Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 01, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | Codorus Valley Bancorp Inc | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | cvly | |
Entity Central Index Key | 0000806279 | |
Amendment Flag | false | |
Document Type | 10-Q | |
Document Fiscal Period Focus | Q1 | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 9,455,313 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Interest bearing deposits with banks | $ 73,835 | $ 69,103 |
Cash and due from banks | 20,450 | 27,679 |
Total cash and cash equivalents | 94,285 | 96,782 |
Securities, available-for-sale | 149,168 | 149,593 |
Restricted investment in bank stocks, at cost | 5,322 | 5,922 |
Loans held for sale | 4,778 | 4,127 |
Loans (net of deferred fees of $3,699 - 2019 and $3,722 - 2018) | 1,494,962 | 1,485,680 |
Less-allowance for loan losses | (20,081) | (19,144) |
Net loans | 1,474,881 | 1,466,536 |
Premises and equipment, net | 27,137 | 24,724 |
Operating leases right-of-use assets | 2,684 | 0 |
Goodwill | 2,301 | 2,301 |
Other assets | 64,413 | 57,495 |
Total assets | 1,824,969 | 1,807,480 |
Deposits | ||
Noninterest bearing | 253,114 | 252,777 |
Interest bearing | 1,249,763 | 1,242,503 |
Total deposits | 1,502,877 | 1,495,280 |
Short-term borrowings | 6,830 | 7,022 |
Long-term debt | 116,779 | 115,310 |
Operating leases liabilities | 2,864 | 0 |
Other liabilities | 12,812 | 11,122 |
Total liabilities | 1,642,162 | 1,628,734 |
Shareholders' equity | ||
Preferred stock, par value $2.50 per share; 1,000,000 shares authorized; 0 shares issued and outstanding | 0 | 0 |
Common stock, par value $2.50 per share; 30,000,000 shares authorized; shares issued: 9,458,193 at March 31, 2019 and 9,451,547 at December 31, 2018; and shares outstanding: 9,457,383 at March 31, 2019 and 9,451,547 at December 31, 2018 | 23,646 | 23,629 |
Additional paid-in capital | 134,775 | 134,506 |
Retained earnings | 25,217 | 22,837 |
Accumulated other comprehensive loss | (827) | (2,226) |
Treasury stock, at cost; 810 shares at March 31, 2019 | (4) | 0 |
Total shareholders' equity | 182,807 | 178,746 |
Total liabilities and shareholders' equity | $ 1,824,969 | $ 1,807,480 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Loans, deferred fees | $ 3,699 | $ 3,722 |
Shareholders' equity | ||
Preferred stock, par value | $ 2.50 | $ 2.50 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 9,458,193 | 9,451,547 |
Common stock, shares outstanding | 9,457,383 | 9,451,547 |
Treasury stock, at cost, shares | 810 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest income | ||
Loans, including fees | $ 19,510 | $ 17,497 |
Investment securities: | ||
Taxable | 676 | 566 |
Tax-exempt | 209 | 281 |
Dividends | 119 | 123 |
Other | 362 | 126 |
Total interest income | 20,876 | 18,593 |
Interest expense | ||
Deposits | 4,620 | 2,632 |
Federal funds purchased and other short-term borrowings | 9 | 15 |
Long-term debt | 716 | 601 |
Total interest expense | 5,345 | 3,248 |
Net interest income | 15,531 | 15,345 |
Provision for loan losses | 1,050 | 200 |
Net interest income after provision for loan losses | 14,481 | 15,145 |
Noninterest income | ||
Trust and investment services fees | 840 | 790 |
Income from mutual fund, annuity and insurance sales | 235 | 314 |
Service charges on deposit accounts | 1,158 | 1,103 |
Income from bank owned life insurance | 367 | 241 |
Other income | 409 | 326 |
Gain on sales of loans held for sale | 218 | 443 |
Loss on sales of securities | (4) | 0 |
Total noninterest income | 3,223 | 3,217 |
Noninterest expense | ||
Personnel | 7,706 | 7,812 |
Occupancy of premises, net | 963 | 871 |
Furniture and equipment | 772 | 814 |
Postage, stationery and supplies | 184 | 172 |
Professional and legal | 109 | 180 |
Marketing | 349 | 408 |
FDIC insurance | 237 | 168 |
Debit card processing | 323 | 288 |
Charitable donations | 845 | 1,509 |
Telecommunications | 126 | 237 |
External data processing | 556 | 447 |
Foreclosed real estate including provision for losses | 87 | 9 |
Other | 304 | 342 |
Total noninterest expense | 12,561 | 13,257 |
Income before income taxes | 5,143 | 5,105 |
Provision for income taxes | 1,052 | 1,022 |
Net income | $ 4,091 | $ 4,083 |
Net income per share, basic | $ 0.43 | $ 0.44 |
Net income per share, diluted | $ 0.43 | $ 0.43 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net income | $ 4,091 | $ 4,083 | |
Securities available for sale: | |||
Net unrealized holding gains (losses) arising during the period (net of tax expense (benefit)) | 1,396 | (1,788) | |
Reclassification adjustment for losses included in net income (net of tax benefit | [1],[2] | 3 | 0 |
Net unrealized gains (losses) | 1,399 | (1,788) | |
Comprehensive income | $ 5,490 | $ 2,295 | |
[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 the provision for income taxes on the Consolidated Statements of Income. |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Securities available for sale: | ||
Net unrealized holding gains (losses) arising during the period, tax expense (benefit) | $ 370 | $ (475) |
Reclassification adjustment for losses included in net income, tax benefit | $ 1 | $ 0 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities | ||
Net income | $ 4,091 | $ 4,083 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation/amortization | 651 | 591 |
Net amortization of premiums on securities | 65 | 120 |
Amortization of deferred loan origination fees and costs | (229) | (439) |
Amortization of operating lease right of use assets | 166 | 0 |
Provision for loan losses | 1,050 | 200 |
Increase in bank owned life insurance | (367) | (241) |
Originations of mortgage loans held for sale | (7,627) | (7,683) |
Originations of SBA loans held for sale | (1,595) | (4,403) |
Proceeds from sales of mortgage loans held for sale | 7,948 | 8,561 |
Proceeds from sales of SBA loans held for sale | 791 | 3,957 |
Gain on sales of mortgage loans held for sale | (165) | (198) |
Gain on sales of SBA loans held for sale | (53) | (245) |
Gain on disposal of premises and equipment | (11) | (18) |
Loss on sales of securities, available-for-sale | 4 | 0 |
Stock-based compensation | 135 | 230 |
Decrease in interest receivable | 370 | 349 |
(Increase) in other assets | (647) | (58) |
Increase (decrease) in interest payable | 142 | (50) |
Increase in other liabilities | 539 | 2,062 |
Net cash provided by operating activities | 5,258 | 6,818 |
Cash flows from investing activities | ||
Purchases of securities, available-for-sale | (8,448) | (1,519) |
Maturities, repayments and calls of securities, available-for-sale | 5,561 | 5,941 |
Sales of securities, available-for-sale | 6,017 | 0 |
Net decrease in restricted investment in bank stock | 600 | 208 |
Net increase in loans made to customers | (9,166) | (23,577) |
Purchases of premises and equipment | (1,759) | (502) |
Investment in bank owned life insurance | (6,600) | 0 |
Proceeds from sales of foreclosed real estate | 0 | 97 |
Net cash used in investing activities | (13,795) | (19,352) |
Cash flows from financing activities | ||
Net (decrease) increase in demand and savings deposits | (20,669) | 19,781 |
Net increase (decrease) in time deposits | 28,266 | (1,735) |
Net (decrease) increase in short-term borrowings | (192) | 4,220 |
Repayment of long-term debt | 0 | (10,000) |
Cash dividends paid to shareholders | (1,512) | (1,381) |
Issuance of stock | 147 | 318 |
Net cash provided by financing activities | 6,040 | 11,203 |
Net (decrease) in cash and cash equivalents | (2,497) | (1,331) |
Cash and cash equivalents at beginning of year | 96,782 | 79,524 |
Cash and cash equivalents at end of period | $ 94,285 | $ 78,193 |
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 Loss [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2017 | $ 0 | $ 22,265 | $ 120,052 | $ 22,860 | $ (958) | $ 0 | $ 164,219 |
Net income | 4,083 | 4,083 | |||||
Other comprehensive income (loss), net of tax | (1,788) | (1,788) | |||||
Cash dividends | (1,381) | (1,381) | |||||
Stock-based compensation | 230 | 230 | |||||
Forfeiture of restricted stock | (63) | (63) | |||||
Issuance and reissuance of stock: | |||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 9 | 76 | 57 | 142 | |||
Issuance of shares under the stock option plan | 34 | 205 | 239 | ||||
Issuance of shares of stock-based compensation awards | 5 | (5) | 0 | ||||
Balance at Mar. 31, 2018 | 0 | 22,313 | 120,558 | 25,562 | (2,746) | (6) | 165,681 |
Balance at Dec. 31, 2018 | 0 | 23,629 | 134,506 | 22,837 | (2,226) | 0 | 178,746 |
Net income | 4,091 | 4,091 | |||||
Other comprehensive income (loss), net of tax | 1,399 | 1,399 | |||||
Cash dividends | (1,512) | (1,512) | |||||
Adoption of ASC topic 842 (leases) | (199) | (199) | |||||
Stock-based compensation | 135 | 135 | |||||
Forfeiture of restricted stock and withheld shares | 2 | (4) | (2) | ||||
Issuance and reissuance of stock: | |||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 17 | 132 | 149 | ||||
Balance at Mar. 31, 2019 | $ 0 | $ 23,646 | $ 134,775 | $ 25,217 | $ (827) | $ (4) | $ 182,807 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Statements Of Changes In Shareholders' Equity [Abstract] | ||
Cash dividends per share | $ 0.160 | $ 0.148 |
Issuance and reissuance of stock: | ||
Shares under the dividend reinvestment and stock purchase plan | 6,646 | 5,518 |
Shares under the stock option plan | 13,736 | |
Shares of stock-based compensation awards | 1,816 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
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, 2018 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 three wholly-owned subsidiaries as of March 31, 2019 . Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit investment products in Pennsylvania; SYC Settlement Services, Inc., which provides real estate settlement services and Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit investment products in Maryland. 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 a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the period ended March 31, 2019 . The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 7—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, 2018 . The results of operations for the three months ended March 31, 2019 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 March 31, 2019 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. Generally, 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. 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 nonaccrual loans and troubled debt restructurings. 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 4—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. 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 some 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 March 31, 2019 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 both March 31, 2019 and December 31, 2018, there was $ 1,755,000 of foreclosed real estate, which included $18,000 of residential real estate. Included within loans receivable as of March 31, 2019 was a recorded investment of $255,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Mortgage Servicing Rights 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 March 31, 2019 , the balance of residential mortgage loans serviced for third parties was $104,621,000 compared to $98,852,000 at December 31, 2018 . Three months ended March 31, (dollars in thousands) 2019 2018 Amortized cost: Balance at beginning of period $ 925 $ 672 Originations of mortgage servicing rights 50 68 Amortization expense (36) (25) Valuation allowance (17) 0 Balance at end of period $ 922 $ 715 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, 2018. 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 March 31, 2019 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. Revenue from Contracts with Customers Revenue from contracts with customers that are required to be recognized under FASB ASC Topic 606 - Revenue from Contracts with Customers (ASC 606) is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Corporation recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues credits as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a referral arrangement. Such fees represent fees charged to merchants to process their debit card transactions. The Corporation’s performance obligation for these fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received within a one to three day lag or in the following month. Per Share Data All per share computations include the effect of stock dividends distributed. The computation of net income per share is provided in the table below. Three months ended March 31, (in thousands, except per share data) 2019 2018 Net income $ 4,091 $ 4,083 Weighted average shares outstanding (basic) 9,455 9,359 Effect of dilutive stock options 66 96 Weighted average shares outstanding (diluted) 9,521 9,455 Basic earnings per share $ 0.43 $ 0.44 Diluted earnings per share $ 0.43 $ 0.43 Anti-dilutive stock options excluded from the computation of earnings per share 30 16 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. Three months ended March 31, (dollars in thousands) 2019 2018 Cash paid during the period for: Income taxes $ 300 $ 0 Interest $ 5,203 $ 3,298 Noncash investing and financing activities: Initial recognition of financing lease right-of-use assets $ 1,358 $ 0 Initial recognition of financing lease liabilities $ 1,480 $ 0 Initial recognition of operating lease right-of-use assets $ 2,958 $ 0 Initial recognition of operating lease liabilities $ 3,035 $ 0 Increase in other liabilities for purchase of securities settling after quarter end $ 1,004 $ 0 Recent Accounting Pronouncements Pronouncements Adopted in 2019 In February 2016, the FASB issued ASU 2016-02, Leases and in July 2018 issued ASU 2018-10 and ASU 2018-11, Codification Improvements to Topic 842, 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 a 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 doesn’t 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 adopted the new standard effective January 1, 2019, which resulted in an increase in assets to recognize the present value of the lease obligations (right-of-use assets) with a corresponding increase in liabilities as discussed in Note 8-Leases. The adoption did not have an overall material impact on the Corporation’s consolidated financial statements of income. In July 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting. This standard expands the scope of Topic 718, Compensation – Stock Compensation to include share-based payment transactions for acquiring goods and services from nonemployees. This standard requires application of Topic 718 to nonemployee awards for specific guidance on inputs to an option pricing model and the attribution of costs (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments in the Update are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Corporation adopted the new standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Corporation’s consolidated financial statements. Pronouncements Not Yet Effective In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350). This standard simplifies the test for goodwill impairment by eliminating the requirement to calculate the implied fair value of goodwill, which currently is Step 2 of the goodwill impairment test. Instead, the goodwill impairment test will consist of a single quantitative step comparing the fair value of the reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and any interim goodwill impairment tests in reporting periods beginning after December 15, 2019. Early adoption is permitted. The Corporation intends to adopt this standard effective with its January 1, 2020 goodwill impairment test and the adoption of this standard is not expected to have a material impact on its consolidated financial statements based on current circumstances. 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 planning to adopt the standard in the first quarter of 2020 and is continuing its implementation, having established a Corporation-wide implementation team. The team is in the final stages of selecting a vendor partner and a model . We are also finalizing the develop ment and documenting of processes, controls, policies and disclosure requirements in preparation for performing a full parallel run. The Corporation expects the provisions of ASU No. 2016-13 to impact the Corporation’s consolidated financial statements, in particular, the level of the reserve for credit losses. The Corporation is continuing to evaluate the extent of the potential impact and expects that portfolio composition and economic conditions at the time of adoption will be a factor. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, Fair Value Measurement. The following disclosure requirement |
