2) 15% - 25% 24% Foreclosed real estate 1,630 Appraisal (1) Appraisal adjustments (2) 9% - 19% 19% Mortgage servicing rights 209 Multiple of annual Estimated prepayment speed 231% - 405% 378% service fee based on rate and term December 31, 2015 Impaired loans $ 1,846 Appraisal (1) Appraisal adjustments (2) 15% - 25% 16% Foreclosed real estate 2,003 Appraisal (1) Appraisal adjustments (2) 7% - 38% 34% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisals may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. Disclosures about Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of the Corporation’s financial instruments as of September 30, 2016 and December 31, 2015 : Cash and cash equivalents The carrying amount is a reasonable estimate of fair value. Securities available for sale The fair value of securities available for sale is determined in accordance with the methods described under FASB ASC Topic 820 as described above. Restricted investment in bank stocks The carrying amount of restricted investment in bank stocks is a reasonable estimate of fair value. The Corporation is required to maintain minimum investment balances in these stocks. These stocks are not actively traded and, therefore, have no readily determinable market value. Loans held for sale The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for the specific attributes of that loan. Loans, net The fair value of loans, excluding all impaired loans, is estimated using discounted cash flow analyses using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans were first segregated by type such as commercial, real estate, and consumer, and were further segmented into fixed and variable rate. Projected future cash flows are calculated based on contractual maturity or call dates. For variable rate loans that reprice frequently and have no significant change in credit risk, fair value is based on carrying value. Interest receivable The carrying value of interest receivable is a reasonable estimate of fair value. Deposits The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair values of time deposits are estimated using a discounted cash flow analyses. The discount rates used are based on rates currently offered for deposits with similar remaining maturities. The fair values of variable rate time deposits that reprice frequently are based on carrying value. The fair values of time deposit liabilities do not take into consideration the value of the Corporation’s long-term relationships with depositors, which may have significant value. Short-term borrowings For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Long-term debt Long-term debt includes FHLBP advances (Level 2) and junior subordinated debt (Level 3). The fair value of FHLBP advances is estimated using discounted cash flow analysis, based on quoted prices for new FHLBP advances with similar credit risk characteristics, terms and remaining maturity. These prices are obtained from this active market and represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. The fair value of junior subordinated debt is estimated using discounted cash flow analysis, based on market rates and spread characteristics of similar debt with similar credit risk characteristics, terms and remaining maturity. Interest payable The carrying value of interest payable is a reasonable estimate of fair value. Off-balance sheet instruments Off-balance sheet instruments consist of lending commitments and letters of credit and are based on fees currently charged in the market to enter into similar arrangements, taking into account the remaining terms of the agreements and counterparties’ credit standing. These amounts were not considered material. The following presents the carrying amounts and estimated fair values of the Corporation’s financial instruments as of September 30, 2016 and December 31, 2015 . Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs September 30, 2016 Financial assets Cash and cash equivalents $ 46,135 $ 46,135 $ 46,135 $ 0 $ 0 Securities available-for-sale 200,373 200,373 9,937 190,436 0 Restricted investment in bank stocks 4,526 4,526 0 4,526 0 Loans held for sale 3,318 3,422 0 3,422 0 Loans, net 1,193,617 1,202,404 0 0 1,202,404 Interest receivable 3,614 3,614 0 3,614 0 Mortgage servicing rights 209 209 0 0 209 Financial liabilities Deposits $ 1,222,095 $ 1,223,310 $ 0 $ 1,223,310 $ 0 Short-term borrowings 31,061 31,061 0 31,061 0 Long-term debt 105,310 103,213 0 95,995 7,218 Interest payable 468 468 0 468 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2015 Financial assets Cash and cash equivalents $ 57,485 $ 57,485 $ 57,485 $ 0 $ 0 Securities available-for-sale 213,470 213,470 0 213,470 0 Restricted investment in bank stocks 5,028 5,028 0 5,028 0 Loans held for sale 564 574 0 574 0 Loans, net 1,110,507 1,119,758 0 0 1,119,758 Interest receivable 4,003 4,003 0 4,003 0 Financial liabilities Deposits $ 1,094,149 $ 1,092,819 $ 0 $ 1,092,819 $ 0 Short-term borrowings 74,510 74,510 0 74,510 0 Long-term debt 120,310 117,041 0 110,195 6,846 Interest payable 468 468 0 468 0 Off-balance sheet instruments 0 0 0 0 0 |
Assets And Liabilities Subject
Assets And Liabilities Subject To Offsetting | 9 Months Ended |
Sep. 30, 2016 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Assets And Liabilities Subject To Offsetting | Note 14—Assets and Liabilities Subject to Offsetting Securities Sold Under Agreements to Repurchase PeoplesBank enters into agreements with customers in which it sells securities subject to an obligation to repurchase the same securities (“repurchase agreements”). The contractual maturity of the repurchase agreement is overnight and continues until either party terminates the agreement. These repurchase agreements are accounted for as a collateralized financing arrangement (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability (short-term borrowings) in the Corporation’s consolidated financial statements of condition, while the securities underlying the repurchase agreements are appropriately segregated for safekeeping purposes and remain in the respective securities asset accounts. Thus, there is no offsetting or netting of the securities with the repurchase agreement liabilities. Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S. agency Cash Recognized Statements the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities of Condition of Condition residential U.S. agency Pledged Amount September 30, 2016 Repurchase Agreements $ 31,061 $ 0 $ 31,061 $ (25,837) (5,224) $ 0 $ 0 December 31, 2015 Repurchase Agreements $ 74,510 $ 0 $ 74,510 (63,162) (11,348) $ 0 $ 0 As of September 30, 2016 and December 31, 2015, the fair value of securities pledged in connection with repurchase agreements was $34,859,000 and $75,094,000 , respectively. |
Summary Of Significant Accoun24
Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Summary Of Significant Accounting Policies [Abstract] | |
Nature of Operations and Basis of Presentation | Nature of Operations and Basis of Presentation The accompanying consolidated balance sheet at December 31, 2015 has been derived from audited financial statements, and the unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q, and FASB Accounting Standards Codification (ASC) 270. Accordingly, the interim financial statements do not include all of the financial information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements include all adjustments necessary to present fairly the financial condition and results of operations for the reported periods, and all such adjustments are of a normal and recurring nature. Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates two wholly-owned subsidiaries, Codorus Valley Financial Advisors, Inc., which sells nondeposit investment products, and SYC Settlement Services, Inc., which provides real estate settlement services. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and two wholly-owned nonbank subsidiaries, SYC Realty Company, Inc. and CVLY Corp. SYC Realty is primarily used to hold foreclosed properties obtained by PeoplesBank and was inactive during the period ended September 30, 2016 . CVLY Corp. was formed to facilitate the acquisition of Madison Bancorp, Inc. (“Madison”) and may be used, as needed, for the financial and legal management of future acquisition transactions. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8—Short-Term Borrowings and Long-Term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. These consolidated statements should be read in con j unction with the notes to the audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 . The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for the full year. In accordance with FASB ASC 855, the Corporation evaluated the events and transactions that occurred after the balance sheet date of September 30, 2016 and through the date these consolidated financial statements were issued, for items of potential recognition or disclosure. |
Loans | Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A past due loan may remain on accrual status if it is in the process of collection and well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, nonaccrual loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. |
Acquired Loans | Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. For acquired loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loan are a component of the initial fair value and amortized over the life of the asset. Subsequent to the acquisition date, the methods used to estimate the required allowance for loan losses on these loans is similar to originated loans. However, the Corporation records a provision for loan losses only when the required allowance for loan losses exceeds any remaining credit discount. The remaining differences between the acquisition date fair value and the unpaid principal balance at the date of acquisition are recorded in interest income over the life of the loan. Acquired loans that have evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Corporation will be unable to collect all contractually required payments are accounted for as impaired loans under ASC 310-30. The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable discount. The non-accretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require the Corporation to evaluate the need for an allowance for loan losses on these loans. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the non-accretable discount which the Corporation then reclassifies as an accretable discount that is recognized into interest income over the remaining life of the loans using the interest method. The following is a summary of acquired impaired loans from the merger, as discussed in Note 2-Merger with Madison Bancorp, Inc.: (dollars in thousands) January 16, 2015 Contractually required principal and interest at acquisition $ 1,961 Contractual cash flows not expected to be collected 1,185 Expected cash flows at acquisition 776 Interest component of expected cash flows 160 Basis in acquired loans at acquisition - estimated fair value $ 616 |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered by management to be adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired, generally substandard and nonaccrual loans. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class, including commercial loans not considered impaired, as well as smaller balance homogeneous loans such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in national and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors The unallocated component is maintained to cover uncertainties that could affect the Corporation’s estimate of probable losses . For example, increasing credit risks and uncertainties, not yet reflected in current leading indicators, associated with prolonged low economic growth, or recessionary business conditions for certain industries or the broad economy, or the erosion of real estate values, represent risk factors, the occurrence of any or all of which can adversely affect a borrowers’ ability to service their loans. The unallocated component of the allowance also reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the loan portfolio, including the unpredictable timing and amounts of charge-offs and related historical loss averages, and specific-credit or broader portfolio future cash flow value and collateral valuation uncertainties which could negatively impact unimpaired portfolio loss factors. As disclosed in Note 5—Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions or private equity companies. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral, which could render the Corporation under-secured or unsecured. In addition, economic and housing market conditions can adversely affect the ability of borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Banking regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses and may require the Corporation to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to the Corporation. Based on an analysis of the loan portfolio, the Corporation believes that the level of the allowance for loan losses at September 30, 2016 is adequate. |
