Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 20, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | CITIZENS & NORTHERN CORP | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 12,263,027 | ||
Entity Public Float | $236,364,605 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 810958 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and due from banks: | ||
Noninterest-bearing | $14,812,000 | $15,917,000 |
Interest-bearing | 21,235,000 | 28,702,000 |
Total cash and due from banks | 36,047,000 | 44,619,000 |
Available-for-sale securities, at fair value | 516,807,000 | 482,658,000 |
Loans held for sale | 0 | 54,000 |
Loans receivable | 630,545,000 | 644,303,000 |
Allowance for loan losses | -7,336,000 | -8,663,000 |
Loans, net | 623,209,000 | 635,640,000 |
Bank-owned life insurance | 22,119,000 | 21,743,000 |
Accrued interest receivable | 3,908,000 | 4,146,000 |
Bank premises and equipment, net | 16,256,000 | 17,430,000 |
Foreclosed assets held for sale | 1,189,000 | 892,000 |
Deferred tax asset, net | 1,668,000 | 6,344,000 |
Intangible asset - Core deposit intangibles | 52,000 | 87,000 |
Intangible asset – Goodwill | 11,942,000 | 11,942,000 |
Other assets | 8,766,000 | 12,140,000 |
TOTAL ASSETS | 1,241,963,000 | 1,237,695,000 |
Deposits: | ||
Noninterest-bearing | 212,439,000 | 191,245,000 |
Interest-bearing | 755,550,000 | 763,271,000 |
Total deposits | 967,989,000 | 954,516,000 |
Short-term borrowings | 5,537,000 | 23,385,000 |
Long-term borrowings | 73,060,000 | 73,338,000 |
Accrued interest and other liabilities | 7,015,000 | 6,984,000 |
TOTAL LIABILITIES | 1,053,601,000 | 1,058,223,000 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $1,000 par value; authorized 30,000 shares; $1,000 liquidation preference per share; no shares issued at December 31, 2014 and December 31, 2013 | 0 | 0 |
Common stock, par value $1.00 per share; authorized 20,000,000 shares in 2014 and 2013; issued 12,655,171 at December 31, 2014 and 12,596,540 at December 31, 2013 | 12,655,000 | 12,596,000 |
Paid-in capital | 71,541,000 | 70,105,000 |
Retained earnings | 105,550,000 | 101,216,000 |
Treasury stock, at cost; 375,191 shares at December 31, 2014 and 206,477 shares at December 31, 2013 | -6,744,000 | -3,452,000 |
Sub-total | 183,002,000 | 180,465,000 |
Accumulated other comprehensive income (loss): | ||
Unrealized gain (loss) on available-for-sale securities | 5,281,000 | -1,004,000 |
Defined benefit plans gain | 79,000 | 11,000 |
Total accumulated other comprehensive income (loss) | 5,360,000 | -993,000 |
TOTAL STOCKHOLDERS' EQUITY | 188,362,000 | 179,472,000 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $1,241,963,000 | $1,237,695,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred stock, par value (in Dollars per share) | $1,000 | $1,000 |
Preferred stock, authorized shares | 30,000 | 30,000 |
Preferred stock, liquidation preference per share (in Dollars per share) | $1,000 | $1,000 |
Preferred stock, shares issued (in Dollars) | $0 | $0 |
Common stock, par value (in Dollars per share) | $1 | $1 |
Common stock, authorized shares | 20,000,000 | 20,000,000 |
Common stock, issued shares | 12,655,171 | 12,596,540 |
Treasury stock, shares | 375,191 | 206,477 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
INTEREST INCOME | |||
Interest and fees on loans | $32,127,000 | $35,484,000 | $40,453,000 |
Interest on balances with depository institutions | 125,000 | 105,000 | 114,000 |
Interest on loans to political subdivisions | 1,403,000 | 1,381,000 | 1,539,000 |
Interest on mortgages held for sale | 16,000 | 54,000 | 107,000 |
Income from available-for-sale securities: | |||
Taxable | 7,721,000 | 6,810,000 | 9,029,000 |
Tax-exempt | 4,310,000 | 4,785,000 | 5,085,000 |
Dividends | 307,000 | 295,000 | 305,000 |
Total interest and dividend income | 46,009,000 | 48,914,000 | 56,632,000 |
INTEREST EXPENSE | |||
Interest on deposits | 2,163,000 | 2,703,000 | 4,807,000 |
Interest on short-term borrowings | 9,000 | 9,000 | 10,000 |
Interest on long-term borrowings | 2,950,000 | 3,053,000 | 4,214,000 |
Total interest expense | 5,122,000 | 5,765,000 | 9,031,000 |
Net interest income | 40,887,000 | 43,149,000 | 47,601,000 |
Provision for loan losses | 476,000 | 2,047,000 | 288,000 |
Net interest income after provision for loan losses | 40,411,000 | 41,102,000 | 47,313,000 |
OTHER INCOME | |||
Service charges on deposit accounts | 5,025,000 | 5,246,000 | 5,322,000 |
Service charges and fees | 538,000 | 597,000 | 643,000 |
Trust and financial management revenue | 4,490,000 | 4,087,000 | 3,847,000 |
Brokerage revenue | 901,000 | 784,000 | 801,000 |
Insurance commissions, fees and premiums | 118,000 | 170,000 | 221,000 |
Interchange revenue from debit card transactions | 1,959,000 | 1,941,000 | 1,938,000 |
Net gains from sale of loans | 768,000 | 1,969,000 | 2,016,000 |
(Decrease) increase in fair value of servicing rights | -27,000 | 67,000 | -188,000 |
Increase in cash surrender value of life insurance | 376,000 | 399,000 | 455,000 |
Net gain (loss) from premises and equipment | 8,000 | -16,000 | 270,000 |
Other operating income | 1,264,000 | 1,207,000 | 1,058,000 |
Sub-total | 15,420,000 | 16,451,000 | 16,383,000 |
Total other-than-temporary impairment losses on available-for-sale securities | 0 | -25,000 | -67,000 |
Portion of (gain) recognized in other comprehensive loss (before taxes) | 0 | 0 | 0 |
Net impairment losses recognized in earnings | 0 | -25,000 | -67,000 |
Realized gains on available-for-sale securities, net | 1,104,000 | 1,743,000 | 2,749,000 |
Total other income | 16,524,000 | 18,169,000 | 19,065,000 |
OTHER EXPENSES | |||
Salaries and wages | 15,121,000 | 14,206,000 | 14,370,000 |
Pensions and other employee benefits | 4,769,000 | 4,150,000 | 4,497,000 |
Occupancy expense, net | 2,628,000 | 2,473,000 | 2,476,000 |
Furniture and equipment expense | 1,859,000 | 1,948,000 | 1,887,000 |
FDIC Assessments | 600,000 | 604,000 | 633,000 |
Pennsylvania shares tax | 1,350,000 | 1,402,000 | 1,312,000 |
Professional fees | 699,000 | 1,534,000 | 486,000 |
Automated teller machine and interchange expense | 924,000 | 1,020,000 | 1,136,000 |
Software subscriptions | 784,000 | 836,000 | 890,000 |
Loss on prepayment of debt | 0 | 1,023,000 | 2,333,000 |
Other operating expense | 5,423,000 | 5,298,000 | 5,227,000 |
Total other expenses | 34,157,000 | 34,494,000 | 35,247,000 |
Income before income tax provision | 22,778,000 | 24,777,000 | 31,131,000 |
Income tax provision | 5,692,000 | 6,183,000 | 8,426,000 |
NET INCOME | $17,086,000 | $18,594,000 | $22,705,000 |
NET INCOME PER SHARE - BASIC (in Dollars per share) | $1.38 | $1.51 | $1.86 |
NET INCOME PER SHARE - DILUTED (in Dollars per share) | $1.38 | $1.50 | $1.85 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Net income | $17,086,000 | $18,594,000 | $22,705,000 |
Unrealized gains (losses) on available-for-sale securities: | |||
Unrealized holding gains (losses) on available-for-sale securities | 10,774,000 | -17,623,000 | 4,128,000 |
Reclassification adjustment for gains realized in income | -1,104,000 | -1,718,000 | -2,682,000 |
Other comprehensive gain (loss) on available-for-sale securities | 9,670,000 | -19,341,000 | 1,446,000 |
Unfunded pension and postretirement obligations: | |||
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive (loss) gain | -79,000 | 885,000 | 8,000 |
Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost | 184,000 | 2,000 | 77,000 |
Other comprehensive gain on unfunded retirement obligations | 105,000 | 887,000 | 85,000 |
Other comprehensive income (loss) before income tax | 9,775,000 | -18,454,000 | 1,531,000 |
Income tax related to other comprehensive (income) loss | -3,422,000 | 6,458,000 | -688,000 |
Net other comprehensive income (loss) | 6,353,000 | -11,996,000 | 843,000 |
Comprehensive income | $23,439,000 | $6,598,000 | $23,548,000 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2011 | $12,461,000 | ($5,106,000) | $67,568,000 | $82,302,000 | $10,160,000 | $167,385,000 |
Balance (in Shares) at Dec. 31, 2011 | 12,460,920 | 305,391 | ||||
Net income | 22,705,000 | 22,705,000 | ||||
Other comprehensive income (loss), net | 843,000 | 843,000 | ||||
Cash dividends declared on common stock | -10,272,000 | -10,272,000 | ||||
Shares issued for dividend reinvestment plan | 64,000 | 1,147,000 | 1,211,000 | |||
Shares issued for dividend reinvestment plan (in Shares) | 64,491 | |||||
Shares issued from treasury related to exercise of stock options | 251,000 | -22,000 | 229,000 | |||
Shares issued from treasury related to exercise of stock options (in Shares) | -15,023 | |||||
Restricted stock granted | 711,000 | -711,000 | 0 | |||
Restricted stock granted (in Shares) | -42,552 | |||||
Forfeiture of restricted stock | -59,000 | 59,000 | 0 | |||
Forfeiture of restricted stock (in Shares) | 3,560 | |||||
Stock-based compensation expense | 567,000 | 567,000 | ||||
Tax effect of stock option exercises | 14,000 | 14,000 | ||||
Tax benefit from employee benefit plan | 104,000 | 104,000 | ||||
Balance at Dec. 31, 2012 | 12,525,000 | -4,203,000 | 68,622,000 | 94,839,000 | 11,003,000 | 182,786,000 |
Balance (in Shares) at Dec. 31, 2012 | 12,525,411 | 251,376 | ||||
Net income | 18,594,000 | 18,594,000 | ||||
Other comprehensive income (loss), net | -11,996,000 | -11,996,000 | ||||
Cash dividends declared on common stock | -12,343,000 | -12,343,000 | ||||
Shares issued for dividend reinvestment plan | 71,000 | 1,356,000 | 1,427,000 | |||
Shares issued for dividend reinvestment plan (in Shares) | 71,129 | |||||
Shares issued from treasury related to exercise of stock options | 179,000 | 5,000 | 184,000 | |||
Shares issued from treasury related to exercise of stock options (in Shares) | -10,656 | |||||
Restricted stock granted | 633,000 | -633,000 | 0 | |||
Restricted stock granted (in Shares) | -37,886 | |||||
Forfeiture of restricted stock | -61,000 | 61,000 | 0 | |||
Forfeiture of restricted stock (in Shares) | 3,643 | |||||
Stock-based compensation expense | 696,000 | 696,000 | ||||
Tax effect of stock option exercises | -2,000 | -2,000 | ||||
Tax benefit from employee benefit plan | 126,000 | 126,000 | ||||
Balance at Dec. 31, 2013 | 12,596,000 | -3,452,000 | 70,105,000 | 101,216,000 | -993,000 | 179,472,000 |
Balance (in Shares) at Dec. 31, 2013 | 12,596,540 | 206,477 | ||||
Net income | 17,086,000 | 17,086,000 | ||||
Other comprehensive income (loss), net | 6,353,000 | 6,353,000 | ||||
Cash dividends declared on common stock | -12,889,000 | -12,889,000 | ||||
Shares issued for dividend reinvestment plan | 60,000 | 368,000 | 1,069,000 | 1,497,000 | ||
Shares issued for dividend reinvestment plan (in Shares) | 59,498 | -18,473 | ||||
Treasury stock purchased | -4,002,000 | -4,002,000 | ||||
Treasury stock purchased (in Shares) | 208,300 | |||||
Shares issued from treasury related to exercise of stock options | -1,000 | 188,000 | -64,000 | 123,000 | ||
Shares issued from treasury related to exercise of stock options (in Shares) | -867 | -11,860 | ||||
Restricted stock granted | 279,000 | -279,000 | 0 | |||
Restricted stock granted (in Shares) | -16,711 | |||||
Forfeiture of restricted stock | -125,000 | 125,000 | 0 | |||
Forfeiture of restricted stock (in Shares) | 7,458 | |||||
Stock-based compensation expense | 565,000 | 565,000 | ||||
Tax effect of stock option exercises | -1,000 | -1,000 | ||||
Tax benefit from dividends on restricted stock | 21,000 | 21,000 | ||||
Tax benefit from employee benefit plan | 137,000 | 137,000 | ||||
Balance at Dec. 31, 2014 | $12,655,000 | ($6,744,000) | $71,541,000 | $105,550,000 | $5,360,000 | $188,362,000 |
Balance (in Shares) at Dec. 31, 2014 | 12,655,171 | 375,191 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common stock, dividends, per share | $1.04 | $1 | $0.84 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $17,086,000 | $18,594,000 | $22,705,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 476,000 | 2,047,000 | 288,000 |
Realized gains on available-for-sale securities, net | -1,104,000 | -1,718,000 | -2,682,000 |
Loss on prepayment of debt | 0 | 1,023,000 | 2,333,000 |
Realized (gain) loss on foreclosed assets | -136,000 | 71,000 | 66,000 |
(Gain) loss on disposition of premises and equipment | -8,000 | 16,000 | -270,000 |
Depreciation expense | 1,940,000 | 2,020,000 | 1,939,000 |
Accretion and amortization on securities, net | 1,375,000 | 1,836,000 | 1,581,000 |
Accretion and amortization on loans and deposits, net | -27,000 | -32,000 | -49,000 |
Decrease (increase) in fair value of servicing rights | 27,000 | -67,000 | 188,000 |
Increase in cash surrender value of life insurance | -376,000 | -399,000 | -455,000 |
Stock-based compensation | 565,000 | 696,000 | 567,000 |
Amortization of core deposit intangibles | 35,000 | 51,000 | 74,000 |
Deferred income taxes | 1,254,000 | 1,839,000 | 3,760,000 |
Gains on sales of loans, net | -768,000 | -1,969,000 | -2,016,000 |
Origination of loans for sale | -21,680,000 | -58,427,000 | -62,829,000 |
Proceeds from sales of loans | 22,317,000 | 62,436,000 | 62,821,000 |
Decrease (increase) in accrued interest receivable and other assets | 1,395,000 | 3,234,000 | -1,043,000 |
(Decrease) increase in accrued interest payable and other liabilities | -90,000 | -679,000 | 674,000 |
Net Cash Provided by Operating Activities | 22,281,000 | 30,572,000 | 27,652,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Proceeds from maturities of certificates of deposit | 2,560,000 | 480,000 | 0 |
Purchase of certificates of deposit | -960,000 | -1,688,000 | -1,060,000 |
Proceeds from sales of available-for-sale securities | 56,269,000 | 25,500,000 | 24,228,000 |
Proceeds from calls and maturities of available-for-sale securities | 78,101,000 | 97,123,000 | 114,247,000 |
Purchase of available-for-sale securities | -158,894,000 | -152,163,000 | -126,820,000 |
Redemption of Federal Home Loan Bank of Pittsburgh stock | 2,804,000 | 2,680,000 | 1,931,000 |
Purchase of Federal Home Loan Bank of Pittsburgh stock | -602,000 | -1,624,000 | 0 |
Net decrease in loans | 10,317,000 | 39,059,000 | 22,320,000 |
Purchase of premises and equipment | -801,000 | -801,000 | -1,622,000 |
Proceeds from disposition of premises and equipment | 43,000 | 42,000 | 456,000 |
Purchase of investment in limited liability entity | 0 | -147,000 | -538,000 |
Return of principal on limited liability entity investments | 173,000 | 164,000 | 114,000 |
Proceeds from sale of foreclosed assets | 1,504,000 | 255,000 | 1,380,000 |
Net Cash (Used in) Provided by Investing Activities | -9,486,000 | 8,880,000 | 34,636,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase (decrease) in deposits | 13,473,000 | -51,590,000 | -12,106,000 |
Net (decrease) increase in short-term borrowings | -17,848,000 | 17,818,000 | 617,000 |
Repayments of long-term borrowings | -278,000 | -11,497,000 | -43,884,000 |
Purchase of treasury stock | -4,002,000 | 0 | 0 |
Sale of treasury stock | 123,000 | 184,000 | 229,000 |
Tax benefit from compensation plans | 157,000 | 124,000 | 118,000 |
Common dividends paid | -11,392,000 | -10,916,000 | -9,061,000 |
Net Cash Used in Financing Activities | -19,767,000 | -55,877,000 | -64,087,000 |
(DECREASE) IN CASH AND CASH EQUIVALENTS | -6,972,000 | -16,425,000 | -1,799,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 38,591,000 | 55,016,000 | 56,815,000 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 31,619,000 | 38,591,000 | 55,016,000 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Assets acquired through foreclosure of real estate loans | 1,665,000 | 339,000 | 1,004,000 |
Accrued purchase of available-for-sale securities | 226,000 | 0 | 0 |
Interest paid | 5,138,000 | 5,782,000 | 9,246,000 |
Income taxes paid | $4,432,000 | $4,213,000 | $4,250,000 |
Note_1_Nature_of_Operations_an
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
BASIS OF CONSOLIDATION - The consolidated financial statements include the accounts of Citizens & Northern Corporation and its subsidiaries, Citizens & Northern Bank (“C&N Bank”), Bucktail Life Insurance Company and Citizens & Northern Investment Corporation (collectively, “Corporation”), as well as C&N Bank’s wholly-owned subsidiary, C&N Financial Services Corporation. All material intercompany balances and transactions have been eliminated in consolidation. | |
NATURE OF OPERATIONS - The Corporation is primarily engaged in providing a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. Lending products include mortgage loans, commercial loans and consumer loans, as well as specialized instruments such as commercial letters-of-credit. Deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts and certificates of deposit. The Corporation also offers non-insured “RepoSweep” accounts. | |
The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services. The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one reportable segment, “Community Banking.” All of the Corporation’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Corporation supports the others. | |
The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities. As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. | |
USE OF ESTIMATES - The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America. In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to change include: (1) the allowance for loan losses, (2) fair values of debt securities based on estimates from independent valuation services or from brokers, (3) assessment of impaired securities to determine whether or not the securities are other-than-temporarily impaired, (4) valuation of deferred tax assets and (5) valuation of obligations from defined benefit plans. | |
INVESTMENT SECURITIES - Investment securities are accounted for as follows: | |
Available-for-sale securities - includes debt securities not classified as held-to-maturity or trading, and unrestricted equity securities. Such securities are reported at fair value, with unrealized gains and losses excluded from earnings and reported separately through accumulated other comprehensive income, net of tax. Amortization of premiums and accretion of discounts on available-for-sale securities are recorded using the level yield method over the remaining contractual life of the securities, adjusted for actual prepayments. Realized gains and losses on sales of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security. Securities within the available-for-sale portfolio may be used as part of the Corporation’s asset and liability management strategy and may be sold in response to changes in interest rate risk, prepayment risk or other factors. | |
Other-than-temporary impairment - Declines in the fair value of available-for-sale securities that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value, and (4) whether the Corporation intends to sell the security or if it is more likely than not that the Corporation will be required to sell the security before the recovery of its amortized cost basis. The credit-related impairment is recognized in earnings and is the difference between a security’s amortized cost basis and the present value of expected future cash flows discounted at the security’s effective interest rate. For debt securities classified as held-to-maturity, if any, the amount of noncredit-related impairment is recognized in other comprehensive income and accreted over the remaining life of the debt security as an increase in the carrying value of the security. In addition, the risk of future other-than-temporary impairment may be influenced by additional bank failures, prolonged recession in the U.S. economy, changes to real estate values, interest deferrals and whether the federal government provides assistance to financial institutions. | |
Restricted equity securities - Restricted equity securities consist primarily of Federal Home Loan Bank of Pittsburgh stock, and are carried at cost and evaluated for impairment. Holdings of restricted equity securities are included in Other Assets in the Consolidated Balance Sheet, and dividends received on restricted securities are included in Other Income in the Consolidated Statement of Income. | |
LOANS HELD FOR SALE - Mortgage loans held for sale are reported at the lower of cost or market, determined in the aggregate. | |
LOANS RECEIVABLE - Loans receivable which management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan fees. Interest income is accrued on the unpaid principal balance. Loan origination and commitment fees, as well as certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. | |
The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first and junior lien residential mortgages, home equity lines of credit and residential construction loans. The most significant classes of commercial loans are commercial loans secured by real estate, non-real estate secured commercial and industrial loans, loans to political subdivisions, commercial construction, and loans secured by farmland. | |
Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not recognized on specific impaired loans unless the likelihood of further loss is remote. Interest payments received on loans for which the risk of further loss is greater than remote are applied as a reduction of the loan principal balance. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. Generally, 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. Also, the amortization of deferred loan fees is discontinued when a loan is placed on nonaccrual status. | |
ALLOWANCE FOR LOAN LOSSES - The allowance for loan losses represents management’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 uncollectible 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. Non-residential consumer loans are generally charged off no later than when they are 120 days past due on a contractual basis, or earlier in the event of bankruptcy or if there is an amount deemed uncollectible. | |
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management 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. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses. Such agencies may require the Corporation to recognize adjustments to the allowance based on their judgments of information available to them at the time of their examination. In the process of evaluating the loan portfolio, management also considers the Corporation’s exposure to losses from unfunded loan commitments. As of December 31, 2014 and 2013, management determined that no allowance for credit losses related to unfunded loan commitments was required. | |
The allowance consists primarily of two major components – (1) a specific component based on a detailed assessment of certain larger loan relationships, mainly commercial purpose, determined on a loan-by-loan basis; and (2) a general component for the remainder of the portfolio based on a collective evaluation of pools of loans with similar risk characteristics. The general component is assigned to each pool of loans based on both historical net charge-off experience, and an evaluation of certain qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the above methodologies for estimating specific and general losses in the portfolio. | |
The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee. Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of 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 individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are subject to a restructuring agreement. The pools of loans for each loan segment are evaluated for loss exposure based upon average historical net charge-off rates (currently thirty-six months), adjusted for qualitative factors. Qualitative risk factors (described in the following paragraph) are evaluated for the impact on each of the three distinct segments (residential mortgage, commercial and consumer) within the loan portfolio. Each qualitative factor is assigned a value to reflect improving, stable or declining conditions based on management’s judgment using relevant information available at the time of the evaluation. Any adjustments to the factors are supported by a narrative documentation of changes in conditions accompanying the allowance for loan loss calculation. | |
The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment. The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 67% at December 31, 2014) are secured by real estate, and accordingly, the Corporation’s risk for the commercial segment is significantly affected by commercial real estate values. The consumer segment includes a wide mix of loans for different purposes, primarily secured loans, including loans secured by motor vehicles, manufactured housing and other types of collateral. | |
Loans are classified as 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 by management in determining impairment include payment status, collateral value 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. Management 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 shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by the fair value of the collateral (if the loan is collateral dependent), by future cash flows discounted at the loan’s effective rate or by the loan’s observable market price. | |
For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. 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 original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. | |
For commercial and industrial 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 agings 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. | |
Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Non-accrual troubled debt restructurings may be restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive months after modification. Loans classified as troubled debt restructurings are designated as impaired. | |
BANK PREMISES AND EQUIPMENT - Bank premises and equipment are stated at cost less accumulated depreciation. Repair and maintenance expenditures which extend the useful lives of assets are capitalized, and other repair and maintenance expenditures are expensed as incurred. Depreciation expense is computed using the straight-line method. | |
IMPAIRMENT OF LONG-LIVED ASSETS - The Corporation reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. These changes in circumstances may include a significant decrease in the market value of an asset or the manner in which an asset is used. If there is an indication the carrying value of an asset may not be recoverable, future undiscounted cash flows expected to result from use of the asset are estimated. If the sum of the expected cash flows is less than the carrying value of the asset, a loss is recognized for the difference between the carrying value and fair market value of the asset. | |
INTEREST COSTS - The Corporation capitalizes interest as a component of the cost of premises and equipment constructed or acquired for its own use. The amount of capitalized interest in 2014, 2013, and 2012 was not significant. | |
FORECLOSED ASSETS HELD FOR SALE - Foreclosed assets held for sale consist of real estate acquired by foreclosure and are initially recorded at fair value, less estimated selling costs. | |
GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS- Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may be impairment. Core deposit intangibles are being amortized over periods of time that represent the expected lives using a method of amortization that reflects the pattern of economic benefit. Core deposit intangibles are subject to impairment testing whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. | |
SERVICING RIGHTS - The estimated fair value of servicing rights related to mortgage loans sold and serviced by the Corporation is recorded as an asset upon the sale of such loans. The valuation of servicing rights is adjusted quarterly, with changes in fair value included in Other Operating Income in the consolidated statements of operations. Significant inputs to the valuation include expected net servicing income to be received, the expected life of the underlying loans and the discount rate. The servicing rights asset is included in Other Assets in the consolidated balance sheet, with a balance equal to fair value of $1,281,000 at December 31, 2014 and $1,123,000 at December 31, 2013. | |
INCOME TAXES - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence. Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no accrued interest related to unrecognized tax benefits. | |
STOCK COMPENSATION PLANS - The Corporation’s stock-based compensation policy applies to all forms of stock-based compensation including stock options and restricted stock units. All stock-based compensation is accounted for under the fair value method as required by generally accepted accounting principles in the United States. The expense associated with stock-based compensation is recognized over the vesting period of each individual arrangement. | |
The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of restricted stock is based on the current market price on the date of grant. | |
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - In the ordinary course of business, the Corporation has entered into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. | |
CASH FLOWS - The Corporation utilizes the net reporting of cash receipts and cash payments for certain deposit and lending activities. Cash equivalents include federal funds sold and all cash and amounts due from depository institutions and interest-bearing deposits in other banks with original maturities of three months or less. | |
TRUST ASSETS AND INCOME - Assets held by the Corporation in a fiduciary or agency capacity for its customers are not included in the financial statements since such items are not assets of the Corporation. Trust income is recorded on a cash basis, which is not materially different from the accrual basis. |
Note_2_Recent_Accounting_Prono
Note 2 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Changes and Error Corrections [Text Block] | 2. RECENT ACCOUNTING PRONOUNCEMENTS: |
The FASB issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have significant implications (elected or required) within the consolidated financial statements, or that management expects may have a significant impact on financial statements issued in the near future. | |
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in this standard clarify that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. For the Corporation, the amendments in this Update were effective beginning in the first quarter 2014. The Corporation will be affected by these amendments if unrecognized tax benefits arise in future periods. | |
In January 2014, the FASB issued ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. This Update provides guidance on accounting for investments in flow-through limited liability entities that qualify for the federal low-income housing tax credit. Currently, under U.S. GAAP, a reporting entity that invests in a qualified affordable housing project may elect to account for that investment using the effective yield method if certain conditions are met, or alternatively, the investment would be accounted for under either the equity method or the cost method. Generally, investors in qualified affordable housing project investments expect to receive all of their return through the receipt of tax credits and tax deductions from operating losses, and use of the effective yield method results in recognition of the return as a reduction of income tax expense over the period of the investment. The amendments in this Update modify the conditions that a reporting entity must meet to be eligible to use a method other than the equity or cost methods to account for investments in qualified affordable housing projects. Additionally, the amendments introduce new recurring disclosure requirements about investments in qualified affordable housing projects. The amendments in this Update are effective for the Corporation for annual and interim periods beginning in the first quarter 2015, and are to be applied retrospectively. Information concerning the Corporation’s investments in qualified affordable housing projects is provided in Note 14 to these consolidated financial statements. | |
In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The objective of the amendments in this Update is to reduce diversity among reporting entities by clarifying when an in substance foreclosure occurs. The amendments in this Update clarify that an in substance foreclosure occurs, and a creditor is considered to have received physical possession of residential real property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to the requirements of the applicable jurisdiction. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. Under the modified retrospective transition method, an entity would record a cumulative-effect adjustment to residential consumer mortgage loans and foreclosed residential real estate properties existing as of the beginning of the annual period for which the amendments are effective. For prospective transition, an entity would apply the amendments to all instances of an entity receiving physical possession of residential real estate property collateralizing consumer mortgage loans that occur after the date of adoption. Early adoption is permitted. The amendments in this Update are effective for the Corporation for annual and interim periods beginning in the first quarter 2015, and the Corporation is in the process of determining how it will apply the amendments to its accounting and reporting practices. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which provides a principles-based framework for revenue recognition that supersedes virtually all previously issued revenue recognition guidance under U.S. GAAP. Additionally, the ASU requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The core principle of the five-step revenue recognition framework is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU will be effective for all annual and interim periods beginning in the first quarter 2017. The amendments in the ASU should be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. The Corporation is in the process of evaluating the potential impact of adopting this ASU, including determining which transition method to apply. | |
In June 2014, the FASB issued ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In addition to various other amendments that will affect accounting and disclosures for transactions in which the Corporation has not engaged to date, this Update requires expanded disclosures for repurchase agreements that are accounted for as secured borrowings, including: (1) a disaggregation of the gross obligation by the class of collateral pledged, (2) the remaining contractual tenor of the agreements and (3) a discussion of the potential risks associated with the agreements and the related collateral pledged, including obligations arising from a decline in the fair value of the collateral pledged and how those risks are managed. The expanded disclosure requirements associated with repurchase agreements are effective for the Corporation for annual and interim periods beginning in the second quarter 2015. Information concerning the Corporation’s repurchase agreements is provided in Note 12 to these consolidated financial statements. | |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructuring by Creditors, which requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under the claim and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. The amendments in this Update are effective for the Corporation for annual and interim periods beginning in the first quarter 2015. |
Note_3_Comprehensive_Income
Note 3 - Comprehensive Income | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Comprehensive Income (Loss) Note [Text Block] | 3. COMPREHENSIVE INCOME | ||||||||||||
Comprehensive income (loss) is the total of (1) net income (loss), and (2) all other changes in equity from non-stockholder sources, which are referred to as other comprehensive income. The components of other comprehensive income (loss), and the related tax effects, are as follows: | |||||||||||||
(In Thousands) | Before-Tax | Income Tax | Net-of-Tax | ||||||||||
Amount | Effect | Amount | |||||||||||
2014 | |||||||||||||
Unrealized gains on available-for-sale securities: | |||||||||||||
Unrealized holding gains on available-for-sale securities | $ | 10,774 | $ | (3,771 | ) | $ | 7,003 | ||||||
Reclassification adjustment for (gains) realized in income | (1,104 | ) | 386 | (718 | ) | ||||||||
Other comprehensive income on available-for-sale securities | 9,670 | (3,385 | ) | 6,285 | |||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | (79 | ) | 28 | (51 | ) | ||||||||
Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost | 184 | (65 | ) | 119 | |||||||||
Other comprehensive income on unfunded retirement obligations | 105 | (37 | ) | 68 | |||||||||
Total other comprehensive income | $ | 9,775 | $ | (3,422 | ) | $ | 6,353 | ||||||
(In Thousands) | Before-Tax | Income Tax | Net-of-Tax | ||||||||||
Amount | Effect | Amount | |||||||||||
2013 | |||||||||||||
Unrealized losses gains on available-for-sale securities: | |||||||||||||
Unrealized holding losses on available-for-sale securities | $ | (17,623 | ) | $ | 6,168 | $ | (11,455 | ) | |||||
Reclassification adjustment for (gains) realized in income | (1,718 | ) | 601 | (1,117 | ) | ||||||||
Other comprehensive loss on available-for-sale securities | (19,341 | ) | 6,769 | (12,572 | ) | ||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | 885 | (310 | ) | 575 | |||||||||
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost | 2 | (1 | ) | 1 | |||||||||
Other comprehensive incomeon unfunded retirement obligations | 887 | (311 | ) | 576 | |||||||||
Total other comprehensive loss | $ | (18,454 | ) | $ | 6,458 | $ | (11,996 | ) | |||||
(In Thousands) | Before-Tax | Income Tax | Net-of-Tax | ||||||||||
Amount | Effect | Amount | |||||||||||
2012 | |||||||||||||
Unrealized gains on available-for-sale securities: | |||||||||||||
Unrealized holding gains on available-for-sale securities | $ | 4,128 | $ | (1,608 | ) | $ | 2,520 | ||||||
Reclassification adjustment for (gains) realized in income | (2,682 | ) | 939 | (1,743 | ) | ||||||||
Other comprehensive gain on available-for-sale securities | 1,446 | (669 | ) | 777 | |||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | 8 | (2 | ) | 6 | |||||||||
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost | 77 | (17 | ) | 60 | |||||||||
Other comprehensive gain on unfunded retirement obligations | 85 | (19 | ) | 66 | |||||||||
Total other comprehensive income | $ | 1,531 | $ | (688 | ) | $ | 843 | ||||||
Changes in the components of accumulated other comprehensive income (loss), included in stockholders’ equity, are as follows: | |||||||||||||
(In Thousands) | Unrealized | Unfunded | Accumulated | ||||||||||
Holding Gains | Pension and | Other | |||||||||||
(Losses) | Postretirement | Comprehensive | |||||||||||
on Securities | Obligations | Income (Loss) | |||||||||||
2014 | |||||||||||||
Balance, beginning of period | $ | (1,004 | ) | $ | 11 | $ | (993 | ) | |||||
Other comprehensive income before reclassifications | 7,003 | (51 | ) | 6,952 | |||||||||
Amounts reclassified from accumulated other comprehensive income | (718 | ) | 119 | (599 | ) | ||||||||
Other comprehensive income | 6,285 | 68 | 6,353 | ||||||||||
Balance, end of period | $ | 5,281 | $ | 79 | $ | 5,360 | |||||||
2013 | |||||||||||||
Balance, beginning of period | $ | 11,568 | $ | (565 | ) | $ | 11,003 | ||||||
Other comprehensive (loss) income before reclassifications | (11,455 | ) | 575 | (10,880 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive loss | (1,117 | ) | 1 | (1,116 | ) | ||||||||
Other comprehensive (loss) income | (12,572 | ) | 576 | (11,996 | ) | ||||||||
Balance, end of period | $ | (1,004 | ) | $ | 11 | $ | (993 | ) | |||||
2012 | |||||||||||||
Balance, beginning of period | $ | 10,791 | $ | (631 | ) | $ | 10,160 | ||||||
Other comprehensive income before reclassifications | 2,520 | 6 | 2,526 | ||||||||||
Amounts reclassified from accumulated other comprehensive income | (1,743 | ) | 60 | (1,683 | ) | ||||||||
Other comprehensive income | 777 | 66 | 843 | ||||||||||
Balance, end of period | $ | 11,568 | $ | (565 | ) | $ | 11,003 | ||||||
Items reclassified out of each component of other comprehensive income are as follows: | |||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||
(In Thousands) | |||||||||||||
Details about Accumulated Other | Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Comprehensive Income Components | Accumulated Other | Statements of Income | |||||||||||
Comprehensive Income | |||||||||||||
Unrealized gains and losses on available-for-sale Securities | $ | (1,104 | ) | Realized gains on available-for-sale securities, net | |||||||||
386 | Income tax provision | ||||||||||||
(718 | ) | Net of tax | |||||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||||
Prior service cost | (31 | ) | Pensions and other employee benefits | ||||||||||
Actuarial loss | 19 | Pensions and other employee benefits | |||||||||||
Loss on settlement | 196 | Pensions and other employee benefits | |||||||||||
184 | Total before tax | ||||||||||||
(65 | ) | Income tax provision | |||||||||||
119 | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (599 | ) | ||||||||||
For the Year Ended December 31, 2013 | |||||||||||||
(In Thousands) | |||||||||||||
Details about Accumulated Other | Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Comprehensive Income Components | Accumulated Other | Statements of Income | |||||||||||
Comprehensive Income | |||||||||||||
Unrealized gains and losses on available-for-sale Securities | $ | 25 | Total other-than-temporary impairment losses on | ||||||||||
available-for-sale securities | |||||||||||||
(1,743 | ) | Realized gains on available-for-sale securities, net | |||||||||||
(1,718 | ) | Total before tax | |||||||||||
601 | Income tax provision | ||||||||||||