Securities
Securities | 3 Months Ended |
Mar. 31, 2019 | |
Securities [Abstract] | |
Securities | Note 2-Securities A summary of securities available-for-sale at March 31, 2019 and December 31, 2018 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 March 31, 2019 , while 85 percent of the fair value of the municipal bond portfolio was concentrated in the Commonwealth of Pennsylvania , the portfolio was intentionally distributed to limit exposure with the largest issuer at $ 2.3 million . Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value March 31, 2019 Debt securities: U.S. Treasury notes $ 19,788 $ 39 $ (543) $ 19,284 U.S. agency 16,000 0 (621) 15,379 U.S. agency mortgage-backed, residential 81,345 421 (499) 81,267 State and municipal 33,082 181 (25) 33,238 Total debt securities $ 150,215 $ 641 $ (1,688) $ 149,168 December 31, 2018 Debt securities: U.S. Treasury notes $ 19,780 $ 29 $ (806) $ 19,003 U.S. agency 16,000 0 (937) 15,063 U.S. agency mortgage-backed, residential 75,446 102 (993) 74,555 State and municipal 41,184 85 (297) 40,972 Total debt securities $ 152,410 $ 216 $ (3,033) $ 149,593 The amortized cost and estimated fair value of debt securities at March 31, 2019 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 $ 3,439 $ 3,443 Due after one year through five years 89,460 88,997 Due after five years through ten years 46,896 46,221 Due after ten years 10,420 10,507 Total debt securities $ 150,215 $ 149,168 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 March 31, (dollars in thousands) 2019 2018 Realized gains $ 3 $ 0 Realized losses (7) 0 Net losses $ (4) $ 0 Investment securities having a carrying value of $123,369,000 and $123,088 ,000 on March 31, 2019 and December 31, 2018 , 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 March 31, 2019 and December 31, 2018 . 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 March 31, 2019 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 14,250 $ (543) 3 $ 14,250 $ (543) U.S. agency 0 0 0 4 15,379 (621) 4 15,379 (621) U.S. agency mortgage-backed, residential 6 6,237 (91) 29 37,665 (408) 35 43,902 (499) State and municipal 2 1,036 (2) 14 7,266 (23) 16 8,302 (25) Total temporarily impaired debt securities, available-for-sale 8 $ 7,273 $ (93) 50 $ 74,560 $ (1,595) 58 $ 81,833 $ (1,688) December 31, 2018 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 13,980 $ (806) 3 $ 13,980 $ (806) U.S. agency 0 0 0 4 15,063 (937) 4 15,063 (937) U.S. agency mortgage-backed, residential 8 4,878 (14) 39 51,137 (979) 47 56,015 (993) State and municipal 15 6,707 (11) 36 20,287 (286) 51 26,994 (297) Total temporarily impaired debt securities, available-for-sale 23 $ 11,585 $ (25) 82 $ 100,467 $ (3,008) 105 $ 112,052 $ (3,033) 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 March 31, 2019 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 March 31, 2019 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 | 3 Months Ended |
Mar. 31, 2019 | |
Restricted Investment In Bank Stocks [Abstract] | |
Restricted Investment In Bank Stocks | Note 3—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 March 31, 2019 and December 31, 2018 , consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (“FHLBP”) and, to a lesser degree, Atlantic Community Bancshares, Inc. (“ACBI”), the parent company of Atlantic Community Bankers Bank (“ACBB”). Under the FHLBP’s Capital Plan member banks, including PeoplesBank, are required to maintain a minimum stock investment. 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 March 31, 2019 and 2018 . 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 March 31, 2019 and 2018 . |
Loans
Loans | 3 Months Ended |
Mar. 31, 2019 | |
Loans [Abstract] | |
Loans | Note 4—Loans Loan Portfolio Composition The table below provides the composition of the loan portfolio at March 31, 2019 and December 31, 2018 . 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. March 31, % Total December 31, % Total (dollars in thousands) 2019 Loans 2018 Loans Builder & developer $ 165,131 11.0 $ 154,977 10.4 Commercial real estate investor 209,134 14.0 210,501 14.2 Residential real estate investor 233,306 15.6 231,118 15.6 Hotel/Motel 84,521 5.7 77,480 5.2 Wholesale & retail 112,046 7.5 117,280 7.9 Manufacturing 78,639 5.3 80,075 5.4 Agriculture 65,427 4.4 65,540 4.4 Other 340,624 22.7 342,839 23.0 Total commercial related loans 1,288,828 86.2 1,279,810 86.1 Residential mortgages 86,599 5.8 83,977 5.7 Home equity 97,363 6.5 98,019 6.6 Other 22,172 1.5 23,874 1.6 Total consumer related loans 206,134 13.8 205,870 13.9 Total loans $ 1,494,962 100.0 $ 1,485,680 100.0 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 typically meets at least quarterly, 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. In addition to review by the Committee, existing loans are monitored by the primary loan officer and loan review to determine if any changes, upward or downward, in risk ratings are appropriate. Primary loan officers and loan review may downgrade existing loans, except to non-accrual status. Only the Committee, Executive Chairman or President/CEO may upgrade a loan that is classified. The Corporation uses ten risk ratings to grade commercial 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. 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,” nor does it include the regulatory classification of “loss”, because the Corporation promptly charges off loan losses. The table below presents a summary of loan risk ratings by loan class at March 31, 2019 and December 31, 2018 . Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total March 31, 2019 Builder & developer $ 160,978 $ 2,904 $ 272 $ 977 $ 165,131 Commercial real estate investor 201,743 2,893 4,267 231 209,134 Residential real estate investor 223,167 5,286 226 4,627 233,306 Hotel/Motel 84,521 0 0 0 84,521 Wholesale & retail 91,974 8,449 4,447 7,176 112,046 Manufacturing 74,180 1,636 1,229 1,594 78,639 Agriculture 61,665 757 2,350 655 65,427 Other 316,544 1,203 14,072 8,805 340,624 Total commercial related loans 1,214,772 23,128 26,863 24,065 1,288,828 Residential mortgage 85,949 137 82 431 86,599 Home equity 96,755 11 0 597 97,363 Other 21,881 0 9 282 22,172 Total consumer related loans 204,585 148 91 1,310 206,134 Total loans $ 1,419,357 $ 23,276 $ 26,954 $ 25,375 $ 1,494,962 December 31, 2018 Builder & developer $ 152,188 $ 1,604 $ 411 $ 774 $ 154,977 Commercial real estate investor 204,141 1,808 4,317 235 210,501 Residential real estate investor 222,227 3,597 235 5,059 231,118 Hotel/Motel 77,480 0 0 0 77,480 Wholesale & retail 94,726 9,973 4,952 7,629 117,280 Manufacturing 72,058 4,991 1,302 1,724 80,075 Agriculture 61,636 3,244 0 660 65,540 Other 318,940 7,760 12,689 3,450 342,839 Total commercial related loans 1,203,396 32,977 23,906 19,531 1,279,810 Residential mortgage 83,305 7 82 583 83,977 Home equity 97,395 13 0 611 98,019 Other 23,601 1 9 263 23,874 Total consumer related loans 204,301 21 91 1,457 205,870 Total loans $ 1,407,697 $ 32,998 $ 23,997 $ 20,988 $ 1,485,680 Impaired Loans The table below presents a summary of impaired loans at March 31, 2019 and December 31, 2018. As of March 31, 2019, g enerally, impaired loans are all loans risk rated nonaccrual or classified as troubled debt restructuring. As of December 31, 2018, generally, impaired loans are certain loans risk rated substandard and all loans risk rated nonaccrual or classified as troubled debt restructurings. An allowance is established for individual loans that are commercial related where the Corporation has doubt as to full recovery of the outstanding principal balance. Typically, impaired consumer related loans are partially or fully charged-off eliminating the need for a specific allowance. The recorded investment represents outstanding unpaid principal loan balances adjusted for payments collected on a non-cash basis and 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 March 31, 2019 Builder & developer $ 1,201 $ 1,345 $ 0 $ 0 $ 0 $ 1,201 $ 1,345 Commercial real estate investor 2,669 2,669 0 0 0 2,669 2,669 Residential real estate investor 321 324 4,306 4,345 1,218 4,627 4,669 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 246 246 7,176 7,455 757 7,422 7,701 Manufacturing 17 17 1,577 1,634 539 1,594 1,651 Agriculture 655 655 0 0 0 655 655 Other commercial 1,957 1,957 6,848 6,854 2,260 8,805 8,811 Total impaired commercial related loans 7,066 7,213 19,907 20,288 4,774 26,973 27,501 Residential mortgage 431 455 0 0 0 431 455 Home equity 597 597 0 0 0 597 597 Other consumer 282 283 0 0 0 282 283 Total impaired consumer related loans 1,310 1,335 0 0 0 1,310 1,335 Total impaired loans $ 8,376 $ 8,548 $ 19,907 $ 20,288 $ 4,774 $ 28,283 $ 28,836 December 31, 2018 Builder & developer $ 1,047 $ 1,318 $ 138 $ 138 $ 51 $ 1,185 $ 1,456 Commercial real estate investor 4,552 4,552 0 0 0 4,552 4,552 Residential real estate investor 909 909 4,385 4,385 1,218 5,294 5,294 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 5,200 5,200 7,629 7,629 757 12,829 12,829 Manufacturing 1,320 1,320 1,706 1,706 539 3,026 3,026 Agriculture 660 660 0 0 0 660 660 Other commercial 13,245 13,245 2,894 2,894 1,114 16,139 16,139 Total impaired commercial related loans 26,933 27,204 16,752 16,752 3,679 43,685 43,956 Residential mortgage 665 689 0 0 0 665 689 Home equity 611 611 0 0 0 611 611 Other consumer 272 272 0 0 0 272 272 Total impaired consumer related loans 1,548 1,572 0 0 0 1,548 1,572 Total impaired loans $ 28,481 $ 28,776 $ 16,752 $ 16,752 $ 3,679 $ 45,233 $ 45,528 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three months ended March 31, 2019 and 2018 . With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income Three months ended March 31, 2019 Builder & developer $ 1,124 $ 14 $ 69 $ 0 $ 1,193 $ 14 Commercial real estate investor 3,610 34 0 0 3,610 34 Residential real estate investor 615 5 4,346 0 4,961 5 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 2,723 3 7,402 0 10,125 3 Manufacturing 669 5 1,642 0 2,311 5 Agriculture 658 13 0 0 658 13 Other commercial 7,601 0 4,870 0 12,471 0 Total impaired commercial related loans 17,000 74 18,329 0 35,329 74 Residential mortgage 548 6 0 0 548 6 Home equity 604 6 0 0 604 6 Other consumer 277 4 0 0 277 4 Total impaired consumer related loans 1,429 16 0 0 1,429 16 Total impaired loans $ 18,429 $ 90 $ 18,329 $ 0 $ 36,758 $ 90 Three months ended March 31, 2018 Builder & developer $ 2,486 $ 6 $ 0 $ 0 $ 2,486 $ 6 Commercial real estate investor 4,552 60 530 0 5,082 60 Residential real estate investor 1,366 12 0 0 1,366 12 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 7,092 100 0 0 7,092 100 Manufacturing 3,752 91 0 0 3,752 91 Agriculture 378 1 0 0 378 1 Other commercial 1,024 15 0 0 1,024 15 Total impaired commercial related loans 20,650 285 530 0 21,180 285 Residential mortgage 261 0 0 0 261 0 Home equity 454 2 0 0 454 2 Other consumer 235 5 0 0 235 5 Total impaired consumer related loans 950 7 0 0 950 7 Total impaired loans $ 21,600 $ 292 $ 530 $ 0 $ 22,130 $ 292 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 March 31, 2019 and December 31, 2018 . ≥ 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 March 31, 2019 Builder & developer $ 0 $ 810 $ 0 $ 977 $ 1,787 $ 163,344 $ 165,131 Commercial real estate investor 0 0 1,828 231 2,059 207,075 209,134 Residential real estate investor 958 891 0 4,627 6,476 226,830 233,306 Hotel/Motel 0 0 0 0 0 84,521 84,521 Wholesale & retail 0 0 97 7,176 7,273 104,773 112,046 Manufacturing 0 666 0 1,594 2,260 76,379 78,639 Agriculture 12 0 0 655 667 64,760 65,427 Other 1,052 0 0 8,805 9,857 330,767 340,624 Total commercial related loans 2,022 2,367 1,925 24,065 30,379 1,258,449 1,288,828 Residential mortgage 577 42 65 431 1,115 85,484 86,599 Home equity 318 0 0 597 915 96,448 97,363 Other 435 27 9 282 753 21,419 22,172 Total consumer related loans 1,330 69 74 1,310 2,783 203,351 206,134 Total loans $ 3,352 $ 2,436 $ 1,999 $ 25,375 $ 33,162 $ 1,461,800 $ 1,494,962 December 31, 2018 Builder & developer $ 159 $ 547 $ 43 $ 774 $ 1,523 $ 153,454 $ 154,977 Commercial real estate investor 0 0 1,828 235 2,063 208,438 210,501 Residential real estate investor 244 812 0 5,059 6,115 225,003 231,118 Hotel/Motel 0 0 0 0 0 77,480 77,480 Wholesale & retail 0 0 97 7,629 7,726 109,554 117,280 Manufacturing 0 0 0 1,724 1,724 78,351 80,075 Agriculture 0 0 0 660 660 64,880 65,540 Other 4,877 0 0 3,450 8,327 334,512 342,839 Total commercial related loans 5,280 1,359 1,968 19,531 28,138 1,251,672 1,279,810 Residential mortgage 0 10 66 583 659 83,318 83,977 Home equity 206 94 0 611 911 97,108 98,019 Other 263 2 94 263 622 23,252 23,874 Total consumer related loans 469 106 160 1,457 2,192 203,678 205,870 Total loans $ 5,749 $ 1,465 $ 2,128 $ 20,988 $ 30,330 $ 1,455,350 $ 1,485,680 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. The table below shows loans whose terms have been modified under TDRs during the three months ended March 31, 2019 and 2018 . There were no impairment losses recognize d on this TDR. There were no defaults during the three months ended March 31, 2019 for TDRs entered into during the previous 12 month period ; however one loan is not performing under its modified terms . Modifications Pre-Modification Post-Modification Number Outstanding Outstanding Recorded of Recorded Recorded Investment (dollars in thousands) Contracts Investments Investments at Period End Three months ended: March 31, 2019 1 63 63 61 March 31, 2018 None |
Allowance For Loan Losses
Allowance For Loan Losses | 3 Months Ended |
Mar. 31, 2019 | |
Allowance For Loan Losses [Abstract] | |
Allowance For Loan Losses | NOTE 5 – 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 months ended March 31, 2019 and 2018 . Allowance for Loan Losses January 1, 2019 March 31, 2019 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,835 $ 0 $ 0 $ 132 $ 2,967 Commercial real estate investor 2,636 0 0 16 2,652 Residential real estate investor 3,945 0 3 62 4,010 Hotel/Motel 732 0 0 67 799 Wholesale & retail 1,813 0 0 (12) 1,801 Manufacturing 1,287 0 0 (21) 1,266 Agriculture 579 0 0 (1) 578 Other commercial 4,063 (46) 0 1,168 5,185 Total commercial related loans 17,890 (46) 3 1,411 19,258 Residential mortgage 126 0 0 6 132 Home equity 265 (20) 1 (51) 195 Other consumer 144 (60) 9 106 199 Total consumer related loans 535 (80) 10 61 526 Unallocated 719 0 0 (422) 297 Total $ 19,144 $ (126) $ 13 $ 1,050 $ 20,081 Allowance for Loan Losses January 1, 2018 March 31, 2018 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 3,388 $ 0 $ 18 $ (429) $ 2,977 Commercial real estate investor 3,013 0 0 (225) 2,788 Residential real estate investor 2,505 0 3 31 2,539 Hotel/Motel 637 0 0 122 759 Wholesale & retail 909 0 1 15 925 Manufacturing 592 0 0 (50) 542 Agriculture 431 0 0 18 449 Other commercial 2,643 0 0 72 2,715 Total commercial related loans 14,118 0 22 (446) 13,694 Residential mortgage 108 0 0 6 114 Home equity 217 0 0 (13) 204 Other consumer 66 (48) 3 131 152 Total consumer related loans 391 (48) 3 124 470 Unallocated 2,180 0 0 522 2,702 Total $ 16,689 $ (48) $ 25 $ 200 $ 16,866 The table below shows the allowance amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated fo r March 31, 2019, December 31, 2018 and March 31, 2018 . 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 March 31, 2019 Builder & developer $ 0 $ 2,967 $ 2,967 $ 1,201 $ 163,930 $ 165,131 Commercial real estate investor 0 2,652 2,652 2,669 206,465 209,134 Residential real estate investor 1,218 2,792 4,010 4,627 228,679 233,306 Hotel/Motel 0 799 799 0 84,521 84,521 Wholesale & retail 757 1,044 1,801 7,422 104,624 112,046 Manufacturing 539 727 1,266 1,594 77,045 78,639 Agriculture 0 578 578 655 64,772 65,427 Other commercial 2,260 2,925 5,185 8,805 331,819 340,624 Total commercial related 4,774 14,484 19,258 26,973 1,261,855 1,288,828 Residential mortgage 0 132 132 431 86,168 86,599 Home equity 0 195 195 597 96,766 97,363 Other consumer 0 199 199 282 21,890 22,172 Total consumer related 0 526 526 1,310 204,824 206,134 Unallocated 0 297 297 0 0 0 Total $ 4,774 $ 15,307 $ 20,081 $ 28,283 $ 1,466,679 $ 1,494,962 December 31, 2018 Builder & developer $ 51 $ 2,784 $ 2,835 $ 1,185 $ 153,792 $ 154,977 Commercial real estate investor 0 2,636 2,636 4,552 205,949 210,501 Residential real estate investor 1,218 2,727 3,945 5,294 225,824 231,118 Hotel/Motel 0 732 732 0 77,480 77,480 Wholesale & retail 757 1,056 1,813 12,829 104,451 117,280 Manufacturing 539 748 1,287 3,026 77,049 80,075 Agriculture 0 579 579 660 64,880 65,540 Other commercial 1,114 2,949 4,063 16,139 326,700 342,839 Total commercial related 3,679 14,211 17,890 43,685 1,236,125 1,279,810 Residential mortgage 0 126 126 665 83,312 83,977 Home equity 0 265 265 611 97,408 98,019 Other consumer 0 144 144 272 23,602 23,874 Total consumer related 0 535 535 1,548 204,322 205,870 Unallocated 0 719 719 0 0 0 Total $ 3,679 $ 15,465 $ 19,144 $ 45,233 $ 1,440,447 $ 1,485,680 March 31, 2018 Builder & developer $ 0 $ 2,977 $ 2,977 $ 2,298 $ 161,541 $ 163,839 Commercial real estate investor 0 2,788 2,788 4,520 226,461 230,981 Residential real estate investor 0 2,539 2,539 1,524 221,416 222,940 Hotel/Motel 0 759 759 0 75,074 75,074 Wholesale & retail 0 925 925 6,273 96,400 102,673 Manufacturing 0 542 542 3,664 63,802 67,466 Agriculture 0 449 449 440 62,125 62,565 Other commercial 0 2,715 2,715 1,129 295,174 296,303 Total commercial related 0 13,694 13,694 19,848 1,201,993 1,221,841 Residential mortgage 0 114 114 275 80,551 80,826 Home equity 0 204 204 457 97,189 97,646 Other consumer 0 152 152 233 23,211 23,444 Total consumer related 0 470 470 965 200,951 201,916 Unallocated 0 2,702 2,702 0 0 0 Total $ 0 $ 16,866 $ 16,866 $ 20,813 $ 1,402,944 $ 1,423,757 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Deposits | |
