Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 27, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Stock Yards Bancorp, Inc. | |
Trading Symbol | sybt | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 14,870,711 | |
Amendment Flag | false | |
Entity Central Index Key | 835,324 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Cash and due from banks | $ 37,335 | $ 42,216 |
Federal funds sold | 17,859 | 32,025 |
Cash and cash equivalents | 55,194 | 74,241 |
Mortgage loans held for sale | 5,539 | 3,747 |
Securities available-for-sale (amortized cost of $498,633 and $509,276 in 2015 and 2014, respectively) | 504,366 | 513,056 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans | 1,954,425 | 1,868,550 |
Less allowance for loan losses | 21,614 | 24,920 |
Net loans | 1,932,811 | 1,843,630 |
Premises and equipment, net | 39,951 | 39,088 |
Bank owned life insurance | 30,777 | 30,107 |
Accrued interest receivable | 6,058 | 5,980 |
Other assets | 43,564 | 47,672 |
Total assets | 2,624,607 | 2,563,868 |
Deposits: | ||
Non-interest bearing | 595,039 | 523,947 |
Interest bearing | 1,546,539 | 1,599,680 |
Total deposits | 2,141,578 | 2,123,627 |
Securities sold under agreements to repurchase | 67,557 | 69,559 |
Federal funds purchased | 62,101 | 47,390 |
Accrued interest payable | 126 | 131 |
Other liabilities | 28,598 | 26,434 |
Federal Home Loan Bank advances | 43,699 | 36,832 |
Total liabilities | $ 2,343,659 | $ 2,303,973 |
Stockholders’ equity: | ||
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding | ||
Common stock, no par value. Authorized 20,000,000 shares; issued and outstanding 14,868,894 and 14,744,684 shares in 2015 and 2014, respectively | $ 10,448 | $ 10,035 |
Additional paid-in capital | 42,217 | 38,191 |
Retained earnings | 225,178 | 209,584 |
Accumulated other comprehensive income | 3,105 | 2,085 |
Total stockholders’ equity | 280,948 | 259,895 |
Total liabilities and stockholders’ equity | $ 2,624,607 | $ 2,563,868 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Securities available for sale, amortized cost (in Dollars) | $ 498,633 | $ 509,276 |
Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 14,868,894 | 14,744,684 |
Common stock, shares outstanding | 14,868,894 | 14,744,684 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income: | ||||
Loans | $ 20,924 | $ 20,429 | $ 61,951 | $ 59,575 |
Federal funds sold | 65 | 73 | 184 | 215 |
Mortgage loans held for sale | 67 | 54 | 180 | 128 |
Securities – taxable | 1,936 | 1,845 | 5,939 | 5,506 |
Securities – tax-exempt | 292 | 291 | 877 | 885 |
Total interest income | 23,284 | 22,692 | 69,131 | 66,309 |
Interest expense: | ||||
Deposits | 900 | 1,065 | 2,811 | 3,319 |
Federal funds purchased | 7 | 8 | 19 | 23 |
Securities sold under agreements to repurchase | 42 | 37 | 111 | 100 |
Federal Home Loan Bank advances | 254 | 219 | 694 | 621 |
Total interest expense | 1,203 | 1,329 | 3,635 | 4,063 |
Net interest income | 22,081 | 21,363 | 65,496 | 62,246 |
Provision (credit) for loan losses | (2,100) | 0 | (400) | |
Net interest income after provision for loan losses | 22,081 | 23,463 | 65,496 | 62,646 |
Non-interest income: | ||||
Investment management and trust services | 4,373 | 4,502 | 13,576 | 13,825 |
Service charges on deposit accounts | 2,342 | 2,294 | 6,621 | 6,620 |
Bankcard transaction revenue | 1,223 | 1,182 | 3,591 | 3,466 |
Mortgage banking revenue | 772 | 641 | 2,513 | 1,951 |
Gain (loss) on sales of securities available for sale | (9) | |||
Brokerage commissions and fees | 585 | 539 | 1,545 | 1,506 |
Bank owned life insurance income | 222 | 229 | 670 | 699 |
Other | 468 | 463 | 1,361 | 1,324 |
Total non-interest income | 9,985 | 9,850 | 29,877 | 29,382 |
Non-interest expenses: | ||||
Salaries and employee benefits | 11,333 | 11,855 | 33,816 | 33,697 |
Net occupancy expense | 1,518 | 1,422 | 4,437 | 4,431 |
Data processing expense | 1,572 | 1,591 | 4,782 | 4,869 |
Furniture and equipment expense | 282 | 269 | 789 | 796 |
FDIC insurance expense | 318 | 340 | 932 | 1,032 |
Loss (gain) on other real estate owned | (12) | 7 | 153 | (342) |
Other | 3,419 | 3,225 | 10,167 | 9,471 |
Total non-interest expenses | 18,430 | 18,709 | 55,076 | 53,954 |
Income before income taxes | 13,636 | 14,604 | 40,297 | 38,074 |
Income tax expense | 4,352 | 4,715 | 12,756 | 11,974 |
Net income | $ 9,284 | $ 9,889 | $ 27,541 | $ 26,100 |
Net income per share: | ||||
Basic (in Dollars per share) | $ 0.63 | $ 0.68 | $ 1.87 | $ 1.79 |
Diluted (in Dollars per share) | $ 0.62 | $ 0.67 | $ 1.84 | $ 1.77 |
Average common shares: | ||||
Basic (in Shares) | 14,754 | 14,574 | 14,704 | 14,542 |
Diluted (in Shares) | 14,986 | 14,748 | 14,940 | 14,732 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 9,284 | $ 9,889 | $ 27,541 | $ 26,100 |
Unrealized gains (losses) on securities available for sale: | ||||
Unrealized gains (losses) arising during the period (net of tax of $1,089, ($234), $683 and $1,521, respectively) | 2,023 | (435) | 1,270 | 2,823 |
Reclassification adjustment for securities losses realized in income (net of tax of $0, $0, $0, and $3, respectively) | 6 | |||
Unrealized (losses) gains on hedging instruments: | ||||
Unrealized (losses) gains arising during the period (net of tax of ($124), $12, ($135) and $6, respectively) | (231) | 23 | (250) | 10 |
Other comprehensive income (loss), net of tax | 1,792 | (412) | 1,020 | 2,839 |
Comprehensive income | $ 11,076 | $ 9,477 | $ 28,561 | $ 28,939 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Unrealized (losses) gains arising during the period, tax | $ 1,089 | $ (234) | $ 683 | $ 1,521 |
Reclassification adjustment for securities losses realized in income, tax | 0 | 0 | 0 | 3 |
Unrealized losses arising during the period, tax | $ (124) | $ 12 | $ (135) | $ 6 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2013 | $ 9,581 | $ 33,255 | $ 188,825 | $ (2,217) | $ 229,444 |
Balance (in Shares) at Dec. 31, 2013 | 14,609 | ||||
Net income | 26,100 | 26,100 | |||
Other comprehensive income (loss), net of tax | 2,839 | 2,839 | |||
Stock compensation expense | 1,459 | 1,459 | |||
Stock issued for exercise of stock options, net of withholdings to satisfy employee tax obligations upon vesting of stock awards | $ 269 | 1,870 | (95) | 2,044 | |
Stock issued for exercise of stock options, net of withholdings to satisfy employee tax obligations upon vesting of stock awards (in Shares) | 81 | ||||
Stock issued for non-vested restricted stock | $ 132 | 1,022 | (1,154) | ||
Stock issued for non-vested restricted stock (in Shares) | 40 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 18 | (111) | (93) | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in Shares) | 5 | ||||
Cash dividends declared | (9,534) | (9,534) | |||
Shares repurchased or cancelled | $ (102) | (784) | 73 | (813) | |
Shares repurchased or cancelled (in Shares) | (31) | ||||
Balance at Sep. 30, 2014 | $ 9,898 | 36,711 | 204,215 | 622 | 251,446 |
Balance (in Shares) at Sep. 30, 2014 | 14,704 | ||||
Balance at Dec. 31, 2014 | $ 10,035 | 38,191 | 209,584 | 2,085 | 259,895 |
Balance (in Shares) at Dec. 31, 2014 | 14,745 | ||||
Net income | 27,541 | 27,541 | |||
Other comprehensive income (loss), net of tax | 1,020 | 1,020 | |||
Stock compensation expense | 1,561 | 1,561 | |||
Stock issued for exercise of stock options, net of withholdings to satisfy employee tax obligations upon vesting of stock awards | $ 307 | 2,383 | (201) | 2,489 | |
Stock issued for exercise of stock options, net of withholdings to satisfy employee tax obligations upon vesting of stock awards (in Shares) | 92 | ||||
Stock issued for non-vested restricted stock | $ 116 | 1,088 | (1,204) | ||
Stock issued for non-vested restricted stock (in Shares) | 35 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | $ 60 | (397) | (128) | (465) | |
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in Shares) | 18 | ||||
Cash dividends declared | (10,519) | (10,519) | |||
Shares repurchased or cancelled | $ (70) | (609) | 105 | (574) | |
Shares repurchased or cancelled (in Shares) | (21) | ||||
Balance at Sep. 30, 2015 | $ 10,448 | $ 42,217 | $ 225,178 | $ 3,105 | $ 280,948 |
Balance (in Shares) at Sep. 30, 2015 | 14,869 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash dividends | $ 0.71 | $ 0.65 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 30, 2014 | |
Operating activities: | |||||||
Net income | $ 9,284 | $ 9,889 | $ 27,541 | $ 26,100 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision (credit) for loan losses | (2,100) | 0 | (400) | $ (400) | |||
Depreciation, amortization and accretion, net | 5,088 | 3,226 | |||||
Deferred income tax expense (benefit) | 1,326 | (252) | |||||
Loss on sale of securities available for sale | 9 | ||||||
Gain on sales of mortgage loans held for sale | (1,611) | (769) | |||||
Origination of mortgage loans held for sale | (90,997) | (64,332) | |||||
Proceeds from sale of mortgage loans held for sale | 90,816 | 63,159 | |||||
Bank owned life insurance income | (222) | (229) | (670) | (699) | |||
Loss (gain) on the disposal of premises and equipment | 3 | (30) | |||||
Loss (gain) on the sale of other real estate | (12) | 7 | 153 | (342) | |||
Stock compensation expense | 1,561 | 1,459 | |||||
Excess tax benefits from share-based compensation arrangements | (366) | (257) | |||||
(Increase) decrease in accrued interest receivable and other assets | (1,049) | 1,107 | |||||
Increase in accrued interest payable and other liabilities | 2,509 | 2,049 | |||||
Net cash provided by operating activities | 34,304 | 30,028 | |||||
Investing activities: | |||||||
Purchases of securities available for sale | (203,465) | (220,296) | |||||
Proceeds from sale of securities available for sale | $ 5,900 | 5,934 | 7,732 | $ 7,700 | |||
Proceeds from maturities of securities available for sale | 206,734 | 256,948 | |||||
Net increase in loans | (90,224) | (66,748) | |||||
Purchases of premises and equipment | (3,136) | (1,517) | |||||
Proceeds from disposal of premises and equipment | 344 | ||||||
Proceeds from sale of foreclosed assets | 2,332 | 4,768 | |||||
Net cash used in investing activities | (81,825) | (18,769) | |||||
Financing activities: | |||||||
Net increase in deposits | 17,951 | 26,884 | |||||
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased | 12,709 | (34,659) | |||||
Proceeds from Federal Home Loan Bank advances | 78,200 | 32,740 | |||||
Repayments of Federal Home Loan Bank advances | (71,333) | (30,150) | |||||
Issuance of common stock for options and performance stock units | 1,994 | 1,445 | |||||
Excess tax benefits from share-based compensation arrangements | 366 | 257 | |||||
Common stock repurchases | (910) | (564) | |||||
Cash dividends paid | (10,503) | (9,534) | |||||
Net cash provided by (used in) financing activities | 28,474 | (13,581) | |||||
Net decrease in cash and cash equivalents | (19,047) | (2,322) | |||||
Cash and cash equivalents at beginning of period | $ 74,241 | 74,241 | 70,770 | 70,770 | $ 70,770 | ||
Cash and cash equivalents at end of period | $ 55,194 | $ 68,448 | 55,194 | 68,448 | $ 74,241 | ||
Supplemental cash flow information: | |||||||
Income tax payments | 10,177 | 8,764 | |||||
Cash paid for interest | 3,640 | 4,063 | |||||
Supplemental non-cash activity: | |||||||