(1,117 | ) | Net of tax | |||||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||||
Prior service cost | (31 | ) | Pensions and other employee benefits | ||||||||||
Actuarial loss | 33 | Pensions and other employee benefits | |||||||||||
2 | Total before tax | ||||||||||||
(1 | ) | Income tax provision | |||||||||||
1 | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (1,116 | ) | ||||||||||
Note_4_Per_Share_Data
Note 4 - Per Share Data | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | 4. PER SHARE DATA | ||||||||||||
Net income per share is based on the weighted-average number of shares of common stock outstanding. The following data show the amounts used in computing basic and diluted net income per share. As shown in the table that follows, diluted earnings per share is computed using weighted average common shares outstanding, plus weighted-average common shares available from the exercise of all dilutive stock options, less the number of shares that could be repurchased with the proceeds of stock option exercises based on the average share price of the Corporation's common stock during the period. | |||||||||||||
Weighted- | |||||||||||||
Average | Earnings | ||||||||||||
Net | Common | Per | |||||||||||
Income | Shares | Share | |||||||||||
2014 | |||||||||||||
Earnings per share – basic | $ | 17,086,000 | 12,390,067 | $ | 1.38 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 224,015 | ||||||||||||
Hypothetical share repurchase at $19.41 | (202,032 | ) | |||||||||||
Earnings per share – diluted | $ | 17,086,000 | 12,412,050 | $ | 1.38 | ||||||||
2013 | |||||||||||||
Earnings per share – basic | $ | 18,594,000 | 12,352,383 | $ | 1.51 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 250,236 | ||||||||||||
Hypothetical share repurchase at $19.86 | (219,829 | ) | |||||||||||
Earnings per share – diluted | $ | 18,594,000 | 12,382,790 | $ | 1.5 | ||||||||
2012 | |||||||||||||
Earnings per share – basic | $ | 22,705,000 | 12,235,748 | $ | 1.86 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 200,589 | ||||||||||||
Hypothetical share repurchase at $19.16 | (176,129 | ) | |||||||||||
Earnings per share – diluted | $ | 22,705,000 | 12,260,208 | $ | 1.85 | ||||||||
Stock options that were anti-dilutive were excluded from net income per share calculations. Weighted-average common shares available from anti-dilutive instruments totaled 151,310 shares in 2014, 88,521 shares in 2013 and 145,333 shares in 2012. |
Note_5_Cash_and_Due_from_Banks
Note 5 - Cash and Due from Banks | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash and Cash Equivalents Disclosure [Text Block] | 5. CASH AND DUE FROM BANKS | ||||||||
Cash and due from banks at December 31, 2014 and 2013 include the following: | |||||||||
(In thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
Cash and cash equivalents | $ | 31,619 | $ | 38,591 | |||||
Certificates of deposit | 4,428 | 6,028 | |||||||
Total cash and due from banks | $ | 36,047 | $ | 44,619 | |||||
Certificates of deposit are issues by U.S. banks with original maturities greater than three months. Each certificate of deposit is fully FDIC-insured. The Corporation maintains cash and cash equivalents with certain financial institutions in excess of the FDIC insurance limit. | |||||||||
The Corporation is required to maintain reserves against deposit liabilities in the form of cash and balances with the Federal Reserve Bank. The reserves are based on deposit levels, account activity, and other services provided by the Federal Reserve Bank. Required reserves were $16,853,000 at December 31, 2014 and $15,318,000 at December 31, 2013. |
Note_6_Fair_Value_Measurements
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Fair Value Disclosures [Text Block] | 6. FAIR VALUE MEASUREMENTS AND FAIR VALUES OF FINANCIAL INSTRUMENTS | |||||||||||||||||
The Corporation measures certain assets at fair value. Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. FASB ASC topic 820, “Fair Value Measurements and Disclosures” establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs used in determining valuations into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: | ||||||||||||||||||
Level 1 – Fair value is based on unadjusted quoted prices in active markets that are accessible to the Corporation for identical assets. These generally provide the most reliable evidence and are used to measure fair value whenever available. | ||||||||||||||||||
Level 2 – Fair value is based on significant inputs, other than Level 1 inputs, that are observable either directly or indirectly for substantially the full term of the asset through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets, quoted market prices in markets that are not active for identical or similar assets and other observable inputs. | ||||||||||||||||||
Level 3 – Fair value is based on significant unobservable inputs. Examples of valuation methodologies that would result in Level 3 classification include option pricing models, discounted cash flows and other similar techniques. | ||||||||||||||||||
The Corporation monitors and evaluates available data relating to fair value measurements on an ongoing basis and recognizes transfers among the levels of the fair value hierarchy as of the date of an event or change in circumstances that affects the valuation method chosen. Examples of such changes may include the market for a particular asset becoming active or inactive, changes in the availability of quoted prices, or changes in the availability of other market data. | ||||||||||||||||||
At December 31, 2014 and 2013, assets measured at fair value and the valuation methods used are as follows: | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||
Quoted Prices | Other | |||||||||||||||||
in Active | Observable | Unobservable | Total | |||||||||||||||
Markets | Inputs | Inputs | Fair | |||||||||||||||
(In Thousands) | (Level 1) | (Level 2) | (Level 3) | Value | ||||||||||||||
Recurring fair value measurements | ||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES: | ||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 26,676 | $ | 0 | $ | 26,676 | ||||||||||
Obligations of states and political subdivisions: | ||||||||||||||||||
Tax-exempt | 0 | 124,839 | 0 | 124,839 | ||||||||||||||
Taxable | 0 | 33,878 | 0 | 33,878 | ||||||||||||||
Mortgage-backed securities | 0 | 83,903 | 0 | 83,903 | ||||||||||||||
Collateralized mortgage obligations, | ||||||||||||||||||
Issued by U.S. Government agencies | 0 | 238,823 | 0 | 238,823 | ||||||||||||||
Collateralized debt obligations | 0 | 34 | 0 | 34 | ||||||||||||||
Total debt securities | 0 | 508,153 | 0 | 508,153 | ||||||||||||||
Marketable equity securities | 8,654 | 0 | 0 | 8,654 | ||||||||||||||
Total available-for-sale securities | 8,654 | 508,153 | 0 | 516,807 | ||||||||||||||
Servicing rights | 0 | 0 | 1,281 | 1,281 | ||||||||||||||
Total recurring fair value measurements | $ | 8,654 | $ | 508,153 | $ | 1,281 | $ | 518,088 | ||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||
Impaired loans with a valuation allowance | $ | 0 | $ | 0 | $ | 3,241 | $ | 3,241 | ||||||||||
Valuation allowance | 0 | 0 | (769 | ) | (769 | ) | ||||||||||||
Impaired loans, net | 0 | 0 | 2,472 | 2,472 | ||||||||||||||
Foreclosed assets held for sale | 0 | 0 | 1,189 | 1,189 | ||||||||||||||
Total nonrecurring fair value measurements | $ | 0 | $ | 0 | $ | 3,661 | $ | 3,661 | ||||||||||
31-Dec-13 | ||||||||||||||||||
Quoted Prices | Other | |||||||||||||||||
in Active | Observable | Unobservable | Total | |||||||||||||||
Markets | Inputs | Inputs | Fair | |||||||||||||||
(In Thousands) | (Level 1) | (Level 2) | (Level 3) | Value | ||||||||||||||
Recurring fair value measurements | ||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES: | ||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 45,877 | $ | 0 | $ | 45,877 | ||||||||||
Obligations of states and political subdivisions: | ||||||||||||||||||
Tax-exempt | 0 | 128,426 | 0 | 128,426 | ||||||||||||||
Taxable | 0 | 34,471 | 0 | 34,471 | ||||||||||||||
Mortgage-backed securities | 0 | 86,208 | 0 | 86,208 | ||||||||||||||
Collateralized mortgage obligations, | ||||||||||||||||||
Issued by U.S. Government agencies | 0 | 178,092 | 0 | 178,092 | ||||||||||||||
Collateralized debt obligations | 0 | 660 | 0 | 660 | ||||||||||||||
Total debt securities | 0 | 473,734 | 0 | 473,734 | ||||||||||||||
Marketable equity securities | 8,924 | 0 | 0 | 8,924 | ||||||||||||||
Total available-for-sale securities | 8,924 | 473,734 | 0 | 482,658 | ||||||||||||||
Servicing rights | 0 | 0 | 1,123 | 1,123 | ||||||||||||||
Total recurring fair value measurements | $ | 8,924 | $ | 473,734 | $ | 1,123 | $ | 483,781 | ||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||
Impaired loans with a valuation allowance | $ | 0 | $ | 0 | $ | 9,889 | $ | 9,889 | ||||||||||
Valuation allowance | 0 | 0 | (2,333 | ) | (2,333 | ) | ||||||||||||
Impaired loans, net | 0 | 0 | 7,556 | 7,556 | ||||||||||||||
Foreclosed assets held for sale | 0 | 0 | 892 | 892 | ||||||||||||||
Total nonrecurring fair value measurements | $ | 0 | $ | 0 | $ | 8,448 | $ | 8,448 | ||||||||||
Loans are classified as 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. Foreclosed assets held for sale consist of real estate acquired by foreclosure. For impaired commercial loans secured by real estate and foreclosed assets held for sale, estimated fair values are determined primarily using values from third-party appraisals less estimated selling costs. | ||||||||||||||||||
Management’s evaluation and selection of valuation techniques and the unobservable inputs used in determining the fair values of assets valued using Level 3 methodologies include sensitive assumptions. Other market participants might use substantially different assumptions, which could result in calculations of fair values that would be substantially different than the amount calculated by management. The following table shows quantitative information regarding significant techniques and inputs used at December 31, 2014 and 2013 for servicing rights assets measured using unobservable inputs (Level 3 methodologies) on a recurring basis: | ||||||||||||||||||
Fair Value at | ||||||||||||||||||
12/31/14 | Valuation | Unobservable | Method or Value As of | |||||||||||||||
(In Thousands) | Technique | Input(s) | 12/31/14 | |||||||||||||||
Asset | ||||||||||||||||||
Servicing rights | $ | 1,281 | Discounted cash flow | Discount rate | 10 | % | Rate used through modeling period | |||||||||||
Loan prepayment speeds | 156 | % | Weighted-average PSA | |||||||||||||||
Servicing fees | 0.25 | % | of loan balances | |||||||||||||||
4 | % | of payments are late | ||||||||||||||||
5 | % | late fees assessed | ||||||||||||||||
$ | 1.94 | Miscellaneous fees per account per month | ||||||||||||||||
Servicing costs | $ | 6 | Monthly servicing cost per account | |||||||||||||||
$ | 24 | Additional monthly servicing cost per loan on loans more than 30 days delinquent | ||||||||||||||||
1.5 | % | of loans more than 30 days delinquent | ||||||||||||||||
3 | % | annual increase in servicing costs | ||||||||||||||||
Fair Value at | ||||||||||||||||||
12/31/13 | Valuation | Unobservable | Method or Value As of | |||||||||||||||
(In Thousands) | Technique | Input(s) | 12/31/13 | |||||||||||||||
Asset | ||||||||||||||||||
Servicing rights | $ | 1,123 | Discounted cash flow | Discount rate | 12 | % | Rate used through modeling period | |||||||||||
Loan prepayment speeds | 152 | % | Weighted-average PSA | |||||||||||||||
Servicing fees | 0.25 | % | of loan balances | |||||||||||||||
4 | % | of payments are late | ||||||||||||||||
5 | % | late fees assessed | ||||||||||||||||
$ | 1.94 | Miscellaneous fees per account per month | ||||||||||||||||
Servicing costs | $ | 6 | Monthly servicing cost per account | |||||||||||||||
$ | 24 | Additional monthly servicing cost per loan on loans more than 30 days delinquent | ||||||||||||||||
1.5 | % | of loans more than 30 days delinquent | ||||||||||||||||
3 | % | annual increase in servicing costs | ||||||||||||||||
The fair value of servicing rights is affected by expected future interest rates. Increases (decreases) in future expected interest rates tend to increase (decrease) the fair value of the Corporation’s servicing rights because of changes in expected prepayment behavior by the borrowers on the underlying loans. | ||||||||||||||||||
Following is a reconciliation of activity for Level 3 assets measured at fair value on a recurring basis: | ||||||||||||||||||
Year Ended | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||
(In Thousands) | Servicing | |||||||||||||||||
Rights | ||||||||||||||||||
Balance, beginning of period | $ | 1,123 | ||||||||||||||||
Issuances of servicing rights | 185 | |||||||||||||||||
Unrealized losses included in earnings | (27 | ) | ||||||||||||||||
Balance, end of period | $ | 1,281 | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||
Pooled Trust | Pooled Trust | |||||||||||||||||
Preferred | Preferred | |||||||||||||||||
Securities - | Securities - | |||||||||||||||||
(In Thousands) | Senior | Mezzanine | Servicing | |||||||||||||||
Tranches | Tranches | Rights | Total | |||||||||||||||
Balance, beginning of period | $ | 1,613 | $ | 0 | $ | 605 | $ | 2,218 | ||||||||||
Issuances of servicing rights | 0 | 0 | 451 | 451 | ||||||||||||||
Accretion and amortization, net | (2 | ) | 0 | 0 | (2 | ) | ||||||||||||
Proceeds from sales and calls | (1,636 | ) | (571 | ) | 0 | (2,207 | ) | |||||||||||
Realized gains, net | 23 | 571 | 0 | 594 | ||||||||||||||
Unrealized gains included in earnings | 0 | 0 | 67 | 67 | ||||||||||||||
Unrealized gains included in other comprehensive income | 2 | 0 | 0 | 2 | ||||||||||||||
Balance, end of period | $ | 0 | $ | 0 | $ | 1,123 | $ | 1,123 | ||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||
Pooled Trust | Pooled Trust | |||||||||||||||||
Preferred | Preferred | |||||||||||||||||
Securities - | Securities - | |||||||||||||||||
Senior | Mezzanine | Servicing | ||||||||||||||||
Tranches | Tranches | Rights | Total | |||||||||||||||
Balance, beginning of period | $ | 4,638 | $ | 730 | $ | 375 | $ | 5,743 | ||||||||||
Issuances of servicing rights | 0 | 0 | 418 | 418 | ||||||||||||||
Accretion and amortization, net | (8 | ) | 0 | 0 | (8 | ) | ||||||||||||
Proceeds from sales and calls | (3,429 | ) | (1,835 | ) | 0 | (5,264 | ) | |||||||||||
Realized gains, net | 56 | 1,835 | 0 | 1,891 | ||||||||||||||
Unrealized losses included in earnings | 0 | 0 | (188 | ) | (188 | ) | ||||||||||||
Unrealized gains (losses) included in other comprehensive income | 356 | (730 | ) | 0 | (374 | ) | ||||||||||||
Balance, end of period | $ | 1,613 | $ | 0 | $ | 605 | $ | 2,218 | ||||||||||
No other-than-temporary impairment losses on securities valued using Level 3 methodologies were recorded in 2014, 2013 or 2012. | ||||||||||||||||||
Certain of the Corporation’s financial instruments are not measured at fair value in the consolidated financial statements. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments are excluded from disclosure requirements. Therefore, the aggregate fair value amounts presented may not represent the underlying fair value of the Corporation. | ||||||||||||||||||
The Corporation used the following methods and assumptions in estimating fair value disclosures for financial instruments: | ||||||||||||||||||
CASH AND CASH EQUIVALENTS - The carrying amounts of cash and short-term instruments approximate fair values. | ||||||||||||||||||
CERTIFICATES OF DEPOSIT - Fair values for certificates of deposit, included in cash and due from banks in the consolidated balance sheet, are based on quoted market prices for certificates of similar remaining maturities. | ||||||||||||||||||
SECURITIES - Fair values for securities, excluding restricted equity securities, are based on quoted market prices or other methods as described above. The carrying value of restricted equity securities approximates fair value based on applicable redemption provisions. | ||||||||||||||||||
LOANS HELD FOR SALE - Fair values of loans held for sale are determined based on applicable sale prices available under the Federal Home Loan Banks’ MPF Original or Xtra program. | ||||||||||||||||||
LOANS - Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, commercial real estate, residential mortgage and other consumer. Each loan category is further segmented into fixed-rate and adjustable-rate interest terms and by performing and nonperforming categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for estimated prepayments based on historical experience, using estimated market discount rates that reflect the credit and interest rate risk inherent in the loans. Fair value of nonperforming loans is based on recent appraisals or estimates prepared by the Corporation’s lending officers. | ||||||||||||||||||
SERVICING RIGHTS - The fair value of servicing rights, included in other assets in the consolidated balance sheet, is determined through a discounted cash flow valuation. Significant inputs include expected net servicing income, the discount rate and the expected prepayment speeds of the underlying loans. | ||||||||||||||||||
DEPOSITS - The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings, money market and interest checking accounts, is (by definition) equal to the amount payable at December 31, 2014 and 2013. The fair value of time deposits, such as certificates of deposit and Individual Retirement Accounts, is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The fair value estimates of deposits do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market, commonly referred to as the core deposit intangible. | ||||||||||||||||||
BORROWED FUNDS - The fair value of borrowings is estimated using discounted cash flow analyses based on rates currently available to the Corporation for similar types of borrowing arrangements. | ||||||||||||||||||
ACCRUED INTEREST - The carrying amounts of accrued interest receivable and payable approximate fair values. | ||||||||||||||||||
OFF-BALANCE SHEET COMMITMENTS - The Corporation has commitments to extend credit and has issued standby letters of credit. Standby letters of credit are conditional guarantees of performance by a customer to a third party. Estimates of the fair value of these off-balance sheet items were not made because of the short-term nature of these arrangements and the credit standing of the counterparties. | ||||||||||||||||||
The estimated fair values, and related carrying amounts, of the Corporation’s financial instruments are as follows: | ||||||||||||||||||
(In Thousands) | Valuation | 31-Dec-14 | 31-Dec-13 | |||||||||||||||
Method(s) | Carrying | Fair | Carrying | Fair | ||||||||||||||
Used | Amount | Value | Amount | Value | ||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 31,619 | $ | 31,619 | $ | 38,591 | $ | 38,591 | |||||||||
Certificates of deposit | Level 2 | 4,428 | 4,443 | 6,028 | 6,057 | |||||||||||||
Available-for-sale securities | See Above | 516,807 | 516,807 | 482,658 | 482,658 | |||||||||||||
Restricted equity securities (included in Other Assets) | Level 2 | 1,584 | 1,584 | 3,786 | 3,786 | |||||||||||||
Loans held for sale | Level 2 | 0 | 0 | 54 | 54 | |||||||||||||
Loans, net | Level 3 | 623,209 | 629,267 | 635,640 | 634,937 | |||||||||||||
Accrued interest receivable | Level 2 | 3,908 | 3,908 | 4,146 | 4,146 | |||||||||||||
Servicing rights | Level 3 | 1,281 | 1,281 | 1,123 | 1,123 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits with no stated maturity | Level 2 | 729,052 | 729,052 | 693,479 | 693,479 | |||||||||||||
Time deposits | Level 2 | 238,937 | 239,712 | 261,037 | 262,376 | |||||||||||||
Short-term borrowings | Level 2 | 5,537 | 5,473 | 23,385 | 23,356 | |||||||||||||
Long-term borrowings | Level 2 | 73,060 | 78,866 | 73,338 | 79,400 | |||||||||||||
Accrued interest payable | Level 2 | 104 | 104 | 120 | 120 | |||||||||||||
Note_7_Securities
Note 7 - Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. SECURITIES | ||||||||||||||||||||||||
Amortized cost and fair value of available-for-sale securities at December 31, 2014 and 2013 are summarized as follows: | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Amortized | Holding | Holding | Fair | ||||||||||||||||||||||
(In Thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 27,221 | $ | 38 | $ | (583 | ) | $ | 26,676 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 120,086 | 5,134 | (381 | ) | 124,839 | ||||||||||||||||||||
Taxable | 33,637 | 415 | (174 | ) | 33,878 | ||||||||||||||||||||
Mortgage-backed securities | 82,479 | 1,493 | (69 | ) | 83,903 | ||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 239,620 | 1,239 | (2,036 | ) | 238,823 | ||||||||||||||||||||
Collateralized debt obligations: | 34 | 0 | 0 | 34 | |||||||||||||||||||||
Total debt securities | 503,077 | 8,319 | (3,243 | ) | 508,153 | ||||||||||||||||||||
Marketable equity securities | 5,605 | 3,058 | (9 | ) | 8,654 | ||||||||||||||||||||
Total | $ | 508,682 | $ | 11,377 | $ | (3,252 | ) | $ | 516,807 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Amortized | Holding | Holding | Fair | ||||||||||||||||||||||
(In Thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 47,382 | $ | 282 | $ | (1,787 | ) | $ | 45,877 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 127,748 | 2,766 | (2,088 | ) | 128,426 | ||||||||||||||||||||
Taxable | 35,154 | 206 | (889 | ) | 34,471 | ||||||||||||||||||||
Mortgage-backed securities | 84,849 | 1,819 | (460 | ) | 86,208 | ||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 182,372 | 761 | (5,041 | ) | 178,092 | ||||||||||||||||||||
Collateralized debt obligations: | 660 | 0 | 0 | 660 | |||||||||||||||||||||
Total debt securities | 478,165 | 5,834 | (10,265 | ) | 473,734 | ||||||||||||||||||||
Marketable equity securities | 6,038 | 2,886 | 0 | 8,924 | |||||||||||||||||||||
Total | $ | 484,203 | $ | 8,720 | $ | (10,265 | ) | $ | 482,658 | ||||||||||||||||
The following table presents gross unrealized losses and fair value of available-for-sale securities with unrealized loss positions that are not deemed to be other-than-temporarily impaired, aggregated by length of time that individual securities have been in a continuous unrealized loss position at December 31, 2014 and 2013: | |||||||||||||||||||||||||
31-Dec-14 | Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
(In Thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 0 | $ | 24,020 | $ | (583 | ) | $ | 24,020 | $ | (583 | ) | |||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 11,898 | (289 | ) | 6,991 | (92 | ) | 18,889 | (381 | ) | ||||||||||||||||
Taxable | 4,240 | (22 | ) | 9,159 | (152 | ) | 13,399 | (174 | ) | ||||||||||||||||
Mortgage-backed securities | 0 | 0 | 4,160 | (69 | ) | 4,160 | (69 | ) | |||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 58,812 | (396 | ) | 60,897 | (1,640 | ) | 119,709 | (2,036 | ) | ||||||||||||||||
Total debt securities | 74,950 | (707 | ) | 105,227 | (2,536 | ) | 180,177 | (3,243 | ) | ||||||||||||||||
Marketable equity securities | 134 | (9 | ) | 0 | 0 | 134 | (9 | ) | |||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 75,084 | $ | (716 | ) | $ | 105,227 | $ | (2,536 | ) | $ | 180,311 | $ | (3,252 | ) | ||||||||||
31-Dec-13 | Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
(In Thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 22,489 | $ | (1,337 | ) | $ | 4,598 | $ | (450 | ) | $ | 27,087 | $ | (1,787 | ) | ||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 44,285 | (1,425 | ) | 5,808 | (663 | ) | 50,093 | (2,088 | ) | ||||||||||||||||
Taxable | 20,873 | (766 | ) | 2,378 | (123 | ) | 23,251 | (889 | ) | ||||||||||||||||
Mortgage-backed securities | 34,377 | (460 | ) | 0 | 0 | 34,377 | (460 | ) | |||||||||||||||||
Collateralized debt obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 113,204 | (4,608 | ) | 7,399 | (433 | ) | 120,603 | (5,041 | ) | ||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 235,228 | $ | (8,596 | ) | $ | 20,183 | $ | (1,669 | ) | $ | 255,411 | $ | (10,265 | ) | ||||||||||
Gross realized gains and losses from available-for-sale securities (including OTTI losses in gross realized losses) and the related income tax provision were as follows: | |||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Gross realized gains from sales | $ | 1,328 | $ | 1,918 | $ | 2,798 | |||||||||||||||||||
Gross realized losses from sales | (224 | ) | (175 | ) | (49 | ) | |||||||||||||||||||
Losses from OTTI Impairment | 0 | (25 | ) | (67 | ) | ||||||||||||||||||||
Net realized gains | $ | 1,104 | $ | 1,718 | $ | 2,682 | |||||||||||||||||||
Income tax provision related to net realized gains | $ | 386 | $ | 601 | $ | 939 | |||||||||||||||||||
The amortized cost and fair value of available-for-sale debt securities by contractual maturity are shown in the following table as of December 31, 2014. Actual maturities may differ from contractual maturities because counterparties may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
(In Thousands) | Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 7,909 | $ | 7,992 | |||||||||||||||||||||
Due from one year through five years | 55,499 | 55,826 | |||||||||||||||||||||||
Due from five years through ten years | 61,737 | 62,306 | |||||||||||||||||||||||
Due after ten years | 55,833 | 59,303 | |||||||||||||||||||||||
Subtotal | 180,978 | 185,427 | |||||||||||||||||||||||
Mortgage-backed securities | 82,479 | 83,903 | |||||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 239,620 | 238,823 | |||||||||||||||||||||||
Total | $ | 503,077 | $ | 508,153 | |||||||||||||||||||||
The Corporation’s mortgage-backed securities and collateralized mortgage obligations have stated maturities that may differ from actual maturities due to borrowers’ ability to prepay obligations. Cash flows from such investments are dependent upon the performance of the underlying mortgage loans and are generally influenced by the level of interest rates. In the table above, mortgage-backed securities and collateralized mortgage obligations are shown in one period. | |||||||||||||||||||||||||
Investment securities carried at $369,945,000 at December 31, 2014 and $323,613,000 at December 31, 2013 were pledged as collateral for public deposits, trusts and certain other deposits as provided by law. See Note 12 for information concerning securities pledged to secure borrowing arrangements. | |||||||||||||||||||||||||
Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) whether the Corporation intends to sell the security or more likely than not will be required to sell the security before its anticipated recovery. | |||||||||||||||||||||||||
The Corporation recognized net impairment losses in earnings, as follows: | |||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Marketable equity securities (bank stocks) | $ | 0 | $ | (25 | ) | $ | (67 | ) | |||||||||||||||||
A summary of information management considered in evaluating debt and equity securities for OTTI at December 31, 2014 is provided below. | |||||||||||||||||||||||||
Debt Securities | |||||||||||||||||||||||||
At December 31, 2014, management performed an assessment for possible OTTI of the Corporation’s debt securities on an issue-by-issue basis, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. The extent of individual analysis applied to each security depended on the size of the Corporation’s investment, as well as management’s perception of the credit risk associated with each security. Based on the results of the assessment, management believes impairment of these debt securities, including municipal bonds with no external ratings, at December 31, 2014 to be temporary. | |||||||||||||||||||||||||
At December 31, 2014, the total amortized cost basis of municipal bonds with no external credit ratings was $15,854,000, with an aggregate unrealized gain of $1,000. At the time of purchase, each of these bonds was considered investment grade and had been rated by at least one credit rating agency. Most of the bonds for which credit rating agencies have withdrawn their ratings were insured by an entity that has reported significant financial problems and declines in its regulatory capital ratios, and most of the ratings were removed in the fourth quarter 2009. However, the insurance remains in effect on the bonds. In the third quarter 2013, a credit rating agency withdrew its ratings on several bonds due to changes in its rating methodology related to credit enhancement programs provided by issuers’ state governments. However, the credit enhancement remains in effect on the bonds. None of the unrated municipal bonds has failed to make a scheduled payment. | |||||||||||||||||||||||||
During the second quarter 2013, the Corporation’s holding of the senior tranche of MMCAPS Funding I, Ltd., a pooled trust preferred security, was fully redeemed primarily due to prepayments of debt by the underlying issuers in the pool. The Corporation received aggregate proceeds of $1,636,000, which included a realized pretax gain of $23,000. Also during the second quarter 2013, Astoria Financial Corporation redeemed (called) the trust preferred security held by the Corporation. The Corporation received aggregate proceeds of $5,171,000, which included a realized pretax gain of $13,000. | |||||||||||||||||||||||||
During the first quarter 2013, management sold the Corporation’s holding of the mezzanine tranche of ALESCO Preferred Funding IX, Ltd. for aggregate pretax proceeds of $571,000, which was recorded as a gain on the sale of securities. | |||||||||||||||||||||||||
During the third quarter 2012, management sold the Corporation’s holdings of the mezzanine tranches of U.S. Capital Funding II, Ltd. The securities were sold for aggregate pretax proceeds of $1,754,000, which was recorded as a gain on the sale of securities. | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
The Corporation’s marketable equity securities at December 31, 2014 and 2013 consisted exclusively of stocks of banking companies. The Corporation recognized no other-than-temporary impairment losses related to bank stocks in 2014. In 2013, the Corporation recognized an other-than-temporary impairment loss related to a bank stock of $25,000. In 2012, the Corporation recognized an other-than-temporary impairment loss related to a bank stock of $67,000. Management’s decisions to recognize other-than-temporary impairment losses followed evaluations of the issuers’ published financial results in which management determined that the recovery of the Corporation’s cost basis within the foreseeable future was uncertain. As a result of this determination, the Corporation recognized impairment losses to write each stock down to the most recent trade price at the end of the quarter in which each loss was recognized. At December 31, 2014, the Corporation held three stocks with an aggregate unrealized loss of $9,000 for which management determined an OTTI charge was not required. | |||||||||||||||||||||||||
Realized gains from sales of bank stocks totaled $363,000 in 2014, $1,018,000 in 2013, and $538,000 in 2012. | |||||||||||||||||||||||||
C&N Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB-Pittsburgh), which is one of 12 regional Federal Home Loan Banks. As a member, C&N Bank is required to purchase and maintain stock in FHLB-Pittsburgh. There is no active market for FHLB-Pittsburgh stock, and it must ordinarily be redeemed by FHLB-Pittsburgh in order to be liquidated. C&N Bank’s investment in FHLB-Pittsburgh stock, included in Other Assets in the consolidated balance sheet, was $1,454,000 at December 31, 2014 and $3,656,000 at December 31, 2013. The Corporation evaluated its holding of FHLB-Pittsburgh stock for impairment and deemed the stock to not be impaired at December 31, 2014 and December 31, 2013. In making this determination, management concluded that recovery of total outstanding par value, which equals the carrying value, is expected. The decision was based on review of financial information that FHLB-Pittsburgh has made publicly available. |
Note_8_Loans
Note 8 - Loans | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. LOANS | ||||||||||||||||||||||||||||||||
Loans outstanding at December 31, 2014 and 2013 are summarized as follows: | |||||||||||||||||||||||||||||||||
Summary of Loans by Type | |||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 291,882 | $ | 299,831 | |||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 21,166 | 23,040 | |||||||||||||||||||||||||||||||
Home equity lines of credit | 36,629 | 34,530 | |||||||||||||||||||||||||||||||
1-4 Family residential construction | 16,739 | 13,909 | |||||||||||||||||||||||||||||||
Total residential mortgage | 366,416 | 371,310 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 145,878 | 147,215 | |||||||||||||||||||||||||||||||
Commercial and industrial | 50,157 | 42,387 | |||||||||||||||||||||||||||||||
Political subdivisions | 17,534 | 16,291 | |||||||||||||||||||||||||||||||
Commercial construction and land | 6,938 | 17,003 | |||||||||||||||||||||||||||||||
Loans secured by farmland | 7,916 | 10,468 | |||||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,917 | 10,985 | |||||||||||||||||||||||||||||||
Agricultural loans | 3,221 | 3,251 | |||||||||||||||||||||||||||||||
Other commercial loans | 13,334 | 14,631 | |||||||||||||||||||||||||||||||
Total commercial | 253,895 | 262,231 | |||||||||||||||||||||||||||||||
Consumer | 10,234 | 10,762 | |||||||||||||||||||||||||||||||
Total | 630,545 | 644,303 | |||||||||||||||||||||||||||||||
Less: allowance for loan losses | (7,336 | ) | (8,663 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 623,209 | $ | 635,640 | |||||||||||||||||||||||||||||
The Corporation grants loans to individuals as well as commercial and tax-exempt entities. Commercial, residential and personal loans are made to customers geographically concentrated in the Pennsylvania and New York counties that make up the market serviced by Citizens & Northern Bank. Although the Corporation has a diversified loan portfolio, a significant portion of its debtors’ ability to honor their contracts is dependent on the local economic conditions within the region. There is no concentration of loans to borrowers engaged in similar businesses or activities that exceed 10% of total loans at December 31, 2014. | |||||||||||||||||||||||||||||||||
Transactions within the allowance for loan losses, summarized by segment and class, were as follows: | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
(In Thousands) | 2013 | Charge-offs | Recoveries | Provision (Credit) | 2014 | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,974 | $ | (164 | ) | $ | 25 | $ | 106 | $ | 2,941 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 294 | (101 | ) | 0 | (17 | ) | 176 | ||||||||||||||||||||||||||
Home equity lines of credit | 269 | (62 | ) | 0 | 115 | 322 | |||||||||||||||||||||||||||
1-4 Family residential construction | 168 | 0 | 0 | 46 | 214 | ||||||||||||||||||||||||||||
Total residential mortgage | 3,705 | (327 | ) | 25 | 250 | 3,653 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 3,123 | (1,521 | ) | 250 | (94 | ) | 1,758 | ||||||||||||||||||||||||||
Commercial and industrial | 591 | (24 | ) | 9 | 112 | 688 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 267 | (170 | ) | 5 | 181 | 283 | |||||||||||||||||||||||||||
Loans secured by farmland | 115 | 0 | 0 | 50 | 165 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 103 | 0 | 0 | (16 | ) | 87 | |||||||||||||||||||||||||||
Agricultural loans | 30 | 0 | 0 | 1 | 31 | ||||||||||||||||||||||||||||
Other commercial loans | 138 | 0 | 0 | (7 | ) | 131 | |||||||||||||||||||||||||||
Total commercial | 4,367 | (1,715 | ) | 264 | 227 | 3,143 | |||||||||||||||||||||||||||
Consumer | 193 | (97 | ) | 47 | 2 | 145 | |||||||||||||||||||||||||||
Unallocated | 398 | 0 | 0 | (3 | ) | 395 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 8,663 | $ | (2,139 | ) | $ | 336 | $ | 476 | $ | 7,336 | ||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2012 | Provision | 2013 | |||||||||||||||||||||||||||||||
Balance | Charge-offs | Recoveries | (Credit) | Balance | |||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,619 | $ | (84 | ) | $ | 24 | $ | 415 | $ | 2,974 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 247 | 0 | 0 | 47 | 294 | ||||||||||||||||||||||||||||
Home equity lines of credit | 255 | 0 | 0 | 14 | 269 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 96 | (11 | ) | 0 | 83 | 168 | |||||||||||||||||||||||||||
Total residential mortgage | 3,217 | (95 | ) | 24 | 559 | 3,705 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 1,930 | (169 | ) | 344 | 1,018 | 3,123 | |||||||||||||||||||||||||||
Commercial and industrial | 581 | (286 | ) | 4 | 292 | 591 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 234 | (4 | ) | 0 | 37 | 267 | |||||||||||||||||||||||||||
Loans secured by farmland | 129 | 0 | 0 | (14 | ) | 115 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 67 | 0 | 0 | 36 | 103 | ||||||||||||||||||||||||||||
Agricultural loans | 27 | 0 | 0 | 3 | 30 | ||||||||||||||||||||||||||||
Other commercial loans | 3 | 0 | 0 | 135 | 138 | ||||||||||||||||||||||||||||
Total commercial | 2,971 | (459 | ) | 348 | 1,507 | 4,367 | |||||||||||||||||||||||||||
Consumer | 228 | (117 | ) | 58 | 24 | 193 | |||||||||||||||||||||||||||
Unallocated | 441 | 0 | 0 | (43 | ) | 398 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 6,857 | $ | (671 | ) | $ | 430 | $ | 2,047 | $ | 8,663 | ||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2011 | Provision | 2012 | |||||||||||||||||||||||||||||||
Balance | Charge-offs | Recoveries | (Credit) | Balance | |||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 3,026 | $ | (543 | ) | $ | 18 | $ | 118 | $ | 2,619 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 266 | (9 | ) | 0 | (10 | ) | 247 | ||||||||||||||||||||||||||
Home equity lines of credit | 231 | 0 | 0 | 24 | 255 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 79 | 0 | 0 | 17 | 96 | ||||||||||||||||||||||||||||
Total residential mortgage | 3,602 | (552 | ) | 18 | 149 | 3,217 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2,004 | 0 | 1 | (75 | ) | 1,930 | |||||||||||||||||||||||||||
Commercial and industrial | 946 | (57 | ) | 7 | (315 | ) | 581 | ||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 267 | (441 | ) | 0 | 408 | 234 | |||||||||||||||||||||||||||
Loans secured by farmland | 126 | 0 | 0 | 3 | 129 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 66 | 0 | 0 | 1 | 67 | ||||||||||||||||||||||||||||
Agricultural loans | 27 | 0 | 0 | 0 | 27 | ||||||||||||||||||||||||||||
Other commercial loans | 5 | 0 | 0 | (2 | ) | 3 | |||||||||||||||||||||||||||
Total commercial | 3,441 | (498 | ) | 8 | 20 | 2,971 | |||||||||||||||||||||||||||
Consumer | 228 | (171 | ) | 59 | 112 | 228 | |||||||||||||||||||||||||||
Unallocated | 434 | 0 | 0 | 7 | 441 | ||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 7,705 | $ | (1,221 | ) | $ | 85 | $ | 288 | $ | 6,857 | ||||||||||||||||||||||
In the evaluation of the loan portfolio, management determines two major components for the allowance for loan losses – (1) a specific component based on an assessment of certain larger relationships, mainly commercial purpose loans, on a loan-by-loan basis; and (2) a general component for the remainder of the portfolio based on a collective evaluation of pools of loans with similar risk characteristics. | |||||||||||||||||||||||||||||||||
In determining the larger loan relationships for detailed assessment under the specific allowance component, the Corporation uses an internal risk rating system. Under the risk rating system, the Corporation classifies problem or potential problem loans as “Special Mention,” “Substandard,” or “Doubtful” on the basis of currently existing facts, conditions and values. Substandard loans include those characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans that do not currently expose the Corporation to sufficient risk to warrant classification as Substandard or Doubtful, but possess weaknesses that deserve management’s close attention, are deemed to be Special Mention. Risk ratings are updated any time that conditions or the situation warrants. Loans not classified are included in the “Pass” column in the table below. | |||||||||||||||||||||||||||||||||
The following tables summarize the aggregate credit quality classification of outstanding loans by risk rating as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||||
(In Thousands) | Special | ||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Residential Mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 280,094 | $ | 1,246 | $ | 10,464 | $ | 78 | $ | 291,882 | |||||||||||||||||||||||
Residential mortgage loans - junior liens | 20,502 | 112 | 552 | 0 | 21,166 | ||||||||||||||||||||||||||||
Home equity lines of credit | 35,935 | 294 | 400 | 0 | 36,629 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 16,719 | 20 | 0 | 0 | 16,739 | ||||||||||||||||||||||||||||
Total residential mortgage | 353,250 | 1,672 | 11,416 | 78 | 366,416 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 133,204 | 2,775 | 9,899 | 0 | 145,878 | ||||||||||||||||||||||||||||
Commercial and Industrial | 41,751 | 7,246 | 1,042 | 118 | 50,157 | ||||||||||||||||||||||||||||
Political subdivisions | 17,534 | 0 | 0 | 0 | 17,534 | ||||||||||||||||||||||||||||
Commercial construction and land | 4,650 | 266 | 2,022 | 0 | 6,938 | ||||||||||||||||||||||||||||
Loans secured by farmland | 5,990 | 433 | 1,468 | 25 | 7,916 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,629 | 288 | 0 | 0 | 8,917 | ||||||||||||||||||||||||||||
Agricultural loans | 3,196 | 0 | 25 | 0 | 3,221 | ||||||||||||||||||||||||||||
Other commercial loans | 13,248 | 86 | 0 | 0 | 13,334 | ||||||||||||||||||||||||||||
Total commercial | 228,202 | 11,094 | 14,456 | 143 | 253,895 | ||||||||||||||||||||||||||||
Consumer | 10,095 | 22 | 117 | 0 | 10,234 | ||||||||||||||||||||||||||||