Deposits | Note 6—Deposits The composition of deposits as of March 31, 2019 and December 31, 2018 is shown below. The aggregate amount of demand deposit overdrafts that were reclassified as loans is $101,000 at March 31, 2019, compared to $116,000 at December 31, 2018. March 31, December 31, (dollars in thousands) 2019 2018 Noninterest bearing demand $ 253,114 $ 252,777 Interest bearing demand 159,608 156,858 Money market 507,376 535,454 Savings 89,737 85,415 Time deposits less than $100 281,070 271,794 Time deposits $100 to $250 156,193 144,866 Time deposits $250 or more 55,779 48,116 Total deposits $ 1,502,877 $ 1,495,280 |
Short-Term Borrowings And Long-
Short-Term Borrowings And Long-Term Debt | 3 Months Ended |
Mar. 31, 2019 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Short-Term Borrowings And Long-Term Debt | Note 7—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 March 31, 2019 , the balance of securities sold under agreements to repurchase was $6,830,000 compared to $7,022,000 at December 31, 2018 . At March 31, 2019 and December 31 , 2018, there were no other short-term borrowings. The following table presents a summary of long-term debt as of March 31, 2019 and December 31, 2018 . 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. March 31, December 31, (dollars in thousands) 2019 2018 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due April 2019 , 1.64% $ 10,000 10,000 Due June 2019 , 1.64% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due December 2019 , 1.89% 15,000 15,000 Due March 2020 , 1.86% 10,000 10,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2020 , 2.70% 10,000 10,000 Due June 2021 , 2.81% 10,000 10,000 Due June 2021 , 2.14% 15,000 15,000 Due May 2022 , 2.98% 10,000 10,000 Total FHLBP 105,000 105,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 4.63% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 4.33% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total junior subordinated debt 10,310 10,310 Lease obligations included in long-term debt: Finance lease liabilities 1,469 0 Total long-term debt $ 116,779 $ 115,310 At March 31, 2019 and December 31, 2018 , municipal deposit letters of credit issued by the FHLBP on behalf of PeoplesBank naming applicable municipalities as beneficiaries were $42,000,000 . The letters of credit took the place of securities pledged to the municipalities for their deposits maintained at PeoplesBank. 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. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Note 8—Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Corporation adopted ASU 2016-02 “ Leases” (Topic 842) and all subsequent ASUs that modified Topic 842. For the Corporation, Topic 842 affected the accounting treatment for operating lease agreements in which the Corporation is the lessee. Substantially all of the leases in which the Corporation is the lessee are comprised of real estate property, ATM locations, and office space. Substantially all of our leases are classified as operating leases, and therefore, were previously not recognized on the Corporation’s consolidated statements of condition. With the adoption of Topic 842, operating lease agreements are required to be recognized on the consolidated statements of condition as a right-of-use (“ROU”) asset and a corresponding lease liability. The Corporation has two finance leases for two financial centers. Leases with an initial term of 12 months or less are not recorded on the consolidated statement of condition. The leases have remaining lease terms of 1 year to 25 years, some of which include options to extend. Upon opening a new financial center, we typically install brand-specific leasehold improvements which are depreciated over the shorter of the useful life or length of the lease. To the extent that the initial lease term of the related lease is less than the useful life of the leasehold improvements and, taking into consideration the dollar amount of the improvements, we conclude that it is reasonably certain that a renewal option will be exercised, the renewal period is included in the lease term, and the related payments are reflected in the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Corporation utilizes its incremental borrowing rate at lease inception, on an amortizing and collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. For the Corporation’s financing leases, the Corporation utilized its incremental borrowing rate at lease inception. All of our leases include fixed rental payments. We commonly enter into leases under which the lease payments increase at pre-determined dates based on the change in the consumer price index. While the majority of our leases are gross leases, we also have a number of leases in which we make separate payments to the lessor based on the lessor’s property and casualty insurance cost and the property taxes assessed on the property, as well as a portion of the common area maintenance associated with the property. We have elected the practical expedient not to separate lease and nonlease components for all of our building leases. The components of lease expense were as follows: Three Months Ended March 31, 2019 (dollars in thousands) Operating lease cost $ 188 Finance lease cost: Amortization of right-of-use assets $ 17 Interest on lease liability 13 Total finance lease cost $ 30 Total lease cost $ 218 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2019 Operating cash flows from operating leases $ 193 Operating cash flows from financing leases 13 Financing cash flows from financing leases 11 Right-of-use assets obtained in exchange for lease obligations: Operating leases 0 Finance leases 0 Amounts recognized as right-of-use assets related to finance leases are included in fixed assets in the accompanying statement of financial position, while related lease liabilities are included in long-term debt. Supplemental balance sheet information related to leases was as follows: March 31, 2019 Assets: Operating leases right-of-use assets $ 2,684 Finance leases assets 1,294 Total lease assets $ 3,978 Liabilities: Operating $ 2,864 Financing 1,469 Total lease liabilities $ 4,333 Weighted Average Remaining Lease Term (years) Operating leases 5.0 Finance leases 23.3 Weighted Average Discount Rate Operating leases 2.97% Finance leases 3.63% Future minimum payments for financing leases and operating leases with initial terms of one year or more as of March 31, 2019 were as follows: Year Ending December 31, Operating Leases Finance Leases 2019 $ 573 $ 71 2020 643 99 2021 572 100 2022 425 100 2023 382 100 Thereafter 512 1,767 Total lease payments 3,107 2,237 Less imputed interest (243) (768) Total $ 2,864 $ 1,469 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2019 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 9 —Regulatory Matters The Corporation 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 the Corporation’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation 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 March 31, 2019 , the Corporation 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 Basel III Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at March 31, 2019 Capital ratios: Common equity Tier 1 $ 180,990 12.16 % $ 104,158 7.000 % n/a n/a Tier 1 risk based 190,990 12.84 126,477 8.500 n/a n/a Total risk based 209,608 14.09 156,236 10.500 n/a n/a Leverage 190,990 10.58 72,211 4.00 n/a n/a at December 31, 2018 Capital ratios: Common equity Tier 1 $ 178,656 12.15 % $ 93,708 6.375 % n/a n/a Tier 1 risk based 188,656 12.83 115,757 7.875 n/a n/a Total risk based 207,040 14.08 145,155 9.875 n/a n/a Leverage 188,656 10.46 72,119 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at March 31, 2019 Capital ratios: Common equity Tier 1 $ 187,177 12.61 % $ 103,913 7.000 % $ 96,491 6.50 % Tier 1 risk based 187,177 12.61 126,180 8.500 118,758 8.00 Total risk based 205,752 13.86 155,869 10.500 148,447 10.00 Leverage 187,177 10.39 72,071 4.00 90,089 5.00 at December 31, 2018 Capital ratios: Common equity Tier 1 $ 184,420 12.58 % $ 93,466 6.375 % $ 95,298 6.50 % Tier 1 risk based 184,420 12.58 115,457 7.875 117,290 8.00 Total risk based 202,757 13.83 144,780 9.875 146,613 10.00 Leverage 184,420 10.25 71,968 4.00 89,960 5.00 (1) Minimum Basel III capital adequacy requirements in order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers. Minimum amounts and ratios as of March 31, 2019 include the full phase in of the capital conservation buffer of 2 . 5 percent required by the Basel III framework. At December 31, 2018 , the minimum amount s and ratios included the third year phase in of the cap ital conservation buffer of 1.875 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 | 3 Months Ended |
Mar. 31, 2019 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 10 —Shareholders’ Equity Stock Dividend Periodically, the Corporation distributes stock dividends on its common stock. T he Corporation d istributed 5 percent stock dividends on December 11, 2018 and December 12, 2017, which result ed in the issuance of 447,092 and 422,439 additional shares , respectively . |
Contingent Liabilities
Contingent Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
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 | 3 Months Ended |
Mar. 31, 2019 | |
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 client 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 clients. The Corporation generally holds collateral and/or personal guarantees supporting these commitments. The Corporation had $22,773,000 of standby letters of credit outstanding on March 31, 2019 , compared to $23,737,000 on December 31, 2018 . 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 March 31, 2019 and December 31, 2018 , 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 | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 Securities available-for-sale: U.S. Treasury notes $ 19,284 $ 19,284 $ 0 $ 0 U.S. agency 15,379 0 15,379 0 U.S. agency mortgage-backed, residential 81,267 0 81,267 0 State and municipal 33,238 0 33,238 0 December 31, 2018 Securities available-for-sale: U.S. Treasury notes $ 19,003 $ 19,003 $ 0 $ 0 U.S. agency 15,063 0 15,063 0 U.S. agency mortgage-backed, residential 74,555 0 74,555 0 State and municipal 40,972 0 40,972 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 March 31, 2019 , the fair value of impaired loans with a valuation allowance or partial charge-off was $15,402,000 , net of valuation allowances of $ 4,774 ,000 and partial charge-offs of $134,000 . At December 31, 2018 the fair value of impaired loans with a valuation allowance or charge-off was $13,297,000 , net of valuation allowances of $3,679,000 and charge-offs of $134,000 . 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 March 31, 2019 and December 31, 2018 , there were no foreclosed real estate assets with a valuation allowance or write-down. 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 March 31, 2019 Impaired loans $ 15,402 $ 0 $ 0 $ 15,402 December 31, 2018 Impaired loans $ 13,297 $ 0 $ 0 $ 13,297 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 March 31, 2019 Impaired loans $ 7,944 Appraisal (1) Appraisal adjustments (2) 15% - 50% 42% Impaired loans 7,458 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 52% 48% December 31, 2018 Impaired loans $ 5,257 Appraisal (1) Appraisal adjustments (2) 15% - 50% 39% Impaired loans 8,040 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 53% 51% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as econcomic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. (3) Fair value is generally determined through customer-provided financial statements. (4) Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. The following presents the carrying amounts and estimated fair values of the Corporation’s financial instruments as of March 31, 2019 and December 31, 2018 . 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 March 31, 2019 Financial assets Cash and cash equivalents $ 94,285 $ 94,285 $ 94,285 $ 0 $ 0 Securities available-for-sale 149,168 149,168 19,284 129,884 0 Restricted investment in bank stocks 5,322 5,322 0 5,322 0 Loans held for sale 4,778 4,978 0 4,978 0 Loans, net 1,474,881 1,452,023 0 0 1,452,023 Interest receivable 5,182 5,182 0 5,182 0 Mortgage servicing rights 922 1,002 0 0 1,002 Financial liabilities Deposits $ 1,502,877 $ 1,490,098 $ 0 $ 1,490,098 $ 0 Short-term borrowings 6,830 6,830 0 6,830 0 Long-term debt (1) 115,310 117,245 0 109,336 7,909 Interest payable 978 978 0 978 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2018 Financial assets Cash and cash equivalents $ 96,782 $ 96,782 $ 96,782 $ 0 $ 0 Securities available-for-sale 149,593 149,593 19,003 130,590 0 Restricted investment in bank stocks 5,922 5,922 0 5,922 0 Loans held for sale 4,127 4,302 0 4,302 0 Loans, net 1,466,536 1,437,415 0 0 1,437,415 Interest receivable 5,552 5,552 0 5,552 0 Mortgage servicing rights 925 1,052 0 0 1,052 Financial liabilities Deposits $ 1,495,280 $ 1,479,997 $ 0 $ 1,479,997 $ 0 Short-term borrowings 7,022 7,022 0 7,022 0 Long-term debt 115,310 112,406 0 104,332 8,074 Interest payable 836 836 0 836 0 Off-balance sheet instruments 0 0 0 0 0 (1) Exclude leases included in Long-term debt |
Assets And Liabilities Subject
Assets And Liabilities Subject To Offsetting | 3 Months Ended |
Mar. 31, 2019 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Assets And Liabilities Subject To Offsetting | Note 13—Assets and Liabilities Subject to Offsetting Securities Sold Under Agreements to Repurchase PeoplesBank enters into agreements with clients 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 March 31, 2019 Repurchase Agreements $ 6,830 $ 0 $ 6,830 $ (7,988) $ 0 $ 0 $ (1,158) December 31, 2018 Repurchase Agreements $ 7,022 $ 0 $ 7,022 $ (8,981) $ 0 $ 0 $ (1,959) |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2018 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 three wholly-owned subsidiaries as of March 31, 2019 . Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit investment products in Pennsylvania; SYC Settlement Services, Inc., which provides real estate settlement services and Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit investment products in Maryland. 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 a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the period ended March 31, 2019 . The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 7—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, 2018 . The results of operations for the three months ended March 31, 2019 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 March 31, 2019 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. Generally, 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. |
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 nonaccrual loans and troubled debt restructurings. 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 4—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. 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 some 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 March 31, 2019 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 both March 31, 2019 and December 31, 2018, there was $ 1,755,000 of foreclosed real estate, which included $18,000 of residential real estate. Included within loans receivable as of March 31, 2019 was a recorded investment of $255,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. |