Transfers from loans to other real estate owned | $ 1,043 | $ 1,780 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | (1) Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and footnotes required by U.S. generally accepted accounting principles (US GAAP) for complete financial statements. The consolidated unaudited financial statements of Stock Yards Bancorp, Inc. (“Bancorp”) and its subsidiary reflect all adjustments (consisting only of adjustments of a normal recurring nature) which are, in the opinion of management, necessary for a fair presentation of financial condition and results of operations for the interim periods. The unaudited consolidated financial statements include the accounts of Stock Yards Bancorp, Inc. and its wholly-owned subsidiary, Stock Yards Bank & Trust Company (“Bank”). Significant intercompany transactions and accounts have been eliminated in consolidation. In preparing the unaudited consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of related revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of available-for sale securities, other real estate owned and income tax assets, and estimated liabilities and expense. A description of other significant accounting policies is presented in the notes to Consolidated Financial Statements for the year ended December 31, 2014 included in Stock Yards Bancorp, Inc.’s Annual Report on Form 10-K. Certain reclassifications have been made in the prior year financial statements to conform to current year classifications. Interim results for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results for the entire year. Critical Accounting Policies Management has identified the accounting policy related to the allowance and provision for loan losses as critical to the understanding of Bancorp’s results of operations and discussed this conclusion with the Audit Committee of the Board of Directors. Since the application of this policy requires significant management assumptions and estimates, it could result in materially different amounts to be reported if conditions or underlying circumstances were to change. Assumptions include many factors such as changes in borrowers’ financial condition which can change quickly or historical loss ratios related to certain loan portfolios which may or may not be indicative of future losses. In the second quarter of 2015, Bancorp extended the historical period used to capture Bancorp’s historical loss ratios from 12 quarters to 24 quarters. Management believes the extension of the look-back period is appropriate to capture the impact of a full economic cycle and more accurately represents the current level of risk inherent in the loan portfolio. To the extent that management’s assumptions prove incorrect, the results from operations could be materially affected by a higher or lower provision for loan losses. The accounting policy related to the allowance for loan losses is applicable to the commercial banking segment of Bancorp. The allowance for loan losses is management’s estimate of probable losses inherent in the loan portfolio as of the balance sheet date. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Bancorp’s allowance calculation includes allocations to loan portfolio segments at September 30, 2015 for qualitative factors including, among other factors, local economic and business conditions, the quality and experience of lending staff and management, changes in lending policies and procedures, levels of and trends in past due loans and loan classifications, concentrations of credit such as collateral type, trends in portfolio growth, changes in the value of underlying collateral for collateral-dependent loans considering Bancorp’s disposition bias, effect of other external factors such as the national economic and business trends, and the quality and depth of the loan review function. Bancorp may also consider other qualitative factors in future periods for additional allowance allocations, including, among other factors, changes in Bancorp’s loan review process. Bancorp utilizes the sum of all allowance amounts derived as described above as the appropriate level of allowance for loan and lease losses. Changes in the criteria used in this evaluation or the availability of new information could cause the allowance to be increased or decreased in future periods. In addition, bank regulatory agencies, as part of their examination process, may require adjustments to the allowance for loan and lease losses based on their judgments and estimates. |
Note 2 - Securities
Note 2 - Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | (2) Securities The amortized cost, unrealized gains and losses, and fair value of securities available-for-sale follow: (in thousands) Amortized Unrealized Fair September 30, 2015 cost Gains Losses value U.S. Treasury and other U.S. Government obligations $ 100,000 $ - $ - $ 100,000 Government sponsored enterprise obligations 184,258 2,746 194 186,810 Mortgage-backed securities - government agencies 152,552 2,564 769 154,347 Obligations of states and political subdivisions 61,067 1,482 41 62,508 Corporate equity securities 756 - 55 701 Total securities available for sale $ 498,633 $ 6,792 $ 1,059 $ 504,366 December 31, 2014 U.S. Treasury and other U.S. Government obligations $ 70,000 $ - $ - $ 70,000 Government sponsored enterprise obligations 203,531 2,017 562 204,986 Mortgage-backed securities - government agencies 173,573 2,042 1,345 174,270 Obligations of states and political subdivisions 61,416 1,560 142 62,834 Corporate equity securities 756 210 - 966 Total securities available for sale $ 509,276 $ 5,829 $ 2,049 $ 513,056 Corporate equity securities consist of common stock in a publicly-traded business development company. There were no securities classified as held to maturity as of September 30, 2015 or December 31, 2014. In the first quarter of 2015, Bancorp sold securities with total fair market value of $5.9 million, generating no gain or loss. These securities consisted of agency and mortgage-backed securities with small remaining balances and agency securities. In 2014, Bancorp sold securities with total fair market value of $7.7 million, generating a net loss of $9 thousand. These securities consisted of mortgage-backed securities with small remaining balances, obligations of state and political subdivisions, and agency securities. These sales were made in the ordinary course of portfolio management. Management has the intent and ability to hold all remaining investment securities available-for-sale for the foreseeable future. A summary of the available-for-sale investment securities by contractual maturity groupings as of September 30, 2015 is shown below. (in thousands) Securities available-for-sale Amortized cost Fair value Due within 1 year $ 125,176 $ 125,348 Due after 1 but within 5 years 114,928 117,100 Due after 5 but within 10 years 15,694 15,992 Due after 10 years 89,527 90,878 Mortgage-backed securities 152,552 154,347 Corporate equity securities 756 701 Total securities available-for-sale $ 498,633 $ 504,366 Actual maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations. In addition to equity securities, the investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as the FHLMC, FNMA, and GNMA. These securities differ from traditional debt securities primarily in that they may have uncertain principal payment dates and are priced based on estimated prepayment rates on the underlying collateral. Securities with a carrying value of approximately $278.1 million at September 30, 2015 and $263.1 million at December 31, 2014 were pledged to secure accounts of commercial depositors in cash management accounts, public deposits, and cash balances for certain investment management and trust accounts. Securities with unrealized losses at September 30, 2015 and December 31, 2014, not recognized in the statements of income are as follows: (in thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2015 value losses value losses value losses Government sponsored enterprise obligations $ 6,353 $ 8 $ 8,740 $ 186 $ 15,093 $ 194 Mortgage-backed securities - government agencies 12,929 129 31,734 640 44,663 769 Obligations of states and political subdivisions 7,817 25 2,232 16 10,049 41 Corporate equity securities 701 55 - - 701 55 Total temporarily impaired securities $ 27,800 $ 217 $ 42,706 $ 842 $ 70,506 $ 1,059 December 31, 2014 Government sponsored enterprise obligations $ 36,979 $ 30 $ 26,848 $ 532 $ 63,827 $ 562 Mortgage-backed securities - government agencies 4,038 77 49,325 1,268 53,363 1,345 Obligations of states and political subdivisions 12,655 67 6,297 75 18,952 142 Total temporarily impaired securities $ 53,672 $ 174 $ 82,470 $ 1,875 $ 136,142 $ 2,049 Applic able dates for determining when securities are in an unrealized loss position are September 30, 2015 and December 31, 2014. As such, it is possible that a security had a market value lower than its amortized cost on other days during the past twelve months, but is not in the “Investments with an Unrealized Loss of less than 12 months” category above. Unrealized losses on Bancorp’s investment securities portfolio have not been recognized as an expense because the securities are of high credit quality, and the decline in fair values is due to changes in the prevailing interest rate environment since the purchase date. Fair value is expected to recover as securities reach their maturity date and/or the interest rate environment returns to conditions similar to when these securities were purchased. These investments consist of 45 and 80 separate investment positions as of September 30, 2015 and December 31, 2014, respectively. Because management does not intend to sell the investments, and it is not likely that Bancorp will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, Bancorp does not consider these securities to be other-than-temporarily impaired at September 30, 2015. FHLB stock and other securities are investments held by Bancorp which are not readily marketable and are carried at cost. This category includes holdings of Federal Home Loan Bank of Cincinnati (FHLB) stock which are required for access to FHLB borrowing, and are classified as restricted securities. |
Note 3 - Loans
Note 3 - Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | (3) Loans Composition of loans, net of deferred fees and costs, by primary loan portfolio class follows: (in thousands) September 30, 2015 December 31, 2014 Commercial and industrial $ 610,877 $ 571,754 Construction and development, excluding undeveloped land 109,870 95,733 Undeveloped land 18,950 21,268 Real estate mortgage: Commercial investment 491,171 487,822 Owner occupied commercial 357,628 340,982 1-4 family residential 222,643 211,548 Home equity - first lien 49,937 43,779 Home equity - junior lien 62,223 66,268 Subtotal: Real estate mortgage 1,183,602 1,150,399 Consumer 31,126 29,396 Total loans $ 1,954,425 $ 1,868,550 The following table presents the balance in the recorded investment in loans and allowance for loan losses by portfolio segment and based on impairment evaluation method as of September 30, 2015 and December 31, 2014. (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate September 30, 2015 industrial land land mortgage Consumer Total Loans $ 610,877 $ 109,870 $ 18,950 $ 1,183,602 $ 31,126 $ 1,954,425 Loans collectively evaluated for impairment $ 604,021 $ 109,523 $ 18,950 $ 1,179,342 $ 31,041 $ 1,942,877 Loans individually evaluated for impairment $ 6,778 $ 26 $ - $ 3,764 $ 85 $ 10,653 Loans acquired with deteriorated credit quality $ 78 $ 321 $ - $ 496 $ - $ 895 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Unallocated Total Allowance for loan losses At December 31, 2014 $ 11,819 $ 721 $ 1,545 $ 10,541 $ 294 $ - $ 24,920 Provision (credit) (214 ) 599 (1,327 ) 844 98 - - Charge-offs (3,346 ) - - (688 ) (447 ) - (4,481 ) Recoveries 47 - 650 118 360 - 1,175 At September 30, 2015 $ 8,306 $ 1,320 $ 868 $ 10,815 $ 305 $ - $ 21,614 Allowance for loans collectively evaluated for impairment $ 7,089 $ 1,320 $ 868 $ 10,499 $ 235 $ - $ 20,011 Allowance for loans individually evaluated for impairment $ 1,217 $ - $ - $ 316 $ 70 $ - $ 1,603 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate December 31, 2014 industrial land land mortgage Consumer Total Loans $ 571,754 $ 95,733 $ 21,268 $ 1,150,399 $ 29,396 $ 1,868,550 Loans collectively evaluated for impairment $ 564,443 $ 94,603 $ 21,268 $ 1,146,212 $ 29,311 $ 1,855,837 Loans individually evaluated for impairment $ 7,239 $ 516 $ - $ 3,720 $ 76 $ 11,551 Loans acquired with deteriorated credit quality $ 72 $ 614 $ - $ 467 $ 9 $ 1,162 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Unallocated Total Allowance for loan losses At December 31, 2013 $ 7,644 $ 2,555 $ 5,376 $ 12,604 $ 343 $ - $ 28,522 Provision (credit) 4,593 (1,584 ) (2,244 ) (1,190 ) 25 - (400 ) Charge-offs (661 ) (250 ) (1,753 ) (993 ) (587 ) - (4,244 ) Recoveries 243 - 166 120 513 - 1,042 At December 31, 2014 $ 11,819 $ 721 $ 1,545 $ 10,541 $ 294 $ - $ 24,920 Allowance for loans collectively evaluated for impairment $ 10,790 $ 706 $ 1,545 $ 10,285 $ 218 $ - $ 23,544 Allowance for loans individually evaluated for impairment $ 1,029 $ 15 $ - $ 256 $ 76 $ - $ 1,376 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - The considerations by Bancorp in computing its allowance for loan losses are determined based on the various risk characteristics of each loan segment. Relevant risk characteristics are as follows: ● Commercial and industrial loans: Loans in this category are made to businesses. Generally these loans are secured by assets of the business and repayment is expected from the cash flows of the business. A weakened economy and resultant decreased consumer and/or business spending will have an effect on the credit quality in this loan category. ● Construction and development, excluding undeveloped land: Loans in this category primarily include owner-occupied and investment construction loans and commercial development projects. In most cases, construction loans require only interest to be paid during construction. Upon completion or stabilization, the construction loan may convert to permanent financing in the real estate mortgage segment, requiring principal amortization. Repayment of development loans is derived from sale of lots or units including any pre-sold units. Credit risk is affected by construction delays, cost overruns, market conditions and availability of permanent financing, to the extent such permanent financing is not being provided by Bancorp. ● Undeveloped land: Loans in this category are secured by land initially acquired for development by the borrower, but for which no development has yet taken place. Credit risk is affected by market conditions and time to sell lots at an adequate price. Credit risk is also affected by availability of permanent financing, to the extent such permanent financing is not being provided by Bancorp. ● Real estate mortgage: Loans in this category are made to and secured by owner-occupied residential real estate, owner-occupied real estate used for business purposes, and income-producing investment properties. Repayment is dependent on credit quality of the individual borrower. Underlying properties are generally located in Bancorp’s primary market area. Cash flows of income producing investment properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on credit quality. Overall health of the economy, including unemployment rates and real estate prices, has an effect on credit quality in this loan category. ● Consumer: Loans in this category may be either secured or unsecured and repayment is dependent on credit quality of the individual borrower and, if applicable, sale of collateral securing the loan. Therefore, overall health of the economy, including unemployment rates and stock prices, will have a significant effect on credit quality in this loan category. Bancorp has loans that were acquired in a 2013 acquisition, for which there was, at acquisition, evidence of deterioration of credit quality since origination and for which it was probable that all contractually required payments would not be collected. The carrying amount of those loans is included in the balance sheet amounts of loans at September 30, 2015 and December 31, 2014. Changes in the fair value adjustment for acquired impaired loans are shown in the following table: (in thousands) Accretable discount Non-accretable discount Balance at December 31, 2013 $ 137 $ 369 Accretion (75 ) (103 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at December 31, 2014 62 266 Accretion (53 ) (74 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at September 30, 2015 $ 9 $ 192 The following table presents loans individually evaluated for impairment as of September 30, 2015 and December 31, 2014. (in thousands) Unpaid Average Recorded principal Related recorded September 30, 2015 investment balance allowance investment Loans with no related allowance recorded Commercial and industrial $ 1,545 $ 4,245 $ - $ 988 Construction and development, excluding undeveloped land 26 151 - 26 Undeveloped land - - - - Real estate mortgage Commercial investment 285 542 - 154 Owner occupied commercial 1,603 2,040 - 1,591 1-4 family residential 316 316 - 600 Home equity - first lien 91 91 - 43 Home equity - junior lien 37 37 - 64 Subtotal: Real estate mortgage 2,332 3,026 - 2,452 Consumer 15 15 - 4 Subtotal $ 3,918 $ 7,437 $ - $ 3,470 Loans with an allowance recorded Commercial and industrial $ 5,233 $ 6,804 $ 1,217 $ 5,387 Construction and development, excluding undeveloped land - - - 368 Undeveloped land - - - - Real estate mortgage Commercial investment - - - 92 Owner occupied commercial 1,432 1,432 316 1,328 1-4 family residential - - - 188 Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage 1,432 1,432 316 1,608 Consumer 70 70 70 73 Subtotal $ 6,735 $ 8,306 $ 1,603 $ 7,436 Total Commercial and industrial $ 6,778 $ 11,049 $ 1,217 $ 6,375 Construction and development, excluding undeveloped land 26 151 - 394 Undeveloped land - - - - Real estate mortgage - - - - Commercial investment 285 542 - 246 Owner occupied commercial 3,035 3,472 316 2,919 1-4 family residential 316 316 - 788 Home equity - first lien 91 91 - 43 Home equity - junior lien 37 37 - 64 Subtotal: Real estate mortgage 3,764 4,458 316 4,060 Consumer 85 85 70 77 Total $ 10,653 $ 15,743 $ 1,603 $ 10,906 (in thousands) Unpaid Average Recorded principal Related recorded December 31, 2014 investment balance allowance investment Loans with no related allowance recorded Commercial and industrial $ 896 $ 3,596 $ - $ 996 Construction and development, excluding undeveloped land 26 151 - 26 Undeveloped land - - - 5,608 Real estate mortgage Commercial investment 113 113 - 198 Owner occupied commercial 1,784 2,221 - 1,939 1-4 family residential 870 870 - 782 Home equity - first lien - - - 11 Home equity - junior lien 36 36 - 69 Subtotal: Real estate mortgage 2,803 3,240 - 2,999 Consumer - - - - Subtotal $ 3,725 $ 6,987 $ - $ 9,629 Loans with an allowance recorded Commercial and industrial $ 6,343 $ 7,914 $ 1,029 $ 6,797 Construction and development, excluding undeveloped land 490 490 15 196 Undeveloped land - - - - Real estate mortgage Commercial investment 122 122 - 640 Owner occupied commercial 716 716 112 704 1-4 family residential 79 79 144 651 Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage 917 917 256 1,995 Consumer 76 76 76 80 Subtotal $ 7,826 $ 9,397 $ 1,376 $ 9,068 Total Commercial and industrial $ 7,239 $ 11,510 $ 1,029 $ 7,793 Construction and development, excluding undeveloped land 516 641 15 222 Undeveloped land - - - 5,608 Real estate mortgage - - - - Commercial investment 235 235 - 838 Owner occupied commercial 2,500 2,937 112 2,643 1-4 family residential 949 949 144 1,433 Home equity - first lien - - - 11 Home equity - junior lien 36 36 - 69 Subtotal: Real estate mortgage 3,720 4,157 256 4,994 Consumer 76 76 76 80 Total $ 11,551 $ 16,384 $ 1,376 $ 18,697 Differences between recorded investment amounts and unpaid principal balance amounts less related allowance are due to partial charge-offs which have occurred over the life of loans. Impaired loans include non-accrual loans and accruing loans accounted for as troubled debt restructurings (TDR), which continue to accrue interest. Non-performing loans include the balance of impaired loans plus any loans over 90 days past due and still accruing interest. Loans past due more than 90 days and still accruing interest amounted to $544 thousand and $329 thousand at September 30, 2015 and December 31, 2014, respectively. The following table presents the recorded investment in non-accrual loans as of September 30, 2015 and December 31, 2014. (in thousands) September 30, 2015 December 31, 2014 Commercial and industrial $ 5,769 $ 1,381 Construction and development, excluding undeveloped land 26 516 Undeveloped land - - Real estate mortgage Commercial investment 285 235 Owner occupied commercial 3,035 2,081 1-4 family residential 316 950 Home equity - first lien 91 - Home equity - junior lien 37 36 Subtotal: Real estate mortgage 3,764 3,302 Consumer 15 - Total $ 9,574 $ 5,199 Bancorp had no loans accounted for as TDR that were restructured and subsequently experienced a payment default within the previous 12 months as of September 30, 2015 or 2014. Loans accounted for as TDR include modifications from original terms such as those due to bankruptcy proceedings, certain modifications of amortization periods or extended suspension of principal payments due to customer financial difficulties. Loans accounted for as TDR, which have not defaulted, are individually evaluated for impairment and, at September 30, 2015, had a total allowance allocation of $188 thousand, compared to $703 thousand at December 31, 2014. At September 30, 2015, Bancorp did not have any outstanding commitments to lend additional funds to borrowers whose loans have been modified as TDR, compared to $458 thousand at December 31, 2014. The following table presents the aging of the recorded investment in loans as of September 30, 2015 and December 31, 2014. Recorded (in thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and September 30, 2015 past due past due non-accrual) past due Current loans accruing Commercial and industrial $ 26 $ 25 $ 5,769 $ 5,820 $ 605,057 $ 610,877 $ - Construction and development, excluding undeveloped land - - 26 26 109,844 109,870 - Undeveloped land - - - - 18,950 18,950 - Real estate mortgage Commercial investment 427 - 285 712 490,459 491,171 - Owner occupied commercial 268 114 3,035 3,417 354,211 357,628 - 1-4 family residential 814 734 860 2,408 220,235 222,643 544 Home equity - first lien 17 72 91 180 49,757 49,937 - Home equity - junior lien 62 126 37 225 61,998 62,223 - Subtotal: Real estate mortgage 1,588 1,046 4,308 6,942 1,176,660 1,183,602 544 Consumer 36 - 15 51 31,075 31,126 - Total $ 1,650 $ 1,071 $ 10,118 $ 12,839 $ 1,941,586 $ 1,954,425 $ 544 December 31, 2014 Commercial and industrial $ 3,860 $ 3 $ 1,382 $ 5,245 $ 566,509 $ 571,754 $ 1 Construction and development, excluding undeveloped land 69 - 757 826 94,907 95,733 241 Undeveloped land - - - - 21,268 21,268 - Real estate mortgage Commercial investment 993 249 235 1,477 486,345 487,822 - Owner occupied commercial 1,272 920 2,081 4,273 336,709 340,982 - 1-4 family residential 1,801 285 1,023 3,109 208,439 211,548 73 Home equity - first lien - - 14 14 43,765 43,779 14 Home equity - junior lien 470 78 36 584 65,684 66,268 Subtotal: Real estate mortgage 4,536 1,532 3,389 9,457 1,140,942 1,150,399 87 Consumer 43 18 - 61 29,335 29,396 - Total $ 8,508 $ 1,553 $ 5,528 $ 15,589 $ 1,852,961 $ 1,868,550 $ 329 Consistent with regulatory guidance, Bancorp categorizes loans into credit risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends. Pass-rated loans include all risk-rated loans other than those classified as special mention, substandard, substandard non-performing and doubtful, which are defined below: ● Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. These potential weaknesses may result in deterioration of repayment prospects for the loan or of Bancorp’s credit position at some future date. ● Substandard: Loans classified as substandard are inadequately protected by the paying capacity of the obligor or of collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize repayment of the debt. They are characterized by the distinct possibility that Bancorp will sustain some loss if the deficiencies are not corrected. ● Substandard non-performing: Loans classified as substandard non-performing have all the characteristics of substandard loans and have been placed on non-accrual status or have been accounted for as troubled debt restructurings. ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of September 30, 2015 and December 31, 2014, the internally assigned risk grades of loans by category were as follows: (in thousands) Special Substandard Total September 30, 2015 Pass mention Substandard non-performing Doubtful loans Commercial and industrial $ 591,923 $ 9,946 $ 2,230 $ 6,778 $ - $ 610,877 Construction and development, excluding undeveloped land 106,558 2,945 341 26 - 109,870 Undeveloped land 18,273 520 157 - - 18,950 Real estate mortgage Commercial investment 484,638 5,755 493 285 - 491,171 Owner occupied commercial 340,032 12,038 2,523 3,035 - 357,628 1-4 family residential 220,287 1,496 - 860 - 222,643 Home equity - first lien 49,846 - - 91 - 49,937 Home equity - junior lien 61,968 97 121 37 - 62,223 Subtotal: Real estate mortgage 1,156,771 19,386 3,137 4,308 - 1,183,602 Consumer 31,041 - - 85 - 31,126 Total $ 1,904,566 $ 32,797 $ 5,865 $ 11,197 $ - $ 1,954,425 December 31, 2014 Commercial and industrial $ 546,582 $ 6,215 $ 11,717 $ 7,240 $ - $ 571,754 Construction and development, excluding undeveloped land 88,389 4,867 1,720 757 - 95,733 Undeveloped land 20,578 530 160 - - 21,268 Real estate mortgage Commercial investment 482,415 4,991 181 235 - 487,822 Owner occupied commercial 328,385 6,942 3,156 2,499 - 340,982 1-4 family residential 209,396 1,129 - 1,023 - 211,548 Home equity - first lien 43,765 - - 14 - 43,779 Home equity - junior lien 66,182 50 - 36 - 66,268 Subtotal: Real estate mortgage 1,130,143 13,112 3,337 3,807 - 1,150,399 Consumer 29,244 76 - 76 - 29,396 Total $ 1,814,936 $ 24,800 $ 16,934 $ 11,880 $ - $ 1,868,550 |
Note 4 - Securities Sold Under
Note 4 - Securities Sold Under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2015 | |
Securities Sold under Agreements to Repurchase [Abstract] | |
Securities Sold Under Agreements To Repurchase [Text Block] | (4) Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase, which represent excess funds from commercial customers as part of a cash management service, totaled $67.6 million and $69.6 million at September 30, 2015 and December 31, 2014, respectively. Bancorp enters into sales of securities under agreement to repurchase at a specified future date. At September 30, 2015, all of these financing arrangements had overnight maturities and were secured by government sponsored enterprise obligations and government agency mortgage-backed securities which were owned and under the control of Bancorp. |
Note 5 - Federal Home Loan Bank
Note 5 - Federal Home Loan Bank Advances | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | (5) Federal Home Loan Bank Advances Bancorp had outstanding borrowings of $43.7 million and $36.8 million at September 30, 2015 and December 31, 2014, respectively, via twelve separate fixed-rate advances. For two advances totaling $30 million, both of which are non-callable, interest payments are due monthly, with principal due at maturity. For the remaining advances totaling $13.7 million, principal and interest payments are due monthly based on an amortization schedule. The following is a summary of the contractual maturities and average effective rates of outstanding advances: (In thousands) September 30, 2015 December 31, 2014 Advance Rate Advance Rate 2015 $ 30,000 2.33 % $ 30,000 2.30 % 2020 1,850 2.23 % 1,885 2.23 % 2021 446 2.12 % 497 2.12 % 2024 2,916 2.36 % 3,064 2.36 % 2025 7,132 2.44 % - - 2028 1,355 1.47 % 1,386 1.47 % $ 43,699 2.32 % $ 36,832 2.27 % Advances from the FHLB are collateralized by certain commercial and residential real estate mortgage loans totaling $568.9 million under a blanket mortgage collateral agreement and FHLB stock. Bancorp believes these borrowings to be an effective alternative to higher cost time deposits to manage interest rate risk associated with long-term fixed rate loans. At September 30, 2015, the amount of available credit from the FHLB totaled $408.1 million. |
Note 6 - Derivative Financial I
Note 6 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | (6) Derivative Financial Instruments Occasionally, Bancorp enters into free-standing interest rate swaps for the benefit of its commercial customers who desire to hedge their exposure to changing interest rates. Bancorp offsets its interest rate exposure on these transactions by entering into offsetting swap agreements with substantially matching terms with approved reputable independent counterparties. These undesignated derivative instruments are recognized on the consolidated balance sheet at fair value. Because of matching terms of offsetting contracts and collateral provisions mitigating any non-performance risk, changes in fair value subsequent to initial recognition are expected to have an insignificant effect on earnings. Exchanges of cash flows related to undesignated interest rate swap agreements for the first nine months of 2015 were offsetting and therefore had no net effect on Bancorp’s earnings or cash flows. Interest rate swap agreements derive their value from underlying interest rates. These transactions involve both credit and market risk. Notional amounts are amounts on which calculations, payments, and the value of the derivative are based. Notional amounts do not represent direct credit exposures. Direct credit exposure is limited to the net difference between the calculated amounts to be received and paid, if any. Bancorp is exposed to credit-related losses in the event of nonperformance by counterparties to these agreements. Bancorp mitigates the credit risk of its financial contracts through credit approvals, limits and monitoring procedures, and does not expect any counterparties to fail their obligations. At September 30, 2015 and December 31, 2014, Bancorp had outstanding undesignated interest rate swap contracts as follows: (dollar amounts in thousands) Receiving Paying September 30, December 31, September 30, December 31, 2015 2014 2015 2014 Notional amount $ 8,192 $ 7,217 $ 8,192 $ 7,217 Weighted average maturity (years) 6.8 6.8 6.8 6.8 Fair value $ (487 ) $ (401 ) $ 487 $ 401 In 2013, Bancorp entered into an interest rate swap to hedge cash flows of a $10 million rolling fixed-rate three-month FHLB borrowing. The swap began December 6, 2013 and ends December 6, 2016. In the third quarter of 2015, Bancorp entered into a forward starting interest rate swap to hedge cash flows of a $20 million rolling fixed-rate three-month FHLB borrowing. The start of this borrowing strategy coincides with the maturity and refinance of a current $20 million advance included in Note 5. The swap begins December 9, 2015 and matures December 6, 2020. For purposes of hedging, the rolling fixed rate advances are considered to be floating rate liabilities. The interest rate swaps involve exchange of Bancorp’s floating rate interest payments for fixed rate swap payments on underlying principal amounts. These swaps were designated, and qualified, for cash-flow hedge accounting. For derivative instruments that are designated and qualify as cash flow hedging instruments, the effective portion of gains or losses is reported as a component of other comprehensive income, and is subsequently reclassified into earnings as an adjustment to interest expense in periods in which the hedged forecasted transaction affects earnings. The following table details Bancorp’s derivative position designated as a cash flow hedge, and the fair values as of September 30, 2015 and December 31, 2014. (dollars in thousands) Notional Maturity Receive (variable) Pay fixed Fair value Fair value amount date index swap rate September 30, 2015 December 31, 2014 $ 10,000 12/6/2016 US 3 Month LIBOR 0.715 % $ (21 ) $ 24 20,000 12/6/2020 US 3 Month LIBOR 1.790 % (340 ) NA $ 30,000 1.432 % $ (361 ) $ 24 |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | (7) Goodwill and Intangible Assets US GAAP requires that goodwill and intangible assets with indefinite useful lives not be amortized, but instead be tested for impairment at least annually. Annual evaluations have resulted in no indication of impairment. Bancorp currently has goodwill in the amount of $682 thousand from the 1996 acquisition of an Indiana bank. This goodwill is assigned to the commercial banking segment of Bancorp. In 2013, Bancorp completed the acquisition of THE BANCorp, Inc., parent company of THE BANK – Oldham County, Inc. As a result, Bancorp recorded a core deposit intangible totaling $2.5 million which is being amortized over the expected life of the underlying deposits to which the intangible is attributable. For money market, savings and interest bearing checking accounts, this intangible asset is being amortized using a straight line method over 15 years. For the remainder of deposits, it is being amortized over a 10-year period using an accelerated method which anticipates the life of the underlying deposits. At September 30, 2015, the unamortized core deposit intangible was $1.7 million. Mortgage servicing rights (MSRs) are initially recognized at fair value when mortgage loans are sold with servicing retained. The MSRs are amortized in proportion to and over the period of estimated net servicing income, considering appropriate prepayment assumptions. MSRs are evaluated quarterly for impairment by comparing carrying value to fair value. Estimated fair values of MSRs at September 30, 2015 and December 31, 2014 were $2.5 million and $3.4 million, respectively. Total outstanding principal balances of loans serviced for others were $413.5 million and $421.1 million at September 30, 2015, and December 31, 2014, respectively. Changes in the net carrying amount of MSRs for the nine months ended September 30, 2015 and 2014 are shown in the following table: For nine months ended September 30, (in thousands) 2015 2014 Balance at beginning of period $ 1,131 $ 1,832 Additions for mortgage loans sold 306 197 Amortization (569 ) (713 ) Balance at September 30 $ 868 $ 1,316 |
Note 8 - Defined Benefit Retire