Totals | $ | 591,547 | $ | 12,788 | $ | 25,989 | $ | 221 | $ | 630,545 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
(In Thousands) | Special | ||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Residential Mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 286,144 | $ | 1,876 | $ | 11,629 | $ | 182 | $ | 299,831 | |||||||||||||||||||||||
Residential mortgage loans - junior liens | 21,694 | 351 | 995 | 0 | 23,040 | ||||||||||||||||||||||||||||
Home equity lines of credit | 33,821 | 295 | 414 | 0 | 34,530 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 13,837 | 0 | 72 | 0 | 13,909 | ||||||||||||||||||||||||||||
Total residential mortgage | 355,496 | 2,522 | 13,110 | 182 | 371,310 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 129,834 | 5,866 | 11,368 | 147 | 147,215 | ||||||||||||||||||||||||||||
Commercial and Industrial | 32,317 | 6,697 | 3,138 | 235 | 42,387 | ||||||||||||||||||||||||||||
Political subdivisions | 16,291 | 0 | 0 | 0 | 16,291 | ||||||||||||||||||||||||||||
Commercial construction and land | 13,792 | 427 | 2,036 | 748 | 17,003 | ||||||||||||||||||||||||||||
Loans secured by farmland | 8,279 | 758 | 1,402 | 29 | 10,468 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 10,665 | 316 | 4 | 0 | 10,985 | ||||||||||||||||||||||||||||
Agricultural loans | 3,169 | 34 | 48 | 0 | 3,251 | ||||||||||||||||||||||||||||
Other commercial loans | 14,532 | 99 | 0 | 0 | 14,631 | ||||||||||||||||||||||||||||
Total commercial | 228,879 | 14,197 | 17,996 | 1,159 | 262,231 | ||||||||||||||||||||||||||||
Consumer | 10,587 | 6 | 169 | 0 | 10,762 | ||||||||||||||||||||||||||||
Totals | $ | 594,962 | $ | 16,725 | $ | 31,275 | $ | 1,341 | $ | 644,303 | |||||||||||||||||||||||
The scope of loans evaluated individually for impairment include all loan relationships greater than $200,000 for which there is at least one extension of credit graded Special Mention, Substandard or Doubtful. Also, all loans classified as troubled debt restructurings (discussed in more detail below) and all loan relationships less than $200,000 in the aggregate, but with an estimated loss of $100,000 or more, are individually evaluated for impairment. Loans that are individually evaluated for impairment, but which are not determined to be impaired, are combined with all remaining loans that are not reviewed on a specific basis, and such loans are included within larger pools of loans based on similar risk and loss characteristics for purposes of determining the general component of the allowance. The loans that have been individually evaluated, but which have not been determined to be impaired, are included in the “Collectively Evaluated” column in the table summarizing the allowance and associated loan balances as of December 31, 2014 and 2013. | |||||||||||||||||||||||||||||||||
The following tables present a summary of loan balances and the related allowance for loan losses summarized by portfolio segment and class for each impairment method used as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||
31-Dec-14 | Loans: | Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||||||||||
Evaluated | Evaluated | Totals | Evaluated | Evaluated | Totals | ||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 1,665 | $ | 290,217 | $ | 291,882 | $ | 358 | $ | 2,583 | $ | 2,941 | |||||||||||||||||||||
Residential mortgage loans - junior liens | 17 | 21,149 | 21,166 | 0 | 176 | 176 | |||||||||||||||||||||||||||
Home equity lines of credit | 0 | 36,629 | 36,629 | 0 | 322 | 322 | |||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 16,739 | 16,739 | 0 | 214 | 214 | |||||||||||||||||||||||||||
Total residential mortgage | 1,682 | 364,734 | 366,416 | 358 | 3,295 | 3,653 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 6,537 | 139,341 | 145,878 | 16 | 1,742 | 1,758 | |||||||||||||||||||||||||||
Commercial and industrial | 663 | 49,494 | 50,157 | 82 | 606 | 688 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 17,534 | 17,534 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial construction and land | 1,939 | 4,999 | 6,938 | 211 | 72 | 283 | |||||||||||||||||||||||||||
Loans secured by farmland | 1,470 | 6,446 | 7,916 | 102 | 63 | 165 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 0 | 8,917 | 8,917 | 0 | 87 | 87 | |||||||||||||||||||||||||||
Agricultural loans | 25 | 3,196 | 3,221 | 0 | 31 | 31 | |||||||||||||||||||||||||||
Other commercial loans | 0 | 13,334 | 13,334 | 0 | 131 | 131 | |||||||||||||||||||||||||||
Total commercial | 10,634 | 243,261 | 253,895 | 411 | 2,732 | 3,143 | |||||||||||||||||||||||||||
Consumer | 0 | 10,234 | 10,234 | 0 | 145 | 145 | |||||||||||||||||||||||||||
Unallocated | 395 | ||||||||||||||||||||||||||||||||
Total | $ | 12,316 | $ | 618,229 | $ | 630,545 | $ | 769 | $ | 6,172 | $ | 7,336 | |||||||||||||||||||||
31-Dec-13 | Loans: | Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||||||||||
Evaluated | Evaluated | Totals | Evaluated | Evaluated | Totals | ||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,727 | $ | 297,104 | $ | 299,831 | $ | 449 | $ | 2,525 | $ | 2,974 | |||||||||||||||||||||
Residential mortgage loans - junior liens | 183 | 22,857 | 23,040 | 100 | 194 | 294 | |||||||||||||||||||||||||||
Home equity lines of credit | 0 | 34,530 | 34,530 | 0 | 269 | 269 | |||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 13,909 | 13,909 | 0 | 168 | 168 | |||||||||||||||||||||||||||
Total residential mortgage | 2,910 | 368,400 | 371,310 | 549 | 3,156 | 3,705 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 7,988 | 139,227 | 147,215 | 1,577 | 1,546 | 3,123 | |||||||||||||||||||||||||||
Commercial and industrial | 1,276 | 41,111 | 42,387 | 106 | 485 | 591 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 16,291 | 16,291 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial construction and land | 2,776 | 14,227 | 17,003 | 72 | 195 | 267 | |||||||||||||||||||||||||||
Loans secured by farmland | 1,318 | 9,150 | 10,468 | 29 | 86 | 115 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 0 | 10,985 | 10,985 | 0 | 103 | 103 | |||||||||||||||||||||||||||
Agricultural loans | 48 | 3,203 | 3,251 | 0 | 30 | 30 | |||||||||||||||||||||||||||
Other commercial loans | 0 | 14,631 | 14,631 | 0 | 138 | 138 | |||||||||||||||||||||||||||
Total commercial | 13,406 | 248,825 | 262,231 | 1,784 | 2,583 | 4,367 | |||||||||||||||||||||||||||
Consumer | 5 | 10,757 | 10,762 | 0 | 193 | 193 | |||||||||||||||||||||||||||
Unallocated | 398 | ||||||||||||||||||||||||||||||||
Total | $ | 16,321 | $ | 627,982 | $ | 644,303 | $ | 2,333 | $ | 5,932 | $ | 8,663 | |||||||||||||||||||||
Summary information related to impaired loans as of December 31, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||
(In Thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Impaired loans with a valuation allowance | $ | 3,241 | $ | 9,889 | |||||||||||||||||||||||||||||
Impaired loans without a valuation allowance | 9,075 | 6,432 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 12,316 | $ | 16,321 | |||||||||||||||||||||||||||||
Valuation allowance related to impaired loans | $ | 769 | $ | 2,333 | |||||||||||||||||||||||||||||
Additional summary information related to impaired loans for 2014, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
(In Thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Average investment in impaired loans | $ | 14,359 | $ | 9,690 | $ | 7,209 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 703 | $ | 426 | $ | 278 | |||||||||||||||||||||||||||
Interest income recognized on a cash basis on impaired loans | $ | 703 | $ | 426 | $ | 278 | |||||||||||||||||||||||||||
The breakdown by portfolio segment and class of nonaccrual loans and loans past due ninety days or more and still accruing is as follows: | |||||||||||||||||||||||||||||||||
(In Thousands) | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
90+ Days and | 90+ Days and | ||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Accruing | Nonaccrual | ||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 1,989 | $ | 3,440 | $ | 2,016 | $ | 3,533 | |||||||||||||||||||||||||
Residential mortgage loans - junior liens | 82 | 50 | 187 | 110 | |||||||||||||||||||||||||||||
Home equity lines of credit | 49 | 22 | 87 | 62 | |||||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 0 | 0 | 72 | |||||||||||||||||||||||||||||
Total residential mortgage | 2,120 | 3,512 | 2,290 | 3,777 | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 653 | 5,804 | 744 | 7,096 | |||||||||||||||||||||||||||||
Commercial and industrial | 5 | 379 | 17 | 434 | |||||||||||||||||||||||||||||
Commercial construction and land | 35 | 1,915 | 5 | 2,663 | |||||||||||||||||||||||||||||
Loans secured by farmland | 0 | 951 | 0 | 902 | |||||||||||||||||||||||||||||
Agricultural loans | 0 | 25 | 0 | 35 | |||||||||||||||||||||||||||||
Total commercial | 693 | 9,074 | 766 | 11,130 | |||||||||||||||||||||||||||||
Consumer | 30 | 24 | 75 | 27 | |||||||||||||||||||||||||||||
Totals | $ | 2,843 | $ | 12,610 | $ | 3,131 | $ | 14,934 | |||||||||||||||||||||||||
The amounts shown in the table immediately above include loans classified as troubled debt restructurings (described in more detail below), if such loans are considered past due ninety days or more, or nonaccrual. | |||||||||||||||||||||||||||||||||
The tables below present a summary of the contractual aging of loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||
As of December 31, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||||||||||
Current & | Current & | ||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Less than | 30-89 | 90+ | Less than | 30-89 | 90+ | ||||||||||||||||||||||||||||
30 Days | Days | Days | Total | 30 Days | Days | Days | Total | ||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 282,766 | $ | 5,443 | $ | 3,673 | $ | 291,882 | $ | 289,483 | $ | 6,776 | $ | 3,572 | $ | 299,831 | |||||||||||||||||
Residential mortgage loans - junior liens | 20,853 | 190 | 123 | 21,166 | 22,247 | 506 | 287 | 23,040 | |||||||||||||||||||||||||
Home equity lines of credit | 36,300 | 258 | 71 | 36,629 | 34,263 | 118 | 149 | 34,530 | |||||||||||||||||||||||||
1-4 Family residential construction | 16,739 | 0 | 0 | 16,739 | 13,837 | 0 | 72 | 13,909 | |||||||||||||||||||||||||
Total residential mortgage | 356,658 | 5,891 | 3,867 | 366,416 | 359,830 | 7,400 | 4,080 | 371,310 | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 143,713 | 883 | 1,282 | 145,878 | 145,055 | 405 | 1,755 | 147,215 | |||||||||||||||||||||||||
Commercial and industrial | 49,994 | 43 | 120 | 50,157 | 41,730 | 434 | 223 | 42,387 | |||||||||||||||||||||||||
Political subdivisions | 17,534 | 0 | 0 | 17,534 | 16,291 | 0 | 0 | 16,291 | |||||||||||||||||||||||||
Commercial construction and land | 4,897 | 91 | 1,950 | 6,938 | 14,303 | 32 | 2,668 | 17,003 | |||||||||||||||||||||||||
Loans secured by farmland | 6,811 | 254 | 851 | 7,916 | 9,267 | 329 | 872 | 10,468 | |||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,720 | 197 | 0 | 8,917 | 10,985 | 0 | 0 | 10,985 | |||||||||||||||||||||||||
Agricultural loans | 3,105 | 91 | 25 | 3,221 | 3,203 | 13 | 35 | 3,251 | |||||||||||||||||||||||||
Other commercial loans | 13,334 | 0 | 0 | 13,334 | 14,631 | 0 | 0 | 14,631 | |||||||||||||||||||||||||
Total commercial | 248,108 | 1,559 | 4,228 | 253,895 | 255,465 | 1,213 | 5,553 | 262,231 | |||||||||||||||||||||||||
Consumer | 10,164 | 40 | 30 | 10,234 | 10,516 | 171 | 75 | 10,762 | |||||||||||||||||||||||||
Totals | $ | 614,930 | $ | 7,490 | $ | 8,125 | $ | 630,545 | $ | 625,811 | $ | 8,784 | $ | 9,708 | $ | 644,303 | |||||||||||||||||
Nonaccrual loans are included in the contractual aging immediately above. A summary of the contractual aging of nonaccrual loans at December 31, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||
Current & | |||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||
Less than | 30-89 | 90+ | |||||||||||||||||||||||||||||||
30 Days | Days | Days | Total | ||||||||||||||||||||||||||||||
December 31, 2014 Nonaccrual Totals | $ | 6,959 | $ | 369 | $ | 5,282 | $ | 12,610 | |||||||||||||||||||||||||
December 31, 2013 Nonaccrual Totals | $ | 7,878 | $ | 479 | $ | 6,577 | $ | 14,934 | |||||||||||||||||||||||||
Loans whose terms are modified are classified as Troubled Debt Restructurings (TDRs) if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Loans classified as TDRs are designated as impaired. The outstanding balance of loans subject to TDRs, as well as the contractual aging information at December 31, 2014 and 2013 is as follows: | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings (TDRs): | |||||||||||||||||||||||||||||||||
Current & | |||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||
Less than | 30-89 | 90+ | |||||||||||||||||||||||||||||||
30 Days | Days | Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
December 31, 2014 Totals | $ | 1,725 | $ | 82 | $ | 0 | $ | 5,388 | $ | 7,195 | |||||||||||||||||||||||
December 31, 2013 Totals | $ | 3,254 | $ | 13 | $ | 0 | $ | 908 | $ | 4,175 | |||||||||||||||||||||||
A summary of TDRs that occurred during 2014, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Pre- | Post- | |||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Residential mortgage, | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 3 | $ | 150 | $ | 150 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 5 | 6,679 | 5,193 | ||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 80 | 80 | ||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Pre- | Post- | |||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 6 | $ | 677 | $ | 677 | ||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 3 | 102 | 102 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2 | 866 | 866 | ||||||||||||||||||||||||||||||
Commercial and industrial | 3 | 701 | 701 | ||||||||||||||||||||||||||||||
Loans secured by farmland | 4 | 512 | 512 | ||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | 13 | ||||||||||||||||||||||||||||||
Consumer | 1 | 6 | 6 | ||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | Pre- | Post- | |||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 65 | $ | 65 | ||||||||||||||||||||||||||||
The TDRs that occurred in 2014 related to residential mortgage loans that included a reduction in payment amount on one contract, an interest only period on one contract and a reduction in interest rate and payment on one contract. The TDRs related to commercial loans in the period ended December 31, 2014 relate to six contracts associated with one relationship. The Corporation entered into a forbearance agreement with this commercial borrower which includes a reduction in monthly payment amounts over a fifteen-month period. At the end of the fifteen-month period, the monthly payment amounts would revert to the original amounts, unless the forbearance agreement is extended or the payment requirements are otherwise modified. The Corporation recorded a charge-off of $1,486,000 in the second quarter 2014 as a result of these modifications, as the payment amounts based on the forbearance agreement are not sufficient to fully amortize the contractual amount of principal outstanding on the loans. The amount of the charge-off was determined based on the excess of the contractual principal due over the present value of the payment amounts provided for in the forbearance agreement, assuming the revised payment amounts would continue until maturity, at the contractual interest rates. After the effect of the $1,486,000 charge-off related to loans to one commercial borrower described above, there was no allowance for loan losses on loans to that borrower at December 31, 2014, while the allowance on the loans amounted to $1,552,000 at December 31, 2013. There were no other changes in the allowance for loan losses related to TDRs that occurred during the year ended December 31, 2014. | |||||||||||||||||||||||||||||||||
The TDRs in 2013 included interest only payments for an extended period of time on fourteen contracts, extensions of the final maturity date on three contracts, reduction in interest rate on two contracts, and reduction in payment amount for one year on one contract. There was no allowance for loan losses on these loans at December 31, 2013 and no change in the allowance for loan losses resulting from these TDRs in the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||
The TDR in 2012 was an extension of the final maturity date and reduction of monthly payments required on the commercial loan. There was no allowance for loan losses on this loan at December 31, 2012. This loan was charged off in 2013, and there had been no allowance for loan losses on this loan prior to charge-off. | |||||||||||||||||||||||||||||||||
In 2012, there were no defaults on loans for which modifications considered to be TDRs were entered into within the previous 12 months. For 2014 and 2013, defaults on loans for which modifications considered to be TDRs were entered into within the previous 12 months are summarized as follows: | |||||||||||||||||||||||||||||||||
Number | |||||||||||||||||||||||||||||||||
Of | Recorded | ||||||||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||||||
(Balances in Thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 3 | $ | 257 | ||||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 1 | 62 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 1 | 429 | |||||||||||||||||||||||||||||||
Commercial construction and land | 1 | 25 | |||||||||||||||||||||||||||||||
Loans secured by farmland | 4 | 490 | |||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | |||||||||||||||||||||||||||||||
Number | |||||||||||||||||||||||||||||||||
Of | Recorded | ||||||||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(Balances in Thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage, | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 1 | $ | 85 | ||||||||||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2 | 588 | |||||||||||||||||||||||||||||||
Commercial construction and land | 1 | 110 | |||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | |||||||||||||||||||||||||||||||
The events of default in 2014 in the table listed above included the borrowers’ failure to make timely payments under the following circumstances: (1) for one customer relationship including one of the first lien Residential mortgages, the junior lien Residential mortgage, the Loans secured by farmland and the Agricultural loan, monthly payments of interest only were missed; however, in the fourth quarter 2014, the total principal balance of all of the loans except one of the Loans secured by farmland were fully paid off, and the balance on that loan was paid down to a balance at December 31, 2014 of $75,000; (2) for one of the Residential mortgage loans, monthly payments were missed after the interest rate and monthly payment amount had been reduced; (3) for one of the Residential mortgage loans and the Commercial loan secured by real estate, monthly payments of interest only were missed; and (4) for the Commercial construction and land loan, a monthly payment was missed after the term of the loan had been extended. There were no allowances for loan losses recorded on these loans at December 31, 2014. | |||||||||||||||||||||||||||||||||
The events of default in 2013 in the table above included the borrowers’ failure to make timely payments under the following circumstances: (1) for the Residential mortgage loan, the monthly payment amount had been reduced, (2) for the two Commercial loans secured by real estate, monthly payments of interest only were missed, (3) for the Commercial construction and land loan, a monthly payment was missed after the term of the loan had been extended, and (4) for the Agricultural loan, payment at maturity was not made on a loan that had been in interest only status. There were no adjustments to the allowance for loan losses in 2013 as a result of these events of default. | |||||||||||||||||||||||||||||||||
At December 31, 2014 and 2013, the Corporation evaluated loans to the borrowers who defaulted subsequent to restructurings, in determining the specific allowance for loan loss amounts related to the underlying loans. Based on the estimated value of the underlying collateral, net of estimated costs to sell the collateral, the Corporation determined that no allowance for loan losses was required at December 31, 2014 and 2013 for loans for which an event of default had occurred subsequent to restructuring. |
Note_9_Bank_Premises_and_Equip
Note 9 - Bank Premises and Equipment | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | 9. BANK PREMISES AND EQUIPMENT | ||||||||||||
Bank premises and equipment are summarized as follows: | |||||||||||||
(In Thousands) | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Land | $ | 2,818 | $ | 2,818 | |||||||||
Buildings and improvements | 26,973 | 26,869 | |||||||||||
Furniture and equipment | 17,412 | 17,087 | |||||||||||
Construction in progress | 98 | 2 | |||||||||||
Total | 47,301 | 46,776 | |||||||||||
Less: accumulated depreciation | (31,045 | ) | (29,346 | ) | |||||||||
Net | $ | 16,256 | $ | 17,430 | |||||||||
Depreciation expense included in occupancy expense and furniture and equipment expense was as follows: | |||||||||||||
(In Thousands) | 2014 | 2013 | 2012 | ||||||||||
Occupancy expense | $ | 998 | $ | 1,022 | $ | 1,050 | |||||||
Furniture and equipment expense | 942 | 998 | 889 | ||||||||||
Total | $ | 1,940 | $ | 2,020 | $ | 1,939 | |||||||
Note_10_Intangible_Assets
Note 10 - Intangible Assets | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Intangible Assets Disclosure [Text Block] | 10. INTANGIBLE ASSETS | ||||||||
There were no changes in the carrying amount of goodwill in 2014 and 2013. The balance in goodwill was $11,942,000 at December 31, 2014 and 2013. The Corporation did not complete any acquisitions in 2014 or 2013. | |||||||||
The Corporation has adopted ASU No. 2011-08, Intangibles – Goodwill and Other (Topic 350) – Testing Goodwill for Impairment. In testing goodwill for impairment as of December 31, 2014, the Corporation assessed qualitative factors to determine whether it is more likely than not that the fair value of its only reporting unit, its community banking operation, is less than its carrying amount. The qualitative factors assessed included the Corporation’s recent financial performance, economic conditions in the Corporation’s market area, macroeconomic conditions and other factors. Based on the assessment of qualitative factors, the Corporation determined that it is not more likely than not that the fair value of the community banking operation has fallen below its carrying value, and therefore, the Corporation did not perform the more detailed, two-step goodwill impairment test described in Topic 350. Accordingly, there was no goodwill impairment as of December 31, 2014. | |||||||||
Information related to the core deposit intangibles is as follows: | |||||||||
December 31, | |||||||||
(In Thousands) | 2014 | 2013 | |||||||
Gross amount | $ | 2,034 | $ | 2,034 | |||||
Less: accumulated amortization | (1,982 | ) | (1,947 | ) | |||||
Net | $ | 52 | $ | 87 | |||||
Amortization expense was $35,000 in 2014, $51,000 in 2013 and $74,000 in 2012. Estimated amortization expense for each of the ensuing five years is as follows: | |||||||||
(In Thousands) | |||||||||
2015 | $ | 22 | |||||||
2016 | 12 | ||||||||
2017 | 6 | ||||||||
2018 | 4 | ||||||||
2019 | 3 | ||||||||
Note_11_Deposits
Note 11 - Deposits | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Disclosure Text Block [Abstract] | ||||||
Deposit Liabilities Disclosures [Text Block] | 11. DEPOSITS | |||||
At December 31, 2014, the scheduled maturities of time deposits are as follows: | ||||||
(In Thousands) | ||||||
2015 | $ | 128,966 | ||||
2016 | 64,850 | |||||
2017 | 19,854 | |||||
2018 | 12,128 | |||||
2019 | 8,709 | |||||
Thereafter | 4,430 | |||||
$ | 238,937 | |||||
Included in interest-bearing deposits are time deposits in the amount of $100,000 or more. As of December 31, 2014, the remaining maturities or time to next re-pricing of time deposits of $100,000 or more are as follows: | ||||||
(In Thousands) | ||||||
Three months or less | $ | 38,620 | ||||
Over 3 months through 12 months | 8,910 | |||||
Over 1 year through 3 years | 11,478 | |||||
Over 3 years | 8,786 | |||||
Total | $ | 67,794 | ||||
Interest expense from time deposits of $100,000 or more amounted to $563,000 in 2014, $721,000 in 2013 and $1,846,000 in 2012. |
Note_12_Borrowed_Funds
Note 12 - Borrowed Funds | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Debt Disclosure [Text Block] | 12. BORROWED FUNDS | ||||||||
SHORT-TERM BORROWINGS | |||||||||
Short-term borrowings include the following: | |||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
FHLB-Pittsburgh borrowings | $ | 0 | $ | 20,000 | |||||
Customer repurchase agreements | 5,537 | 3,385 | |||||||
Total short-term borrowings | $ | 5,537 | $ | 23,385 | |||||
The weighted average interest rate on total short-term borrowings outstanding was 0.10% at December 31, 2014 and 0.22% at December 31, 2013. The maximum amount of total short-term borrowings outstanding at any month-end was $7,919,000 in 2014, $23,385,000 in 2013 and $20,120,000 in 2012. | |||||||||
The Corporation had available credit with other correspondent banks totaling $45,000,000 at December 31, 2014 and 2013. These lines of credit are primarily unsecured. No amounts were outstanding at December 31, 2014 or December 31, 2013. | |||||||||
The Corporation has a line of credit with the Federal Reserve Bank of Philadelphia’s Discount Window. At December 31, 2014, the Corporation had available credit in the amount of $25,367,000 on this line with no outstanding advances. At December 31, 2013 the Corporation had available credit in the amount of $26,078,000 on this line with no outstanding advances. As collateral for this line, the Corporation has pledged available-for-sale securities with the carrying value of $26,092,000 at December 31, 2014 and $27,188,000 at December 31, 2013. | |||||||||
The FHLB-Pittsburgh loan facilities are collateralized by qualifying loans secured by real estate with a book value totaling $446,780,000 at December 31, 2014 and $453,792,000 at December 31, 2013. Also, the FHLB-Pittsburgh loan facilities require the Corporation to invest in established amounts of FHLB-Pittsburgh stock. The carrying values of the Corporation’s holdings of FHLB-Pittsburgh stock (included in Other Assets) were $1,454,000 at December 31, 2014 and $3,656,000 at December 31, 2013. | |||||||||
At December 31, 2013, the Corporation had a short-term borrowing from the FHLB-Pittsburgh of $20,000,000. This borrowing matured in January 2014 and had an interest rate of 0.24%. | |||||||||
The Corporation engages in repurchase agreements with certain commercial customers. These agreements provide that the Corporation sells specified investment securities to the customers on an overnight basis and repurchases them on the following business day. The weighted average rate paid by the Corporation on customer repurchase agreements was 0.10% at December 31, 2014 and December 31, 2013. The carrying value of the underlying securities was $15,229,000 at December 31, 2014 and $11,269,000 at December 31, 2013. | |||||||||
LONG-TERM BORROWINGS | |||||||||
Long-term borrowings are as follows: | |||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
FHLB-Pittsburgh borrowings | $ | 12,060 | $ | 12,338 | |||||
Repurchase agreements | 61,000 | 61,000 | |||||||
Total long-term borrowings | $ | 73,060 | $ | 73,338 | |||||
Long-term borrowings from FHLB - Pittsburgh are as follows: | |||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
Loan maturing in 2016 with a rate of 6.86% | $ | 107 | $ | 153 | |||||
Loan maturing in 2017 with a rate of 6.83% | 16 | 22 | |||||||
Loan maturing in 2017 with a rate of 3.81% | 10,000 | 10,000 | |||||||
Loan maturing in 2020 with a rate of 4.79% | 987 | 1,146 | |||||||
Loan maturing in 2025 with a rate of 4.91% | 950 | 1,017 | |||||||
Total long-term FHLB-Pittsburgh borrowings | $ | 12,060 | $ | 12,338 | |||||
Repurchase agreements included in long-term borrowings are as follows: | |||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
Agreement maturing in 2017 with a rate of 3.595% | $ | 27,000 | $ | 27,000 | |||||
Agreement maturing in 2017 with a rate of 4.265% | 34,000 | 34,000 | |||||||
Total long-term repurchase agreements | $ | 61,000 | $ | 61,000 | |||||
Each of the repurchase agreements is putable by the issuer at quarterly intervals. The Corporation incurred a loss of $1,023,000 in 2013 on prepayment of $7,000,000 of the agreement with an interest rate of 3.595%. In 2012, the Corporation incurred losses totaling $2,333,000 from prepayment of repurchase agreement obligations, including a loss of $2,190,000 on prepayment of a total $12,000,000 of the agreements shown in the table above. | |||||||||
Securities sold under repurchase agreements were delivered to the broker-dealer who is the counter-party to the transactions. The broker-dealer may have sold, loaned or otherwise disposed of such securities to other parties in the normal course of their operations, and has agreed to resell to the Corporation substantially identical securities at the maturities of the agreements. The Master Repurchase Agreement between the Corporation and the broker-dealer provides that the Agreement constitutes a “netting contract,” as defined; however, the Corporation and the broker-dealer have no other obligations to one another and accordingly, no netting has occurred. The carrying value of the underlying securities was $70,982,000 at December 31, 2014 and $79,814,000 at December 31, 2013. Average daily repurchase agreement borrowings amounted to $61,000,000 in 2014, $62,630,000 in 2013 and $78,790,000 in 2012. The maximum amounts of outstanding borrowings under repurchase agreements with broker-dealers were $61,000,000 in 2014, $68,000,000 in 2013 and $85,000,000 in 2012. The weighted average interest rate on repurchase agreements was 4.02% in 2014, 4.01% in 2013 and 3.97% in 2012. |
Note_13_Employee_and_Postretir
Note 13 - Employee and Postretirement Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | 13. EMPLOYEE AND POSTRETIREMENT BENEFIT PLANS | ||||||||||||||||||||||||
DEFINED BENEFIT PLANS | |||||||||||||||||||||||||
The Corporation sponsors a defined benefit health care plan that provides postretirement medical benefits and life insurance to employees who meet certain age and length of service requirements. Effective January 1, 2013, this plan was amended so that full-time employees no longer accrue service time toward the Corporation-subsidized portion of the medical benefits. The plan was also amended effective January 1, 2013 to change some of the age and length-of-service requirements for participants to receive some of the benefits provided under the plan. This plan contains a cost-sharing feature, which causes participants to pay for all future increases in costs related to benefit coverage. Accordingly, actuarial assumptions related to health care cost trend rates do not significantly affect the liability balance at December 31, 2014 and December 31, 2013, and are not expected to significantly affect the Corporation's future expenses. The Corporation uses a December 31 measurement date for the postretirement plan. | |||||||||||||||||||||||||
In an acquisition in 2007, the Corporation assumed the Citizens Trust Company Retirement Plan, a defined benefit pension plan. This plan covers certain employees who were employed by Citizens Trust Company on December 31, 2002, when the plan was amended to discontinue admittance of any future participant and to freeze benefit accruals. Information related to the Citizens Trust Company Retirement Plan has been included in the tables that follow. The Corporation uses a December 31 measurement date for this plan. | |||||||||||||||||||||||||
The following table shows the funded status of the defined benefit plans: | |||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||
Pension: | Postretirement: | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
CHANGE IN BENEFIT OBLIGATION: | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,733 | $ | 1,783 | $ | 1,391 | $ | 2,081 | |||||||||||||||||
Service cost | 0 | 0 | 34 | 41 | |||||||||||||||||||||
Interest cost | 73 | 71 | 57 | 55 | |||||||||||||||||||||
Plan participants' contributions | 0 | 0 | 198 | 208 | |||||||||||||||||||||
Actuarial loss (gain) | 76 | (104 | ) | (48 | ) | (171 | ) | ||||||||||||||||||
Plan amendments | 0 | 0 | 0 | (557 | ) | ||||||||||||||||||||
Benefits paid | (16 | ) | (17 | ) | (254 | ) | (266 | ) | |||||||||||||||||
Settlement of plan obligation | (781 | ) | 0 | 0 | 0 | ||||||||||||||||||||
Benefit obligation at end of year | $ | 1,085 | $ | 1,733 | $ | 1,378 | $ | 1,391 | |||||||||||||||||
CHANGE IN PLAN ASSETS: | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 1,968 | $ | 1,842 | $ | 0 | $ | 0 | |||||||||||||||||
Actual return on plan assets | 37 | 143 | 0 | 0 | |||||||||||||||||||||
Employer contribution | 0 | 0 | 56 | 58 | |||||||||||||||||||||
Plan participants' contributions | 0 | 0 | 198 | 208 | |||||||||||||||||||||
Benefits paid | (16 | ) | (17 | ) | (254 | ) | (266 | ) | |||||||||||||||||
Settlement of plan obligation | (781 | ) | 0 | 0 | 0 | ||||||||||||||||||||
Fair value of plan assets at end of year | $ | 1,208 | $ | 1,968 | $ | 0 | $ | 0 | |||||||||||||||||
Funded (underfunded) status at end of year | $ | 123 | $ | 235 | $ | (1,378 | ) | $ | (1,391 | ) | |||||||||||||||
In 2014, there was a distribution from the plan of $781,000, or approximately 42% of the plan’s total accumulated benefit obligation prior to the distribution. The Corporation recognized a loss of $196,000 (included in net periodic benefit cost) in 2014 as a result of this settlement. | |||||||||||||||||||||||||
At December 31, 2014 and 2013, the following pension plan and postretirement plan asset and liability amounts were recognized in the consolidated balance sheet: | |||||||||||||||||||||||||
Assets and liabilities: | |||||||||||||||||||||||||
(In Thousands) | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Other assets | $ | 123 | $ | 235 | |||||||||||||||||||||
Accrued interest and other liabilities | $ | 1,378 | $ | 1,391 | |||||||||||||||||||||
At December 31, 2014 and 2013, the following items included in accumulated other comprehensive income (loss) had not been recognized as components of expense: | |||||||||||||||||||||||||
(In Thousands) | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Prior service cost | $ | 0 | $ | 0 | $ | (402 | ) | $ | (433 | ) | |||||||||||||||
Net actuarial loss | 269 | 357 | 11 | 59 | |||||||||||||||||||||
Total | $ | 269 | $ | 357 | $ | (391 | ) | $ | (374 | ) | |||||||||||||||
For the defined benefit pension plan, amortization of the net actuarial loss is expected to be $10,000 in 2015. For the postretirement plan, the estimated amount of prior service cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2015 is a reduction in expense of $31,000, and no net actuarial loss is expected to be amortized in 2015. | |||||||||||||||||||||||||
The accumulated benefit obligation for the defined benefit pension plan was $1,085,000 at December 31, 2014 and $1,733,000 at December 31, 2013. | |||||||||||||||||||||||||
The components of net periodic benefit costs from defined benefit plans are as follows: | |||||||||||||||||||||||||
(In Thousands) | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Service cost | $ | 0 | $ | 0 | $ | 0 | $ | 34 | $ | 41 | $ | 91 | |||||||||||||
Interest cost | 73 | 71 | 72 | 57 | 55 | 81 | |||||||||||||||||||
Expected return on plan assets | (88 | ) | (90 | ) | (72 | ) | 0 | 0 | 0 | ||||||||||||||||
Amortization of transition (asset) obligation | 0 | 0 | 0 | 0 | 0 | 37 | |||||||||||||||||||
Amortization of prior service cost | 0 | 0 | 0 | (31 | ) | (31 | ) | 13 | |||||||||||||||||
Recognized net actuarial loss | 19 | 32 | 27 | 0 | 1 | 0 | |||||||||||||||||||
Loss on settlement | 196 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total net periodic benefit cost | $ | 200 | $ | 13 | $ | 27 | $ | 60 | $ | 66 | $ | 222 | |||||||||||||
The weighted-average assumptions used to determine net periodic benefit cost are as follows: | |||||||||||||||||||||||||
Pension: | Postretirement: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Citizens Trust Company Retirement Plan and postretirement plan: | |||||||||||||||||||||||||
Discount rate | 4.5 | % | 4 | % | 4.5 | % | 4 | % | 4 | % | 4.5 | % | |||||||||||||
Expected return on plan assets | 5.31 | % | 5.31 | % | 7.5 | % | N/A | N/A | N/A | ||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||
The weighted-average assumptions used to determine benefit obligations as of December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
Pension: | Postretirement: | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Discount rate | 3.75 | % | 4.5 | % | 4 | % | 4.75 | % | |||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | |||||||||||||||||||||
Estimated future benefit payments, including only estimated employer contributions for the postretirement plan, which reflect expected future service, are as follows: | |||||||||||||||||||||||||
(In Thousands) | Pension | Postretirement | |||||||||||||||||||||||
2015 | $ | 235 | $ | 88 | |||||||||||||||||||||
2016 | 41 | 87 | |||||||||||||||||||||||
2017 | 16 | 88 | |||||||||||||||||||||||
2018 | 401 | 97 | |||||||||||||||||||||||
2019 | 38 | 98 | |||||||||||||||||||||||
2020-2024 | 208 | 515 | |||||||||||||||||||||||
No estimated minimum contribution to the defined benefit pension plan is required in 2015, though the Corporation may make discretionary contributions. | |||||||||||||||||||||||||
The expected return on pension plan (Citizens Trust Company Retirement Plan) assets is a significant assumption used in the calculation of net periodic benefit cost. This assumption reflects the average long-term rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. | |||||||||||||||||||||||||
The fair values of pension plan assets at December 31, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Cash and cash equivalents | 3 | % | 36 | % | |||||||||||||||||||||
Debt securities | 37 | % | 24 | % | |||||||||||||||||||||
Equity securities | 47 | % | 30 | % | |||||||||||||||||||||
Alternative funds | 13 | % | 10 | % | |||||||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||||||||
C&N Bank’s Trust and Financial Management Department manages the investment of the Citizens Trust Company Retirement Plan (pension plan) assets. Most of the Plan’s securities are mutual funds, including mutual funds principally invested in debt securities, mutual funds invested in a diversified mix of large, mid- and small-capitalization U.S. stocks, foreign stocks, and mutual funds invested in alternative asset classes such as real estate, commodities, and inflation-protected securities. The fair values of plan assets are determined based on Level 1 inputs (as described in Note 6). At December 31, 2014 and 2013, the targeted asset allocation for pension plan was 26% equity securities, 61% debt securities, 11% alternative assets and 2% cash. The pension plan’s assets do not include any shares of the Corporation’s common stock. | |||||||||||||||||||||||||
PROFIT SHARING AND DEFERRED COMPENSATION PLANS | |||||||||||||||||||||||||
The Corporation has a profit sharing plan that incorporates the deferred salary savings provisions of Section 401(k) of the Internal Revenue Code. The Corporation’s matching contributions to the Plan depend upon the tax deferred contributions of employees. The Corporation’s total basic and matching contributions were $595,000 in 2014, $557,000 in 2013 and $587,000 in 2012. | |||||||||||||||||||||||||
The Corporation has an Employee Stock Ownership Plan (ESOP). Contributions to the ESOP are discretionary, and the ESOP uses funds contributed to purchase Corporation stock for the accounts of ESOP participants. These purchases are made on the market (not directly from the Corporation), and employees are not permitted to purchase Corporation stock under the ESOP. The ESOP includes a diversification feature, which allows participants, upon reaching age 55 and 10 years of service (as defined), to sell up to 50% of their Corporation shares back to the ESOP over a period of 6 years. As of December 31, 2014 and 2013, there were no shares allocated for repurchase by the ESOP. | |||||||||||||||||||||||||
Dividends paid on shares held by the ESOP are charged to retained earnings. All Corporation shares owned through the ESOP are included in the calculation of weighted-average shares outstanding for purposes of calculating earnings per share - basic and diluted. The ESOP held 409,197 shares of Corporation stock at December 31, 2014 and 362,888 shares at December 31, 2013, all of which had been allocated to Plan participants. The Corporation’s contributions to the ESOP totaled $512,000 in 2014, $509,000 in 2013 and $507,000 in 2012. | |||||||||||||||||||||||||
The Corporation also has a nonqualified supplemental deferred compensation arrangement with its key officers. Charges to operating expense for officers’ supplemental deferred compensation were $138,000 in 2014, $186,000 in 2013 and $140,000 in 2012. | |||||||||||||||||||||||||
STOCK-BASED COMPENSATION PLANS | |||||||||||||||||||||||||
