Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 04, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | CITIZENS & NORTHERN CORP | |
Trading Symbol | CZNC | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 12,195,996 | |
Amendment Flag | false | |
Entity Central Index Key | 810,958 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and due from banks: | ||
Noninterest-bearing | $ 15,839 | $ 14,812 |
Interest-bearing | 19,566 | 21,235 |
Total cash and due from banks | 35,405 | 36,047 |
Available-for-sale securities, at fair value | 497,111 | 516,807 |
Loans held for sale | 192 | 0 |
Loans receivable | 663,818 | 630,545 |
Allowance for loan losses | (7,300) | (7,336) |
Loans, net | 656,518 | 623,209 |
Bank-owned life insurance | 20,876 | 22,119 |
Accrued interest receivable | 3,875 | 3,908 |
Bank premises and equipment, net | 15,837 | 16,256 |
Foreclosed assets held for sale | 1,223 | 1,189 |
Deferred tax asset, net | 1,931 | 1,668 |
Intangible asset - Core deposit intangibles | 41 | 52 |
Intangible asset - Goodwill | 11,942 | 11,942 |
Other assets | 10,771 | 8,766 |
TOTAL ASSETS | 1,255,722 | 1,241,963 |
Deposits: | ||
Noninterest-bearing | 216,910 | 212,439 |
Interest-bearing | 761,539 | 755,550 |
Total deposits | 978,449 | 967,989 |
Short-term borrowings | 19,806 | 5,537 |
Long-term borrowings | 62,916 | 73,060 |
Accrued interest and other liabilities | 7,578 | 7,015 |
TOTAL LIABILITIES | 1,068,749 | 1,053,601 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $1,000 par value; authorized 30,000 shares; $1,000 liquidation preference per share; no shares issued at June 30, 2015 and December 31, 2014 | 0 | 0 |
Common stock, par value $1.00 per share; authorized 20,000,000 shares in 2015 and 2014; issued 12,655,171 at June 30, 2015 and 12,655,171 at December 31, 2014; outstanding 12,196,830 at June 30, 2015 and 12,279,980 at December 31, 2014 | 12,655 | 12,655 |
Paid-in capital | 71,258 | 71,541 |
Retained earnings | 107,422 | 105,550 |
Treasury stock, at cost; 458,341 shares at June 30, 2015 and 375,191 shares at December 31, 2014 | (8,448) | (6,744) |
Sub-total | 182,887 | 183,002 |
Accumulated other comprehensive income: | ||
Unrealized gain on available-for-sale securities | 4,077 | 5,281 |
Defined benefit plans gain | 9 | 79 |
Total accumulated other comprehensive income | 4,086 | 5,360 |
TOTAL STOCKHOLDERS' EQUITY | 186,973 | 188,362 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 1,255,722 | $ 1,241,963 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
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 | 12,655,171 |
Common stock, shares outstanding | 12,196,830 | 12,279,980 |
Treasury stock, shares | 458,341 | 375,191 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST INCOME | ||||
Interest and fees on loans | $ 7,753,000 | $ 8,085,000 | $ 15,462,000 | $ 16,083,000 |
Interest on balances with depository institutions | 25,000 | 32,000 | 51,000 | 62,000 |
Interest on loans to political subdivisions | 391,000 | 334,000 | 740,000 | 707,000 |
Interest on mortgages held for sale | 3,000 | 5,000 | 5,000 | 8,000 |
Income from available-for-sale securities: | ||||
Taxable | 1,934,000 | 1,961,000 | 3,908,000 | 3,763,000 |
Tax-exempt | 1,013,000 | 1,080,000 | 2,029,000 | 2,191,000 |
Dividends | 67,000 | 66,000 | 154,000 | 155,000 |
Total interest and dividend income | 11,186,000 | 11,563,000 | 22,349,000 | 22,969,000 |
INTEREST EXPENSE | ||||
Interest on deposits | 479,000 | 553,000 | 965,000 | 1,107,000 |
Interest on short-term borrowings | 5,000 | 1,000 | 6,000 | 6,000 |
Interest on long-term borrowings | 692,000 | 736,000 | 1,418,000 | 1,465,000 |
Total interest expense | 1,176,000 | 1,290,000 | 2,389,000 | 2,578,000 |
Net interest income | 10,010,000 | 10,273,000 | 19,960,000 | 20,391,000 |
Provision for loan losses | 221,000 | 446,000 | 224,000 | 135,000 |
Net interest income after provision for loan losses | 9,789,000 | 9,827,000 | 19,736,000 | 20,256,000 |
OTHER INCOME | ||||
Service charges on deposit accounts | 1,305,000 | 1,314,000 | 2,327,000 | 2,537,000 |
Service charges and fees | 123,000 | 134,000 | 236,000 | 261,000 |
Trust and financial management revenue | 1,241,000 | 1,138,000 | 2,355,000 | 2,185,000 |
Brokerage revenue | 206,000 | 242,000 | 425,000 | 469,000 |
Insurance commissions, fees and premiums | 23,000 | 27,000 | 63,000 | 59,000 |
Interchange revenue from debit card transactions | 500,000 | 517,000 | 974,000 | 970,000 |
Net gains from sale of loans | 183,000 | 265,000 | 330,000 | 416,000 |
(Decrease) increase in fair value of servicing rights | (33,000) | (53,000) | (150,000) | 52,000 |
Increase in cash surrender value of life insurance | 102,000 | 91,000 | 199,000 | 179,000 |
Net loss from premises and equipment | 0 | (1,000) | 0 | (1,000) |
Other operating income | 312,000 | 306,000 | 690,000 | 604,000 |
Sub-total | 3,962,000 | 3,980,000 | 7,449,000 | 7,731,000 |
Realized gains on available-for-sale securities, net | 932,000 | 103,000 | 1,006,000 | 134,000 |
Total other income | 4,894,000 | 4,083,000 | 8,455,000 | 7,865,000 |
OTHER EXPENSES | ||||
Salaries and wages | 3,603,000 | 3,646,000 | 7,090,000 | 7,211,000 |
Pensions and other employee benefits | 935,000 | 1,153,000 | 2,320,000 | 2,472,000 |
Occupancy expense, net | 640,000 | 641,000 | 1,362,000 | 1,356,000 |
Furniture and equipment expense | 467,000 | 466,000 | 921,000 | 938,000 |
FDIC Assessments | 148,000 | 146,000 | 299,000 | 293,000 |
Pennsylvania shares tax | 317,000 | 337,000 | 566,000 | 678,000 |
Professional fees | 113,000 | 144,000 | 235,000 | 292,000 |
Automated teller machine and interchange expense | 255,000 | 218,000 | 501,000 | 429,000 |
Software subscriptions | 211,000 | 201,000 | 408,000 | 391,000 |
Loss on prepayment of debt | 910,000 | 0 | 910,000 | 0 |
Other operating expense | 1,275,000 | 1,395,000 | 2,726,000 | 2,811,000 |
Total other expenses | 8,874,000 | 8,347,000 | 17,338,000 | 16,871,000 |
Income before income tax provision | 5,809,000 | 5,563,000 | 10,853,000 | 11,250,000 |
Income tax provision | 1,452,000 | 1,400,000 | 2,681,000 | 2,799,000 |
NET INCOME | $ 4,357,000 | $ 4,163,000 | $ 8,172,000 | $ 8,451,000 |
NET INCOME PER SHARE - BASIC (in Dollars per share) | $ 0.36 | $ 0.33 | $ 0.67 | $ 0.68 |
NET INCOME PER SHARE - DILUTED (in Dollars per share) | $ 0.36 | $ 0.33 | $ 0.67 | $ 0.68 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income | $ 4,357,000 | $ 4,163,000 | $ 8,172,000 | $ 8,451,000 |
Unrealized (losses) gains on available-for-sale securities: | ||||
Unrealized holding (losses) gains on available-for-sale securities | (4,572,000) | 4,523,000 | (847,000) | 9,857,000 |
Reclassification adjustment for gains realized in income | (932,000) | (103,000) | (1,006,000) | (134,000) |
Other comprehensive (loss) gain on available-for-sale securities | (5,504,000) | 4,420,000 | (1,853,000) | 9,723,000 |
Unfunded pension and postretirement obligations: | ||||
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive (loss) gain | 0 | 3,000 | (100,000) | 144,000 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost | (5,000) | (4,000) | (8,000) | (8,000) |
Other comprehensive (loss) gain on unfunded retirement obligations | (5,000) | (1,000) | (108,000) | 136,000 |
Other comprehensive (loss) income before income tax | (5,509,000) | 4,419,000 | (1,961,000) | 9,859,000 |
Income tax related to other comprehensive loss (income) | 1,929,000 | (1,545,000) | 687,000 | (3,450,000) |
Net other comprehensive (loss) income | (3,580,000) | 2,874,000 | (1,274,000) | 6,409,000 |
Comprehensive income | $ 777,000 | $ 7,037,000 | $ 6,898,000 | $ 14,860,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 8,172,000 | $ 8,451,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 224,000 | 135,000 |
Realized gains on available-for-sale securities, net | (1,006,000) | (134,000) |
Loss on prepayment of debt | 910,000 | 0 |
Realized (gain) loss on foreclosed assets | (61,000) | 19,000 |
Loss on disposition of premises and equipment | 0 | 1,000 |
Depreciation expense | 958,000 | 988,000 |
Accretion and amortization on securities, net | 791,000 | 674,000 |
Accretion and amortization on loans and deposits, net | (10,000) | (14,000) |
Decrease (increase) in fair value of servicing rights | 150,000 | (52,000) |
Increase in cash surrender value of life insurance | (199,000) | (179,000) |
Stock-based compensation | 307,000 | 384,000 |
Amortization of core deposit intangibles | 11,000 | 17,000 |
Deferred income taxes | 424,000 | 1,057,000 |
Gains on sales of loans, net | (330,000) | (416,000) |
Origination of loans for sale | (10,029,000) | (12,443,000) |
Proceeds from sales of loans | 10,089,000 | 12,807,000 |
(Increase) decrease in accrued interest receivable and other assets | (1,225,000) | 179,000 |
Increase in accrued interest payable and other liabilities | 681,000 | 1,795,000 |
Net Cash Provided by Operating Activities | 9,857,000 | 13,269,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposit | 0 | 480,000 |
Proceeds from sales of available-for-sale securities | 11,255,000 | 28,831,000 |
Proceeds from calls and maturities of available-for-sale securities | 41,777,000 | 35,340,000 |
Purchase of available-for-sale securities | (35,200,000) | (83,766,000) |
Redemption of Federal Home Loan Bank of Pittsburgh stock | 2,042,000 | 976,000 |
Purchase of Federal Home Loan Bank of Pittsburgh stock | (2,960,000) | (123,000) |
Net (increase) decrease in loans | (34,153,000) | 20,248,000 |
Proceeds from bank-owned life insurance | 1,442,000 | 0 |
Purchase of premises and equipment | (539,000) | (206,000) |
Return of principal on limited liability entity investments | 99,000 | 87,000 |
Proceeds from sale of foreclosed assets | 657,000 | 378,000 |
Net Cash (Used in) Provided by Investing Activities | (15,580,000) | 2,245,000 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 10,460,000 | 24,723,000 |
Net increase (decrease) in short-term borrowings | 14,269,000 | (18,748,000) |
Repayments of long-term borrowings | (11,054,000) | (137,000) |
Purchase of treasury stock | (3,415,000) | 0 |
Sale of treasury stock | 378,000 | 86,000 |
Tax benefit from compensation plans | 78,000 | 74,000 |
Common dividends paid | (5,635,000) | (5,703,000) |
Net Cash Provided by Financing Activities | 5,081,000 | 295,000 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (642,000) | 15,809,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 31,619,000 | 38,591,000 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 30,977,000 | 54,400,000 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Assets acquired through foreclosure of real estate loans | 630,000 | 924,000 |
Accrued purchase of available-for-sale securities | 0 | 1,312,000 |
Interest paid | 2,404,000 | 2,587,000 |
Income taxes paid | $ 1,645,000 | $ 1,834,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
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 | 8,451,000 | 8,451,000 | ||||
Other comprehensive income (loss), net | 6,409,000 | 6,409,000 | ||||
Cash dividends declared on common stock | (6,459,000) | (6,459,000) | ||||
Shares issued for dividend reinvestment plan | $ 40,000 | 716,000 | 756,000 | |||
Shares issued for dividend reinvestment plan (in Shares) | 40,009 | |||||
Shares issued from treasury related to exercise of stock options | $ 93,000 | (7,000) | 86,000 | |||
Shares issued from treasury related to exercise of stock options (in Shares) | (5,577) | |||||
Restricted stock granted | $ 279,000 | (279,000) | 0 | |||
Restricted stock granted (in Shares) | (16,711) | |||||
Forfeiture of restricted stock | $ (39,000) | 39,000 | 0 | |||
Forfeiture of restricted stock (in Shares) | 2,355 | |||||
Stock-based compensation expense | 384,000 | 384,000 | ||||
Tax effect of stock option exercises | 1,000 | 1,000 | ||||
Tax benefit from dividends on restricted stock | 5,000 | 5,000 | ||||
Tax benefit from employee benefit plan | 68,000 | 68,000 | ||||
Balance at Jun. 30, 2014 | $ 12,636,000 | $ (3,119,000) | 70,964,000 | 103,276,000 | 5,416,000 | 189,173,000 |
Balance (in Shares) at Jun. 30, 2014 | 12,636,549 | 186,544 | ||||
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 | ||||
Net income | 8,172,000 | 8,172,000 | ||||
Other comprehensive income (loss), net | (1,274,000) | (1,274,000) | ||||
Cash dividends declared on common stock | (6,373,000) | (6,373,000) | ||||
Shares issued for dividend reinvestment plan | $ 713,000 | 25,000 | 738,000 | |||
Shares issued for dividend reinvestment plan (in Shares) | (37,758) | |||||
Treasury stock purchased | $ (3,415,000) | (3,415,000) | ||||
Treasury stock purchased (in Shares) | 176,000 | |||||
Shares issued from treasury related to exercise of stock options | $ 404,000 | (26,000) | 378,000 | |||
Shares issued from treasury related to exercise of stock options (in Shares) | (22,235) | |||||
Restricted stock granted | $ 627,000 | (627,000) | 0 | |||
Restricted stock granted (in Shares) | (34,800) | |||||
Forfeiture of restricted stock | $ (33,000) | 33,000 | 0 | |||
Forfeiture of restricted stock (in Shares) | 1,943 | |||||
Stock-based compensation expense | 307,000 | 307,000 | ||||
Tax effect of stock option exercises | (6,000) | (6,000) | ||||
Tax benefit from dividends on restricted stock | 11,000 | 11,000 | ||||
Tax benefit from employee benefit plan | 73,000 | 73,000 | ||||
Balance at Jun. 30, 2015 | $ 12,655,000 | $ (8,448,000) | $ 71,258,000 | $ 107,422,000 | $ 4,086,000 | $ 186,973,000 |
Balance (in Shares) at Jun. 30, 2015 | 12,655,171 | 458,341 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Common stock, dividends, per share | $ 0.52 | $ 0.52 |
Note 1 - Basis of Interim Prese
Note 1 - Basis of Interim Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Accounting [Text Block] | 1. BASIS OF INTERIM PRESENTATION The consolidated financial information included herein, with the exception of the consolidated balance sheet dated December 31, 2014, is unaudited. Such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations, comprehensive income, cash flows and changes in stockholders’ equity for the interim periods; however, the information does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for a complete set of financial statements. Operating results reported for the three-month and six-month periods ended June 30, 2015 might not be indicative of the results for the year ending December 31, 2015. The Corporation evaluates subsequent events through the date of filing with the Securities and Exchange Commission. |
Note 2 - Per Share Data
Note 2 - Per Share Data | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 2. 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 Six Months Ended June 30, 2015 Earnings per share – basic $8,172,000 12,233,964 $0.67 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 218,115 Hypothetical share repurchase at $19.97 (196,407 ) Earnings per share – diluted $8,172,000 12,255,672 $0.67 Six Months Ended June 30, 2014 Earnings per share – basic $8,451,000 12,429,717 $0.68 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 239,291 Hypothetical share repurchase at $19.25 (217,549 ) Earnings per share – diluted $8,451,000 12,451,459 $0.68 Weighted- Average Earnings Net Common Per Income Shares Share Three Months Ended June 30, 2015 Earnings per share – basic $4,357,000 12,199,996 $0.36 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 205,024 Hypothetical share repurchase at $20.15 (182,494 ) Earnings per share – diluted $4,357,000 12,222,526 $0.36 Three Months Ended June 30, 2014 Earnings per share – basic $4,163,000 12,441,679 $0.33 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 174,840 Hypothetical share repurchase at $18.81 (157,135 ) Earnings per share – diluted $4,163,000 12,459,384 $0.33 Stock options that were anti-dilutive were excluded from net income per share calculations. Weighted-average common shares available from anti-dilutive instruments totaled 75,539 shares in the six-month period ended June 30, 2015, 169,448 shares in the six-month period ended June 30, 2014, 47,974 shares in the second quarter 2015 and 200,672 shares in the second quarter 2014. |
Note 3 - Comprehensive Income
Note 3 - Comprehensive Income | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | 3. COMPREHENSIVE INCOME Comprehensive income is the total of (1) net income, 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, and the related tax effects, are as follows: (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Six Months Ended June 30, 2015: Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $(847 ) $297 $(550 ) Reclassification adjustment for (gains) realized in income (1,006 ) 352 (654 ) Other comprehensive loss on available-for-sale securities (1,853 ) 649 (1,204 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income (100 ) 35 (65 ) Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (8 ) 3 (5 ) Other comprehensive loss on unfunded retirement obligations (108 ) 38 (70 ) Total other comprehensive loss $(1,961 ) $687 $(1,274 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Six Months Ended June 30, 2014: Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $9,857 $(3,450 ) $6,407 Reclassification adjustment for (gains) realized in income (134 ) 47 (87 ) Other comprehensive income on available-for-sale securities 9,723 (3,403 ) 6,320 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 144 (50 ) 94 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (8 ) 3 (5 ) Other comprehensive income on unfunded retirement obligations 136 (47 ) 89 Total other comprehensive income $9,859 $(3,450 ) $6,409 (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Three Months Ended June 30, 2015: Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $(4,572 ) $1,601 $(2,971 ) Reclassification adjustment for (gains) realized in income (932 ) 326 (606 ) Other comprehensive loss on available-for-sale securities (5,504 ) 1,927 (3,577 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 0 0 0 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (5 ) 2 (3 ) Other comprehensive loss on unfunded retirement obligations (5 ) 2 (3 ) Total other comprehensive loss $(5,509 ) $1,929 $(3,580 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Three Months Ended June 30, 2014: Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $4,523 $(1,582 ) $2,941 Reclassification adjustment for (gains) realized in income (103 ) 36 (67 ) Other comprehensive income on available-for-sale securities 4,420 (1,546 ) 2,874 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 3 (1 ) 2 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (4 ) 2 (2 ) Other comprehensive loss on unfunded retirement obligations (1 ) 1 0 Total other comprehensive income $4,419 $(1,545 ) $2,874 Changes in the components of accumulated other comprehensive income are as follows and are presented net of tax: (In Thousands) Unrealized Unfunded Accumulated Holding Gains Pension and Other (Losses) Postretirement Comprehensive on Securities Obligations Income Six Months Ended June 30, 2015 Balance, beginning of period $5,281 $79 $5,360 Other comprehensive loss before reclassifications (550 ) (65 ) (615 ) Amounts reclassified from accumulated other comprehensive income (654 ) (5 ) (659 ) Other comprehensive loss (1,204 ) (70 ) (1,274 ) Balance, end of period $4,077 $9 $4,086 Six Months Ended June 30, 2014 Balance, beginning of period $(1,004 ) $11 $(993 ) Other comprehensive income before reclassifications 6,407 94 6,501 Amounts reclassified from accumulated other comprehensive income (87 ) (5 ) (92 ) Other comprehensive income 6,320 89 6,409 Balance, end of period $5,316 $100 $5,416 Three Months Ended June 30, 2015 Balance, beginning of period $7,654 $12 $7,666 Other comprehensive loss before reclassifications (2,971 ) 0 (2,971 ) Amounts reclassified from accumulated other comprehensive income (606 ) (3 ) (609 ) Other comprehensive loss (3,577 ) (3 ) (3,580 ) Balance, end of period $4,077 $9 $4,086 Three Months Ended June 30, 2014 Balance, beginning of period $2,442 $100 $2,542 Other comprehensive income before reclassifications 2,941 2 2,943 Amounts reclassified from accumulated other comprehensive income (67 ) (2 ) (69 ) Other comprehensive income 2,874 0 2,874 Balance, end of period $5,316 $100 $5,416 Items reclassified out of each component of other comprehensive income are as follows: For the Six Months Ended June 30, 2015 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(1,006 ) Realized gains on available-for-sale securities, net 352 Income tax provision (654 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (15 ) Pensions and other employee benefits Actuarial loss 7 Pensions and other employee benefits (8 ) Total before tax 3 Income tax provision (5 ) Net of tax Total reclassifications for the period $(659 ) For the Six Months Ended June 30, 2014 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(134 ) Realized gains on available-for-sale securities, net 47 Income tax provision (87 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (16 ) Pensions and other employee benefits Actuarial loss 8 Pensions and other employee benefits (8 ) Total before tax 3 Income tax provision (5 ) Net of tax Total reclassifications for the period $(92 ) For the Three Months Ended June 30, 2015 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(932 ) Realized gains on available-for-sale securities, net 326 Income tax provision (606 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (8 ) Pensions and other employee benefits Actuarial loss 3 Pensions and other employee benefits (5 ) Total before tax 2 Income tax provision (3 ) Net of tax Total reclassifications for the period $(609 ) For the Three Months Ended June 30, 2014 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(103 ) Realized gains on available-for-sale securities, net 36 Income tax provision (67 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (8 ) Pensions and other employee benefits Actuarial loss 4 Pensions and other employee benefits (4 ) Total before tax 2 Income tax provision (2 ) Net of tax Total reclassifications for the period $(69 ) |