Foreclosed Real Estate | Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in-substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a write-down. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At September 30, 2016 , foreclosed real estate, net of allowance, was $2,674,000 , compared to $2,913,000 at December 31, 2015 . Included within loans receivable as of September 30, 2016 was a recorded investment of $230,000 of consumer mortgage loans secured by residential real estate, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. |
Mortgage Servicing Rights | Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At September 30, 2016, the MSR asset was $ 209,000 , net of a valuation allowance of $ 3,000 . There were no mortgage servicing assets as of December 31, 2015. |
Goodwill and Core Deposit Intangible Assets | Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2016. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At September 30, 2016 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. |
Per Common Share Data | Per Common Share Data All per share computations include the effect of stock dividends declared, including a 5 percent common stock dividend declared October 11, 2016. The computation of net income per common share is provided in the table below. Three months ended Nine months ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 3,403 $ 2,981 $ 9,244 $ 8,275 Weighted average shares outstanding (basic) 8,378 6,491 8,367 6,464 Effect of dilutive stock options 70 63 68 72 Weighted average shares outstanding (diluted) 8,448 6,554 8,435 6,536 Basic earnings per common share $ 0.41 $ 0.46 $ 1.10 $ 1.28 Diluted earnings per common share $ 0.40 $ 0.45 $ 1.09 $ 1.27 Anti-dilutive stock options excluded from the computation of earnings per share 57 32 69 33 |
Comprehensive Income | Comprehensive Income Accounting principles generally accepted in the United States require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. |
Cash Flow Information | Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Nine months ended September 30, (dollars in thousands) 2016 2015 Cash paid during the period for: Income taxes $ 2,729 $ 4,100 Interest $ 6,418 $ 6,071 Noncash investing activities: Transfer of loans to foreclosed real estate $ 251 $ 41 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,157 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. This standard clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows to reduce diversity in practice. This standard contains guidance clarifying when an entity should separate cash receipts and cash payments and classify them into more than one class of cash flows (including when reasonable judgment is required to estimate and allocate cash flows) versus when an entity should classify the aggregate amount into one class of cash flows on the basis of predominance. The new standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the expected credit loss (CECL) model. The CECL model calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718). This standard introduces amendments intended to simplify the accounting for stock compensation. Specifically, the ASU requires all excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) to be recognized as income tax expense or benefit in the income statement. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee's perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for lessees. From the lessor's perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, an operating lease results. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This standards update provides a framework that replaces most existing revenue recognition guidance. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with earlier adoption permitted. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. |
Summary Of Significant Accoun25
Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Acquired Impaired Loans | (dollars in thousands) January 16, 2015 Contractually required principal and interest at acquisition $ 1,961 Contractual cash flows not expected to be collected 1,185 Expected cash flows at acquisition 776 Interest component of expected cash flows 160 Basis in acquired loans at acquisition - estimated fair value $ 616 |
Schedule Of Computation Of Net Income Per Common Share | Three months ended Nine months ended September 30, September 30, (in thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 3,403 $ 2,981 $ 9,244 $ 8,275 Weighted average shares outstanding (basic) 8,378 6,491 8,367 6,464 Effect of dilutive stock options 70 63 68 72 Weighted average shares outstanding (diluted) 8,448 6,554 8,435 6,536 Basic earnings per common share $ 0.41 $ 0.46 $ 1.10 $ 1.28 Diluted earnings per common share $ 0.40 $ 0.45 $ 1.09 $ 1.27 Anti-dilutive stock options excluded from the computation of earnings per share 57 32 69 33 |
Schedule Of Supplemental Cash Flow Information | Nine months ended September 30, (dollars in thousands) 2016 2015 Cash paid during the period for: Income taxes $ 2,729 $ 4,100 Interest $ 6,418 $ 6,071 Noncash investing activities: Transfer of loans to foreclosed real estate $ 251 $ 41 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,157 |
Merger With Madison Bancorp, 26
Merger With Madison Bancorp, Inc. (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Merger With Madison Bancorp, Inc. [Abstract] | |
Summary Of Assets Acquired And Liabilities Assumed Recorded At Estimated Fair Value | (in thousands, except per share data) January 16, 2015 Cash paid for outstanding shares of Madison common stock and outstanding options $ 14,425 Assets Acquired: Cash and due from banks $ 35,516 Securities, available for sale 1,396 Loans 77,228 Premises and equipment 2,601 Other assets 17,567 Total assets acquired 134,308 Liabilities Assumed: Deposits 120,545 Other liabilities 1,639 Total liabilities assumed 122,184 Net goodwill resulting from merger $ 2,301 |
Schedule Of Pro Forma Financial Information | Pro forma for the year ended (in thousands, except per share data) December 31, 2014 Net interest income $ 44,598 Noninterest income 8,246 Net income available to common shareholders 10,972 Pro forma earnings per share, adjusted: Basic $ 1.78 Diluted $ 1.74 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Securities [Abstract] | |
Summary Of Securities Available-For-Sale | Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value September 30, 2016 Debt securities: U.S. Treasury notes $ 9,960 $ 25 $ (48) $ 9,937 U.S. agency 21,054 10 (32) $ 21,032 U.S. agency mortgage-backed, residential 97,368 2,785 0 100,153 State and municipal 68,181 1,077 (7) 69,251 Total debt securities $ 196,563 $ 3,897 $ (87) $ 200,373 December 31, 2015 Debt securities: U.S. agency $ 17,554 $ 0 $ (140) $ 17,414 U.S. agency mortgage-backed, residential 119,266 1,472 (157) 120,581 State and municipal 74,573 937 (35) 75,475 Total debt securities $ 211,393 $ 2,409 $ (332) $ 213,470 |
Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities | Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 19,341 $ 19,412 Due after one year through five years 126,514 129,658 Due after five years through ten years 44,364 44,749 Due after ten years 6,344 6,554 Total debt securities $ 196,563 $ 200,373 |
Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale | Three months ended Nine months ended September 30, September 30, (dollars in thousands) 2016 2015 2016 2015 Realized gains $ 0 $ 121 $ 194 $ 492 Realized losses 0 0 0 0 Net gains $ 0 $ 121 $ 194 $ 492 |
Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time | Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses September 30, 2016 Debt securities: U.S. Treasury notes 1 $ 4,952 $ (48) 0 $ 0 $ 0 1 $ 4,952 $ (48) U.S. agency 2 9,968 (32) 0 0 0 2 9,968 $ (32) State and municipal 13 5,903 (4) 1 503 (3) 14 6,406 $ (7) Total temporarily impaired debt securities, available-for-sale 16 $ 20,823 $ (84) 1 $ 503 $ (3) 17 $ 21,326 $ (87) December 31, 2015 Debt securities: U.S. agency 6 $ 17,414 $ (140) 0 $ 0 $ 0 6 $ 17,414 $ (140) U.S. agency mortgage-backed, residential 8 18,991 (157) 0 0 0 8 18,991 (157) State and municipal 27 11,272 (26) 4 1,886 (9) 31 13,158 (35) Total temporarily impaired debt securities, available-for-sale 41 $ 47,677 $ (323) 4 $ 1,886 $ (9) 45 $ 49,563 $ (332) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Loans [Abstract] | |
Schedule Of Loan Portfolio Composition | September 30, % Total December 31, % Total (dollars in thousands) 2016 Loans 2015 Loans Builder & developer $ 128,996 10.7 $ 133,978 11.9 Commercial real estate investor 229,619 19.0 191,994 17.1 Residential real estate investor 175,768 14.6 161,144 14.3 Hotel/Motel 82,714 6.8 84,171 7.5 Wholesale & retail 88,422 7.3 77,694 6.9 Manufacturing 39,327 3.3 30,325 2.7 Agriculture 48,105 4.0 41,217 3.7 Other 223,954 18.5 215,891 19.2 Total commercial related loans 1,016,905 84.2 936,414 83.4 Residential mortgages 69,845 5.8 70,094 6.2 Home equity 91,468 7.6 86,408 7.7 Other 29,624 2.4 30,295 2.7 Total consumer related loans 190,937 15.8 186,797 16.6 Total loans $ 1,207,842 100.0 $ 1,123,211 100.0 |
Summary Of Loan Risk Ratings By Loan Class | Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total September 30, 2016 Builder & developer $ 118,625 $ 6,445 $ 3,542 $ 384 $ 128,996 Commercial real estate investor 222,173 1,494 5,952 0 229,619 Residential real estate investor 169,863 4,192 1,710 3 175,768 Hotel/Motel 82,353 0 0 361 82,714 Wholesale & retail 79,769 8,653 0 0 88,422 Manufacturing 33,946 4,763 618 0 39,327 Agriculture 46,295 802 0 1,008 48,105 Other 216,411 6,404 876 263 223,954 Total commercial related loans 969,435 32,753 12,698 2,019 1,016,905 Residential mortgage 69,625 0 99 121 69,845 Home equity 91,085 71 0 312 91,468 Other 29,361 72 129 62 29,624 Total consumer related loans 190,071 143 228 495 190,937 Total loans $ 1,159,506 $ 32,896 $ 12,926 $ 2,514 $ 1,207,842 December 31, 2015 Builder & developer $ 122,919 $ 6,775 $ 3,873 $ 411 $ 133,978 Commercial real estate investor 185,621 396 5,957 20 191,994 Residential real estate investor 153,072 6,601 874 597 161,144 Hotel/Motel 83,751 0 0 420 84,171 Wholesale & retail 69,973 7,678 0 43 77,694 Manufacturing 26,705 2,990 630 0 30,325 Agriculture 40,795 0 0 422 41,217 Other 212,971 1,131 855 934 215,891 Total commercial related loans 895,807 25,571 12,189 2,847 936,414 Residential mortgage 69,930 0 97 67 70,094 Home equity 85,690 516 0 202 86,408 Other 29,973 75 130 117 30,295 Total consumer related loans 185,593 591 227 386 186,797 Total loans $ 1,081,400 $ 26,162 $ 12,416 $ 3,233 $ 1,123,211 |