Mortgage Servicing Rights | Mortgage Servicing Rights 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 March 31, 2019 , the balance of residential mortgage loans serviced for third parties was $104,621,000 compared to $98,852,000 at December 31, 2018 . Three months ended March 31, (dollars in thousands) 2019 2018 Amortized cost: Balance at beginning of period $ 925 $ 672 Originations of mortgage servicing rights 50 68 Amortization expense (36) (25) Valuation allowance (17) 0 Balance at end of period $ 922 $ 715 |
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, 2018. 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 March 31, 2019 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Revenue from contracts with customers that are required to be recognized under FASB ASC Topic 606 - Revenue from Contracts with Customers (ASC 606) is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Corporation recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues credits as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a referral arrangement. Such fees represent fees charged to merchants to process their debit card transactions. The Corporation’s performance obligation for these fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received within a one to three day lag or in the following month. |
Per Share Data | Per Share Data All per share computations include the effect of stock dividends distributed. The computation of net income per share is provided in the table below. Three months ended March 31, (in thousands, except per share data) 2019 2018 Net income $ 4,091 $ 4,083 Weighted average shares outstanding (basic) 9,455 9,359 Effect of dilutive stock options 66 96 Weighted average shares outstanding (diluted) 9,521 9,455 Basic earnings per share $ 0.43 $ 0.44 Diluted earnings per share $ 0.43 $ 0.43 Anti-dilutive stock options excluded from the computation of earnings per share 30 16 |
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. Three months ended March 31, (dollars in thousands) 2019 2018 Cash paid during the period for: Income taxes $ 300 $ 0 Interest $ 5,203 $ 3,298 Noncash investing and financing activities: Initial recognition of financing lease right-of-use assets $ 1,358 $ 0 Initial recognition of financing lease liabilities $ 1,480 $ 0 Initial recognition of operating lease right-of-use assets $ 2,958 $ 0 Initial recognition of operating lease liabilities $ 3,035 $ 0 Increase in other liabilities for purchase of securities settling after quarter end $ 1,004 $ 0 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Pronouncements Adopted in 2019 In February 2016, the FASB issued ASU 2016-02, Leases and in July 2018 issued ASU 2018-10 and ASU 2018-11, Codification Improvements to Topic 842, 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 a 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 doesn’t 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 adopted the new standard effective January 1, 2019, which resulted in an increase in assets to recognize the present value of the lease obligations (right-of-use assets) with a corresponding increase in liabilities as discussed in Note 8-Leases. The adoption did not have an overall material impact on the Corporation’s consolidated financial statements of income. In July 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting. This standard expands the scope of Topic 718, Compensation – Stock Compensation to include share-based payment transactions for acquiring goods and services from nonemployees. This standard requires application of Topic 718 to nonemployee awards for specific guidance on inputs to an option pricing model and the attribution of costs (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments in the Update are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Corporation adopted the new standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Corporation’s consolidated financial statements. Pronouncements Not Yet Effective In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350). This standard simplifies the test for goodwill impairment by eliminating the requirement to calculate the implied fair value of goodwill, which currently is Step 2 of the goodwill impairment test. Instead, the goodwill impairment test will consist of a single quantitative step comparing the fair value of the reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and any interim goodwill impairment tests in reporting periods beginning after December 15, 2019. Early adoption is permitted. The Corporation intends to adopt this standard effective with its January 1, 2020 goodwill impairment test and the adoption of this standard is not expected to have a material impact on its consolidated financial statements based on current circumstances. 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 planning to adopt the standard in the first quarter of 2020 and is continuing its implementation, having established a Corporation-wide implementation team. The team is in the final stages of selecting a vendor partner and a model . We are also finalizing the develop ment and documenting of processes, controls, policies and disclosure requirements in preparation for performing a full parallel run. The Corporation expects the provisions of ASU No. 2016-13 to impact the Corporation’s consolidated financial statements, in particular, the level of the reserve for credit losses. The Corporation is continuing to evaluate the extent of the potential impact and expects that portfolio composition and economic conditions at the time of adoption will be a factor. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, Fair Value Measurement. The following disclosure requirements were removed: the amount of and reasons for transfers between Level 1 and Level 2, the policy for timing of transfers between levels, and the valuation processes for Level 3 fair value measurements. The following disclosure requirements were modified: for investments in certain entities that calculate net asset value, and entity is required to disclose the timing of liquidation of investee’s assets and the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added: the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The update is effective for fiscal years beginning after December 15, 2019. The Corporation is currently evaluating the impact of the adoption of this update on its disclosures. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20). The amendments in this update remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The update is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this update on its disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with those incurred to develop or obtain internal-use software. This standard requires application of Subtopic 350-40 to determine which costs to implement the service contract would be capitalized as an asset and which costs would be expensed. The amendments in the Update are effective for the years beginning after December 15, 2019. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Changes In Mortgage Service Rights | Three months ended March 31, (dollars in thousands) 2019 2018 Amortized cost: Balance at beginning of period $ 925 $ 672 Originations of mortgage servicing rights 50 68 Amortization expense (36) (25) Valuation allowance (17) 0 Balance at end of period $ 922 $ 715 |
Schedule Of Computation Of Net Income Per Common Share | Three months ended March 31, (in thousands, except per share data) 2019 2018 Net income $ 4,091 $ 4,083 Weighted average shares outstanding (basic) 9,455 9,359 Effect of dilutive stock options 66 96 Weighted average shares outstanding (diluted) 9,521 9,455 Basic earnings per share $ 0.43 $ 0.44 Diluted earnings per share $ 0.43 $ 0.43 Anti-dilutive stock options excluded from the computation of earnings per share 30 16 |
Schedule Of Supplemental Cash Flow Information | Three months ended March 31, (dollars in thousands) 2019 2018 Cash paid during the period for: Income taxes $ 300 $ 0 Interest $ 5,203 $ 3,298 Noncash investing and financing activities: Initial recognition of financing lease right-of-use assets $ 1,358 $ 0 Initial recognition of financing lease liabilities $ 1,480 $ 0 Initial recognition of operating lease right-of-use assets $ 2,958 $ 0 Initial recognition of operating lease liabilities $ 3,035 $ 0 Increase in other liabilities for purchase of securities settling after quarter end $ 1,004 $ 0 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Securities [Abstract] | |
Summary Of Securities Available-For-Sale | Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value March 31, 2019 Debt securities: U.S. Treasury notes $ 19,788 $ 39 $ (543) $ 19,284 U.S. agency 16,000 0 (621) 15,379 U.S. agency mortgage-backed, residential 81,345 421 (499) 81,267 State and municipal 33,082 181 (25) 33,238 Total debt securities $ 150,215 $ 641 $ (1,688) $ 149,168 December 31, 2018 Debt securities: U.S. Treasury notes $ 19,780 $ 29 $ (806) $ 19,003 U.S. agency 16,000 0 (937) 15,063 U.S. agency mortgage-backed, residential 75,446 102 (993) 74,555 State and municipal 41,184 85 (297) 40,972 Total debt securities $ 152,410 $ 216 $ (3,033) $ 149,593 |
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 $ 3,439 $ 3,443 Due after one year through five years 89,460 88,997 Due after five years through ten years 46,896 46,221 Due after ten years 10,420 10,507 Total debt securities $ 150,215 $ 149,168 |
Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale | Three months ended March 31, (dollars in thousands) 2019 2018 Realized gains $ 3 $ 0 Realized losses (7) 0 Net losses $ (4) $ 0 |
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 March 31, 2019 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 14,250 $ (543) 3 $ 14,250 $ (543) U.S. agency 0 0 0 4 15,379 (621) 4 15,379 (621) U.S. agency mortgage-backed, residential 6 6,237 (91) 29 37,665 (408) 35 43,902 (499) State and municipal 2 1,036 (2) 14 7,266 (23) 16 8,302 (25) Total temporarily impaired debt securities, available-for-sale 8 $ 7,273 $ (93) 50 $ 74,560 $ (1,595) 58 $ 81,833 $ (1,688) December 31, 2018 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 13,980 $ (806) 3 $ 13,980 $ (806) U.S. agency 0 0 0 4 15,063 (937) 4 15,063 (937) U.S. agency mortgage-backed, residential 8 4,878 (14) 39 51,137 (979) 47 56,015 (993) State and municipal 15 6,707 (11) 36 20,287 (286) 51 26,994 (297) Total temporarily impaired debt securities, available-for-sale 23 $ 11,585 $ (25) 82 $ 100,467 $ (3,008) 105 $ 112,052 $ (3,033) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Loans [Abstract] | |
Schedule Of Loan Portfolio Composition | March 31, % Total December 31, % Total (dollars in thousands) 2019 Loans 2018 Loans Builder & developer $ 165,131 11.0 $ 154,977 10.4 Commercial real estate investor 209,134 14.0 210,501 14.2 Residential real estate investor 233,306 15.6 231,118 15.6 Hotel/Motel 84,521 5.7 77,480 5.2 Wholesale & retail 112,046 7.5 117,280 7.9 Manufacturing 78,639 5.3 80,075 5.4 Agriculture 65,427 4.4 65,540 4.4 Other 340,624 22.7 342,839 23.0 Total commercial related loans 1,288,828 86.2 1,279,810 86.1 Residential mortgages 86,599 5.8 83,977 5.7 Home equity 97,363 6.5 98,019 6.6 Other 22,172 1.5 23,874 1.6 Total consumer related loans 206,134 13.8 205,870 13.9 Total loans $ 1,494,962 100.0 $ 1,485,680 100.0 |
Summary Of Loan Risk Ratings By Loan Class | Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total March 31, 2019 Builder & developer $ 160,978 $ 2,904 $ 272 $ 977 $ 165,131 Commercial real estate investor 201,743 2,893 4,267 231 209,134 Residential real estate investor 223,167 5,286 226 4,627 233,306 Hotel/Motel 84,521 0 0 0 84,521 Wholesale & retail 91,974 8,449 4,447 7,176 112,046 Manufacturing 74,180 1,636 1,229 1,594 78,639 Agriculture 61,665 757 2,350 655 65,427 Other 316,544 1,203 14,072 8,805 340,624 Total commercial related loans 1,214,772 23,128 26,863 24,065 1,288,828 Residential mortgage 85,949 137 82 431 86,599 Home equity 96,755 11 0 597 97,363 Other 21,881 0 9 282 22,172 Total consumer related loans 204,585 148 91 1,310 206,134 Total loans $ 1,419,357 $ 23,276 $ 26,954 $ 25,375 $ 1,494,962 December 31, 2018 Builder & developer $ 152,188 $ 1,604 $ 411 $ 774 $ 154,977 Commercial real estate investor 204,141 1,808 4,317 235 210,501 Residential real estate investor 222,227 3,597 235 5,059 231,118 Hotel/Motel 77,480 0 0 0 77,480 Wholesale & retail 94,726 9,973 4,952 7,629 117,280 Manufacturing 72,058 4,991 1,302 1,724 80,075 Agriculture 61,636 3,244 0 660 65,540 Other 318,940 7,760 12,689 3,450 342,839 Total commercial related loans 1,203,396 32,977 23,906 19,531 1,279,810 Residential mortgage 83,305 7 82 583 83,977 Home equity 97,395 13 0 611 98,019 Other 23,601 1 9 263 23,874 Total consumer related loans 204,301 21 91 1,457 205,870 Total loans $ 1,407,697 $ 32,998 $ 23,997 $ 20,988 $ 1,485,680 |
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 March 31, 2019 Builder & developer $ 1,201 $ 1,345 $ 0 $ 0 $ 0 $ 1,201 $ 1,345 Commercial real estate investor 2,669 2,669 0 0 0 2,669 2,669 Residential real estate investor 321 324 4,306 4,345 1,218 4,627 4,669 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 246 246 7,176 7,455 757 7,422 7,701 Manufacturing 17 17 1,577 1,634 539 1,594 1,651 Agriculture 655 655 0 0 0 655 655 Other commercial 1,957 1,957 6,848 6,854 2,260 8,805 8,811 Total impaired commercial related loans 7,066 7,213 19,907 20,288 4,774 26,973 27,501 Residential mortgage 431 455 0 0 0 431 455 Home equity 597 597 0 0 0 597 597 Other consumer 282 283 0 0 0 282 283 Total impaired consumer related loans 1,310 1,335 0 0 0 1,310 1,335 Total impaired loans $ 8,376 $ 8,548 $ 19,907 $ 20,288 $ 4,774 $ 28,283 $ 28,836 December 31, 2018 Builder & developer $ 1,047 $ 1,318 $ 138 $ 138 $ 51 $ 1,185 $ 1,456 Commercial real estate investor 4,552 4,552 0 0 0 4,552 4,552 Residential real estate investor 909 909 4,385 4,385 1,218 5,294 5,294 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 5,200 5,200 7,629 7,629 757 12,829 12,829 Manufacturing 1,320 1,320 1,706 1,706 539 3,026 3,026 Agriculture 660 660 0 0 0 660 660 Other commercial 13,245 13,245 2,894 2,894 1,114 16,139 16,139 Total impaired commercial related loans 26,933 27,204 16,752 16,752 3,679 43,685 43,956 Residential mortgage 665 689 0 0 0 665 689 Home equity 611 611 0 0 0 611 611 Other consumer 272 272 0 0 0 272 272 Total impaired consumer related loans 1,548 1,572 0 0 0 1,548 1,572 Total impaired loans $ 28,481 $ 28,776 $ 16,752 $ 16,752 $ 3,679 $ 45,233 $ 45,528 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three months ended March 31, 2019 and 2018 . With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income Three months ended March 31, 2019 Builder & developer $ 1,124 $ 14 $ 69 $ 0 $ 1,193 $ 14 Commercial real estate investor 3,610 34 0 0 3,610 34 Residential real estate investor 615 5 4,346 0 4,961 5 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 2,723 3 7,402 0 10,125 3 Manufacturing 669 5 1,642 0 2,311 5 Agriculture 658 13 0 0 658 13 Other commercial 7,601 0 4,870 0 12,471 0 Total impaired commercial related loans 17,000 74 18,329 0 35,329 74 Residential mortgage 548 6 0 0 548 6 Home equity 604 6 0 0 604 6 Other consumer 277 4 0 0 277 4 Total impaired consumer related loans 1,429 16 0 0 1,429 16 Total impaired loans $ 18,429 $ 90 $ 18,329 $ 0 $ 36,758 $ 90 Three months ended March 31, 2018 Builder & developer $ 2,486 $ 6 $ 0 $ 0 $ 2,486 $ 6 Commercial real estate investor 4,552 60 530 0 5,082 60 Residential real estate investor 1,366 12 0 0 1,366 12 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 7,092 100 0 0 7,092 100 Manufacturing 3,752 91 0 0 3,752 91 Agriculture 378 1 0 0 378 1 Other commercial 1,024 15 0 0 1,024 15 Total impaired commercial related loans 20,650 285 530 0 21,180 285 Residential mortgage 261 0 0 0 261 0 Home equity 454 2 0 0 454 2 Other consumer 235 5 0 0 235 5 Total impaired consumer related loans 950 7 0 0 950 7 Total impaired loans $ 21,600 $ 292 $ 530 $ 0 $ 22,130 $ 292 |