Note 4 - Cash and Due from Bank
Note 4 - Cash and Due from Banks | 6 Months Ended |
Jun. 30, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents Disclosure [Text Block] | 4. CASH AND DUE FROM BANKS Cash and due from banks at June 30, 2015 and December 31, 2014 include the following: (In thousands) June 30 Dec. 31, 2015 2014 Cash and cash equivalents $30,977 $31,619 Certificates of deposit 4,428 4,428 Total cash and due from banks $35,405 $36,047 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 of Philadelphia. The reserves are based on deposit levels, account activity, and other services provided by the Federal Reserve Bank. Required reserves were $15,821,000 at June 30, 2015 and $16,853,000 at December 31, 2014. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements and Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 5. 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 June 30, 2015 and December 31, 2014, assets measured at fair value and the valuation methods used are as follows: June 30, 2015 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 $26,871 $0 $26,871 Obligations of states and political subdivisions: Tax-exempt 0 119,749 0 119,749 Taxable 0 35,135 0 35,135 Mortgage-backed securities 0 76,790 0 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 0 230,794 0 230,794 Collateralized debt obligations 0 34 0 34 Total debt securities 0 489,373 0 489,373 Marketable equity securities 7,738 0 0 7,738 Total available-for-sale securities 7,738 489,373 0 497,111 Servicing rights 0 0 1,209 1,209 Total recurring fair value measurements $7,738 $489,373 $1,209 $498,320 Nonrecurring fair value measurements Impaired loans with a valuation allowance $0 $0 $3,880 $3,880 Valuation allowance 0 0 (600 ) (600 ) Impaired loans, net 0 0 3,280 3,280 Foreclosed assets held for sale 0 0 1,223 1,223 Total nonrecurring fair value measurements $0 $0 $4,503 $4,503 December 31, 2014 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 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. At June 30, 2015 and December 31, 2014, quantitative information regarding significant techniques and inputs used for assets measured on a recurring basis using unobservable inputs (Level 3 methodologies) are as follows: Fair Value at 6/30/15 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 6/30/15 Servicing rights $1,209 Discounted cash flow Discount rate 10.00 % Rate used through modeling period Loan prepayment speeds 173.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $1.94 Miscellaneous fees per account per month Servicing costs $6.00 Monthly servicing cost per account $24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/14 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/14 Servicing rights $1,281 Discounted cash flow Discount rate 12.00 % Rate used through modeling period Loan prepayment speeds 156.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $1.94 Miscellaneous fees per account per month Servicing costs $6.00 Monthly servicing cost per account $24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % 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: (In Thousands) Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Servicing rights balance, beginning of period $1,195 $1,268 $1,281 $1,123 Issuances of servicing rights 47 66 78 106 Unrealized losses included in earnings (33 ) (53 ) (150 ) 52 Servicing rights balance, end of period $1,209 $1,281 $1,209 $1,281 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. 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. At June 30, 2015 and December 31, 2014, quantitative information regarding significant techniques and inputs used for nonrecurring fair value measurements using unobservable inputs (Level 3 methodologies) are as follows: (In Thousands, Except Value at Percentages) Valuation 6/30/15 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 6/30/15 6/30/15 6/30/15 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $1,104 $136 $968 Sales comparison Discount to appraised value 34 % Commercial: Commercial loans secured by real estate 322 80 242 Sales comparison Discount to appraised value 40 % Commercial and industrial 75 75 0 Sales comparison Discount to appraised value 45 % Commercial construction and land 1,815 211 1,604 Sales comparison Discount to appraised value 30 % Loans secured by farmland 564 98 466 Sales comparison Discount to appraised value 40 % Total impaired loans $3,880 $600 $3,280 Foreclosed assets held for sale - real estate: Residential (1-4 family) $487 $0 $487 Sales comparison Discount to appraised value 27 % Land 736 0 736 Sales comparison Discount to appraised value 26 % Total foreclosed assets held for sale $1,223 $0 $1,223 (In Thousands, Except Value at Percentages) Valuation 12/31/14 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/14 12/31/14 12/31/14 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $715 $358 $357 Sales comparison Discount to appraised value 36 % Commercial: Commercial loans secured by real estate 16 16 0 Sales comparison Discount to appraised value 42 % Commercial and industrial 150 82 68 Sales comparison Discount to appraised value 21 % Commercial construction and land 1,815 211 1,604 Sales comparison Discount to appraised value 30 % Loans secured by farmland 545 102 443 Sales comparison Discount to appraised value 40 % Total impaired loans $3,241 $769 $2,472 Foreclosed assets held for sale - real estate: Residential (1-4 family) $306 $0 $306 Sales comparison Discount to appraised value 42 % Commercial property 159 0 159 Sales comparison Discount to appraised value 23 % Land 724 0 724 Sales comparison Discount to appraised value 29 % Total foreclosed assets held for sale $1,189 $0 $1,189 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 - CERTIFICATES OF DEPOSIT - SECURITIES - LOANS HELD FOR SALE - LOANS - SERVICING RIGHTS - DEPOSITS - BORROWED FUNDS - ACCRUED INTEREST - OFF-BALANCE SHEET COMMITMENTS - The estimated fair values, and related carrying amounts, of the Corporation’s financial instruments are as follows: (In Thousands) Valuation June 30, 2015 December 31, 2014 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $30,977 $30,977 $31,619 $31,619 Certificates of deposit Level 2 4,428 4,443 4,428 4,443 Available-for-sale securities See Above 497,111 497,111 516,807 516,807 Restricted equity securities (included in Other Assets) Level 2 2,502 2,502 1,584 1,584 Loans held for sale Level 2 192 192 0 0 Loans, net Level 3 656,518 653,715 623,209 629,267 Accrued interest receivable Level 2 3,875 3,875 3,908 3,908 Servicing rights Level 3 1,209 1,209 1,281 1,281 Financial liabilities: Deposits with no stated maturity Level 2 738,317 738,317 729,052 729,052 Time deposits Level 2 240,132 241,030 238,937 239,712 Short-term borrowings Level 2 19,806 19,753 5,537 5,473 Long-term borrowings Level 2 62,916 68,017 73,060 78,866 Accrued interest payable Level 2 89 89 104 104 |
Note 6 - Securities
Note 6 - Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. SECURITIES Amortized cost and fair value of available-for-sale securities at June 30, 2015 and December 31, 2014 are summarized as follows: June 30, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $27,189 $39 $(357 ) $26,871 Obligations of states and political subdivisions: Tax-exempt 115,908 4,147 (306 ) 119,749 Taxable 34,872 394 (131 ) 35,135 Mortgage-backed securities 76,323 754 (287 ) 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 231,148 1,308 (1,662 ) 230,794 Collateralized debt obligations 34 0 0 34 Total debt securities 485,474 6,642 (2,743 ) 489,373 Marketable equity securities 5,365 2,383 (10 ) 7,738 Total $490,839 $9,025 $(2,753 ) $497,111 December 31, 2014 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 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 June 30, 2015 and December 31, 2014: June 30, 2015 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 $10,033 $(62 ) $14,180 $(295 ) $24,213 $(357 ) Obligations of states and political subdivisions: Tax-exempt 24,310 (283 ) 744 (23 ) 25,054 (306 ) Taxable 9,581 (61 ) 4,777 (70 ) 14,358 (131 ) Mortgage-backed securities 20,022 (213 ) 3,889 (74 ) 23,911 (287 ) Collateralized mortgage obligations, Issued by U.S. Government agencies 62,196 (341 ) 55,754 (1,321 ) 117,950 (1,662 ) Total debt securities 126,142 (960 ) 79,344 (1,783 ) 205,486 (2,743 ) Marketable equity securities 59 (10 ) 0 0 59 (10 ) Total temporarily impaired available-for-sale securities $126,201 $(970 ) $79,344 $(1,783 ) $205,545 $(2,753 ) December 31, 2014 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 ) Gross realized gains and losses from available-for-sale securities were as follows: (In Thousands) 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Gross realized gains from sales $932 $140 $1,006 $342 Gross realized losses from sales 0 (37 ) 0 (208 ) Net realized gains $932 $103 $1,006 $134 The amortized cost and fair value of available-for-sale debt securities by contractual maturity are shown in the following table as of June 30, 2015. 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 $10,599 $10,741 Due from one year through five years 62,421 63,102 Due from five years through ten years 60,873 61,305 Due after ten years 44,110 46,641 Subtotal 178,003 181,789 Mortgage-backed securities 76,323 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 231,148 230,794 Total $485,474 $489,373 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 $363,533,000 at June 30, 2015 and $369,945,000 at December 31, 2014 were pledged as collateral for public deposits, trusts and certain other deposits as provided by law. See Note 8 for information concerning securities pledged to secure borrowing arrangements. Management evaluates securities for other-than-temporary impairment (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. A summary of information management considered in evaluating debt and equity securities for OTTI at June 30, 2015 is provided below. Debt Securities At June 30, 2015, 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 debt securities at June 30, 2015 to be temporary. Equity Securities The Corporation’s marketable equity securities at June 30, 2015 and December 31, 2014 consisted exclusively of stocks of banking companies. At June 30, 2015, the Corporation held two stocks with an unrealized loss of $10,000 for which management determined an OTTI charge was not required. Realized gains from sales of bank stocks totaled $476,000 in the three-month and six-month periods ended June 30, 2015. The Corporation realized gains from sales of bank stocks totaling $74,000 in the three-month and six-month periods ended June 30, 2014. 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 $2,372,000 at June 30, 2015 and $1,454,000 at December 31, 2014. The Corporation evaluated its holding of FHLB-Pittsburgh stock for impairment and deemed the stock to not be impaired at June 30, 2015 and December 31, 2014. 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 7 - Loans
Note 7 - Loans | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 7. LOANS The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. Loans outstanding at June 30, 2015 and December 31, 2014 are summarized by segment, and by classes within each segment, as follows: Summary of Loans by Type (In Thousands) June 30, Dec. 31, 2015 2014 Residential mortgage: Residential mortgage loans - first liens $294,978 $291,882 Residential mortgage loans - junior liens 21,502 21,166 Home equity lines of credit 39,140 36,629 1-4 Family residential construction 19,651 16,739 Total residential mortgage 375,271 366,416 Commercial: Commercial loans secured by real estate 135,063 145,878 Commercial and industrial 61,427 50,157 Political subdivisions 40,908 17,534 Commercial construction and land 7,826 6,938 Loans secured by farmland 7,565 7,916 Multi-family (5 or more) residential 8,561 8,917 Agricultural loans 4,287 3,221 Other commercial loans 12,809 13,334 Total commercial 278,446 253,895 Consumer 10,101 10,234 Total 663,818 630,545 Less: allowance for loan losses (7,300 ) (7,336 ) Loans, net $656,518 $623,209 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 comprise 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 either June 30, 2015 or December 31, 2014. The Corporation maintains an allowance for loan losses that represents management’s estimate of the losses inherent in the loan portfolio as of the balance sheet date and recorded as a reduction of the investment in loans. 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 the process of evaluating the loan portfolio, management also considers the Corporation’s exposure to losses from unfunded loan commitments. As of June 30, 2015 and December 31, 2014, management determined that no allowance for credit losses related to unfunded loan commitments was required. Transactions within the allowance for loan losses, summarized by segment and class, for the three-month and six-month periods ended June 30, 2015 and 2014 were as follows: Three Months Ended June 30 , 2015 March 31, June 30, (In Thousands) 201 5 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,774 $(58 ) $0 $59 $2,775 Residential mortgage loans - junior liens 200 0 0 10 210 Home equity lines of credit 322 0 0 22 344 1-4 Family residential construction 207 0 0 50 257 Total residential mortgage 3,503 (58 ) 0 141 3,586 Commercial: Commercial loans secured by real estate 1,736 0 0 (44 ) 1,692 Commercial and industrial 684 0 3 113 800 Political subdivisions 0 0 0 0 0 Commercial construction and land 286 0 0 10 296 Loans secured by farmland 159 0 0 (4 ) 155 Multi-family (5 or more) residential 81 0 0 (1 ) 80 Agricultural loans 29 0 0 11 40 Other commercial loans 123 0 0 (3 ) 120 Total commercial 3,098 0 3 82 3,183 Consumer 139 (19 ) 19 (4 ) 135 Unallocated 394 0 0 2 396 Total Allowance for Loan Losses $7,134 $(77 ) $22 $221 $7,300 Three Months Ended June 30, 2014 March 31, June 30, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,863 $(40 ) $1 $142 $2,966 Residential mortgage loans - junior liens 280 0 0 0 280 Home equity lines of credit 271 0 0 6 277 1-4 Family residential construction 153 0 0 20 173 Total residential mortgage 3,567 (40 ) 1 168 3,696 Commercial: Commercial loans secured by real estate 3,081 (1,486 ) 0 301 1,896 Commercial and industrial 555 0 7 64 626 Political subdivisions 0 0 0 0 0 Commercial construction and land 247 0 5 (89 ) 163 Loans secured by farmland 98 0 0 (2 ) 96 Multi-family (5 or more) residential 105 0 0 (2 ) 103 Agricultural loans 30 0 0 0 30 Other commercial loans 138 0 0 (3 ) 135 Total commercial 4,254 (1,486 ) 12 269 3,049 Consumer 128 (20 ) 11 8 127 Unallocated 394 0 0 1 395 Total Allowance for Loan Losses $8,343 $(1,546 ) $24 $446 $7,267 Six Months Ended June 30, 2015 December 31, June 30, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,941 $(137 ) $1 $(30 ) $2,775 Residential mortgage loans - junior liens 176 0 0 34 210 Home equity lines of credit 322 0 0 22 344 1-4 Family residential construction 214 0 0 43 257 Total residential mortgage 3,653 (137 ) 1 69 3,586 Commercial: Commercial loans secured by real estate 1,758 (115 ) 0 49 1,692 Commercial and industrial 688 (10 ) 4 118 800 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 0 0 13 296 Loans secured by farmland 165 0 0 (10 ) 155 Multi-family (5 or more) residential 87 0 0 (7 ) 80 Agricultural loans 31 0 0 9 40 Other commercial loans 131 0 0 (11 ) 120 Total commercial 3,143 (125 ) 4 161 3,183 Consumer 145 (37 ) 34 (7 ) 135 Unallocated 395 0 0 1 396 Total Allowance for Loan Losses $7,336 $(299 ) $39 $224 $7,300 Six Months Ended June 30, 2014 December 31, June 30, (In Thousands) 2013 Balance Charge-offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,974 $(59 ) $1 $50 $2,966 Residential mortgage loans - junior liens 294 0 0 (14 ) $280 Home equity lines of credit 269 0 0 8 $277 1-4 Family residential construction 168 0 0 5 $173 Total residential mortgage 3,705 (59 ) 1 49 3,696 Commercial: Commercial loans secured by real estate 3,123 (1,521 ) 250 44 1,896 Commercial and industrial 591 (24 ) 8 51 626 Political subdivisions 0 0 0 0 0 Commercial construction and land 267 (170 ) 5 61 163 Loans secured by farmland 115 0 0 (19 ) 96 Multi-family (5 or more) residential 103 0 0 0 103 Agricultural loans 30 0 0 0 30 Other commercial loans 138 0 0 (3 ) 135 Total commercial 4,367 (1,715 ) 263 134 3,049 Consumer 193 (46 ) 25 (45 ) 127 Unallocated 398 0 0 (3 ) 395 Total Allowance for Loan Losses $8,663 $(1,820 ) $289 $135 $7,267 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. 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. 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 June 30, 2015 and December 31, 2014: June 30, 2015 Special (In Thousands) Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $286,168 $485 $8,252 $73 $294,978 Residential mortgage loans - junior liens 20,931 90 481 0 21,502 Home equity lines of credit 37,328 1,407 405 0 39,140 1-4 Family residential construction 19,632 19 0 0 19,651 Total residential mortgage 364,059 2,001 9,138 73 375,271 Commercial: Commercial loans secured by real estate 121,059 5,139 8,865 0 135,063 Commercial and Industrial 54,601 6,291 417 118 61,427 Political subdivisions 40,908 0 0 0 40,908 Commercial construction and land 5,744 164 1,918 0 7,826 Loans secured by farmland 5,668 423 1,451 23 7,565 Multi-family (5 or more) residential 8,287 274 0 0 8,561 Agricultural loans 4,266 0 21 0 4,287 Other commercial loans 12,727 82 0 0 12,809 Total Commercial 253,260 12,373 12,672 141 278,446 Consumer 9,915 22 164 0 10,101 Totals $627,234 $14,396 $21,974 $214 $663,818 December 31, 2014 (In Thousands) Pass Special 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 The general component of the allowance for loan losses covers pools of loans 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 are evaluated for loss exposure based upon three-year average historical net charge-off rates for each loan class, adjusted for qualitative factors. Qualitative risk factors (described in the following paragraph) are evaluated for the impact on each of the three 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. The adjustment for qualitative factors is applied as an increase or decrease to the three-year average net charge-off rate to each loan class within each segment. 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 57% at June 30, 2015) is 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. 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 tables summarizing the allowance and associated loan balances as of June 30, 2015 and December 31, 2014. 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 June 30, 2015 and December 31, 2014: June 30, 2015 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $1,755 $293,223 $294,978 $136 $2,639 $2,775 Residential mortgage loans - junior liens 77 21,425 21,502 0 210 210 Home equity lines of credit 0 39,140 39,140 0 344 344 1-4 Family residential construction 0 19,651 19,651 0 257 257 Total residential mortgage 1,832 373,439 375,271 136 3,450 3,586 Commercial: Commercial loans secured by real estate 6,145 128,918 135,063 80 1,612 1,692 Commercial and industrial 332 61,095 61,427 75 725 800 Political subdivisions 0 40,908 40,908 0 0 0 Commercial construction and land 1,840 5,986 7,826 211 85 296 Loans secured by farmland 1,474 6,091 7,565 98 57 155 Multi-family (5 or more) residential 0 8,561 8,561 0 80 80 Agricultural loans 21 4,266 4,287 0 40 40 Other commercial loans 0 12,809 12,809 0 120 120 Total commercial 9,812 268,634 278,446 464 2,719 3,183 Consumer 0 10,101 10,101 0 135 135 Unallocated 396 Total $11,644 $652,174 $663,818 $600 $6,304 $7,300 December 31, 2014 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 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 Summary information related to impaired loans at June 30, 2015 and December 31, 2014 is as follows: (In Thousands) June 30, 2015 December 31, 2014 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $651 $651 - $950 $950 - Residential mortgage loans - junior liens 77 77 - 17 17 - Commercial loans secured by real estate 7,409 5,823 - 8,062 6,521 - Commercial and industrial 257 257 - 513 513 - Commercial construction and land 25 25 - 124 124 - Loans secured by farmland 910 910 - 925 925 - Agricultural loans 21 21 - 25 25 - Total with no related allowance recorded 9,350 7,764 - 10,616 9,075 - With a related allowance recorded: Residential mortgage loans - first liens 1,104 1,104 136 715 715 358 Commercial loans secured by real estate 322 322 80 16 16 16 Commercial and industrial 75 75 75 150 150 82 Commercial construction and land 1,815 1,815 211 1,815 1,815 211 Loans secured by farmland 564 564 98 545 545 102 Agricultural loans 0 0 0 0 0 0 Total with a related allowance recorded 3,880 3,880 600 3,241 3,241 769 Total $13,230 $11,644 $600 $13,857 $12,316 $769 The average balance of impaired loans and interest income recognized on impaired loans is as follows: Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 2015 2014 2015 2014 Residential mortgage: Residential mortgage loans - first lien $3,701 $4,527 $3,819 $4,493 $20 $24 $58 $46 Residential mortgage loans - junior lien 66 197 57 214 1 0 2 2 Total residential mortgage 3,767 4,724 3,876 4,707 21 24 60 48 Commercial: Commercial loans secured by real estate 6,286 7,261 6,437 7,589 90 156 203 267 Commercial and industrial 423 882 513 986 5 9 12 19 Commercial construction and land 41 408 58 519 0 2 0 4 Loans secured by farmland 1,447 1,274 1,468 1,280 26 18 52 33 Agricultural loans 46 45 23 46 2 1 2 2 Total commercial 8,243 9,870 8,499 10,420 123 186 269 325 Consumer 0 1 0 2 0 0 0 0 Total $12,010 $14,595 $12,375 $15,129 $144 $210 $329 $373 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, including impaired 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. 