The Corporation has a Stock Incentive Plan for a selected group of senior officers. A total of 850,000 shares of common stock may be issued under the Stock Incentive Plan. Awards may be made under the Stock Incentive Plan in the form of qualified options (“Incentive Stock Options,” as defined in the Internal Revenue Code), nonqualified options, stock appreciation rights or restricted stock. Historically through December 31, 2014, all awards made under this Plan have consisted of Incentive Stock Options or restricted stock. Incentive Stock Options have an exercise price equal to the market value of the stock at the date of grant, vest after 6 months and expire after 10 years. Restricted stock awards issued under the Stock Incentive Plan vest ratably over terms ranging from 3-4 years, and most of the restricted stock awards issued under this Plan in 2014, 2013 and 2012 include a condition that the Corporation must meet an annual targeted return on average equity (“ROAE”) performance ratio, as defined, in order for participants to vest. The Corporation met the ROAE target for the 2014, 2013 and 2012 plan years. For 2014 restricted stock awards to individuals who are substantially involved in mortgage lending, vesting is not dependent on the Corporation’s ROAE. There are 286,386 shares available for issuance under the Stock Incentive Plan as of December 31, 2014. | |||||||||||||||||||||||||
Also, the Corporation has an Independent Directors Stock Incentive Plan. This plan permits awards of nonqualified stock options and/or restricted stock to non-employee directors. A total of 135,000 shares of common stock may be issued under the Independent Directors Stock Incentive Plan. The recipients’ rights to exercise stock options under this plan expire 10 years from the date of grant. The exercise prices of all stock options awarded under the Independent Directors Stock Incentive Plan are equal to market value as of the dates of grant. The restricted stock awards granted through the end of 2014 vest ratably over 3 years. There are 30,775 shares available for issuance under the Independent Directors Stock Incentive Plan as of December 31, 2014. | |||||||||||||||||||||||||
The Corporation records stock option expense based on estimated fair value calculated using the Black-Scholes-Merton option-pricing model with the following assumptions: | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Volatility | 39 | % | 41 | % | 41 | % | |||||||||||||||||||
Expected option lives (in years) | 8 | 8 | 7 | ||||||||||||||||||||||
Risk-free interest rate | 2.85 | % | 1.6 | % | 1.53 | % | |||||||||||||||||||
Dividend yield | 4.33 | % | 3.69 | % | 3.97 | % | |||||||||||||||||||
Management estimated the lives for options based on the Corporation’s average historical experience with both plans. The Corporation utilized its historical volatility and dividend yield over the immediately prior 8-year period to estimate future levels of volatility and dividend yield for the 2014 and 2013 awards, and utilized its historical volatility and dividend yield over the immediately prior 7-year period in estimating the value of the 2012 awards. The risk-free interest rate was based on the published yield of zero-coupon U.S. Treasury strips as of the grant date, with a maturity coinciding with the estimated option lives. | |||||||||||||||||||||||||
Total stock-based compensation expense is as follows: | |||||||||||||||||||||||||
(In Thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Stock options | $ | 153 | $ | 242 | $ | 247 | |||||||||||||||||||
Restricted stock | 412 | 454 | 320 | ||||||||||||||||||||||
Total | $ | 565 | $ | 696 | $ | 567 | |||||||||||||||||||
A summary of stock option activity is presented below: | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||||||
Shares | Price | Shares | Price | Shares | Price | ||||||||||||||||||||
Outstanding, beginning of year | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | 301,797 | $ | 19.05 | ||||||||||||||||
Granted | 39,027 | $ | 20.45 | 64,050 | $ | 19.21 | 64,757 | $ | 18.54 | ||||||||||||||||
Exercised | (50,415 | ) | $ | 17.57 | (10,656 | ) | $ | 17.22 | (17,284 | ) | $ | 16.2 | |||||||||||||
Forfeited | (16,424 | ) | $ | 20.03 | (14,135 | ) | $ | 20.13 | (6,830 | ) | $ | 21.51 | |||||||||||||
Expired | (14,207 | ) | $ | 26.59 | (18,753 | ) | $ | 20.73 | (4,770 | ) | $ | 17 | |||||||||||||
Outstanding, end of year | 316,157 | $ | 19.05 | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | ||||||||||||||||
Options exercisable at year-end | 316,157 | $ | 19.05 | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | ||||||||||||||||
Weighted-average fair value of options granted | $ | 5.5 | $ | 5.56 | $ | 5.15 | |||||||||||||||||||
Weighted-average fair value of options forfeited | $ | 4.89 | $ | 3.77 | $ | 4.03 | |||||||||||||||||||
The weighted-average remaining contractual term of outstanding stock options at December 31, 2014 was 5.4 years. The aggregate intrinsic value of stock options outstanding (excluding options issued at exercise prices greater than the final closing price of the Corporation’s stock in 2014) was $668,000 at December 31, 2014. The total intrinsic value of options exercised was $90,000 in 2014, $29,000 in 2013 and $72,000 in 2012. | |||||||||||||||||||||||||
The following summarizes non-vested stock options and restricted stock activity as of and for the year ended December 31, 2014: | |||||||||||||||||||||||||
Stock Options | Restricted Stock | ||||||||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Number | Grant Date | Number | Grant Date | ||||||||||||||||||||||
of Shares | Fair Value | of Shares | Fair Value | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 0 | 67,878 | $ | 18.67 | |||||||||||||||||||||
Granted | 39,027 | $ | 5.5 | 16,711 | $ | 20.4 | |||||||||||||||||||
Vested | (39,027 | ) | $ | 5.5 | (24,695 | ) | $ | 18.18 | |||||||||||||||||
Forfeited | 0 | (7,458 | ) | $ | 19.47 | ||||||||||||||||||||
Outstanding, December 31, 2014 | 0 | 52,436 | $ | 19.34 | |||||||||||||||||||||
Compensation cost related to restricted stock is recognized based on the market price of the stock at the grant date over the vesting period. As of December 31, 2014, there was $604,000 total unrecognized compensation costs related to restricted stock, which is expected to be recognized over a weighted average period of 1.5 years. | |||||||||||||||||||||||||
In the first two months of 2015, the Corporation awarded 22,496 shares of restricted stock under the Stock Incentive Plan and 7,130 shares of restricted stock under the Independent Directors Stock Incentive Plans. The 2015 restricted stock awards under the Stock Incentive Plan vest ratably over four years, and vesting for 20,298 of the restricted shares depends on the Corporation meeting a ROAE target each year. The 2015 restricted stock issued under the Independent Directors Stock Incentive Plan vests over one year. Total estimated stock-based compensation for 2015 is $628,000. The restricted stock awards made in the first two months of 2015 are not included in the tables above. | |||||||||||||||||||||||||
The Corporation has issued shares from treasury stock for almost all stock option exercises through December 31, 2014. Management does not anticipate that stock repurchases will be necessary to accommodate stock option exercises in 2015. |
Note_14_Income_Taxes
Note 14 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | 14. INCOME TAXES | ||||||||||||||||||||||||
The net deferred tax asset at December 31, 2014 and 2013 represents the following temporary difference components: | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
(In Thousands) | 2014 | 2013 | |||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Unrealized holding losses on securities | $ | 0 | $ | 541 | |||||||||||||||||||||
Net realized losses on securities | 144 | 91 | |||||||||||||||||||||||
Allowance for loan losses | 2,568 | 3,032 | |||||||||||||||||||||||
Credit for alternative minimum tax paid | 537 | 1,905 | |||||||||||||||||||||||
Other deferred tax assets | 2,595 | 2,332 | |||||||||||||||||||||||
Total deferred tax assets | 5,844 | 7,901 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Unrealized holding gains on securities | 2,844 | 0 | |||||||||||||||||||||||
Defined benefit plans - ASC 835 | 43 | 6 | |||||||||||||||||||||||
Bank premises and equipment | 1,134 | 1,314 | |||||||||||||||||||||||
Core deposit intangibles | 18 | 30 | |||||||||||||||||||||||
Other deferred tax liabilities | 137 | 207 | |||||||||||||||||||||||
Total deferred tax liabilities | 4,176 | 1,557 | |||||||||||||||||||||||
Deferred tax asset, net | $ | 1,668 | $ | 6,344 | |||||||||||||||||||||
The provision for income taxes includes the following: | |||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Currently payable | $ | 4,280 | $ | 4,125 | $ | 4,545 | |||||||||||||||||||
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets | 158 | 219 | 121 | ||||||||||||||||||||||
Deferred | 1,254 | 1,839 | 3,760 | ||||||||||||||||||||||
Total provision | $ | 5,692 | $ | 6,183 | $ | 8,426 | |||||||||||||||||||
A reconciliation of income tax at the statutory rate to the Corporation’s effective rate is as follows (amounts in thousands): | |||||||||||||||||||||||||
(Amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Amount | % | Amount | % | Amount | % | ||||||||||||||||||||
Expected provision | $ | 7,973 | 35 | $ | 8,672 | 35 | $ | 10,896 | 35 | ||||||||||||||||
Tax-exempt interest income | (1,982 | ) | (8.70 | ) | (2,137 | ) | (8.62 | ) | (2,287 | ) | (7.35 | ) | |||||||||||||
Nondeductible interest expense | 56 | 0.25 | 60 | 0.24 | 92 | 0.3 | |||||||||||||||||||
Dividends received deduction | (79 | ) | (0.35 | ) | (76 | ) | (0.31 | ) | (78 | ) | (0.25 | ) | |||||||||||||
Increase in cash surrender value of life insurance | (132 | ) | (0.58 | ) | (140 | ) | (0.57 | ) | (159 | ) | (0.51 | ) | |||||||||||||
Employee stock option compensation | 41 | 0.18 | 67 | 0.27 | 62 | 0.2 | |||||||||||||||||||
Tax benefit from limited partnership investment | (83 | ) | (0.36 | ) | (85 | ) | (0.34 | ) | 0 | 0 | |||||||||||||||
Other, net | (101 | ) | (0.45 | ) | (178 | ) | (0.72 | ) | (100 | ) | (0.32 | ) | |||||||||||||
Effective income tax provision | $ | 5,692 | 24.99 | $ | 6,183 | 24.95 | $ | 8,426 | 27.07 | ||||||||||||||||
The Corporation has investments in three limited partnerships that manage affordable housing projects that have qualified for the federal low-income housing tax credit. The Corporation’s expected return from these investments is based on the receipt of tax credits and tax benefits from deductions of operating losses. The Corporation uses the effective yield method to account for these investments, with the benefits recognized as a reduction of the provision for income taxes. For two of the three limited partnership investments, the tax credits have been received in full in prior years, and the Corporation has fully realized the benefits of the credits and amortized its initial investments in the partnerships. The most recent affordable housing project was completed in 2013, and the Corporation expects to receive tax credits over a 10-year period beginning in 2013. At December 31, 2014, the carrying amount of the Corporation’s investment is $906,000 (included in Other Assets in the consolidated balance sheets). In 2013, the Corporation received tax credits and other tax benefits totaling $160,000, and recognized a reduction of the provision for income tax of $85,000. The estimated amount of tax credits and other tax benefits to be received for 2014 is $159,000, and the amount recognized as a reduction of the provision for income taxes for 2014 is $83,000. | |||||||||||||||||||||||||
The Corporation has no unrecognized tax benefits, nor pending examination issues related to tax positions taken in preparation of its income tax returns. With limited exceptions, the Corporation is no longer subject to examination by the Internal Revenue Service for years prior to 2011. |
Note_15_Related_Party_Transact
Note 15 - Related Party Transactions | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||
Related Party Transactions Disclosure [Text Block] | 15. RELATED PARTY TRANSACTIONS | ||||||||||||||||||||
Loans to executive officers, directors of the Corporation and its subsidiaries and any associates of the foregoing persons are as follows: | |||||||||||||||||||||
(In Thousands) | Beginning | New | Other | Ending | |||||||||||||||||
Balance | Loans | Repayments | Changes | Balance | |||||||||||||||||
12 directors, 8 executive officers 2014 | $ | 12,547 | $ | 188 | $ | (1,358 | ) | $ | 646 | $ | 12,023 | ||||||||||
11 directors, 8 executive officers 2013 | 14,125 | 1,110 | (2,723 | ) | 35 | 12,547 | |||||||||||||||
11 directors, 7 executive officers 2012 | 12,997 | 2,517 | (1,424 | ) | 35 | 14,125 | |||||||||||||||
The above transactions were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons and do not involve more than normal risks of collectability. Other changes represent net increases in existing lines of credit and transfers in and out of the related party category. | |||||||||||||||||||||
Deposits from related parties held by the Corporation amounted to $3,203,000 at December 31, 2014 and $3,897,000 at December 31, 2013. |
Note_16_Offbalance_Sheet_Risk
Note 16 - Off-balance Sheet Risk | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||
Supplemental Balance Sheet Disclosures [Text Block] | 16. OFF-BALANCE SHEET RISK | ||||||||
The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit, interest rate or liquidity risk in excess of the amount recognized in the consolidated balance sheet. The contract amounts of these instruments express the extent of involvement the Corporation has in particular classes of financial instruments. | |||||||||
The Corporation’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | |||||||||
Financial instruments whose contract amounts represent credit risk at December 31, 2014 and 2013 are as follows: | |||||||||
(In Thousands) | 2014 | 2013 | |||||||
Commitments to extend credit | $ | 143,863 | $ | 139,866 | |||||
Standby letters of credit | 13,415 | 21,590 | |||||||
Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. The Corporation evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Corporation, for extensions of credit is based on management’s credit assessment of the counterparty. | |||||||||
Standby letters of credit are conditional commitments issued by the Corporation guaranteeing performance by a customer to a third party. Those guarantees are issued primarily to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Some of the standby letters of credit are collateralized by real estate or other assets, and others are unsecured. The extent to which proceeds from liquidation of collateral would be expected to cover the maximum potential amount of future payments related to standby letters of credit is not estimable. The Corporation has recorded no liability associated with standby letters of credit as of December 31, 2014 and 2013. | |||||||||
Standby letters of credit as of December 31, 2014 expire as follows: | |||||||||
Amount | |||||||||
Year of Expiration | (In Thousands) | ||||||||
2015 | $ | 8,932 | |||||||
2016 | 2,183 | ||||||||
2017 | 60 | ||||||||
2019 | 30 | ||||||||
2020 and Thereafter | 2,210 | ||||||||
Total | $ | 13,415 | |||||||
Note_17_Contingencies
Note 17 - Contingencies | 12 Months Ended |
Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 17. CONTINGENCIES |
In the normal course of business, the Corporation is subject to pending and threatened litigation in which claims for monetary damages are asserted. In management’s opinion, the Corporation’s financial position and results of operations would not be materially affected by the outcome of these legal proceedings. |
Note_18_Regulatory_Matters
Note 18 - Regulatory Matters | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | 18. REGULATORY MATTERS | ||||||||||||||||||
The Corporation (on a consolidated basis) and C&N Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and C&N Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. | |||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Corporation and C&N Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). Management believes, as of December 31, 2014 and 2013, that the Corporation and C&N Bank meet all capital adequacy requirements to which they are subject. | |||||||||||||||||||
To be categorized as well capitalized, an institution must maintain minimum total risk based, Tier I risk based and Tier I leverage ratios as set forth in the following table. The Corporation’s and C&N Bank’s actual capital amounts and ratios are also presented in the following table: | |||||||||||||||||||
Minimum To Be Well | |||||||||||||||||||
(Dollars in Thousands) | Minimum | Capitalized Under | |||||||||||||||||
Capital | Prompt Corrective | ||||||||||||||||||
Actual | Requirement | Action Provisions | |||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
December 31, 2014: | |||||||||||||||||||
Total capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | $ | 179,588 | 27.6 | % | $ | 52,051 | >8% | n/a | n/a | ||||||||||
C&N Bank | 156,420 | 24.33 | % | 51,442 | >8% | $ | 64,303 | >10% | |||||||||||
Tier 1 capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | 170,880 | 26.26 | % | 26,026 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 149,055 | 23.18 | % | 25,721 | >4% | 38,582 | >6% | ||||||||||||
Tier 1 capital to average assets: | |||||||||||||||||||
Consolidated | 170,880 | 13.89 | % | 49,224 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 149,055 | 12.22 | % | 48,798 | >4% | 60,998 | >5% | ||||||||||||
December 31, 2013: | |||||||||||||||||||
Total capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | $ | 177,693 | 26.6 | % | $ | 53,449 | >8% | n/a | n/a | ||||||||||
C&N Bank | 162,610 | 24.65 | % | 52,783 | >8% | $ | 65,979 | >10% | |||||||||||
Tier 1 capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | 168,039 | 25.15 | % | 26,724 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 154,323 | 23.39 | % | 26,392 | >4% | 39,588 | >6% | ||||||||||||
Tier 1 capital to average assets: | |||||||||||||||||||
Consolidated | 168,039 | 13.78 | % | 48,783 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 154,323 | 12.77 | % | 48,348 | >4% | 60,435 | >5% | ||||||||||||
Banking regulators limit the amount of dividends that may be paid by C&N Bank to the Corporation. Retained earnings against which dividends may be paid without prior approval of the banking regulators amounted to approximately $84,022,000 at December 31, 2014, subject to the minimum capital ratio requirements noted above. | |||||||||||||||||||
Restrictions imposed by federal law prohibit the Corporation from borrowing from C&N Bank unless the loans are secured in specific amounts. Such secured loans to the Corporation are generally limited to 10% of C&N Bank’s tangible stockholder’s equity (excluding accumulated other comprehensive income) or $15,580,000 at December 31, 2014. |
Note_19_Parent_Company_Only
Note 19 - Parent Company Only | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 19. PARENT COMPANY ONLY | ||||||||||||
The following is condensed financial information for Citizens & Northern Corporation: | |||||||||||||
CONDENSED BALANCE SHEET | December 31, | ||||||||||||
(In Thousands) | 2014 | 2013 | |||||||||||
ASSETS | |||||||||||||
Cash | $ | 9,624 | $ | 2,297 | |||||||||
Investment in subsidiaries: | |||||||||||||
Citizens & Northern Bank | 164,551 | 163,711 | |||||||||||
Citizens & Northern Investment Corporation | 10,822 | 10,216 | |||||||||||
Bucktail Life Insurance Company | 3,336 | 3,254 | |||||||||||
Other assets | 36 | 0 | |||||||||||
TOTAL ASSETS | $ | 188,369 | $ | 179,478 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
Other liabilities | $ | 7 | $ | 6 | |||||||||
Stockholders' equity | 188,362 | 179,472 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 188,369 | $ | 179,478 | |||||||||
CONDENSED INCOME STATEMENT | |||||||||||||
(In Thousands) | 2014 | 2013 | 2012 | ||||||||||
Dividends from Citizens & Northern Bank | $ | 22,608 | $ | 11,108 | $ | 9,245 | |||||||
Expenses | (112 | ) | (108 | ) | (105 | ) | |||||||
Income before equity in undistributed income of subsidiaries | 22,496 | 11,000 | 9,140 | ||||||||||
Equity in undistributed (loss) income of subsidiaries | (5,410 | ) | 7,594 | 13,565 | |||||||||
NET INCOME | $ | 17,086 | $ | 18,594 | $ | 22,705 | |||||||
CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||
(In Thousands) | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||
Net income | $ | 17,086 | $ | 18,594 | $ | 22,705 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed net loss (income) of Subsidiaries | 5,410 | (7,594 | ) | (13,565 | ) | ||||||||
(Increase) decrease in other assets | (36 | ) | 7 | 116 | |||||||||
Increase in other liabilities | 1 | 0 | 6 | ||||||||||
Net Cash Provided by Operating Activities | 22,461 | 11,007 | 9,262 | ||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||
Proceeds from sale of treasury stock | 123 | 184 | 229 | ||||||||||
Tax benefit from compensation plans, net | 137 | 127 | 104 | ||||||||||
Purchase of treasury stock | (4,002 | ) | 0 | 0 | |||||||||
Dividends paid | (11,392 | ) | (10,916 | ) | (9,061 | ) | |||||||
Net Cash Used in Financing Activities | (15,134 | ) | (10,605 | ) | (8,728 | ) | |||||||
INCREASE IN CASH AND CASH EQUIVALENTS | 7,327 | 402 | 534 | ||||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 2,297 | 1,895 | 1,361 | ||||||||||
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 9,624 | $ | 2,297 | $ | 1,895 | |||||||
Note_20_Summary_of_Quarterly_C
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information [Text Block] | 20. SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL DATA (Unaudited) | ||||||||||||||||
The following table presents summarized quarterly financial data for 2014 and 2013: | |||||||||||||||||
2014 Quarter Ended | |||||||||||||||||
Mar. 31, | June 30, | Sept. 30, | Dec. 31, | ||||||||||||||
Interest income | $ | 11,406 | $ | 11,563 | $ | 11,572 | $ | 11,468 | |||||||||
Interest expense | 1,288 | 1,290 | 1,287 | 1,257 | |||||||||||||
Net interest income | 10,118 | 10,273 | 10,285 | 10,211 | |||||||||||||
(Credit) provision for loan losses | (311 | ) | 446 | 218 | 123 | ||||||||||||
Net interest income after (credit) provision for loan losses | 10,429 | 9,827 | 10,067 | 10,088 | |||||||||||||
Other income | 3,751 | 3,980 | 3,887 | 3,802 | |||||||||||||
Net gains on available-for-sale securities | 31 | 103 | 760 | 210 | |||||||||||||
Loss on prepayment of debt | - | - | - | - | |||||||||||||
Other expenses | 8,524 | 8,347 | 9,036 | 8,250 | |||||||||||||
Income before income tax provision | 5,687 | 5,563 | 5,678 | 5,850 | |||||||||||||
Income tax provision | 1,399 | 1,400 | 1,411 | 1,482 | |||||||||||||
Net income available to common shareholders | $ | 4,288 | $ | 4,163 | $ | 4,267 | $ | 4,368 | |||||||||
Net income per share – basic | $ | 0.35 | $ | 0.33 | $ | 0.34 | $ | 0.36 | |||||||||
Net income per share – diluted | $ | 0.34 | $ | 0.33 | $ | 0.34 | $ | 0.35 | |||||||||
2013 Quarter Ended | |||||||||||||||||
Mar. 31, | June 30, | Sept. 30, | Dec. 31, | ||||||||||||||
Interest income | $ | 12,647 | $ | 12,355 | $ | 12,027 | $ | 11,885 | |||||||||
Interest expense | 1,600 | 1,415 | 1,396 | 1,354 | |||||||||||||
Net interest income | 11,047 | 10,940 | 10,631 | 10,531 | |||||||||||||
(Credit) provision for loan losses | 183 | 66 | 239 | 1,559 | |||||||||||||
Net interest income after (credit) provision for loan losses | 10,864 | 10,874 | 10,392 | 8,972 | |||||||||||||
Other income | 3,843 | 4,191 | 4,293 | 4,124 | |||||||||||||
Net gains on available-for-sale securities | 1,159 | 100 | 193 | 266 | |||||||||||||
Loss on prepayment of debt | 1,023 | 0 | 0 | 0 | |||||||||||||
Other expenses | 8,553 | 8,520 | 8,610 | 7,788 | |||||||||||||
Income before income tax provision | 6,290 | 6,645 | 6,268 | 5,574 | |||||||||||||
Income tax provision | 1,584 | 1,671 | 1,579 | 1,349 | |||||||||||||
Net income available to common shareholders | $ | 4,706 | $ | 4,974 | $ | 4,689 | $ | 4,225 | |||||||||
Net income per share – basic | $ | 0.38 | $ | 0.4 | $ | 0.38 | $ | 0.34 | |||||||||
Net income per share – diluted | $ | 0.38 | $ | 0.4 | $ | 0.38 | $ | 0.34 | |||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | BASIS OF CONSOLIDATION - The consolidated financial statements include the accounts of Citizens & Northern Corporation and its subsidiaries, Citizens & Northern Bank (“C&N Bank”), Bucktail Life Insurance Company and Citizens & Northern Investment Corporation (collectively, “Corporation”), as well as C&N Bank’s wholly-owned subsidiary, C&N Financial Services Corporation. All material intercompany balances and transactions have been eliminated in consolidation. |
Nature of Operations [Policy Text Block] | NATURE OF OPERATIONS - The Corporation is primarily engaged in providing a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. Lending products include mortgage loans, commercial loans and consumer loans, as well as specialized instruments such as commercial letters-of-credit. Deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts and certificates of deposit. The Corporation also offers non-insured “RepoSweep” accounts. |
The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services. The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one reportable segment, “Community Banking.” All of the Corporation’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Corporation supports the others. | |
The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities. As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES - The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America. In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates. |
Material estimates that are particularly susceptible to change include: (1) the allowance for loan losses, (2) fair values of debt securities based on estimates from independent valuation services or from brokers, (3) assessment of impaired securities to determine whether or not the securities are other-than-temporarily impaired, (4) valuation of deferred tax assets and (5) valuation of obligations from defined benefit plans. | |
Marketable Securities, Policy [Policy Text Block] | INVESTMENT SECURITIES - Investment securities are accounted for as follows: |
Available-for-sale securities - includes debt securities not classified as held-to-maturity or trading, and unrestricted equity securities. Such securities are reported at fair value, with unrealized gains and losses excluded from earnings and reported separately through accumulated other comprehensive income, net of tax. Amortization of premiums and accretion of discounts on available-for-sale securities are recorded using the level yield method over the remaining contractual life of the securities, adjusted for actual prepayments. Realized gains and losses on sales of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security. Securities within the available-for-sale portfolio may be used as part of the Corporation’s asset and liability management strategy and may be sold in response to changes in interest rate risk, prepayment risk or other factors. | |
Other-than-temporary impairment - Declines in the fair value of available-for-sale securities that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value, and (4) whether the Corporation intends to sell the security or if it is more likely than not that the Corporation will be required to sell the security before the recovery of its amortized cost basis. The credit-related impairment is recognized in earnings and is the difference between a security’s amortized cost basis and the present value of expected future cash flows discounted at the security’s effective interest rate. For debt securities classified as held-to-maturity, if any, the amount of noncredit-related impairment is recognized in other comprehensive income and accreted over the remaining life of the debt security as an increase in the carrying value of the security. In addition, the risk of future other-than-temporary impairment may be influenced by additional bank failures, prolonged recession in the U.S. economy, changes to real estate values, interest deferrals and whether the federal government provides assistance to financial institutions. | |
Restricted equity securities - Restricted equity securities consist primarily of Federal Home Loan Bank of Pittsburgh stock, and are carried at cost and evaluated for impairment. Holdings of restricted equity securities are included in Other Assets in the Consolidated Balance Sheet, and dividends received on restricted securities are included in Other Income in the Consolidated Statement of Income. | |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | LOANS HELD FOR SALE - Mortgage loans held for sale are reported at the lower of cost or market, determined in the aggregate. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | LOANS RECEIVABLE - Loans receivable which management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan fees. Interest income is accrued on the unpaid principal balance. Loan origination and commitment fees, as well as certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. |
The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first and junior lien residential mortgages, home equity lines of credit and residential construction loans. The most significant classes of commercial loans are commercial loans secured by real estate, non-real estate secured commercial and industrial loans, loans to political subdivisions, commercial construction, and loans secured by farmland. | |
Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not recognized on specific impaired loans unless the likelihood of further loss is remote. Interest payments received on loans for which the risk of further loss is greater than remote are applied as a reduction of the loan principal balance. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. Generally, 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. Also, the amortization of deferred loan fees is discontinued when a loan is placed on nonaccrual status. | |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ALLOWANCE FOR LOAN LOSSES - The allowance for loan losses represents management’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 uncollectible 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. Non-residential consumer loans are generally charged off no later than when they are 120 days past due on a contractual basis, or earlier in the event of bankruptcy or if there is an amount deemed uncollectible. |
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management 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. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses. Such agencies may require the Corporation to recognize adjustments to the allowance based on their judgments of information available to them at the time of their examination. In the process of evaluating the loan portfolio, management also considers the Corporation’s exposure to losses from unfunded loan commitments. As of December 31, 2014 and 2013, management determined that no allowance for credit losses related to unfunded loan commitments was required. | |
The allowance consists primarily of two major components – (1) a specific component based on a detailed assessment of certain larger loan relationships, mainly commercial purpose, determined on a loan-by-loan basis; and (2) a general component for the remainder of the portfolio based on a collective evaluation of pools of loans with similar risk characteristics. The general component is assigned to each pool of loans based on both historical net charge-off experience, and an evaluation of certain qualitative factors. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the above methodologies for estimating specific and general losses in the portfolio. | |
The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee. Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of 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 individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not separately identify individual consumer and residential loans for impairment disclosures, unless such loans are subject to a restructuring agreement. The pools of loans for each loan segment are evaluated for loss exposure based upon average historical net charge-off rates (currently thirty-six months), adjusted for qualitative factors. Qualitative risk factors (described in the following paragraph) are evaluated for the impact on each of the three distinct segments (residential mortgage, commercial and consumer) within the loan portfolio. Each qualitative factor is assigned a value to reflect improving, stable or declining conditions based on management’s judgment using relevant information available at the time of the evaluation. Any adjustments to the factors are supported by a narrative documentation of changes in conditions accompanying the allowance for loan loss calculation. | |
The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment. The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 67% at December 31, 2014) are secured by real estate, and accordingly, the Corporation’s risk for the commercial segment is significantly affected by commercial real estate values. The consumer segment includes a wide mix of loans for different purposes, primarily secured loans, including loans secured by motor vehicles, manufactured housing and other types of collateral. | |
Loans are classified as 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 by management in determining impairment include payment status, collateral value 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. Management 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 shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by the fair value of the collateral (if the loan is collateral dependent), by future cash flows discounted at the loan’s effective rate or by the loan’s observable market price. | |
For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. 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 original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. | |
For commercial and industrial 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 agings 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. | |
Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Non-accrual troubled debt restructurings may be restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive months after modification. Loans classified as troubled debt restructurings are designated as impaired. | |
Property, Plant and Equipment, Policy [Policy Text Block] | BANK PREMISES AND EQUIPMENT - Bank premises and equipment are stated at cost less accumulated depreciation. Repair and maintenance expenditures which extend the useful lives of assets are capitalized, and other repair and maintenance expenditures are expensed as incurred. Depreciation expense is computed using the straight-line method. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS - The Corporation reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. These changes in circumstances may include a significant decrease in the market value of an asset or the manner in which an asset is used. If there is an indication the carrying value of an asset may not be recoverable, future undiscounted cash flows expected to result from use of the asset are estimated. If the sum of the expected cash flows is less than the carrying value of the asset, a loss is recognized for the difference between the carrying value and fair market value of the asset. |
Interest Expense, Policy [Policy Text Block] | INTEREST COSTS - The Corporation capitalizes interest as a component of the cost of premises and equipment constructed or acquired for its own use. The amount of capitalized interest in 2014, 2013, and 2012 was not significant. |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | FORECLOSED ASSETS HELD FOR SALE - Foreclosed assets held for sale consist of real estate acquired by foreclosure and are initially recorded at fair value, less estimated selling costs. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS- Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may be impairment. Core deposit intangibles are being amortized over periods of time that represent the expected lives using a method of amortization that reflects the pattern of economic benefit. Core deposit intangibles are subject to impairment testing whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | SERVICING RIGHTS - The estimated fair value of servicing rights related to mortgage loans sold and serviced by the Corporation is recorded as an asset upon the sale of such loans. The valuation of servicing rights is adjusted quarterly, with changes in fair value included in Other Operating Income in the consolidated statements of operations. Significant inputs to the valuation include expected net servicing income to be received, the expected life of the underlying loans and the discount rate. The servicing rights asset is included in Other Assets in the consolidated balance sheet, with a balance equal to fair value of $1,281,000 at December 31, 2014 and $1,123,000 at December 31, 2013. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence. Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no accrued interest related to unrecognized tax benefits. |
Compensation Related Costs, Policy [Policy Text Block] | STOCK COMPENSATION PLANS - The Corporation’s stock-based compensation policy applies to all forms of stock-based compensation including stock options and restricted stock units. All stock-based compensation is accounted for under the fair value method as required by generally accepted accounting principles in the United States. The expense associated with stock-based compensation is recognized over the vesting period of each individual arrangement. |
The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of restricted stock is based on the current market price on the date of grant. | |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - In the ordinary course of business, the Corporation has entered into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH FLOWS - The Corporation utilizes the net reporting of cash receipts and cash payments for certain deposit and lending activities. Cash equivalents include federal funds sold and all cash and amounts due from depository institutions and interest-bearing deposits in other banks with original maturities of three months or less. |
Trust Assets and Income [Policy Text Block] | TRUST ASSETS AND INCOME - Assets held by the Corporation in a fiduciary or agency capacity for its customers are not included in the financial statements since such items are not assets of the Corporation. Trust income is recorded on a cash basis, which is not materially different from the accrual basis. |
Note_3_Comprehensive_Income_Ta
Note 3 - Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Comprehensive Income (Loss) [Table Text Block] | (In Thousands) | Before-Tax | Income Tax | Net-of-Tax | |||||||||
Amount | Effect | Amount | |||||||||||
2014 | |||||||||||||
Unrealized gains on available-for-sale securities: | |||||||||||||
Unrealized holding gains on available-for-sale securities | $ | 10,774 | $ | (3,771 | ) | $ | 7,003 | ||||||
Reclassification adjustment for (gains) realized in income | (1,104 | ) | 386 | (718 | ) | ||||||||
Other comprehensive income on available-for-sale securities | 9,670 | (3,385 | ) | 6,285 | |||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | (79 | ) | 28 | (51 | ) | ||||||||
Amortization of net transition obligation, prior service cost, net actuarial loss and loss on settlement included in net periodic benefit cost | 184 | (65 | ) | 119 | |||||||||
Other comprehensive income on unfunded retirement obligations | 105 | (37 | ) | 68 | |||||||||
Total other comprehensive income | $ | 9,775 | $ | (3,422 | ) | $ | 6,353 | ||||||
(In Thousands) | Before-Tax | Income Tax | Net-of-Tax | ||||||||||
Amount | Effect | Amount | |||||||||||
2013 | |||||||||||||
Unrealized losses gains on available-for-sale securities: | |||||||||||||
Unrealized holding losses on available-for-sale securities | $ | (17,623 | ) | $ | 6,168 | $ | (11,455 | ) | |||||
Reclassification adjustment for (gains) realized in income | (1,718 | ) | 601 | (1,117 | ) | ||||||||
Other comprehensive loss on available-for-sale securities | (19,341 | ) | 6,769 | (12,572 | ) | ||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | 885 | (310 | ) | 575 | |||||||||
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost | 2 | (1 | ) | 1 | |||||||||
Other comprehensive incomeon unfunded retirement obligations | 887 | (311 | ) | 576 | |||||||||
Total other comprehensive loss | $ | (18,454 | ) | $ | 6,458 | $ | (11,996 | ) | |||||
(In Thousands) | Before-Tax | Income Tax | Net-of-Tax | ||||||||||
Amount | Effect | Amount | |||||||||||
2012 | |||||||||||||
Unrealized gains on available-for-sale securities: | |||||||||||||
Unrealized holding gains on available-for-sale securities | $ | 4,128 | $ | (1,608 | ) | $ | 2,520 | ||||||
Reclassification adjustment for (gains) realized in income | (2,682 | ) | 939 | (1,743 | ) | ||||||||
Other comprehensive gain on available-for-sale securities | 1,446 | (669 | ) | 777 | |||||||||
Unfunded pension and postretirement obligations: | |||||||||||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income | 8 | (2 | ) | 6 | |||||||||
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost | 77 | (17 | ) | 60 | |||||||||
Other comprehensive gain on unfunded retirement obligations | 85 | (19 | ) | 66 | |||||||||
Total other comprehensive income | $ | 1,531 | $ | (688 | ) | $ | 843 | ||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (In Thousands) | Unrealized | Unfunded | Accumulated | |||||||||
Holding Gains | Pension and | Other | |||||||||||
(Losses) | Postretirement | Comprehensive | |||||||||||
on Securities | Obligations | Income (Loss) | |||||||||||
2014 | |||||||||||||
Balance, beginning of period | $ | (1,004 | ) | $ | 11 | $ | (993 | ) | |||||
Other comprehensive income before reclassifications | 7,003 | (51 | ) | 6,952 | |||||||||
Amounts reclassified from accumulated other comprehensive income | (718 | ) | 119 | (599 | ) | ||||||||
Other comprehensive income | 6,285 | 68 | 6,353 | ||||||||||
Balance, end of period | $ | 5,281 | $ | 79 | $ | 5,360 | |||||||
2013 | |||||||||||||
Balance, beginning of period | $ | 11,568 | $ | (565 | ) | $ | 11,003 | ||||||