Note 8 - Defined Benefit Retirement Plan | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | (8) Defined Benefit Retirement Plan Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for three key officers (two current and one retired), and has no plans to increase the number of or benefits to participants. Benefits vest based on 25 years of service. The retired officer and one current officer are fully vested, and one current officer will be fully vested in 2017. Actuarially determined pension costs are expensed and accrued over the service period, and benefits are paid from Bancorp’s assets. Net periodic benefits costs, which include interest cost and amortization of net losses, totaled $36 thousand and $32 thousand, for the three months ended September 30, 2015 and 2014, respectively. For the nine months ended September 30, 2015 and 2014, the net periodic benefit costs totaled $107 thousand and $95 thousand, respectively. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | (9) Commitments and Contingent Liabilities As of September 30, 2015, Bancorp had various commitments outstanding that arose in the normal course of business, including standby letters of credit and commitments to extend credit, which are properly not reflected in the consolidated financial statements. In management’s opinion, commitments to extend credit of $574.6 million including standby letters of credit of $11.0 million represent normal banking transactions. Commitments to extend credit were $463.0 million, including letters of credit of $11.0 million, as of December 31, 2014. Commitments to extend credit are agreements to lend to a customer as long as collateral is available and there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Commitments to extend credit are mainly comprised of commercial lines of credit, construction and home equity credit lines and credit cards issued to commercial customers. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Bancorp uses the same credit and collateral policies in making commitments and conditional guarantees as for on-balance sheet instruments. Bancorp evaluates each customer’s creditworthiness on a case by case basis. The amount of collateral obtained is based on management’s credit evaluation of the customer. Collateral held varies but may include accounts receivable, inventory, equipment, and real estate. However, should the commitments be drawn upon and should our customers default on their resulting obligation to us, our maximum exposure to credit loss, without consideration of collateral, is represented by the contractual amount of those instruments. At September 30, 2015, Bancorp has accrued $372 thousand in other liabilities for inherent risks related to unfunded credit commitments. Standby letters of credit and financial guarantees written are conditional commitments issued by Bancorp to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support private commercial transactions. Standby letters of credit generally have maturities of one to two years. Also, as of September 30, 2015, in the normal course of business, there were pending legal actions and proceedings in which claims for damages are asserted. Management, after discussion with legal counsel, believes the ultimate result of these legal actions and proceedings will not have a material adverse effect on the consolidated financial position or results of operations of Bancorp. |
Note 10 - Preferred Stock
Note 10 - Preferred Stock | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Preferred Stock [Text Block] | (10) Preferred Stock Bancorp has a class of preferred stock (no par value; 1,000,000 shares authorized), the relative rights, preferences and other terms of which or any series within the class will be determined by the Board of Directors prior to any issuance. None of this stock has been issued to date. |
Note 11 - Stock-Based Compensat
Note 11 - Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (11) Stock-Based Compensation The fair value of all awards granted, net of estimated forfeitures, is recognized as compensation expense over the respective service period. Bancorp currently has one stock-based compensation plan. At Bancorp's 2015 Annual Meeting of Shareholders, shareholders approved the 2015 Omnibus Equity Compensation Plan and authorized the shares available from the 2005 plan for future awards under the 2015 plan. No additional shares were made available. As of September 30, 2015, there were 362,985 shares available for future awards. The 2005 Stock Incentive Plan expired in April 2015; however, options and SARs granted under this plan expire as late as 2025. Options, which have not been granted since 2007, generally had a vesting schedule of 20% per year. Stock appreciation rights (“SARs”) granted have a vesting schedule of 20% per year. Options and SARs expire ten years after the grant date unless forfeited due to employment termination. Restricted shares granted to officers vest over five years. All restricted shares have been granted at a price equal to the market value of common stock at the time of grant. For all grants prior to 2015, grantees are entitled to dividend payments during the vesting period. For grants in 2015, forfeitable dividends are deferred until shares are vested. Fair value of restricted shares is equal to the market value of the shares on the date of grant. Grants of performance stock units (“PSUs”) vest based upon service and a single three-year performance period which begins January 1 of the first year of the performance period. Because grantees are not entitled to dividend payments during the performance period, fair value of these PSUs is estimated based upon fair value of underlying shares on the date of grant, adjusted for non-payment of dividends. Grants of restricted stock units (“RSUs”) to directors are time-based and vest 12 months after grant date. Because grantees are entitled to deferred dividend payments at the end of the vesting period, fair value of the RSUs is estimated based on fair value of underlying shares on the date of grant. Bancorp has recognized stock-based compensation expense, within salaries and employee benefits for employees, and within other non-interest expense for directors, in the consolidated statements of income as follows: For three months ended For nine months ended (in thousands) September 30, September 30, 2015 2014 2015 2014 Stock-based compensation expense before income taxes $ 566 $ 691 $ 1,561 $ 1,459 Less: deferred tax benefit (198 ) (242 ) (546 ) (510 ) Reduction of net income $ 368 $ 449 $ 1,015 $ 949 Bancorp expects to record an additional $514 thousand of stock-based compensation expense in 2015 for equity grants outstanding as of September 30, 2015. As of September 30, 2015, Bancorp has $4.1 million of unrecognized stock-based compensation expense that is expected to be recorded as compensation expense over the next five years as awards vest. Bancorp received cash of $2.0 million and $1.4 million from the exercise of options during the first nine months of 2015 and 2014, respectively. Fair values of Bancorp’s stock options and SARs are estimated at the date of grant using the Black-Scholes option pricing model, a leading formula for calculating the value of stock options and SARs. This model requires the input of assumptions, changes to which can materially affect the fair value estimate. Fair value of restricted shares is determined by Bancorp’s closing stock price on the date of grant. The following assumptions were used in SAR valuations at the grant date in each year: 2015 2014 Dividend yield 2.97 % 2.94 % Expected volatility 22.81 % 23.66 % Risk free interest rate 1.91 % 2.22 % Expected life of SARs (in years) 7.5 7.0 Dividend yield and expected volatility are based on historical information for Bancorp corresponding to the expected life of options and SARs granted. Expected volatility is the volatility of the underlying shares for the expected term on a monthly basis. The risk free interest rate is the implied yield currently available on U.S. Treasury issues with a remaining term equal to the expected life of the options. The expected life of SARs is based on actual experience of past like-term SARs and options. Bancorp evaluates historical exercise and post-vesting termination behavior when determining the expected life. A summary of stock option and SARs activity and related information for the nine months ended September 30, 2015 follows: Weighted Weighted Aggregate Weighted average Options average intrinsic average remaining and SARs Exercise exercise value fair contractual (in thousands) price price (in thousands) value life (in years) At December 31, 2014 Vested and exercisable 524 $ 21.03 - 26.83 $ 23.84 $ 4,981 $ 5.35 3.5 Unvested 194 21.03 - 29.16 24.83 1,650 4.57 7.7 Total outstanding 718 21.03 - 29.16 24.11 6,631 5.14 4.6 Granted 50 34.43 - 36.83 34.48 76 5.95 Exercised (102 ) 21.03 - 26.83 24.22 1,186 5.72 Forfeited - - - - - At September 30, 2015 Vested and exercisable 489 21.03 - 29.16 24.38 5,974 5.17 3.6 Unvested 177 22.86 - 36.83 27.99 1,411 4.93 7.9 Total outstanding 666 21.03 - 36.83 26.19 $ 7,385 5.11 4.7 Vested year-to-date 67 21.03 - 29.16 23.77 $ 817 4.65 Intrinsic value for stock options and SARs is defined as the amount by which the current market price of the underlying stock exceeds the exercise or grant price. For the periods ending December 31, 2014 and September 30, 2015, Bancorp granted shares of restricted common stock as outlined in the following table: Grant date weighted- Number average cost Unvested at December 31, 2013 124,556 $ 22.77 Shares awarded 39,730 29.12 Restrictions lapsed and shares released to employees/directors (44,724 ) 22.69 Shares forfeited (5,469 ) 23.77 Unvested at December 31, 2014 114,093 $ 24.95 Shares awarded 34,990 34.43 Restrictions lapsed and shares released to employees/directors (40,510 ) 23.84 Shares forfeited (3,766 ) 28.11 Unvested at September 30, 2015 104,807 $ 28.44 Bancorp awarded performance-based restricted stock units (“PSUs”) to executive officers of Bancorp, the single three-year performance period for which began January 1 of the award year. The following table outlines the PSU grants. Vesting Expected Grant period Fair shares to year in years value be awarded 2013 3 $ 20.38 36,792 2014 3 26.42 29,181 2015 3 31.54 19,774 In the first quarter of 2015, Bancorp awarded 6,080 RSUs to directors of Bancorp with a grant date fair value of $200 thousand. In the second quarter of 2015, 760 RSUs were cancelled, leaving 5,320 RSUs outstanding with a grant date fair value of $175 thousand. |
Note 12 - Net Income Per Share
Note 12 - Net Income Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | (12) Net Income Per Share The following table reflects, for the three and nine months ended September 30, 2015 and 2014, net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations: Three months ended Nine months ended (In thousands, except per share data) September 30 September 30 2015 2014 2015 2014 Net income $ 9,284 $ 9,889 $ 27,541 $ 26,100 Average shares outstanding 14,754 14,574 14,704 14,542 Dilutive securities 232 174 236 190 Average shares outstanding including dilutive securities including dilutive securities 14,986 14,748 14,940 14,732 Net income per share, basic $ 0.63 $ 0.68 $ 1.87 $ 1.79 Net income per share, diluted $ 0.62 $ 0.67 $ 1.84 $ 1.77 |
Note 13 - Segments