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) June 30, 2015 December 31, 2014 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $1,706 $3,227 $1,989 $3,440 Residential mortgage loans - junior liens 14 50 82 50 Home equity lines of credit 58 20 49 22 Total residential mortgage 1,778 3,297 2,120 3,512 Commercial: Commercial loans secured by real estate 630 5,714 653 5,804 Commercial and industrial 0 257 5 379 Commercial construction and land 85 1,815 35 1,915 Loans secured by farmland 0 933 0 951 Agricultural loans 0 21 0 25 Total commercial 715 8,740 693 9,074 Consumer 36 23 30 24 Totals $2,529 $12,060 $2,843 $12,610 The amounts shown in the table immediately above include loans classified as troubled debt restructurings (described in more detail below), if such loans are past due ninety days or more or nonaccrual. The table below presents a summary of the contractual aging of loans as of June 30, 2015 and December 31, 2014: As of June 30, 2015 As of December 31, 2014 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 $288,923 $3,085 $2,970 $294,978 $282,766 $5,443 $3,673 $291,882 Residential mortgage loans - junior liens 21,134 312 56 21,502 20,853 190 123 21,166 Home equity lines of credit 38,888 194 58 39,140 36,300 258 71 36,629 1-4 Family residential construction 19,651 0 0 19,651 16,739 0 0 16,739 Total residential mortgage 368,596 3,591 3,084 375,271 356,658 5,891 3,867 366,416 Commercial: Commercial loans secured by real estate 133,590 338 1,135 135,063 143,713 883 1,282 145,878 Commercial and industrial 61,253 153 21 61,427 49,994 43 120 50,157 Political subdivisions 40,908 0 0 40,908 17,534 0 0 17,534 Commercial construction and land 5,896 30 1,900 7,826 4,897 91 1,950 6,938 Loans secured by farmland 6,704 23 838 7,565 6,811 254 851 7,916 Multi-family (5 or more) residential 8,561 0 0 8,561 8,720 197 0 8,917 Agricultural loans 3,958 308 21 4,287 3,105 91 25 3,221 Other commercial loans 12,809 0 0 12,809 13,334 0 0 13,334 Total commercial 273,679 852 3,915 278,446 248,108 1,559 4,228 253,895 Consumer 10,036 29 36 10,101 10,164 40 30 10,234 Totals $652,311 $4,472 $7,035 $663,818 $614,930 $7,490 $8,125 $630,545 Nonaccrual loans are included in the contractual aging in the immediately preceding table. A summary of the contractual aging of nonaccrual loans at June 30, 2015 and December 31, 2014 is as follows: Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Total June 30, 2015 Nonaccrual Totals $6,885 $669 $4,506 $12,060 December 31, 2014 Nonaccrual Totals $6,959 $369 $5,282 $12,610 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 contractual aging information at June 30, 2015 and December 31, 2014 is as follows: Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total June 30, 2015 Totals $1,013 $81 $25 $5,216 $6,335 December 31, 2014 Totals $1,725 $82 $0 $5,388 $7,195 There were no TDRs that occurred during the three-month period ended June 30, 2015. TDRs that occurred during the three-month period ended June 30, 2014 were as follows: Three Months Ended June 30, 2014 Pre- Post- Modification Modification Number Outstanding Outstanding Of Recorded Recorded Contracts Investment Investment Residential mortgage: Residential mortgage loans - first liens 2 $67 $67 Commercial: Commercial loans secured by real estate 5 6,679 5,193 Commercial and industrial 1 80 80 The TDRs related to residential mortgage loans in the three-month period ended June 30, 2014 included a reduction in payment amount on one contract and an interest only period allowed on one contract. The TDRs related to the commercial loans in the three-month period ended June 30, 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. In July 2015, the forbearance agreement was extended for twelve months. 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 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 charge-off, the total recorded investment in loans to this borrower amounted to $5,273,000, with no related allowance for loan losses on these loans at June 30, 2014, while the allowance on the loans amounted to $1,503,000 at March 31, 2014. There were no changes in the allowance for loan losses related to TDRs that occurred in the second quarter 2014. TDRs that occurred during the six-month periods ended June 30, 2015 and 2014 were as follows: Six Months Ended June 30, 2015 Pre- Post- (Balances in Thousands) Modification Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment Residential mortgage: Residential mortgage loans - first liens 1 $56 $56 Residential mortgage loans - junior liens 1 32 32 Consumer 1 30 30 Six Months Ended June 30, 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: 5 6,679 5,193 Commercial and industrial 1 80 80 The TDRs in the six-month period ended June 30, 2015 included an extended maturity date and a reduction in interest rate on a residential mortgage – first lien, a lowered interest rate and reduced payment amount on a residential mortgage – junior lien loan and a lowered interest rate and reduced payment amount on the consumer loan. There was no allowance for loan losses on these loans at June 30, 2015, and no change in the allowance for loan losses resulting from these TDRs. In addition to the TDRs that occurred in the second quarter 2014, which are described above, in the first quarter 2014 the Corporation agreed to a reduction in interest rate and payment amount on one residential mortgage loan. 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 June 30, 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 six-month period ended June 30, 2014. There were no defaults on loans for which modifications considered to be TDRs were entered into within the previous 12 months in the three-month period ended June 30, 2015. In the three-month period ended June 30, 2014, defaults on loans for which modifications considered to be TDRs were entered into within the previous 12 months were as follows: Number of Recorded Contracts Investment Three Months Ended June 30, 2014 (Balances in Thousands) Residential mortgage, 1 $83 Residential mortgage loans - junior liens 1 62 Commercial, Commercial loans secured by real estate 1 429 Agricultural 1 13 In the second quarter 2014, the events of default in the table listed above included a borrower’s failure to make the reduced payments provided for at a reduced interest rate on a first lien residential mortgage. The other events of default listed above in the three-month period resulted from the borrowers’ failure to make interest only monthly payments. There were no allowances for loan losses recorded on these loans at June 30, 2014. In the six-month periods ended June 30, 2015 and 2014, defaults on loans for which modifications considered to be TDRs were entered into within the previous 12 months were as follows: Number of Recorded Contracts Investment Six Months Ended June 30, 2015 (Balances in Thousands) Residential mortgage, Residential mortgage loans - first liens 2 $115 Commercial: Commercial loans secured by real estate 1 407 Commercial construction and land 1 25 Number of Recorded Contracts Investment Six Months Ended June 30, 2014 (Balances in Thousands) Residential mortgage: 2 $223 Residential mortgage loans - junior liens 1 62 Commercial, Commercial loans secured by real estate 1 429 Loans secured by farmland 4 490 Agricultural 1 13 In the six-month period ended June 30, 2015, the events of default in the table listed above resulted from the borrowers’ failure to make timely payments under the following circumstances: (1) for one customer relationship included in the Residential first lien mortgage class, payment was missed after the interest rate and monthly payment amount had been reduced; (2) for the other customer relationship included in the Residential first lien mortgage class, monthly payments were missed after reducing the monthly payments to interest only payments; (3) for the Commercial loan secured by real estate, monthly payments were missed after reducing the monthly payments to interest only; and (4) for the Commercial construction and land loan, monthly payments were missed after extending the term of maturity. There were no allowances for loan losses recorded on these loans at June 30, 2015. In the six-month period ended June 30, 2014, the events of default in the table listed above included a borrower’s failure to make reduced payments provided for at a reduced interest rate on a first lien residential mortgage. The other events of default listed above in the six-month period ended June 30, 2014 resulted from the borrowers’ failure to make interest only monthly payments. There were no allowances for loan losses recorded on these loans at June 30, 2014. At June 30, 2015, the carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession (included in Foreclosed assets held for sale in the unaudited consolidated balance sheet) was $487,000. At June 30, 2015, the recorded investment of consumer mortgage loans secured by residential real estate |
Note 8 - Borrowed Funds
Note 8 - Borrowed Funds | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 8. BORROWED FUNDS SHORT-TERM BORROWINGS Short-term borrowings include the following: (In Thousands) June 30, Dec. 31 2015 2014 FHLB-Pittsburgh borrowings $15,000 $0 Customer repurchase agreements 4,806 5,537 Total short-term borrowings $19,806 $5,537 The FHLB-Pittsburgh loan facilities are collateralized by qualifying loans secured by real estate with a book value totaling $443,861,000 at June 30, 2015 and $446,780,000 at December 31, 2014. 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 $2,372,000 at June 30, 2015 and $1,454,000 at December 31, 2014. The short-term borrowing from the FHLB-Pittsburgh is an overnight borrowing and has an interest rate of 0.34%. 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 June 30, 2015 and December 31, 2014. The carrying value of the underlying securities was $4,860,000 at June 30, 2015 and $5,590,000 at December 31, 2014. LONG-TERM BORROWINGS Long-term borrowings are as follows: (In Thousands) June 30, Dec. 31 2015 2014 FHLB-Pittsburgh borrowings $11,916 $12,060 Repurchase agreements 51,000 61,000 Total long-term borrowings $62,916 $73,060 Long-term borrowings from FHLB - Pittsburgh are as follows: (In Thousands) June 30, Dec. 31 2015 2014 Loan maturing in 2016 with a rate of 6.86% $83 $107 Loan maturing in 2017 with a rate of 6.83% 13 16 Loan maturing in 2017 with a rate of 3.81% 10,000 10,000 Loan maturing in 2020 with a rate of 4.79% 905 987 Loan maturing in 2025 with a rate of 4.91% 915 950 Total long-term FHLB-Pittsburgh borrowings $11,916 $12,060 Repurchase agreements included in long-term borrowings are as follows: (In Thousands) June 30, Dec. 31 2015 2014 Agreement maturing in 2017 with a rate of 3.595% $27,000 $27,000 Agreement maturing in 2017 with a rate of 4.265% 24,000 34,000 Total long-term repurchase agreements $51,000 $61,000 The Corporation incurred a loss of $910,000 in the second quarter of 2015 on prepayment of $10,000,000 of the agreement with an interest rate of 4.265%. “Repurchase Dates,” as defined in the Master Repurchase Agreement between the Corporation and the broker-dealer, occur quarterly on or about the 20 th 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 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 $64,212,000 at June 30, 2015 and $70,982,000 at December 31, 2014, detailed in the following table: (In Thousands) June 30, December 31, 2015 2014 Mortgage-backed securities $ 21,888 $ 24,114 Collateralized mortgage obligations, Issued by U.S. Government agencies 42,324 46,868 Total $ 64,212 $ 70,982 Two of the more significant risks associated with the repurchase agreements are as follows: ● The borrowings are putable at quarterly intervals by the issuer. Accordingly, if interest rates were to rise to a sufficient level, the issuer would be expected to require the Corporation to pay off the borrowings. In this circumstance, the Corporation would be required to obtain new borrowings at a higher interest rate than the existing repurchase agreements or utilize cash from other sources to pay off the borrowings. If sales of available-for-sale securities were used to generate cash to pay off the borrowings, the value of such securities would be expected to have fallen, which could result in the Corporation recognizing a loss. ● As principal pay-downs of mortgage backed securities and CMOs occur, the Corporation must have available, unencumbered assets or purchase a sufficient amount of assets with credit quality suitable to the broker-dealer to replace the amounts being paid off. Since pre-payments of mortgages typically increase as interest rates fall, the Corporation may be required to purchase additional assets at times when market rates are lower than the rates paid on the borrowings. The Corporation manages these risks by maintaining sufficient available assets of acceptable credit quality, as well as maintaining other borrowing facilities, to meet ongoing collateral maintenance requirements or pay off the borrowings if required. In particular, the Corporation had unused borrowing capacity available from the FHLB-Pittsburgh of $292,963,000 at June 30, 2015. |
Note 9 - Defined Benefit Plans
Note 9 - Defined Benefit Plans | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 9. 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. Full-time employees no longer accrue service time toward the Corporation-subsidized portion of the medical benefits. 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 June 30, 2015 and December 31, 2014, 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 components of net periodic benefit costs from these defined benefit plans are as follows: (In Thousands) Pension Postretirement Six Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $0 $0 $19 $17 Interest cost 18 37 28 29 Expected return on plan assets (23 ) (44 ) 0 0 Amortization of prior service cost 0 0 (15 ) (16 ) Recognized net actuarial loss 7 8 0 0 Net periodic benefit cost $2 $1 $32 $30 (In Thousands) Pension Postretirement Three Months Ended Three Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $0 $0 $9 $8 Interest cost 9 19 15 15 Expected return on plan assets (12 ) (22 ) 0 0 Amortization of prior service cost 0 0 (8 ) (8 ) Recognized net actuarial loss 3 4 0 0 Net periodic benefit cost $0 $1 $16 $15 In the first six months of 2015, the Corporation funded postretirement contributions totaling $31,000, with estimated annual postretirement contributions of $65,000 expected in 2015 for the full year. Based upon the related actuarial reports, no defined benefit pension contributions are required in 2015, though the Corporation may make discretionary contributions. |
Note 10 - Stock-based Compensat
Note 10 - Stock-based Compensation Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 10. STOCK-BASED COMPENSATION PLANS The Corporation has a Stock Incentive Plan for a selected group of officers. Also, the Corporation has an Independent Directors Stock Incentive Plan. In the first quarter 2015, the Corporation issued restricted stock under each of the Plans. In the first quarter 2014, the Corporation issued stock options and restricted stock under each of the Plans. In the first quarter 2015, the Corporation awarded a total of 34,800 shares of restricted stock under the Stock Incentive and Independent Directors Stock Incentive Plans. In the first quarter 2014, a total of 16,711 shares of restricted stock were awarded under the Plans. Restricted stock awards in the first quarter 2015 included the following: (1) a total of 20,298 shares to employees, vesting over a four-year term, with vesting contingent upon the Corporation meeting an annual return on average equity (“ROAE”) performance ratio, as defined; (2) a total of 2,198 shares to employees, vesting over a four-year term, with vesting dependent on satisfactory performance; (3) an award to the Chief Executive Officer of 5,174 shares, vesting over a three-year term, with vesting dependent on satisfactory performance; and (4) a total of 7,130 shares under the Independent Directors Incentive Plan, vesting over a term of one year. Compensation cost related to restricted stock is recognized based on the market price of the stock at the grant date over the vesting period. Management has estimated restricted stock expense in the first six months of 2015 based on an assumption that the ROAE target for 2015 will be met. In January 2014, the Corporation granted options to purchase a total of 39,027 shares of common stock. The exercise price for the 2014 awards is $20.45 per share, based on the market price as of the date of grant. Stock option expense is recognized over the vesting period of each option. The Corporation records stock option expense based on estimated fair value calculated using an option valuation model. In calculating the 2014 fair value, the Corporation utilized the Black-Scholes-Merton option-pricing model. The calculated fair value of each option granted, and significant assumptions used in the calculations, were as follows: 2014 Fair value of each option granted $5.50 Volatility 39% Expected option lives ( 8 Risk-free interest rate 2.85% Dividend yield 4.33% In calculating the estimated fair value of stock option awards, management based its estimates of volatility and dividend yield on the Corporation’s experience over the immediately prior period of time consistent with the estimated lives of the options. The risk-free interest rate was based on the published yield of zero-coupon U.S. Treasury strips with an applicable maturity as of the grant dates. The expected option lives were based on management’s estimates of the average term for all options issued under both plans. In 2014, management assumed a 34% forfeiture rate for options granted under the Stock Incentive Plan, and a 3% forfeiture rate for the Directors Stock Incentive Plan. These estimated forfeiture rates were determined based on the Corporation’s historical experience. Total stock-based compensation expense is as follows: (In Thousands) 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Stock options $0 $59 $0 $154 Restricted stock 157 113 307 230 Total $157 $172 $307 $384 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 11. INCOME TAXES The net deferred tax asset at June 30, 2015 and December 31, 2014 represents the following temporary difference components: June 30, December 31, (In Thousands) 2015 2014 Deferred tax assets: Net realized losses on securities $144 $144 Allowance for loan losses 2,555 2,568 Credit for alternative minimum tax paid 74 537 Other deferred tax assets 2,490 2,595 Total deferred tax assets 5,263 5,844 Deferred tax liabilities: Unrealized holding gains on securities 2,195 2,844 Defined benefit plans - ASC 835 5 43 Bank premises and equipment 991 1,134 Core deposit intangibles 14 18 Other deferred tax liabilities 127 137 Total deferred tax liabilities 3,332 4,176 Deferred tax asset, net $1,931 $1,668 The provision for income tax for the three-month and six-month periods ended June 30, 2015 and 2014 is based on the Corporation’s estimate of the effective tax rate expected to be applicable for the full year. The effective tax rates for the Corporation are as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2015 2014 2015 2014 Income before income tax provision $5,809 $5,563 $10,853 $11,250 Income tax provision 1,452 1,400 2,681 2,799 Effective tax rate 25.00 % 25.17 % 24.70 % 24.88 % The effective tax rate for each period presented differs from the statutory rate of 35% principally because of the effects of tax-exempt interest income. 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 received tax credits in 2013 and 2014 and expects to continue to receive tax credits annually through 2022. The carrying amount of the Corporation’s investment is $862,000 at June 30, 2015 and $906,000 at December 31, 2014 (included in Other Assets in the consolidated balance sheets). For the year ending December 31, 2015, the estimated amount of tax credits and other tax benefits to be received is $158,000 and the estimated amount to be recognized as a reduction of the provision for income taxes is $80,000. For the year ended December 31, 2014, tax credits and other tax benefits totaled $159,000 and the amount recognized as a reduction of the provision for income taxes for 2014 was $83,000. The reduction in the provision for income taxes resulting from this investment totaled $20,000 in the second quarter 2014 and $40,000 for the six months ended June 30, 2015, and $20,000 in the second quarter 2014 and $41,000 for the six months ended June 30, 2014. 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 2010. |