Summary Of Impaired Loans | With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal September 30, 2016 Builder & developer $ 3,542 $ 3,678 $ 384 $ 384 $ 200 $ 3,926 $ 4,062 Commercial real estate investor 5,952 5,967 0 0 0 5,952 5,967 Residential real estate investor 1,713 2,438 0 0 0 1,713 2,438 Hotel/Motel 361 361 0 0 0 361 361 Wholesale & retail 262 262 0 0 0 262 262 Manufacturing 618 618 0 0 0 618 618 Agriculture 636 636 372 372 263 1,008 1,008 Other commercial 956 956 183 298 31 1,139 1,254 Total impaired commercial related loans 14,040 14,916 939 1,054 494 14,979 15,970 Residential mortgage 220 289 0 0 0 220 289 Home equity 312 312 0 0 0 312 312 Other consumer 191 191 0 0 0 191 191 Total impaired consumer related loans 723 792 0 0 0 723 792 Total impaired loans $ 14,763 $ 15,708 $ 939 $ 1,054 $ 494 $ 15,702 $ 16,762 December 31, 2015 Builder & developer $ 4,284 $ 4,917 $ 0 $ 0 $ 0 $ 4,284 $ 4,917 Commercial real estate investor 5,977 5,991 0 0 0 5,977 5,991 Residential real estate investor 649 1,199 822 864 142 1,471 2,063 Hotel/Motel 420 420 0 0 0 420 420 Wholesale & retail 309 309 0 0 0 309 309 Manufacturing 630 630 0 0 0 630 630 Agriculture 0 0 422 422 263 422 422 Other commercial 1,789 1,904 0 0 0 1,789 1,904 Total impaired commercial related loans 14,058 15,370 1,244 1,286 405 15,302 16,656 Residential mortgage 164 188 0 0 0 164 188 Home equity 202 242 0 0 0 202 242 Other consumer 247 265 0 0 0 247 265 Total impaired consumer related loans 613 695 0 0 0 613 695 Total impaired loans $ 14,671 $ 16,065 $ 1,244 $ 1,286 $ 405 $ 15,915 $ 17,351 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three and nine months ended September 30, 2016 and 2015 . With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income Three months ended September 30, 2016 Builder & developer $ 3,722 $ 56 $ 0 $ 192 $ 0 $ 0 $ 3,914 $ 56 $ 0 Commercial real estate investor 5,854 74 0 0 0 0 5,854 74 0 Residential real estate investor 1,086 14 0 255 0 0 1,341 14 0 Hotel/Motel 371 0 0 0 0 0 371 0 0 Wholesale & retail 269 3 0 0 0 0 269 3 0 Manufacturing 620 10 0 0 0 0 620 10 0 Agriculture 636 16 16 376 0 0 1,012 16 16 Other commercial 954 14 0 183 0 0 1,137 14 0 Total impaired commercial related loans 13,512 187 16 1,006 0 0 14,518 187 16 Residential mortgage 253 1 1 0 0 0 253 1 1 Home equity 312 1 1 0 0 0 312 1 1 Other consumer 192 3 1 0 0 0 192 3 1 Total impaired consumer related loans 757 5 3 0 0 0 757 5 3 Total impaired loans $ 14,269 $ 192 $ 19 $ 1,006 $ 0 $ 0 $ 15,275 $ 192 $ 19 Three months ended September 30, 2015 Builder & developer $ 4,128 $ 93 $ 30 $ 1,445 $ 0 $ 0 $ 5,573 $ 93 $ 30 Commercial real estate investor 4,935 83 33 1,106 0 0 6,041 83 33 Residential real estate investor 776 5 0 998 7 0 1,774 12 0 Hotel/Motel 470 6 6 0 0 0 470 6 6 Wholesale & retail 385 4 0 0 0 0 385 4 0 Manufacturing 638 10 0 0 0 0 638 10 0 Agriculture 0 0 0 422 0 0 422 0 0 Other commercial 1,935 14 0 0 0 0 1,935 14 0 Total impaired commercial related loans 13,267 215 69 3,971 7 0 17,238 222 69 Residential mortgage 159 1 0 0 0 0 159 1 0 Home equity 172 0 0 0 0 0 172 0 0 Other consumer 343 4 1 0 0 0 343 4 1 Total impaired consumer related loans 674 5 1 0 0 0 674 5 1 Total impaired loans $ 13,941 $ 220 $ 70 $ 3,971 $ 7 $ 0 $ 17,912 $ 227 $ 70 With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income Nine months ended September 30, 2016 Builder & developer $ 3,917 $ 174 $ 0 $ 96 $ 0 $ 0 $ 4,013 $ 174 $ 0 Commercial real estate investor 5,876 224 0 0 0 0 5,876 224 0 Residential real estate investor 821 38 0 536 0 0 1,357 38 0 Hotel/Motel 393 2 2 0 0 0 393 2 2 Wholesale & retail 285 8 0 0 0 0 285 8 0 Manufacturing 624 29 0 0 0 0 624 29 0 Agriculture 318 17 17 391 0 0 709 17 17 Other commercial 1,332 62 20 91 0 0 1,423 62 20 Total impaired commercial related loans 13,566 554 39 1,114 0 0 14,680 554 39 Residential mortgage 246 1 1 0 0 0 246 1 1 Home equity 295 3 2 0 0 0 295 3 2 Other consumer 226 9 4 0 0 0 226 9 4 Total impaired consumer related loans 767 13 7 0 0 0 767 13 7 Total impaired loans $ 14,333 $ 567 $ 46 $ 1,114 $ 0 $ 0 $ 15,447 $ 567 $ 46 Nine months ended September 30, 2015 Builder & developer $ 4,037 $ 214 $ 32 $ 1,745 $ 0 $ 0 $ 5,782 $ 214 $ 32 Commercial real estate investor 4,704 562 416 1,491 0 0 6,195 562 416 Residential real estate investor 926 19 1 897 19 0 1,823 38 1 Hotel/Motel 492 11 11 0 0 0 492 11 11 Wholesale & retail 389 14 2 0 0 0 389 14 2 Manufacturing 645 30 0 0 0 0 645 30 0 Agriculture 0 0 0 425 13 13 425 13 13 Other commercial 1,617 81 31 118 0 0 1,735 81 31 Total impaired commercial related loans 12,810 931 493 4,676 32 13 17,486 963 506 Residential mortgage 167 4 0 0 0 0 167 4 0 Home equity 149 0 0 0 0 0 149 0 0 Other consumer 367 13 6 0 0 0 367 13 6 Total impaired consumer related loans 683 17 6 0 0 0 683 17 6 Total impaired loans $ 13,493 $ 948 $ 499 $ 4,676 $ 32 $ 13 $ 18,169 $ 980 $ 512 |
Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class | ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans September 30, 2016 Builder & developer $ 0 $ 0 $ 0 $ 384 $ 384 $ 128,612 $ 128,996 Commercial real estate investor 211 0 0 0 211 229,408 229,619 Residential real estate investor 132 203 93 3 431 175,337 175,768 Hotel/Motel 0 0 0 361 361 82,353 82,714 Wholesale & retail 134 0 0 0 134 88,288 88,422 Manufacturing 0 0 0 0 0 39,327 39,327 Agriculture 0 0 0 1,008 1,008 47,097 48,105 Other 0 0 0 263 263 223,691 223,954 Total commercial related loans 477 203 93 2,019 2,792 1,014,113 1,016,905 Residential mortgage 0 433 68 121 622 69,223 69,845 Home equity 235 40 0 312 587 90,881 91,468 Other 67 132 12 62 273 29,351 29,624 Total consumer related loans 302 605 80 495 1,482 189,455 190,937 Total loans $ 779 $ 808 $ 173 $ 2,514 $ 4,274 $ 1,203,568 $ 1,207,842 December 31, 2015 Builder & developer $ 398 $ 308 $ 0 $ 411 $ 1,117 $ 132,861 $ 133,978 Commercial real estate investor 216 396 0 20 632 191,362 191,994 Residential real estate investor 0 304 0 597 901 160,243 161,144 Hotel/Motel 0 0 0 420 420 83,751 84,171 Wholesale & retail 0 119 0 43 162 77,532 77,694 Manufacturing 0 0 0 0 0 30,325 30,325 Agriculture 0 0 0 422 422 40,795 41,217 Other 324 0 198 934 1,456 214,435 215,891 Total commercial related loans 938 1,127 198 2,847 5,110 931,304 936,414 Residential mortgage 0 0 249 67 316 69,778 70,094 Home equity 485 71 0 202 758 85,650 86,408 Other 171 163 37 117 488 29,807 30,295 Total consumer related loans 656 234 286 386 1,562 185,235 186,797 Total loans $ 1,594 $ 1,361 $ 484 $ 3,233 $ 6,672 $ 1,116,539 $ 1,123,211 |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Allowance For Loan Losses [Abstract] | |
Summary Of Allowance For Loan Losses By Loan Segment And Class | Allowance for Loan Losses July 1, 2016 September 30, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,033 $ (85) $ 0 $ 141 $ 2,089 Commercial real estate investor 2,586 0 0 125 2,711 Residential real estate investor 2,415 0 0 2 2,417 Hotel/Motel 844 0 0 (20) 824 Wholesale & retail 697 0 0 112 809 Manufacturing 309 0 0 63 372 Agriculture 568 0 0 24 592 Other commercial 2,107 0 1 134 2,242 Total commercial related loans 11,559 (85) 1 581 12,056 Residential mortgage 65 (45) 0 57 77 Home equity 167 0 0 5 172 Other consumer 209 (8) 4 (11) 194 Total consumer related loans 441 (53) 4 51 443 Unallocated 1,558 0 0 168 1,726 Total $ 13,558 $ (138) $ 5 $ 800 $ 14,225 Allowance for Loan Losses July 1, 2015 September 30, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,906 $ 0 $ 0 $ 234 $ 2,140 Commercial real estate investor 2,630 0 0 (530) 2,100 Residential real estate investor 1,384 (42) 0 225 1,567 Hotel/Motel 702 0 0 183 885 Wholesale & retail 586 0 2 105 693 Manufacturing 192 0 0 52 244 Agriculture 509 0 0 18 527 Other commercial 1,523 0 0 372 1,895 Total commercial related loans 9,432 (42) 2 659 10,051 Residential mortgage 66 0 0 3 69 Home equity 158 0 0 1 159 Other consumer 153 (49) 3 70 177 Total consumer related loans 377 (49) 3 74 405 Unallocated 2,157 0 0 (233) 1,924 Total $ 11,966 $ (91) $ 5 $ 500 $ 12,380 Allowance for Loan Losses January 1, 2016 September 30, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,934 $ (85) $ 0 $ 240 $ 2,089 Commercial real estate investor 2,337 0 0 374 2,711 Residential real estate investor 2,101 (487) 2 801 2,417 Hotel/Motel 837 0 0 (13) 824 Wholesale & retail 701 0 2 106 809 Manufacturing 223 (140) 0 289 372 Agriculture 548 0 0 44 592 Other commercial 2,054 (59) 1 246 2,242 Total commercial related loans 10,735 (771) 5 2,087 12,056 Residential mortgage 67 (69) 0 79 77 Home equity 161 0 0 11 172 Other consumer 261 (101) 57 (23) 194 Total consumer related loans 489 (170) 57 67 443 Unallocated 1,480 0 0 246 1,726 Total $ 12,704 $ (941) $ 62 $ 2,400 $ 14,225 Allowance for Loan Losses January 1, 2015 September 30, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,236 $ 0 $ 0 $ (96) $ 2,140 Commercial real estate investor 2,204 0 0 (104) 2,100 Residential real estate investor 1,484 (585) 2 666 1,567 Hotel/Motel 671 0 0 214 885 Wholesale & retail 691 0 19 (17) 693 Manufacturing 201 0 0 43 244 Agriculture 329 0 0 198 527 Other commercial 1,554 (400) 0 741 1,895 Total commercial related loans 9,370 (985) 21 1,645 10,051 Residential mortgage 64 (40) 21 24 69 Home equity 176 (40) 0 23 159 Other consumer 216 (81) 22 20 177 Total consumer related loans 456 (161) 43 67 405 Unallocated 1,336 0 0 588 1,924 Total $ 11,162 $ (1,146) $ 64 $ 2,300 $ 12,380 |
Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment | Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance September 30, 2016 Builder & developer $ 200 $ 1,889 $ 2,089 $ 3,926 $ 125,070 $ 128,996 Commercial real estate investor 0 2,711 2,711 5,952 223,667 229,619 Residential real estate investor 0 2,417 2,417 1,713 174,055 175,768 Hotel/Motel 0 824 824 361 82,353 82,714 Wholesale & retail 0 809 809 262 88,160 88,422 Manufacturing 0 372 372 618 38,709 39,327 Agriculture 263 329 592 1,008 47,097 48,105 Other commercial 31 2,211 2,242 1,139 222,815 223,954 Total commercial related 494 11,562 12,056 14,979 1,001,926 1,016,905 Residential mortgage 0 77 77 220 69,625 69,845 Home equity 0 172 172 312 91,156 91,468 Other consumer 0 194 194 191 29,433 29,624 Total consumer related 0 443 443 723 190,214 190,937 Unallocated 0 1,726 1,726 - - - Total $ 494 $ 13,731 $ 14,225 $ 15,702 $ 1,192,140 $ 1,207,842 December 31, 2015 Builder & developer $ 0 $ 1,934 $ 1,934 $ 4,284 $ 129,694 $ 133,978 Commercial real estate investor 0 2,337 2,337 5,977 186,017 191,994 Residential real estate investor 142 1,959 2,101 1,471 159,673 161,144 Hotel/Motel 0 837 837 420 83,751 84,171 Wholesale & retail 0 701 701 309 77,385 77,694 Manufacturing 0 223 223 630 29,695 30,325 Agriculture 263 285 548 422 40,795 41,217 Other commercial 0 2,054 2,054 1,789 214,102 215,891 Total commercial related 405 10,330 10,735 15,302 921,112 936,414 Residential mortgage 0 67 67 164 69,930 70,094 Home equity 0 161 161 202 86,206 86,408 Other consumer 0 261 261 247 30,048 30,295 Total consumer related 0 489 489 613 186,184 186,797 Unallocated 0 1,480 1,480 - - - Total $ 405 $ 12,299 $ 12,704 $ 15,915 $ 1,107,296 $ 1,123,211 September 30, 2015 Builder & developer $ 495 $ 1,645 $ 2,140 $ 5,461 $ 128,356 $ 133,817 Commercial real estate investor 0 2,100 2,100 6,032 166,773 172,805 Residential real estate investor 142 1,425 1,567 1,602 121,080 122,682 Hotel/Motel 0 885 885 446 84,298 84,744 Wholesale & retail 0 693 693 383 76,448 76,831 Manufacturing 0 244 244 636 32,469 33,105 Agriculture 263 264 527 422 37,868 38,290 Other commercial 0 1,895 1,895 1,937 201,713 203,650 Total commercial related 900 9,151 10,051 16,919 849,005 865,924 Residential mortgage 0 69 69 165 72,914 73,079 Home equity 0 159 159 203 84,714 84,917 Other consumer 0 177 177 306 31,423 31,729 Total consumer related 0 405 405 674 189,051 189,725 Unallocated 0 1,924 1,924 - - - Total $ 900 $ 11,480 $ 12,380 $ 17,593 $ 1,038,056 $ 1,055,649 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Deposits [Abstract] | |
Schedule Of Composition Of Deposits | September 30, December 31, (dollars in thousands) 2016 2015 Noninterest bearing demand $ 187,455 $ 162,982 NOW 123,845 102,943 Money market 410,806 360,983 Savings 76,827 69,646 Time deposits less than $100,000 245,560 238,392 Time deposits $100,000 to $250,000 129,963 122,730 Time deposits $250,000 or more 47,639 36,473 Total deposits $ 1,222,095 $ 1,094,149 |
Short-Term Borrowings And Lon31
Short-Term Borrowings And Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Summary Of Long-Term Debt | September 30, December 31, (dollars in thousands) 2016 2015 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due July 2016 , 2.35% 0 5,000 Due September 2016 , 1.18% 0 10,000 Due October 2016 , 1.06% 10,000 10,000 Due October 2016 , 1.10% 10,000 10,000 Due April 2017 , 0.97% 10,000 10,000 Due November 2017 , 1.19% 5,000 5,000 Due March 2018 , 1.17% 10,000 10,000 Due June 2018 , 1.87% 5,000 5,000 Due November 2018 , 1.62% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due June 2019 , 1.64% 5,000 5,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2021 , 2.14% 15,000 15,000 Total FHLBP 95,000 110,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 2.87% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 2.22% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total long-term debt $ 105,310 $ 120,310 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Regulatory Matters [Abstract] | |
Schedule Of Risk-Based Capital Ratios And Leverage Ratios | Minimum for Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at September 30, 2016 Capital ratios: Common equity Tier 1 $ 150,485 12.18 % $ 63,324 5.125 % n/a n/a Tier 1 risk based 160,485 12.99 81,858 6.625 n/a n/a Total risk based 174,710 14.14 106,569 8.625 n/a n/a Leverage 160,485 10.53 60,967 4.00 n/a n/a at December 31, 2015 Capital ratios: Common equity Tier 1 $ 143,456 12.56 % $ 51,395 4.50 % n/a n/a Tier 1 risk based 165,456 14.49 68,527 6.00 n/a n/a Total risk based 178,160 15.60 91,370 8.00 n/a n/a Leverage 165,456 11.73 56,398 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at September 30, 2016 Capital ratios: Common equity Tier 1 $ 156,897 12.73 % $ 63,151 5.125 % $ 80,094 6.50 % Tier 1 risk based 156,897 12.73 81,634 6.625 98,577 8.00 Total risk based 171,122 13.89 106,279 8.625 123,222 10.00 Leverage 156,897 10.32 60,828 4.00 76,035 5.00 at December 31, 2015 Capital ratios: Common equity Tier 1 $ 149,073 13.10 % $ 51,227 4.50 % $ 73,994 6.50 % Tier 1 risk based 149,073 13.10 68,302 6.00 91,070 8.00 Total risk based 161,777 14.21 91,070 8.00 113,837 10.00 Leverage 149,073 10.60 56,248 4.00 70,310 5.00 (1) Minimum amounts and ratios as of September 30, 2016 include the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. (2) To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Fair Value Of Assets And Liab33