Note 13 - Segments | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | (13) Segments Bancorp’s principal activities include commercial banking and investment management and trust. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage origination and securities brokerage activity. Investment management and trust provides wealth management services including investment management, trust and estate administration, and retirement plan services. Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision for loan losses have been allocated to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not necessarily comparable with similar information for any other financial institution. Information presented is also not necessarily indicative of the segments’ operations if they were independent entities. Selected financial information by business segment for the three and nine month periods ended September 30, 2015 and 2014 follows: Investment Commercial management (in thousands) banking and trust Total Three months ended September 30, 2015 Net interest income $ 22,034 $ 47 $ 22,081 Provision for loan losses - - - Investment management and trust services - 4,373 4,373 All other non-interest income 5,612 - 5,612 Non-interest expense 15,785 2,645 18,430 Income before income taxes 11,861 1,775 13,636 Tax expense 3,720 632 4,352 Net income $ 8,141 $ 1,143 $ 9,284 Three months ended September 30, 2014 Net interest income $ 21,317 $ 46 $ 21,363 Provision (credit) for loan losses (2,100 ) - (2,100 ) Investment management and trust services - 4,502 4,502 All other non-interest income 5,348 - 5,348 Non-interest expense 15,971 2,738 18,709 Income before income taxes 12,794 1,810 14,604 Tax expense 4,071 644 4,715 Net income $ 8,723 $ 1,166 $ 9,889 Investment Commercial management (in thousands) banking and trust Total Nine months ended September 30, 2015 Net interest income $ 65,350 $ 146 $ 65,496 Provision for loan losses - - - Investment management and trust services - 13,576 13,576 All other non-interest income 16,301 - 16,301 Non-interest expense 46,991 8,085 55,076 Income before income taxes 34,660 5,637 40,297 Tax expense 10,749 2,007 12,756 Net income $ 23,911 $ 3,630 $ 27,541 Nine months ended September 30, 2014 Net interest income $ 62,110 $ 136 $ 62,246 Provision (credit) for loan losses (400 ) - (400 ) Investment management and trust services - 13,825 13,825 All other non-interest income 15,527 30 15,557 Non-interest expense 46,036 7,918 53,954 Income before income taxes 32,001 6,073 38,074 Tax expense 9,814 2,160 11,974 Net income $ 22,187 $ 3,913 $ 26,100 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | (14) Income Taxes An analysis of the difference between statutory and effective tax rates for the nine months ended September 30, 2015 and 2014 follows: Nine months ended September 30 2015 2014 U.S. federal statutory tax rate 35.0 % 35.0 % Tax exempt interest income (1.4 ) (1.5 ) Tax credits (2.4 ) (1.5 ) Cash surrender value of life insurance (0.6 ) (1.3 ) State income taxes, net of federal benefit 0.8 0.9 Other, net 0.3 (0.2 ) Effective tax rate 31.7 % 31.4 % State income tax expense represents tax owed in Indiana. Kentucky and Ohio state bank taxes are based on capital levels, and are recorded as other non-interest expense. US GAAP provides guidance on financial statement recognition and measurement of tax positions taken, or expected to be taken, in tax returns. As of September 30, 2015 and December 31, 2014, the gross amount of unrecognized tax benefits, including penalties and interest, was $51 thousand and $42 thousand, respectively. If recognized, tax benefits would reduce tax expense and accordingly, increase net income. The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current year tax positions, expiration of open income tax returns due to statutes of limitation, changes in management’s judgment about the level of uncertainty, status of examination, litigation and legislative activity and addition or elimination of uncertain tax positions. Federal and state income tax returns are subject to examination for the years after 2011. |
Note 15 - Assets and Liabilitie
Note 15 - Assets and Liabilities Measured and Reported at Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | (15) Assets and Liabilities Measured and Reported at Fair Value Bancorp follows the provisions of authoritative guidance for fair value measurements. This guidance is definitional and disclosure oriented and addresses how companies should approach measuring fair value when required by US GAAP. The guidance also prescribes various disclosures about financial statement categories and amounts which are measured at fair value, if such disclosures are not already specified elsewhere in US GAAP. Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date. The guidance also establishes a hierarchy to group assets and liabilities carried at fair value in three levels based upon the markets in which the assets and liabilities trade and the reliability of assumptions used to determine fair value. These levels are: ● Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets. ● Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. ● Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions would reflect internal estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques could include pricing models, discounted cash flows and other similar techniques. Authoritative guidance requires maximization of use of observable inputs and minimization of use of unobservable inputs in fair value measurements. Where there exists limited or no observable market data, Bancorp derives its own estimates by generally considering characteristics of the asset/liability, the current economic and competitive environment and other factors. For this reason, results cannot be determined with precision and may not be realized on an actual sale or immediate settlement of the asset or liability. Bancorp’s investment securities available-for-sale and interest rate swaps are recorded at fair value on a recurring basis. Other accounts including mortgage servicing rights, impaired loans and other real estate owned may be recorded at fair value on a non-recurring basis, generally in the application of lower of cost or market adjustments or write-downs of specific assets. The portfolio of investment securities available-for-sale is comprised of U.S. Treasury and other U.S. government obligations, debt securities of U.S. government-sponsored corporations (including mortgage-backed securities), obligations of state and political subdivisions and corporate equity securities. U.S. Treasury and corporate equity securities are priced using quoted prices of identical securities in an active market. These measurements are classified as Level 1 in the hierarchy above. All other securities are priced using standard industry models or matrices with various assumptions such as yield curves, volatility, prepayment speeds, default rates, time value, credit rating and market prices for similar instruments. These assumptions are generally observable in the market place and can be derived from or supported by observable data. These measurements are classified as Level 2 in the hierarchy above. Interest rate swaps are valued using primarily Level 2 inputs. Fair value measurements generally based on benchmark forward yield curves and other relevant observable market data. For purposes of potential valuation adjustments to derivative positions, Bancorp evaluates the credit risk of its counterparties as well as its own credit risk. To date, Bancorp has not realized any losses due to a counterparty’s inability to perform and the change in value of derivative assets and liabilities attributable to credit risk was not significant during 2015. Below are the carrying values of assets measured at fair value on a recurring basis. (in thousands) Fair value at September 30, 2015 Total Level 1 Level 2 Level 3 Assets Investment securities available for sale U.S. Treasury and other U.S. government obligations $ 100,000 $ 100,000 $ - $ - Government sponsored enterprise obligations 186,810 - 186,810 - Mortgage-backed securities - government agencies 154,347 - 154,347 - Obligations of states and political subdivisions 62,508 - 62,508 - Corporate equity securities 701 701 - - Total investment securities available for sale 504,366 100,701 403,665 - Interest rate swaps 487 - 487 - Total assets $ 504,853 $ 100,701 $ 404,152 $ - Liabilities Interest rate swaps $ 848 $ - $ 848 $ - (in thousands) Fair value at December 31, 2014 Total Level 1 Level 2 Level 3 Assets Investment securities available for sale U.S. Treasury and other U.S. government obligations $ 70,000 $ 70,000 $ - $ - Government sponsored enterprise obligations 204,986 - 204,986 - Mortgage-backed securities - government agencies 174,270 - 174,270 - Obligations of states and political subdivisions 62,834 - 62,834 - Corporate equity securities 966 966 - - Total investment securities available for sale 513,056 70,966 442,090 - Interest rate swaps 425 - 425 - Total assets $ 513,481 $ 70,966 $ 442,515 $ - Liabilities Interest rate swaps $ 401 $ - $ 401 $ - Bancorp did not have any financial instruments classified within Level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis at September 30, 2015 or December 31, 2014. MSRs are recorded at fair value upon capitalization, are amortized to correspond with estimated servicing income, and are periodically assessed for impairment based on fair value at the reporting date. Fair value is based on a valuation model that calculates the present value of estimated net servicing income. The model incorporates assumptions that market participants would use in estimating future net servicing income. These measurements are classified as Level 3. At September 30, 2015 and December 31, 2014 there was no valuation allowance for the mortgage servicing rights, as the fair value exceeded the cost. Accordingly, the MSRs are not included in either table below for September 30, 2015 or December 31, 2014. See Note 7 for more information regarding MSRs. For impaired loans in the table below, fair value is calculated as the carrying value of only loans with a specific valuation allowance, less the specific allowance. Fair value of impaired loans was primarily measured based on the value of the collateral securing these loans. Impaired loans are classified within Level 3 of the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory, and/or accounts receivable. Bancorp determines the value of collateral based on independent appraisals performed by qualified licensed appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised values are discounted for costs to sell and may be discounted further based on management’s historical knowledge, changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts by management are subjective and are typically significant unobservable inputs for determining fair value. As of September 30, 2015, total impaired loans with a valuation allowance were $6.7 million, and the specific allowance totaled $1.6 million, resulting in a fair value of $5.1 million, compared to total impaired loans with a valuation allowance of $7.8 million, and the specific allowance allocation totaling $1.4 million, resulting in a fair value of $6.4 million at December 31, 2014. Losses represent the change in the specific allowances for the period indicated. Other real estate owned (“OREO”), which is carried at the lower of cost or fair value, is periodically assessed for impairment based on fair value at the reporting date. Fair value is based on appraisals performed by external parties which use judgments and assumptions that are property-specific and sensitive to changes in the overall economic environment. Appraisals may be further discounted based on management’s historical knowledge and/or changes in market conditions from the date of the most recent appraisal. Many of these inputs are not observable and, accordingly, these measurements are classified as Level 3. For OREO in the table below, the fair value is the carrying value of only parcels of OREO which have a carrying value equal to appraised value. Losses represent write-downs which occurred during the period indicated. At September 30, 2015 and December 31, 2014, the carrying value of all other real estate owned was $4.6 million and $6.0 million, respectively. Below are the carrying values of assets measured at fair value on a non-recurring basis. (in thousands) Fair value at September 30, 2015 Losses for 9 month period ended Total Level 1 Level 2 Level 3 September 30, 2015 Impaired loans $ 5,132 $ - $ - $ 5,132 $ (1,147 ) Other real estate owned 3,569 - - 3,569 - Total $ 8,701 $ - $ - $ 8,701 $ (1,147 ) (in thousands) Fair value at December 31, 2014 Losses for 9 month period ended Total Level 1 Level 2 Level 3 September 30, 2014 Impaired loans $ 6,449 $ - $ - $ 6,449 $ (1,148 ) Other real estate owned 5,032 - - 5,032 (25 ) Total $ 11,481 $ - $ - $ 11,481 $ (1,173 ) For the securities portfolio, Bancorp monitors the valuation technique utilized by pricing agencies to ascertain when transfers between levels have occurred. The nature of other assets and liabilities measured at fair value is such that transfers in and out of any level are expected to be rare. For the three months ended September 30, 2015, there were no transfers between Levels 1, 2, or 3. For Level 3 assets measured at fair value on a non-recurring basis as of September 30, 2015, the significant unobservable inputs used in the fair value measurements are presented below. Significant Weighted Fair Valuation unobservable average of (Dollars in thousands) Value technique input input Impaired loans - collateral dependent $ 5,132 Appraisal Appraisal discounts (%) 6.4 % Other real estate owned 3,569 Appraisal Appraisal discounts 14.6 |