Note 12 - Contingencies
Note 12 - Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 12. CONTINGENCIES In the normal course of business, the Corporation may be subject to pending and threatened lawsuits in which claims for monetary damages could be asserted. In management’s opinion, the Corporation’s financial position and results of operations would not be materially affected by the outcome of such pending legal proceedings. |
Note 13 - Recent Accounting Pro
Note 13 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Changes and Error Corrections [Text Block] | 13. RECENT ACCOUNTING PRONOUNCEMENTS The FASB issues Accounting Standards Updates (ASUs) to the FASB 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 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 became 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 11 to these unaudited 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 became effective for the Corporation for annual and interim periods beginning in the first quarter 2015. The Corporation has applied the amendments to its accounting and reporting practices prospectively in the first quarter 2015. Disclosures required by the Update are provided in Note 7 to these unaudited consolidated financial statements. 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. ASU 2014-09 would be effective for all annual and interim periods beginning in the first quarter 2017; however, in July 2015 the FASB reached a tentative decision to defer the effective date by a year, which if finalized would make it applicable for the Corporation in the first quarter 2018. 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 8 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 became effective for the Corporation for annual and interim periods beginning in the first quarter 2015, and the impact of the amendment was not significant to the Corporation. |
Note 2 - Per Share Data (Tables
Note 2 - Per Share Data (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Weighted- Average Earnings Net Common Per Income Shares Share Six Months Ended June 30, 2015 Earnings per share – basic $8,172,000 12,233,964 $0.67 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 218,115 Hypothetical share repurchase at $19.97 (196,407 ) Earnings per share – diluted $8,172,000 12,255,672 $0.67 Six Months Ended June 30, 2014 Earnings per share – basic $8,451,000 12,429,717 $0.68 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 239,291 Hypothetical share repurchase at $19.25 (217,549 ) Earnings per share – diluted $8,451,000 12,451,459 $0.68 Weighted- Average Earnings Net Common Per Income Shares Share Three Months Ended June 30, 2015 Earnings per share – basic $4,357,000 12,199,996 $0.36 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 205,024 Hypothetical share repurchase at $20.15 (182,494 ) Earnings per share – diluted $4,357,000 12,222,526 $0.36 Three Months Ended June 30, 2014 Earnings per share – basic $4,163,000 12,441,679 $0.33 Dilutive effect of potential common stock arising from stock options: Exercise of outstanding stock options 174,840 Hypothetical share repurchase at $18.81 (157,135 ) Earnings per share – diluted $4,163,000 12,459,384 $0.33 |
Note 3 - Comprehensive Income (
Note 3 - Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) [Table Text Block] | (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Six Months Ended June 30, 2015: Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $(847 ) $297 $(550 ) Reclassification adjustment for (gains) realized in income (1,006 ) 352 (654 ) Other comprehensive loss on available-for-sale securities (1,853 ) 649 (1,204 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income (100 ) 35 (65 ) Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (8 ) 3 (5 ) Other comprehensive loss on unfunded retirement obligations (108 ) 38 (70 ) Total other comprehensive loss $(1,961 ) $687 $(1,274 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Six Months Ended June 30, 2014: Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $9,857 $(3,450 ) $6,407 Reclassification adjustment for (gains) realized in income (134 ) 47 (87 ) Other comprehensive income on available-for-sale securities 9,723 (3,403 ) 6,320 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 144 (50 ) 94 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (8 ) 3 (5 ) Other comprehensive income on unfunded retirement obligations 136 (47 ) 89 Total other comprehensive income $9,859 $(3,450 ) $6,409 (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Three Months Ended June 30, 2015: Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $(4,572 ) $1,601 $(2,971 ) Reclassification adjustment for (gains) realized in income (932 ) 326 (606 ) Other comprehensive loss on available-for-sale securities (5,504 ) 1,927 (3,577 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 0 0 0 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (5 ) 2 (3 ) Other comprehensive loss on unfunded retirement obligations (5 ) 2 (3 ) Total other comprehensive loss $(5,509 ) $1,929 $(3,580 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount Three Months Ended June 30, 2014: Unrealized gains on available-for-sale securities: Unrealized holding gains on available-for-sale securities $4,523 $(1,582 ) $2,941 Reclassification adjustment for (gains) realized in income (103 ) 36 (67 ) Other comprehensive income on available-for-sale securities 4,420 (1,546 ) 2,874 Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 3 (1 ) 2 Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost (4 ) 2 (2 ) Other comprehensive loss on unfunded retirement obligations (1 ) 1 0 Total other comprehensive income $4,419 $(1,545 ) $2,874 |
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 Six Months Ended June 30, 2015 Balance, beginning of period $5,281 $79 $5,360 Other comprehensive loss before reclassifications (550 ) (65 ) (615 ) Amounts reclassified from accumulated other comprehensive income (654 ) (5 ) (659 ) Other comprehensive loss (1,204 ) (70 ) (1,274 ) Balance, end of period $4,077 $9 $4,086 Six Months Ended June 30, 2014 Balance, beginning of period $(1,004 ) $11 $(993 ) Other comprehensive income before reclassifications 6,407 94 6,501 Amounts reclassified from accumulated other comprehensive income (87 ) (5 ) (92 ) Other comprehensive income 6,320 89 6,409 Balance, end of period $5,316 $100 $5,416 Three Months Ended June 30, 2015 Balance, beginning of period $7,654 $12 $7,666 Other comprehensive loss before reclassifications (2,971 ) 0 (2,971 ) Amounts reclassified from accumulated other comprehensive income (606 ) (3 ) (609 ) Other comprehensive loss (3,577 ) (3 ) (3,580 ) Balance, end of period $4,077 $9 $4,086 Three Months Ended June 30, 2014 Balance, beginning of period $2,442 $100 $2,542 Other comprehensive income before reclassifications 2,941 2 2,943 Amounts reclassified from accumulated other comprehensive income (67 ) (2 ) (69 ) Other comprehensive income 2,874 0 2,874 Balance, end of period $5,316 $100 $5,416 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Six Months Ended June 30, 2015 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(1,006 ) Realized gains on available-for-sale securities, net 352 Income tax provision (654 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (15 ) Pensions and other employee benefits Actuarial loss 7 Pensions and other employee benefits (8 ) Total before tax 3 Income tax provision (5 ) Net of tax Total reclassifications for the period $(659 ) For the Six Months Ended June 30, 2014 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(134 ) Realized gains on available-for-sale securities, net 47 Income tax provision (87 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (16 ) Pensions and other employee benefits Actuarial loss 8 Pensions and other employee benefits (8 ) Total before tax 3 Income tax provision (5 ) Net of tax Total reclassifications for the period $(92 ) (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(932 ) Realized gains on available-for-sale securities, net 326 Income tax provision (606 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (8 ) Pensions and other employee benefits Actuarial loss 3 Pensions and other employee benefits (5 ) Total before tax 2 Income tax provision (3 ) Net of tax Total reclassifications for the period $(609 ) For the Three Months Ended June 30, 2014 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $(103 ) Realized gains on available-for-sale securities, net 36 Income tax provision (67 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (8 ) Pensions and other employee benefits Actuarial loss 4 Pensions and other employee benefits (4 ) Total before tax 2 Income tax provision (2 ) Net of tax Total reclassifications for the period $(69 ) |
Note 4 - Cash and Due from Ba24
Note 4 - Cash and Due from Banks (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Cash and Cash Equivalents [Table Text Block] | (In thousands) June 30 Dec. 31, 2015 2014 Cash and cash equivalents $30,977 $31,619 Certificates of deposit 4,428 4,428 Total cash and due from banks $35,405 $36,047 |
Note 5 - Fair Value Measureme25
Note 5 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2015 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 $26,871 $0 $26,871 Obligations of states and political subdivisions: Tax-exempt 0 119,749 0 119,749 Taxable 0 35,135 0 35,135 Mortgage-backed securities 0 76,790 0 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 0 230,794 0 230,794 Collateralized debt obligations 0 34 0 34 Total debt securities 0 489,373 0 489,373 Marketable equity securities 7,738 0 0 7,738 Total available-for-sale securities 7,738 489,373 0 497,111 Servicing rights 0 0 1,209 1,209 Total recurring fair value measurements $7,738 $489,373 $1,209 $498,320 Nonrecurring fair value measurements Impaired loans with a valuation allowance $0 $0 $3,880 $3,880 Valuation allowance 0 0 (600 ) (600 ) Impaired loans, net 0 0 3,280 3,280 Foreclosed assets held for sale 0 0 1,223 1,223 Total nonrecurring fair value measurements $0 $0 $4,503 $4,503 December 31, 2014 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 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value at 6/30/15 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 6/30/15 Servicing rights $1,209 Discounted cash flow Discount rate 10.00 % Rate used through modeling period Loan prepayment speeds 173.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $1.94 Miscellaneous fees per account per month Servicing costs $6.00 Monthly servicing cost per account $24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/14 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/14 Servicing rights $1,281 Discounted cash flow Discount rate 12.00 % Rate used through modeling period Loan prepayment speeds 156.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $1.94 Miscellaneous fees per account per month Servicing costs $6.00 Monthly servicing cost per account $24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs (In Thousands, Except Value at Percentages) Valuation 6/30/15 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 6/30/15 6/30/15 6/30/15 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $1,104 $136 $968 Sales comparison Discount to appraised value 34 % Commercial: Commercial loans secured by real estate 322 80 242 Sales comparison Discount to appraised value 40 % Commercial and industrial 75 75 0 Sales comparison Discount to appraised value 45 % Commercial construction and land 1,815 211 1,604 Sales comparison Discount to appraised value 30 % Loans secured by farmland 564 98 466 Sales comparison Discount to appraised value 40 % Total impaired loans $3,880 $600 $3,280 Foreclosed assets held for sale - real estate: Residential (1-4 family) $487 $0 $487 Sales comparison Discount to appraised value 27 % Land 736 0 736 Sales comparison Discount to appraised value 26 % Total foreclosed assets held for sale $1,223 $0 $1,223 (In Thousands, Except Value at Percentages) Valuation 12/31/14 Balance at Allowance at Fair Value at Valuation Unobservable (Weighted Asset 12/31/14 12/31/14 12/31/14 Technique Inputs Average) Impaired loans: Residential mortgage loans - first liens $715 $358 $357 Sales comparison Discount to appraised value 36 % Commercial: Commercial loans secured by real estate 16 16 0 Sales comparison Discount to appraised value 42 % Commercial and industrial 150 82 68 Sales comparison Discount to appraised value 21 % Commercial construction and land 1,815 211 1,604 Sales comparison Discount to appraised value 30 % Loans secured by farmland 545 102 443 Sales comparison Discount to appraised value 40 % Total impaired loans $3,241 $769 $2,472 Foreclosed assets held for sale - real estate: Residential (1-4 family) $306 $0 $306 Sales comparison Discount to appraised value 42 % Commercial property 159 0 159 Sales comparison Discount to appraised value 23 % Land 724 0 724 Sales comparison Discount to appraised value 29 % Total foreclosed assets held for sale $1,189 $0 $1,189 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (In Thousands) Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Servicing rights balance, beginning of period $1,195 $1,268 $1,281 $1,123 Issuances of servicing rights 47 66 78 106 Unrealized losses included in earnings (33 ) (53 ) (150 ) 52 Servicing rights balance, end of period $1,209 $1,281 $1,209 $1,281 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (In Thousands) Valuation June 30, 2015 December 31, 2014 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $30,977 $30,977 $31,619 $31,619 Certificates of deposit Level 2 4,428 4,443 4,428 4,443 Available-for-sale securities See Above 497,111 497,111 516,807 516,807 Restricted equity securities (included in Other Assets) Level 2 2,502 2,502 1,584 1,584 Loans held for sale Level 2 192 192 0 0 Loans, net Level 3 656,518 653,715 623,209 629,267 Accrued interest receivable Level 2 3,875 3,875 3,908 3,908 Servicing rights Level 3 1,209 1,209 1,281 1,281 Financial liabilities: Deposits with no stated maturity Level 2 738,317 738,317 729,052 729,052 Time deposits Level 2 240,132 241,030 238,937 239,712 Short-term borrowings Level 2 19,806 19,753 5,537 5,473 Long-term borrowings Level 2 62,916 68,017 73,060 78,866 Accrued interest payable Level 2 89 89 104 104 |
Note 6 - Securities (Tables)
Note 6 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | June 30, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $27,189 $39 $(357 ) $26,871 Obligations of states and political subdivisions: Tax-exempt 115,908 4,147 (306 ) 119,749 Taxable 34,872 394 (131 ) 35,135 Mortgage-backed securities 76,323 754 (287 ) 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 231,148 1,308 (1,662 ) 230,794 Collateralized debt obligations 34 0 0 34 Total debt securities 485,474 6,642 (2,743 ) 489,373 Marketable equity securities 5,365 2,383 (10 ) 7,738 Total $490,839 $9,025 $(2,753 ) $497,111 December 31, 2014 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 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2015 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 $10,033 $(62 ) $14,180 $(295 ) $24,213 $(357 ) Obligations of states and political subdivisions: Tax-exempt 24,310 (283 ) 744 (23 ) 25,054 (306 ) Taxable 9,581 (61 ) 4,777 (70 ) 14,358 (131 ) Mortgage-backed securities 20,022 (213 ) 3,889 (74 ) 23,911 (287 ) Collateralized mortgage obligations, Issued by U.S. Government agencies 62,196 (341 ) 55,754 (1,321 ) 117,950 (1,662 ) Total debt securities 126,142 (960 ) 79,344 (1,783 ) 205,486 (2,743 ) Marketable equity securities 59 (10 ) 0 0 59 (10 ) Total temporarily impaired available-for-sale securities $126,201 $(970 ) $79,344 $(1,783 ) $205,545 $(2,753 ) December 31, 2014 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 ) |
Realized Gain (Loss) on Investments [Table Text Block] | (In Thousands) 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Gross realized gains from sales $932 $140 $1,006 $342 Gross realized losses from sales 0 (37 ) 0 (208 ) Net realized gains $932 $103 $1,006 $134 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (In Thousands) Cost Value Due in one year or less $10,599 $10,741 Due from one year through five years 62,421 63,102 Due from five years through ten years 60,873 61,305 Due after ten years 44,110 46,641 Subtotal 178,003 181,789 Mortgage-backed securities 76,323 76,790 Collateralized mortgage obligations, Issued by U.S. Government agencies 231,148 230,794 Total $485,474 $489,373 |
Note 7 - Loans (Tables)
Note 7 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Note 7 - Loans (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Summary of Loans by Type (In Thousands) June 30, Dec. 31, 2015 2014 Residential mortgage: Residential mortgage loans - first liens $294,978 $291,882 Residential mortgage loans - junior liens 21,502 21,166 Home equity lines of credit 39,140 36,629 1-4 Family residential construction 19,651 16,739 Total residential mortgage 375,271 366,416 Commercial: Commercial loans secured by real estate 135,063 145,878 Commercial and industrial 61,427 50,157 Political subdivisions 40,908 17,534 Commercial construction and land 7,826 6,938 Loans secured by farmland 7,565 7,916 Multi-family (5 or more) residential 8,561 8,917 Agricultural loans 4,287 3,221 Other commercial loans 12,809 13,334 Total commercial 278,446 253,895 Consumer 10,101 10,234 Total 663,818 630,545 Less: allowance for loan losses (7,300 ) (7,336 ) Loans, net $656,518 $623,209 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three Months Ended June 30 , 2015 March 31, June 30, (In Thousands) 201 5 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,774 $(58 ) $0 $59 $2,775 Residential mortgage loans - junior liens 200 0 0 10 210 Home equity lines of credit 322 0 0 22 344 1-4 Family residential construction 207 0 0 50 257 Total residential mortgage 3,503 (58 ) 0 141 3,586 Commercial: Commercial loans secured by real estate 1,736 0 0 (44 ) 1,692 Commercial and industrial 684 0 3 113 800 Political subdivisions 0 0 0 0 0 Commercial construction and land 286 0 0 10 296 Loans secured by farmland 159 0 0 (4 ) 155 Multi-family (5 or more) residential 81 0 0 (1 ) 80 Agricultural loans 29 0 0 11 40 Other commercial loans 123 0 0 (3 ) 120 Total commercial 3,098 0 3 82 3,183 Consumer 139 (19 ) 19 (4 ) 135 Unallocated 394 0 0 2 396 Total Allowance for Loan Losses $7,134 $(77 ) $22 $221 $7,300 Three Months Ended June 30, 2014 March 31, June 30, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,863 $(40 ) $1 $142 $2,966 Residential mortgage loans - junior liens 280 0 0 0 280 Home equity lines of credit 271 0 0 6 277 1-4 Family residential construction 153 0 0 20 173 Total residential mortgage 3,567 (40 ) 1 168 3,696 Commercial: Commercial loans secured by real estate 3,081 (1,486 ) 0 301 1,896 Commercial and industrial 555 0 7 64 626 Political subdivisions 0 0 0 0 0 Commercial construction and land 247 0 5 (89 ) 163 Loans secured by farmland 98 0 0 (2 ) 96 Multi-family (5 or more) residential 105 0 0 (2 ) 103 Agricultural loans 30 0 0 0 30 Other commercial loans 138 0 0 (3 ) 135 Total commercial 4,254 (1,486 ) 12 269 3,049 Consumer 128 (20 ) 11 8 127 Unallocated 394 0 0 1 395 Total Allowance for Loan Losses $8,343 $(1,546 ) $24 $446 $7,267 Six Months Ended June 30, 2015 December 31, June 30, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,941 $(137 ) $1 $(30 ) $2,775 Residential mortgage loans - junior liens 176 0 0 34 210 Home equity lines of credit 322 0 0 22 344 1-4 Family residential construction 214 0 0 43 257 Total residential mortgage 3,653 (137 ) 1 69 3,586 Commercial: Commercial loans secured by real estate 1,758 (115 ) 0 49 1,692 Commercial and industrial 688 (10 ) 4 118 800 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 0 0 13 296 Loans secured by farmland 165 0 0 (10 ) 155 Multi-family (5 or more) residential 87 0 0 (7 ) 80 Agricultural loans 31 0 0 9 40 Other commercial loans 131 0 0 (11 ) 120 Total commercial 3,143 (125 ) 4 161 3,183 Consumer 145 (37 ) 34 (7 ) 135 Unallocated 395 0 0 1 396 Total Allowance for Loan Losses $7,336 $(299 ) $39 $224 $7,300 Six Months Ended June 30, 2014 December 31, June 30, (In Thousands) 2013 Balance Charge-offs Recoveries Provision (Credit) 2014 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $2,974 $(59 ) $1 $50 $2,966 Residential mortgage loans - junior liens 294 0 0 (14 ) $280 Home equity lines of credit 269 0 0 8 $277 1-4 Family residential construction 168 0 0 5 $173 Total residential mortgage 3,705 (59 ) 1 49 3,696 Commercial: Commercial loans secured by real estate 3,123 (1,521 ) 250 44 1,896 Commercial and industrial 591 (24 ) 8 51 626 Political subdivisions 0 0 0 0 0 Commercial construction and land 267 (170 ) 5 61 163 Loans secured by farmland 115 0 0 (19 ) 96 Multi-family (5 or more) residential 103 0 0 0 103 Agricultural loans 30 0 0 0 30 Other commercial loans 138 0 0 (3 ) 135 Total commercial 4,367 (1,715 ) 263 134 3,049 Consumer 193 (46 ) 25 (45 ) 127 Unallocated 398 0 0 (3 ) 395 Total Allowance for Loan Losses $8,663 $(1,820 ) $289 $135 $7,267 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2015 Special (In Thousands) Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $286,168 $485 $8,252 $73 $294,978 Residential mortgage loans - junior liens 20,931 90 481 0 21,502 Home equity lines of credit 37,328 1,407 405 0 39,140 1-4 Family residential construction 19,632 19 0 0 19,651 Total residential mortgage 364,059 2,001 9,138 73 375,271 Commercial: Commercial loans secured by real estate 121,059 5,139 8,865 0 135,063 Commercial and Industrial 54,601 6,291 417 118 61,427 Political subdivisions 40,908 0 0 0 40,908 Commercial construction and land 5,744 164 1,918 0 7,826 Loans secured by farmland 5,668 423 1,451 23 7,565 Multi-family (5 or more) residential 8,287 274 0 0 8,561 Agricultural loans 4,266 0 21 0 4,287 Other commercial loans 12,727 82 0 0 12,809 Total Commercial 253,260 12,373 12,672 141 278,446 Consumer 9,915 22 164 0 10,101 Totals $627,234 $14,396 $21,974 $214 $663,818 December 31, 2014 (In Thousands) Pass Special 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 |