Fair Value Of Assets And Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Of Assets And Liabilities [Abstract] | |
Schedule Of Assets Measured At Fair Value On Recurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs September 30, 2016 Securities available-for-sale: U.S. Treasury notes $ 9,937 $ 9,937 $ 0 $ 0 U.S. agency 21,032 0 21,032 0 U.S. agency mortgage-backed, residential 100,153 0 100,153 0 State and municipal 69,251 0 69,251 0 December 31, 2015 Securities available-for-sale: U.S. agency $ 17,414 $ 0 $ 17,414 $ 0 U.S. agency mortgage-backed, residential 120,581 0 120,581 0 State and municipal 75,475 0 75,475 0 |
Schedule Of Assets Measured At Fair Value On Nonrecurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs September 30, 2016 Impaired loans $ 570 $ 0 $ 0 $ 570 Foreclosed real estate 1,630 0 0 1,630 Mortgage servicing rights 209 0 0 209 December 31, 2015 Impaired loans $ 1,846 $ 0 $ 0 $ 1,846 Foreclosed real estate 2,003 0 0 2,003 |
Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis | Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average September 30, 2016 Impaired loans $ 570 Appraisal (1) Appraisal adjustments (2) 15% - 25% 24% Foreclosed real estate 1,630 Appraisal (1) Appraisal adjustments (2) 9% - 19% 19% Mortgage servicing rights 209 Multiple of annual Estimated prepayment speed 231% - 405% 378% service fee based on rate and term December 31, 2015 Impaired loans $ 1,846 Appraisal (1) Appraisal adjustments (2) 15% - 25% 16% Foreclosed real estate 2,003 Appraisal (1) Appraisal adjustments (2) 7% - 38% 34% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisals may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs September 30, 2016 Financial assets Cash and cash equivalents $ 46,135 $ 46,135 $ 46,135 $ 0 $ 0 Securities available-for-sale 200,373 200,373 9,937 190,436 0 Restricted investment in bank stocks 4,526 4,526 0 4,526 0 Loans held for sale 3,318 3,422 0 3,422 0 Loans, net 1,193,617 1,202,404 0 0 1,202,404 Interest receivable 3,614 3,614 0 3,614 0 Mortgage servicing rights 209 209 0 0 209 Financial liabilities Deposits $ 1,222,095 $ 1,223,310 $ 0 $ 1,223,310 $ 0 Short-term borrowings 31,061 31,061 0 31,061 0 Long-term debt 105,310 103,213 0 95,995 7,218 Interest payable 468 468 0 468 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2015 Financial assets Cash and cash equivalents $ 57,485 $ 57,485 $ 57,485 $ 0 $ 0 Securities available-for-sale 213,470 213,470 0 213,470 0 Restricted investment in bank stocks 5,028 5,028 0 5,028 0 Loans held for sale 564 574 0 574 0 Loans, net 1,110,507 1,119,758 0 0 1,119,758 Interest receivable 4,003 4,003 0 4,003 0 Financial liabilities Deposits $ 1,094,149 $ 1,092,819 $ 0 $ 1,092,819 $ 0 Short-term borrowings 74,510 74,510 0 74,510 0 Long-term debt 120,310 117,041 0 110,195 6,846 Interest payable 468 468 0 468 0 Off-balance sheet instruments 0 0 0 0 0 |
Assets And Liabilities Subjec34
Assets And Liabilities Subject To Offsetting (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Schedule Of Securities Sold Under Agreements To Repurchase | Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S. agency Cash Recognized Statements the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities of Condition of Condition residential U.S. agency Pledged Amount September 30, 2016 Repurchase Agreements $ 31,061 $ 0 $ 31,061 $ (25,837) (5,224) $ 0 $ 0 December 31, 2015 Repurchase Agreements $ 74,510 $ 0 $ 74,510 (63,162) (11,348) $ 0 $ 0 |
Summary Of Significant Accoun35
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | Oct. 11, 2016 | Dec. 08, 2015 | Sep. 30, 2016 | Dec. 31, 2015 |
Significant Accounting Policies [Line Items] | ||||
Number of days for accrual of interest on the payment of principal or interest | 90 days | |||
Foreclosed real estate, net of allowance | $ 2,674 | $ 2,913 | ||
MSR asset | 209 | $ 0 | ||
Mortgage service rights, valuation allowance | 3 | |||
Common stock dividend rate | 5.00% | |||
Subsequent Event [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Common stock dividend rate | 5.00% | |||
Total Consumer Related Loans [Member] | Residential [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Foreclosed real estate, recorded investment | $ 230 | |||
Core Deposits [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Intangible assets, amortization period | 10 years |
Summary Of Significant Accoun36
Summary Of Significant Accounting Policies (Summary Of Acquired Impaired Loans) (Details) - Madison Bancorp, Inc. [Member] $ in Thousands | Jan. 16, 2015USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Contractually required principal and interest at acquisition | $ 1,961 |
Contractual cash flows not expected to be collected | 1,185 |
Expected cash flows at acquisition | 776 |
Interest component of expected cash flows | 160 |
Basis in acquired loans at acquisition - estimated fair value | $ 616 |
Summary Of Significant Accoun37
Summary Of Significant Accounting Policies (Schedule Of Computation Of Net Income Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | ||||
Net income available to common shareholders | $ 3,403 | $ 2,981 | $ 9,244 | $ 8,275 |
Weighted average shares outstanding (basic) | 8,378 | 6,491 | 8,367 | 6,464 |
Effect of dilutive stock options | 70 | 63 | 68 | 72 |
Weighted average shares outstanding (diluted) | 8,448 | 6,554 | 8,435 | 6,536 |
Basic earnings per common share | $ 0.41 | $ 0.46 | $ 1.10 | $ 1.28 |
Diluted earnings per common share | $ 0.40 | $ 0.45 | $ 1.09 | $ 1.27 |
Anti-dilutive stock options excluded from the computation of earnings per share | 57 | 32 | 69 | 33 |
Summary Of Significant Accoun38
Summary Of Significant Accounting Policies (Schedule Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Income taxes | $ 2,729 | $ 4,100 |
Interest | 6,418 | 6,071 |
Transfer of loans to foreclosed real estate | 251 | 41 |
Increase in other liabilities for purchase of securities settling after quarter end | $ 0 | $ 1,157 |
Merger With Madison Bancorp, 39
Merger With Madison Bancorp, Inc. (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 16, 2015 | Sep. 30, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||
Goodwill | $ 2,301 | $ 2,301 | |
Madison Bancorp, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition agreement date | Jul. 22, 2014 | ||
Acquisition completion date | Jan. 16, 2015 | ||
Common stock converted into the right to receive cash per share | $ 22.90 | ||
Total consideration paid | $ 14,425 | ||
Common stock purchased | 608,116 | ||
Number of shares exercised | 41,270 | ||
Average exercise price per share | $ 10.81 | ||
Fair value of total assets acquired | $ 134,308 | ||
Securities subsequently sold | 1,396 | ||
Other assets | 17,567 | ||
Receivables related to investment securities | 15,256 | ||
Goodwill | 2,301 | ||
Madison Bancorp, Inc. [Member] | Core Deposits [Member] | |||
Business Acquisition [Line Items] | |||
Intangibles | $ 39 |
Merger With Madison Bancorp, 40
Merger With Madison Bancorp, Inc. (Summary Of Assets Acquired And Liabilities Assumed Recorded At Estimated Fair Value) (Details) - USD ($) $ in Thousands | Jan. 16, 2015 | Sep. 30, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||
Net goodwill resulting from merger | $ 2,301 | $ 2,301 | |
Madison Bancorp, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Cash paid for outstanding shares of Madison common stock and outstanding options | $ 14,425 | ||
Cash and due from banks | 35,516 | ||
Securities, available for sale | 1,396 | ||
Loans | 77,228 | ||
Premises and equipment | 2,601 | ||
Other assets | 17,567 | ||
Total assets acquired | 134,308 | ||
Deposits | 120,545 | ||
Other liabilities | 1,639 | ||
Total liabilities assumed | 122,184 | ||
Net goodwill resulting from merger | $ 2,301 |
Merger With Madison Bancorp, 41
Merger With Madison Bancorp, Inc. (Schedule Of Pro Forma Financial Information) (Details) - Madison Bancorp, Inc. [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2014USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Net interest income | $ 44,598 |
Noninterest income | 8,246 |
Net income available to common shareholders | $ 10,972 |
Pro forma earnings per share, adjusted: Basic | $ / shares | $ 1.78 |
Pro forma earnings per share, adjusted: Diluted | $ / shares | $ 1.74 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Carrying value of securities pledged as collateral | $ 162,501 | $ 186,097 |
Geographic Concentration Risk [Member] | Pennsylvania [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value of municipal bond portfolio concentration percentage | 71.00% |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | $ 196,563 | $ 211,393 |
Total debt securities, Gross Unrealized Gains | 3,897 | 2,409 |
Total debt securities, Gross Unrealized Losses | (87) | (332) |
Total debt securities, Fair Value | 200,373 | 213,470 |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 9,960 | |
Total debt securities, Gross Unrealized Gains | 25 | |
Total debt securities, Gross Unrealized Losses | (48) | |
Total debt securities, Fair Value | 9,937 | |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 21,054 | 17,554 |
Total debt securities, Gross Unrealized Gains | 10 | 0 |
Total debt securities, Gross Unrealized Losses | (32) | (140) |
Total debt securities, Fair Value | 21,032 | 17,414 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 97,368 | 119,266 |
Total debt securities, Gross Unrealized Gains | 2,785 | 1,472 |
Total debt securities, Gross Unrealized Losses | 0 | (157) |
Total debt securities, Fair Value | 100,153 | 120,581 |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 68,181 | 74,573 |
Total debt securities, Gross Unrealized Gains | 1,077 | 937 |
Total debt securities, Gross Unrealized Losses | (7) | (35) |
Total debt securities, Fair Value | $ 69,251 | $ 75,475 |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Securities [Abstract] | ||
Due in one year or less, Available-for-sale, Amortized Cost | $ 19,341 | |
Due after one year through five years, Available-for-sale, Amortized Cost | 126,514 | |
Due after five years through ten years, Available-for-sale, Amortized Cost | 44,364 | |
Due after ten years, Available-for-sale, Amortized Cost | 6,344 | |
Total debt securities, Amortized Cost | 196,563 | $ 211,393 |
Due in one year or less, Available-for-sale, Fair Value | 19,412 | |
Due after one year through five years, Available-for-sale, Fair Value | 129,658 | |
Due after five years through ten years, Available-for-sale, Fair Value | 44,749 | |
Due after ten years, Available-for-sale, Fair Value | 6,554 | |
Total debt securities, Fair Value | $ 200,373 | $ 213,470 |
Securities (Schedule Of Gross R
Securities (Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Securities [Abstract] | ||||
Realized gains | $ 0 | $ 121 | $ 194 | $ 492 |
Realized losses | 0 | 0 | 0 | 0 |
Net gains | $ 0 | $ 121 | $ 194 | $ 492 |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time) (Details) $ in Thousands | Sep. 30, 2016USD ($)security | Dec. 31, 2015USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 16 | 41 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 20,823 | $ 47,677 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (84) | $ (323) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 1 | 4 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 503 | $ 1,886 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (3) | $ (9) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 17 | 45 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 21,326 | $ 49,563 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (87) | $ (332) |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 1 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 4,952 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (48) | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 1 | |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 4,952 | |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (48) | |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 2 | 6 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 9,968 | $ 17,414 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (32) | $ (140) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 2 | 6 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 9,968 | $ 17,414 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (32) | $ (140) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 8 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 18,991 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (157) | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 8 | |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 18,991 | |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (157) | |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 13 | 27 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 5,903 | $ 11,272 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (4) | $ (26) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 1 | 4 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 503 | $ 1,886 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (3) | $ (9) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 14 | 31 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 6,406 | $ 13,158 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (7) | $ (35) |