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 March 31, 2019 Builder & developer $ 0 $ 810 $ 0 $ 977 $ 1,787 $ 163,344 $ 165,131 Commercial real estate investor 0 0 1,828 231 2,059 207,075 209,134 Residential real estate investor 958 891 0 4,627 6,476 226,830 233,306 Hotel/Motel 0 0 0 0 0 84,521 84,521 Wholesale & retail 0 0 97 7,176 7,273 104,773 112,046 Manufacturing 0 666 0 1,594 2,260 76,379 78,639 Agriculture 12 0 0 655 667 64,760 65,427 Other 1,052 0 0 8,805 9,857 330,767 340,624 Total commercial related loans 2,022 2,367 1,925 24,065 30,379 1,258,449 1,288,828 Residential mortgage 577 42 65 431 1,115 85,484 86,599 Home equity 318 0 0 597 915 96,448 97,363 Other 435 27 9 282 753 21,419 22,172 Total consumer related loans 1,330 69 74 1,310 2,783 203,351 206,134 Total loans $ 3,352 $ 2,436 $ 1,999 $ 25,375 $ 33,162 $ 1,461,800 $ 1,494,962 December 31, 2018 Builder & developer $ 159 $ 547 $ 43 $ 774 $ 1,523 $ 153,454 $ 154,977 Commercial real estate investor 0 0 1,828 235 2,063 208,438 210,501 Residential real estate investor 244 812 0 5,059 6,115 225,003 231,118 Hotel/Motel 0 0 0 0 0 77,480 77,480 Wholesale & retail 0 0 97 7,629 7,726 109,554 117,280 Manufacturing 0 0 0 1,724 1,724 78,351 80,075 Agriculture 0 0 0 660 660 64,880 65,540 Other 4,877 0 0 3,450 8,327 334,512 342,839 Total commercial related loans 5,280 1,359 1,968 19,531 28,138 1,251,672 1,279,810 Residential mortgage 0 10 66 583 659 83,318 83,977 Home equity 206 94 0 611 911 97,108 98,019 Other 263 2 94 263 622 23,252 23,874 Total consumer related loans 469 106 160 1,457 2,192 203,678 205,870 Total loans $ 5,749 $ 1,465 $ 2,128 $ 20,988 $ 30,330 $ 1,455,350 $ 1,485,680 |
Summary Of Loans Modified Under TDRs | Modifications Pre-Modification Post-Modification Number Outstanding Outstanding Recorded of Recorded Recorded Investment (dollars in thousands) Contracts Investments Investments at Period End Three months ended: March 31, 2019 1 63 63 61 March 31, 2018 None |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Allowance For Loan Losses [Abstract] | |
Summary Of Allowance For Loan Losses By Loan Segment And Class | Allowance for Loan Losses January 1, 2019 March 31, 2019 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,835 $ 0 $ 0 $ 132 $ 2,967 Commercial real estate investor 2,636 0 0 16 2,652 Residential real estate investor 3,945 0 3 62 4,010 Hotel/Motel 732 0 0 67 799 Wholesale & retail 1,813 0 0 (12) 1,801 Manufacturing 1,287 0 0 (21) 1,266 Agriculture 579 0 0 (1) 578 Other commercial 4,063 (46) 0 1,168 5,185 Total commercial related loans 17,890 (46) 3 1,411 19,258 Residential mortgage 126 0 0 6 132 Home equity 265 (20) 1 (51) 195 Other consumer 144 (60) 9 106 199 Total consumer related loans 535 (80) 10 61 526 Unallocated 719 0 0 (422) 297 Total $ 19,144 $ (126) $ 13 $ 1,050 $ 20,081 Allowance for Loan Losses January 1, 2018 March 31, 2018 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 3,388 $ 0 $ 18 $ (429) $ 2,977 Commercial real estate investor 3,013 0 0 (225) 2,788 Residential real estate investor 2,505 0 3 31 2,539 Hotel/Motel 637 0 0 122 759 Wholesale & retail 909 0 1 15 925 Manufacturing 592 0 0 (50) 542 Agriculture 431 0 0 18 449 Other commercial 2,643 0 0 72 2,715 Total commercial related loans 14,118 0 22 (446) 13,694 Residential mortgage 108 0 0 6 114 Home equity 217 0 0 (13) 204 Other consumer 66 (48) 3 131 152 Total consumer related loans 391 (48) 3 124 470 Unallocated 2,180 0 0 522 2,702 Total $ 16,689 $ (48) $ 25 $ 200 $ 16,866 |
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 March 31, 2019 Builder & developer $ 0 $ 2,967 $ 2,967 $ 1,201 $ 163,930 $ 165,131 Commercial real estate investor 0 2,652 2,652 2,669 206,465 209,134 Residential real estate investor 1,218 2,792 4,010 4,627 228,679 233,306 Hotel/Motel 0 799 799 0 84,521 84,521 Wholesale & retail 757 1,044 1,801 7,422 104,624 112,046 Manufacturing 539 727 1,266 1,594 77,045 78,639 Agriculture 0 578 578 655 64,772 65,427 Other commercial 2,260 2,925 5,185 8,805 331,819 340,624 Total commercial related 4,774 14,484 19,258 26,973 1,261,855 1,288,828 Residential mortgage 0 132 132 431 86,168 86,599 Home equity 0 195 195 597 96,766 97,363 Other consumer 0 199 199 282 21,890 22,172 Total consumer related 0 526 526 1,310 204,824 206,134 Unallocated 0 297 297 0 0 0 Total $ 4,774 $ 15,307 $ 20,081 $ 28,283 $ 1,466,679 $ 1,494,962 December 31, 2018 Builder & developer $ 51 $ 2,784 $ 2,835 $ 1,185 $ 153,792 $ 154,977 Commercial real estate investor 0 2,636 2,636 4,552 205,949 210,501 Residential real estate investor 1,218 2,727 3,945 5,294 225,824 231,118 Hotel/Motel 0 732 732 0 77,480 77,480 Wholesale & retail 757 1,056 1,813 12,829 104,451 117,280 Manufacturing 539 748 1,287 3,026 77,049 80,075 Agriculture 0 579 579 660 64,880 65,540 Other commercial 1,114 2,949 4,063 16,139 326,700 342,839 Total commercial related 3,679 14,211 17,890 43,685 1,236,125 1,279,810 Residential mortgage 0 126 126 665 83,312 83,977 Home equity 0 265 265 611 97,408 98,019 Other consumer 0 144 144 272 23,602 23,874 Total consumer related 0 535 535 1,548 204,322 205,870 Unallocated 0 719 719 0 0 0 Total $ 3,679 $ 15,465 $ 19,144 $ 45,233 $ 1,440,447 $ 1,485,680 March 31, 2018 Builder & developer $ 0 $ 2,977 $ 2,977 $ 2,298 $ 161,541 $ 163,839 Commercial real estate investor 0 2,788 2,788 4,520 226,461 230,981 Residential real estate investor 0 2,539 2,539 1,524 221,416 222,940 Hotel/Motel 0 759 759 0 75,074 75,074 Wholesale & retail 0 925 925 6,273 96,400 102,673 Manufacturing 0 542 542 3,664 63,802 67,466 Agriculture 0 449 449 440 62,125 62,565 Other commercial 0 2,715 2,715 1,129 295,174 296,303 Total commercial related 0 13,694 13,694 19,848 1,201,993 1,221,841 Residential mortgage 0 114 114 275 80,551 80,826 Home equity 0 204 204 457 97,189 97,646 Other consumer 0 152 152 233 23,211 23,444 Total consumer related 0 470 470 965 200,951 201,916 Unallocated 0 2,702 2,702 0 0 0 Total $ 0 $ 16,866 $ 16,866 $ 20,813 $ 1,402,944 $ 1,423,757 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Deposits | |
Schedule Of Composition Of Deposits | March 31, December 31, (dollars in thousands) 2019 2018 Noninterest bearing demand $ 253,114 $ 252,777 Interest bearing demand 159,608 156,858 Money market 507,376 535,454 Savings 89,737 85,415 Time deposits less than $100 281,070 271,794 Time deposits $100 to $250 156,193 144,866 Time deposits $250 or more 55,779 48,116 Total deposits $ 1,502,877 $ 1,495,280 |
Short-Term Borrowings And Lon_2
Short-Term Borrowings And Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Summary Of Long-Term Debt | March 31, December 31, (dollars in thousands) 2019 2018 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due April 2019 , 1.64% $ 10,000 10,000 Due June 2019 , 1.64% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due December 2019 , 1.89% 15,000 15,000 Due March 2020 , 1.86% 10,000 10,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2020 , 2.70% 10,000 10,000 Due June 2021 , 2.81% 10,000 10,000 Due June 2021 , 2.14% 15,000 15,000 Due May 2022 , 2.98% 10,000 10,000 Total FHLBP 105,000 105,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 4.63% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 4.33% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total junior subordinated debt 10,310 10,310 Lease obligations included in long-term debt: Finance lease liabilities 1,469 0 Total long-term debt $ 116,779 $ 115,310 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Components of Lease Expense | Three Months Ended March 31, 2019 (dollars in thousands) Operating lease cost $ 188 Finance lease cost: Amortization of right-of-use assets $ 17 Interest on lease liability 13 Total finance lease cost $ 30 Total lease cost $ 218 |
Supplemental Cash Flow Information Related to Leases | Three Months Ended March 31, 2019 Operating cash flows from operating leases $ 193 Operating cash flows from financing leases 13 Financing cash flows from financing leases 11 Right-of-use assets obtained in exchange for lease obligations: Operating leases 0 Finance leases 0 |
Supplemental Balance Sheet Information Related to Leases | March 31, 2019 Assets: Operating leases right-of-use assets $ 2,684 Finance leases assets 1,294 Total lease assets $ 3,978 Liabilities: Operating $ 2,864 Financing 1,469 Total lease liabilities $ 4,333 Weighted Average Remaining Lease Term (years) Operating leases 5.0 Finance leases 23.3 Weighted Average Discount Rate Operating leases 2.97% Finance leases 3.63% |
Future Minimum Payments for Financing Leases and Operating Leases | Year Ending December 31, Operating Leases Finance Leases 2019 $ 573 $ 71 2020 643 99 2021 572 100 2022 425 100 2023 382 100 Thereafter 512 1,767 Total lease payments 3,107 2,237 Less imputed interest (243) (768) Total $ 2,864 $ 1,469 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Regulatory Matters [Abstract] | |
Schedule Of Risk-Based Capital Ratios And Leverage Ratios | Minimum for Basel III Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at March 31, 2019 Capital ratios: Common equity Tier 1 $ 180,990 12.16 % $ 104,158 7.000 % n/a n/a Tier 1 risk based 190,990 12.84 126,477 8.500 n/a n/a Total risk based 209,608 14.09 156,236 10.500 n/a n/a Leverage 190,990 10.58 72,211 4.00 n/a n/a at December 31, 2018 Capital ratios: Common equity Tier 1 $ 178,656 12.15 % $ 93,708 6.375 % n/a n/a Tier 1 risk based 188,656 12.83 115,757 7.875 n/a n/a Total risk based 207,040 14.08 145,155 9.875 n/a n/a Leverage 188,656 10.46 72,119 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at March 31, 2019 Capital ratios: Common equity Tier 1 $ 187,177 12.61 % $ 103,913 7.000 % $ 96,491 6.50 % Tier 1 risk based 187,177 12.61 126,180 8.500 118,758 8.00 Total risk based 205,752 13.86 155,869 10.500 148,447 10.00 Leverage 187,177 10.39 72,071 4.00 90,089 5.00 at December 31, 2018 Capital ratios: Common equity Tier 1 $ 184,420 12.58 % $ 93,466 6.375 % $ 95,298 6.50 % Tier 1 risk based 184,420 12.58 115,457 7.875 117,290 8.00 Total risk based 202,757 13.83 144,780 9.875 146,613 10.00 Leverage 184,420 10.25 71,968 4.00 89,960 5.00 (1) Minimum Basel III capital adequacy requirements in order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers. Minimum amounts and ratios as of March 31, 2019 include the full phase in of the capital conservation buffer of 2 . 5 percent required by the Basel III framework. At December 31, 2018 , the minimum amount s and ratios included the third year phase in of the cap ital conservation buffer of 1.875 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 Liab_2
Fair Value Of Assets And Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 Securities available-for-sale: U.S. Treasury notes $ 19,284 $ 19,284 $ 0 $ 0 U.S. agency 15,379 0 15,379 0 U.S. agency mortgage-backed, residential 81,267 0 81,267 0 State and municipal 33,238 0 33,238 0 December 31, 2018 Securities available-for-sale: U.S. Treasury notes $ 19,003 $ 19,003 $ 0 $ 0 U.S. agency 15,063 0 15,063 0 U.S. agency mortgage-backed, residential 74,555 0 74,555 0 State and municipal 40,972 0 40,972 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 March 31, 2019 Impaired loans $ 15,402 $ 0 $ 0 $ 15,402 December 31, 2018 Impaired loans $ 13,297 $ 0 $ 0 $ 13,297 |
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 March 31, 2019 Impaired loans $ 7,944 Appraisal (1) Appraisal adjustments (2) 15% - 50% 42% Impaired loans 7,458 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 52% 48% December 31, 2018 Impaired loans $ 5,257 Appraisal (1) Appraisal adjustments (2) 15% - 50% 39% Impaired loans 8,040 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 53% 51% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as econcomic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. (3) Fair value is generally determined through customer-provided financial statements. (4) Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. |
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 March 31, 2019 Financial assets Cash and cash equivalents $ 94,285 $ 94,285 $ 94,285 $ 0 $ 0 Securities available-for-sale 149,168 149,168 19,284 129,884 0 Restricted investment in bank stocks 5,322 5,322 0 5,322 0 Loans held for sale 4,778 4,978 0 4,978 0 Loans, net 1,474,881 1,452,023 0 0 1,452,023 Interest receivable 5,182 5,182 0 5,182 0 Mortgage servicing rights 922 1,002 0 0 1,002 Financial liabilities Deposits $ 1,502,877 $ 1,490,098 $ 0 $ 1,490,098 $ 0 Short-term borrowings 6,830 6,830 0 6,830 0 Long-term debt (1) 115,310 117,245 0 109,336 7,909 Interest payable 978 978 0 978 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2018 Financial assets Cash and cash equivalents $ 96,782 $ 96,782 $ 96,782 $ 0 $ 0 Securities available-for-sale 149,593 149,593 19,003 130,590 0 Restricted investment in bank stocks 5,922 5,922 0 5,922 0 Loans held for sale 4,127 4,302 0 4,302 0 Loans, net 1,466,536 1,437,415 0 0 1,437,415 Interest receivable 5,552 5,552 0 5,552 0 Mortgage servicing rights 925 1,052 0 0 1,052 Financial liabilities Deposits $ 1,495,280 $ 1,479,997 $ 0 $ 1,479,997 $ 0 Short-term borrowings 7,022 7,022 0 7,022 0 Long-term debt 115,310 112,406 0 104,332 8,074 Interest payable 836 836 0 836 0 Off-balance sheet instruments 0 0 0 0 0 (1) Exclude leases included in Long-term debt |
Assets And Liabilities Subjec_2
Assets And Liabilities Subject To Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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 March 31, 2019 Repurchase Agreements $ 6,830 $ 0 $ 6,830 $ (7,988) $ 0 $ 0 $ (1,158) December 31, 2018 Repurchase Agreements $ 7,022 $ 0 $ 7,022 $ (8,981) $ 0 $ 0 $ (1,959) |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Summary of 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 | $ 1,755 | $ 1,755 |
Residential Mortgages [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Foreclosed real estate, net of allowance | 18 | 18 |
Residential Mortgages [Member] | Mortgage Servicing Rights [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Mortgage loans serviced for third parties | 104,621 | $ 98,852 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Loans in process of forclosure amount | $ 255 | |
Core Deposits Intangible Assets [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Intangible assets, amortization period | 10 years |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies (Summary Of Changes In Mortgage Service Rights) (Details) - Residential Mortgage [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Balance at beginning of year | $ 925 | $ 672 |
Originations of mortgage servicing rights | 50 | 68 |
Amortization expense | (36) | (25) |
Valuation allowance | (17) | 0 |
Balance at end of year | $ 922 | $ 715 |
Summary Of Significant Accoun_6
Summary Of Significant Accounting Policies (Schedule Of Computation Of Net Income Per Share) (Details) - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Weighted average shares outstanding (basic) | 9,455 | 9,359 |
Effect of dilutive stock options | 66 | 96 |
Weighted average shares outstanding (diluted) | 9,521 | 9,455 |
Basic earnings per common share | $ 0.43 | $ 0.44 |
Diluted earnings per common share | $ 0.43 | $ 0.43 |
Anti-dilutive stock options excluded from the computation of earnings per share | 30 | 16 |
Summary Of Significant Accoun_7
Summary Of Significant Accounting Policies (Schedule Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Cash paid during the period for: Income taxes | $ 300 | $ 0 |
Cash paid during the period for: Interest | 5,203 | 3,298 |
Noncash investing and financing activities: | ||
Initial recognition of financing lease right-of-use assets | 1,358 | 0 |
Initial recognition of financing lease liabilities | 1,480 | 0 |
Initial recognition of operating lease right-of-use assets | 2,958 | 0 |
Increase in other liabilities for purchase of securities settling after quarter end | $ 1,004 | $ 0 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Carrying Amount [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities pledged as collateral | $ 123,369 | $ 123,088 |
Geographic Concentration Risk [Member] | Pennsylvania [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value municipal bond portfolio concentration percentage | 85.00% | |
Municipal Bonds [Member] | Geographic Concentration Risk [Member] | Pennsylvania [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Portfolio intentionally distributed to limit exposure largest issuer amount | $ 2,300 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | $ 150,215 | $ 152,410 |
Total debt securities, Gross Unrealized Gains | 641 | 216 |
Total debt securities, Gross Unrealized Losses | (1,688) | (3,033) |
Total debt securities, Fair Value | 149,168 | 149,593 |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 19,788 | 19,780 |
Total debt securities, Gross Unrealized Gains | 39 | 29 |
Total debt securities, Gross Unrealized Losses | (543) | (806) |
Total debt securities, Fair Value | 19,284 | 19,003 |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 16,000 | 16,000 |
Total debt securities, Gross Unrealized Gains | 0 | 0 |
Total debt securities, Gross Unrealized Losses | (621) | (937) |
Total debt securities, Fair Value | 15,379 | 15,063 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 81,345 | 75,446 |
Total debt securities, Gross Unrealized Gains | 421 | 102 |