Other comprehensive (loss) income before reclassifications | (11,455 | ) | 575 | (10,880 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive loss | (1,117 | ) | 1 | (1,116 | ) | ||||||||
Other comprehensive (loss) income | (12,572 | ) | 576 | (11,996 | ) | ||||||||
Balance, end of period | $ | (1,004 | ) | $ | 11 | $ | (993 | ) | |||||
2012 | |||||||||||||
Balance, beginning of period | $ | 10,791 | $ | (631 | ) | $ | 10,160 | ||||||
Other comprehensive income before reclassifications | 2,520 | 6 | 2,526 | ||||||||||
Amounts reclassified from accumulated other comprehensive income | (1,743 | ) | 60 | (1,683 | ) | ||||||||
Other comprehensive income | 777 | 66 | 843 | ||||||||||
Balance, end of period | $ | 11,568 | $ | (565 | ) | $ | 11,003 | ||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Year Ended December 31, 2014 | ||||||||||||
(In Thousands) | |||||||||||||
Details about Accumulated Other | Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Comprehensive Income Components | Accumulated Other | Statements of Income | |||||||||||
Comprehensive Income | |||||||||||||
Unrealized gains and losses on available-for-sale Securities | $ | (1,104 | ) | Realized gains on available-for-sale securities, net | |||||||||
386 | Income tax provision | ||||||||||||
(718 | ) | Net of tax | |||||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||||
Prior service cost | (31 | ) | Pensions and other employee benefits | ||||||||||
Actuarial loss | 19 | Pensions and other employee benefits | |||||||||||
Loss on settlement | 196 | Pensions and other employee benefits | |||||||||||
184 | Total before tax | ||||||||||||
(65 | ) | Income tax provision | |||||||||||
119 | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (599 | ) | ||||||||||
For the Year Ended December 31, 2013 | |||||||||||||
(In Thousands) | |||||||||||||
Details about Accumulated Other | Reclassified from | Affected Line Item in the Consolidated | |||||||||||
Comprehensive Income Components | Accumulated Other | Statements of Income | |||||||||||
Comprehensive Income | |||||||||||||
Unrealized gains and losses on available-for-sale Securities | $ | 25 | Total other-than-temporary impairment losses on | ||||||||||
available-for-sale securities | |||||||||||||
(1,743 | ) | Realized gains on available-for-sale securities, net | |||||||||||
(1,718 | ) | Total before tax | |||||||||||
601 | Income tax provision | ||||||||||||
(1,117 | ) | Net of tax | |||||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||||
Prior service cost | (31 | ) | Pensions and other employee benefits | ||||||||||
Actuarial loss | 33 | Pensions and other employee benefits | |||||||||||
2 | Total before tax | ||||||||||||
(1 | ) | Income tax provision | |||||||||||
1 | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (1,116 | ) |
Note_4_Per_Share_Data_Tables
Note 4 - Per Share Data (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Weighted- | ||||||||||||
Average | Earnings | ||||||||||||
Net | Common | Per | |||||||||||
Income | Shares | Share | |||||||||||
2014 | |||||||||||||
Earnings per share – basic | $ | 17,086,000 | 12,390,067 | $ | 1.38 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 224,015 | ||||||||||||
Hypothetical share repurchase at $19.41 | (202,032 | ) | |||||||||||
Earnings per share – diluted | $ | 17,086,000 | 12,412,050 | $ | 1.38 | ||||||||
2013 | |||||||||||||
Earnings per share – basic | $ | 18,594,000 | 12,352,383 | $ | 1.51 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 250,236 | ||||||||||||
Hypothetical share repurchase at $19.86 | (219,829 | ) | |||||||||||
Earnings per share – diluted | $ | 18,594,000 | 12,382,790 | $ | 1.5 | ||||||||
2012 | |||||||||||||
Earnings per share – basic | $ | 22,705,000 | 12,235,748 | $ | 1.86 | ||||||||
Dilutive effect of potential common stock arising from stock options: | |||||||||||||
Exercise of outstanding stock options | 200,589 | ||||||||||||
Hypothetical share repurchase at $19.16 | (176,129 | ) | |||||||||||
Earnings per share – diluted | $ | 22,705,000 | 12,260,208 | $ | 1.85 |
Note_5_Cash_and_Due_from_Banks1
Note 5 - Cash and Due from Banks (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Schedule of Cash and Cash Equivalents [Table Text Block] | (In thousands) | Dec. 31, | Dec. 31, | ||||||
2014 | 2013 | ||||||||
Cash and cash equivalents | $ | 31,619 | $ | 38,591 | |||||
Certificates of deposit | 4,428 | 6,028 | |||||||
Total cash and due from banks | $ | 36,047 | $ | 44,619 |
Note_6_Fair_Value_Measurements1
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) [Line Items] | ||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | 31-Dec-14 | |||||||||||||||||
Quoted Prices | Other | |||||||||||||||||
in Active | Observable | Unobservable | Total | |||||||||||||||
Markets | Inputs | Inputs | Fair | |||||||||||||||
(In Thousands) | (Level 1) | (Level 2) | (Level 3) | Value | ||||||||||||||
Recurring fair value measurements | ||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES: | ||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 26,676 | $ | 0 | $ | 26,676 | ||||||||||
Obligations of states and political subdivisions: | ||||||||||||||||||
Tax-exempt | 0 | 124,839 | 0 | 124,839 | ||||||||||||||
Taxable | 0 | 33,878 | 0 | 33,878 | ||||||||||||||
Mortgage-backed securities | 0 | 83,903 | 0 | 83,903 | ||||||||||||||
Collateralized mortgage obligations, | ||||||||||||||||||
Issued by U.S. Government agencies | 0 | 238,823 | 0 | 238,823 | ||||||||||||||
Collateralized debt obligations | 0 | 34 | 0 | 34 | ||||||||||||||
Total debt securities | 0 | 508,153 | 0 | 508,153 | ||||||||||||||
Marketable equity securities | 8,654 | 0 | 0 | 8,654 | ||||||||||||||
Total available-for-sale securities | 8,654 | 508,153 | 0 | 516,807 | ||||||||||||||
Servicing rights | 0 | 0 | 1,281 | 1,281 | ||||||||||||||
Total recurring fair value measurements | $ | 8,654 | $ | 508,153 | $ | 1,281 | $ | 518,088 | ||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||
Impaired loans with a valuation allowance | $ | 0 | $ | 0 | $ | 3,241 | $ | 3,241 | ||||||||||
Valuation allowance | 0 | 0 | (769 | ) | (769 | ) | ||||||||||||
Impaired loans, net | 0 | 0 | 2,472 | 2,472 | ||||||||||||||
Foreclosed assets held for sale | 0 | 0 | 1,189 | 1,189 | ||||||||||||||
Total nonrecurring fair value measurements | $ | 0 | $ | 0 | $ | 3,661 | $ | 3,661 | ||||||||||
31-Dec-13 | ||||||||||||||||||
Quoted Prices | Other | |||||||||||||||||
in Active | Observable | Unobservable | Total | |||||||||||||||
Markets | Inputs | Inputs | Fair | |||||||||||||||
(In Thousands) | (Level 1) | (Level 2) | (Level 3) | Value | ||||||||||||||
Recurring fair value measurements | ||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES: | ||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 45,877 | $ | 0 | $ | 45,877 | ||||||||||
Obligations of states and political subdivisions: | ||||||||||||||||||
Tax-exempt | 0 | 128,426 | 0 | 128,426 | ||||||||||||||
Taxable | 0 | 34,471 | 0 | 34,471 | ||||||||||||||
Mortgage-backed securities | 0 | 86,208 | 0 | 86,208 | ||||||||||||||
Collateralized mortgage obligations, | ||||||||||||||||||
Issued by U.S. Government agencies | 0 | 178,092 | 0 | 178,092 | ||||||||||||||
Collateralized debt obligations | 0 | 660 | 0 | 660 | ||||||||||||||
Total debt securities | 0 | 473,734 | 0 | 473,734 | ||||||||||||||
Marketable equity securities | 8,924 | 0 | 0 | 8,924 | ||||||||||||||
Total available-for-sale securities | 8,924 | 473,734 | 0 | 482,658 | ||||||||||||||
Servicing rights | 0 | 0 | 1,123 | 1,123 | ||||||||||||||
Total recurring fair value measurements | $ | 8,924 | $ | 473,734 | $ | 1,123 | $ | 483,781 | ||||||||||
Nonrecurring fair value measurements | ||||||||||||||||||
Impaired loans with a valuation allowance | $ | 0 | $ | 0 | $ | 9,889 | $ | 9,889 | ||||||||||
Valuation allowance | 0 | 0 | (2,333 | ) | (2,333 | ) | ||||||||||||
Impaired loans, net | 0 | 0 | 7,556 | 7,556 | ||||||||||||||
Foreclosed assets held for sale | 0 | 0 | 892 | 892 | ||||||||||||||
Total nonrecurring fair value measurements | $ | 0 | $ | 0 | $ | 8,448 | $ | 8,448 | ||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value at | |||||||||||||||||
12/31/14 | Valuation | Unobservable | Method or Value As of | |||||||||||||||
(In Thousands) | Technique | Input(s) | 12/31/14 | |||||||||||||||
Asset | ||||||||||||||||||
Servicing rights | $ | 1,281 | Discounted cash flow | Discount rate | 10 | % | Rate used through modeling period | |||||||||||
Loan prepayment speeds | 156 | % | Weighted-average PSA | |||||||||||||||
Servicing fees | 0.25 | % | of loan balances | |||||||||||||||
4 | % | of payments are late | ||||||||||||||||
5 | % | late fees assessed | ||||||||||||||||
$ | 1.94 | Miscellaneous fees per account per month | ||||||||||||||||
Servicing costs | $ | 6 | Monthly servicing cost per account | |||||||||||||||
$ | 24 | Additional monthly servicing cost per loan on loans more than 30 days delinquent | ||||||||||||||||
1.5 | % | of loans more than 30 days delinquent | ||||||||||||||||
3 | % | annual increase in servicing costs | ||||||||||||||||
Fair Value at | ||||||||||||||||||
12/31/13 | Valuation | Unobservable | Method or Value As of | |||||||||||||||
(In Thousands) | Technique | Input(s) | 12/31/13 | |||||||||||||||
Asset | ||||||||||||||||||
Servicing rights | $ | 1,123 | Discounted cash flow | Discount rate | 12 | % | Rate used through modeling period | |||||||||||
Loan prepayment speeds | 152 | % | Weighted-average PSA | |||||||||||||||
Servicing fees | 0.25 | % | of loan balances | |||||||||||||||
4 | % | of payments are late | ||||||||||||||||
5 | % | late fees assessed | ||||||||||||||||
$ | 1.94 | Miscellaneous fees per account per month | ||||||||||||||||
Servicing costs | $ | 6 | Monthly servicing cost per account | |||||||||||||||
$ | 24 | Additional monthly servicing cost per loan on loans more than 30 days delinquent | ||||||||||||||||
1.5 | % | of loans more than 30 days delinquent | ||||||||||||||||
3 | % | annual increase in servicing costs | ||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (In Thousands) | Valuation | 31-Dec-14 | 31-Dec-13 | ||||||||||||||
Method(s) | Carrying | Fair | Carrying | Fair | ||||||||||||||
Used | Amount | Value | Amount | Value | ||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 31,619 | $ | 31,619 | $ | 38,591 | $ | 38,591 | |||||||||
Certificates of deposit | Level 2 | 4,428 | 4,443 | 6,028 | 6,057 | |||||||||||||
Available-for-sale securities | See Above | 516,807 | 516,807 | 482,658 | 482,658 | |||||||||||||
Restricted equity securities (included in Other Assets) | Level 2 | 1,584 | 1,584 | 3,786 | 3,786 | |||||||||||||
Loans held for sale | Level 2 | 0 | 0 | 54 | 54 | |||||||||||||
Loans, net | Level 3 | 623,209 | 629,267 | 635,640 | 634,937 | |||||||||||||
Accrued interest receivable | Level 2 | 3,908 | 3,908 | 4,146 | 4,146 | |||||||||||||
Servicing rights | Level 3 | 1,281 | 1,281 | 1,123 | 1,123 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits with no stated maturity | Level 2 | 729,052 | 729,052 | 693,479 | 693,479 | |||||||||||||
Time deposits | Level 2 | 238,937 | 239,712 | 261,037 | 262,376 | |||||||||||||
Short-term borrowings | Level 2 | 5,537 | 5,473 | 23,385 | 23,356 | |||||||||||||
Long-term borrowings | Level 2 | 73,060 | 78,866 | 73,338 | 79,400 | |||||||||||||
Accrued interest payable | Level 2 | 104 | 104 | 120 | 120 | |||||||||||||
Reporting Period 2014 [Member] | ||||||||||||||||||
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) [Line Items] | ||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Year Ended | |||||||||||||||||
31-Dec-14 | ||||||||||||||||||
(In Thousands) | Servicing | |||||||||||||||||
Rights | ||||||||||||||||||
Balance, beginning of period | $ | 1,123 | ||||||||||||||||
Issuances of servicing rights | 185 | |||||||||||||||||
Unrealized losses included in earnings | (27 | ) | ||||||||||||||||
Balance, end of period | $ | 1,281 | ||||||||||||||||
Reporting Period 2013 [Member] | ||||||||||||||||||
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) [Line Items] | ||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Year Ended December 31, 2013 | |||||||||||||||||
Pooled Trust | Pooled Trust | |||||||||||||||||
Preferred | Preferred | |||||||||||||||||
Securities - | Securities - | |||||||||||||||||
(In Thousands) | Senior | Mezzanine | Servicing | |||||||||||||||
Tranches | Tranches | Rights | Total | |||||||||||||||
Balance, beginning of period | $ | 1,613 | $ | 0 | $ | 605 | $ | 2,218 | ||||||||||
Issuances of servicing rights | 0 | 0 | 451 | 451 | ||||||||||||||
Accretion and amortization, net | (2 | ) | 0 | 0 | (2 | ) | ||||||||||||
Proceeds from sales and calls | (1,636 | ) | (571 | ) | 0 | (2,207 | ) | |||||||||||
Realized gains, net | 23 | 571 | 0 | 594 | ||||||||||||||
Unrealized gains included in earnings | 0 | 0 | 67 | 67 | ||||||||||||||
Unrealized gains included in other comprehensive income | 2 | 0 | 0 | 2 | ||||||||||||||
Balance, end of period | $ | 0 | $ | 0 | $ | 1,123 | $ | 1,123 | ||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||
Pooled Trust | Pooled Trust | |||||||||||||||||
Preferred | Preferred | |||||||||||||||||
Securities - | Securities - | |||||||||||||||||
Senior | Mezzanine | Servicing | ||||||||||||||||
Tranches | Tranches | Rights | Total | |||||||||||||||
Balance, beginning of period | $ | 4,638 | $ | 730 | $ | 375 | $ | 5,743 | ||||||||||
Issuances of servicing rights | 0 | 0 | 418 | 418 | ||||||||||||||
Accretion and amortization, net | (8 | ) | 0 | 0 | (8 | ) | ||||||||||||
Proceeds from sales and calls | (3,429 | ) | (1,835 | ) | 0 | (5,264 | ) | |||||||||||
Realized gains, net | 56 | 1,835 | 0 | 1,891 | ||||||||||||||
Unrealized losses included in earnings | 0 | 0 | (188 | ) | (188 | ) | ||||||||||||
Unrealized gains (losses) included in other comprehensive income | 356 | (730 | ) | 0 | (374 | ) | ||||||||||||
Balance, end of period | $ | 1,613 | $ | 0 | $ | 605 | $ | 2,218 |
Note_7_Securities_Tables
Note 7 - Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Amortized | Holding | Holding | Fair | ||||||||||||||||||||||
(In Thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 27,221 | $ | 38 | $ | (583 | ) | $ | 26,676 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 120,086 | 5,134 | (381 | ) | 124,839 | ||||||||||||||||||||
Taxable | 33,637 | 415 | (174 | ) | 33,878 | ||||||||||||||||||||
Mortgage-backed securities | 82,479 | 1,493 | (69 | ) | 83,903 | ||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 239,620 | 1,239 | (2,036 | ) | 238,823 | ||||||||||||||||||||
Collateralized debt obligations: | 34 | 0 | 0 | 34 | |||||||||||||||||||||
Total debt securities | 503,077 | 8,319 | (3,243 | ) | 508,153 | ||||||||||||||||||||
Marketable equity securities | 5,605 | 3,058 | (9 | ) | 8,654 | ||||||||||||||||||||
Total | $ | 508,682 | $ | 11,377 | $ | (3,252 | ) | $ | 516,807 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Unrealized | Unrealized | ||||||||||||||||||||||||
Amortized | Holding | Holding | Fair | ||||||||||||||||||||||
(In Thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 47,382 | $ | 282 | $ | (1,787 | ) | $ | 45,877 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 127,748 | 2,766 | (2,088 | ) | 128,426 | ||||||||||||||||||||
Taxable | 35,154 | 206 | (889 | ) | 34,471 | ||||||||||||||||||||
Mortgage-backed securities | 84,849 | 1,819 | (460 | ) | 86,208 | ||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 182,372 | 761 | (5,041 | ) | 178,092 | ||||||||||||||||||||
Collateralized debt obligations: | 660 | 0 | 0 | 660 | |||||||||||||||||||||
Total debt securities | 478,165 | 5,834 | (10,265 | ) | 473,734 | ||||||||||||||||||||
Marketable equity securities | 6,038 | 2,886 | 0 | 8,924 | |||||||||||||||||||||
Total | $ | 484,203 | $ | 8,720 | $ | (10,265 | ) | $ | 482,658 | ||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | 31-Dec-14 | Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||
(In Thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 0 | $ | 0 | $ | 24,020 | $ | (583 | ) | $ | 24,020 | $ | (583 | ) | |||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 11,898 | (289 | ) | 6,991 | (92 | ) | 18,889 | (381 | ) | ||||||||||||||||
Taxable | 4,240 | (22 | ) | 9,159 | (152 | ) | 13,399 | (174 | ) | ||||||||||||||||
Mortgage-backed securities | 0 | 0 | 4,160 | (69 | ) | 4,160 | (69 | ) | |||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 58,812 | (396 | ) | 60,897 | (1,640 | ) | 119,709 | (2,036 | ) | ||||||||||||||||
Total debt securities | 74,950 | (707 | ) | 105,227 | (2,536 | ) | 180,177 | (3,243 | ) | ||||||||||||||||
Marketable equity securities | 134 | (9 | ) | 0 | 0 | 134 | (9 | ) | |||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 75,084 | $ | (716 | ) | $ | 105,227 | $ | (2,536 | ) | $ | 180,311 | $ | (3,252 | ) | ||||||||||
31-Dec-13 | Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
(In Thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. Government agencies | $ | 22,489 | $ | (1,337 | ) | $ | 4,598 | $ | (450 | ) | $ | 27,087 | $ | (1,787 | ) | ||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Tax-exempt | 44,285 | (1,425 | ) | 5,808 | (663 | ) | 50,093 | (2,088 | ) | ||||||||||||||||
Taxable | 20,873 | (766 | ) | 2,378 | (123 | ) | 23,251 | (889 | ) | ||||||||||||||||
Mortgage-backed securities | 34,377 | (460 | ) | 0 | 0 | 34,377 | (460 | ) | |||||||||||||||||
Collateralized debt obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 113,204 | (4,608 | ) | 7,399 | (433 | ) | 120,603 | (5,041 | ) | ||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 235,228 | $ | (8,596 | ) | $ | 20,183 | $ | (1,669 | ) | $ | 255,411 | $ | (10,265 | ) | ||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | (In Thousands) | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Gross realized gains from sales | $ | 1,328 | $ | 1,918 | $ | 2,798 | |||||||||||||||||||
Gross realized losses from sales | (224 | ) | (175 | ) | (49 | ) | |||||||||||||||||||
Losses from OTTI Impairment | 0 | (25 | ) | (67 | ) | ||||||||||||||||||||
Net realized gains | $ | 1,104 | $ | 1,718 | $ | 2,682 | |||||||||||||||||||
Income tax provision related to net realized gains | $ | 386 | $ | 601 | $ | 939 | |||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized | Fair | |||||||||||||||||||||||
(In Thousands) | Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 7,909 | $ | 7,992 | |||||||||||||||||||||
Due from one year through five years | 55,499 | 55,826 | |||||||||||||||||||||||
Due from five years through ten years | 61,737 | 62,306 | |||||||||||||||||||||||
Due after ten years | 55,833 | 59,303 | |||||||||||||||||||||||
Subtotal | 180,978 | 185,427 | |||||||||||||||||||||||
Mortgage-backed securities | 82,479 | 83,903 | |||||||||||||||||||||||
Collateralized mortgage obligations, | |||||||||||||||||||||||||
Issued by U.S. Government agencies | 239,620 | 238,823 | |||||||||||||||||||||||
Total | $ | 503,077 | $ | 508,153 | |||||||||||||||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (In Thousands) | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Marketable equity securities (bank stocks) | $ | 0 | $ | (25 | ) | $ | (67 | ) |
Note_8_Loans_Tables
Note 8 - Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Note 8 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Summary of Loans by Type | ||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 291,882 | $ | 299,831 | |||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 21,166 | 23,040 | |||||||||||||||||||||||||||||||
Home equity lines of credit | 36,629 | 34,530 | |||||||||||||||||||||||||||||||
1-4 Family residential construction | 16,739 | 13,909 | |||||||||||||||||||||||||||||||
Total residential mortgage | 366,416 | 371,310 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 145,878 | 147,215 | |||||||||||||||||||||||||||||||
Commercial and industrial | 50,157 | 42,387 | |||||||||||||||||||||||||||||||
Political subdivisions | 17,534 | 16,291 | |||||||||||||||||||||||||||||||
Commercial construction and land | 6,938 | 17,003 | |||||||||||||||||||||||||||||||
Loans secured by farmland | 7,916 | 10,468 | |||||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,917 | 10,985 | |||||||||||||||||||||||||||||||
Agricultural loans | 3,221 | 3,251 | |||||||||||||||||||||||||||||||
Other commercial loans | 13,334 | 14,631 | |||||||||||||||||||||||||||||||
Total commercial | 253,895 | 262,231 | |||||||||||||||||||||||||||||||
Consumer | 10,234 | 10,762 | |||||||||||||||||||||||||||||||
Total | 630,545 | 644,303 | |||||||||||||||||||||||||||||||
Less: allowance for loan losses | (7,336 | ) | (8,663 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 623,209 | $ | 635,640 | |||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Year Ended December 31, 2014 | Dec. 31, | Dec. 31, | ||||||||||||||||||||||||||||||
(In Thousands) | 2013 | Charge-offs | Recoveries | Provision (Credit) | 2014 | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,974 | $ | (164 | ) | $ | 25 | $ | 106 | $ | 2,941 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 294 | (101 | ) | 0 | (17 | ) | 176 | ||||||||||||||||||||||||||
Home equity lines of credit | 269 | (62 | ) | 0 | 115 | 322 | |||||||||||||||||||||||||||
1-4 Family residential construction | 168 | 0 | 0 | 46 | 214 | ||||||||||||||||||||||||||||
Total residential mortgage | 3,705 | (327 | ) | 25 | 250 | 3,653 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 3,123 | (1,521 | ) | 250 | (94 | ) | 1,758 | ||||||||||||||||||||||||||
Commercial and industrial | 591 | (24 | ) | 9 | 112 | 688 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 267 | (170 | ) | 5 | 181 | 283 | |||||||||||||||||||||||||||
Loans secured by farmland | 115 | 0 | 0 | 50 | 165 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 103 | 0 | 0 | (16 | ) | 87 | |||||||||||||||||||||||||||
Agricultural loans | 30 | 0 | 0 | 1 | 31 | ||||||||||||||||||||||||||||
Other commercial loans | 138 | 0 | 0 | (7 | ) | 131 | |||||||||||||||||||||||||||
Total commercial | 4,367 | (1,715 | ) | 264 | 227 | 3,143 | |||||||||||||||||||||||||||
Consumer | 193 | (97 | ) | 47 | 2 | 145 | |||||||||||||||||||||||||||
Unallocated | 398 | 0 | 0 | (3 | ) | 395 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 8,663 | $ | (2,139 | ) | $ | 336 | $ | 476 | $ | 7,336 | ||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2012 | Provision | 2013 | |||||||||||||||||||||||||||||||
Balance | Charge-offs | Recoveries | (Credit) | Balance | |||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,619 | $ | (84 | ) | $ | 24 | $ | 415 | $ | 2,974 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 247 | 0 | 0 | 47 | 294 | ||||||||||||||||||||||||||||
Home equity lines of credit | 255 | 0 | 0 | 14 | 269 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 96 | (11 | ) | 0 | 83 | 168 | |||||||||||||||||||||||||||
Total residential mortgage | 3,217 | (95 | ) | 24 | 559 | 3,705 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 1,930 | (169 | ) | 344 | 1,018 | 3,123 | |||||||||||||||||||||||||||
Commercial and industrial | 581 | (286 | ) | 4 | 292 | 591 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 234 | (4 | ) | 0 | 37 | 267 | |||||||||||||||||||||||||||
Loans secured by farmland | 129 | 0 | 0 | (14 | ) | 115 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 67 | 0 | 0 | 36 | 103 | ||||||||||||||||||||||||||||
Agricultural loans | 27 | 0 | 0 | 3 | 30 | ||||||||||||||||||||||||||||
Other commercial loans | 3 | 0 | 0 | 135 | 138 | ||||||||||||||||||||||||||||
Total commercial | 2,971 | (459 | ) | 348 | 1,507 | 4,367 | |||||||||||||||||||||||||||
Consumer | 228 | (117 | ) | 58 | 24 | 193 | |||||||||||||||||||||||||||
Unallocated | 441 | 0 | 0 | (43 | ) | 398 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 6,857 | $ | (671 | ) | $ | 430 | $ | 2,047 | $ | 8,663 | ||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||||||||||||||||||||||||||
2011 | Provision | 2012 | |||||||||||||||||||||||||||||||
Balance | Charge-offs | Recoveries | (Credit) | Balance | |||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 3,026 | $ | (543 | ) | $ | 18 | $ | 118 | $ | 2,619 | ||||||||||||||||||||||
Residential mortgage loans - junior liens | 266 | (9 | ) | 0 | (10 | ) | 247 | ||||||||||||||||||||||||||
Home equity lines of credit | 231 | 0 | 0 | 24 | 255 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 79 | 0 | 0 | 17 | 96 | ||||||||||||||||||||||||||||
Total residential mortgage | 3,602 | (552 | ) | 18 | 149 | 3,217 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2,004 | 0 | 1 | (75 | ) | 1,930 | |||||||||||||||||||||||||||
Commercial and industrial | 946 | (57 | ) | 7 | (315 | ) | 581 | ||||||||||||||||||||||||||
Political subdivisions | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Commercial construction and land | 267 | (441 | ) | 0 | 408 | 234 | |||||||||||||||||||||||||||
Loans secured by farmland | 126 | 0 | 0 | 3 | 129 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 66 | 0 | 0 | 1 | 67 | ||||||||||||||||||||||||||||
Agricultural loans | 27 | 0 | 0 | 0 | 27 | ||||||||||||||||||||||||||||
Other commercial loans | 5 | 0 | 0 | (2 | ) | 3 | |||||||||||||||||||||||||||
Total commercial | 3,441 | (498 | ) | 8 | 20 | 2,971 | |||||||||||||||||||||||||||
Consumer | 228 | (171 | ) | 59 | 112 | 228 | |||||||||||||||||||||||||||
Unallocated | 434 | 0 | 0 | 7 | 441 | ||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 7,705 | $ | (1,221 | ) | $ | 85 | $ | 288 | $ | 6,857 | ||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||||||||||
(In Thousands) | Special | ||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Residential Mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 280,094 | $ | 1,246 | $ | 10,464 | $ | 78 | $ | 291,882 | |||||||||||||||||||||||
Residential mortgage loans - junior liens | 20,502 | 112 | 552 | 0 | 21,166 | ||||||||||||||||||||||||||||
Home equity lines of credit | 35,935 | 294 | 400 | 0 | 36,629 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 16,719 | 20 | 0 | 0 | 16,739 | ||||||||||||||||||||||||||||
Total residential mortgage | 353,250 | 1,672 | 11,416 | 78 | 366,416 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 133,204 | 2,775 | 9,899 | 0 | 145,878 | ||||||||||||||||||||||||||||
Commercial and Industrial | 41,751 | 7,246 | 1,042 | 118 | 50,157 | ||||||||||||||||||||||||||||
Political subdivisions | 17,534 | 0 | 0 | 0 | 17,534 | ||||||||||||||||||||||||||||
Commercial construction and land | 4,650 | 266 | 2,022 | 0 | 6,938 | ||||||||||||||||||||||||||||
Loans secured by farmland | 5,990 | 433 | 1,468 | 25 | 7,916 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,629 | 288 | 0 | 0 | 8,917 | ||||||||||||||||||||||||||||
Agricultural loans | 3,196 | 0 | 25 | 0 | 3,221 | ||||||||||||||||||||||||||||
Other commercial loans | 13,248 | 86 | 0 | 0 | 13,334 | ||||||||||||||||||||||||||||
Total commercial | 228,202 | 11,094 | 14,456 | 143 | 253,895 | ||||||||||||||||||||||||||||
Consumer | 10,095 | 22 | 117 | 0 | 10,234 | ||||||||||||||||||||||||||||
Totals | $ | 591,547 | $ | 12,788 | $ | 25,989 | $ | 221 | $ | 630,545 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
(In Thousands) | Special | ||||||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
Residential Mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 286,144 | $ | 1,876 | $ | 11,629 | $ | 182 | $ | 299,831 | |||||||||||||||||||||||
Residential mortgage loans - junior liens | 21,694 | 351 | 995 | 0 | 23,040 | ||||||||||||||||||||||||||||
Home equity lines of credit | 33,821 | 295 | 414 | 0 | 34,530 | ||||||||||||||||||||||||||||
1-4 Family residential construction | 13,837 | 0 | 72 | 0 | 13,909 | ||||||||||||||||||||||||||||
Total residential mortgage | 355,496 | 2,522 | 13,110 | 182 | 371,310 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 129,834 | 5,866 | 11,368 | 147 | 147,215 | ||||||||||||||||||||||||||||
Commercial and Industrial | 32,317 | 6,697 | 3,138 | 235 | 42,387 | ||||||||||||||||||||||||||||
Political subdivisions | 16,291 | 0 | 0 | 0 | 16,291 | ||||||||||||||||||||||||||||
Commercial construction and land | 13,792 | 427 | 2,036 | 748 | 17,003 | ||||||||||||||||||||||||||||
Loans secured by farmland | 8,279 | 758 | 1,402 | 29 | 10,468 | ||||||||||||||||||||||||||||
Multi-family (5 or more) residential | 10,665 | 316 | 4 | 0 | 10,985 | ||||||||||||||||||||||||||||
Agricultural loans | 3,169 | 34 | 48 | 0 | 3,251 | ||||||||||||||||||||||||||||
Other commercial loans | 14,532 | 99 | 0 | 0 | 14,631 | ||||||||||||||||||||||||||||
Total commercial | 228,879 | 14,197 | 17,996 | 1,159 | 262,231 | ||||||||||||||||||||||||||||
Consumer | 10,587 | 6 | 169 | 0 | 10,762 | ||||||||||||||||||||||||||||
Totals | $ | 594,962 | $ | 16,725 | $ | 31,275 | $ | 1,341 | $ | 644,303 | |||||||||||||||||||||||
Impaired Financing Receivable by Portfolio Segment [Table Text Block] | 31-Dec-14 | Loans: | Allowance for Loan Losses: | ||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||||||||||
Evaluated | Evaluated | Totals | Evaluated | Evaluated | Totals | ||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 1,665 | $ | 290,217 | $ | 291,882 | $ | 358 | $ | 2,583 | $ | 2,941 | |||||||||||||||||||||
Residential mortgage loans - junior liens | 17 | 21,149 | 21,166 | 0 | 176 | 176 | |||||||||||||||||||||||||||
Home equity lines of credit | 0 | 36,629 | 36,629 | 0 | 322 | 322 | |||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 16,739 | 16,739 | 0 | 214 | 214 | |||||||||||||||||||||||||||
Total residential mortgage | 1,682 | 364,734 | 366,416 | 358 | 3,295 | 3,653 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 6,537 | 139,341 | 145,878 | 16 | 1,742 | 1,758 | |||||||||||||||||||||||||||
Commercial and industrial | 663 | 49,494 | 50,157 | 82 | 606 | 688 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 17,534 | 17,534 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial construction and land | 1,939 | 4,999 | 6,938 | 211 | 72 | 283 | |||||||||||||||||||||||||||
Loans secured by farmland | 1,470 | 6,446 | 7,916 | 102 | 63 | 165 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 0 | 8,917 | 8,917 | 0 | 87 | 87 | |||||||||||||||||||||||||||
Agricultural loans | 25 | 3,196 | 3,221 | 0 | 31 | 31 | |||||||||||||||||||||||||||
Other commercial loans | 0 | 13,334 | 13,334 | 0 | 131 | 131 | |||||||||||||||||||||||||||
Total commercial | 10,634 | 243,261 | 253,895 | 411 | 2,732 | 3,143 | |||||||||||||||||||||||||||
Consumer | 0 | 10,234 | 10,234 | 0 | 145 | 145 | |||||||||||||||||||||||||||
Unallocated | 395 | ||||||||||||||||||||||||||||||||
Total | $ | 12,316 | $ | 618,229 | $ | 630,545 | $ | 769 | $ | 6,172 | $ | 7,336 | |||||||||||||||||||||
31-Dec-13 | Loans: | Allowance for Loan Losses: | |||||||||||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||||||||||
Evaluated | Evaluated | Totals | Evaluated | Evaluated | Totals | ||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 2,727 | $ | 297,104 | $ | 299,831 | $ | 449 | $ | 2,525 | $ | 2,974 | |||||||||||||||||||||
Residential mortgage loans - junior liens | 183 | 22,857 | 23,040 | 100 | 194 | 294 | |||||||||||||||||||||||||||
Home equity lines of credit | 0 | 34,530 | 34,530 | 0 | 269 | 269 | |||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 13,909 | 13,909 | 0 | 168 | 168 | |||||||||||||||||||||||||||
Total residential mortgage | 2,910 | 368,400 | 371,310 | 549 | 3,156 | 3,705 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 7,988 | 139,227 | 147,215 | 1,577 | 1,546 | 3,123 | |||||||||||||||||||||||||||
Commercial and industrial | 1,276 | 41,111 | 42,387 | 106 | 485 | 591 | |||||||||||||||||||||||||||
Political subdivisions | 0 | 16,291 | 16,291 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial construction and land | 2,776 | 14,227 | 17,003 | 72 | 195 | 267 | |||||||||||||||||||||||||||
Loans secured by farmland | 1,318 | 9,150 | 10,468 | 29 | 86 | 115 | |||||||||||||||||||||||||||
Multi-family (5 or more) residential | 0 | 10,985 | 10,985 | 0 | 103 | 103 | |||||||||||||||||||||||||||
Agricultural loans | 48 | 3,203 | 3,251 | 0 | 30 | 30 | |||||||||||||||||||||||||||
Other commercial loans | 0 | 14,631 | 14,631 | 0 | 138 | 138 | |||||||||||||||||||||||||||
Total commercial | 13,406 | 248,825 | 262,231 | 1,784 | 2,583 | 4,367 | |||||||||||||||||||||||||||
Consumer | 5 | 10,757 | 10,762 | 0 | 193 | 193 | |||||||||||||||||||||||||||
Unallocated | 398 | ||||||||||||||||||||||||||||||||
Total | $ | 16,321 | $ | 627,982 | $ | 644,303 | $ | 2,333 | $ | 5,932 | $ | 8,663 | |||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | (In Thousands) | 2014 | 2013 | ||||||||||||||||||||||||||||||
Impaired loans with a valuation allowance | $ | 3,241 | $ | 9,889 | |||||||||||||||||||||||||||||
Impaired loans without a valuation allowance | 9,075 | 6,432 | |||||||||||||||||||||||||||||||
Total impaired loans | $ | 12,316 | $ | 16,321 | |||||||||||||||||||||||||||||
Valuation allowance related to impaired loans | $ | 769 | $ | 2,333 | |||||||||||||||||||||||||||||
Schedule of Additional Information on Impaired Loans [Table Text Block] | (In Thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||
Average investment in impaired loans | $ | 14,359 | $ | 9,690 | $ | 7,209 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 703 | $ | 426 | $ | 278 | |||||||||||||||||||||||||||
Interest income recognized on a cash basis on impaired loans | $ | 703 | $ | 426 | $ | 278 | |||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In Thousands) | 31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
90+ Days and | 90+ Days and | ||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Accruing | Nonaccrual | ||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 1,989 | $ | 3,440 | $ | 2,016 | $ | 3,533 | |||||||||||||||||||||||||
Residential mortgage loans - junior liens | 82 | 50 | 187 | 110 | |||||||||||||||||||||||||||||
Home equity lines of credit | 49 | 22 | 87 | 62 | |||||||||||||||||||||||||||||
1-4 Family residential construction | 0 | 0 | 0 | 72 | |||||||||||||||||||||||||||||
Total residential mortgage | 2,120 | 3,512 | 2,290 | 3,777 | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 653 | 5,804 | 744 | 7,096 | |||||||||||||||||||||||||||||
Commercial and industrial | 5 | 379 | 17 | 434 | |||||||||||||||||||||||||||||
Commercial construction and land | 35 | 1,915 | 5 | 2,663 | |||||||||||||||||||||||||||||
Loans secured by farmland | 0 | 951 | 0 | 902 | |||||||||||||||||||||||||||||
Agricultural loans | 0 | 25 | 0 | 35 | |||||||||||||||||||||||||||||
Total commercial | 693 | 9,074 | 766 | 11,130 | |||||||||||||||||||||||||||||
Consumer | 30 | 24 | 75 | 27 | |||||||||||||||||||||||||||||
Totals | $ | 2,843 | $ | 12,610 | $ | 3,131 | $ | 14,934 | |||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | As of December 31, 2014 | As of December 31, 2013 | |||||||||||||||||||||||||||||||
Current & | Current & | ||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Past Due | |||||||||||||||||||||||||||
Less than | 30-89 | 90+ | Less than | 30-89 | 90+ | ||||||||||||||||||||||||||||
30 Days | Days | Days | Total | 30 Days | Days | Days | Total | ||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | $ | 282,766 | $ | 5,443 | $ | 3,673 | $ | 291,882 | $ | 289,483 | $ | 6,776 | $ | 3,572 | $ | 299,831 | |||||||||||||||||
Residential mortgage loans - junior liens | 20,853 | 190 | 123 | 21,166 | 22,247 | 506 | 287 | 23,040 | |||||||||||||||||||||||||
Home equity lines of credit | 36,300 | 258 | 71 | 36,629 | 34,263 | 118 | 149 | 34,530 | |||||||||||||||||||||||||
1-4 Family residential construction | 16,739 | 0 | 0 | 16,739 | 13,837 | 0 | 72 | 13,909 | |||||||||||||||||||||||||
Total residential mortgage | 356,658 | 5,891 | 3,867 | 366,416 | 359,830 | 7,400 | 4,080 | 371,310 | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 143,713 | 883 | 1,282 | 145,878 | 145,055 | 405 | 1,755 | 147,215 | |||||||||||||||||||||||||
Commercial and industrial | 49,994 | 43 | 120 | 50,157 | 41,730 | 434 | 223 | 42,387 | |||||||||||||||||||||||||
Political subdivisions | 17,534 | 0 | 0 | 17,534 | 16,291 | 0 | 0 | 16,291 | |||||||||||||||||||||||||
Commercial construction and land | 4,897 | 91 | 1,950 | 6,938 | 14,303 | 32 | 2,668 | 17,003 | |||||||||||||||||||||||||
Loans secured by farmland | 6,811 | 254 | 851 | 7,916 | 9,267 | 329 | 872 | 10,468 | |||||||||||||||||||||||||
Multi-family (5 or more) residential | 8,720 | 197 | 0 | 8,917 | 10,985 | 0 | 0 | 10,985 | |||||||||||||||||||||||||
Agricultural loans | 3,105 | 91 | 25 | 3,221 | 3,203 | 13 | 35 | 3,251 | |||||||||||||||||||||||||
Other commercial loans | 13,334 | 0 | 0 | 13,334 | 14,631 | 0 | 0 | 14,631 | |||||||||||||||||||||||||
Total commercial | 248,108 | 1,559 | 4,228 | 253,895 | 255,465 | 1,213 | 5,553 | 262,231 | |||||||||||||||||||||||||
Consumer | 10,164 | 40 | 30 | 10,234 | 10,516 | 171 | 75 | 10,762 | |||||||||||||||||||||||||
Totals | $ | 614,930 | $ | 7,490 | $ | 8,125 | $ | 630,545 | $ | 625,811 | $ | 8,784 | $ | 9,708 | $ | 644,303 | |||||||||||||||||
Contractual Aging of Nonaccrual Loans [Table Text Block] | Current & | ||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||
Less than | 30-89 | 90+ | |||||||||||||||||||||||||||||||
30 Days | Days | Days | Total | ||||||||||||||||||||||||||||||
December 31, 2014 Nonaccrual Totals | $ | 6,959 | $ | 369 | $ | 5,282 | $ | 12,610 | |||||||||||||||||||||||||
December 31, 2013 Nonaccrual Totals | $ | 7,878 | $ | 479 | $ | 6,577 | $ | 14,934 | |||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings (TDRs): | ||||||||||||||||||||||||||||||||
Current & | |||||||||||||||||||||||||||||||||
(In Thousands) | Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||
Less than | 30-89 | 90+ | |||||||||||||||||||||||||||||||
30 Days | Days | Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
December 31, 2014 Totals | $ | 1,725 | $ | 82 | $ | 0 | $ | 5,388 | $ | 7,195 | |||||||||||||||||||||||
December 31, 2013 Totals | $ | 3,254 | $ | 13 | $ | 0 | $ | 908 | $ | 4,175 | |||||||||||||||||||||||
Schedule of Troubled Debt Restructurings With Subsequent Default [Table Text Block] | Number | ||||||||||||||||||||||||||||||||
Of | Recorded | ||||||||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||||||||||||||
(Balances in Thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 3 | $ | 257 | ||||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 1 | 62 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 1 | 429 | |||||||||||||||||||||||||||||||
Commercial construction and land | 1 | 25 | |||||||||||||||||||||||||||||||
Loans secured by farmland | 4 | 490 | |||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | |||||||||||||||||||||||||||||||
Number | |||||||||||||||||||||||||||||||||
Of | Recorded | ||||||||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(Balances in Thousands) | |||||||||||||||||||||||||||||||||
Residential mortgage, | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 1 | $ | 85 | ||||||||||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2 | 588 | |||||||||||||||||||||||||||||||
Commercial construction and land | 1 | 110 | |||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | |||||||||||||||||||||||||||||||
Troubled Debt Restructuring [Member] | |||||||||||||||||||||||||||||||||
Note 8 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Year Ended December 31, 2014 | Pre- | Post- | ||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Residential mortgage, | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 3 | $ | 150 | $ | 150 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 5 | 6,679 | 5,193 | ||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 80 | 80 | ||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Pre- | Post- | |||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Residential mortgage: | |||||||||||||||||||||||||||||||||
Residential mortgage loans - first liens | 6 | $ | 677 | $ | 677 | ||||||||||||||||||||||||||||
Residential mortgage loans - junior liens | 3 | 102 | 102 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial loans secured by real estate | 2 | 866 | 866 | ||||||||||||||||||||||||||||||
Commercial and industrial | 3 | 701 | 701 | ||||||||||||||||||||||||||||||
Loans secured by farmland | 4 | 512 | 512 | ||||||||||||||||||||||||||||||
Agricultural loans | 1 | 13 | 13 | ||||||||||||||||||||||||||||||
Consumer | 1 | 6 | 6 | ||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | Pre- | Post- | |||||||||||||||||||||||||||||||
(Balances in Thousands) | Modification | Modification | |||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
of | Recorded | Recorded | |||||||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 65 | $ | 65 |
Note_9_Bank_Premises_and_Equip1
Note 9 - Bank Premises and Equipment (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||
Property, Plant and Equipment [Table Text Block] | (In Thousands) | December 31, | |||||||||||
2014 | 2013 | ||||||||||||
Land | $ | 2,818 | $ | 2,818 | |||||||||
Buildings and improvements | 26,973 | 26,869 | |||||||||||
Furniture and equipment | 17,412 | 17,087 | |||||||||||
Construction in progress | 98 | 2 | |||||||||||
Total | 47,301 | 46,776 | |||||||||||
Less: accumulated depreciation | (31,045 | ) | (29,346 | ) | |||||||||
Net | $ | 16,256 | $ | 17,430 | |||||||||
Schedule of Depreciation Expense [Table Text Block] | (In Thousands) | 2014 | 2013 | 2012 | |||||||||
Occupancy expense | $ | 998 | $ | 1,022 | $ | 1,050 | |||||||
Furniture and equipment expense | 942 | 998 | 889 | ||||||||||
Total | $ | 1,940 | $ | 2,020 | $ | 1,939 |
Note_10_Intangible_Assets_Tabl
Note 10 - Intangible Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, | ||||||||
(In Thousands) | 2014 | 2013 | |||||||
Gross amount | $ | 2,034 | $ | 2,034 | |||||
Less: accumulated amortization | (1,982 | ) | (1,947 | ) | |||||
Net | $ | 52 | $ | 87 | |||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (In Thousands) | ||||||||
2015 | $ | 22 | |||||||
2016 | 12 | ||||||||
2017 | 6 | ||||||||
2018 | 4 | ||||||||
2019 | 3 |
Note_11_Deposits_Tables
Note 11 - Deposits (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Disclosure Text Block [Abstract] | ||||||