Restricted Investment In Bank47
Restricted Investment In Bank Stocks (Details) | 9 Months Ended |
Sep. 30, 2016 | |
FHLBP [Member] | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |
Maximum percent of member's total capital stock outstanding available for repurchase | 5.00% |
Loans (Narrative) (Details)
Loans (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016loan | Sep. 30, 2015loan | Sep. 30, 2016USD ($)segmentloanitem | Sep. 30, 2015loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of loan portfolio segments | segment | 2 | |||
Maximum amount of consumer and commercial loans that use third-party credit scoring software models for risk rating purposes | $ | $ 500 | |||
Number of risk ratings used to grade loans | item | 10 | |||
Number of loans modified under TDRs | loan | 0 | 0 | 0 | 0 |
Number of defaults | loan | 0 | 0 | ||
Lowest Risk [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Number of risk ratings used to grade loans | item | 7 |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,207,842 | $ 1,123,211 | $ 1,055,649 |
% Total Loans | 100.00% | 100.00% | |
Total Commercial Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,016,905 | $ 936,414 | 865,924 |
% Total Loans | 84.20% | 83.40% | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 128,996 | $ 133,978 | 133,817 |
% Total Loans | 10.70% | 11.90% | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 229,619 | $ 191,994 | 172,805 |
% Total Loans | 19.00% | 17.10% | |
Total Commercial Related Loans [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 175,768 | $ 161,144 | 122,682 |
% Total Loans | 14.60% | 14.30% | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 82,714 | $ 84,171 | 84,744 |
% Total Loans | 6.80% | 7.50% | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 88,422 | $ 77,694 | 76,831 |
% Total Loans | 7.30% | 6.90% | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 39,327 | $ 30,325 | 33,105 |
% Total Loans | 3.30% | 2.70% | |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 48,105 | $ 41,217 | 38,290 |
% Total Loans | 4.00% | 3.70% | |
Total Commercial Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 223,954 | $ 215,891 | 203,650 |
% Total Loans | 18.50% | 19.20% | |
Total Consumer Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 190,937 | $ 186,797 | 189,725 |
% Total Loans | 15.80% | 16.60% | |
Total Consumer Related Loans [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 69,845 | $ 70,094 | 73,079 |
% Total Loans | 5.80% | 6.20% | |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 91,468 | $ 86,408 | 84,917 |
% Total Loans | 7.60% | 7.70% | |
Total Consumer Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 29,624 | $ 30,295 | $ 31,729 |
% Total Loans | 2.40% | 2.70% |
Loans (Summary Of Loan Risk Rat
Loans (Summary Of Loan Risk Ratings By Loan Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 1,207,842 | $ 1,123,211 | $ 1,055,649 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,159,506 | 1,081,400 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 32,896 | 26,162 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 12,926 | 12,416 | |
Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,514 | 3,233 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,016,905 | 936,414 | 865,924 |
Total Commercial Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 969,435 | 895,807 | |
Total Commercial Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 32,753 | 25,571 | |
Total Commercial Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 12,698 | 12,189 | |
Total Commercial Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,019 | 2,847 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 128,996 | 133,978 | 133,817 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 118,625 | 122,919 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 6,445 | 6,775 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 3,542 | 3,873 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 384 | 411 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 229,619 | 191,994 | 172,805 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 222,173 | 185,621 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,494 | 396 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 5,952 | 5,957 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 20 | |
Total Commercial Related Loans [Member] | Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 175,768 | 161,144 | 122,682 |
Total Commercial Related Loans [Member] | Residential [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 169,863 | 153,072 | |
Total Commercial Related Loans [Member] | Residential [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,192 | 6,601 | |
Total Commercial Related Loans [Member] | Residential [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,710 | 874 | |
Total Commercial Related Loans [Member] | Residential [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 3 | 597 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 82,714 | 84,171 | 84,744 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 82,353 | 83,751 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 361 | 420 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 88,422 | 77,694 | 76,831 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 79,769 | 69,973 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 8,653 | 7,678 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 43 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 39,327 | 30,325 | 33,105 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 33,946 | 26,705 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,763 | 2,990 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 618 | 630 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 48,105 | 41,217 | 38,290 |
Total Commercial Related Loans [Member] | Agriculture [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 46,295 | 40,795 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 802 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,008 | 422 | |
Total Commercial Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 223,954 | 215,891 | 203,650 |
Total Commercial Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 216,411 | 212,971 | |
Total Commercial Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 6,404 | 1,131 | |
Total Commercial Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 876 | 855 | |
Total Commercial Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 263 | 934 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 190,937 | 186,797 | 189,725 |
Total Consumer Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 190,071 | 185,593 | |
Total Consumer Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 143 | 591 | |
Total Consumer Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 228 | 227 | |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 495 | 386 | |
Total Consumer Related Loans [Member] | Residential [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 69,845 | 70,094 | 73,079 |
Total Consumer Related Loans [Member] | Residential [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 69,625 | 69,930 | |
Total Consumer Related Loans [Member] | Residential [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Consumer Related Loans [Member] | Residential [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 99 | 97 | |
Total Consumer Related Loans [Member] | Residential [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 121 | 67 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 91,468 | 86,408 | 84,917 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 91,085 | 85,690 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 71 | 516 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 312 | 202 | |
Total Consumer Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 29,624 | 30,295 | $ 31,729 |
Total Consumer Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 29,361 | 29,973 | |
Total Consumer Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 72 | 75 | |
Total Consumer Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 129 | 130 | |
Total Consumer Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 62 | $ 117 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | $ 14,763 | $ 14,671 |
Impaired Loans, With No Allowance, Unpaid Principal | 15,708 | 16,065 |
Impaired Loans, With A Related Allowance, Recorded Investment | 939 | 1,244 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,054 | 1,286 |
Impaired Loans, With A Related Allowance, Related Allowance | 494 | 405 |
Impaired Loans, Total, Recorded Investment | 15,702 | 15,915 |
Impaired Loans, Total, Unpaid Principal | 16,762 | 17,351 |
Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 14,040 | 14,058 |
Impaired Loans, With No Allowance, Unpaid Principal | 14,916 | 15,370 |
Impaired Loans, With A Related Allowance, Recorded Investment | 939 | 1,244 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,054 | 1,286 |
Impaired Loans, With A Related Allowance, Related Allowance | 494 | 405 |
Impaired Loans, Total, Recorded Investment | 14,979 | 15,302 |
Impaired Loans, Total, Unpaid Principal | 15,970 | 16,656 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 3,542 | 4,284 |
Impaired Loans, With No Allowance, Unpaid Principal | 3,678 | 4,917 |
Impaired Loans, With A Related Allowance, Recorded Investment | 384 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 384 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 200 | 0 |
Impaired Loans, Total, Recorded Investment | 3,926 | 4,284 |
Impaired Loans, Total, Unpaid Principal | 4,062 | 4,917 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 5,952 | 5,977 |
Impaired Loans, With No Allowance, Unpaid Principal | 5,967 | 5,991 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 5,952 | 5,977 |
Impaired Loans, Total, Unpaid Principal | 5,967 | 5,991 |
Total Commercial Related Loans [Member] | Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,713 | 649 |
Impaired Loans, With No Allowance, Unpaid Principal | 2,438 | 1,199 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 822 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 864 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 142 |
Impaired Loans, Total, Recorded Investment | 1,713 | 1,471 |
Impaired Loans, Total, Unpaid Principal | 2,438 | 2,063 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 361 | 420 |
Impaired Loans, With No Allowance, Unpaid Principal | 361 | 420 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 361 | 420 |
Impaired Loans, Total, Unpaid Principal | 361 | 420 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 262 | 309 |
Impaired Loans, With No Allowance, Unpaid Principal | 262 | 309 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 262 | 309 |
Impaired Loans, Total, Unpaid Principal | 262 | 309 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 618 | 630 |
Impaired Loans, With No Allowance, Unpaid Principal | 618 | 630 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 618 | 630 |
Impaired Loans, Total, Unpaid Principal | 618 | 630 |
Total Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 636 | 0 |
Impaired Loans, With No Allowance, Unpaid Principal | 636 | 0 |
Impaired Loans, With A Related Allowance, Recorded Investment | 372 | 422 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 372 | 422 |
Impaired Loans, With A Related Allowance, Related Allowance | 263 | 263 |
Impaired Loans, Total, Recorded Investment | 1,008 | 422 |
Impaired Loans, Total, Unpaid Principal | 1,008 | 422 |
Total Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 956 | 1,789 |
Impaired Loans, With No Allowance, Unpaid Principal | 956 | 1,904 |