Total debt securities, Gross Unrealized Losses | (499) | (993) |
Total debt securities, Fair Value | 81,267 | 74,555 |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 33,082 | 41,184 |
Total debt securities, Gross Unrealized Gains | 181 | 85 |
Total debt securities, Gross Unrealized Losses | (25) | (297) |
Total debt securities, Fair Value | $ 33,238 | $ 40,972 |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities [Abstract] | ||
Due in one year or less, Available-for-sale, Amortized Cost | $ 3,439 | |
Due after one year through five years, Available-for-sale, Amortized Cost | 89,460 | |
Due after five years through ten years, Available-for-sale, Amortized Cost | 46,896 | |
Due after ten years, Available-for-sale, Amortized Cost | 10,420 | |
Total debt securities, Amortized Cost | 150,215 | $ 152,410 |
Due in one year or less, Available-for-sale, Fair Value | 3,443 | |
Due after one year through five years, Available-for-sale, Fair Value | 88,997 | |
Due after five years through ten years, Available-for-sale, Fair Value | 46,221 | |
Due after ten years, Available-for-sale, Fair Value | 10,507 | |
Total debt securities, Fair Value | $ 149,168 | $ 149,593 |
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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Securities [Abstract] | ||
Realized gains | $ 3 | $ 0 |
Realized losses | (7) | 0 |
Net losses | $ (4) | $ 0 |
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 | Mar. 31, 2019USD ($)security | Dec. 31, 2018USD ($)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 | 8 | 23 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 7,273 | $ 11,585 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (93) | $ (25) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 50 | 82 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 74,560 | $ 100,467 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (1,595) | $ (3,008) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 58 | 105 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 81,833 | $ 112,052 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (1,688) | $ (3,033) |
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 | 0 | 0 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 3 | 3 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 14,250 | $ 13,980 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (543) | $ (806) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 3 | 3 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 14,250 | $ 13,980 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (543) | $ (806) |
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 | 0 | 0 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ 0 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 4 | 4 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 15,379 | $ 15,063 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (621) | $ (937) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 4 | 4 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 15,379 | $ 15,063 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (621) | $ (937) |
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 | 6 | 8 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 6,237 | $ 4,878 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (91) | $ (14) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 29 | 39 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 37,665 | $ 51,137 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (408) | $ (979) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 35 | 47 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 43,902 | $ 56,015 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (499) | $ (993) |
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 | 2 | 15 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 1,036 | $ 6,707 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (2) | $ (11) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 14 | 36 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 7,266 | $ 20,287 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (23) | $ (286) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 16 | 51 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 8,302 | $ 26,994 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (25) | $ (297) |
Restricted Investment In Bank_2
Restricted Investment In Bank Stocks (Details) - FHLBP [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
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% | |
Impairment on restricted investment in bank stocks | $ 0 | $ 0 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2019USD ($)segmentloan | Mar. 31, 2018USD ($)loan | |
Loans [Abstract] | ||
Number of loan portfolio segments | segment | 2 | |
Impairment loss recognized | $ | $ 0 | $ 0 |
Number of defaults | loan | 0 | 0 |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,494,962 | $ 1,485,680 | $ 1,423,757 |
Total Commercial Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 1,288,828 | 1,279,810 | 1,221,841 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 165,131 | 154,977 | 163,839 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 209,134 | 210,501 | 230,981 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 233,306 | 231,118 | 222,940 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 84,521 | 77,480 | 75,074 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 112,046 | 117,280 | 102,673 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 78,639 | 80,075 | 67,466 |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 65,427 | 65,540 | 62,565 |
Total Commercial Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 340,624 | 342,839 | 296,303 |
Total Consumer Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 206,134 | 205,870 | 201,916 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 86,599 | 83,977 | 80,826 |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 97,363 | 98,019 | 97,646 |
Total Consumer Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 22,172 | $ 23,874 | $ 23,444 |
Loan and Loan Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 100.00% | 100.00% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 86.20% | 86.10% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 11.00% | 10.40% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 14.00% | 14.20% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 15.60% | 15.60% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 5.70% | 5.20% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 7.50% | 7.90% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 5.30% | 5.40% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 4.40% | 4.40% | |
Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 22.70% | 23.00% | |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 13.80% | 13.90% | |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 5.80% | 5.70% | |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 6.50% | 6.60% | |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 1.50% | 1.60% |
Loans (Summary Of Loan Risk Rat
Loans (Summary Of Loan Risk Ratings By Loan Class) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 1,494,962 | $ 1,485,680 | $ 1,423,757 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,419,357 | 1,407,697 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 23,276 | 32,998 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 26,954 | 23,997 | |
Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 25,375 | 20,988 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,288,828 | 1,279,810 | 1,221,841 |
Total Commercial Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,214,772 | 1,203,396 | |
Total Commercial Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 23,128 | 32,977 | |
Total Commercial Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 26,863 | 23,906 | |
Total Commercial Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 24,065 | 19,531 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 165,131 | 154,977 | 163,839 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 160,978 | 152,188 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,904 | 1,604 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 272 | 411 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 977 | 774 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 209,134 | 210,501 | 230,981 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 201,743 | 204,141 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,893 | 1,808 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,267 | 4,317 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 231 | 235 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 233,306 | 231,118 | 222,940 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 223,167 | 222,227 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 5,286 | 3,597 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 226 | 235 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,627 | 5,059 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 84,521 | 77,480 | 75,074 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 84,521 | 77,480 | |
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 | 0 | 0 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 112,046 | 117,280 | 102,673 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 91,974 | 94,726 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 8,449 | 9,973 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,447 | 4,952 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 7,176 | 7,629 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 78,639 | 80,075 | 67,466 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 74,180 | 72,058 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,636 | 4,991 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,229 | 1,302 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,594 | 1,724 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 65,427 | 65,540 | 62,565 |
Total Commercial Related Loans [Member] | Agriculture [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 61,665 | 61,636 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 757 | 3,244 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,350 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 655 | 660 | |
Total Commercial Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 340,624 | 342,839 | 296,303 |
Total Commercial Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 316,544 | 318,940 | |
Total Commercial Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,203 | 7,760 | |
Total Commercial Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 14,072 | 12,689 | |
Total Commercial Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 8,805 | 3,450 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 206,134 | 205,870 | 201,916 |
Total Consumer Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 204,585 | 204,301 | |
Total Consumer Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 148 | 21 | |
Total Consumer Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 91 | 91 | |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,310 | 1,457 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 86,599 | 83,977 | 80,826 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 85,949 | 83,305 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 137 | 7 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 82 | 82 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 431 | 583 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 97,363 | 98,019 | 97,646 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 96,755 | 97,395 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 11 | 13 | |
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 | 597 | 611 | |
Total Consumer Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 22,172 | 23,874 | $ 23,444 |
Total Consumer Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 21,881 | 23,601 | |
Total Consumer Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 1 | |
Total Consumer Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 9 | 9 | |
Total Consumer Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 282 | $ 263 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | $ 8,376 | $ 28,481 |
Impaired Loans, With No Allowance, Unpaid Principal | 8,548 | 28,776 |
Impaired Loans, With A Related Allowance, Recorded Investment | 19,907 | 16,752 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 20,288 | 16,752 |
Impaired Loans, With A Related Allowance, Related Allowance | 4,774 | 3,679 |
Impaired Loans, Total, Recorded Investment | 28,283 | 45,233 |
Impaired Loans, Total, Unpaid Principal | 28,836 | 45,528 |
Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 7,066 | 26,933 |
Impaired Loans, With No Allowance, Unpaid Principal | 7,213 | 27,204 |
Impaired Loans, With A Related Allowance, Recorded Investment | 19,907 | 16,752 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 20,288 | 16,752 |
Impaired Loans, With A Related Allowance, Related Allowance | 4,774 | 3,679 |
Impaired Loans, Total, Recorded Investment | 26,973 | 43,685 |
Impaired Loans, Total, Unpaid Principal | 27,501 | 43,956 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,201 | 1,047 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,345 | 1,318 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 138 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 138 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 51 |
Impaired Loans, Total, Recorded Investment | 1,201 | 1,185 |
Impaired Loans, Total, Unpaid Principal | 1,345 | 1,456 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 2,669 | 4,552 |
Impaired Loans, With No Allowance, Unpaid Principal | 2,669 | 4,552 |
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 | 2,669 | 4,552 |
Impaired Loans, Total, Unpaid Principal | 2,669 | 4,552 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 321 | 909 |
Impaired Loans, With No Allowance, Unpaid Principal | 324 | 909 |
Impaired Loans, With A Related Allowance, Recorded Investment | 4,306 | 4,385 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 4,345 | 4,385 |
Impaired Loans, With A Related Allowance, Related Allowance | 1,218 | 1,218 |
Impaired Loans, Total, Recorded Investment | 4,627 | 5,294 |
Impaired Loans, Total, Unpaid Principal | 4,669 | 5,294 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 0 |
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 | 0 | 0 |
Impaired Loans, Total, Unpaid Principal | 0 | 0 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 246 | 5,200 |
Impaired Loans, With No Allowance, Unpaid Principal | 246 | 5,200 |
Impaired Loans, With A Related Allowance, Recorded Investment | 7,176 | 7,629 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 7,455 | 7,629 |
Impaired Loans, With A Related Allowance, Related Allowance | 757 | 757 |
Impaired Loans, Total, Recorded Investment | 7,422 | 12,829 |
Impaired Loans, Total, Unpaid Principal | 7,701 | 12,829 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 17 | 1,320 |
Impaired Loans, With No Allowance, Unpaid Principal | 17 | 1,320 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,577 | 1,706 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,634 | 1,706 |
Impaired Loans, With A Related Allowance, Related Allowance | 539 | 539 |
Impaired Loans, Total, Recorded Investment | 1,594 | 3,026 |
Impaired Loans, Total, Unpaid Principal | 1,651 | 3,026 |
Total Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 655 | 660 |
Impaired Loans, With No Allowance, Unpaid Principal | 655 | 660 |
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 | 655 | 660 |
Impaired Loans, Total, Unpaid Principal | 655 | 660 |
Total Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,957 | 13,245 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,957 | 13,245 |
Impaired Loans, With A Related Allowance, Recorded Investment | 6,848 | 2,894 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 6,854 | 2,894 |
Impaired Loans, With A Related Allowance, Related Allowance | 2,260 | 1,114 |
Impaired Loans, Total, Recorded Investment | 8,805 | 16,139 |
Impaired Loans, Total, Unpaid Principal | 8,811 | 16,139 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,310 | 1,548 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,335 | 1,572 |
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 | 1,310 | 1,548 |
Impaired Loans, Total, Unpaid Principal | 1,335 | 1,572 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 431 | 665 |
Impaired Loans, With No Allowance, Unpaid Principal | 455 | 689 |
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 | 431 | 665 |
Impaired Loans, Total, Unpaid Principal | 455 | 689 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 597 | 611 |