Scheduled Maturities of Time Deposits [Table Text Block] | (In Thousands) | |||||
2015 | $ | 128,966 | ||||
2016 | 64,850 | |||||
2017 | 19,854 | |||||
2018 | 12,128 | |||||
2019 | 8,709 | |||||
Thereafter | 4,430 | |||||
$ | 238,937 | |||||
Schedule of Remaining Maturities of Time Deposits in Excess of $100,000 [Table Text Block] | (In Thousands) | |||||
Three months or less | $ | 38,620 | ||||
Over 3 months through 12 months | 8,910 | |||||
Over 1 year through 3 years | 11,478 | |||||
Over 3 years | 8,786 | |||||
Total | $ | 67,794 |
Note_12_Borrowed_Funds_Tables
Note 12 - Borrowed Funds (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Schedule of Short-term Debt [Table Text Block] | (In Thousands) | Dec. 31, | Dec. 31, | ||||||
2014 | 2013 | ||||||||
FHLB-Pittsburgh borrowings | $ | 0 | $ | 20,000 | |||||
Customer repurchase agreements | 5,537 | 3,385 | |||||||
Total short-term borrowings | $ | 5,537 | $ | 23,385 | |||||
Schedule of Long-term Debt Instruments [Table Text Block] | (In Thousands) | Dec. 31, | Dec. 31, | ||||||
2014 | 2013 | ||||||||
FHLB-Pittsburgh borrowings | $ | 12,060 | $ | 12,338 | |||||
Repurchase agreements | 61,000 | 61,000 | |||||||
Total long-term borrowings | $ | 73,060 | $ | 73,338 | |||||
Schedule of Maturities of Long-term Debt [Table Text Block] | (In Thousands) | Dec. 31, | Dec. 31, | ||||||
2014 | 2013 | ||||||||
Loan maturing in 2016 with a rate of 6.86% | $ | 107 | $ | 153 | |||||
Loan maturing in 2017 with a rate of 6.83% | 16 | 22 | |||||||
Loan maturing in 2017 with a rate of 3.81% | 10,000 | 10,000 | |||||||
Loan maturing in 2020 with a rate of 4.79% | 987 | 1,146 | |||||||
Loan maturing in 2025 with a rate of 4.91% | 950 | 1,017 | |||||||
Total long-term FHLB-Pittsburgh borrowings | $ | 12,060 | $ | 12,338 | |||||
(In Thousands) | Dec. 31, | Dec. 31, | |||||||
2014 | 2013 | ||||||||
Agreement maturing in 2017 with a rate of 3.595% | $ | 27,000 | $ | 27,000 | |||||
Agreement maturing in 2017 with a rate of 4.265% | 34,000 | 34,000 | |||||||
Total long-term repurchase agreements | $ | 61,000 | $ | 61,000 |
Note_13_Employee_and_Postretir1
Note 13 - Employee and Postretirement Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Note 13 - Employee and Postretirement Benefit Plans (Tables) [Line Items] | |||||||||||||||||||||||||
Schedule of Net Funded Status [Table Text Block] | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
CHANGE IN BENEFIT OBLIGATION: | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,733 | $ | 1,783 | $ | 1,391 | $ | 2,081 | |||||||||||||||||
Service cost | 0 | 0 | 34 | 41 | |||||||||||||||||||||
Interest cost | 73 | 71 | 57 | 55 | |||||||||||||||||||||
Plan participants' contributions | 0 | 0 | 198 | 208 | |||||||||||||||||||||
Actuarial loss (gain) | 76 | (104 | ) | (48 | ) | (171 | ) | ||||||||||||||||||
Plan amendments | 0 | 0 | 0 | (557 | ) | ||||||||||||||||||||
Benefits paid | (16 | ) | (17 | ) | (254 | ) | (266 | ) | |||||||||||||||||
Settlement of plan obligation | (781 | ) | 0 | 0 | 0 | ||||||||||||||||||||
Benefit obligation at end of year | $ | 1,085 | $ | 1,733 | $ | 1,378 | $ | 1,391 | |||||||||||||||||
CHANGE IN PLAN ASSETS: | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 1,968 | $ | 1,842 | $ | 0 | $ | 0 | |||||||||||||||||
Actual return on plan assets | 37 | 143 | 0 | 0 | |||||||||||||||||||||
Employer contribution | 0 | 0 | 56 | 58 | |||||||||||||||||||||
Plan participants' contributions | 0 | 0 | 198 | 208 | |||||||||||||||||||||
Benefits paid | (16 | ) | (17 | ) | (254 | ) | (266 | ) | |||||||||||||||||
Settlement of plan obligation | (781 | ) | 0 | 0 | 0 | ||||||||||||||||||||
Fair value of plan assets at end of year | $ | 1,208 | $ | 1,968 | $ | 0 | $ | 0 | |||||||||||||||||
Funded (underfunded) status at end of year | $ | 123 | $ | 235 | $ | (1,378 | ) | $ | (1,391 | ) | |||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Assets and liabilities: | ||||||||||||||||||||||||
(In Thousands) | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Other assets | $ | 123 | $ | 235 | |||||||||||||||||||||
Accrued interest and other liabilities | $ | 1,378 | $ | 1,391 | |||||||||||||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | (In Thousands) | Pension: | Postretirement: | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Prior service cost | $ | 0 | $ | 0 | $ | (402 | ) | $ | (433 | ) | |||||||||||||||
Net actuarial loss | 269 | 357 | 11 | 59 | |||||||||||||||||||||
Total | $ | 269 | $ | 357 | $ | (391 | ) | $ | (374 | ) | |||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | (In Thousands) | Pension: | Postretirement: | ||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Service cost | $ | 0 | $ | 0 | $ | 0 | $ | 34 | $ | 41 | $ | 91 | |||||||||||||
Interest cost | 73 | 71 | 72 | 57 | 55 | 81 | |||||||||||||||||||
Expected return on plan assets | (88 | ) | (90 | ) | (72 | ) | 0 | 0 | 0 | ||||||||||||||||
Amortization of transition (asset) obligation | 0 | 0 | 0 | 0 | 0 | 37 | |||||||||||||||||||
Amortization of prior service cost | 0 | 0 | 0 | (31 | ) | (31 | ) | 13 | |||||||||||||||||
Recognized net actuarial loss | 19 | 32 | 27 | 0 | 1 | 0 | |||||||||||||||||||
Loss on settlement | 196 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total net periodic benefit cost | $ | 200 | $ | 13 | $ | 27 | $ | 60 | $ | 66 | $ | 222 | |||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | (In Thousands) | Pension | Postretirement | ||||||||||||||||||||||
2015 | $ | 235 | $ | 88 | |||||||||||||||||||||
2016 | 41 | 87 | |||||||||||||||||||||||
2017 | 16 | 88 | |||||||||||||||||||||||
2018 | 401 | 97 | |||||||||||||||||||||||
2019 | 38 | 98 | |||||||||||||||||||||||
2020-2024 | 208 | 515 | |||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||
Cash and cash equivalents | 3 | % | 36 | % | |||||||||||||||||||||
Debt securities | 37 | % | 24 | % | |||||||||||||||||||||
Equity securities | 47 | % | 30 | % | |||||||||||||||||||||
Alternative funds | 13 | % | 10 | % | |||||||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Volatility | 39 | % | 41 | % | 41 | % | |||||||||||||||||||
Expected option lives (in years) | 8 | 8 | 7 | ||||||||||||||||||||||
Risk-free interest rate | 2.85 | % | 1.6 | % | 1.53 | % | |||||||||||||||||||
Dividend yield | 4.33 | % | 3.69 | % | 3.97 | % | |||||||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | (In Thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Stock options | $ | 153 | $ | 242 | $ | 247 | |||||||||||||||||||
Restricted stock | 412 | 454 | 320 | ||||||||||||||||||||||
Total | $ | 565 | $ | 696 | $ | 567 | |||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||||||
Shares | Price | Shares | Price | Shares | Price | ||||||||||||||||||||
Outstanding, beginning of year | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | 301,797 | $ | 19.05 | ||||||||||||||||
Granted | 39,027 | $ | 20.45 | 64,050 | $ | 19.21 | 64,757 | $ | 18.54 | ||||||||||||||||
Exercised | (50,415 | ) | $ | 17.57 | (10,656 | ) | $ | 17.22 | (17,284 | ) | $ | 16.2 | |||||||||||||
Forfeited | (16,424 | ) | $ | 20.03 | (14,135 | ) | $ | 20.13 | (6,830 | ) | $ | 21.51 | |||||||||||||
Expired | (14,207 | ) | $ | 26.59 | (18,753 | ) | $ | 20.73 | (4,770 | ) | $ | 17 | |||||||||||||
Outstanding, end of year | 316,157 | $ | 19.05 | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | ||||||||||||||||
Options exercisable at year-end | 316,157 | $ | 19.05 | 358,176 | $ | 19.03 | 337,670 | $ | 19.08 | ||||||||||||||||
Weighted-average fair value of options granted | $ | 5.5 | $ | 5.56 | $ | 5.15 | |||||||||||||||||||
Weighted-average fair value of options forfeited | $ | 4.89 | $ | 3.77 | $ | 4.03 | |||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Stock Options | Restricted Stock | |||||||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
Number | Grant Date | Number | Grant Date | ||||||||||||||||||||||
of Shares | Fair Value | of Shares | Fair Value | ||||||||||||||||||||||
Outstanding, December 31, 2013 | 0 | 67,878 | $ | 18.67 | |||||||||||||||||||||
Granted | 39,027 | $ | 5.5 | 16,711 | $ | 20.4 | |||||||||||||||||||
Vested | (39,027 | ) | $ | 5.5 | (24,695 | ) | $ | 18.18 | |||||||||||||||||
Forfeited | 0 | (7,458 | ) | $ | 19.47 | ||||||||||||||||||||
Outstanding, December 31, 2014 | 0 | 52,436 | $ | 19.34 | |||||||||||||||||||||
Used to Determine Net Periodic Benefit Cost [Member] | |||||||||||||||||||||||||
Note 13 - Employee and Postretirement Benefit Plans (Tables) [Line Items] | |||||||||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Citizens Trust Company Retirement Plan and postretirement plan: | |||||||||||||||||||||||||
Discount rate | 4.5 | % | 4 | % | 4.5 | % | 4 | % | 4 | % | 4.5 | % | |||||||||||||
Expected return on plan assets | 5.31 | % | 5.31 | % | 7.5 | % | N/A | N/A | N/A | ||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||
Used to Determine Benefit Obligation [Member] | |||||||||||||||||||||||||
Note 13 - Employee and Postretirement Benefit Plans (Tables) [Line Items] | |||||||||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | Pension: | Postretirement: | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Discount rate | 3.75 | % | 4.5 | % | 4 | % | 4.75 | % | |||||||||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A |
Note_14_Income_Taxes_Tables
Note 14 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, | December 31, | |||||||||||||||||||||||
(In Thousands) | 2014 | 2013 | |||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Unrealized holding losses on securities | $ | 0 | $ | 541 | |||||||||||||||||||||
Net realized losses on securities | 144 | 91 | |||||||||||||||||||||||
Allowance for loan losses | 2,568 | 3,032 | |||||||||||||||||||||||
Credit for alternative minimum tax paid | 537 | 1,905 | |||||||||||||||||||||||
Other deferred tax assets | 2,595 | 2,332 | |||||||||||||||||||||||
Total deferred tax assets | 5,844 | 7,901 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Unrealized holding gains on securities | 2,844 | 0 | |||||||||||||||||||||||
Defined benefit plans - ASC 835 | 43 | 6 | |||||||||||||||||||||||
Bank premises and equipment | 1,134 | 1,314 | |||||||||||||||||||||||
Core deposit intangibles | 18 | 30 | |||||||||||||||||||||||
Other deferred tax liabilities | 137 | 207 | |||||||||||||||||||||||
Total deferred tax liabilities | 4,176 | 1,557 | |||||||||||||||||||||||
Deferred tax asset, net | $ | 1,668 | $ | 6,344 | |||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Currently payable | $ | 4,280 | $ | 4,125 | $ | 4,545 | |||||||||||||||||||
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets | 158 | 219 | 121 | ||||||||||||||||||||||
Deferred | 1,254 | 1,839 | 3,760 | ||||||||||||||||||||||
Total provision | $ | 5,692 | $ | 6,183 | $ | 8,426 | |||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||||||
Amount | % | Amount | % | Amount | % | ||||||||||||||||||||
Expected provision | $ | 7,973 | 35 | $ | 8,672 | 35 | $ | 10,896 | 35 | ||||||||||||||||
Tax-exempt interest income | (1,982 | ) | (8.70 | ) | (2,137 | ) | (8.62 | ) | (2,287 | ) | (7.35 | ) | |||||||||||||
Nondeductible interest expense | 56 | 0.25 | 60 | 0.24 | 92 | 0.3 | |||||||||||||||||||
Dividends received deduction | (79 | ) | (0.35 | ) | (76 | ) | (0.31 | ) | (78 | ) | (0.25 | ) | |||||||||||||
Increase in cash surrender value of life insurance | (132 | ) | (0.58 | ) | (140 | ) | (0.57 | ) | (159 | ) | (0.51 | ) | |||||||||||||
Employee stock option compensation | 41 | 0.18 | 67 | 0.27 | 62 | 0.2 | |||||||||||||||||||
Tax benefit from limited partnership investment | (83 | ) | (0.36 | ) | (85 | ) | (0.34 | ) | 0 | 0 | |||||||||||||||
Other, net | (101 | ) | (0.45 | ) | (178 | ) | (0.72 | ) | (100 | ) | (0.32 | ) | |||||||||||||
Effective income tax provision | $ | 5,692 | 24.99 | $ | 6,183 | 24.95 | $ | 8,426 | 27.07 |
Note_15_Related_Party_Transact1
Note 15 - Related Party Transactions (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | (In Thousands) | Beginning | New | Other | Ending | ||||||||||||||||
Balance | Loans | Repayments | Changes | Balance | |||||||||||||||||
12 directors, 8 executive officers 2014 | $ | 12,547 | $ | 188 | $ | (1,358 | ) | $ | 646 | $ | 12,023 | ||||||||||
11 directors, 8 executive officers 2013 | 14,125 | 1,110 | (2,723 | ) | 35 | 12,547 | |||||||||||||||
11 directors, 7 executive officers 2012 | 12,997 | 2,517 | (1,424 | ) | 35 | 14,125 |
Note_16_Offbalance_Sheet_Risk_
Note 16 - Off-balance Sheet Risk (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Note 16 - Off-balance Sheet Risk (Tables) [Line Items] | |||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | (In Thousands) | 2014 | 2013 | ||||||
Commitments to extend credit | $ | 143,863 | $ | 139,866 | |||||
Standby letters of credit | 13,415 | 21,590 | |||||||
Standby Letters of Credit [Member] | |||||||||
Note 16 - Off-balance Sheet Risk (Tables) [Line Items] | |||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Amount | ||||||||
Year of Expiration | (In Thousands) | ||||||||
2015 | $ | 8,932 | |||||||
2016 | 2,183 | ||||||||
2017 | 60 | ||||||||
2019 | 30 | ||||||||
2020 and Thereafter | 2,210 | ||||||||
Total | $ | 13,415 |
Note_18_Regulatory_Matters_Tab
Note 18 - Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum To Be Well | ||||||||||||||||||
(Dollars in Thousands) | Minimum | Capitalized Under | |||||||||||||||||
Capital | Prompt Corrective | ||||||||||||||||||
Actual | Requirement | Action Provisions | |||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
December 31, 2014: | |||||||||||||||||||
Total capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | $ | 179,588 | 27.6 | % | $ | 52,051 | >8% | n/a | n/a | ||||||||||
C&N Bank | 156,420 | 24.33 | % | 51,442 | >8% | $ | 64,303 | >10% | |||||||||||
Tier 1 capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | 170,880 | 26.26 | % | 26,026 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 149,055 | 23.18 | % | 25,721 | >4% | 38,582 | >6% | ||||||||||||
Tier 1 capital to average assets: | |||||||||||||||||||
Consolidated | 170,880 | 13.89 | % | 49,224 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 149,055 | 12.22 | % | 48,798 | >4% | 60,998 | >5% | ||||||||||||
December 31, 2013: | |||||||||||||||||||
Total capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | $ | 177,693 | 26.6 | % | $ | 53,449 | >8% | n/a | n/a | ||||||||||
C&N Bank | 162,610 | 24.65 | % | 52,783 | >8% | $ | 65,979 | >10% | |||||||||||
Tier 1 capital to risk-weighted assets: | |||||||||||||||||||
Consolidated | 168,039 | 25.15 | % | 26,724 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 154,323 | 23.39 | % | 26,392 | >4% | 39,588 | >6% | ||||||||||||
Tier 1 capital to average assets: | |||||||||||||||||||
Consolidated | 168,039 | 13.78 | % | 48,783 | >4% | n/a | n/a | ||||||||||||
C&N Bank | 154,323 | 12.77 | % | 48,348 | >4% | 60,435 | >5% |
Note_19_Parent_Company_Only_Ta
Note 19 - Parent Company Only (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEET | December 31, | |||||||||||
(In Thousands) | 2014 | 2013 | |||||||||||
ASSETS | |||||||||||||
Cash | $ | 9,624 | $ | 2,297 | |||||||||
Investment in subsidiaries: | |||||||||||||
Citizens & Northern Bank | 164,551 | 163,711 | |||||||||||
Citizens & Northern Investment Corporation | 10,822 | 10,216 | |||||||||||
Bucktail Life Insurance Company | 3,336 | 3,254 | |||||||||||
Other assets | 36 | 0 | |||||||||||
TOTAL ASSETS | $ | 188,369 | $ | 179,478 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
Other liabilities | $ | 7 | $ | 6 | |||||||||
Stockholders' equity | 188,362 | 179,472 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 188,369 | $ | 179,478 | |||||||||
Condensed Income Statement [Table Text Block] | CONDENSED INCOME STATEMENT | ||||||||||||
(In Thousands) | 2014 | 2013 | 2012 | ||||||||||
Dividends from Citizens & Northern Bank | $ | 22,608 | $ | 11,108 | $ | 9,245 | |||||||
Expenses | (112 | ) | (108 | ) | (105 | ) | |||||||
Income before equity in undistributed income of subsidiaries | 22,496 | 11,000 | 9,140 | ||||||||||
Equity in undistributed (loss) income of subsidiaries | (5,410 | ) | 7,594 | 13,565 | |||||||||
NET INCOME | $ | 17,086 | $ | 18,594 | $ | 22,705 | |||||||
Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENT OF CASH FLOWS | ||||||||||||
(In Thousands) | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||
Net income | $ | 17,086 | $ | 18,594 | $ | 22,705 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed net loss (income) of Subsidiaries | 5,410 | (7,594 | ) | (13,565 | ) | ||||||||
(Increase) decrease in other assets | (36 | ) | 7 | 116 | |||||||||
Increase in other liabilities | 1 | 0 | 6 | ||||||||||
Net Cash Provided by Operating Activities | 22,461 | 11,007 | 9,262 | ||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||
Proceeds from sale of treasury stock | 123 | 184 | 229 | ||||||||||
Tax benefit from compensation plans, net | 137 | 127 | 104 | ||||||||||
Purchase of treasury stock | (4,002 | ) | 0 | 0 | |||||||||
Dividends paid | (11,392 | ) | (10,916 | ) | (9,061 | ) | |||||||
Net Cash Used in Financing Activities | (15,134 | ) | (10,605 | ) | (8,728 | ) | |||||||
INCREASE IN CASH AND CASH EQUIVALENTS | 7,327 | 402 | 534 | ||||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 2,297 | 1,895 | 1,361 | ||||||||||
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 9,624 | $ | 2,297 | $ | 1,895 |
Note_20_Summary_of_Quarterly_C1
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | 2014 Quarter Ended | ||||||||||||||||
Mar. 31, | June 30, | Sept. 30, | Dec. 31, | ||||||||||||||
Interest income | $ | 11,406 | $ | 11,563 | $ | 11,572 | $ | 11,468 | |||||||||
Interest expense | 1,288 | 1,290 | 1,287 | 1,257 | |||||||||||||
Net interest income | 10,118 | 10,273 | 10,285 | 10,211 | |||||||||||||
(Credit) provision for loan losses | (311 | ) | 446 | 218 | 123 | ||||||||||||
Net interest income after (credit) provision for loan losses | 10,429 | 9,827 | 10,067 | 10,088 | |||||||||||||
Other income | 3,751 | 3,980 | 3,887 | 3,802 | |||||||||||||
Net gains on available-for-sale securities | 31 | 103 | 760 | 210 | |||||||||||||
Loss on prepayment of debt | - | - | - | - | |||||||||||||
Other expenses | 8,524 | 8,347 | 9,036 | 8,250 | |||||||||||||
Income before income tax provision | 5,687 | 5,563 | 5,678 | 5,850 | |||||||||||||
Income tax provision | 1,399 | 1,400 | 1,411 | 1,482 | |||||||||||||
Net income available to common shareholders | $ | 4,288 | $ | 4,163 | $ | 4,267 | $ | 4,368 | |||||||||
Net income per share – basic | $ | 0.35 | $ | 0.33 | $ | 0.34 | $ | 0.36 | |||||||||
Net income per share – diluted | $ | 0.34 | $ | 0.33 | $ | 0.34 | $ | 0.35 | |||||||||
2013 Quarter Ended | |||||||||||||||||
Mar. 31, | June 30, | Sept. 30, | Dec. 31, | ||||||||||||||
Interest income | $ | 12,647 | $ | 12,355 | $ | 12,027 | $ | 11,885 | |||||||||
Interest expense | 1,600 | 1,415 | 1,396 | 1,354 | |||||||||||||
Net interest income | 11,047 | 10,940 | 10,631 | 10,531 | |||||||||||||
(Credit) provision for loan losses | 183 | 66 | 239 | 1,559 | |||||||||||||
Net interest income after (credit) provision for loan losses | 10,864 | 10,874 | 10,392 | 8,972 | |||||||||||||
Other income | 3,843 | 4,191 | 4,293 | 4,124 | |||||||||||||
Net gains on available-for-sale securities | 1,159 | 100 | 193 | 266 | |||||||||||||
Loss on prepayment of debt | 1,023 | 0 | 0 | 0 | |||||||||||||
Other expenses | 8,553 | 8,520 | 8,610 | 7,788 | |||||||||||||
Income before income tax provision | 6,290 | 6,645 | 6,268 | 5,574 | |||||||||||||
Income tax provision | 1,584 | 1,671 | 1,579 | 1,349 | |||||||||||||
Net income available to common shareholders | $ | 4,706 | $ | 4,974 | $ | 4,689 | $ | 4,225 | |||||||||
Net income per share – basic | $ | 0.38 | $ | 0.4 | $ | 0.38 | $ | 0.34 | |||||||||
Net income per share – diluted | $ | 0.38 | $ | 0.4 | $ | 0.38 | $ | 0.34 |
Note_1_Nature_of_Operations_an1
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Commercial Loan [Member] | ||
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Loans Receivable, Secured by Real Estate, Percentage | 67.00% | |
Other Assets [Member] | ||
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Servicing Asset | $1,281,000 | $1,123,000 |
Note_3_Comprehensive_Income_De
Note 3 - Comprehensive Income (Details) - Components of Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Unrealized gains on available-for-sale securities: | |||
Unrealized holding gains on available-for-sale securities, before tax amount | $10,774 | ($17,623) | $4,128 |
Unrealized holding gains on available-for-sale securities, income tax effect | -3,771 | 6,168 | -1,608 |
Unrealized holding gains on available-for-sale securities, net of tax amount | 7,003 | -11,455 | 2,520 |
Reclassification adjustment for (gains) realized in income, before tax amount | -1,104 | -1,718 | -2,682 |
Reclassification adjustment for (gains) realized in income, income tax effect | 386 | 601 | 939 |
Reclassification adjustment for (gains) realized in income, net of tax amount | -718 | -1,117 | -1,743 |
Other comprehensive gain on available-for-sale securities, before tax amount | 9,670 | -19,341 | 1,446 |
Other comprehensive gain on available-for-sale securities, income tax effect | -3,385 | 6,769 | -669 |
Other comprehensive gain on available-for-sale securities, net of tax amount | 6,285 | -12,572 | 777 |
Unfunded pension and postretirement obligations: | |||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, before tax amount | -79 | 885 | 8 |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, income tax effect | 28 | -310 | -2 |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, net of tax amount | -51 | 575 | 6 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, before tax amount | 184 | 2 | 77 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, income tax effect | -65 | -1 | -17 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, net of tax amount | 119 | 1 | 60 |
Other comprehensive (loss) gain on unfunded retirement obligations, before tax amount | 105 | 887 | 85 |
Other comprehensive gain on unfunded retirement obligations, income tax effect | -37 | -311 | -19 |
Other comprehensive gain on unfunded retirement obligations, net of tax amount | 68 | 576 | 66 |
Total other comprehensive gain, before tax amount | 9,775 | -18,454 | 1,531 |
Total other comprehensive gain, income tax effect | -3,422 | 6,458 | -688 |
Net other comprehensive income (loss) | $6,353 | ($11,996) | $843 |
Note_3_Comprehensive_Income_De1
Note 3 - Comprehensive Income (Details) - Changes in the Components of Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
2014 | |||
Balance, beginning of period | ($993) | ||
Other comprehensive (loss) Income | 6,353 | -11,996 | 843 |
Balance, end of period | 5,360 | -993 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
2014 | |||
Balance, beginning of period | -1,004 | 11,568 | 10,791 |
Other comprehensive (loss) income before reclassifications | 7,003 | -11,455 | 2,520 |
Amounts reclassified from accumulated other comprehensive (loss) income | -718 | -1,117 | -1,743 |
Other comprehensive (loss) Income | 6,285 | -12,572 | 777 |
Balance, end of period | 5,281 | -1,004 | 11,568 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
2014 | |||
Balance, beginning of period | 11 | -565 | -631 |
Other comprehensive (loss) income before reclassifications | -51 | 575 | 6 |
Amounts reclassified from accumulated other comprehensive (loss) income | 119 | 1 | 60 |
Other comprehensive (loss) Income | 68 | 576 | 66 |
Balance, end of period | 79 | 11 | -565 |
Accumulated Other Comprehensive Income (Loss) [Member] | |||
2014 | |||
Balance, beginning of period | -993 | 11,003 | 10,160 |
Other comprehensive (loss) income before reclassifications | 6,952 | -10,880 | 2,526 |
Amounts reclassified from accumulated other comprehensive (loss) income | -599 | -1,116 | -1,683 |
Other comprehensive (loss) Income | 6,353 | -11,996 | 843 |
Balance, end of period | $5,360 | ($993) | $11,003 |
Note_3_Comprehensive_Income_De2
Note 3 - Comprehensive Income (Details) - Amounts Reclassified Out of Each Component of OCI (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Realized gains on available-for-sale securities, net | ($1,104,000) | ($1,743,000) | ($2,749,000) | ||||||||
Income tax provision | 5,692,000 | 6,183,000 | 8,426,000 | ||||||||
Net income | 4,368,000 | 4,267,000 | 4,163,000 | 4,288,000 | 4,225,000 | 4,689,000 | 4,974,000 | 4,706,000 | 17,086,000 | 18,594,000 | 22,705,000 |
Unrealized gains and losses on available-for-sale Securities | 0 | 0 | 0 | ||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||
Total before tax | 5,850,000 | 5,678,000 | 5,563,000 | 5,687,000 | 5,574,000 | 6,268,000 | 6,645,000 | 6,290,000 | 22,778,000 | 24,777,000 | 31,131,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Realized gains on available-for-sale securities, net | -1,104,000 | ||||||||||
Income tax provision | 386,000 | 601,000 | |||||||||
Net income | -718,000 | -1,117,000 | |||||||||
Unrealized gains and losses on available-for-sale Securities | 25,000 | ||||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||
Total before tax | -1,718,000 | ||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Income tax provision | -65,000 | -1,000 | |||||||||
Net income | 119,000 | 1,000 | |||||||||
Amortization of defined benefit pension and postretirement items: | |||||||||||
Prior service cost | -31,000 | -31,000 | |||||||||
Actuarial loss | 19,000 | 33,000 | |||||||||
Loss on settlement | 196,000 | ||||||||||
Total before tax | 184,000 | 2,000 | |||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Realized gains on available-for-sale securities, net | -1,743,000 | ||||||||||
Net income | ($599,000) | ($1,116,000) |
Note_4_Per_Share_Data_Details
Note 4 - Per Share Data (Details) (Equity Option [Member]) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Equity Option [Member] | |||
Note 4 - Per Share Data (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 151,310 | 88,521 | 145,333 |
Note_4_Per_Share_Data_Details_
Note 4 - Per Share Data (Details) - Net Income Per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
2014 | |||||||||||
Net income (in Dollars) | $4,368,000 | $4,267,000 | $4,163,000 | $4,288,000 | $4,225,000 | $4,689,000 | $4,974,000 | $4,706,000 | $17,086,000 | $18,594,000 | $22,705,000 |
Weighted average common shares - basic | 12,390,067 | 12,352,383 | 12,235,748 | ||||||||
Earnings per share b basic (in Dollars per share) | $0.36 | $0.34 | $0.33 | $0.35 | $0.34 | $0.38 | $0.40 | $0.38 | $1.38 | $1.51 | $1.86 |
Dilutive effect of potential common stock arising from stock options: | |||||||||||
Exercise of outstanding stock options | 224,015 | 250,236 | 200,589 | ||||||||
Hypothetical share repurchase | -202,032 | -219,829 | -176,129 | ||||||||
Weighted average common shares - diluted | 12,412,050 | 12,382,790 | 12,260,208 | ||||||||
Earnings per share b diluted (in Dollars per share) | $1.38 | $1.50 | $1.85 |
Note_4_Per_Share_Data_Details_1
Note 4 - Per Share Data (Details) - Net Income Per Share (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Net Income Per Share [Abstract] | |||
Hypothetical share repurchase | $19.41 | $19.86 | $19.16 |
Note_5_Cash_and_Due_from_Banks2
Note 5 - Cash and Due from Banks (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and Cash Equivalents [Abstract] | ||
Restricted Cash and Cash Equivalents, Current | $16,853,000 | $15,318,000 |
Note_5_Cash_and_Due_from_Banks3
Note 5 - Cash and Due from Banks (Details) - Cash and Due From Banks (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and Due from Banks [Abstract] | ||
Cash and cash equivalents | $31,619 | $38,591 |
Certificates of deposit | 4,428 | 6,028 |
Total cash and due from banks | $36,047 | $44,619 |
Note_6_Fair_Value_Measurements2
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Disclosures [Abstract] | |||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $0 | $0 | $0 |
Note_6_Fair_Value_Measurements3
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Assets Measured at Fair Value (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | $516,807,000 | $482,658,000 |
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,241,000 | 9,889,000 |
Valuation allowance | -769,000 | -2,333,000 |
Foreclosed assets held for sale | 1,189,000 | 892,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,676,000 | 45,877,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,676,000 | 45,877,000 |
US Government Agencies Debt Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,676,000 | 45,877,000 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 124,839,000 | 128,426,000 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 124,839,000 | 128,426,000 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 124,839,000 | 128,426,000 |
Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 33,878,000 | 34,471,000 |
Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 33,878,000 | 34,471,000 |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 33,878,000 | 34,471,000 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 83,903,000 | 86,208,000 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 83,903,000 | 86,208,000 |
Collateralized Mortgage Backed Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 83,903,000 | 86,208,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 238,823,000 | 178,092,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 238,823,000 | 178,092,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 238,823,000 | 178,092,000 |
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34,000 | 660,000 |
Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34,000 | 660,000 |
Collateralized Debt Obligations [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34,000 | 660,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 508,153,000 | 473,734,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 508,153,000 | 473,734,000 |
Debt Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 508,153,000 | 473,734,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 8,654,000 | 8,924,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 8,654,000 | 8,924,000 |
Equity Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 8,654,000 | 8,924,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 8,654,000 | 8,924,000 |
Servicing rights | 0 | 0 |
Total recurring fair value measurements | 8,654,000 | 8,924,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed assets held for sale | 0 | 0 |
Total nonrecurring fair value measurements | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 508,153,000 | 473,734,000 |
Servicing rights | 0 | 0 |
Total recurring fair value measurements | 508,153,000 | 473,734,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed assets held for sale | 0 | 0 |
Total nonrecurring fair value measurements | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 516,807,000 | 482,658,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Servicing rights | 1,281,000 | 1,123,000 |
Total recurring fair value measurements | 1,281,000 | 1,123,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,241,000 | 9,889,000 |
Valuation allowance | -769,000 | -2,333,000 |
Impaired loans, net | 2,472,000 | 7,556,000 |
Foreclosed assets held for sale | 1,189,000 | 892,000 |
Total nonrecurring fair value measurements | 3,661,000 | 8,448,000 |
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 516,807,000 | 482,658,000 |
Servicing rights | 1,281,000 | 1,123,000 |
Total recurring fair value measurements | 518,088,000 | 483,781,000 |
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,241,000 | 9,889,000 |
Valuation allowance | -769,000 | -2,333,000 |
Impaired loans, net | 2,472,000 | 7,556,000 |
Foreclosed assets held for sale | 1,189,000 | 892,000 |
Total nonrecurring fair value measurements | $3,661,000 | $8,448,000 |
Note_6_Fair_Value_Measurements4
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Servicing Rights Asset [Member] | ||
Asset | ||
Fair value of asset (in Dollars) | $1,281,000 | $1,123,000 |
Discount rate | 10.00% | 12.00% |
Loan prepayment speeds | 156.00% | 152.00% |
Servicing fees of loan balances | 0.25% | 0.25% |
Servicing fees of payments are late | 4.00% | |
Servicing late fees assessed | 5.00% | 5.00% |
Miscellaneous servicing fees per account per month (in Dollars) | 1.94 | 1.94 |
Monthly servicing cost per account (in Dollars) | 6 | 6 |
Additional monthly servicing cost per loan on loans more than 30 days delinquent (in Dollars) | $24 | $24 |
Servicing costs of loans more than 30 days delinquent | 1.50% | 1.50% |
Annual increase in servicing costs | 3.00% | 3.00% |
Pooled Trust Preferred Securities Senior Tranches [Member] | ||
Asset | ||
Servicing fees of payments are late | 4.00% |
Note_6_Fair_Value_Measurements5
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Reconciliation of Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Inputs, Level 3 [Member] | Servicing Rights Asset [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Balance, beginning of period | $1,123 | $605 | $375 |
Issuances of servicing rights | 185 | 451 | 418 |
Unrealized losses included in earnings | -27 | 67 | -188 |
Balance, end of period | 1,281 | 1,123 | 605 |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Balance, beginning of period | 2,218 | 5,743 | |
Issuances of servicing rights | 451 | 418 | |
Unrealized losses included in earnings | 67 | -188 | |
Balance, end of period | 1,123 | 2,218 | |
Servicing Rights Asset [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Balance, end of period | $1,281 | $1,123 |
Note_6_Fair_Value_Measurements6
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Reconciliation of Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Accretion and amortization, net | ($1,375,000) | ($1,836,000) | ($1,581,000) | ||||||||
Realized gains, net | 210,000 | 760,000 | 103,000 | 31,000 | 266,000 | 193,000 | 100,000 | 1,159,000 | 1,104,000 | 1,718,000 | 2,682,000 |
Fair Value, Inputs, Level 3 [Member] | Pooled Trust Preferred Securities Senior Tranches [Member] | |||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Balance, beginning of period | 1,613,000 | 1,613,000 | 4,638,000 | ||||||||
Issuances of servicing rights | 0 | 0 | |||||||||
Accretion and amortization, net | -2,000 | -8,000 | |||||||||
Proceeds from sales and calls | -1,636,000 | -3,429,000 | |||||||||
Realized gains, net | 23,000 | 56,000 | |||||||||
Unrealized losses included in earnings | 0 | 0 | |||||||||
Unrealized gains (losses) included in other comprehensive income | 2,000 | 356,000 | |||||||||
Balance, end of period | 0 | 0 | 1,613,000 | ||||||||
Fair Value, Inputs, Level 3 [Member] | Pooled Trust Preferred Securities Mezzanine Tranches [Member] | |||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Balance, beginning of period | 0 | 0 | 730,000 | ||||||||
Issuances of servicing rights | 0 | 0 | |||||||||
Accretion and amortization, net | 0 | 0 | |||||||||
Proceeds from sales and calls | -571,000 | -1,835,000 | |||||||||
Realized gains, net | 571,000 | 1,835,000 | |||||||||
Unrealized losses included in earnings | 0 | 0 | |||||||||
Unrealized gains (losses) included in other comprehensive income | 0 | -730,000 | |||||||||
Balance, end of period | 0 | 0 | 0 | ||||||||
Fair Value, Inputs, Level 3 [Member] | Servicing Rights Asset [Member] | |||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Balance, beginning of period | 1,123,000 | 605,000 | 1,123,000 | 605,000 | 375,000 | ||||||
Issuances of servicing rights | 185,000 | 451,000 | 418,000 | ||||||||
Accretion and amortization, net | 0 | 0 | |||||||||
Proceeds from sales and calls | 0 | 0 | |||||||||
Realized gains, net | 0 | 0 | |||||||||
Unrealized losses included in earnings | -27,000 | 67,000 | -188,000 | ||||||||
Unrealized gains (losses) included in other comprehensive income | 0 | 0 | |||||||||
Balance, end of period | 1,281,000 | 1,123,000 | 1,281,000 | 1,123,000 | 605,000 | ||||||
Fair Value, Inputs, Level 3 [Member] | |||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Balance, beginning of period | 2,218,000 | 2,218,000 | 5,743,000 | ||||||||
Issuances of servicing rights | 451,000 | 418,000 | |||||||||
Accretion and amortization, net | -2,000 | -8,000 | |||||||||
Proceeds from sales and calls | -2,207,000 | -5,264,000 | |||||||||
Realized gains, net | 594,000 | 1,891,000 | |||||||||
Unrealized losses included in earnings | 67,000 | -188,000 | |||||||||
Unrealized gains (losses) included in other comprehensive income | 2,000 | -374,000 | |||||||||
Balance, end of period | 1,123,000 | 1,123,000 | 2,218,000 | ||||||||
Servicing Rights Asset [Member] | |||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||
Balance, end of period | $1,281,000 | $1,123,000 | $1,281,000 | $1,123,000 |
Note_6_Fair_Value_Measurements7
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Estimated Fair Values, and Related Carrying Amounts, of the Financial Instruments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financial assets: | ||||
Cash and cash equivalents | $31,619,000 | $38,591,000 | $55,016,000 | $56,815,000 |
Certificates of deposit | 4,428,000 | 6,028,000 | ||
Available-for-sale securities | 516,807,000 | 482,658,000 | ||
Loans, net | 623,209,000 | 635,640,000 | ||
Accrued interest receivable | 3,908,000 | 4,146,000 | ||
Financial liabilities: | ||||
Time deposits | 238,937,000 | |||
Short-term borrowings | 5,537,000 | 23,385,000 | ||
Long-term borrowings | 73,060,000 | 73,338,000 | ||
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 31,619,000 | 38,591,000 | ||
Loans held for sale | 0 | 54,000 | ||
Accrued interest receivable | 3,908,000 | 4,146,000 | ||
Financial liabilities: | ||||
Deposits with no stated maturity | 729,052,000 | 693,479,000 | ||
Accrued interest payable | 104,000 | 120,000 | ||
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 31,619,000 | 38,591,000 | ||
Loans held for sale | 0 | 54,000 | ||
Accrued interest receivable | 3,908,000 | 4,146,000 | ||
Financial liabilities: | ||||
Deposits with no stated maturity | 729,052,000 | 693,479,000 | ||
Accrued interest payable | 104,000 | 120,000 | ||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Certificates of deposit | 4,428,000 | 6,028,000 | ||
Available-for-sale securities | 516,807,000 | 482,658,000 | ||
Restricted equity securities (included in Other Assets) | 1,584,000 | 3,786,000 | ||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Certificates of deposit | 4,443,000 | 6,057,000 | ||
Available-for-sale securities | 516,807,000 | 482,658,000 | ||
Restricted equity securities (included in Other Assets) | 1,584,000 | 3,786,000 | ||
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 623,209,000 | 635,640,000 | ||
Servicing rights | 1,281,000 | 1,123,000 | ||
Financial liabilities: | ||||
Time deposits | 238,937,000 | 261,037,000 | ||
Short-term borrowings | 5,537,000 | 23,385,000 | ||
Long-term borrowings | 73,060,000 | 73,338,000 | ||
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 629,267,000 | 634,937,000 | ||
Servicing rights | 1,281,000 | 1,123,000 | ||
Financial liabilities: | ||||
Time deposits | 239,712,000 | 262,376,000 | ||
Short-term borrowings | 5,473,000 | 23,356,000 | ||
Long-term borrowings | $78,866,000 | $79,400,000 |
Note_7_Securities_Details
Note 7 - Securities (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | |
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Available-for-sale Securities Pledged as Collateral | $369,945,000 | $323,613,000 | $369,945,000 | $323,613,000 | ||||||||
Municipal Debt Securities, at Carrying Value | 15,854,000 | 15,854,000 | ||||||||||
Available-for-sale Securities, Gross Realized Gains | 1,328,000 | 1,918,000 | 2,798,000 | |||||||||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 0 | 25,000 | 67,000 | |||||||||
Available-for-sale Securities, Gross Realized Gain (Loss) | 210,000 | 760,000 | 103,000 | 31,000 | 266,000 | 193,000 | 100,000 | 1,159,000 | 1,104,000 | 1,718,000 | 2,682,000 | |
US States and Political Subdivisions Debt Securities [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1,000 | 1,000 | ||||||||||
Pooled Trust Preferred Securities Mezzanine Tranches [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Gain (Loss) on Sale of Securities, Net | 1,754,000 | |||||||||||
Marketable Equity Securities [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | 25,000 | 67,000 | ||||||||||
Equity Securities [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | 9,000 | 9,000 | ||||||||||
Bank Stocks [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Available-for-sale Securities, Gross Realized Gain (Loss) | 363,000 | 1,018,000 | 538,000 | |||||||||
Federal Home Loan Bank of Pittsburgh [Member] | Other Assets [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Federal Home Loan Bank Stock | 1,454,000 | 3,656,000 | 1,454,000 | 3,656,000 | ||||||||
Federal Home Loan Bank of Pittsburgh [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Federal Home Loan Bank Stock | 1,454,000 | 3,656,000 | 1,454,000 | 3,656,000 | ||||||||
Trust Preferred Securities Subject to Mandatory Redemption [Member] | MMCAPS Funding I Ltd[Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Proceeds from (Repurchase of) Trust Preferred Securities | 1,636,000 | |||||||||||
Available-for-sale Securities, Gross Realized Gains | 23,000 | |||||||||||
Trust Preferred Securities Subject to Mandatory Redemption [Member] | Astoria Capital Trust [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Proceeds from (Repurchase of) Trust Preferred Securities | 5,171,000 | |||||||||||
Available-for-sale Securities, Gross Realized Gains | 13,000 | |||||||||||
ALESCO Preferred Funding IX Ltd [Member] | ||||||||||||
Note 7 - Securities (Details) [Line Items] | ||||||||||||
Gain (Loss) on Sale of Securities, Net | $571,000 |
Note_7_Securities_Details_Avai
Note 7 - Securities (Details) - Available-for-sale Securities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | $508,682 | $484,203 |
Available-for-sale securities, gross unrealized holding gains | 11,377 | 8,720 |
Available-for-sale securities, gross unrealized holding losses | -3,252 | -10,265 |