Impaired Loans, With A Related Allowance, Recorded Investment | 183 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 298 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 31 | 0 |
Impaired Loans, Total, Recorded Investment | 1,139 | 1,789 |
Impaired Loans, Total, Unpaid Principal | 1,254 | 1,904 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 723 | 613 |
Impaired Loans, With No Allowance, Unpaid Principal | 792 | 695 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 723 | 613 |
Impaired Loans, Total, Unpaid Principal | 792 | 695 |
Total Consumer Related Loans [Member] | Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 220 | 164 |
Impaired Loans, With No Allowance, Unpaid Principal | 289 | 188 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 220 | 164 |
Impaired Loans, Total, Unpaid Principal | 289 | 188 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 312 | 202 |
Impaired Loans, With No Allowance, Unpaid Principal | 312 | 242 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 312 | 202 |
Impaired Loans, Total, Unpaid Principal | 312 | 242 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 191 | 247 |
Impaired Loans, With No Allowance, Unpaid Principal | 191 | 265 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 191 | 247 |
Impaired Loans, Total, Unpaid Principal | $ 191 | $ 265 |
Loans (Summary Of Average Impai
Loans (Summary Of Average Impaired Loans And Related Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | $ 14,269 | $ 13,941 | $ 14,333 | $ 13,493 |
Impaired Loans, With No Related Allowance, Total Interest Income | 192 | 220 | 567 | 948 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 19 | 70 | 46 | 499 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,006 | 3,971 | 1,114 | 4,676 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 7 | 0 | 32 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 15,275 | 17,912 | 15,447 | 18,169 |
Impaired Loans, Total, Total Interest Income | 192 | 227 | 567 | 980 |
Impaired Loans, Total, Cash Basis Interest Income | 19 | 70 | 46 | 512 |
Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 13,512 | 13,267 | 13,566 | 12,810 |
Impaired Loans, With No Related Allowance, Total Interest Income | 187 | 215 | 554 | 931 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 16 | 69 | 39 | 493 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,006 | 3,971 | 1,114 | 4,676 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 7 | 0 | 32 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 14,518 | 17,238 | 14,680 | 17,486 |
Impaired Loans, Total, Total Interest Income | 187 | 222 | 554 | 963 |
Impaired Loans, Total, Cash Basis Interest Income | 16 | 69 | 39 | 506 |
Total Consumer Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 757 | 674 | 767 | 683 |
Impaired Loans, With No Related Allowance, Total Interest Income | 5 | 5 | 13 | 17 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 3 | 1 | 7 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 757 | 674 | 767 | 683 |
Impaired Loans, Total, Total Interest Income | 5 | 5 | 13 | 17 |
Impaired Loans, Total, Cash Basis Interest Income | 3 | 1 | 7 | 6 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 3,722 | 4,128 | 3,917 | 4,037 |
Impaired Loans, With No Related Allowance, Total Interest Income | 56 | 93 | 174 | 214 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 30 | 0 | 32 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 192 | 1,445 | 96 | 1,745 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 3,914 | 5,573 | 4,013 | 5,782 |
Impaired Loans, Total, Total Interest Income | 56 | 93 | 174 | 214 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 30 | 0 | 32 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 5,854 | 4,935 | 5,876 | 4,704 |
Impaired Loans, With No Related Allowance, Total Interest Income | 74 | 83 | 224 | 562 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 33 | 0 | 416 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 1,106 | 0 | 1,491 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 5,854 | 6,041 | 5,876 | 6,195 |
Impaired Loans, Total, Total Interest Income | 74 | 83 | 224 | 562 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 33 | 0 | 416 |
Residential [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,086 | 776 | 821 | 926 |
Impaired Loans, With No Related Allowance, Total Interest Income | 14 | 5 | 38 | 19 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 1 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 255 | 998 | 536 | 897 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 7 | 0 | 19 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,341 | 1,774 | 1,357 | 1,823 |
Impaired Loans, Total, Total Interest Income | 14 | 12 | 38 | 38 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 0 | 1 |
Residential [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 253 | 159 | 246 | 167 |
Impaired Loans, With No Related Allowance, Total Interest Income | 1 | 1 | 1 | 4 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 1 | 0 | 1 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 253 | 159 | 246 | 167 |
Impaired Loans, Total, Total Interest Income | 1 | 1 | 1 | 4 |
Impaired Loans, Total, Cash Basis Interest Income | 1 | 0 | 1 | 0 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 371 | 470 | 393 | 492 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 6 | 2 | 11 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 6 | 2 | 11 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 371 | 470 | 393 | 492 |
Impaired Loans, Total, Total Interest Income | 0 | 6 | 2 | 11 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 6 | 2 | 11 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 269 | 385 | 285 | 389 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 4 | 8 | 14 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 2 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 269 | 385 | 285 | 389 |
Impaired Loans, Total, Total Interest Income | 3 | 4 | 8 | 14 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 0 | 2 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 620 | 638 | 624 | 645 |
Impaired Loans, With No Related Allowance, Total Interest Income | 10 | 10 | 29 | 30 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 620 | 638 | 624 | 645 |
Impaired Loans, Total, Total Interest Income | 10 | 10 | 29 | 30 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Agriculture [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 636 | 0 | 318 | 0 |
Impaired Loans, With No Related Allowance, Total Interest Income | 16 | 0 | 17 | 0 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 16 | 0 | 17 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 376 | 422 | 391 | 425 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 13 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 1,012 | 422 | 709 | 425 |
Impaired Loans, Total, Total Interest Income | 16 | 0 | 17 | 13 |
Impaired Loans, Total, Cash Basis Interest Income | 16 | 0 | 17 | 13 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 312 | 172 | 295 | 149 |
Impaired Loans, With No Related Allowance, Total Interest Income | 1 | 0 | 3 | 0 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 1 | 0 | 2 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 312 | 172 | 295 | 149 |
Impaired Loans, Total, Total Interest Income | 1 | 0 | 3 | 0 |
Impaired Loans, Total, Cash Basis Interest Income | 1 | 0 | 2 | 0 |
Other [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 954 | 1,935 | 1,332 | 1,617 |
Impaired Loans, With No Related Allowance, Total Interest Income | 14 | 14 | 62 | 81 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 20 | 31 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 183 | 0 | 91 | 118 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,137 | 1,935 | 1,423 | 1,735 |
Impaired Loans, Total, Total Interest Income | 14 | 14 | 62 | 81 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 20 | 31 |
Other [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 192 | 343 | 226 | 367 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 4 | 9 | 13 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 1 | 1 | 4 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 192 | 343 | 226 | 367 |
Impaired Loans, Total, Total Interest Income | 3 | 4 | 9 | 13 |
Impaired Loans, Total, Cash Basis Interest Income | $ 1 | $ 1 | $ 4 | $ 6 |
Loans (Summary Of Past Due Loan
Loans (Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | $ 2,514 | $ 3,233 | |
Total Past Due and Nonaccrual | 4,274 | 6,672 | |
Current | 1,203,568 | 1,116,539 | |
Total Loans | 1,207,842 | 1,123,211 | $ 1,055,649 |
30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 779 | 1,594 | |
60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 808 | 1,361 | |
Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 173 | 484 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 2,019 | 2,847 | |
Total Past Due and Nonaccrual | 2,792 | 5,110 | |
Current | 1,014,113 | 931,304 | |
Total Loans | 1,016,905 | 936,414 | 865,924 |
Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 477 | 938 | |
Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 203 | 1,127 | |
Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 93 | 198 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 495 | 386 | |
Total Past Due and Nonaccrual | 1,482 | 1,562 | |
Current | 189,455 | 185,235 | |
Total Loans | 190,937 | 186,797 | 189,725 |
Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 302 | 656 | |
Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 605 | 234 | |
Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 80 | 286 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 384 | 411 | |
Total Past Due and Nonaccrual | 384 | 1,117 | |
Current | 128,612 | 132,861 | |
Total Loans | 128,996 | 133,978 | 133,817 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 398 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 308 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 20 | |
Total Past Due and Nonaccrual | 211 | 632 | |
Current | 229,408 | 191,362 | |
Total Loans | 229,619 | 191,994 | 172,805 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 211 | 216 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 396 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 3 | 597 | |
Total Past Due and Nonaccrual | 431 | 901 | |
Current | 175,337 | 160,243 | |
Total Loans | 175,768 | 161,144 | 122,682 |
Residential [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 132 | 0 | |
Residential [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 203 | 304 | |
Residential [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 93 | 0 | |
Residential [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 121 | 67 | |
Total Past Due and Nonaccrual | 622 | 316 | |
Current | 69,223 | 69,778 | |
Total Loans | 69,845 | 70,094 | 73,079 |
Residential [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 433 | 0 | |
Residential [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 68 | 249 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 361 | 420 | |
Total Past Due and Nonaccrual | 361 | 420 | |
Current | 82,353 | 83,751 | |
Total Loans | 82,714 | 84,171 | 84,744 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 43 | |
Total Past Due and Nonaccrual | 134 | 162 | |
Current | 88,288 | 77,532 | |
Total Loans | 88,422 | 77,694 | 76,831 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 134 | 0 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 119 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 0 | |
Total Past Due and Nonaccrual | 0 | 0 | |
Current | 39,327 | 30,325 | |
Total Loans | 39,327 | 30,325 | 33,105 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 1,008 | 422 | |
Total Past Due and Nonaccrual | 1,008 | 422 | |
Current | 47,097 | 40,795 | |
Total Loans | 48,105 | 41,217 | 38,290 |
Agriculture [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 312 | 202 | |
Total Past Due and Nonaccrual | 587 | 758 | |
Current | 90,881 | 85,650 | |
Total Loans | 91,468 | 86,408 | 84,917 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 235 | 485 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 40 | 71 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Other [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 263 | 934 | |
Total Past Due and Nonaccrual | 263 | 1,456 | |
Current | 223,691 | 214,435 | |
Total Loans | 223,954 | 215,891 | 203,650 |
Other [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 324 | |
Other [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Other [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 198 | |
Other [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 62 | 117 | |
Total Past Due and Nonaccrual | 273 | 488 | |