Impaired Loans, With No Allowance, Unpaid Principal | 597 | 611 |
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 | 597 | 611 |
Impaired Loans, Total, Unpaid Principal | 597 | 611 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 282 | 272 |
Impaired Loans, With No Allowance, Unpaid Principal | 283 | 272 |
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 | 282 | 272 |
Impaired Loans, Total, Unpaid Principal | $ 283 | $ 272 |
Loans (Summary Of Average Impai
Loans (Summary Of Average Impaired Loans And Related Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | $ 18,429 | $ 21,600 |
Impaired Loans, With No Related Allowance, Total Interest Income | 90 | 292 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 18,329 | 530 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 36,758 | 22,130 |
Impaired Loans, Total, Total Interest Income | 90 | 292 |
Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 17,000 | 20,650 |
Impaired Loans, With No Related Allowance, Total Interest Income | 74 | 285 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 18,329 | 530 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 35,329 | 21,180 |
Impaired Loans, Total, Total Interest Income | 74 | 285 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,429 | 950 |
Impaired Loans, With No Related Allowance, Total Interest Income | 16 | 7 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,429 | 950 |
Impaired Loans, Total, Total Interest Income | 16 | 7 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,124 | 2,486 |
Impaired Loans, With No Related Allowance, Total Interest Income | 14 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 69 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,193 | 2,486 |
Impaired Loans, Total, Total Interest Income | 14 | 6 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 3,610 | 4,552 |
Impaired Loans, With No Related Allowance, Total Interest Income | 34 | 60 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 530 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 3,610 | 5,082 |
Impaired Loans, Total, Total Interest Income | 34 | 60 |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 615 | 1,366 |
Impaired Loans, With No Related Allowance, Total Interest Income | 5 | 12 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 4,346 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 4,961 | 1,366 |
Impaired Loans, Total, Total Interest Income | 5 | 12 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 0 | 0 |
Impaired Loans, Total, Total Interest Income | 0 | 0 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 2,723 | 7,092 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 100 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 7,402 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 10,125 | 7,092 |
Impaired Loans, Total, Total Interest Income | 3 | 100 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 669 | 3,752 |
Impaired Loans, With No Related Allowance, Total Interest Income | 5 | 91 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,642 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 2,311 | 3,752 |
Impaired Loans, Total, Total Interest Income | 5 | 91 |
Agriculture [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 658 | 378 |
Impaired Loans, With No Related Allowance, Total Interest Income | 13 | 1 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 658 | 378 |
Impaired Loans, Total, Total Interest Income | 13 | 1 |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 548 | 261 |
Impaired Loans, With No Related Allowance, Total Interest Income | 6 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 548 | 261 |
Impaired Loans, Total, Total Interest Income | 6 | 0 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 604 | 454 |
Impaired Loans, With No Related Allowance, Total Interest Income | 6 | 2 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 604 | 454 |
Impaired Loans, Total, Total Interest Income | 6 | 2 |
Other [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 7,601 | 1,024 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 15 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 4,870 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 12,471 | 1,024 |
Impaired Loans, Total, Total Interest Income | 0 | 15 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 277 | 235 |
Impaired Loans, With No Related Allowance, Total Interest Income | 4 | 5 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 277 | 235 |
Impaired Loans, Total, Total Interest Income | $ 4 | $ 5 |
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 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | $ 25,375 | $ 20,988 | |
Total Past Due and Nonaccrual | 33,162 | 30,330 | |
Current | 1,461,800 | 1,455,350 | |
Total Loans | 1,494,962 | 1,485,680 | $ 1,423,757 |
30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 3,352 | 5,749 | |
60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,436 | 1,465 | |
Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,999 | 2,128 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 24,065 | 19,531 | |
Total Past Due and Nonaccrual | 30,379 | 28,138 | |
Current | 1,258,449 | 1,251,672 | |
Total Loans | 1,288,828 | 1,279,810 | 1,221,841 |
Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,022 | 5,280 | |
Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,367 | 1,359 | |
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 | 1,925 | 1,968 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 1,310 | 1,457 | |
Total Past Due and Nonaccrual | 2,783 | 2,192 | |
Current | 203,351 | 203,678 | |
Total Loans | 206,134 | 205,870 | 201,916 |
Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,330 | 469 | |
Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 69 | 106 | |
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 | 74 | 160 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 977 | 774 | |
Total Past Due and Nonaccrual | 1,787 | 1,523 | |
Current | 163,344 | 153,454 | |
Total Loans | 165,131 | 154,977 | 163,839 |
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 | 159 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 810 | 547 | |
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 | 43 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 231 | 235 | |
Total Past Due and Nonaccrual | 2,059 | 2,063 | |
Current | 207,075 | 208,438 | |
Total Loans | 209,134 | 210,501 | 230,981 |
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 | 0 | 0 | |
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 | 0 | |
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 | 1,828 | 1,828 | |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 4,627 | 5,059 | |
Total Past Due and Nonaccrual | 6,476 | 6,115 | |
Current | 226,830 | 225,003 | |
Total Loans | 233,306 | 231,118 | 222,940 |
Residential 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 | 958 | 244 | |
Residential 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 | 891 | 812 | |
Residential 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 | |
Hotel/Motel [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 | 84,521 | 77,480 | |
Total Loans | 84,521 | 77,480 | 75,074 |
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 | 7,176 | 7,629 | |
Total Past Due and Nonaccrual | 7,273 | 7,726 | |
Current | 104,773 | 109,554 | |
Total Loans | 112,046 | 117,280 | 102,673 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 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 | 0 | |
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 | 97 | 97 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 1,594 | 1,724 | |
Total Past Due and Nonaccrual | 2,260 | 1,724 | |
Current | 76,379 | 78,351 | |
Total Loans | 78,639 | 80,075 | 67,466 |
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 | 666 | 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 | 655 | 660 | |
Total Past Due and Nonaccrual | 667 | 660 | |
Current | 64,760 | 64,880 | |
Total Loans | 65,427 | 65,540 | 62,565 |
Agriculture [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 12 | 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 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 431 | 583 | |
Total Past Due and Nonaccrual | 1,115 | 659 | |
Current | 85,484 | 83,318 | |
Total Loans | 86,599 | 83,977 | 80,826 |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 577 | 0 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 42 | 10 | |
Residential Mortgages [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 | 65 | 66 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 597 | 611 | |
Total Past Due and Nonaccrual | 915 | 911 | |
Current | 96,448 | 97,108 | |
Total Loans | 97,363 | 98,019 | 97,646 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 318 | 206 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 94 | |
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 | 8,805 | 3,450 | |
Total Past Due and Nonaccrual | 9,857 | 8,327 | |
Current | 330,767 | 334,512 | |
Total Loans | 340,624 | 342,839 | 296,303 |
Other [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,052 | 4,877 | |
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 | 0 | |
Other [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 282 | 263 | |
Total Past Due and Nonaccrual | 753 | 622 | |
Current | 21,419 | 23,252 | |
Total Loans | 22,172 | 23,874 | $ 23,444 |
Other [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 435 | 263 | |
Other [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 27 | 2 | |
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 | $ 9 | $ 94 |
Loans (Summary Of Loans Modifie
Loans (Summary Of Loans Modified Under TDRs) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($)contract | |
Loans [Abstract] | |
Number of Contracts | contract | 1 |
Pre-Modification Outstanding Recorded Investments | $ 63 |
Post-Modification Outstanding Recorded Investments | 63 |
Recorded Investment at Period End | $ 61 |
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 | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $ 19,144 | $ 16,689 |
Charge-offs | (126) | (48) |
Recoveries | 13 | 25 |
Provision | 1,050 | 200 |
Ending Balance | 20,081 | 16,866 |
Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 17,890 | 14,118 |
Charge-offs | (46) | 0 |
Recoveries | 3 | 22 |
Provision | 1,411 | (446) |
Ending Balance | 19,258 | 13,694 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 535 | 391 |
Charge-offs | (80) | (48) |
Recoveries | 10 | 3 |
Provision | 61 | 124 |
Ending Balance | 526 | 470 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 719 | 2,180 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (422) | 522 |
Ending Balance | 297 | 2,702 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,835 | 3,388 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 18 |
Provision | 132 | (429) |
Ending Balance | 2,967 | 2,977 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,636 | 3,013 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 16 | (225) |
Ending Balance | 2,652 | 2,788 |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 3,945 | 2,505 |
Charge-offs | 0 | 0 |
Recoveries | 3 | 3 |
Provision | 62 | 31 |
Ending Balance | 4,010 | 2,539 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 732 | 637 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 67 | 122 |
Ending Balance | 799 | 759 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,813 | 909 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 1 |
Provision | (12) | 15 |
Ending Balance | 1,801 | 925 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,287 | 592 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (21) | (50) |
Ending Balance | 1,266 | 542 |
Agriculture [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 579 | 431 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (1) | 18 |
Ending Balance | 578 | 449 |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 126 | 108 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 6 | 6 |
Ending Balance | 132 | 114 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 265 | 217 |
Charge-offs | (20) | 0 |
Recoveries | 1 | 0 |
Provision | (51) | (13) |
Ending Balance | 195 | 204 |
Other [Member] | Total Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 4,063 | 2,643 |
Charge-offs | (46) | 0 |
Recoveries | 0 | 0 |
Provision | 1,168 | 72 |
Ending Balance | 5,185 | 2,715 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 144 | 66 |
Charge-offs | (60) | (48) |
Recoveries | 9 | 3 |
Provision | 106 | 131 |
Ending Balance | $ 199 | $ 152 |
Allowance For Loan Losses (Su_2
Allowance For Loan Losses (Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | $ 4,774 | $ 3,679 | $ 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 15,307 | 15,465 | 16,866 | |
Allowance for Loan Losses, Balance | 20,081 | 19,144 | 16,866 | $ 16,689 |
Loans, Individually Evaluated For Impairment | 28,283 | 45,233 | 20,813 | |
Loans, Collectively Evaluated For Impairment | 1,466,679 | 1,440,447 | 1,402,944 | |
Loans, Balance | 1,494,962 | 1,485,680 | 1,423,757 | |
Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 4,774 | 3,679 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 14,484 | 14,211 | 13,694 | |
Allowance for Loan Losses, Balance | 19,258 | 17,890 | 13,694 | 14,118 |
Loans, Individually Evaluated For Impairment | 26,973 | 43,685 | 19,848 | |
Loans, Collectively Evaluated For Impairment | 1,261,855 | 1,236,125 | 1,201,993 | |
Loans, Balance | 1,288,828 | 1,279,810 | 1,221,841 | |
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 | 526 | 535 | 470 | |
Allowance for Loan Losses, Balance | 526 | 535 | 470 | 391 |
Loans, Individually Evaluated For Impairment | 1,310 | 1,548 | 965 | |
Loans, Collectively Evaluated For Impairment | 204,824 | 204,322 | 200,951 | |
Loans, Balance | 206,134 | 205,870 | 201,916 | |
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 | 297 | 719 | 2,702 | |
Allowance for Loan Losses, Balance | 297 | 719 | 2,702 | 2,180 |
Loans, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Loans, Collectively Evaluated For Impairment | 0 | 0 | 0 | |
Loans, Balance | 0 | 0 | 0 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 51 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,967 | 2,784 | 2,977 | |
Allowance for Loan Losses, Balance | 2,967 | 2,835 | 2,977 | 3,388 |
Loans, Individually Evaluated For Impairment | 1,201 | 1,185 | 2,298 | |
Loans, Collectively Evaluated For Impairment | 163,930 | 153,792 | 161,541 | |
Loans, Balance | 165,131 | 154,977 | 163,839 | |
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 | 2,652 | 2,636 | 2,788 | |
Allowance for Loan Losses, Balance | 2,652 | 2,636 | 2,788 | 3,013 |
Loans, Individually Evaluated For Impairment | 2,669 | 4,552 | 4,520 | |
Loans, Collectively Evaluated For Impairment | 206,465 | 205,949 | 226,461 | |
Loans, Balance | 209,134 | 210,501 | 230,981 | |
Residential 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 | 1,218 | 1,218 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,792 | 2,727 | 2,539 | |
Allowance for Loan Losses, Balance | 4,010 | 3,945 | 2,539 | 2,505 |
Loans, Individually Evaluated For Impairment | 4,627 | 5,294 | 1,524 | |
Loans, Collectively Evaluated For Impairment | 228,679 | 225,824 | 221,416 | |
Loans, Balance | 233,306 | 231,118 | 222,940 | |
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 | 799 | 732 | 759 | |
Allowance for Loan Losses, Balance | 799 | 732 | 759 | 637 |
Loans, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Loans, Collectively Evaluated For Impairment | 84,521 | 77,480 | 75,074 | |
Loans, Balance | 84,521 | 77,480 | 75,074 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 757 | 757 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,044 | 1,056 | 925 | |
Allowance for Loan Losses, Balance | 1,801 | 1,813 | 925 | 909 |
Loans, Individually Evaluated For Impairment | 7,422 | 12,829 | 6,273 | |
Loans, Collectively Evaluated For Impairment | 104,624 | 104,451 | 96,400 | |
Loans, Balance | 112,046 | 117,280 | 102,673 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 539 | 539 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 727 | 748 | 542 | |
Allowance for Loan Losses, Balance | 1,266 | 1,287 | 542 | 592 |
Loans, Individually Evaluated For Impairment | 1,594 | 3,026 | 3,664 | |
Loans, Collectively Evaluated For Impairment | 77,045 | 77,049 | 63,802 | |
Loans, Balance | 78,639 | 80,075 | 67,466 | |
Agriculture [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 | 578 | 579 | 449 | |
Allowance for Loan Losses, Balance | 578 | 579 | 449 | 431 |
Loans, Individually Evaluated For Impairment | 655 | 660 | 440 | |
Loans, Collectively Evaluated For Impairment | 64,772 | 64,880 | 62,125 | |