Impaired Financing Receivable by Portfolio Segment [Table Text Block] | June 30, 2015 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $1,755 $293,223 $294,978 $136 $2,639 $2,775 Residential mortgage loans - junior liens 77 21,425 21,502 0 210 210 Home equity lines of credit 0 39,140 39,140 0 344 344 1-4 Family residential construction 0 19,651 19,651 0 257 257 Total residential mortgage 1,832 373,439 375,271 136 3,450 3,586 Commercial: Commercial loans secured by real estate 6,145 128,918 135,063 80 1,612 1,692 Commercial and industrial 332 61,095 61,427 75 725 800 Political subdivisions 0 40,908 40,908 0 0 0 Commercial construction and land 1,840 5,986 7,826 211 85 296 Loans secured by farmland 1,474 6,091 7,565 98 57 155 Multi-family (5 or more) residential 0 8,561 8,561 0 80 80 Agricultural loans 21 4,266 4,287 0 40 40 Other commercial loans 0 12,809 12,809 0 120 120 Total commercial 9,812 268,634 278,446 464 2,719 3,183 Consumer 0 10,101 10,101 0 135 135 Unallocated 396 Total $11,644 $652,174 $663,818 $600 $6,304 $7,300 December 31, 2014 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 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 |
Impaired Financing Receivables [Table Text Block] | (In Thousands) June 30, 2015 December 31, 2014 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $651 $651 - $950 $950 - Residential mortgage loans - junior liens 77 77 - 17 17 - Commercial loans secured by real estate 7,409 5,823 - 8,062 6,521 - Commercial and industrial 257 257 - 513 513 - Commercial construction and land 25 25 - 124 124 - Loans secured by farmland 910 910 - 925 925 - Agricultural loans 21 21 - 25 25 - Total with no related allowance recorded 9,350 7,764 - 10,616 9,075 - With a related allowance recorded: Residential mortgage loans - first liens 1,104 1,104 136 715 715 358 Commercial loans secured by real estate 322 322 80 16 16 16 Commercial and industrial 75 75 75 150 150 82 Commercial construction and land 1,815 1,815 211 1,815 1,815 211 Loans secured by farmland 564 564 98 545 545 102 Agricultural loans 0 0 0 0 0 0 Total with a related allowance recorded 3,880 3,880 600 3,241 3,241 769 Total $13,230 $11,644 $600 $13,857 $12,316 $769 |
Schedule of Additional Information on Impaired Loans [Table Text Block] | Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) 3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 2015 2014 2015 2014 Residential mortgage: Residential mortgage loans - first lien $3,701 $4,527 $3,819 $4,493 $20 $24 $58 $46 Residential mortgage loans - junior lien 66 197 57 214 1 0 2 2 Total residential mortgage 3,767 4,724 3,876 4,707 21 24 60 48 Commercial: Commercial loans secured by real estate 6,286 7,261 6,437 7,589 90 156 203 267 Commercial and industrial 423 882 513 986 5 9 12 19 Commercial construction and land 41 408 58 519 0 2 0 4 Loans secured by farmland 1,447 1,274 1,468 1,280 26 18 52 33 Agricultural loans 46 45 23 46 2 1 2 2 Total commercial 8,243 9,870 8,499 10,420 123 186 269 325 Consumer 0 1 0 2 0 0 0 0 Total $12,010 $14,595 $12,375 $15,129 $144 $210 $329 $373 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In Thousands) June 30, 2015 December 31, 2014 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $1,706 $3,227 $1,989 $3,440 Residential mortgage loans - junior liens 14 50 82 50 Home equity lines of credit 58 20 49 22 Total residential mortgage 1,778 3,297 2,120 3,512 Commercial: Commercial loans secured by real estate 630 5,714 653 5,804 Commercial and industrial 0 257 5 379 Commercial construction and land 85 1,815 35 1,915 Loans secured by farmland 0 933 0 951 Agricultural loans 0 21 0 25 Total commercial 715 8,740 693 9,074 Consumer 36 23 30 24 Totals $2,529 $12,060 $2,843 $12,610 |
Past Due Financing Receivables [Table Text Block] | As of June 30, 2015 As of December 31, 2014 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 $288,923 $3,085 $2,970 $294,978 $282,766 $5,443 $3,673 $291,882 Residential mortgage loans - junior liens 21,134 312 56 21,502 20,853 190 123 21,166 Home equity lines of credit 38,888 194 58 39,140 36,300 258 71 36,629 1-4 Family residential construction 19,651 0 0 19,651 16,739 0 0 16,739 Total residential mortgage 368,596 3,591 3,084 375,271 356,658 5,891 3,867 366,416 Commercial: Commercial loans secured by real estate 133,590 338 1,135 135,063 143,713 883 1,282 145,878 Commercial and industrial 61,253 153 21 61,427 49,994 43 120 50,157 Political subdivisions 40,908 0 0 40,908 17,534 0 0 17,534 Commercial construction and land 5,896 30 1,900 7,826 4,897 91 1,950 6,938 Loans secured by farmland 6,704 23 838 7,565 6,811 254 851 7,916 Multi-family (5 or more) residential 8,561 0 0 8,561 8,720 197 0 8,917 Agricultural loans 3,958 308 21 4,287 3,105 91 25 3,221 Other commercial loans 12,809 0 0 12,809 13,334 0 0 13,334 Total commercial 273,679 852 3,915 278,446 248,108 1,559 4,228 253,895 Consumer 10,036 29 36 10,101 10,164 40 30 10,234 Totals $652,311 $4,472 $7,035 $663,818 $614,930 $7,490 $8,125 $630,545 |
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 June 30, 2015 Nonaccrual Totals $6,885 $669 $4,506 $12,060 December 31, 2014 Nonaccrual Totals $6,959 $369 $5,282 $12,610 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total June 30, 2015 Totals $1,013 $81 $25 $5,216 $6,335 December 31, 2014 Totals $1,725 $82 $0 $5,388 $7,195 |
Schedule of Troubled Debt Restructurings With Subsequent Default [Table Text Block] | Number of Recorded Contracts Investment Three Months Ended June 30, 2014 (Balances in Thousands) Residential mortgage, 1 $83 Residential mortgage loans - junior liens 1 62 Commercial, Commercial loans secured by real estate 1 429 Agricultural 1 13 Number of Recorded Contracts Investment Six Months Ended June 30, 2015 (Balances in Thousands) Residential mortgage, Residential mortgage loans - first liens 2 $115 Commercial: Commercial loans secured by real estate 1 407 Commercial construction and land 1 25 Number of Recorded Contracts Investment Six Months Ended June 30, 2014 (Balances in Thousands) Residential mortgage: 2 $223 Residential mortgage loans - junior liens 1 62 Commercial, Commercial loans secured by real estate 1 429 Loans secured by farmland 4 490 Agricultural 1 13 |
Troubled Debt Restructuring [Member] | |
Note 7 - Loans (Tables) [Line Items] | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2014 Pre- Post- Modification Modification Number Outstanding Outstanding Of Recorded Recorded Contracts Investment Investment Residential mortgage: Residential mortgage loans - first liens 2 $67 $67 Commercial: Commercial loans secured by real estate 5 6,679 5,193 Commercial and industrial 1 80 80 Six Months Ended June 30, 2015 Pre- Post- (Balances in Thousands) Modification Modification Number Outstanding Outstanding of Recorded Recorded Contracts Investment Investment Residential mortgage: Residential mortgage loans - first liens 1 $56 $56 Residential mortgage loans - junior liens 1 32 32 Consumer 1 30 30 Six Months Ended June 30, 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: 5 6,679 5,193 Commercial and industrial 1 80 80 |
Note 8 - Borrowed Funds (Tables
Note 8 - Borrowed Funds (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | (In Thousands) June 30, Dec. 31 2015 2014 FHLB-Pittsburgh borrowings $15,000 $0 Customer repurchase agreements 4,806 5,537 Total short-term borrowings $19,806 $5,537 |
Schedule of Long-term Debt Instruments [Table Text Block] | (In Thousands) June 30, Dec. 31 2015 2014 FHLB-Pittsburgh borrowings $11,916 $12,060 Repurchase agreements 51,000 61,000 Total long-term borrowings $62,916 $73,060 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In Thousands) June 30, Dec. 31 2015 2014 Loan maturing in 2016 with a rate of 6.86% $83 $107 Loan maturing in 2017 with a rate of 6.83% 13 16 Loan maturing in 2017 with a rate of 3.81% 10,000 10,000 Loan maturing in 2020 with a rate of 4.79% 905 987 Loan maturing in 2025 with a rate of 4.91% 915 950 Total long-term FHLB-Pittsburgh borrowings $11,916 $12,060 (In Thousands) June 30, Dec. 31 2015 2014 Agreement maturing in 2017 with a rate of 3.595% $27,000 $27,000 Agreement maturing in 2017 with a rate of 4.265% 24,000 34,000 Total long-term repurchase agreements $51,000 $61,000 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | (In Thousands) June 30, December 31, 2015 2014 Mortgage-backed securities $ 21,888 $ 24,114 Collateralized mortgage obligations, Issued by U.S. Government agencies 42,324 46,868 Total $ 64,212 $ 70,982 |
Note 9 - Defined Benefit Plans
Note 9 - Defined Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | (In Thousands) Pension Postretirement Six Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $0 $0 $19 $17 Interest cost 18 37 28 29 Expected return on plan assets (23 ) (44 ) 0 0 Amortization of prior service cost 0 0 (15 ) (16 ) Recognized net actuarial loss 7 8 0 0 Net periodic benefit cost $2 $1 $32 $30 (In Thousands) Pension Postretirement Three Months Ended Three Months Ended June 30, June 30, 2015 2014 2015 2014 Service cost $0 $0 $9 $8 Interest cost 9 19 15 15 Expected return on plan assets (12 ) (22 ) 0 0 Amortization of prior service cost 0 0 (8 ) (8 ) Recognized net actuarial loss 3 4 0 0 Net periodic benefit cost $0 $1 $16 $15 |
Note 10 - Stock-based Compens30
Note 10 - Stock-based Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2014 Fair value of each option granted $5.50 Volatility 39% Expected option lives ( 8 Risk-free interest rate 2.85% Dividend yield 4.33% |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | (In Thousands) 3 Months Ended 6 Months Ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 Stock options $0 $59 $0 $154 Restricted stock 157 113 307 230 Total $157 $172 $307 $384 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | June 30, December 31, (In Thousands) 2015 2014 Deferred tax assets: Net realized losses on securities $144 $144 Allowance for loan losses 2,555 2,568 Credit for alternative minimum tax paid 74 537 Other deferred tax assets 2,490 2,595 Total deferred tax assets 5,263 5,844 Deferred tax liabilities: Unrealized holding gains on securities 2,195 2,844 Defined benefit plans - ASC 835 5 43 Bank premises and equipment 991 1,134 Core deposit intangibles 14 18 Other deferred tax liabilities 127 137 Total deferred tax liabilities 3,332 4,176 Deferred tax asset, net $1,931 $1,668 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2015 2014 2015 2014 Income before income tax provision $5,809 $5,563 $10,853 $11,250 Income tax provision 1,452 1,400 2,681 2,799 Effective tax rate 25.00 % 25.17 % 24.70 % 24.88 % |
Note 2 - Per Share Data (Detail
Note 2 - Per Share Data (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Stock Option [Member] | ||||
Note 2 - Per Share Data (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 47,974 | 200,672 | 75,539 | 169,448 |
Note 2 - Per Share Data (Deta33
Note 2 - Per Share Data (Details) - Net Income Per Share - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net Income Per Share [Abstract] | ||||
Net income (in Dollars) | $ 4,357,000 | $ 4,163,000 | $ 8,172,000 | $ 8,451,000 |
Weighted average common shares - basic | 12,199,996 | 12,441,679 | 12,233,964 | 12,429,717 |
Earnings per share – basic (in Dollars per share) | $ 0.36 | $ 0.33 | $ 0.67 | $ 0.68 |
Dilutive effect of potential common stock arising from stock options: | ||||
Exercise of outstanding stock options | 205,024 | 174,840 | 218,115 | 239,291 |
Hypothetical share repurchase | (182,494) | (157,135) | (196,407) | (217,549) |
Weighted average common shares - diluted | 12,222,526 | 12,459,384 | 12,255,672 | 12,451,459 |
Earnings per share – diluted (in Dollars per share) | $ 0.36 | $ 0.33 | $ 0.67 | $ 0.68 |
Note 2 - Per Share Data (Deta34
Note 2 - Per Share Data (Details) - Net Income Per Share (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net Income Per Share [Abstract] | ||||
Hypothetical share repurchase | $ 20.15 | $ 18.81 | $ 19.97 | $ 19.25 |
Note 3 - Comprehensive Income35
Note 3 - Comprehensive Income (Details) - Components of Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Unrealized losses on available-for-sale securities: | ||||
Unrealized holding gains on available-for-sale securities, before tax amount | $ (4,572) | $ 4,523 | $ (847) | $ 9,857 |
Unrealized holding gains on available-for-sale securities, income tax effect | 1,601 | (1,582) | 297 | (3,450) |
Unrealized holding gains on available-for-sale securities, net of tax amount | (2,971) | 2,941 | (550) | 6,407 |
Reclassification adjustment for (gains) realized in income, before tax amount | (932) | (103) | (1,006) | (134) |
Reclassification adjustment for (gains) realized in income, income tax effect | 326 | 36 | 352 | 47 |
Reclassification adjustment for (gains) realized in income, net of tax amount | (606) | (67) | (654) | (87) |
Other comprehensive gain on available-for-sale securities, before tax amount | (5,504) | 4,420 | (1,853) | 9,723 |
Other comprehensive gain on available-for-sale securities, income tax effect | 1,927 | (1,546) | 649 | (3,403) |
Other comprehensive gain on available-for-sale securities, net of tax amount | (3,577) | 2,874 | (1,204) | 6,320 |
Unfunded pension and postretirement obligations: | ||||
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, before tax amount | 0 | 3 | (100) | 144 |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, income tax effect | 0 | (1) | 35 | (50) |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, net of tax amount | 0 | 2 | (65) | 94 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, before tax amount | (5) | (4) | (8) | (8) |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, income tax effect | 2 | 2 | 3 | 3 |
Amortization of net transition obligation, prior service cost and net actuarial loss included in net periodic benefit cost, net of tax amount | (3) | (2) | (5) | (5) |
Other comprehensive (loss) gain on unfunded retirement obligations, before tax amount | (5) | (1) | (108) | 136 |
Other comprehensive gain on unfunded retirement obligations, income tax effect | 2 | 1 | 38 | (47) |
Other comprehensive gain on unfunded retirement obligations, net of tax amount | (3) | 0 | (70) | 89 |
Total other comprehensive gain, before tax amount | (5,509) | 4,419 | (1,961) | 9,859 |
Total other comprehensive gain, income tax effect | 1,929 | (1,545) | 687 | (3,450) |
Net other comprehensive income (loss) | $ (3,580) | $ 2,874 | $ (1,274) | $ 6,409 |
Note 3 - Comprehensive Income36
Note 3 - Comprehensive Income (Details) - Changes in the Components of Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning of period | $ 5,360 | |||
Other comprehensive income (loss) | $ (3,580) | $ 2,874 | (1,274) | $ 6,409 |
Balance, end of period | 4,086 | 4,086 | ||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning of period | 7,654 | 2,442 | 5,281 | (1,004) |
Other comprehensive income (loss) before reclassifications | (2,971) | 2,941 | (550) | 6,407 |
Amounts reclassified from accumulated other comprehensive income | (606) | (67) | (654) | (87) |
Other comprehensive income (loss) | (3,577) | 2,874 | (1,204) | 6,320 |
Balance, end of period | 4,077 | 5,316 | 4,077 | 5,316 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning of period | 12 | 100 | 79 | 11 |
Other comprehensive income (loss) before reclassifications | 0 | 2 | (65) | 94 |
Amounts reclassified from accumulated other comprehensive income | (3) | (2) | (5) | (5) |
Other comprehensive income (loss) | (3) | 0 | (70) | 89 |
Balance, end of period | 9 | 100 | 9 | 100 |
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning of period | 7,666 | 2,542 | 5,360 | (993) |
Other comprehensive income (loss) before reclassifications | (2,971) | 2,943 | (615) | 6,501 |
Amounts reclassified from accumulated other comprehensive income | (609) | (69) | (659) | (92) |
Other comprehensive income (loss) | (3,580) | 2,874 | (1,274) | 6,409 |
Balance, end of period | $ 4,086 | $ 5,416 | $ 4,086 | $ 5,416 |
Note 3 - Comprehensive Income37
Note 3 - Comprehensive Income (Details) - Amounts Reclassified Out of Each Component of OCI - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Unrealized gains and losses on available-for-sale securities | $ (932,000) | $ (103,000) | $ (1,006,000) | $ (134,000) |
Income tax provision | 1,452,000 | 1,400,000 | 2,681,000 | 2,799,000 |
Net income | 4,357,000 | 4,163,000 | 8,172,000 | 8,451,000 |
Amortization of defined benefit pension and postretirement items: | ||||
Total before tax | 5,809,000 | 5,563,000 | 10,853,000 | 11,250,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income | (609,000) | (69,000) | (659,000) | (92,000) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Unrealized gains and losses on available-for-sale securities | (932,000) | (103,000) | (1,006,000) | (134,000) |
Income tax provision | 326,000 | 36,000 | 352,000 | 47,000 |
Net income | (606,000) | (67,000) | (654,000) | (87,000) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax provision | 2,000 | 2,000 | 3,000 | 3,000 |
Net income | (3,000) | (2,000) | (5,000) | (5,000) |
Amortization of defined benefit pension and postretirement items: | ||||
Prior service cost | (8,000) | (8,000) | (15,000) | (16,000) |
Actuarial loss | 3,000 | 4,000 | 7,000 | 8,000 |
Total before tax | $ (5,000) | $ (4,000) | $ (8,000) | $ (8,000) |
Note 4 - Cash and Due from Ba38
Note 4 - Cash and Due from Banks (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and Cash Equivalents [Abstract] | ||
Restricted Cash and Cash Equivalents, Current | $ 15,821,000 | $ 16,853,000 |
Note 4 - Cash and Due from Ba39
Note 4 - Cash and Due from Banks (Details) - Cash and Due From Banks - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and Due from Banks [Abstract] | ||
Cash and cash equivalents | $ 30,977 | $ 31,619 |
Certificates of deposit | 4,428 | 4,428 |
Total cash and due from banks | $ 35,405 | $ 36,047 |
Note 5 - Fair Value Measureme40
Note 5 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Assets Measured at Fair Value - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | $ 497,111 | $ 516,807 |
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,880 | 3,241 |
Valuation allowance | (600) | (769) |
Impaired loans, net | 3,880 | 3,241 |
US Government Agencies Debt Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,871 | 26,676 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 119,749 | 124,839 |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 35,135 | 33,878 |
Collateralized Mortgage Backed Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 76,790 | 83,903 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 230,794 | 238,823 |
Collateralized Debt Obligations [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34 | 34 |
Debt Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 489,373 | 508,153 |
Equity Securities [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 7,738 | 8,654 |
Estimate of Fair Value Measurement [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 497,111 | 516,807 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 497,111 | 516,807 |
Obligations of states and political subdivisions: | ||
Servicing rights | 1,209 | 1,281 |
Total recurring fair value measurements | 498,320 | 518,088 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,880 | 3,241 |
Valuation allowance | (600) | (769) |
Impaired loans, net | 3,280 | 2,472 |
Foreclosed assets held for sale | 1,223 | 1,189 |
Total nonrecurring fair value measurements | 4,503 | 3,661 |
Estimate of Fair Value Measurement [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,871 | 26,676 |
Estimate of Fair Value Measurement [Member] | Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 119,749 | 124,839 |
Estimate of Fair Value Measurement [Member] | Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 35,135 | 33,878 |
Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 76,790 | 83,903 |
Estimate of Fair Value Measurement [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 230,794 | 238,823 |
Estimate of Fair Value Measurement [Member] | Collateralized Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34 | 34 |
Estimate of Fair Value Measurement [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 489,373 | 508,153 |