Current | 29,351 | 29,807 | |
Total Loans | 29,624 | 30,295 | $ 31,729 |
Other [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 67 | 171 | |
Other [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 132 | 163 | |
Other [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 12 | $ 37 |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Allowance For Loan Losses By Loan Segment And Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 13,558 | $ 11,966 | $ 12,704 | $ 11,162 |
Charge-offs | (138) | (91) | (941) | (1,146) |
Recoveries | 5 | 5 | 62 | 64 |
Provision | 800 | 500 | 2,400 | 2,300 |
Ending Balance | 14,225 | 12,380 | 14,225 | 12,380 |
Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 11,559 | 9,432 | 10,735 | 9,370 |
Charge-offs | (85) | (42) | (771) | (985) |
Recoveries | 1 | 2 | 5 | 21 |
Provision | 581 | 659 | 2,087 | 1,645 |
Ending Balance | 12,056 | 10,051 | 12,056 | 10,051 |
Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 441 | 377 | 489 | 456 |
Charge-offs | (53) | (49) | (170) | (161) |
Recoveries | 4 | 3 | 57 | 43 |
Provision | 51 | 74 | 67 | 67 |
Ending Balance | 443 | 405 | 443 | 405 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,558 | 2,157 | 1,480 | 1,336 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 168 | (233) | 246 | 588 |
Ending Balance | 1,726 | 1,924 | 1,726 | 1,924 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,033 | 1,906 | 1,934 | 2,236 |
Charge-offs | (85) | 0 | (85) | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 141 | 234 | 240 | (96) |
Ending Balance | 2,089 | 2,140 | 2,089 | 2,140 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,586 | 2,630 | 2,337 | 2,204 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 125 | (530) | 374 | (104) |
Ending Balance | 2,711 | 2,100 | 2,711 | 2,100 |
Residential [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,415 | 1,384 | 2,101 | 1,484 |
Charge-offs | 0 | (42) | (487) | (585) |
Recoveries | 0 | 0 | 2 | 2 |
Provision | 2 | 225 | 801 | 666 |
Ending Balance | 2,417 | 1,567 | 2,417 | 1,567 |
Residential [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 65 | 66 | 67 | 64 |
Charge-offs | (45) | 0 | (69) | (40) |
Recoveries | 0 | 0 | 0 | 21 |
Provision | 57 | 3 | 79 | 24 |
Ending Balance | 77 | 69 | 77 | 69 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 844 | 702 | 837 | 671 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | (20) | 183 | (13) | 214 |
Ending Balance | 824 | 885 | 824 | 885 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 697 | 586 | 701 | 691 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 2 | 2 | 19 |
Provision | 112 | 105 | 106 | (17) |
Ending Balance | 809 | 693 | 809 | 693 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 309 | 192 | 223 | 201 |
Charge-offs | 0 | 0 | (140) | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 63 | 52 | 289 | 43 |
Ending Balance | 372 | 244 | 372 | 244 |
Agriculture [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 568 | 509 | 548 | 329 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 24 | 18 | 44 | 198 |
Ending Balance | 592 | 527 | 592 | 527 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 167 | 158 | 161 | 176 |
Charge-offs | 0 | 0 | 0 | (40) |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 5 | 1 | 11 | 23 |
Ending Balance | 172 | 159 | 172 | 159 |
Other [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,107 | 1,523 | 2,054 | 1,554 |
Charge-offs | 0 | 0 | (59) | (400) |
Recoveries | 1 | 0 | 1 | 0 |
Provision | 134 | 372 | 246 | 741 |
Ending Balance | 2,242 | 1,895 | 2,242 | 1,895 |
Other [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 209 | 153 | 261 | 216 |
Charge-offs | (8) | (49) | (101) | (81) |
Recoveries | 4 | 3 | 57 | 22 |
Provision | (11) | 70 | (23) | 20 |
Ending Balance | $ 194 | $ 177 | $ 194 | $ 177 |
Allowance For Loan Losses (Su55
Allowance For Loan Losses (Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | $ 494 | $ 405 | $ 900 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 13,731 | 12,299 | 11,480 | |||
Allowance for Loan Losses, Balance | 14,225 | $ 13,558 | 12,704 | 12,380 | $ 11,966 | $ 11,162 |
Loans, Individually Evaluated For Impairment | 15,702 | 15,915 | 17,593 | |||
Loans, Collectively Evaluated For Impairment | 1,192,140 | 1,107,296 | 1,038,056 | |||
Loans, Balance | 1,207,842 | 1,123,211 | 1,055,649 | |||
Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 494 | 405 | 900 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 11,562 | 10,330 | 9,151 | |||
Allowance for Loan Losses, Balance | 12,056 | 11,559 | 10,735 | 10,051 | 9,432 | 9,370 |
Loans, Individually Evaluated For Impairment | 14,979 | 15,302 | 16,919 | |||
Loans, Collectively Evaluated For Impairment | 1,001,926 | 921,112 | 849,005 | |||
Loans, Balance | 1,016,905 | 936,414 | 865,924 | |||
Total Consumer Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 443 | 489 | 405 | |||
Allowance for Loan Losses, Balance | 443 | 441 | 489 | 405 | 377 | 456 |
Loans, Individually Evaluated For Impairment | 723 | 613 | 674 | |||
Loans, Collectively Evaluated For Impairment | 190,214 | 186,184 | 189,051 | |||
Loans, Balance | 190,937 | 186,797 | 189,725 | |||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,726 | 1,480 | 1,924 | |||
Allowance for Loan Losses, Balance | 1,726 | 1,558 | 1,480 | 1,924 | 2,157 | 1,336 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 200 | 0 | 495 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,889 | 1,934 | 1,645 | |||
Allowance for Loan Losses, Balance | 2,089 | 2,033 | 1,934 | 2,140 | 1,906 | 2,236 |
Loans, Individually Evaluated For Impairment | 3,926 | 4,284 | 5,461 | |||
Loans, Collectively Evaluated For Impairment | 125,070 | 129,694 | 128,356 | |||
Loans, Balance | 128,996 | 133,978 | 133,817 | |||
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,711 | 2,337 | 2,100 | |||
Allowance for Loan Losses, Balance | 2,711 | 2,586 | 2,337 | 2,100 | 2,630 | 2,204 |
Loans, Individually Evaluated For Impairment | 5,952 | 5,977 | 6,032 | |||
Loans, Collectively Evaluated For Impairment | 223,667 | 186,017 | 166,773 | |||
Loans, Balance | 229,619 | 191,994 | 172,805 | |||
Residential [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 142 | 142 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,417 | 1,959 | 1,425 | |||
Allowance for Loan Losses, Balance | 2,417 | 2,415 | 2,101 | 1,567 | 1,384 | 1,484 |
Loans, Individually Evaluated For Impairment | 1,713 | 1,471 | 1,602 | |||
Loans, Collectively Evaluated For Impairment | 174,055 | 159,673 | 121,080 | |||
Loans, Balance | 175,768 | 161,144 | 122,682 | |||
Residential [Member] | Total Consumer Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 77 | 67 | 69 | |||
Allowance for Loan Losses, Balance | 77 | 65 | 67 | 69 | 66 | 64 |
Loans, Individually Evaluated For Impairment | 220 | 164 | 165 | |||
Loans, Collectively Evaluated For Impairment | 69,625 | 69,930 | 72,914 | |||
Loans, Balance | 69,845 | 70,094 | 73,079 | |||
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 824 | 837 | 885 | |||
Allowance for Loan Losses, Balance | 824 | 844 | 837 | 885 | 702 | 671 |
Loans, Individually Evaluated For Impairment | 361 | 420 | 446 | |||
Loans, Collectively Evaluated For Impairment | 82,353 | 83,751 | 84,298 | |||
Loans, Balance | 82,714 | 84,171 | 84,744 | |||
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 809 | 701 | 693 | |||
Allowance for Loan Losses, Balance | 809 | 697 | 701 | 693 | 586 | 691 |
Loans, Individually Evaluated For Impairment | 262 | 309 | 383 | |||
Loans, Collectively Evaluated For Impairment | 88,160 | 77,385 | 76,448 | |||
Loans, Balance | 88,422 | 77,694 | 76,831 | |||
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 372 | 223 | 244 | |||
Allowance for Loan Losses, Balance | 372 | 309 | 223 | 244 | 192 | 201 |
Loans, Individually Evaluated For Impairment | 618 | 630 | 636 | |||
Loans, Collectively Evaluated For Impairment | 38,709 | 29,695 | 32,469 | |||
Loans, Balance | 39,327 | 30,325 | 33,105 | |||
Agriculture [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 263 | 263 | 263 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 329 | 285 | 264 | |||
Allowance for Loan Losses, Balance | 592 | 568 | 548 | 527 | 509 | 329 |
Loans, Individually Evaluated For Impairment | 1,008 | 422 | 422 | |||
Loans, Collectively Evaluated For Impairment | 47,097 | 40,795 | 37,868 | |||
Loans, Balance | 48,105 | 41,217 | 38,290 | |||
Home Equity [Member] | Total Consumer Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 172 | 161 | 159 | |||
Allowance for Loan Losses, Balance | 172 | 167 | 161 | 159 | 158 | 176 |
Loans, Individually Evaluated For Impairment | 312 | 202 | 203 | |||
Loans, Collectively Evaluated For Impairment | 91,156 | 86,206 | 84,714 | |||
Loans, Balance | 91,468 | 86,408 | 84,917 | |||
Other [Member] | Total Commercial Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 31 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,211 | 2,054 | 1,895 | |||
Allowance for Loan Losses, Balance | 2,242 | 2,107 | 2,054 | 1,895 | 1,523 | 1,554 |
Loans, Individually Evaluated For Impairment | 1,139 | 1,789 | 1,937 | |||
Loans, Collectively Evaluated For Impairment | 222,815 | 214,102 | 201,713 | |||
Loans, Balance | 223,954 | 215,891 | 203,650 | |||
Other [Member] | Total Consumer Related Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 194 | 261 | 177 | |||
Allowance for Loan Losses, Balance | 194 | $ 209 | 261 | 177 | $ 153 | $ 216 |
Loans, Individually Evaluated For Impairment | 191 | 247 | 306 | |||
Loans, Collectively Evaluated For Impairment | 29,433 | 30,048 | 31,423 | |||
Loans, Balance | $ 29,624 | $ 30,295 | $ 31,729 |
Deposits (Schedule Of Compositi
Deposits (Schedule Of Composition Of Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Noninterest bearing demand | $ 187,455 | $ 162,982 |
NOW | 123,845 | 102,943 |
Money market | 410,806 | 360,983 |
Savings | 76,827 | 69,646 |
Time deposits less than $100,000 | 245,560 | 238,392 |
Time deposits $100,000 to $250,000 | 129,963 | 122,730 |
Time deposits $250,000 or more | 47,639 | 36,473 |
Total deposits | $ 1,222,095 | $ 1,094,149 |
Short-Term Borrowings And Lon57
Short-Term Borrowings And Long-Term Debt (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | |||
Jun. 30, 2006 | Nov. 30, 2004 | Sep. 30, 2016 | Dec. 31, 2015 | |
Securities sold under agreements to repurchase | $ 31,061 | $ 74,510 | ||
Other short-term borrowings | $ 0 | $ 0 | ||
CVB Statutory Trust No. 2 [Member] | ||||
Pooled trust preferred debt issuance | $ 7,217 | |||
CVB Statutory Trust No. 1 [Member] | ||||
Pooled trust preferred debt issuance | $ 3,093 |
Short-Term Borrowings And Lon58
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Total long-term debt | $ 105,310 | $ 120,310 |
FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 95,000 | 110,000 |
Due July 2016, 2.35% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | 5,000 |
FHLBP due date | 2016-07 | |
Interest rate | 2.35% | |
Due September 2016, 1.18% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | 10,000 |
FHLBP due date | 2016-09 | |
Interest rate | 1.18% | |
Due October 2016, 1.06% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2016-10 | |
Interest rate | 1.06% | |
Due October 2016, 1.10% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2016-10 | |
Interest rate | 1.10% | |
Due April 2017, 0.97% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2017-04 | |
Interest rate | 0.97% | |
Due November 2017, 1.19% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2017-11 | |
Interest rate | 1.19% | |
Due March 2018, 1.17% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2018-03 | |
Interest rate | 1.17% | |
Due June 2018, 1.87% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2018-06 | |
Interest rate | 1.87% | |
Due November 2018, 1.62% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2018-11 | |
Interest rate | 1.62% | |
Due June 2019, 2.10% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2019-06 | |
Interest rate | 2.10% | |
Due June 2019, 1.64% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2019-06 | |
Interest rate | 1.64% | |
Due June 2020, 1.87% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2020-06 | |
Interest rate | 1.87% | |
Due June 2021, 2.14% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2021-06 | |
Interest rate | 2.14% | |
Due 2034, 2.67%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 3,093 | 3,093 |
Interest rate | 2.87% | |
Long-term debt year due | 2,034 | |
Due 2034, 2.67%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 2.02% | |
Due 2036, 2.17% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 7,217 | $ 7,217 |
Interest rate | 2.22% | |
Long-term debt year due | 2,036 | |