Available-for-sale securities, fair value | 516,807 | 482,658 |
US Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 27,221 | 47,382 |
Available-for-sale securities, gross unrealized holding gains | 38 | 282 |
Available-for-sale securities, gross unrealized holding losses | -583 | -1,787 |
Available-for-sale securities, fair value | 26,676 | 45,877 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 120,086 | 127,748 |
Available-for-sale securities, gross unrealized holding gains | 5,134 | 2,766 |
Available-for-sale securities, gross unrealized holding losses | -381 | -2,088 |
Available-for-sale securities, fair value | 124,839 | 128,426 |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 33,637 | 35,154 |
Available-for-sale securities, gross unrealized holding gains | 415 | 206 |
Available-for-sale securities, gross unrealized holding losses | -174 | -889 |
Available-for-sale securities, fair value | 33,878 | 34,471 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 82,479 | 84,849 |
Available-for-sale securities, gross unrealized holding gains | 1,493 | 1,819 |
Available-for-sale securities, gross unrealized holding losses | -69 | -460 |
Available-for-sale securities, fair value | 83,903 | 86,208 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 239,620 | 182,372 |
Available-for-sale securities, gross unrealized holding gains | 1,239 | 761 |
Available-for-sale securities, gross unrealized holding losses | -2,036 | -5,041 |
Available-for-sale securities, fair value | 238,823 | 178,092 |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 34 | 660 |
Available-for-sale securities, gross unrealized holding gains | 0 | 0 |
Available-for-sale securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale securities, fair value | 34 | 660 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 503,077 | 478,165 |
Available-for-sale securities, gross unrealized holding gains | 8,319 | 5,834 |
Available-for-sale securities, gross unrealized holding losses | -3,243 | -10,265 |
Available-for-sale securities, fair value | 508,153 | 473,734 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 5,605 | 6,038 |
Available-for-sale securities, gross unrealized holding gains | 3,058 | 2,886 |
Available-for-sale securities, gross unrealized holding losses | -9 | 0 |
Available-for-sale securities, fair value | $8,654 | $8,924 |
Note_7_Securities_Details_Avai1
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | $75,084 | $235,228 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -716 | -8,596 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 105,227 | 20,183 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -2,536 | -1,669 |
Available-for-sale securities with unrealized loss positions, fair value | 180,311 | 255,411 |
Available-for-sale securities with unrealized loss positions, unrealized losses | -3,252 | -10,265 |
US Government Agencies Debt Securities [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 0 | 22,489 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | 0 | -1,337 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 24,020 | 4,598 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -583 | -450 |
Available-for-sale securities with unrealized loss positions, fair value | 24,020 | 27,087 |
Available-for-sale securities with unrealized loss positions, unrealized losses | -583 | -1,787 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 11,898 | 44,285 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -289 | -1,425 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 6,991 | 5,808 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -92 | -663 |
Available-for-sale securities with unrealized loss positions, fair value | 18,889 | 50,093 |
Available-for-sale securities with unrealized loss positions, unrealized losses | -381 | -2,088 |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 4,240 | 20,873 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -22 | -766 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 9,159 | 2,378 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -152 | -123 |
Available-for-sale securities with unrealized loss positions, fair value | 13,399 | 23,251 |
Available-for-sale securities with unrealized loss positions, unrealized losses | -174 | -889 |
Collateralized Mortgage Backed Securities [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 0 | 34,377 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | 0 | -460 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 4,160 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -69 | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 4,160 | 34,377 |
Available-for-sale securities with unrealized loss positions, unrealized losses | -69 | -460 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 58,812 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -396 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 60,897 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -1,640 | |
Available-for-sale securities with unrealized loss positions, fair value | 119,709 | |
Available-for-sale securities with unrealized loss positions, unrealized losses | -2,036 | |
Debt Securities [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 74,950 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -707 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 105,227 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -2,536 | |
Available-for-sale securities with unrealized loss positions, fair value | 180,177 | |
Available-for-sale securities with unrealized loss positions, unrealized losses | -3,243 | |
Equity Securities [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 134 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -9 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | |
Available-for-sale securities with unrealized loss positions, fair value | 134 | |
Available-for-sale securities with unrealized loss positions, unrealized losses | -9 | |
Collateralized Debt Obligations Pooled Trust Preferred Securities Senior Tranches [Member] | ||
Note 7 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions [Line Items] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 113,204 | |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | -4,608 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 7,399 | |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | -433 | |
Available-for-sale securities with unrealized loss positions, fair value | 120,603 | |
Available-for-sale securities with unrealized loss positions, unrealized losses | ($5,041) |
Note_7_Securities_Details_Gros
Note 7 - Securities (Details) - Gross Realized Gains and Losses from Available-for-sale Securities (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Gross Realized Gains and Losses from Available-for-sale Securities [Abstract] | |||||||||||
Gross realized gains from sales | $1,328 | $1,918 | $2,798 | ||||||||
Gross realized losses from sales | -224 | -175 | -49 | ||||||||
Losses from OTTI Impairment | 0 | -25 | -67 | ||||||||
Net realized gains | 210 | 760 | 103 | 31 | 266 | 193 | 100 | 1,159 | 1,104 | 1,718 | 2,682 |
Income tax provision related to net realized gains | $386 | $601 | $939 |
Note_7_Securities_Details_Avai2
Note 7 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 7 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Due in one year or less | $7,909 |
Due in one year or less | 7,992 |
Due from one year through five years | 55,499 |
Due from one year through five years | 55,826 |
Due from five years through ten years | 61,737 |
Due from five years through ten years | 62,306 |
Due after ten years | 55,833 |
Due after ten years | 59,303 |
Subtotal | 180,978 |
Subtotal | 185,427 |
Total | 503,077 |
Total | 508,153 |
Collateralized Mortgage Obligations [Member] | |
Note 7 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Available-for-sale debt securities, amortized cost | 82,479 |
Available-for-sale debt securities, fair value | 83,903 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |
Note 7 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Available-for-sale debt securities, amortized cost | 239,620 |
Available-for-sale debt securities, fair value | $238,823 |
Note_7_Securities_Details_Net_
Note 7 - Securities (Details) - Net Impairment Losses Recognized in Earnings (Marketable Equity Securities [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Marketable Equity Securities [Member] | |||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |||
Marketable equity securities (bank stocks) | $0 | ($25) | ($67) |
Note_8_Loans_Details
Note 8 - Loans (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||
Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2011 | |
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | $6,857,000 | 7,336,000 | 8,663,000 | $7,705,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||
Reduction in Payment Amount [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Interest Only Payments [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 14 | |||
Interest Rate Deduction [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | |||
Maturity Date Extension [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 3 | ||||
Troubled Debt Restructuring [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 0 | ||||
Payments of Interest Only Missed [Member] | Agricultural Loans [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Residential Mortgage [Member] | First Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Residential Mortgage [Member] | Second Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Residential Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Loans Secured by Farmland [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Commercial Loans Secured by Real Estate [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Payments of Interest Only Missed [Member] | Commercial Loans Secured by Real Estate [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | ||||
Monthly Payments Missed [Member] | Residential Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Subsequent Default [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Allowance for Credit Losses, Change in Method of Calculating Impairment (in Dollars) | 0 | 0 | |||
Agricultural Loans [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 27,000 | 31,000 | 30,000 | 27,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | |||
Residential Mortgage [Member] | First Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 3 | 6 | |||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 2,619,000 | 2,941,000 | 2,974,000 | 3,026,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 1 | |||
Residential Mortgage [Member] | Second Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 3 | ||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 247,000 | 176,000 | 294,000 | 266,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||
Residential Mortgage [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 3,217,000 | 3,653,000 | 3,705,000 | 3,602,000 | |
Loans Secured by Farmland [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 4 | ||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 129,000 | 165,000 | 115,000 | 126,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 4 | ||||
Financing Receivable, Modifications, Recorded Investment (in Dollars) | 75,000 | ||||
Commercial Loans Secured by Real Estate [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 5 | 2 | |||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 1,930,000 | 1,758,000 | 3,123,000 | 2,004,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 2 | |||
Commercial Loans Secured by Real Estate [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 6 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down (in Dollars) | 1,486,000 | ||||
Financing Receivable, Allowance for Credit Losses (in Dollars) | 0 | 1,552,000 | |||
Loans Receivable [Member] | Credit Availability Concentration Risk [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Concentration Risk, Percentage | 0.00% | ||||
Minimum [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Individually Evaluated for Impairment, Threshold With Extension of Credit (in Dollars) | 200,000 | ||||
Financing Receivable, Individually Evaluated for Impairment, Estimated Loss Trigger (in Dollars) | 100,000 | ||||
Maximum [Member] | |||||
Note 8 - Loans (Details) [Line Items] | |||||
Financing Receivable, Individually Evaluated for Impairment, Threshold With Estimated Loss (in Dollars) | 200,000 |
Note_8_Loans_Details_Loans_Rec
Note 8 - Loans (Details) - Loans Receivable (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential mortgage: | ||
Loans receivable | $630,545 | $644,303 |
Less: allowance for loan losses | -7,336 | |
Loans, net | 623,209 | 635,640 |
Residential Mortgage [Member] | First Mortgage [Member] | ||
Residential mortgage: | ||
Loans receivable | 291,882 | 299,831 |
Residential Mortgage [Member] | Second Mortgage [Member] | ||
Residential mortgage: | ||
Loans receivable | 21,166 | 23,040 |
Residential Mortgage [Member] | Construction Loans [Member] | ||
Residential mortgage: | ||
Loans receivable | 16,739 | 13,909 |
Residential Mortgage [Member] | ||
Residential mortgage: | ||
Loans receivable | 366,416 | 371,310 |
Home Equity Line of Credit [Member] | ||
Residential mortgage: | ||
Loans receivable | 36,629 | 34,530 |
Commercial Loans Secured by Real Estate [Member] | ||
Residential mortgage: | ||
Loans receivable | 145,878 | 147,215 |
Commercial and Industrial [Member] | ||
Residential mortgage: | ||
Loans receivable | 50,157 | 42,387 |
Political Subdivisions [Member] | ||
Residential mortgage: | ||
Loans receivable | 17,534 | 16,291 |
Commercial Construction and Land [Member] | ||
Residential mortgage: | ||
Loans receivable | 6,938 | 17,003 |
Loans Secured by Farmland [Member] | ||
Residential mortgage: | ||
Loans receivable | 7,916 | 10,468 |
Multi-family (5 or more) Residential [Member] | ||
Residential mortgage: | ||
Loans receivable | 8,917 | |
Agricultural Loans [Member] | ||
Residential mortgage: | ||
Loans receivable | 3,221 | 3,251 |
Other Commercial Loans [Member] | ||
Residential mortgage: | ||
Loans receivable | 13,334 | 14,631 |
Commercial Loan [Member] | ||
Residential mortgage: | ||
Loans receivable | 253,895 | 262,231 |
Consumer Loan [Member] | ||
Residential mortgage: | ||
Loans receivable | $10,234 | $10,762 |
Note_8_Loans_Details_Allowance
Note 8 - Loans (Details) - Allowance for Loan Losses (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Residential mortgage: | |||||||||||
Allowance for loan losses | $8,663,000 | $6,857,000 | $8,663,000 | $6,857,000 | $7,705,000 | ||||||
Allowance for loan losses, charge-offs | -2,139,000 | -671,000 | -1,221,000 | ||||||||
Allowance for loan losses, recoveries | 336,000 | 430,000 | 85,000 | ||||||||
Allowance for loan losses, provision (credit) | 123,000 | 218,000 | 446,000 | -311,000 | 1,559,000 | 239,000 | 66,000 | 183,000 | 476,000 | 2,047,000 | 288,000 |
Allowance for loan losses | 7,336,000 | 8,663,000 | 7,336,000 | 8,663,000 | 6,857,000 | ||||||
Residential Mortgage [Member] | First Mortgage [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 2,974,000 | 2,619,000 | 2,974,000 | 2,619,000 | 3,026,000 | ||||||
Allowance for loan losses, charge-offs | -164,000 | -84,000 | -543,000 | ||||||||
Allowance for loan losses, recoveries | 25,000 | 24,000 | 18,000 | ||||||||
Allowance for loan losses, provision (credit) | 106,000 | 415,000 | 118,000 | ||||||||
Allowance for loan losses | 2,941,000 | 2,974,000 | 2,941,000 | 2,974,000 | 2,619,000 | ||||||
Residential Mortgage [Member] | Second Mortgage [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 294,000 | 247,000 | 294,000 | 247,000 | 266,000 | ||||||
Allowance for loan losses, charge-offs | -101,000 | 0 | -9,000 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | -17,000 | 47,000 | -10,000 | ||||||||
Allowance for loan losses | 176,000 | 294,000 | 176,000 | 294,000 | 247,000 | ||||||
Residential Mortgage [Member] | Construction Loans [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 168,000 | 96,000 | 168,000 | 96,000 | 79,000 | ||||||
Allowance for loan losses, charge-offs | 0 | -11,000 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 46,000 | 83,000 | 17,000 | ||||||||
Allowance for loan losses | 214,000 | 168,000 | 214,000 | 168,000 | 96,000 | ||||||
Residential Mortgage [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 3,705,000 | 3,217,000 | 3,705,000 | 3,217,000 | 3,602,000 | ||||||
Allowance for loan losses, charge-offs | -327,000 | -95,000 | -552,000 | ||||||||
Allowance for loan losses, recoveries | 25,000 | 24,000 | 18,000 | ||||||||
Allowance for loan losses, provision (credit) | 250,000 | 559,000 | 149,000 | ||||||||
Allowance for loan losses | 3,653,000 | 3,705,000 | 3,653,000 | 3,705,000 | 3,217,000 | ||||||
Home Equity Line of Credit [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 269,000 | 255,000 | 269,000 | 255,000 | 231,000 | ||||||
Allowance for loan losses, charge-offs | -62,000 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 115,000 | 14,000 | 24,000 | ||||||||
Allowance for loan losses | 322,000 | 269,000 | 322,000 | 269,000 | 255,000 | ||||||
Commercial Loans Secured by Real Estate [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 3,123,000 | 1,930,000 | 3,123,000 | 1,930,000 | 2,004,000 | ||||||
Allowance for loan losses, charge-offs | -1,521,000 | -169,000 | 0 | ||||||||
Allowance for loan losses, recoveries | 250,000 | 344,000 | 1,000 | ||||||||
Allowance for loan losses, provision (credit) | -94,000 | 1,018,000 | -75,000 | ||||||||
Allowance for loan losses | 1,758,000 | 3,123,000 | 1,758,000 | 3,123,000 | 1,930,000 | ||||||
Commercial and Industrial [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 591,000 | 581,000 | 591,000 | 581,000 | 946,000 | ||||||
Allowance for loan losses, charge-offs | -24,000 | -286,000 | -57,000 | ||||||||
Allowance for loan losses, recoveries | 9,000 | 4,000 | 7,000 | ||||||||
Allowance for loan losses, provision (credit) | 112,000 | 292,000 | -315,000 | ||||||||
Allowance for loan losses | 688,000 | 591,000 | 688,000 | 591,000 | 581,000 | ||||||
Political Subdivisions [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 0 | 0 | 0 | ||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial Construction and Land [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 267,000 | 234,000 | 267,000 | 234,000 | 267,000 | ||||||
Allowance for loan losses, charge-offs | -170,000 | -4,000 | -441,000 | ||||||||
Allowance for loan losses, recoveries | 5,000 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 181,000 | 37,000 | 408,000 | ||||||||
Allowance for loan losses | 283,000 | 267,000 | 283,000 | 267,000 | 234,000 | ||||||
Loans Secured by Farmland [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 115,000 | 129,000 | 115,000 | 129,000 | 126,000 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 50,000 | -14,000 | 3,000 | ||||||||
Allowance for loan losses | 165,000 | 115,000 | 165,000 | 115,000 | 129,000 | ||||||
Multi-family (5 or more) Residential [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 103,000 | 67,000 | 103,000 | 67,000 | 66,000 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | -16,000 | 36,000 | 1,000 | ||||||||
Allowance for loan losses | 87,000 | 103,000 | 87,000 | 103,000 | 67,000 | ||||||
Agricultural Loans [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 30,000 | 27,000 | 30,000 | 27,000 | 27,000 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | 1,000 | 3,000 | 0 | ||||||||
Allowance for loan losses | 31,000 | 30,000 | 31,000 | 30,000 | 27,000 | ||||||
Other Commercial Loans [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 138,000 | 3,000 | 138,000 | 3,000 | 5,000 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | -7,000 | 135,000 | -2,000 | ||||||||
Allowance for loan losses | 131,000 | 138,000 | 131,000 | 138,000 | 3,000 | ||||||
Commercial Loan [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 4,367,000 | 2,971,000 | 4,367,000 | 2,971,000 | 3,441,000 | ||||||
Allowance for loan losses, charge-offs | -1,715,000 | -459,000 | -498,000 | ||||||||
Allowance for loan losses, recoveries | 264,000 | 348,000 | 8,000 | ||||||||
Allowance for loan losses, provision (credit) | 227,000 | 1,507,000 | 20,000 | ||||||||
Allowance for loan losses | 3,143,000 | 4,367,000 | 3,143,000 | 4,367,000 | 2,971,000 | ||||||
Consumer Loan [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 193,000 | 228,000 | 193,000 | 228,000 | 228,000 | ||||||
Allowance for loan losses, charge-offs | -97,000 | -117,000 | -171,000 | ||||||||
Allowance for loan losses, recoveries | 47,000 | 58,000 | 59,000 | ||||||||
Allowance for loan losses, provision (credit) | 2,000 | 24,000 | 112,000 | ||||||||
Allowance for loan losses | 145,000 | 193,000 | 145,000 | 193,000 | 228,000 | ||||||
Unallocated [Member] | |||||||||||
Residential mortgage: | |||||||||||
Allowance for loan losses | 398,000 | 441,000 | 398,000 | 441,000 | 434,000 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision (credit) | -3,000 | -43,000 | 7,000 | ||||||||
Allowance for loan losses | $395,000 | $398,000 | $395,000 | $398,000 | $441,000 |
Note_8_Loans_Details_Outstandi
Note 8 - Loans (Details) - Outstanding Loans by Risk Rating (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential Mortgage: | ||
Loans receivable | $630,545 | $644,303 |
Residential Mortgage [Member] | First Mortgage [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 280,094 | 286,144 |
Residential Mortgage [Member] | First Mortgage [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 1,246 | 1,876 |
Residential Mortgage [Member] | First Mortgage [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 10,464 | 11,629 |
Residential Mortgage [Member] | First Mortgage [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 78 | 182 |
Residential Mortgage [Member] | First Mortgage [Member] | ||
Residential Mortgage: | ||
Loans receivable | 291,882 | 299,831 |
Residential Mortgage [Member] | Second Mortgage [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 20,502 | 21,694 |
Residential Mortgage [Member] | Second Mortgage [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 112 | 351 |
Residential Mortgage [Member] | Second Mortgage [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 552 | 995 |
Residential Mortgage [Member] | Second Mortgage [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Residential Mortgage [Member] | Second Mortgage [Member] | ||
Residential Mortgage: | ||
Loans receivable | 21,166 | 23,040 |
Residential Mortgage [Member] | Construction Loans [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 16,719 | 13,837 |
Residential Mortgage [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 20 | 0 |
Residential Mortgage [Member] | Construction Loans [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 72 |
Residential Mortgage [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Residential Mortgage [Member] | Construction Loans [Member] | ||
Residential Mortgage: | ||
Loans receivable | 16,739 | 13,909 |
Residential Mortgage [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 353,250 | 355,496 |
Residential Mortgage [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 1,672 | 2,522 |
Residential Mortgage [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 11,416 | 13,110 |
Residential Mortgage [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 78 | 182 |
Residential Mortgage [Member] | ||
Residential Mortgage: | ||
Loans receivable | 366,416 | 371,310 |
Home Equity Line of Credit [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 35,935 | 33,821 |
Home Equity Line of Credit [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 294 | 295 |
Home Equity Line of Credit [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 400 | 414 |
Home Equity Line of Credit [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Home Equity Line of Credit [Member] | ||
Residential Mortgage: | ||
Loans receivable | 36,629 | 34,530 |
Commercial Loans Secured by Real Estate [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 133,204 | 129,834 |
Commercial Loans Secured by Real Estate [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 2,775 | 5,866 |
Commercial Loans Secured by Real Estate [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 9,899 | 11,368 |
Commercial Loans Secured by Real Estate [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 147 |
Commercial Loans Secured by Real Estate [Member] | ||
Residential Mortgage: | ||
Loans receivable | 145,878 | 147,215 |
Commercial and Industrial [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 41,751 | 32,317 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 7,246 | 6,697 |
Commercial and Industrial [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 1,042 | 3,138 |
Commercial and Industrial [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 118 | 235 |
Commercial and Industrial [Member] | ||
Residential Mortgage: | ||
Loans receivable | 50,157 | 42,387 |
Political Subdivisions [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 17,534 | 16,291 |
Political Subdivisions [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Political Subdivisions [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Political Subdivisions [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Political Subdivisions [Member] | ||
Residential Mortgage: | ||
Loans receivable | 17,534 | 16,291 |
Commercial Construction and Land [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 4,650 | 13,792 |
Commercial Construction and Land [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 266 | 427 |
Commercial Construction and Land [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 2,022 | 2,036 |
Commercial Construction and Land [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 748 |
Commercial Construction and Land [Member] | ||
Residential Mortgage: | ||
Loans receivable | 6,938 | 17,003 |
Loans Secured by Farmland [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 5,990 | 8,279 |
Loans Secured by Farmland [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 433 | 758 |
Loans Secured by Farmland [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 1,468 | 1,402 |
Loans Secured by Farmland [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 25 | 29 |
Loans Secured by Farmland [Member] | ||
Residential Mortgage: | ||
Loans receivable | 7,916 | 10,468 |
Multi-family (5 or more) Residential [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 8,629 | 10,665 |
Multi-family (5 or more) Residential [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 288 | 316 |
Multi-family (5 or more) Residential [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 4 |
Multi-family (5 or more) Residential [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Multi-family (5 or more) Residential [Member] | ||
Residential Mortgage: | ||
Loans receivable | 8,917 | 10,985 |
Agricultural Loans [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 3,196 | 3,169 |
Agricultural Loans [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 34 |
Agricultural Loans [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 25 | 48 |
Agricultural Loans [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Agricultural Loans [Member] | ||
Residential Mortgage: | ||
Loans receivable | 3,221 | 3,251 |
Other Commercial Loans [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 13,248 | 14,532 |
Other Commercial Loans [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 86 | 99 |
Other Commercial Loans [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Other Commercial Loans [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Other Commercial Loans [Member] | ||
Residential Mortgage: | ||
Loans receivable | 13,334 | 14,631 |
Commercial Loan [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 228,202 | 228,879 |
Commercial Loan [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 11,094 | 14,197 |
Commercial Loan [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 14,456 | 17,996 |
Commercial Loan [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 143 | 1,159 |
Commercial Loan [Member] | ||
Residential Mortgage: | ||
Loans receivable | 253,895 | 262,231 |
Consumer Loan [Member] | Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 10,095 | 10,587 |
Consumer Loan [Member] | Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 22 | 6 |
Consumer Loan [Member] | Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 117 | 169 |
Consumer Loan [Member] | Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | 0 | 0 |
Consumer Loan [Member] | ||
Residential Mortgage: | ||
Loans receivable | 10,234 | 10,762 |
Pass [Member] | ||
Residential Mortgage: | ||
Loans receivable | 591,547 | 594,962 |
Special Mention [Member] | ||
Residential Mortgage: | ||
Loans receivable | 12,788 | 16,725 |
Substandard [Member] | ||
Residential Mortgage: | ||
Loans receivable | 25,989 | 31,275 |
Doubtful [Member] | ||
Residential Mortgage: | ||
Loans receivable | $221 | $1,341 |
Note_8_Loans_Details_Loan_Bala
Note 8 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Residential mortgage: | ||||
Loans receivable: individually evaluated | $12,316,000 | $16,321,000 | ||
Loans receivable: collectively evaluated | 618,229,000 | 627,982,000 | ||
Loans receivable | 630,545,000 | 644,303,000 | ||
Allowance for loan losses: individually evaluated | 769,000 | 2,333,000 | ||
Allowance for loan losses: collectively evaulated | 6,172,000 | 5,932,000 | ||
Allowance for loan losses | 7,336,000 | 8,663,000 | 6,857,000 | 7,705,000 |
Residential Mortgage [Member] | First Mortgage [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 1,665,000 | 2,727,000 | ||
Loans receivable: collectively evaluated | 290,217,000 | 297,104,000 | ||
Loans receivable | 291,882,000 | 299,831,000 | ||
Allowance for loan losses: individually evaluated | 358,000 | 449,000 | ||
Allowance for loan losses: collectively evaulated | 2,583,000 | 2,525,000 | ||
Allowance for loan losses | 2,941,000 | 2,974,000 | 2,619,000 | 3,026,000 |
Residential Mortgage [Member] | Second Mortgage [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 17,000 | 183,000 | ||
Loans receivable: collectively evaluated | 21,149,000 | 22,857,000 | ||
Loans receivable | 21,166,000 | 23,040,000 | ||
Allowance for loan losses: individually evaluated | 0 | 100,000 | ||
Allowance for loan losses: collectively evaulated | 176,000 | 194,000 | ||
Allowance for loan losses | 176,000 | 294,000 | 247,000 | 266,000 |
Residential Mortgage [Member] | Construction Loans [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 16,739,000 | 13,909,000 | ||
Loans receivable | 16,739,000 | 13,909,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 214,000 | 168,000 | ||
Allowance for loan losses | 214,000 | 168,000 | 96,000 | 79,000 |
Residential Mortgage [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 1,682,000 | 2,910,000 | ||
Loans receivable: collectively evaluated | 364,734,000 | 368,400,000 | ||
Loans receivable | 366,416,000 | 371,310,000 | ||
Allowance for loan losses: individually evaluated | 358,000 | 549,000 | ||
Allowance for loan losses: collectively evaulated | 3,295,000 | 3,156,000 | ||
Allowance for loan losses | 3,653,000 | 3,705,000 | 3,217,000 | 3,602,000 |
Home Equity Line of Credit [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 36,629,000 | 34,530,000 | ||
Loans receivable | 36,629,000 | 34,530,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 322,000 | 269,000 | ||
Allowance for loan losses | 322,000 | 269,000 | 255,000 | 231,000 |
Commercial Loans Secured by Real Estate [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 6,537,000 | 7,988,000 | ||
Loans receivable: collectively evaluated | 139,341,000 | 139,227,000 | ||
Loans receivable | 145,878,000 | 147,215,000 | ||
Allowance for loan losses: individually evaluated | 16,000 | 1,577,000 | ||
Allowance for loan losses: collectively evaulated | 1,742,000 | 1,546,000 | ||
Allowance for loan losses | 1,758,000 | 3,123,000 | 1,930,000 | 2,004,000 |
Commercial and Industrial [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 663,000 | 1,276,000 | ||
Loans receivable: collectively evaluated | 49,494,000 | 41,111,000 | ||
Loans receivable | 50,157,000 | 42,387,000 | ||
Allowance for loan losses: individually evaluated | 82,000 | 106,000 | ||
Allowance for loan losses: collectively evaulated | 606,000 | 485,000 | ||
Allowance for loan losses | 688,000 | 591,000 | 581,000 | 946,000 |
Political Subdivisions [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 17,534,000 | 16,291,000 | ||
Loans receivable | 17,534,000 | 16,291,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 0 | 0 | ||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Commercial Construction and Land [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 1,939,000 | 2,776,000 | ||
Loans receivable: collectively evaluated | 4,999,000 | 14,227,000 | ||
Loans receivable | 6,938,000 | 17,003,000 | ||
Allowance for loan losses: individually evaluated | 211,000 | 72,000 | ||
Allowance for loan losses: collectively evaulated | 72,000 | 195,000 | ||
Allowance for loan losses | 283,000 | 267,000 | 234,000 | 267,000 |
Loans Secured by Farmland [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 1,470,000 | 1,318,000 | ||
Loans receivable: collectively evaluated | 6,446,000 | 9,150,000 | ||
Loans receivable | 7,916,000 | 10,468,000 | ||
Allowance for loan losses: individually evaluated | 102,000 | 29,000 | ||
Allowance for loan losses: collectively evaulated | 63,000 | 86,000 | ||
Allowance for loan losses | 165,000 | 115,000 | 129,000 | 126,000 |
Multi-family (5 or more) Residential [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 8,917,000 | 10,985,000 | ||
Loans receivable | 8,917,000 | 10,985,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 87,000 | 103,000 | ||
Allowance for loan losses | 87,000 | 103,000 | ||
Agricultural Loans [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 25,000 | 48,000 | ||
Loans receivable: collectively evaluated | 3,196,000 | 3,203,000 | ||
Loans receivable | 3,221,000 | 3,251,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 31,000 | 30,000 | ||
Allowance for loan losses | 31,000 | 30,000 | 27,000 | 27,000 |
Other Commercial Loans [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 13,334,000 | 14,631,000 | ||
Loans receivable | 13,334,000 | 14,631,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 131,000 | 138,000 | ||
Allowance for loan losses | 131,000 | 138,000 | 3,000 | 5,000 |
Commercial Loan [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 10,634,000 | 13,406,000 | ||
Loans receivable: collectively evaluated | 243,261,000 | 248,825,000 | ||
Loans receivable | 253,895,000 | 262,231,000 | ||
Allowance for loan losses: individually evaluated | 411,000 | 1,784,000 | ||
Allowance for loan losses: collectively evaulated | 2,732,000 | 2,583,000 | ||
Allowance for loan losses | 3,143,000 | 4,367,000 | 2,971,000 | 3,441,000 |
Consumer Loan [Member] | ||||
Residential mortgage: | ||||
Loans receivable: individually evaluated | 0 | 5,000 | ||
Loans receivable: collectively evaluated | 10,234,000 | 10,757,000 | ||
Loans receivable | 10,234,000 | 10,762,000 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaulated | 145,000 | 193,000 | ||
Allowance for loan losses | 145,000 | 193,000 | 228,000 | 228,000 |
Unallocated [Member] | ||||
Residential mortgage: | ||||
Allowance for loan losses | $395,000 | $398,000 | $441,000 | $434,000 |
Note_8_Loans_Details_Impaired_
Note 8 - Loans (Details) - Impaired Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired Loans [Abstract] | ||
Impaired loans with a valuation allowance | $3,241 | $9,889 |
Impaired loans without a valuation allowance | 9,075 | 6,432 |
Total impaired loans | 12,316 | 16,321 |
Valuation allowance related to impaired loans | $769 | $2,333 |
Note_8_Loans_Details_Average_B
Note 8 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Abstract] | |||
Average investment in impaired loans | $14,359 | $9,690 | $7,209 |
Interest income recognized on impaired loans | 703 | 426 | 278 |
Interest income recognized on a cash basis on impaired loans | $703 | $426 | $278 |
Note_8_Loans_Details_Nonaccrua
Note 8 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | $2,843 | $3,131 |
Nonaccrual loans | 12,610 | 14,934 |
Residential Mortgage [Member] | First Mortgage [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 1,989 | 2,016 |
Nonaccrual loans | 3,440 | 3,533 |
Residential Mortgage [Member] | Second Mortgage [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 82 | 187 |
Nonaccrual loans | 50 | 110 |
Residential Mortgage [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 2,120 | 2,290 |
Nonaccrual loans | 3,512 | 3,777 |
Home Equity Line of Credit [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 49 | 87 |
Nonaccrual loans | 22 | 62 |
Family 1-4 Residential Construction [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 0 | 72 |
Commercial Loans Secured by Real Estate [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 653 | 744 |
Nonaccrual loans | 5,804 | 7,096 |
Commercial and Industrial [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 5 | 17 |
Nonaccrual loans | 379 | 434 |
Commercial Construction and Land [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 35 | 5 |
Nonaccrual loans | 1,915 | 2,663 |
Loans Secured by Farmland [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 951 | 902 |
Agricultural Loans [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 25 | 35 |
Commercial Loan [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 693 | 766 |
Nonaccrual loans | 9,074 | 11,130 |
Consumer Loan [Member] | ||
Residential mortgage: | ||
Loans past due 90+ days and accruing | 30 | 75 |
Nonaccrual loans | $24 | $27 |
Note_8_Loans_Details_Contractu
Note 8 - Loans (Details) - Contractual Aging of Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | $614,930 | $625,811 |
Loans past due 30-89 days | 7,490 | 8,784 |
Loans past due 90+ days | 8,125 | 9,708 |
Loans receivable | 630,545 | 644,303 |
Residential Mortgage [Member] | First Mortgage [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 282,766 | 289,483 |
Loans past due 30-89 days | 5,443 | 6,776 |
Loans past due 90+ days | 3,673 | 3,572 |
Loans receivable | 291,882 | 299,831 |
Residential Mortgage [Member] | Second Mortgage [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 20,853 | 22,247 |
Loans past due 30-89 days | 190 | 506 |
Loans past due 90+ days | 123 | 287 |
Loans receivable | 21,166 | 23,040 |
Residential Mortgage [Member] | Construction Loans [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 16,739 | 13,837 |
Loans past due 30-89 days | 0 | 0 |
Loans past due 90+ days | 0 | 72 |
Loans receivable | 16,739 | 13,909 |
Residential Mortgage [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 356,658 | 359,830 |
Loans past due 30-89 days | 5,891 | 7,400 |
Loans past due 90+ days | 3,867 | 4,080 |
Loans receivable | 366,416 | 371,310 |
Home Equity Line of Credit [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 36,300 | 34,263 |
Loans past due 30-89 days | 258 | 118 |
Loans past due 90+ days | 71 | 149 |
Loans receivable | 36,629 | 34,530 |
Commercial Loans Secured by Real Estate [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 143,713 | 145,055 |
Loans past due 30-89 days | 883 | 405 |
Loans past due 90+ days | 1,282 | 1,755 |
Loans receivable | 145,878 | 147,215 |
Commercial and Industrial [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 49,994 | 41,730 |
Loans past due 30-89 days | 43 | 434 |
Loans past due 90+ days | 120 | 223 |
Loans receivable | 50,157 | 42,387 |
Political Subdivisions [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 17,534 | 16,291 |
Loans past due 30-89 days | 0 | 0 |
Loans past due 90+ days | 0 | 0 |
Loans receivable | 17,534 | 16,291 |
Commercial Construction and Land [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 4,897 | 14,303 |
Loans past due 30-89 days | 91 | 32 |
Loans past due 90+ days | 1,950 | 2,668 |
Loans receivable | 6,938 | 17,003 |
Loans Secured by Farmland [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 6,811 | 9,267 |
Loans past due 30-89 days | 254 | 329 |
Loans past due 90+ days | 851 | 872 |
Loans receivable | 7,916 | 10,468 |
Multi-family (5 or more) Residential [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 8,720 | 10,985 |
Loans past due 30-89 days | 197 | 0 |
Loans past due 90+ days | 0 | 0 |
Loans receivable | 8,917 | 10,985 |
Agricultural Loans [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 3,105 | 3,203 |
Loans past due 30-89 days | 91 | 13 |
Loans past due 90+ days | 25 | 35 |
Loans receivable | 3,221 | 3,251 |
Other Commercial Loans [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 13,334 | 14,631 |
Loans past due 30-89 days | 0 | 0 |
Loans past due 90+ days | 0 | 0 |
Loans receivable | 13,334 | 14,631 |
Commercial Loan [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 248,108 | 255,465 |
Loans past due 30-89 days | 1,559 | 1,213 |
Loans past due 90+ days | 4,228 | 5,553 |
Loans receivable | 253,895 | 262,231 |
Consumer Loan [Member] | ||
Residential mortgage: | ||
Loans current & past due less than 30 days | 10,164 | 10,516 |
Loans past due 30-89 days | 40 | 171 |
Loans past due 90+ days | 30 | 75 |
Loans receivable | $10,234 | $10,762 |
Note_8_Loans_Details_Contractu1
Note 8 - Loans (Details) - Contractual Aging of Nonaccrual Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 8 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due less than 30 days | $614,930 | $625,811 |
Loans past due 30-89 days | 7,490 | 8,784 |
Loans past due 90+ days | 8,125 | 9,708 |
Nonaccrual loans | 12,610 | 14,934 |
Nonaccrual Loans [Member] | ||
Note 8 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due less than 30 days | 6,959 | 7,878 |
Loans past due 30-89 days | 369 | 479 |
Loans past due 90+ days | 5,282 | 6,577 |
Nonaccrual loans | $12,610 | $14,934 |
Note_8_Loans_Details_Aging_of_