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 7,738 | 8,654 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 7,738 | 8,654 |
Obligations of states and political subdivisions: | ||
Servicing rights | 0 | 0 |
Total recurring fair value measurements | 7,738 | 8,654 |
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 1 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 7,738 | 8,654 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 489,373 | 508,153 |
Obligations of states and political subdivisions: | ||
Servicing rights | 0 | 0 |
Total recurring fair value measurements | 489,373 | 508,153 |
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] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 26,871 | 26,676 |
Fair Value, Inputs, Level 2 [Member] | Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 119,749 | 124,839 |
Fair Value, Inputs, Level 2 [Member] | Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 35,135 | 33,878 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 76,790 | 83,903 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 230,794 | 238,823 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 34 | 34 |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 489,373 | 508,153 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
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: | ||
Servicing rights | 1,209 | 1,281 |
Total recurring fair value measurements | 1,209 | 1,281 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Nonrecurring fair value measurements | ||
Impaired loans with a valuation allowance | 3,880 | 3,241 |
Valuation allowance | (600) | (769) |
Impaired loans, net | 3,280 | 2,472 |
Foreclosed assets held for sale | 1,223 | 1,189 |
Total nonrecurring fair value measurements | 4,503 | 3,661 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of States and Political Subdivisions, Tax-exempt [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of States and Political Subdivisions, Taxable [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
AVAILABLE-FOR-SALE SECURITIES: | ||
Available-for-sale securities | $ 0 | $ 0 |
Note 5 - Fair Value Measureme41
Note 5 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Impaired loans: | ||
Impaired loans | $ 3,880,000 | $ 3,241,000 |
Valuation allowance | 600,000 | 769,000 |
Residential Portfolio Segment [Member] | ||
Foreclosed assets held for sale - real estate: | ||
Foreclosed assets held for sale | 487,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Impaired loans: | ||
Impaired loans | 75,000 | 150,000 |
Valuation allowance | 75,000 | 82,000 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Impaired loans: | ||
Impaired loans | 564,000 | 545,000 |
Valuation allowance | 98,000 | 102,000 |
Servicing Rights Asset [Member] | Income Approach Valuation Technique [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 1,209,000 | $ 1,281,000 |
Discount rate | 10.00% | 12.00% |
Weighted-average PSA | 173.00% | 156.00% |
Servicing fees of loan balances | 0.25% | 0.25% |
Servicing fees of payments are late | 4.00% | 4.00% |
Late fees assessed | 5.00% | 5.00% |
Miscellaneous fees per account per month | $ 1.94 | $ 1.94 |
Monthly servicing cost per account | 6 | 6 |
Additional monthly servicing cost per loan on loans more than 30 days delinquent | $ 24 | $ 24 |
Of loans more than 30 days delinquent | 1.50% | 1.50% |
Annual increase in servicing costs | 3.00% | 3.00% |
Impaired loans: | ||
Discount rate | 10.00% | 12.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 10.00% | 12.00% |
Impaired Loans [Member] | ||
Impaired loans: | ||
Fair value | $ 3,280,000 | $ 2,472,000 |
Impaired loans | 3,880,000 | 3,241,000 |
Valuation allowance | 600,000 | 769,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 3,280,000 | 2,472,000 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Real Estate Loan [Member] | ||
Impaired loans: | ||
Fair value | 242,000 | 0 |
Impaired loans | 322,000 | 16,000 |
Valuation allowance | 80,000 | 16,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 242,000 | 0 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | ||
Impaired loans: | ||
Fair value | 0 | 68,000 |
Impaired loans | 75,000 | 150,000 |
Valuation allowance | 75,000 | 82,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 0 | 68,000 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Construction Loans [Member] | ||
Impaired loans: | ||
Fair value | 1,604,000 | 1,604,000 |
Impaired loans | 1,815,000 | 1,815,000 |
Valuation allowance | 211,000 | 211,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 1,604,000 | 1,604,000 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Loans Secured by Farmland [Member] | ||
Impaired loans: | ||
Fair value | 466,000 | 443,000 |
Impaired loans | 564,000 | 545,000 |
Valuation allowance | 98,000 | 102,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 466,000 | 443,000 |
Foreclosed Assets Held-for-Sale [Member] | ||
Impaired loans: | ||
Fair value | 1,223,000 | 1,189,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 1,223,000 | 1,189,000 |
Foreclosed assets held for sale | 1,223,000 | 1,189,000 |
Valuation allowance | 0 | 0 |
Foreclosed Assets Held-for-Sale [Member] | Market Approach Valuation Technique [Member] | Land [Member] | ||
Impaired loans: | ||
Fair value | 736,000 | 724,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 736,000 | 724,000 |
Foreclosed assets held for sale | 736,000 | 724,000 |
Valuation allowance | 0 | 0 |
Foreclosed Assets Held-for-Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Impaired loans: | ||
Fair value | 487,000 | 306,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | 487,000 | 306,000 |
Foreclosed assets held for sale | 487,000 | 306,000 |
Valuation allowance | 0 | 0 |
Foreclosed Assets Held-for-Sale [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Impaired loans: | ||
Fair value | 159,000 | |
Foreclosed assets held for sale - real estate: | ||
Fair value | 159,000 | |
Foreclosed assets held for sale | 159,000 | |
Valuation allowance | 0 | |
Senior Lien [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Impaired loans: | ||
Impaired loans | 1,104,000 | 715,000 |
Valuation allowance | 136,000 | 358,000 |
Senior Lien [Member] | Impaired Loans [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Real Estate Loan [Member] | ||
Impaired loans: | ||
Fair value | 968,000 | 357,000 |
Impaired loans | 1,104,000 | 715,000 |
Valuation allowance | 136,000 | 358,000 |
Foreclosed assets held for sale - real estate: | ||
Fair value | $ 968,000 | $ 357,000 |
Weighted Average [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Real Estate Loan [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 40.00% | 42.00% |
Impaired loans: | ||
Discount rate | 40.00% | 42.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 40.00% | 42.00% |
Weighted Average [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 45.00% | 21.00% |
Impaired loans: | ||
Discount rate | 45.00% | 21.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 45.00% | 21.00% |
Weighted Average [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Construction Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 30.00% | 30.00% |
Impaired loans: | ||
Discount rate | 30.00% | 30.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 30.00% | 30.00% |
Weighted Average [Member] | Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Loans Secured by Farmland [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 40.00% | 40.00% |
Impaired loans: | ||
Discount rate | 40.00% | 40.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 40.00% | 40.00% |
Weighted Average [Member] | Foreclosed Assets Held-for-Sale [Member] | Market Approach Valuation Technique [Member] | Land [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 26.00% | 29.00% |
Impaired loans: | ||
Discount rate | 26.00% | 29.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 26.00% | 29.00% |
Weighted Average [Member] | Foreclosed Assets Held-for-Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 27.00% | 42.00% |
Impaired loans: | ||
Discount rate | 27.00% | 42.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 27.00% | 42.00% |
Weighted Average [Member] | Foreclosed Assets Held-for-Sale [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 23.00% | |
Impaired loans: | ||
Discount rate | 23.00% | |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 23.00% | |
Weighted Average [Member] | Senior Lien [Member] | Impaired Loans [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Real Estate Loan [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 34.00% | 36.00% |
Impaired loans: | ||
Discount rate | 34.00% | 36.00% |
Foreclosed assets held for sale - real estate: | ||
Discount rate | 34.00% | 36.00% |
Note 5 - Fair Value Measureme42
Note 5 - 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 - Fair Value, Inputs, Level 3 [Member] - Servicing Rights Asset [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Servicing rights balance, beginning of period | $ 1,195 | $ 1,268 | $ 1,281 | $ 1,123 |
Issuances of servicing rights | 47 | 66 | 78 | 106 |
Unrealized losses included in earnings | (33) | (53) | (150) | 52 |
Servicing rights balance, end of period | $ 1,209 | $ 1,281 | $ 1,209 | $ 1,281 |
Note 5 - Fair Value Measureme43
Note 5 - Fair Value Measurements and Fair Values of Financial Instruments (Details) - Estimated Fair Values, and Related Carrying Amounts, of the Financial Instruments - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial assets: | ||||
Cash and cash equivalents | $ 30,977 | $ 31,619 | $ 54,400 | $ 38,591 |
Certificates of deposit | 4,428 | 4,428 | ||
Available-for-sale securities | 497,111 | 516,807 | ||
Loans held for sale | 192 | 0 | ||
Loans, net | 656,518 | 623,209 | ||
Accrued interest receivable | 3,875 | 3,908 | ||
Financial liabilities: | ||||
Short-term borrowings | 19,806 | 5,537 | ||
Long-term borrowings | 62,916 | 73,060 | ||
Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Available-for-sale securities | 497,111 | 516,807 | ||
Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Available-for-sale securities | 497,111 | 516,807 | ||
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 30,977 | 31,619 | ||
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 30,977 | 31,619 | ||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Certificates of deposit | 4,428 | 4,428 | ||
Restricted equity securities (included in Other Assets) | 2,502 | 1,584 | ||
Loans held for sale | 192 | 0 | ||
Accrued interest receivable | 3,875 | 3,908 | ||
Financial liabilities: | ||||
Deposits with no stated maturity | 738,317 | 729,052 | ||
Time deposits | 240,132 | 238,937 | ||
Short-term borrowings | 19,806 | 5,537 | ||
Long-term borrowings | 62,916 | 73,060 | ||
Accrued interest payable | 89 | 104 | ||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Certificates of deposit | 4,443 | 4,443 | ||
Restricted equity securities (included in Other Assets) | 2,502 | 1,584 | ||
Loans held for sale | 192 | 0 | ||
Accrued interest receivable | 3,875 | 3,908 | ||
Financial liabilities: | ||||
Deposits with no stated maturity | 738,317 | 729,052 | ||
Time deposits | 241,030 | 239,712 | ||
Short-term borrowings | 19,753 | 5,473 | ||
Long-term borrowings | 68,017 | 78,866 | ||
Accrued interest payable | 89 | 104 | ||
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 656,518 | 623,209 | ||
Servicing rights | 1,209 | 1,281 | ||
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 653,715 | 629,267 | ||
Servicing rights | $ 1,209 | $ 1,281 |
Note 6 - Securities (Details)
Note 6 - Securities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Note 6 - Securities (Details) [Line Items] | |||||
Available-for-sale Securities Pledged as Collateral | $ 363,533,000 | $ 363,533,000 | $ 369,945,000 | ||
Available-for-sale Securities, Gross Realized Gains | 932,000 | $ 140,000 | 1,006,000 | $ 342,000 | |
Equity Securities [Member] | |||||
Note 6 - Securities (Details) [Line Items] | |||||
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax | 10,000 | 10,000 | |||
Available-for-sale Securities, Gross Realized Gains | 476,000 | $ 74,000 | 476,000 | $ 74,000 | |
Federal Home Loan Bank of Pittsburgh [Member] | Other Assets [Member] | |||||
Note 6 - Securities (Details) [Line Items] | |||||
Federal Home Loan Bank Stock | $ 2,372,000 | $ 2,372,000 | $ 1,454,000 |
Note 6 - Securities (Details) -
Note 6 - Securities (Details) - Available-for-sale Securities - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | $ 490,839 | $ 508,682 |
Available-for-sale securities, gross unrealized holding gains | 9,025 | 11,377 |
Available-for-sale securities, gross unrealized holding losses | (2,753) | (3,252) |
Available-for-sale securities, fair value | 497,111 | 516,807 |
US Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 27,189 | 27,221 |
Available-for-sale securities, gross unrealized holding gains | 39 | 38 |
Available-for-sale securities, gross unrealized holding losses | (357) | (583) |
Available-for-sale securities, fair value | 26,871 | 26,676 |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 115,908 | 120,086 |
Available-for-sale securities, gross unrealized holding gains | 4,147 | 5,134 |
Available-for-sale securities, gross unrealized holding losses | (306) | (381) |
Available-for-sale securities, fair value | 119,749 | 124,839 |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 34,872 | 33,637 |
Available-for-sale securities, gross unrealized holding gains | 394 | 415 |
Available-for-sale securities, gross unrealized holding losses | (131) | (174) |
Available-for-sale securities, fair value | 35,135 | 33,878 |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 76,323 | 82,479 |
Available-for-sale securities, gross unrealized holding gains | 754 | 1,493 |
Available-for-sale securities, gross unrealized holding losses | (287) | (69) |
Available-for-sale securities, fair value | 76,790 | 83,903 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 231,148 | 239,620 |
Available-for-sale securities, gross unrealized holding gains | 1,308 | 1,239 |
Available-for-sale securities, gross unrealized holding losses | (1,662) | (2,036) |
Available-for-sale securities, fair value | 230,794 | 238,823 |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 34 | 34 |
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 | 34 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 485,474 | 503,077 |
Available-for-sale securities, gross unrealized holding gains | 6,642 | 8,319 |
Available-for-sale securities, gross unrealized holding losses | (2,743) | (3,243) |
Available-for-sale securities, fair value | 489,373 | 508,153 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 5,365 | 5,605 |
Available-for-sale securities, gross unrealized holding gains | 2,383 | 3,058 |
Available-for-sale securities, gross unrealized holding losses | (10) | (9) |
Available-for-sale securities, fair value | $ 7,738 | $ 8,654 |
Note 6 - Securities (Details)46
Note 6 - Securities (Details) - Available-for-sale Securities With Unrealized Loss Positions - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 6 - 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 | $ 126,201 | $ 75,084 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (970) | (716) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 79,344 | 105,227 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (1,783) | (2,536) |
Available-for-sale securities with unrealized loss positions, fair value | 205,545 | 180,311 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (2,753) | (3,252) |
US Government Agencies Debt Securities [Member] | ||
Note 6 - 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 | 10,033 | 0 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (62) | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 14,180 | 24,020 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (295) | (583) |
Available-for-sale securities with unrealized loss positions, fair value | 24,213 | 24,020 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (357) | (583) |
Obligations of States and Political Subdivisions, Tax-exempt [Member] | ||
Note 6 - 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 | 24,310 | 11,898 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (283) | (289) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 744 | 6,991 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (23) | (92) |
Available-for-sale securities with unrealized loss positions, fair value | 25,054 | 18,889 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (306) | (381) |
Obligations of States and Political Subdivisions, Taxable [Member] | ||
Note 6 - 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 | 9,581 | 4,240 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (61) | (22) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 4,777 | 9,159 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (70) | (152) |
Available-for-sale securities with unrealized loss positions, fair value | 14,358 | 13,399 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (131) | (174) |
Collateralized Mortgage Backed Securities [Member] | ||
Note 6 - 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 | 20,022 | 0 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (213) | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 3,889 | 4,160 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (74) | (69) |
Available-for-sale securities with unrealized loss positions, fair value | 23,911 | 4,160 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (287) | (69) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 6 - 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 | 62,196 | 58,812 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (341) | (396) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 55,754 | 60,897 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (1,321) | (1,640) |
Available-for-sale securities with unrealized loss positions, fair value | 117,950 | 119,709 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (1,662) | (2,036) |
Debt Securities [Member] | ||
Note 6 - 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 | 126,142 | 74,950 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (960) | (707) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 79,344 | 105,227 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (1,783) | (2,536) |
Available-for-sale securities with unrealized loss positions, fair value | 205,486 | 180,177 |
Available-for-sale securities with unrealized loss positions, unrealized losses | (2,743) | (3,243) |
Equity Securities [Member] | ||
Note 6 - 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 | 59 | 134 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (10) | (9) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 0 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | 0 | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 59 | 134 |
Available-for-sale securities with unrealized loss positions, unrealized losses | $ (10) | $ (9) |
Note 6 - Securities (Details)47
Note 6 - Securities (Details) - Gross Realized Gains and Losses from Available-for-sale Securities - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Gross Realized Gains and Losses from Available-for-sale Securities [Abstract] | ||||
Gross realized gains from sales | $ 932 | $ 140 | $ 1,006 | $ 342 |
Gross realized losses from sales | 0 | (37) | 0 | (208) |
Net realized gains | $ 932 | $ 103 | $ 1,006 | $ 134 |
Note 6 - Securities (Details)48
Note 6 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity $ in Thousands | Jun. 30, 2015USD ($) |
Note 6 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Due in one year or less | $ 10,599 |
Due in one year or less | 10,741 |
Due from one year through five years | 62,421 |
Due from one year through five years | 63,102 |
Due from five years through ten years | 60,873 |
Due from five years through ten years | 61,305 |
Due after ten years | 44,110 |
Due after ten years | 46,641 |
Subtotal | 178,003 |
Subtotal | 181,789 |
Total | 485,474 |
Total | 489,373 |
Collateralized Mortgage Obligations [Member] | |
Note 6 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Available-for-sale debt securities, amortized cost | 76,323 |
Available-for-sale debt securities, fair value | 76,790 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |
Note 6 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity [Line Items] | |
Available-for-sale debt securities, amortized cost | 231,148 |
Available-for-sale debt securities, fair value | $ 230,794 |
Note 7 - Loans (Details)
Note 7 - Loans (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jul. 31, 2015 | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2013USD ($) | |
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | $ 7,300,000 | $ 7,267,000 | $ 8,343,000 | $ 7,300,000 | $ 7,267,000 | $ 7,336,000 | $ 7,134,000 | $ 8,663,000 | |
Financing Receivable, Modifications, Number of Contracts | 0 | ||||||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 1,486,000 | ||||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||||||
Mortgage Loans in Process of Foreclosure, Amount | $ 1,388,000 | 1,388,000 | |||||||
Unfunded Loan Commitment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | ||||||