Due 2036, 2.17% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 1.54% |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Risk-Based Capital Ratios And Leverage Ratios) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | |
Common equity Tier 1, Actual, Amount | $ 150,485 | $ 143,456 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | $ 63,324 | $ 51,395 |
Common equity Tier 1, Actual, Ratio | 12.18% | 12.56% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 5.125% | 4.50% |
Tier 1 risk based, Actual, Amount | $ 160,485 | $ 165,456 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | $ 81,858 | $ 68,527 |
Tier 1 risk based, Actual, Ratio | 12.99% | 14.49% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 6.625% | 6.00% |
Total risk based, Actual, Amount | $ 174,710 | $ 178,160 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | $ 106,569 | $ 91,370 |
Total risk based, Actual, Ratio | 14.14% | 15.60% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 8.625% | 8.00% |
Leverage, Actual, Amount | $ 160,485 | $ 165,456 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | $ 60,967 | $ 56,398 |
Leverage, Actual, Ratio | 10.53% | 11.73% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
PeoplesBank, A Codorus Valley Company [Member] | |||
Common equity Tier 1, Actual, Amount | $ 156,897 | $ 149,073 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | 63,151 | 51,227 |
Common equity Tier 1, Well Capitalized Minimum, Amount | [2] | $ 80,094 | $ 73,994 |
Common equity Tier 1, Actual, Ratio | 12.73% | 13.10% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 5.125% | 4.50% |
Common equity Tier 1, Well Capitalized Minimum, Ratio | [2] | 6.50% | 6.50% |
Tier 1 risk based, Actual, Amount | $ 156,897 | $ 149,073 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | 81,634 | 68,302 |
Tier 1 risk based, Well Capitalized Minimum, Amount | [2] | $ 98,577 | $ 91,070 |
Tier 1 risk based, Actual, Ratio | 12.73% | 13.10% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 6.625% | 6.00% |
Tier 1 risk based, Well Capitalized Minimum, Ratio | [2] | 8.00% | 8.00% |
Total risk based, Actual, Amount | $ 171,122 | $ 161,777 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | 106,279 | 91,070 |
Total risk based, Well Capitalized Minimum, Amount | [2] | $ 123,222 | $ 113,837 |
Total risk based, Actual, Ratio | 13.89% | 14.21% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 8.625% | 8.00% |
Total risk based, Well Capitalized Minimum, Ratio | [2] | 10.00% | 10.00% |
Leverage, Actual, Amount | $ 156,897 | $ 149,073 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | 60,828 | 56,248 |
Leverage, Well Capitalized Minimum, Amount | [2] | $ 76,035 | $ 70,310 |
Leverage, Actual, Ratio | 10.32% | 10.60% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
Leverage, Well Capitalized Minimum, Ratio | [2] | 5.00% | 5.00% |
[1] | Minimum amounts and ratios as of September 30, 2016 include the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. | ||
[2] | To be "well capitalized" under the prompt corrective action provisions in the Basel III framework. "Well capitalized" applies to PeoplesBank only. |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 11, 2016 | Dec. 23, 2015 | Dec. 15, 2015 | Dec. 08, 2015 | May 30, 2014 | Feb. 18, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Aug. 31, 2011 |
Class of Stock [Line Items] | ||||||||||
Gross proceeds from issuance of public offering | $ 503 | $ 966 | ||||||||
Preferred stock, aggregate purchase price of shares sold to Treasury | $ 0 | $ 12,000 | ||||||||
Common stock dividend rate | 5.00% | |||||||||
Common stock dividend declared date | Oct. 11, 2016 | |||||||||
Common stock dividend payable date | Dec. 13, 2016 | |||||||||
Common stock dividend record date | Oct. 25, 2016 | |||||||||
Common stock dividend additional common shares | 294,161 | 399,088 | 294,507 | |||||||
Public Offering [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
New shares | 227,850 | 1,519,000 | ||||||||
New shares price per share | $ 19.75 | $ 19.75 | ||||||||
Net proceeds from issuance of public offering | $ 32,500 | |||||||||
Gross proceeds from issuance of public offering | 34,500 | |||||||||
Issuance costs | 2,000 | |||||||||
Investment in subsidiary | $ 19,800 | |||||||||
Series B Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, redemption price | $ 12,000 | |||||||||
Preferred stock, aggregate purchase price of shares sold to Treasury | $ 25,000 | |||||||||
Preferred stock, shares sold to Treasury | 0 | 12,000 | 25,000 | |||||||
Preferred stock, liquidation value | $ 1,000 | $ 1,000 | $ 1,000 | |||||||
Preferred stock par value | $ 2.50 | $ 2.50 | $ 2.50 | |||||||
Preferred stock, redemption shares | 13,000 | |||||||||
Preferred stock, shares outstanding | 0 | 12,000 | ||||||||
Preferred stock, dividend rate | 1.00% | 1.00% | ||||||||
Preferred stock, redemption date | Feb. 18, 2016 | |||||||||
Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Common stock dividend rate | 5.00% |
Contingent Liabilities (Details
Contingent Liabilities (Details) | Sep. 30, 2016claim |
Pending [Member] | |
Loss Contingencies [Line Items] | |
Number of legal proceedings pending | 0 |
Guarantees (Details)
Guarantees (Details) - Standby Letters Of Credit [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||
Standby letters of credit outstanding | $ 20,505 | $ 19,037 |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Standby letters of credit expiration period | 1 year |
Fair Value Of Assets And Liab63
Fair Value Of Assets And Liabilities (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Sep. 30, 2016 | |
Fair Value Of Assets And Liabilities [Abstract] | ||
Impaired loans | $ 1,846 | $ 570 |
Impaired loans, valuation allowances | 405 | 494 |
Impaired loans, charge-offs | 1,262 | 870 |
Foreclosed real estate | 2,003 | 1,630 |
Foreclosed real estate, valuation allowances | 981 | 891 |
Foreclosed real estate, write-downs | 34 | |
Mortgage servicing rights asset | $ 0 | 209 |
Mortgage service rights, valuation allowance | $ 3 |
Fair Value Of Assets And Liab64
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 200,373 | $ 213,470 |
U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,937 | |
U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 21,032 | 17,414 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 100,153 | 120,581 |
State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 69,251 | 75,475 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 9,937 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 21,032 | 17,414 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 100,153 | 120,581 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 69,251 | 75,475 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 0 | $ 0 |
Fair Value Of Assets And Liab65
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 570 | $ 1,846 |
Foreclosed real estate | 1,630 | 2,003 |
Mortgage servicing rights | 209 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Mortgage servicing rights | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Mortgage servicing rights | 0 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 570 | 1,846 |
Foreclosed real estate | 1,630 | $ 2,003 |
Mortgage servicing rights | $ 209 |
Fair Value Of Assets And Liab66
Fair Value Of Assets And Liabilities (Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Impaired loans | $ 570 | $ 1,846 | |
Foreclosed real estate | 1,630 | 2,003 | |
Mortgage servicing rights | 209 | 0 | |
Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Impaired loans | 570 | 1,846 | |
Foreclosed real estate | 1,630 | $ 2,003 | |
Mortgage servicing rights | $ 209 | ||
Impaired Loans [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Valuation Techniques | [1] | Appraisal | |
Unobservable Input | [2] | Appraisal adjustments | |
Impaired Loans [Member] | Minimum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 15.00% | 15.00% | |
Impaired Loans [Member] | Maximum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 25.00% | 25.00% | |
Impaired Loans [Member] | Weighted Average [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 24.00% | 16.00% | |
Foreclosed Real Estate [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Valuation Techniques | [1] | Appraisal | |
Unobservable Input | [2] | Appraisal adjustments | |
Foreclosed Real Estate [Member] | Minimum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 9.00% | 7.00% | |
Foreclosed Real Estate [Member] | Maximum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 19.00% | 38.00% | |
Foreclosed Real Estate [Member] | Weighted Average [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Appraisal adjustments | 19.00% | 34.00% | |
Mortgage Servicing Rights [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Valuation Techniques | Multiple of annual service fee | ||
Unobservable Input | Estimated prepayment speed based on rate and term | ||
Mortgage Servicing Rights [Member] | Minimum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Estimated prepayment speed based on rate and term | 231.00% | ||
Mortgage Servicing Rights [Member] | Maximum [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Estimated prepayment speed based on rate and term | 405.00% | ||
Mortgage Servicing Rights [Member] | Weighted Average [Member] | Nonrecurring [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Estimated prepayment speed based on rate and term | 378.00% | ||
[1] | Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. | ||
[2] | Appraisals may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Fair Value Of Assets And Liab67
Fair Value Of Assets And Liabilities (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale | $ 200,373 | $ 213,470 |
Mortgage servicing rights | 209 | 0 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 46,135 | 57,485 |
Securities available-for-sale | 200,373 | 213,470 |
Restricted investment in bank stocks | 4,526 | 5,028 |
Loans held for sale | 3,318 | 564 |
Loans, net | 1,193,617 | 1,110,507 |
Interest receivable | 3,614 | 4,003 |
Mortgage servicing rights | 209 | |
Deposits | 1,222,095 | 1,094,149 |
Short-term borrowings | 31,061 | 74,510 |
Long-term debt | 105,310 | 120,310 |
Interest payable | 468 | 468 |
Off-balance sheet instruments | 0 | 0 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 46,135 | 57,485 |
Securities available-for-sale | 200,373 | 213,470 |
Restricted investment in bank stocks | 4,526 | 5,028 |
Loans held for sale | 3,422 | 574 |
Loans, net | 1,202,404 | 1,119,758 |
Interest receivable | 3,614 | 4,003 |
Mortgage servicing rights | 209 | |
Deposits | 1,223,310 | 1,092,819 |
Short-term borrowings | 31,061 | 74,510 |
Long-term debt | 103,213 | 117,041 |
Interest payable | 468 | 468 |
Off-balance sheet instruments | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 46,135 | 57,485 |
Securities available-for-sale | 9,937 | 0 |
Restricted investment in bank stocks | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Interest receivable | 0 | 0 |
Mortgage servicing rights | 0 | |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 190,436 | 213,470 |
Restricted investment in bank stocks | 4,526 | 5,028 |
Loans held for sale | 3,422 | 574 |
Loans, net | 0 | 0 |
Interest receivable | 3,614 | 4,003 |
Mortgage servicing rights | 0 | |
Deposits | 1,223,310 | 1,092,819 |
Short-term borrowings | 31,061 | 74,510 |
Long-term debt | 95,995 | 110,195 |
Interest payable | 468 | 468 |
Off-balance sheet instruments | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Restricted investment in bank stocks | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 1,202,404 | 1,119,758 |
Interest receivable | 0 | 0 |
Mortgage servicing rights | 209 | |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 7,218 | 6,846 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | $ 0 | $ 0 |
Assets And Liabilities Subjec68
Assets And Liabilities Subject To Offsetting (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets And Liabilities Subject To Offsetting [Abstract] | ||
Fair value of securities pledged in connection with repurchase agreements | $ 34,859 | $ 75,094 |
Assets And Liabilities Subjec69
Assets And Liabilities Subject To Offsetting (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross Amounts of Recognized Liabilities | $ 31,061 | $ 74,510 |
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition | 0 | 0 |
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition | 31,061 | 74,510 |
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | 0 | 0 |
Repurchase Agreements, Net Amount | 0 | 0 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | (25,837) | (63,162) |
U.S. Agency [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | $ (5,224) | $ (11,348) |