Note 8 - Loans (Details) - Aging of Troubled Debt Restructings (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | $614,930 | $625,811 |
Troubled debt restructurings, past due 30-89 days | 7,490 | 8,784 |
Troubled debt restructurings, past due 90+ days | 8,125 | 9,708 |
Troubled debt restructurings, nonaccrual | 12,610 | 14,934 |
Troubled Debt Restructuring [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 1,725 | 3,254 |
Troubled debt restructurings, past due 30-89 days | 82 | 13 |
Troubled debt restructurings, past due 90+ days | 0 | 0 |
Troubled debt restructurings, nonaccrual | 5,388 | 908 |
Troubled debt restructurings | $7,195 | $4,175 |
Note_8_Loans_Details_Troubled_
Note 8 - Loans (Details) - Troubled Debt Restructurings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Residential Mortgage [Member] | First Mortgage [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 3 | 6 | |
Troubled debt restructurings, pre-modification outstanding recorded investment | $150 | $677 | |
Troubled debt restructurings, post-modification outstanding recorded investment | 150 | 677 | |
Residential Mortgage [Member] | Second Mortgage [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 3 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 102 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 102 | ||
Commercial Loans Secured by Real Estate [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 5 | 2 | |
Troubled debt restructurings, pre-modification outstanding recorded investment | 6,679 | 866 | |
Troubled debt restructurings, post-modification outstanding recorded investment | 5,193 | 866 | |
Commercial and Industrial [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 1 | 3 | 1 |
Troubled debt restructurings, pre-modification outstanding recorded investment | 80 | 701 | 65 |
Troubled debt restructurings, post-modification outstanding recorded investment | 80 | 701 | 65 |
Loans Secured by Farmland [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 4 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 512 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 512 | ||
Agricultural Loans [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 1 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 13 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | 13 | ||
Consumer Loan [Member] | |||
Residential mortgage, | |||
Troubled debt restructurings, number of contracts | 1 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | 6 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | $6 |
Note_8_Loans_Details_Defaults_
Note 8 - Loans (Details) - Defaults on Loans with Previous Modifications (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 |
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 0 | ||
Residential Mortgage [Member] | First Mortgage [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 3 | 1 | |
Troubled debt restructuring defaults, recorded investment | $257 | $85 | |
Residential Mortgage [Member] | Second Mortgage [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 1 | ||
Troubled debt restructuring defaults, recorded investment | 62 | ||
Commercial Loans Secured by Real Estate [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 1 | 2 | |
Troubled debt restructuring defaults, recorded investment | 429 | 588 | |
Commercial Construction and Land [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 1 | 1 | |
Troubled debt restructuring defaults, recorded investment | 25 | 110 | |
Loans Secured by Farmland [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 4 | ||
Troubled debt restructuring defaults, recorded investment | 490 | ||
Agricultural Loans [Member] | |||
Residential mortgage: | |||
Troubled debt restructuring defaults, number of contracts | 1 | 1 | |
Troubled debt restructuring defaults, recorded investment | $13 | $13 |
Note_9_Bank_Premises_and_Equip2
Note 9 - Bank Premises and Equipment (Details) - Bank Premises and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | $47,301 | $46,776 |
Less: accumulated depreciation | -31,045 | -29,346 |
Net | 16,256 | 17,430 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | 2,818 | 2,818 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | 26,973 | 26,869 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | 17,412 | 17,087 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment | $98 | $2 |
Note_9_Bank_Premises_and_Equip3
Note 9 - Bank Premises and Equipment (Details) - Depreciation Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 9 - Bank Premises and Equipment (Details) - Depreciation Expense [Line Items] | |||
Depreciation expense | $1,940 | $2,020 | $1,939 |
Occupancy Expense [Member] | |||
Note 9 - Bank Premises and Equipment (Details) - Depreciation Expense [Line Items] | |||
Depreciation expense | 998 | 1,022 | 1,050 |
Furniture and Fixtures Expense [Member] | |||
Note 9 - Bank Premises and Equipment (Details) - Depreciation Expense [Line Items] | |||
Depreciation expense | $942 | $998 | $889 |
Note_10_Intangible_Assets_Deta
Note 10 - Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure Text Block [Abstract] | |||
Goodwill, Period Increase (Decrease) | $0 | $0 | |
Goodwill | 11,942,000 | 11,942,000 | |
Goodwill, Acquired During Period | 0 | 0 | |
Amortization of Intangible Assets | $35,000 | $51,000 | $74,000 |
Note_10_Intangible_Assets_Deta1
Note 10 - Intangible Assets (Details) - Core Deposit Intangibles (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Core Deposit Intangibles [Abstract] | ||
Gross amount | $2,034 | $2,034 |
Less: accumulated amortization | -1,982 | -1,947 |
Net | $52 | $87 |
Note_10_Intangible_Assets_Deta2
Note 10 - Intangible Assets (Details) - Estimated Amortization Expense (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Estimated Amortization Expense [Abstract] | |
2015 | $22 |
2016 | 12 |
2017 | 6 |
2018 | 4 |
2019 | $3 |
Note_11_Deposits_Details
Note 11 - Deposits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure Text Block [Abstract] | |||
Interest Expense, Time Deposits, $100,000 or More | $563,000 | $721,000 | $1,846,000 |
Note_11_Deposits_Details_Sched
Note 11 - Deposits (Details) - Scheduled Maturities of Time Deposits (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Scheduled Maturities of Time Deposits [Abstract] | |
2015 | $128,966 |
2016 | 64,850 |
2017 | 19,854 |
2018 | 12,128 |
2019 | 8,709 |
Thereafter | 4,430 |
$238,937 |
Note_11_Deposits_Details_Remai
Note 11 - Deposits (Details) - Remaining Maturities of Time Deposits In Excess of $100,000 (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Remaining Maturities of Time Deposits In Excess of $100,000 [Abstract] | |
Three months or less | $38,620 |
Over 3 months through 12 months | 8,910 |
Over 1 year through 3 years | 11,478 |
Over 3 years | 8,786 |
Total | $67,794 |
Note_12_Borrowed_Funds_Details
Note 12 - Borrowed Funds (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Short-term Debt, Weighted Average Interest Rate | 0.10% | 0.22% | |
Line of Credit Facility, Maximum Month-end Outstanding Amount | $7,919,000 | $23,385,000 | $20,120,000 |
Available-for-sale Securities Pledged as Collateral | 369,945,000 | 323,613,000 | |
Short-term Debt | 5,537,000 | 23,385,000 | |
Debt, Weighted Average Interest Rate | 3.60% | ||
Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned | 15,229,000 | 11,269,000 | |
Gain (Loss) on Repurchase of Debt Instrument | -1,023,000 | -2,333,000 | |
Debt Instrument, Repurchase Amount | 7,000,000 | ||
Securities Sold under Agreements to Repurchase, Asset | 70,982,000 | 79,814,000 | |
Repurchase Agreements [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Debt, Weighted Average Interest Rate | 4.02% | 4.01% | 3.97% |
Short-term Debt, Average Outstanding Amount | 61,000,000 | 62,630,000 | 78,790,000 |
Securities Sold under Agreements to Repurchase [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Short-term Debt | 5,537,000 | 3,385,000 | |
Debt, Weighted Average Interest Rate | 0.10% | 0.10% | |
Federal Home Loan Bank of Pittsburgh [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 446,780,000 | 453,792,000 | |
Federal Home Loan Bank Stock | 1,454,000 | 3,656,000 | |
Short-term Debt | 20,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.24% | ||
Maximum [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Securities Sold under Agreements to Repurchase | 61,000,000 | 68,000,000 | 85,000,000 |
Agreements Contractually Schedueled to Mature in 2017 [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Gain (Loss) on Repurchase of Debt Instrument | -2,190,000 | ||
Repayments of Debt | 12,000,000 | ||
Other Correspondent Banks [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 45,000,000 | 45,000,000 | |
Long-term Line of Credit | 0 | 0 | |
Federal Reserve Bank of Philadelphia [Member] | |||
Note 12 - Borrowed Funds (Details) [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 25,367,000 | 26,078,000 | |
Long-term Line of Credit | 0 | 0 | |
Available-for-sale Securities Pledged as Collateral | $26,092,000 | $27,188,000 |
Note_12_Borrowed_Funds_Details1
Note 12 - Borrowed Funds (Details) - Short-term Borrowings (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Short-term Debt [Line Items] | ||
Short-term borrowings | $5,537,000 | $23,385,000 |
Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank of Pittsburgh [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | 20,000,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 5,537,000 | 3,385,000 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | $20,000,000 |
Note_12_Borrowed_Funds_Details2
Note 12 - Borrowed Funds (Details) - Long-term Borrowings (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $73,060 | $73,338 |
Repurchase Agreements [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | 61,000 | 61,000 |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $12,060 | $12,338 |
Note_12_Borrowed_Funds_Details3
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | $73,060 | $73,338 |
Repurchase Agreements [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | 61,000 | 61,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2016 With Rate Of 6.86% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 107 | 153 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2017 With Rate Of 6.83% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 16 | 22 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2017 With Rate Of 3.81% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 10,000 | 10,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2020 With Rate Of 4.79% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 987 | 1,146 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2025 With Rate Of 4.91% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 950 | 1,017 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 12,060 | 12,338 |
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | 27,000 | 27,000 |
Repurchase Agreement Maturing in 2017 with a Rate of 4.265% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | $34,000 | $34,000 |
Note_12_Borrowed_Funds_Details4
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) | Dec. 31, 2014 | Dec. 31, 2013 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2016 With Rate Of 6.86% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 6.86% | 6.86% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2017 With Rate Of 6.83% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 6.83% | 6.83% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2017 With Rate Of 3.81% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 3.81% | 3.81% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2020 With Rate Of 4.79% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 4.79% | 4.79% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing In 2025 With Rate Of 4.91% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 4.91% | 4.91% |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 0.24% | |
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 3.60% | 3.60% |
Repurchase Agreement Maturing in 2017 with a Rate of 4.265% [Member] | ||
Note 12 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Interest rate | 4.27% | 4.27% |
Note_13_Employee_and_Postretir2
Note 13 - Employee and Postretirement Benefit Plans (Details) (USD $) | 0 Months Ended | 12 Months Ended | 2 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 27, 2015 | Dec. 31, 2015 | |
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Pension and Other Postretirement Benefit Contributions | $595,000 | $557,000 | $587,000 | |||
Employee Stock Ownership Plan (ESOP), Diversification Feature, Age Requirement | 55 | 55 | ||||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 10 years | |||||
Employee Stock Ownership Plan (ESOP), Diversification Feature, Percentage | 50.00% | 50.00% | ||||
Employee Stock Ownership Plan (ESOP), Diversification Feature, Term | 6 years | |||||
Employee Stock Ownership Plan (ESOP), Shares Repurchased (in Shares) | 0 | 0 | 0 | |||
Employee Stock Ownership Plan (ESOP), Shares in ESOP (in Shares) | 409,197 | 409,197 | 362,888 | |||
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP | 512,000 | 509,000 | 507,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years 146 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 668,000 | 668,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 90,000 | 29,000 | 72,000 | |||
Allocated Share-based Compensation Expense | 565,000 | 696,000 | 567,000 | |||
Equity Securities [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Target Plan Asset Allocations | 26.00% | 26.00% | ||||
Debt Securities [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Target Plan Asset Allocations | 61.00% | 61.00% | ||||
Alternative Funds [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Target Plan Asset Allocations | 11.00% | 11.00% | ||||
Cash and Cash Equivalents [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Target Plan Asset Allocations | 2.00% | 2.00% | ||||
Employee Stock Option [Member] | Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 6 months | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Employee Stock Option [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 39,027,000 | |||||
Allocated Share-based Compensation Expense | 153,000 | 242,000 | 247,000 | |||
Restricted Stock [Member] | Subsequent Event [Member] | Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 22,496 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Contingent Vesting Shares (in Shares) | 20,298 | |||||
Restricted Stock [Member] | Subsequent Event [Member] | Independent Directors Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 7,130 | |||||
Restricted Stock [Member] | Minimum [Member] | Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Restricted Stock [Member] | Maximum [Member] | Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||
Restricted Stock [Member] | Independent Directors Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Restricted Stock [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 604,000 | 604,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 6 months | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 16,711,000 | |||||
Allocated Share-based Compensation Expense | 412,000 | 454,000 | 320,000 | |||
Scenario, Forecast [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Allocated Share-based Compensation Expense | 628,000 | |||||
Pension Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Settlements, Benefit Obligation | 781,000 | 0 | ||||
Defined Benefit Plan, Benefits Paid, Percentage of Benefit Obligation | 42.00% | |||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | -196,000 | 0 | 0 | |||
Defined Benefit Plan, Future Amortization of Gain (Loss) | -10,000 | |||||
Defined Benefit Plan, Accumulated Benefit Obligation | 1,085,000 | 1,085,000 | 1,733,000 | |||
Other Postretirement Benefit Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | 0 | ||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | 0 | 0 | |||
Defined Benefit Plan, Future Amortization of Gain (Loss) | 0 | |||||
Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit) | 31,000 | |||||
Supplemental Employee Retirement Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Officers' Compensation | $138,000 | $186,000 | $140,000 | |||
Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 850,000 | 850,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 286,386 | 286,386 | ||||
Independent Directors Stock Incentive Plan [Member] | ||||||
Note 13 - Employee and Postretirement Benefit Plans (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 135,000 | 135,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 30,775 | 30,775 |
Note_13_Employee_and_Postretir3
Note 13 - Employee and Postretirement Benefit Plans (Details) - Funded Status of Defined Benefit Plans (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plan [Member] | |||
CHANGE IN BENEFIT OBLIGATION: | |||
Benefit obligation at beginning of year | $1,733,000 | $1,783,000 | |
Service cost | 0 | 0 | 0 |
Interest cost | 73,000 | 71,000 | 72,000 |
Plan participants' contributions | 0 | 0 | |
Actuarial loss (gain) | 76,000 | -104,000 | |
Plan amendments | 0 | 0 | |
Benefits paid | -16,000 | -17,000 | |
Settlement of plan obligation | -781,000 | 0 | |
Benefit obligation at end of year | 1,085,000 | 1,733,000 | 1,783,000 |
CHANGE IN PLAN ASSETS: | |||
Fair value of plan assets at beginning of year | 1,968,000 | 1,842,000 | |
Actual return on plan assets | 37,000 | 143,000 | |
Employer contribution | 0 | 0 | |
Plan participants' contributions | 0 | 0 | |
Benefits paid | -16,000 | -17,000 | |
Settlement of plan obligation | -781,000 | 0 | |
Fair value of plan assets at end of year | 1,208,000 | 1,968,000 | 1,842,000 |
Funded (underfunded) status at end of year | 123,000 | 235,000 | |
Other Postretirement Benefit Plan [Member] | |||
CHANGE IN BENEFIT OBLIGATION: | |||
Benefit obligation at beginning of year | 1,391,000 | 2,081,000 | |
Service cost | 34,000 | 41,000 | 91,000 |
Interest cost | 57,000 | 55,000 | 81,000 |
Plan participants' contributions | 198,000 | 208,000 | |
Actuarial loss (gain) | -48,000 | -171,000 | |
Plan amendments | 0 | -557,000 | |
Benefits paid | -254,000 | -266,000 | |
Settlement of plan obligation | 0 | 0 | |
Benefit obligation at end of year | 1,378,000 | 1,391,000 | 2,081,000 |
CHANGE IN PLAN ASSETS: | |||
Fair value of plan assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contribution | 56,000 | 58,000 | |
Plan participants' contributions | 198,000 | 208,000 | |
Benefits paid | -254,000 | -266,000 | |
Settlement of plan obligation | 0 | 0 | |
Fair value of plan assets at end of year | 0 | 0 | 0 |
Funded (underfunded) status at end of year | ($1,378,000) | ($1,391,000) |
Note_13_Employee_and_Postretir4
Note 13 - Employee and Postretirement Benefit Plans (Details) - Plan Assets and liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Pension Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Plan Assets and liabilities [Line Items] | ||
Other assets | $123 | $235 |
Other Postretirement Benefit Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Plan Assets and liabilities [Line Items] | ||
Accrued interest and other liabilities | $1,378 | $1,391 |
Note_13_Employee_and_Postretir5
Note 13 - Employee and Postretirement Benefit Plans (Details) - Items Included in Accumulated Other Comprehensive Income (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Items Included in Accumulated Other Comprehensive Income [Line Items] | ||
Total | ($79) | ($11) |
Pension Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Items Included in Accumulated Other Comprehensive Income [Line Items] | ||
Prior service cost | 0 | 0 |
Net actuarial loss | 269 | 357 |
Total | 269 | 357 |
Other Postretirement Benefit Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Items Included in Accumulated Other Comprehensive Income [Line Items] | ||
Prior service cost | -402 | -433 |
Net actuarial loss | 11 | 59 |
Total | ($391) | ($374) |
Note_13_Employee_and_Postretir6
Note 13 - Employee and Postretirement Benefit Plans (Details) - Net Periodic Benefit Costs (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $0 | $0 | $0 |
Interest cost | 73,000 | 71,000 | 72,000 |
Expected return on plan assets | -88,000 | -90,000 | -72,000 |
Amortization of transition (asset) obligation | 0 | 0 | 0 |
Amortization of prior service cost | 0 | 0 | 0 |
Recognized net actuarial loss | 19,000 | 32,000 | 27,000 |
Loss on settlement | 196,000 | 0 | 0 |
Total net periodic benefit cost | 200,000 | 13,000 | 27,000 |
Other Postretirement Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 34,000 | 41,000 | 91,000 |
Interest cost | 57,000 | 55,000 | 81,000 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of transition (asset) obligation | 0 | 0 | 37,000 |
Amortization of prior service cost | -31,000 | -31,000 | 13,000 |
Recognized net actuarial loss | 0 | 1,000 | 0 |
Loss on settlement | 0 | 0 | 0 |
Total net periodic benefit cost | $60,000 | $66,000 | $222,000 |
Note_13_Employee_and_Postretir7
Note 13 - Employee and Postretirement Benefit Plans (Details) - Assumptions Used to Determine Net Periodic Benefit Cost | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension Plan [Member] | |||
Citizens Trust Company Retirement Plan and postretirement plan: | |||
Discount rate | 4.50% | 4.00% | 4.50% |
Expected return on plan assets | 5.31% | 5.31% | 7.50% |
Rate of compensation increase | |||
Other Postretirement Benefit Plan [Member] | |||
Citizens Trust Company Retirement Plan and postretirement plan: | |||
Discount rate | 4.00% | 4.00% | 4.50% |
Expected return on plan assets | |||
Rate of compensation increase |
Note_13_Employee_and_Postretir8
Note 13 - Employee and Postretirement Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations | Dec. 31, 2014 | Dec. 31, 2013 |
Pension Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations [Line Items] | ||
Discount rate | 3.75% | 4.50% |
Rate of compensation increase | ||
Other Postretirement Benefit Plan [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations [Line Items] | ||
Discount rate | 4.00% | 4.75% |
Rate of compensation increase |
Note_13_Employee_and_Postretir9
Note 13 - Employee and Postretirement Benefit Plans (Details) - Estimated Future Benefit Payments (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Pension Plan [Member] | |
Note 13 - Employee and Postretirement Benefit Plans (Details) - Estimated Future Benefit Payments [Line Items] | |
2015 | $235 |
2016 | 41 |
2017 | 16 |
2018 | 401 |
2019 | 38 |
2020-2024 | 208 |
Other Postretirement Benefit Plan [Member] | |
Note 13 - Employee and Postretirement Benefit Plans (Details) - Estimated Future Benefit Payments [Line Items] | |
2015 | 88 |
2016 | 87 |
2017 | 88 |
2018 | 97 |
2019 | 98 |
2020-2024 | $515 |
Recovered_Sheet1
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets | Dec. 31, 2014 | Dec. 31, 2013 |
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets [Line Items] | ||
Weighted average asset allocation | 100.00% | 100.00% |
Cash and Cash Equivalents [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets [Line Items] | ||
Weighted average asset allocation | 3.00% | 36.00% |
Debt Securities [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets [Line Items] | ||
Weighted average asset allocation | 37.00% | 24.00% |
Equity Securities [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets [Line Items] | ||
Weighted average asset allocation | 47.00% | 30.00% |
Alternative Funds [Member] | ||
Note 13 - Employee and Postretirement Benefit Plans (Details) - The Fair Values of Pension Plan Assets [Line Items] | ||
Weighted average asset allocation | 13.00% | 10.00% |
Recovered_Sheet2
Note 13 - Employee and Postretirement Benefit Plans (Details) - Stock Option Fair Value Assumptions | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Option Fair Value Assumptions [Abstract] | |||
Volatility | 39.00% | 41.00% | 41.00% |
Expected option lives (in years) | 8 years | 8 years | 7 years |
Risk-free interest rate | 2.85% | 1.60% | 1.53% |
Dividend yield | 4.33% | 3.69% | 3.97% |
Recovered_Sheet3
Note 13 - Employee and Postretirement Benefit Plans (Details) - Stock-Based Compensation Expense (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based combensation | $565,000 | $696,000 | $567,000 |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based combensation | 153,000 | 242,000 | 247,000 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based combensation | $412,000 | $454,000 | $320,000 |
Recovered_Sheet4
Note 13 - Employee and Postretirement Benefit Plans (Details) - Stock Option Activity (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Option Activity [Abstract] | |||
Outstanding, beginning of year (in Shares) | 358,176 | 337,670 | 301,797 |
Outstanding, beginning of year | $19.03 | $19.08 | $19.05 |
Granted (in Shares) | 39,027 | 64,050 | 64,757 |
Granted | $20.45 | $19.21 | $18.54 |
Exercised (in Shares) | -50,415 | -10,656 | -17,284 |
Exercised | $17.57 | $17.22 | $16.20 |
Forfeited (in Shares) | -16,424 | -14,135 | -6,830 |
Forfeited | $20.03 | $20.13 | $21.51 |
Expired (in Shares) | -14,207 | -18,753 | -4,770 |
Expired | $26.59 | $20.73 | $17 |
Outstanding, end of year (in Shares) | 316,157 | 358,176 | 337,670 |
Outstanding, end of year | $19.05 | $19.03 | $19.08 |
Options exercisable at year-end (in Shares) | 316,157 | 358,176 | 337,670 |
Options exercisable at year-end | $19.05 | $19.03 | $19.08 |
Weighted-average fair value of options granted | $5.50 | $5.56 | $5.15 |
Weighted-average fair value of options forfeited | $4.89 | $3.77 | $4.03 |
Recovered_Sheet5
Note 13 - Employee and Postretirement Benefit Plans (Details) - Non-Vested Stock Options and Restricted Stock Activity (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Employee Stock Option [Member] | |
Note 13 - Employee and Postretirement Benefit Plans (Details) - Non-Vested Stock Options and Restricted Stock Activity [Line Items] | |
Outstanding, December 31, 2013 | 0 |
Granted | 39,027,000 |
Granted (in Dollars per share) | $5.50 |
Vested | -39,027,000 |
Vested (in Dollars per share) | $5.50 |
Forfeited | 0 |
Outstanding, December 31, 2014 | 0 |
Restricted Stock [Member] | |
Note 13 - Employee and Postretirement Benefit Plans (Details) - Non-Vested Stock Options and Restricted Stock Activity [Line Items] | |
Outstanding, December 31, 2013 | 67,878,000 |
Outstanding, December 31, 2013 (in Dollars per share) | $18.67 |
Granted | 16,711,000 |
Granted (in Dollars per share) | $20.40 |
Vested | -24,695,000 |
Vested (in Dollars per share) | $18.18 |
Forfeited | -7,458,000 |
Forfeited (in Dollars per share) | $19.47 |
Outstanding, December 31, 2014 | 52,436,000 |
Outstanding, December 31, 2014 (in Dollars per share) | $19.34 |
Note_14_Income_Taxes_Details
Note 14 - Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2014 | |
Note 14 - Income Taxes (Details) [Line Items] | ||
Income Tax Credits and Adjustments | $160,000 | |
Income Tax Expense (Benefit) Increase (Decrease) | 85,000 | |
Unrecognized Tax Benefits | 0 | |
Affordable Housing Partnership [Member] | Other Assets [Member] | ||
Note 14 - Income Taxes (Details) [Line Items] | ||
Investments | 906,000 | |
Scenario, Forecast [Member] | ||
Note 14 - Income Taxes (Details) [Line Items] | ||
Income Tax Credits and Adjustments | 159,000 | |
Income Tax Expense (Benefit) Increase (Decrease) | $83,000 |
Note_14_Income_Taxes_Details_N
Note 14 - Income Taxes (Details) - Net Deferred Tax Assets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ||
Unrealized holding losses on securities | $0 | $541 |
Net realized losses on securities | 144 | 91 |
Allowance for loan losses | 2,568 | 3,032 |
Credit for alternative minimum tax paid | 537 | 1,905 |
Other deferred tax assets | 2,595 | 2,332 |
Total deferred tax assets | 5,844 | 7,901 |
Deferred tax liabilities: | ||
Unrealized holding gains on securities | 2,844 | 0 |
Defined benefit plans - ASC 835 | 43 | 6 |
Bank premises and equipment | 1,134 | 1,314 |
Core deposit intangibles | 18 | 30 |
Other deferred tax liabilities | 137 | 207 |
Total deferred tax liabilities | 4,176 | 1,557 |
Deferred tax asset, net | $1,668 | $6,344 |
Note_14_Income_Taxes_Details_P
Note 14 - Income Taxes (Details) - Provision for Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Provision for Income Taxes [Abstract] | |||||||||||
Currently payable | $1,482 | $1,411 | $1,400 | $1,399 | $1,349 | $1,579 | $1,671 | $1,584 | $4,280 | $4,125 | $4,545 |
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets | 158 | 219 | 121 | ||||||||
Deferred | 1,254 | 1,839 | 3,760 | ||||||||
Total provision | $5,692 | $6,183 | $8,426 |
Note_14_Income_Taxes_Details_R
Note 14 - Income Taxes (Details) - Reconciliation of Income Tax (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of Income Tax [Abstract] | |||
Expected provision | $7,973 | $8,672 | $10,896 |
Expected provision | 35.00% | 35.00% | 35.00% |
Tax-exempt interest income | -1,982 | -2,137 | -2,287 |
Tax-exempt interest income | -8.70% | -8.62% | -7.35% |
Nondeductible interest expense | 56 | 60 | 92 |
Nondeductible interest expense | 0.25% | 0.24% | 0.30% |
Dividends received deduction | -79 | -76 | -78 |
Dividends received deduction | -0.35% | -0.31% | -0.25% |
Increase in cash surrender value of life insurance | -132 | -140 | -159 |
Increase in cash surrender value of life insurance | -0.58% | -0.57% | -0.51% |
Employee stock option compensation | 41 | 67 | 62 |
Employee stock option compensation | 0.18% | 0.27% | 0.20% |
Tax benefit from limited partnership investment | -83 | -85 | 0 |
Tax benefit from limited partnership investment | -0.36% | -0.34% | 0.00% |
Other, net | -101 | -178 | -100 |
Other, net | -0.45% | -0.72% | -0.32% |
Effective income tax provision | $5,692 | $6,183 | $8,426 |
Effective income tax provision | 24.99% | 24.95% | 27.07% |
Note_15_Related_Party_Transact2
Note 15 - Related Party Transactions (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Related Party Transactions [Abstract] | ||
Related Party Deposit Liabilities | $3,203,000 | $3,897,000 |
Note_15_Related_Party_Transact3
Note 15 - Related Party Transactions (Details) - Related Party Loans (Management [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Management [Member] | |||
Related Party Transaction [Line Items] | |||
Beginning balance | $12,547 | $14,125 | $12,997 |
New loans | 188 | 1,110 | 2,517 |
Repayments | -1,358 | -2,723 | -1,424 |
Other changes | 646 | 35 | 35 |
Ending balance | $12,023 | $12,547 | $14,125 |
Note_16_Offbalance_Sheet_Risk_1
Note 16 - Off-balance Sheet Risk (Details) - Financial Instruments Whose Contract Amounts Represent Credit Risk (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Commitments to Extend Credit [Member] | ||
Concentration Risk [Line Items] | ||
Credit risk financial instrument | $143,863 | $139,866 |
Standby Letters of Credit [Member] | ||
Concentration Risk [Line Items] | ||
Credit risk financial instrument | $13,415 | $21,590 |
Note_16_Offbalance_Sheet_Risk_2
Note 16 - Off-balance Sheet Risk (Details) - Standby Letters of Credit Expirations (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Standby Letters of Credit Expirations [Abstract] | |
2015 | $8,932 |
2016 | 2,183 |
2017 | 60 |
2019 | 30 |
2020 and Thereafter | 2,210 |
Total | $13,415 |
Note_18_Regulatory_Matters_Det
Note 18 - Regulatory Matters (Details) (USD $) | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | |
Retained Earnings, Unappropriated | $84,022,000 |
Tangible Capital to Tangible Assets | 10.00% |
Tangible Capital | $15,580,000 |
Note_18_Regulatory_Matters_Det1
Note 18 - Regulatory Matters (Details) - Capital Amounts and Ratios (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Greater Than or Equal To [Member] | Consolidated Entities [Member] | ||
Total capital to risk-weighted assets: | ||
Total capital to risk-wP5ightP5d assP5ts - minimum capital requirement ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets: | ||
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum capital requirement ratio | 4.00% | 4.00% |
Tier 1 capital to average assets: | ||
TiP5r 1 capital to avP5ragP5 assP5ts - minimum capital requirement ratio | 4.00% | 4.00% |
Greater Than or Equal To [Member] | Citizens and Northern Bank [Member] | ||
Total capital to risk-weighted assets: | ||
Total capital to risk-wP5ightP5d assP5ts - minimum capital requirement ratio | 8.00% | 8.00% |
Total capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets: | ||
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum capital requirement ratio | 4.00% | 4.00% |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions ratio | 6.00% | 6.00% |
Tier 1 capital to average assets: | ||
TiP5r 1 capital to avP5ragP5 assP5ts - minimum capital requirement ratio | 4.00% | 4.00% |
TiP5r 1 capital to avP5ragP5 assP5ts - minimum to be well capitalized under prompt corrective action provisions ratio | 5.00% | 5.00% |
Consolidated Entities [Member] | ||
Total capital to risk-weighted assets: | ||
Total capital to risk-wP5ightP5d assP5ts - actual amount | 179,588 | 177,693 |
Total capital to risk-wP5ightP5d assP5ts - actual ratio | 27.60% | 26.60% |
Total capital to risk-wP5ightP5d assP5ts - minimum capital requirement amount | 52,051 | 53,449 |
Total capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | ||
Tier 1 capital to risk-weighted assets: | ||
TiP5r 1 capital to risk-wP5ightP5d assP5ts - actual amount | 170,880 | 168,039 |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - actual ratio | 26.26% | 25.15% |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum capital requirement amount | 26,026 | 26,724 |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | ||
Tier 1 capital to average assets: | ||
TiP5r 1 capital to avP5ragP5 assP5ts - actual amount | 170,880 | 168,039 |
TiP5r 1 capital to avP5ragP5 assP5ts - actual ratio | 13.89% | 13.78% |
TiP5r 1 capital to avP5ragP5 assP5ts - minimum capital requirement amount | 49,224 | 48,783 |
TiP5r 1 capital to avP5ragP5 assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | ||
Citizens and Northern Bank [Member] | ||
Total capital to risk-weighted assets: | ||
Total capital to risk-wP5ightP5d assP5ts - actual amount | 156,420 | 162,610 |
Total capital to risk-wP5ightP5d assP5ts - actual ratio | 24.33% | 24.65% |
Total capital to risk-wP5ightP5d assP5ts - minimum capital requirement amount | 51,442 | 52,783 |
Total capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | 64,303 | 65,979 |
Tier 1 capital to risk-weighted assets: | ||
TiP5r 1 capital to risk-wP5ightP5d assP5ts - actual amount | 149,055 | 154,323 |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - actual ratio | 23.18% | 23.39% |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum capital requirement amount | 25,721 | 26,392 |
TiP5r 1 capital to risk-wP5ightP5d assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | 38,582 | 39,588 |
Tier 1 capital to average assets: | ||
TiP5r 1 capital to avP5ragP5 assP5ts - actual amount | 149,055 | 154,323 |
TiP5r 1 capital to avP5ragP5 assP5ts - actual ratio | 12.22% | 12.77% |
TiP5r 1 capital to avP5ragP5 assP5ts - minimum capital requirement amount | 48,798 | 48,348 |
TiP5r 1 capital to avP5ragP5 assP5ts - minimum to be well capitalized under prompt corrective action provisions amount | 60,998 | 60,435 |
Note_19_Parent_Company_Only_De
Note 19 - Parent Company Only (Details) - Condensed Balance Sheet (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Investment in subsidiaries: | ||||
Other assets | $8,766 | $12,140 | ||
TOTAL ASSETS | 1,241,963 | 1,237,695 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Other liabilities | 7,015 | 6,984 | ||
Stockholders' equity | 188,362 | 179,472 | 182,786 | 167,385 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,241,963 | 1,237,695 | ||
Citizens and Northern Bank [Member] | Parent Company [Member] | ||||
Investment in subsidiaries: | ||||
Equity method investment | 164,551 | 163,711 | ||
Citizens and Northern Investment Corporation [Member] | Parent Company [Member] | ||||
Investment in subsidiaries: | ||||
Equity method investment | 10,822 | 10,216 | ||
Bucktail Life Insurance Company [Member] | Parent Company [Member] | ||||
Investment in subsidiaries: | ||||
Equity method investment | 3,336 | 3,254 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash | 9,624 | 2,297 | ||
Investment in subsidiaries: | ||||
Other assets | 36 | 0 | ||
TOTAL ASSETS | 188,369 | 179,478 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Other liabilities | 7 | 6 | ||
Stockholders' equity | 188,362 | 179,472 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $188,369 | $179,478 |
Note_19_Parent_Company_Only_De1
Note 19 - Parent Company Only (Details) - Condensed Income Statement (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from Citizens & Northern Bank | $307,000 | $295,000 | $305,000 | ||||||||
Income before equity in undistributed income of subsidiaries | 5,850,000 | 5,678,000 | 5,563,000 | 5,687,000 | 5,574,000 | 6,268,000 | 6,645,000 | 6,290,000 | 22,778,000 | 24,777,000 | 31,131,000 |
NET INCOME | 4,368,000 | 4,267,000 | 4,163,000 | 4,288,000 | 4,225,000 | 4,689,000 | 4,974,000 | 4,706,000 | 17,086,000 | 18,594,000 | 22,705,000 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from Citizens & Northern Bank | 22,608,000 | 11,108,000 | 9,245,000 | ||||||||
Expenses | -112,000 | -108,000 | -105,000 | ||||||||
Income before equity in undistributed income of subsidiaries | 22,496,000 | 11,000,000 | 9,140,000 | ||||||||
Equity in undistributed (loss) income of subsidiaries | -5,410,000 | 7,594,000 | 13,565,000 | ||||||||
NET INCOME | $17,086,000 | $18,594,000 | $22,705,000 |
Note_19_Parent_Company_Only_De2
Note 19 - Parent Company Only (Details) - Condensed Statement of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $17,086,000 | $18,594,000 | $22,705,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
(Increase) decrease in other assets | 1,395,000 | 3,234,000 | -1,043,000 |
Increase in other liabilities | -90,000 | -679,000 | 674,000 |
Net Cash Provided by Operating Activities | 22,281,000 | 30,572,000 | 27,652,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Tax benefit from compensation plans, net | 157,000 | 124,000 | 118,000 |
Purchase of treasury stock | -4,002,000 | 0 | 0 |
Dividends paid | -11,392,000 | -10,916,000 | -9,061,000 |
Net Cash Used in Financing Activities | -19,767,000 | -55,877,000 | -64,087,000 |
INCREASE IN CASH AND CASH EQUIVALENTS | -6,972,000 | -16,425,000 | -1,799,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 38,591,000 | 55,016,000 | 56,815,000 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 31,619,000 | 38,591,000 | 55,016,000 |
Parent Company [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | 17,086,000 | 18,594,000 | 22,705,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Equity in undistributed net loss (income) of Subsidiaries | 5,410,000 | -7,594,000 | -13,565,000 |
(Increase) decrease in other assets | -36,000 | 7,000 | 116,000 |
Increase in other liabilities | 1,000 | 0 | 6,000 |
Net Cash Provided by Operating Activities | 22,461,000 | 11,007,000 | 9,262,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from sale of treasury stock | 123,000 | 184,000 | 229,000 |
Tax benefit from compensation plans, net | 137,000 | 127,000 | 104,000 |
Purchase of treasury stock | -4,002,000 | 0 | 0 |
Dividends paid | -11,392,000 | -10,916,000 | -9,061,000 |
Net Cash Used in Financing Activities | -15,134,000 | -10,605,000 | -8,728,000 |
INCREASE IN CASH AND CASH EQUIVALENTS | 7,327,000 | 402,000 | 534,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 2,297,000 | 1,895,000 | 1,361,000 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $9,624,000 | $2,297,000 | $1,895,000 |
Note_20_Summary_of_Quarterly_C2
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) (Details) - Summarized Quarterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Summarized Quarterly Financial Data [Abstract] | |||||||||||
Interest income | $11,468,000 | $11,572,000 | $11,563,000 | $11,406,000 | $11,885,000 | $12,027,000 | $12,355,000 | $12,647,000 | $46,009,000 | $48,914,000 | $56,632,000 |
Interest expense | 1,257,000 | 1,287,000 | 1,290,000 | 1,288,000 | 1,354,000 | 1,396,000 | 1,415,000 | 1,600,000 | 5,122,000 | 5,765,000 | 9,031,000 |
Net interest income | 10,211,000 | 10,285,000 | 10,273,000 | 10,118,000 | 10,531,000 | 10,631,000 | 10,940,000 | 11,047,000 | 40,887,000 | 43,149,000 | 47,601,000 |
(Credit) provision for loan losses | 123,000 | 218,000 | 446,000 | -311,000 | 1,559,000 | 239,000 | 66,000 | 183,000 | 476,000 | 2,047,000 | 288,000 |
Net interest income after (credit) provision for loan losses | 10,088,000 | 10,067,000 | 9,827,000 | 10,429,000 | 8,972,000 | 10,392,000 | 10,874,000 | 10,864,000 | 40,411,000 | 41,102,000 | 47,313,000 |
Other income | 3,802,000 | 3,887,000 | 3,980,000 | 3,751,000 | 4,124,000 | 4,293,000 | 4,191,000 | 3,843,000 | |||
Net gains on available-for-sale securities | 210,000 | 760,000 | 103,000 | 31,000 | 266,000 | 193,000 | 100,000 | 1,159,000 | 1,104,000 | 1,718,000 | 2,682,000 |
Loss on prepayment of debt | 0 | 0 | 0 | 1,023,000 | 0 | 1,023,000 | 2,333,000 | ||||
Other expenses | 8,250,000 | 9,036,000 | 8,347,000 | 8,524,000 | 7,788,000 | 8,610,000 | 8,520,000 | 8,553,000 | 5,423,000 | 5,298,000 | 5,227,000 |
Income before income tax provision | 5,850,000 | 5,678,000 | 5,563,000 | 5,687,000 | 5,574,000 | 6,268,000 | 6,645,000 | 6,290,000 | 22,778,000 | 24,777,000 | 31,131,000 |
Income tax provision | 1,482,000 | 1,411,000 | 1,400,000 | 1,399,000 | 1,349,000 | 1,579,000 | 1,671,000 | 1,584,000 | 4,280,000 | 4,125,000 | 4,545,000 |
Net income available to common shareholders | $4,368,000 | $4,267,000 | $4,163,000 | $4,288,000 | $4,225,000 | $4,689,000 | $4,974,000 | $4,706,000 | $17,086,000 | $18,594,000 | $22,705,000 |
Net income per share b basic (in Dollars per share) | $0.36 | $0.34 | $0.33 | $0.35 | $0.34 | $0.38 | $0.40 | $0.38 | $1.38 | $1.51 | $1.86 |
Net income per share b diluted (in Dollars per share) | $0.35 | $0.34 | $0.33 | $0.34 | $0.34 | $0.38 | $0.40 | $0.38 |