Commercial Portfolio Segment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 3,183,000 | 3,049,000 | 4,254,000 | 3,183,000 | 3,049,000 | 3,143,000 | 3,098,000 | 4,367,000 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 1,692,000 | $ 1,896,000 | 3,081,000 | $ 1,692,000 | $ 1,896,000 | 1,758,000 | 1,736,000 | 3,123,000 | |
Financing Receivable, Modifications, Number of Contracts | 5 | 5 | |||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | 1 | ||||||
Residential Portfolio Segment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 3,586,000 | $ 3,696,000 | 3,567,000 | $ 3,586,000 | $ 3,696,000 | 3,653,000 | 3,503,000 | 3,705,000 | |
Real Estate Acquired Through Foreclosure | 487,000 | $ 487,000 | |||||||
Reduction in Payment [Member] | Commercial Portfolio Segment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Modifications, Number of Contracts | 6 | ||||||||
Financing Receivable, Modification, Reduced Payment Period | 15 months | ||||||||
Financing Receivable, Modifications, Recorded Investment | $ 5,273,000 | 5,273,000 | |||||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 0 | $ 1,503,000 | 0 | ||||||
Reduction in Payment [Member] | Commercial Portfolio Segment [Member] | Subsequent Event [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Modification, Reduced Payment Period | 12 months | ||||||||
Reduction in Payment Amount and Interest Rate [Member] | Commercial Portfolio Segment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 1,552,000 | ||||||||
Reduction in Payment Amount and Interest Rate [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||||||
Secured by Real Estate Member] | Commercial Portfolio Segment [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Concentration Risk, Percentage | 57.00% | ||||||||
Senior Lien [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Allowance for Credit Losses | 2,775,000 | $ 2,966,000 | $ 2,863,000 | $ 2,775,000 | $ 2,966,000 | $ 2,941,000 | $ 2,774,000 | $ 2,974,000 | |
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | 3 | ||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 2 | 2 | ||||||
Senior Lien [Member] | Reduction in Payment [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||||||
Senior Lien [Member] | Interest Only Period [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||||||
Loans Receivable [Member] | Credit Availability Concentration Risk [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Concentration Risk, Percentage | 0.00% | 0.00% | |||||||
Subsequent Default [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Minimum [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Individually Evaluated for Impairment, Threshold With Extension of Credit | 200,000 | 200,000 | |||||||
Financing Receivable, Individually Evaluated for Impairment, Estimated Loss Trigger | 100,000 | 100,000 | |||||||
Maximum [Member] | |||||||||
Note 7 - Loans (Details) [Line Items] | |||||||||
Financing Receivable, Individually Evaluated for Impairment, Threshold With Estimated Loss | $ 200,000 | $ 200,000 |
Note 7 - Loans (Details) - Loan
Note 7 - Loans (Details) - Loans Receivable - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 663,818 | $ 630,545 |
Less: allowance for loan losses | (7,300) | (7,336) |
Loans, net | 656,518 | 623,209 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 375,271 | 366,416 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 39,140 | 36,629 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 19,651 | 16,739 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 294,978 | 291,882 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 21,502 | 21,166 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 278,446 | 253,895 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 135,063 | 145,878 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 7,826 | 6,938 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 61,427 | 50,157 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 40,908 | 17,534 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 7,565 | 7,916 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 8,561 | 8,917 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 4,287 | 3,221 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 12,809 | 13,334 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 10,101 | $ 10,234 |
Note 7 - Loans (Details) - Allo
Note 7 - Loans (Details) - Allowance for Loan Losses - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Allowance for Loan Losses: | ||||
Allowance for loan losses | $ 7,134 | $ 8,343 | $ 7,336 | $ 8,663 |
Allowance for loan losses, charge-offs | (77) | (1,546) | (299) | (1,820) |
Allowance for loan losses, recoveries | 22 | 24 | 39 | 289 |
Allowance for loan losses, provision (credit) | 221 | 446 | 224 | 135 |
Allowance for loan losses | 7,300 | 7,267 | 7,300 | 7,267 |
Residential Portfolio Segment [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 3,503 | 3,567 | 3,653 | 3,705 |
Allowance for loan losses, charge-offs | (58) | (40) | (137) | (59) |
Allowance for loan losses, recoveries | 0 | 1 | 1 | 1 |
Allowance for loan losses, provision (credit) | 141 | 168 | 69 | 49 |
Allowance for loan losses | 3,586 | 3,696 | 3,586 | 3,696 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 322 | 271 | 322 | 269 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 22 | 6 | 22 | 8 |
Allowance for loan losses | 344 | 277 | 344 | 277 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 207 | 153 | 214 | 168 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 50 | 20 | 43 | 5 |
Allowance for loan losses | 257 | 173 | 257 | 173 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 2,774 | 2,863 | 2,941 | 2,974 |
Allowance for loan losses, charge-offs | (58) | (40) | (137) | (59) |
Allowance for loan losses, recoveries | 0 | 1 | 1 | 1 |
Allowance for loan losses, provision (credit) | 59 | 142 | (30) | 50 |
Allowance for loan losses | 2,775 | 2,966 | 2,775 | 2,966 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 200 | 280 | 176 | 294 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 10 | 0 | 34 | (14) |
Allowance for loan losses | 210 | 280 | 210 | 280 |
Commercial Portfolio Segment [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 3,098 | 4,254 | 3,143 | 4,367 |
Allowance for loan losses, charge-offs | 0 | (1,486) | (125) | (1,715) |
Allowance for loan losses, recoveries | 3 | 12 | 4 | 263 |
Allowance for loan losses, provision (credit) | 82 | 269 | 161 | 134 |
Allowance for loan losses | 3,183 | 3,049 | 3,183 | 3,049 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 1,736 | 3,081 | 1,758 | 3,123 |
Allowance for loan losses, charge-offs | 0 | (1,486) | (115) | (1,521) |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 250 |
Allowance for loan losses, provision (credit) | (44) | 301 | 49 | 44 |
Allowance for loan losses | 1,692 | 1,896 | 1,692 | 1,896 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 286 | 247 | 283 | 267 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | (170) |
Allowance for loan losses, recoveries | 0 | 5 | 0 | 5 |
Allowance for loan losses, provision (credit) | 10 | (89) | 13 | 61 |
Allowance for loan losses | 296 | 163 | 296 | 163 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 684 | 555 | 688 | 591 |
Allowance for loan losses, charge-offs | 0 | 0 | (10) | (24) |
Allowance for loan losses, recoveries | 3 | 7 | 4 | 8 |
Allowance for loan losses, provision (credit) | 113 | 64 | 118 | 51 |
Allowance for loan losses | 800 | 626 | 800 | 626 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 0 | 0 | 0 | 0 |
Allowance for loan losses | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 159 | 98 | 165 | 115 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | (4) | (2) | (10) | (19) |
Allowance for loan losses | 155 | 96 | 155 | 96 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 81 | 105 | 87 | 103 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | (1) | (2) | (7) | 0 |
Allowance for loan losses | 80 | 103 | 80 | 103 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 29 | 30 | 31 | 30 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 11 | 0 | 9 | 0 |
Allowance for loan losses | 40 | 30 | 40 | 30 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 123 | 138 | 131 | 138 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | (3) | (3) | (11) | (3) |
Allowance for loan losses | 120 | 135 | 120 | 135 |
Consumer Portfolio Segment [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 139 | 128 | 145 | 193 |
Allowance for loan losses, charge-offs | (19) | (20) | (37) | (46) |
Allowance for loan losses, recoveries | 19 | 11 | 34 | 25 |
Allowance for loan losses, provision (credit) | (4) | 8 | (7) | (45) |
Allowance for loan losses | 135 | 127 | 135 | 127 |
Unallocated Financing Receivables [Member] | ||||
Allowance for Loan Losses: | ||||
Allowance for loan losses | 394 | 394 | 395 | 398 |
Allowance for loan losses, charge-offs | 0 | 0 | 0 | 0 |
Allowance for loan losses, recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, provision (credit) | 2 | 1 | 1 | (3) |
Allowance for loan losses | $ 396 | $ 395 | $ 396 | $ 395 |
Note 7 - Loans (Details) - Outs
Note 7 - Loans (Details) - Outstanding Loans by Risk Rating - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 663,818 | $ 630,545 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 627,234 | 591,547 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 14,396 | 12,788 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 21,974 | 25,989 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 214 | 221 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 375,271 | 366,416 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 364,059 | 353,250 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 2,001 | 1,672 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 9,138 | 11,416 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 73 | 78 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 39,140 | 36,629 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 37,328 | 35,935 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,407 | 294 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 405 | 400 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 19,651 | 16,739 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 19,632 | 16,719 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 19 | 20 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 294,978 | 291,882 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 286,168 | 280,094 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 485 | 1,246 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,252 | 10,464 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 73 | 78 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 21,502 | 21,166 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 20,931 | 20,502 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 90 | 112 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 481 | 552 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 278,446 | 253,895 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 253,260 | 228,202 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,373 | 11,094 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,672 | 14,456 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 141 | 143 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 135,063 | 145,878 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 121,059 | 133,204 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 5,139 | 2,775 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,865 | 9,899 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 7,826 | 6,938 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 5,744 | 4,650 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 164 | 266 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,918 | 2,022 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 61,427 | 50,157 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 54,601 | 41,751 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 6,291 | 7,246 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 417 | 1,042 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 118 | 118 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 40,908 | 17,534 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 40,908 | 17,534 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 7,565 | 7,916 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 5,668 | 5,990 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 423 | 433 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,451 | 1,468 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23 | 25 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,561 | 8,917 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,287 | 8,629 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 274 | 288 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 4,287 | 3,221 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 4,266 | 3,196 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 21 | 25 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,809 | 13,334 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,727 | 13,248 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 82 | 86 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 10,101 | 10,234 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 9,915 | 10,095 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 22 | 22 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 164 | 117 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 0 | $ 0 |
Note 7 - Loans (Details) - Lo53
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | $ 11,644 | $ 12,316 | ||||
Loans receivable: collectively evaluated | 652,174 | 618,229 | ||||
Loans receivable | 663,818 | 630,545 | ||||
Allowance for loan losses: individually evaluated | 600 | 769 | ||||
Allowance for loan losses: collectively evaulated | 6,304 | 6,172 | ||||
Allowance for loan losses | 7,300 | $ 7,134 | 7,336 | $ 7,267 | $ 8,343 | $ 8,663 |
Residential Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 1,832 | 1,682 | ||||
Loans receivable: collectively evaluated | 373,439 | 364,734 | ||||
Loans receivable | 375,271 | 366,416 | ||||
Allowance for loan losses: individually evaluated | 136 | 358 | ||||
Allowance for loan losses: collectively evaulated | 3,450 | 3,295 | ||||
Allowance for loan losses | 3,586 | 3,503 | 3,653 | 3,696 | 3,567 | 3,705 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 39,140 | 36,629 | ||||
Loans receivable | 39,140 | 36,629 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 344 | 322 | ||||
Allowance for loan losses | 344 | 322 | 322 | 277 | 271 | 269 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 19,651 | 16,739 | ||||
Loans receivable | 19,651 | 16,739 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 257 | 214 | ||||
Allowance for loan losses | 257 | 207 | 214 | 173 | 153 | 168 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 1,755 | 1,665 | ||||
Loans receivable: collectively evaluated | 293,223 | 290,217 | ||||
Loans receivable | 294,978 | 291,882 | ||||
Allowance for loan losses: individually evaluated | 136 | 358 | ||||
Allowance for loan losses: collectively evaulated | 2,639 | 2,583 | ||||
Allowance for loan losses | 2,775 | 2,774 | 2,941 | 2,966 | 2,863 | 2,974 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 77 | 17 | ||||
Loans receivable: collectively evaluated | 21,425 | 21,149 | ||||
Loans receivable | 21,502 | 21,166 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 210 | 176 | ||||
Allowance for loan losses | 210 | 200 | 176 | 280 | 280 | 294 |
Commercial Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 9,812 | 10,634 | ||||
Loans receivable: collectively evaluated | 268,634 | 243,261 | ||||
Loans receivable | 278,446 | 253,895 | ||||
Allowance for loan losses: individually evaluated | 464 | 411 | ||||
Allowance for loan losses: collectively evaulated | 2,719 | 2,732 | ||||
Allowance for loan losses | 3,183 | 3,098 | 3,143 | 3,049 | 4,254 | 4,367 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 6,145 | 6,537 | ||||
Loans receivable: collectively evaluated | 128,918 | 139,341 | ||||
Loans receivable | 135,063 | 145,878 | ||||
Allowance for loan losses: individually evaluated | 80 | 16 | ||||
Allowance for loan losses: collectively evaulated | 1,612 | 1,742 | ||||
Allowance for loan losses | 1,692 | 1,736 | 1,758 | 1,896 | 3,081 | 3,123 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 1,840 | 1,939 | ||||
Loans receivable: collectively evaluated | 5,986 | 4,999 | ||||
Loans receivable | 7,826 | 6,938 | ||||
Allowance for loan losses: individually evaluated | 211 | 211 | ||||
Allowance for loan losses: collectively evaulated | 85 | 72 | ||||
Allowance for loan losses | 296 | 286 | 283 | 163 | 247 | 267 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 332 | 663 | ||||
Loans receivable: collectively evaluated | 61,095 | 49,494 | ||||
Loans receivable | 61,427 | 50,157 | ||||
Allowance for loan losses: individually evaluated | 75 | 82 | ||||
Allowance for loan losses: collectively evaulated | 725 | 606 | ||||
Allowance for loan losses | 800 | 684 | 688 | 626 | 555 | 591 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 40,908 | 17,534 | ||||
Loans receivable | 40,908 | 17,534 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 0 | 0 | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 1,474 | 1,470 | ||||
Loans receivable: collectively evaluated | 6,091 | 6,446 | ||||
Loans receivable | 7,565 | 7,916 | ||||
Allowance for loan losses: individually evaluated | 98 | 102 | ||||
Allowance for loan losses: collectively evaulated | 57 | 63 | ||||
Allowance for loan losses | 155 | 159 | 165 | 96 | 98 | 115 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 8,561 | 8,917 | ||||
Loans receivable | 8,561 | 8,917 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 80 | 87 | ||||
Allowance for loan losses | 80 | 81 | 87 | 103 | 105 | 103 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 21 | 25 | ||||
Loans receivable: collectively evaluated | 4,266 | 3,196 | ||||
Loans receivable | 4,287 | 3,221 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 40 | 31 | ||||
Allowance for loan losses | 40 | 29 | 31 | 30 | 30 | 30 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 12,809 | 13,334 | ||||
Loans receivable | 12,809 | 13,334 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 120 | 131 | ||||
Allowance for loan losses | 120 | 123 | 131 | 135 | 138 | 138 |
Consumer Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Loans receivable: individually evaluated | 0 | 0 | ||||
Loans receivable: collectively evaluated | 10,101 | 10,234 | ||||
Loans receivable | 10,101 | 10,234 | ||||
Allowance for loan losses: individually evaluated | 0 | 0 | ||||
Allowance for loan losses: collectively evaulated | 135 | 145 | ||||
Allowance for loan losses | 135 | 139 | 145 | 127 | 128 | 193 |
Unallocated Financing Receivables [Member] | ||||||
Note 7 - Loans (Details) - Loan Balances and Allowance for Loan Losses for Each Impairment Method [Line Items] | ||||||
Allowance for loan losses | $ 396 | $ 394 | $ 395 | $ 395 | $ 394 | $ 398 |
Note 7 - Loans (Details) - Impa
Note 7 - Loans (Details) - Impaired Loans - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
With no related allowance recorded: | ||
Unpaid principal - with no allowance | $ 9,350 | $ 10,616 |
Recorded investment - with no allowance | 7,764 | 9,075 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 3,880 | 3,241 |
Recorded investment - with allowance | 3,880 | 3,241 |
Related allowance - with allowance | 600 | 769 |
Total | 13,230 | 13,857 |
Total | 11,644 | 12,316 |
Total | 600 | 769 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 651 | 950 |
Recorded investment - with no allowance | 651 | 950 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 1,104 | 715 |
Recorded investment - with allowance | 1,104 | 715 |
Related allowance - with allowance | 136 | 358 |
Total | 136 | 358 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 77 | 17 |
Recorded investment - with no allowance | 77 | 17 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 322 | 16 |
Recorded investment - with allowance | 322 | 16 |
Related allowance - with allowance | 80 | 16 |
Total | 80 | 16 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 7,409 | 8,062 |
Recorded investment - with no allowance | 5,823 | 6,521 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 257 | 513 |
Recorded investment - with no allowance | 257 | 513 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 75 | 150 |
Recorded investment - with allowance | 75 | 150 |
Related allowance - with allowance | 75 | 82 |
Total | 75 | 82 |
Commercial Portfolio Segment [Member] | Commercial Construction and Land [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 25 | 124 |
Recorded investment - with no allowance | 25 | 124 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 1,815 | 1,815 |
Recorded investment - with allowance | 1,815 | 1,815 |
Related allowance - with allowance | 211 | 211 |
Total | 211 | 211 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 910 | 925 |
Recorded investment - with no allowance | 910 | 925 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 564 | 545 |
Recorded investment - with allowance | 564 | 545 |
Related allowance - with allowance | 98 | 102 |
Total | 98 | 102 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