Loans, Balance | 65,427 | 65,540 | 62,565 | |
Residential Mortgages [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 | 132 | 126 | 114 | |
Allowance for Loan Losses, Balance | 132 | 126 | 114 | 108 |
Loans, Individually Evaluated For Impairment | 431 | 665 | 275 | |
Loans, Collectively Evaluated For Impairment | 86,168 | 83,312 | 80,551 | |
Loans, Balance | 86,599 | 83,977 | 80,826 | |
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 | 195 | 265 | 204 | |
Allowance for Loan Losses, Balance | 195 | 265 | 204 | 217 |
Loans, Individually Evaluated For Impairment | 597 | 611 | 457 | |
Loans, Collectively Evaluated For Impairment | 96,766 | 97,408 | 97,189 | |
Loans, Balance | 97,363 | 98,019 | 97,646 | |
Other [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 2,260 | 1,114 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,925 | 2,949 | 2,715 | |
Allowance for Loan Losses, Balance | 5,185 | 4,063 | 2,715 | 2,643 |
Loans, Individually Evaluated For Impairment | 8,805 | 16,139 | 1,129 | |
Loans, Collectively Evaluated For Impairment | 331,819 | 326,700 | 295,174 | |
Loans, Balance | 340,624 | 342,839 | 296,303 | |
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 | 199 | 144 | 152 | |
Allowance for Loan Losses, Balance | 199 | 144 | 152 | $ 66 |
Loans, Individually Evaluated For Impairment | 282 | 272 | 233 | |
Loans, Collectively Evaluated For Impairment | 21,890 | 23,602 | 23,211 | |
Loans, Balance | $ 22,172 | $ 23,874 | $ 23,444 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Deposits | ||
Aggregate amount of demand deposit overdrafts reclassified as loans | $ 101 | $ 116 |
Deposits (Schedule Of Compositi
Deposits (Schedule Of Composition Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Deposits | ||
Noninterest bearing demand | $ 253,114 | $ 252,777 |
Interest bearing demand | 159,608 | 156,858 |
Money market | 507,376 | 535,454 |
Savings | 89,737 | 85,415 |
Time deposits less than $100 | 281,070 | 271,794 |
Time deposits $100 to $250 | 156,193 | 144,866 |
Time deposits $250 or more | 55,779 | 48,116 |
Total deposits | $ 1,502,877 | $ 1,495,280 |
Short-Term Borrowings And Lon_3
Short-Term Borrowings And Long-Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | |||
Jun. 30, 2006 | Nov. 30, 2004 | Mar. 31, 2019 | Dec. 31, 2018 | |
Securities sold under agreements to repurchase | $ 6,830,000 | $ 7,022,000 | ||
Other short-term borrowings | 0 | 0 | ||
CVB Statutory Trust No. 2 [Member] | ||||
Pooled trust preferred debt issuance | $ 7,217,000 | |||
CVB Statutory Trust No. 1 [Member] | ||||
Pooled trust preferred debt issuance | $ 3,093,000 | |||
FHLBP [Member] | Federal Home Loan Bank [Member] | Municipal Deposit Letter Of Credits [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||||
Total availability of other borrowings | $ 42,000,000 | $ 42,000,000 |
Short-Term Borrowings And Lon_4
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Finance lease liabilities | $ 1,469 | $ 0 |
Total long-term debt | 116,779 | 115,310 |
Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 10,310 | 10,310 |
FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 105,000 | 105,000 |
Due April 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 | $ 10,000 | $ 10,000 |
FHLBP due date | 2019-04 | |
Interest rate | 1.64% | 1.64% |
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% | 1.64% |
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% | 2.10% |
Due December 2019, 1.89% [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 | 2019-12 | |
Interest rate | 1.89% | 1.89% |
Due March 2020, 1.86% [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 | 2020-03 | |
Interest rate | 1.86% | 1.86% |
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% | 1.87% |
Due June 2020, 2.70% [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 | 2020-06 | |
Interest rate | 2.70% | 2.70% |
Due June 2021, 2.81% [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 | 2021-06 | |
Interest rate | 2.81% | 2.81% |
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% | 2.14% |
Due May 2022, 2.98% [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 | 2022-05 | |
Interest rate | 2.98% | 2.98% |
Due 2034, 4.63%, 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 | 4.63% | |
Long-term debt year due | 2034 | |
Due 2034, 4.63%, 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, 4.33% 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 | 4.33% | |
Long-term debt year due | 2036 | |
Due 2036, 4.33% 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% |
Leases (Narrative) (Details)
Leases (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2019propertycontract | |
Leases remaining lease terms | 5 years |
Number of finance leases | contract | 2 |
Number of financial centers under finance leases | property | 2 |
Operating Lease [Member] | |
Leases remaining lease terms | 25 years |
Operating Lease [Member] | Minimum [Member] | |
Leases remaining lease terms | 1 year |
Leases (Components of Lease Exp
Leases (Components of Lease Expense) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Lease, Cost [Abstract] | |
Operating lease cost | $ 188 |
Finance lease cost: | |
Amortization of right-of-use assets | 17 |
Interest on lease liability | 13 |
Total finance lease cost | 30 |
Total lease cost | $ 218 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 193 |
Operating cash flows from financing leases | 13 |
Financing cash flows from financing leases | 11 |
Right-of-use assets obtained in exchange for lease obligations: | |
Operating leases | 0 |
Finance leases | $ 0 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets: | ||
Operating leases right-of-use assets | $ 2,684 | $ 0 |
Finance leases assets | 1,294 | |
Total lease asset | 3,978 | |
Liabilities: | ||
Operating | 2,864 | 0 |
Financing | 1,469 | $ 0 |
Total lease liabilities | $ 4,333 | |
Weighted Average Remaining Lease Term (years) | ||
Operating leases | 5 years | |
Finance leases | 23 years 3 months 18 days | |
Weighted Average Discount Rate | ||
Operating leases | 2.97% | |
Finance leases | 3.63% |
Leases (Future Minimum Payments
Leases (Future Minimum Payments for Financing Leases and Operating Leases) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Operating Leases | ||
2019 | $ 573 | |
2020 | 643 | |
2021 | 572 | |
2022 | 425 | |
2023 | 382 | |
Therefore | 512 | |
Total lease payments | 3,107 | |
Less imputed interest | (243) | |
Total | 2,864 | $ 0 |
Finance Leases | ||
2019 | 71 | |
2020 | 99 | |
2021 | 100 | |
2022 | 100 | |
2023 | 100 | |
Thereafter | 1,767 | |
Total lease payments | 2,237 | |
Less imputed interest | (768) | |
Total | $ 1,469 | $ 0 |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Risk-Based Capital Ratios And Leverage Ratios) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Common equity Tier 1, Actual, Amount | $ 180,990 | $ 178,656 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | $ 104,158 | $ 93,708 |
Common equity Tier 1, Actual, Ratio | 12.16% | 12.15% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 7.00% | 6.375% |
Tier 1 risk based, Actual, Amount | $ 190,990 | $ 188,656 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | $ 126,477 | $ 115,757 |
Tier 1 risk based, Actual, Ratio | 12.84% | 12.83% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 8.50% | 7.875% |
Total risk based, Actual, Amount | $ 209,608 | $ 207,040 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | $ 156,236 | $ 145,155 |
Total risk based, Actual, Ratio | 14.09% | 14.08% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 10.50% | 9.875% |
Leverage, Actual, Amount | $ 190,990 | $ 188,656 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | $ 72,211 | $ 72,119 |
Leverage, Actual, Ratio | 10.58% | 10.46% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
PeoplesBank, A Codorus Valley Company [Member] | |||
Common equity Tier 1, Actual, Amount | $ 187,177 | $ 184,420 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | 103,913 | 93,466 |
Common equity Tier 1, Well Capitalized Minimum, Amount | [2] | $ 96,491 | $ 95,298 |
Common equity Tier 1, Actual, Ratio | 12.61% | 12.58% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 7.00% | 6.375% |
Common equity Tier 1, Well Capitalized Minimum, Ratio | [2] | 6.50% | 6.50% |
Tier 1 risk based, Actual, Amount | $ 187,177 | $ 184,420 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | 126,180 | 115,457 |
Tier 1 risk based, Well Capitalized Minimum, Amount | [2] | $ 118,758 | $ 117,290 |
Tier 1 risk based, Actual, Ratio | 12.61% | 12.58% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 8.50% | 7.875% |
Tier 1 risk based, Well Capitalized Minimum, Ratio | [2] | 8.00% | 8.00% |
Total risk based, Actual, Amount | $ 205,752 | $ 202,757 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | 155,869 | 144,780 |
Total risk based, Well Capitalized Minimum, Amount | [2] | $ 148,447 | $ 146,613 |
Total risk based, Actual, Ratio | 13.86% | 13.83% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 10.50% | 9.875% |
Total risk based, Well Capitalized Minimum, Ratio | [2] | 10.00% | 10.00% |
Leverage, Actual, Amount | $ 187,177 | $ 184,420 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | 72,071 | 71,968 |
Leverage, Well Capitalized Minimum, Amount | [2] | $ 90,089 | $ 89,960 |
Leverage, Actual, Ratio | 10.39% | 10.25% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
Leverage, Well Capitalized Minimum, Ratio | [2] | 5.00% | 5.00% |
[1] | Minimum Basel III capital adequacy requirements in order to avoid limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers. Minimum amounts and ratios as of March 31, 2019 include the full phase in of the capital conservation buffer of 2.5 percent required by the Basel III framework. At December 31, 2018, the minimum amounts and ratios included the third year phase in of the capital conservation buffer of 1.875 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) - shares | Dec. 11, 2018 | Dec. 12, 2017 |
Shareholders' Equity [Abstract] | ||
Stock dividend rate | 5.00% | 5.00% |
Stock dividend additional common stock shares issued | 447,092 | 422,439 |
Contingent Liabilities (Narrati
Contingent Liabilities (Narrative) (Details) | Mar. 31, 2019claim |
Pending [Member] | |
Loss Contingencies [Line Items] | |
Number of legal proceedings pending | 0 |
Guarantees (Details)
Guarantees (Details) - Standby Letters Of Credit [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Loss Contingencies [Line Items] | ||
Standby letters of credit outstanding | $ 22,773 | $ 23,737 |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Standby letters of credit expiration period | 1 year |
Fair Value Of Assets And Liab_3
Fair Value Of Assets And Liabilities (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Impaired loans, valuation allowances | $ 4,774,000 | $ 3,679,000 |
Other Real Estate Property [Member] | ||
Fair value of foreclosed real estate | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Impaired loans | 15,402,000 | 13,297,000 |
Impaired loans, valuation allowances | 4,774,000 | 3,679,000 |
Impaired loans charge-offs | $ 134,000 | $ 134,000 |
Fair Value Of Assets And Liab_4
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 149,168 | $ 149,593 |
Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 19,284 | 19,003 |
Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 15,379 | 15,063 |
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 | 81,267 | 74,555 |
Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 33,238 | 40,972 |
(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 | 19,284 | 19,003 |
(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 | 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 | 15,379 | 15,063 |
(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 | 81,267 | 74,555 |
(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 | 33,238 | 40,972 |
(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 | 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 Liab_5
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 15,402 | $ 13,297 |
(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 |
(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 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 15,402 | 13,297 |
(Level 3) Significant Other Unobservable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 15,402 | $ 13,297 |
Fair Value Of Assets And Liab_6
Fair Value Of Assets And Liabilities (Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis) (Details) - Impaired Loans [Member] - Nonrecurring [Member] - (Level 3) Significant Other Unobservable Inputs [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | ||
Appraisal [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | [1],[2] | $ 7,944 | $ 5,257 |
Unobservable Input | Appraisal adjustments | ||
Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | [3],[4] | $ 7,458 | $ 8,040 |
Unobservable Input | Business asset valuation adjustments | ||
Minimum [Member] | Appraisal [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | 15.00% | 15.00% |
Minimum [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | 10.00% | 10.00% |
Maximum [Member] | Appraisal [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | 50.00% | 50.00% |
Maximum [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | 52.00% | 53.00% |
Weighted Average [Member] | Appraisal [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | 42.00% | 39.00% |
Weighted Average [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | 48.00% | 51.00% |
[1] | Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. | ||
[2] | Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. | ||
[3] | Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. | ||
[4] | Fair value is generally determined through customer-provided financial statements. |
Fair Value Of Assets And Liab_7
Fair Value Of Assets And Liabilities (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Securities available-for-sale | $ 149,168 | $ 149,593 | |
Carrying Amount [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 94,285 | 96,782 | |
Securities available-for-sale | 149,168 | 149,593 | |
Restricted investment in bank stocks | 5,322 | 5,922 | |
Loans held for sale | 4,778 | 4,127 | |
Loans, net | 1,474,881 | 1,466,536 | |
Interest receivable | 5,182 | 5,552 | |
Mortgage servicing rights | 922 | 925 | |
Deposits | 1,502,877 | 1,495,280 | |
Short-term borrowings | 6,830 | 7,022 | |
Long-term debt | 115,310 | [1] | 115,310 |
Interest payable | 978 | 836 | |
Off-balance sheet instruments | 0 | 0 | |
Estimated Fair Value [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 94,285 | 96,782 | |
Securities available-for-sale | 149,168 | 149,593 | |
Restricted investment in bank stocks | 5,322 | 5,922 | |
Loans held for sale | 4,978 | 4,302 | |
Loans, net | 1,452,023 | 1,437,415 | |
Interest receivable | 5,182 | 5,552 | |
Mortgage servicing rights | 1,002 | 1,052 | |
Deposits | 1,490,098 | 1,479,997 | |
Short-term borrowings | 6,830 | 7,022 | |
Long-term debt | 117,245 | [1] | 112,406 |
Interest payable | 978 | 836 | |
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 | 94,285 | 96,782 | |
Securities available-for-sale | 19,284 | 19,003 | |
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 | 0 | |
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | [1] | 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 | 129,884 | 130,590 | |
Restricted investment in bank stocks | 5,322 | 5,922 | |
Loans held for sale | 4,978 | 4,302 | |
Loans, net | 0 | 0 | |
Interest receivable | 5,182 | 5,552 | |
Mortgage servicing rights | 0 | 0 | |
Deposits | 1,490,098 | 1,479,997 | |
Short-term borrowings | 6,830 | 7,022 | |
Long-term debt | 109,336 | [1] | 104,332 |
Interest payable | 978 | 836 | |
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 | 1,452,023 | 1,437,415 | |
Interest receivable | 0 | 0 | |
Mortgage servicing rights | 1,002 | 1,052 | |
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 7,909 | [1] | 8,074 |
Interest payable | 0 | 0 | |
Off-balance sheet instruments | $ 0 | $ 0 | |
[1] | Exclude leases included in Long-term debt |
Assets And Liabilities Subjec_3
Assets And Liabilities Subject To Offsetting (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross Amounts of Recognized Liabilities | $ 6,830 | $ 7,022 |
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition | 0 | 0 |
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition | 6,830 | 7,022 |
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | 0 | 0 |
Repurchase Agreements, Net Amount | (1,158) | (1,959) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | (7,988) | (8,981) |
U.S. Agency [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | $ 0 | $ 0 |