With no related allowance recorded: | ||
Unpaid principal - with no allowance | 21 | 25 |
Recorded investment - with no allowance | 21 | 25 |
With a related allowance recorded: | ||
Unpaid principal - with allowance | 0 | 0 |
Recorded investment - with allowance | 0 | 0 |
Related allowance - with allowance | 0 | 0 |
Total | $ 0 | $ 0 |
Note 7 - Loans (Details) - Aver
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | $ 12,010 | $ 14,595 | $ 12,375 | $ 15,129 |
Interest income recognized on impaired loans on a cash basis | 144 | 210 | 329 | 373 |
Residential Portfolio Segment [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 3,767 | 4,724 | 3,876 | 4,707 |
Interest income recognized on impaired loans on a cash basis | 21 | 24 | 60 | 48 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 3,701 | 4,527 | 3,819 | 4,493 |
Interest income recognized on impaired loans on a cash basis | 20 | 24 | 58 | 46 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 66 | 197 | 57 | 214 |
Interest income recognized on impaired loans on a cash basis | 1 | 0 | 2 | 2 |
Commercial Portfolio Segment [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 8,243 | 9,870 | 8,499 | 10,420 |
Interest income recognized on impaired loans on a cash basis | 123 | 186 | 269 | 325 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 6,286 | 7,261 | 6,437 | 7,589 |
Interest income recognized on impaired loans on a cash basis | 90 | 156 | 203 | 267 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 423 | 882 | 513 | 986 |
Interest income recognized on impaired loans on a cash basis | 5 | 9 | 12 | 19 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 41 | 408 | 58 | 519 |
Interest income recognized on impaired loans on a cash basis | 0 | 2 | 0 | 4 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 1,447 | 1,274 | 1,468 | 1,280 |
Interest income recognized on impaired loans on a cash basis | 26 | 18 | 52 | 33 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 46 | 45 | 23 | 46 |
Interest income recognized on impaired loans on a cash basis | 2 | 1 | 2 | 2 |
Consumer Portfolio Segment [Member] | ||||
Note 7 - Loans (Details) - Average Balance of Impaired Loans and Income Recognized on Impaired Loans [Line Items] | ||||
Average investment in impaired loans | 0 | 1 | 0 | 2 |
Interest income recognized on impaired loans on a cash basis | $ 0 | $ 0 | $ 0 | $ 0 |
Note 7 - Loans (Details) - Nona
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | $ 2,529 | $ 2,843 |
Nonaccrual loans | 12,060 | 12,610 |
Residential Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 1,778 | 2,120 |
Nonaccrual loans | 3,297 | 3,512 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 58 | 49 |
Nonaccrual loans | 20 | 22 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 1,706 | 1,989 |
Nonaccrual loans | 3,227 | 3,440 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 14 | 82 |
Nonaccrual loans | 50 | 50 |
Commercial Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 715 | 693 |
Nonaccrual loans | 8,740 | 9,074 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 630 | 653 |
Nonaccrual loans | 5,714 | 5,804 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 0 | 5 |
Nonaccrual loans | 257 | 379 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 85 | 35 |
Nonaccrual loans | 1,815 | 1,915 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 933 | 951 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 21 | 25 |
Consumer Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing [Line Items] | ||
Loans past due 90+ days and accruing | 36 | 30 |
Nonaccrual loans | $ 23 | $ 24 |
Note 7 - Loans (Details) - Cont
Note 7 - Loans (Details) - Contractual Aging of Loans - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | $ 663,818 | $ 630,545 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 652,311 | 614,930 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 4,472 | 7,490 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 7,035 | 8,125 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 375,271 | 366,416 |
Residential Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 368,596 | 356,658 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,591 | 5,891 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,084 | 3,867 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 39,140 | 36,629 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 38,888 | 36,300 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 194 | 258 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit1 [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 58 | 71 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 19,651 | 16,739 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 19,651 | 16,739 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 294,978 | 291,882 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 288,923 | 282,766 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,085 | 5,443 |
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 2,970 | 3,673 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 21,502 | 21,166 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 21,134 | 20,853 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 312 | 190 |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 56 | 123 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 278,446 | 253,895 |
Commercial Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 273,679 | 248,108 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 852 | 1,559 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,915 | 4,228 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 135,063 | 145,878 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 133,590 | 143,713 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 338 | 883 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 1,135 | 1,282 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 7,826 | 6,938 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 5,896 | 4,897 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 30 | 91 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 1,900 | 1,950 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 61,427 | 50,157 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 61,253 | 49,994 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 153 | 43 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 21 | 120 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 40,908 | 17,534 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 40,908 | 17,534 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 7,565 | 7,916 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 6,704 | 6,811 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 23 | 254 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 838 | 851 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 8,561 | 8,917 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 8,561 | 8,720 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 197 |
Commercial Portfolio Segment [Member] | Multi-family (5 or more) Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 4,287 | 3,221 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,958 | 3,105 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 308 | 91 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 21 | 25 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 12,809 | 13,334 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 12,809 | 13,334 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 10,101 | 10,234 |
Consumer Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 10,036 | 10,164 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 29 | 40 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | $ 36 | $ 30 |
Note 7 - Loans (Details) - Co58
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due | $ 12,060 | $ 12,610 |
Nonaccrual Loans [Member] | ||
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due | 12,060 | 12,610 |
Nonaccrual Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due | 6,885 | 6,959 |
Nonaccrual Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due | 669 | 369 |
Nonaccrual Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Note 7 - Loans (Details) - Contractual Aging of Nonaccrual Loans [Line Items] | ||
Loans current & past due | $ 4,506 | $ 5,282 |
Note 7 - Loans (Details) - Agin
Note 7 - Loans (Details) - Aging of Troubled Debt Restructings - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | $ 663,818 | $ 630,545 |
Troubled debt restructurings, nonaccrual | 12,060 | 12,610 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 652,311 | 614,930 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 4,472 | 7,490 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 7,035 | 8,125 |
Troubled Debt Restructuring [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 6,335 | 7,195 |
Troubled debt restructurings, nonaccrual | 5,216 | 5,388 |
Troubled Debt Restructuring [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 1,013 | 1,725 |
Troubled Debt Restructuring [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | 81 | 82 |
Troubled Debt Restructuring [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, curent & past due less than 30 days | $ 25 | $ 0 |
Note 7 - Loans (Details) - Trou
Note 7 - Loans (Details) - Troubled Debt Restructurings $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 0 | |||
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 2 | 1 | 3 | |
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 67 | $ 56 | $ 150 | |
Troubled debt restructurings, post-modification outstanding recorded investment | $ 67 | $ 56 | $ 150 | |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 1 | |||
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 32 | |||
Troubled debt restructurings, post-modification outstanding recorded investment | $ 32 | |||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 5 | 5 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 6,679 | $ 6,679 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | $ 5,193 | $ 5,193 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 1 | 1 | ||
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 80 | $ 80 | ||
Troubled debt restructurings, post-modification outstanding recorded investment | $ 80 | $ 80 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, number of contracts | 1 | |||
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 30 | |||
Troubled debt restructurings, post-modification outstanding recorded investment | $ 30 |
Note 7 - Loans (Details) - Defa
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 0 | |||
Residential Portfolio Segment [Member] | Senior Lien [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 1 | 2 | 2 | |
Troubled debt restructuring defaults, recorded investment | $ 83 | $ 115 | $ 223 | |
Residential Portfolio Segment [Member] | Junior Lien [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 1 | 1 | ||
Troubled debt restructuring defaults, recorded investment | $ 62 | $ 62 | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 1 | 1 | 1 | |
Troubled debt restructuring defaults, recorded investment | $ 429 | $ 407 | $ 429 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 1 | 1 | ||
Troubled debt restructuring defaults, recorded investment | $ 13 | $ 13 | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 1 | |||
Troubled debt restructuring defaults, recorded investment | $ 25 | |||
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||
Note 7 - Loans (Details) - Defaults on Loans with Previous Modifications [Line Items] | ||||
Troubled debt restructuring defaults, number of contracts | 4 | |||
Troubled debt restructuring defaults, recorded investment | $ 490 |
Note 8 - Borrowed Funds (Detail
Note 8 - Borrowed Funds (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned | $ 4,860,000 | $ 4,860,000 | $ 5,590,000 | ||
Gains (Losses) on Extinguishment of Debt | (910,000) | $ 0 | (910,000) | $ 0 | |
Repayments of Long-term Debt | 11,054,000 | $ 137,000 | |||
Securities Sold under Agreements to Repurchase, Asset | 64,212,000 | $ 64,212,000 | $ 70,982,000 | ||
Repurchase Agreement Maturing in 2017 with a Rate of 4.265% [Member] | |||||
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Gains (Losses) on Extinguishment of Debt | (910,000) | ||||
Repayments of Long-term Debt | $ 10,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.265% | 4.265% | 4.265% | ||
Securities Sold under Agreements to Repurchase [Member] | |||||
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Debt, Weighted Average Interest Rate | 0.10% | 0.10% | 0.10% | ||
Federal Home Loan Bank of Pittsburgh [Member] | |||||
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 443,861,000 | $ 443,861,000 | $ 446,780,000 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 292,963,000 | 292,963,000 | |||
Federal Home Loan Bank of Pittsburgh [Member] | Other Assets [Member] | |||||
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Federal Home Loan Bank Stock | $ 2,372,000 | $ 2,372,000 | $ 1,454,000 | ||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | |||||
Note 8 - Borrowed Funds (Details) [Line Items] | |||||
Short-term Debt, Percentage Bearing Fixed Interest Rate | 0.34% | 0.34% |
Note 8 - Borrowed Funds (Deta63
Note 8 - Borrowed Funds (Details) - Short-term Borrowings - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Short-term Debt [Line Items] | ||
Short-term borrowings | $ 19,806 | $ 5,537 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 4,806 | 5,537 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | $ 15,000 | $ 0 |
Note 8 - Borrowed Funds (Deta64
Note 8 - Borrowed Funds (Details) - Long-term Borrowings - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 62,916 | $ 73,060 |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | 11,916 | 12,060 |
Repurchase Agreements [Member] | ||
Debt Instrument [Line Items] | ||
Long-term borrowings | $ 51,000 | $ 61,000 |
Note 8 - Borrowed Funds (Deta65
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | $ 62,916 | $ 73,060 |
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | ||
Note 8 - 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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | 24,000 | 34,000 |
Repurchase Agreements [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Repurchase agreements | 51,000 | 61,000 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 11,916 | 12,060 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2016 With Rate of 6.86% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 83 | 107 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 6.83% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 13 | 16 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 3.81% [Member] | ||
Note 8 - 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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | 905 | 987 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2025 With Rate of 4.91% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities [Line Items] | ||
Long-term borrowings from FHLB - Pittsburgh | $ 915 | $ 950 |
Note 8 - Borrowed Funds (Deta66
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) | Jun. 30, 2015 | Dec. 31, 2014 |
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Rate | 3.595% | 3.595% |
Repurchase Agreement Maturing in 2017 with a Rate of 4.265% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Rate | 4.265% | 4.265% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2016 With Rate of 6.86% [Member] | ||
Note 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
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 8 - Borrowed Funds (Details) - Long-term Borrowing Maturities (Parentheticals) [Line Items] | ||
Rate | 4.91% | 4.91% |
Note 8 - Borrowed Funds (Deta67
Note 8 - Borrowed Funds (Details) - Underlying Securities - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Underlying securities | $ 64,212,000 | $ 70,982,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Underlying securities | 21,888,000 | 24,114,000 |
Collateralized Mortgage Obligations [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Underlying securities | $ 42,324,000 | $ 46,868,000 |
Note 9 - Defined Benefit Plan68
Note 9 - Defined Benefit Plans (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2015 | |
Note 9 - Defined Benefit Plans (Details) [Line Items] | ||
Pension and Other Postretirement Benefit Contributions | $ 31,000 | |
Scenario, Forecast [Member] | ||
Note 9 - Defined Benefit Plans (Details) [Line Items] | ||
Pension and Other Postretirement Benefit Contributions | $ 65,000 |
Note 9 - Defined Benefit Plan69
Note 9 - Defined Benefit Plans (Details) - Net Periodic Benefit Costs - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 9 | 19 | 18 | 37 |
Expected return on plan assets | (12) | (22) | (23) | (44) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial loss | 3 | 4 | 7 | 8 |
Net periodic benefit cost | 0 | 1 | 2 | 1 |
Other Postretirement Benefit Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 9 | 8 | 19 | 17 |
Interest cost | 15 | 15 | 28 | 29 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost | (8) | (8) | (15) | (16) |
Recognized net actuarial loss | 0 | 0 | 0 | 0 |
Net periodic benefit cost | $ 16 | $ 15 | $ 32 | $ 30 |
Note 10 - Stock-based Compens70
Note 10 - Stock-based Compensation Plans (Details) - $ / shares | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Jan. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 39,027 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 20.45 | |||
Independent Directors Stock Incentive Plan [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Estimated Options Forfeiture Rate | 3.00% | |||
Stock Incentive Plan [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Estimated Options Forfeiture Rate | 34.00% | |||
Restricted Stock [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 34,800 | 16,711 | ||
Restricted Stock [Member] | Chief Executive Officer [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,174 | |||
Restricted Stock [Member] | Independent Directors Stock Incentive Plan [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 7,130 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||
Restricted Stock [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 20,298 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Restricted Stock [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 2,198 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Restricted Stock [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||
Note 10 - Stock-based Compensation Plans (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Note 10 - Stock-based Compens71
Note 10 - Stock-based Compensation Plans (Details) - Stock Option Fair Value Assumptions - 6 months ended Jun. 30, 2015 - $ / shares | Total |
Stock Option Fair Value Assumptions [Abstract] | |
Fair value of each option granted (in Dollars per share) | $ 5.50 |
Volatility | 39.00% |
Expected option lives (Years) | 8 years |
Risk-free interest rate | 2.85% |
Dividend yield | 4.33% |
Note 10 - Stock-based Compens72
Note 10 - Stock-based Compensation Plans (Details) - Stock-Based Compensation Expense - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based combensation | $ 157 | $ 172 | $ 307 | $ 384 |
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based combensation | 0 | 59 | 0 | 154 |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based combensation | $ 157 | $ 113 | $ 307 | $ 230 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Income Taxes (Details) [Line Items] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | 35.00% | ||
Income Tax Credits and Adjustments | $ 159,000 | |||||
Income Tax Expense (Benefit) Increase (Decrease) | $ 20,000 | $ 20,000 | $ 40,000 | $ 41,000 | 83,000 | |
Unrecognized Tax Benefits | 0 | 0 | ||||
Other Assets [Member] | ||||||
Note 11 - Income Taxes (Details) [Line Items] | ||||||
Amortization Method Qualified Affordable Housing Project Investments | $ 862,000 | $ 862,000 | $ 906,000 | |||
Scenario, Forecast [Member] | ||||||
Note 11 - Income Taxes (Details) [Line Items] | ||||||
Income Tax Credits and Adjustments | $ 158,000 | |||||
Income Tax Expense (Benefit) Increase (Decrease) | $ 80,000 |
Note 11 - Income Taxes (Detai74
Note 11 - Income Taxes (Details) - Net Deferred Tax Assets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Net realized losses on securities | $ 144 | $ 144 |
Allowance for loan losses | 2,555 | 2,568 |
Credit for alternative minimum tax paid | 74 | 537 |
Other deferred tax assets | 2,490 | 2,595 |
Total deferred tax assets | 5,263 | 5,844 |
Deferred tax liabilities: | ||
Unrealized holding gains on securities | 2,195 | 2,844 |
Defined benefit plans - ASC 835 | 5 | 43 |
Bank premises and equipment | 991 | 1,134 |
Core deposit intangibles | 14 | 18 |
Other deferred tax liabilities | 127 | 137 |
Total deferred tax liabilities | 3,332 | 4,176 |
Deferred tax asset, net | $ 1,931 | $ 1,668 |
Note 11 - Income Taxes (Detai75
Note 11 - Income Taxes (Details) - Reconciliation of Income Tax - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Reconciliation of Income Tax [Abstract] | ||||
Income before income tax provision | $ 5,809 | $ 5,563 | $ 10,853 | $ 11,250 |
Income tax provision | $ 1,452 | $ 1,400 | $ 2,681 | $ 2,799 |
Effective tax rate | 25.00% | 25.17% | 24.70% | 24.88% |