Note 16 - Disclosure of Financi
Note 16 - Disclosure of Financial Instruments Not Reported at Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | (16) Disclosure of Financial Instruments Not Reported at Fair Value US GAAP requires disclosure of the fair value of financial assets and liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. Carrying amounts, estimated fair values, and placement in the fair value hierarchy of Bancorp’s financial instruments are as follows: (in thousands) Carrying September 30, 2015 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 55,194 $ 55,194 $ 55,194 $ - $ - Mortgage loans held for sale 5,539 5,678 - 5,678 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 1,932,811 1,935,651 - - 1,935,651 Accrued interest receivable 6,058 6,058 6,058 - - Financial liabilities Deposits 2,141,578 2,141,926 - 2,141,926 - Short-term borrowings 129,658 129,658 - 129,658 - FHLB advances 43,699 43,961 - 43,961 - Accrued interest payable 126 126 126 - - (in thousands) Carrying December 31, 2014 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 74,241 $ 74,241 $ 74,241 $ - $ - Mortgage loans held for sale 3,747 3,876 - 3,876 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 1,843,630 1,863,568 - - 1,863,568 Accrued interest receivable 5,980 5,980 5,980 - - Financial liabilities Deposits 2,123,627 2,124,904 - 2,124,904 - Short-term borrowings 116,949 116,949 - 116,949 - FHLB advances 36,832 37,714 - 37,714 - Accrued interest payable 131 131 131 - - Management used the following methods and assumptions to estimate the fair value of each class of financial instrument for which it is practicable to estimate the value. Cash, short-term investments, accrued interest receivable/payable and short-term borrowings For these short-term instruments, carrying amount is a reasonable estimate of fair value. Federal Home Loan Bank stock and other securities For these securities without readily available market values, carrying amount is a reasonable estimate of fair value as it equals the amount due from FHLB or other issuer at upon redemption. Mortgage loans held for sale Mortgage loans held for sale are initially recorded at the lower of cost or market value. The portfolio is comprised of residential real estate loans and fair value is determined by market quotes for similar loans based on loan type, term, rate, size and the borrower’s credit score. Loans, net US GAAP prescribes the exit price concept for estimating fair value of loans. Because there is not an active market (exit price) for trading virtually all types of loans in Bancorp’s portfolio, fair value of loans is estimated by discounting future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities (entrance price). Deposits Fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. Fair value of fixed-rate certificates of deposits is estimated by discounting future cash flows using the rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank advances Fair value of FHLB advances is estimated by discounting future cash flows using estimates of current market rate for instruments with similar terms and remaining maturities. Commitments to extend credit and standby letters of credit Fair values of commitments to extend credit are estimated using fees currently charged to enter into similar agreements and creditworthiness of customers. Fair values of standby letters of credit are based on fees currently charged for similar agreements or estimated cost to terminate them or otherwise settle obligations with counterparties at the reporting date. Fair value of commitments to extend credit, letters of credit and lines of credit is not presented since management believes the fair value to be insignificant. Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no market exists for a significant portion of Bancorp’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Therefore, calculated fair value estimates in many instances cannot be substantiated by comparison to independent markets and, in many cases, may not be realizable in a current sale of the instrument. Changes in assumptions could significantly affect estimates. |
Note 17 - Regulatory Matters
Note 17 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | (17) Regulatory Matters Bancorp and the Bank are subject to various capital requirements prescribed by banking regulations and administered by state and federal banking agencies. Under these requirements, Bancorp and the Bank must meet minimum amounts and percentages of Tier 1, common equity Tier 1, and total capital, as defined, to risk weighted assets and Tier 1 capital to average assets. Risk weighted assets are determined by applying certain risk weightings prescribed by the regulations to various categories of assets and off-balance sheet commitments. Capital and risk weighted assets may be further subject to qualitative judgments by regulators as to components, risk weighting and other factors. Failure to meet the capital requirements can result in certain mandatory, and possibly discretionary, corrective actions prescribed by the regulations or determined to be necessary by the regulators, which could materially affect the unaudited consolidated financial statements. In 2013, the Federal Reserve Board and the FDIC approved rules that substantially amended the regulatory risk-based capital rules applicable to Bancorp and Bank. The rules implemented the regulatory capital reforms of the Basel Committee on Banking Supervision reflected in "Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems" (Basel III) and changes required by the Dodd-Frank Act. The Basel III regulatory capital reforms became effective for Bancorp and Bank on January 1, 2015, and include new minimum risk-based capital and leverage ratios. Capital ratios for December 31, 2014 were calculated using the former rules and for September 30, 2015 ratios were calculated using the new Basel III rules. For Bancorp, key differences under Basel III include risk weighting for loan commitments under one year and higher risk weighting for certain commercial real estate and construction loans. These differences resulted in higher risk-weighted assets, and therefore, somewhat lower risk-based capital ratios. Bancorp and the Bank met all capital requirements to which they were subject as of September 30, 2015. The following table sets forth consolidated Bancorp’s and the Bank’s risk based capital amounts and ratios as of September 30, 2015 and December 31, 2014. (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized September 30, 2015 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 298,667 13.68 % $ 174,659 8.00 % NA NA Bank 290,863 13.35 174,300 8.00 $ 217,875 10.00 % Common Equity Tier 1 risk-based capital (2) Consolidated 276,681 12.68 98,191 4.50 NA NA Bank 268,877 12.34 98,051 4.50 130,734 6.00 Tier 1 risk-based capital (1) Consolidated 276,681 12.68 130,922 6.00 NA NA Bank 268,877 12.34 130,734 6.00 130,734 6.00 Leverage (3) Consolidated 276,681 10.82 102,285 4.00 NA NA Bank 268,877 10.52 102,235 4.00 127,793 5.00 Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2014 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 280,228 13.86 % $ 161,748 8.00 % NA NA Bank 274,345 13.59 161,498 8.00 $ 201,873 10.00 % Tier 1 risk-based capital (1) Consolidated 255,308 12.63 80,858 4.00 NA NA Bank 249,425 12.36 80,720 4.00 121,080 6.00 Leverage (3) Consolidated 255,308 10.26 74,651 3.00 NA NA Bank 249,425 10.04 74,529 3.00 124,216 5.00 (1) Ratio is computed in relation to risk-weighted assets. (2) Ratio became effective January 2015. (3) Ratio is computed in relation to average assets. NA Not applicable. Regulatory framework does not define well capitalized for holding companies. |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (in thousands) Amortized Unrealized Fair September 30, 2015 cost Gains Losses value U.S. Treasury and other U.S. Government obligations $ 100,000 $ - $ - $ 100,000 Government sponsored enterprise obligations 184,258 2,746 194 186,810 Mortgage-backed securities - government agencies 152,552 2,564 769 154,347 Obligations of states and political subdivisions 61,067 1,482 41 62,508 Corporate equity securities 756 - 55 701 Total securities available for sale $ 498,633 $ 6,792 $ 1,059 $ 504,366 December 31, 2014 U.S. Treasury and other U.S. Government obligations $ 70,000 $ - $ - $ 70,000 Government sponsored enterprise obligations 203,531 2,017 562 204,986 Mortgage-backed securities - government agencies 173,573 2,042 1,345 174,270 Obligations of states and political subdivisions 61,416 1,560 142 62,834 Corporate equity securities 756 210 - 966 Total securities available for sale $ 509,276 $ 5,829 $ 2,049 $ 513,056 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (in thousands) Securities available-for-sale Amortized cost Fair value Due within 1 year $ 125,176 $ 125,348 Due after 1 but within 5 years 114,928 117,100 Due after 5 but within 10 years 15,694 15,992 Due after 10 years 89,527 90,878 Mortgage-backed securities 152,552 154,347 Corporate equity securities 756 701 Total securities available-for-sale $ 498,633 $ 504,366 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (in thousands) Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2015 value losses value losses value losses Government sponsored enterprise obligations $ 6,353 $ 8 $ 8,740 $ 186 $ 15,093 $ 194 Mortgage-backed securities - government agencies 12,929 129 31,734 640 44,663 769 Obligations of states and political subdivisions 7,817 25 2,232 16 10,049 41 Corporate equity securities 701 55 - - 701 55 Total temporarily impaired securities $ 27,800 $ 217 $ 42,706 $ 842 $ 70,506 $ 1,059 December 31, 2014 Government sponsored enterprise obligations $ 36,979 $ 30 $ 26,848 $ 532 $ 63,827 $ 562 Mortgage-backed securities - government agencies 4,038 77 49,325 1,268 53,363 1,345 Obligations of states and political subdivisions 12,655 67 6,297 75 18,952 142 Total temporarily impaired securities $ 53,672 $ 174 $ 82,470 $ 1,875 $ 136,142 $ 2,049 |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) September 30, 2015 December 31, 2014 Commercial and industrial $ 610,877 $ 571,754 Construction and development, excluding undeveloped land 109,870 95,733 Undeveloped land 18,950 21,268 Real estate mortgage: Commercial investment 491,171 487,822 Owner occupied commercial 357,628 340,982 1-4 family residential 222,643 211,548 Home equity - first lien 49,937 43,779 Home equity - junior lien 62,223 66,268 Subtotal: Real estate mortgage 1,183,602 1,150,399 Consumer 31,126 29,396 Total loans $ 1,954,425 $ 1,868,550 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate September 30, 2015 industrial land land mortgage Consumer Total Loans $ 610,877 $ 109,870 $ 18,950 $ 1,183,602 $ 31,126 $ 1,954,425 Loans collectively evaluated for impairment $ 604,021 $ 109,523 $ 18,950 $ 1,179,342 $ 31,041 $ 1,942,877 Loans individually evaluated for impairment $ 6,778 $ 26 $ - $ 3,764 $ 85 $ 10,653 Loans acquired with deteriorated credit quality $ 78 $ 321 $ - $ 496 $ - $ 895 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Unallocated Total Allowance for loan losses At December 31, 2014 $ 11,819 $ 721 $ 1,545 $ 10,541 $ 294 $ - $ 24,920 Provision (credit) (214 ) 599 (1,327 ) 844 98 - - Charge-offs (3,346 ) - - (688 ) (447 ) - (4,481 ) Recoveries 47 - 650 118 360 - 1,175 At September 30, 2015 $ 8,306 $ 1,320 $ 868 $ 10,815 $ 305 $ - $ 21,614 Allowance for loans collectively evaluated for impairment $ 7,089 $ 1,320 $ 868 $ 10,499 $ 235 $ - $ 20,011 Allowance for loans individually evaluated for impairment $ 1,217 $ - $ - $ 316 $ 70 $ - $ 1,603 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - (in thousands) Type of loan Construction and development Commercial excluding and undeveloped Undeveloped Real estate December 31, 2014 industrial land land mortgage Consumer Total Loans $ 571,754 $ 95,733 $ 21,268 $ 1,150,399 $ 29,396 $ 1,868,550 Loans collectively evaluated for impairment $ 564,443 $ 94,603 $ 21,268 $ 1,146,212 $ 29,311 $ 1,855,837 Loans individually evaluated for impairment $ 7,239 $ 516 $ - $ 3,720 $ 76 $ 11,551 Loans acquired with deteriorated credit quality $ 72 $ 614 $ - $ 467 $ 9 $ 1,162 Construction and development Commercial excluding and undeveloped Undeveloped Real estate industrial land land mortgage Consumer Unallocated Total Allowance for loan losses At December 31, 2013 $ 7,644 $ 2,555 $ 5,376 $ 12,604 $ 343 $ - $ 28,522 Provision (credit) 4,593 (1,584 ) (2,244 ) (1,190 ) 25 - (400 ) Charge-offs (661 ) (250 ) (1,753 ) (993 ) (587 ) - (4,244 ) Recoveries 243 - 166 120 513 - 1,042 At December 31, 2014 $ 11,819 $ 721 $ 1,545 $ 10,541 $ 294 $ - $ 24,920 Allowance for loans collectively evaluated for impairment $ 10,790 $ 706 $ 1,545 $ 10,285 $ 218 $ - $ 23,544 Allowance for loans individually evaluated for impairment $ 1,029 $ 15 $ - $ 256 $ 76 $ - $ 1,376 Allowance for loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - |
Schedule of Certain Loans Acquired in Transfer Not Accounted for As Debt Securities, Accretable Yield Movement [Table Text Block] | (in thousands) Accretable discount Non-accretable discount Balance at December 31, 2013 $ 137 $ 369 Accretion (75 ) (103 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at December 31, 2014 62 266 Accretion (53 ) (74 ) Reclassifications from (to) non-accretable discount - - Disposals - - Balance at September 30, 2015 $ 9 $ 192 |
Impaired Financing Receivables [Table Text Block] | (in thousands) Unpaid Average Recorded principal Related recorded September 30, 2015 investment balance allowance investment Loans with no related allowance recorded Commercial and industrial $ 1,545 $ 4,245 $ - $ 988 Construction and development, excluding undeveloped land 26 151 - 26 Undeveloped land - - - - Real estate mortgage Commercial investment 285 542 - 154 Owner occupied commercial 1,603 2,040 - 1,591 1-4 family residential 316 316 - 600 Home equity - first lien 91 91 - 43 Home equity - junior lien 37 37 - 64 Subtotal: Real estate mortgage 2,332 3,026 - 2,452 Consumer 15 15 - 4 Subtotal $ 3,918 $ 7,437 $ - $ 3,470 Loans with an allowance recorded Commercial and industrial $ 5,233 $ 6,804 $ 1,217 $ 5,387 Construction and development, excluding undeveloped land - - - 368 Undeveloped land - - - - Real estate mortgage Commercial investment - - - 92 Owner occupied commercial 1,432 1,432 316 1,328 1-4 family residential - - - 188 Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage 1,432 1,432 316 1,608 Consumer 70 70 70 73 Subtotal $ 6,735 $ 8,306 $ 1,603 $ 7,436 Total Commercial and industrial $ 6,778 $ 11,049 $ 1,217 $ 6,375 Construction and development, excluding undeveloped land 26 151 - 394 Undeveloped land - - - - Real estate mortgage - - - - Commercial investment 285 542 - 246 Owner occupied commercial 3,035 3,472 316 2,919 1-4 family residential 316 316 - 788 Home equity - first lien 91 91 - 43 Home equity - junior lien 37 37 - 64 Subtotal: Real estate mortgage 3,764 4,458 316 4,060 Consumer 85 85 70 77 Total $ 10,653 $ 15,743 $ 1,603 $ 10,906 (in thousands) Unpaid Average Recorded principal Related recorded December 31, 2014 investment balance allowance investment Loans with no related allowance recorded Commercial and industrial $ 896 $ 3,596 $ - $ 996 Construction and development, excluding undeveloped land 26 151 - 26 Undeveloped land - - - 5,608 Real estate mortgage Commercial investment 113 113 - 198 Owner occupied commercial 1,784 2,221 - 1,939 1-4 family residential 870 870 - 782 Home equity - first lien - - - 11 Home equity - junior lien 36 36 - 69 Subtotal: Real estate mortgage 2,803 3,240 - 2,999 Consumer - - - - Subtotal $ 3,725 $ 6,987 $ - $ 9,629 Loans with an allowance recorded Commercial and industrial $ 6,343 $ 7,914 $ 1,029 $ 6,797 Construction and development, excluding undeveloped land 490 490 15 196 Undeveloped land - - - - Real estate mortgage Commercial investment 122 122 - 640 Owner occupied commercial 716 716 112 704 1-4 family residential 79 79 144 651 Home equity - first lien - - - - Home equity - junior lien - - - - Subtotal: Real estate mortgage 917 917 256 1,995 Consumer 76 76 76 80 Subtotal $ 7,826 $ 9,397 $ 1,376 $ 9,068 Total Commercial and industrial $ 7,239 $ 11,510 $ 1,029 $ 7,793 Construction and development, excluding undeveloped land 516 641 15 222 Undeveloped land - - - 5,608 Real estate mortgage - - - - Commercial investment 235 235 - 838 Owner occupied commercial 2,500 2,937 112 2,643 1-4 family residential 949 949 144 1,433 Home equity - first lien - - - 11 Home equity - junior lien 36 36 - 69 Subtotal: Real estate mortgage 3,720 4,157 256 4,994 Consumer 76 76 76 80 Total $ 11,551 $ 16,384 $ 1,376 $ 18,697 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) September 30, 2015 December 31, 2014 Commercial and industrial $ 5,769 $ 1,381 Construction and development, excluding undeveloped land 26 516 Undeveloped land - - Real estate mortgage Commercial investment 285 235 Owner occupied commercial 3,035 2,081 1-4 family residential 316 950 Home equity - first lien 91 - Home equity - junior lien 37 36 Subtotal: Real estate mortgage 3,764 3,302 Consumer 15 - Total $ 9,574 $ 5,199 |
Past Due Financing Receivables [Table Text Block] | Recorded (in thousands) 90 or more investment days past > 90 days 30-59 days 60-89 days due (includes) Total Total and September 30, 2015 past due past due non-accrual) past due Current loans accruing Commercial and industrial $ 26 $ 25 $ 5,769 $ 5,820 $ 605,057 $ 610,877 $ - Construction and development, excluding undeveloped land - - 26 26 109,844 109,870 - Undeveloped land - - - - 18,950 18,950 - Real estate mortgage Commercial investment 427 - 285 712 490,459 491,171 - Owner occupied commercial 268 114 3,035 3,417 354,211 357,628 - 1-4 family residential 814 734 860 2,408 220,235 222,643 544 Home equity - first lien 17 72 91 180 49,757 49,937 - Home equity - junior lien 62 126 37 225 61,998 62,223 - Subtotal: Real estate mortgage 1,588 1,046 4,308 6,942 1,176,660 1,183,602 544 Consumer 36 - 15 51 31,075 31,126 - Total $ 1,650 $ 1,071 $ 10,118 $ 12,839 $ 1,941,586 $ 1,954,425 $ 544 December 31, 2014 Commercial and industrial $ 3,860 $ 3 $ 1,382 $ 5,245 $ 566,509 $ 571,754 $ 1 Construction and development, excluding undeveloped land 69 - 757 826 94,907 95,733 241 Undeveloped land - - - - 21,268 21,268 - Real estate mortgage Commercial investment 993 249 235 1,477 486,345 487,822 - Owner occupied commercial 1,272 920 2,081 4,273 336,709 340,982 - 1-4 family residential 1,801 285 1,023 3,109 208,439 211,548 73 Home equity - first lien - - 14 14 43,765 43,779 14 Home equity - junior lien 470 78 36 584 65,684 66,268 Subtotal: Real estate mortgage 4,536 1,532 3,389 9,457 1,140,942 1,150,399 87 Consumer 43 18 - 61 29,335 29,396 - Total $ 8,508 $ 1,553 $ 5,528 $ 15,589 $ 1,852,961 $ 1,868,550 $ 329 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (in thousands) Special Substandard Total September 30, 2015 Pass mention Substandard non-performing Doubtful loans Commercial and industrial $ 591,923 $ 9,946 $ 2,230 $ 6,778 $ - $ 610,877 Construction and development, excluding undeveloped land 106,558 2,945 341 26 - 109,870 Undeveloped land 18,273 520 157 - - 18,950 Real estate mortgage Commercial investment 484,638 5,755 493 285 - 491,171 Owner occupied commercial 340,032 12,038 2,523 3,035 - 357,628 1-4 family residential 220,287 1,496 - 860 - 222,643 Home equity - first lien 49,846 - - 91 - 49,937 Home equity - junior lien 61,968 97 121 37 - 62,223 Subtotal: Real estate mortgage 1,156,771 19,386 3,137 4,308 - 1,183,602 Consumer 31,041 - - 85 - 31,126 Total $ 1,904,566 $ 32,797 $ 5,865 $ 11,197 $ - $ 1,954,425 December 31, 2014 Commercial and industrial $ 546,582 $ 6,215 $ 11,717 $ 7,240 $ - $ 571,754 Construction and development, excluding undeveloped land 88,389 4,867 1,720 757 - 95,733 Undeveloped land 20,578 530 160 - - 21,268 Real estate mortgage Commercial investment 482,415 4,991 181 235 - 487,822 Owner occupied commercial 328,385 6,942 3,156 2,499 - 340,982 1-4 family residential 209,396 1,129 - 1,023 - 211,548 Home equity - first lien 43,765 - - 14 - 43,779 Home equity - junior lien 66,182 50 - 36 - 66,268 Subtotal: Real estate mortgage 1,130,143 13,112 3,337 3,807 - 1,150,399 Consumer 29,244 76 - 76 - 29,396 Total $ 1,814,936 $ 24,800 $ 16,934 $ 11,880 $ - $ 1,868,550 |
Note 5 - Federal Home Loan Ba29
Note 5 - Federal Home Loan Bank Advances (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Maturities and Average Effective Interest Rates of Federal Home Loan Bank Advances [Table Text Block] | (In thousands) September 30, 2015 December 31, 2014 Advance Rate Advance Rate 2015 $ 30,000 2.33 % $ 30,000 2.30 % 2020 1,850 2.23 % 1,885 2.23 % 2021 446 2.12 % 497 2.12 % 2024 2,916 2.36 % 3,064 2.36 % 2025 7,132 2.44 % - - 2028 1,355 1.47 % 1,386 1.47 % $ 43,699 2.32 % $ 36,832 2.27 % |
Note 6 - Derivative Financial30
Note 6 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Not Designated as Hedging Instrument [Member] | |
Note 6 - Derivative Financial Instruments (Tables) [Line Items] | |
Schedule of Interest Rate Derivatives [Table Text Block] | (dollar amounts in thousands) Receiving Paying September 30, December 31, September 30, December 31, 2015 2014 2015 2014 Notional amount $ 8,192 $ 7,217 $ 8,192 $ 7,217 Weighted average maturity (years) 6.8 6.8 6.8 6.8 Fair value $ (487 ) $ (401 ) $ 487 $ 401 |
Designated as Hedging Instrument [Member] | |
Note 6 - Derivative Financial Instruments (Tables) [Line Items] | |
Schedule of Interest Rate Derivatives [Table Text Block] | Notional Maturity Receive (variable) Pay fixed Fair value Fair value amount date index swap rate September 30, 2015 December 31, 2014 $ 10,000 12/6/2016 US 3 Month LIBOR 0.715 % $ (21 ) $ 24 20,000 12/6/2020 US 3 Month LIBOR 1.790 % (340 ) NA $ 30,000 1.432 % $ (361 ) $ 24 |
Note 7 - Goodwill and Intangi31
Note 7 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | For nine months ended September 30, (in thousands) 2015 2014 Balance at beginning of period $ 1,131 $ 1,832 Additions for mortgage loans sold 306 197 Amortization (569 ) (713 ) Balance at September 30 $ 868 $ 1,316 |
Note 11 - Stock-Based Compens32
Note 11 - Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | For three months ended For nine months ended (in thousands) September 30, September 30, 2015 2014 2015 2014 Stock-based compensation expense before income taxes $ 566 $ 691 $ 1,561 $ 1,459 Less: deferred tax benefit (198 ) (242 ) (546 ) (510 ) Reduction of net income $ 368 $ 449 $ 1,015 $ 949 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award Fair Value Assumptions and Methodology [Table Text Block] | 2015 2014 Dividend yield 2.97 % 2.94 % Expected volatility 22.81 % 23.66 % Risk free interest rate 1.91 % 2.22 % Expected life of SARs (in years) 7.5 7.0 |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | Weighted Weighted Aggregate Weighted average Options average intrinsic average remaining and SARs Exercise exercise value fair contractual (in thousands) price price (in thousands) value life (in years) At December 31, 2014 Vested and exercisable 524 $ 21.03 - 26.83 $ 23.84 $ 4,981 $ 5.35 3.5 Unvested 194 21.03 - 29.16 24.83 1,650 4.57 7.7 Total outstanding 718 21.03 - 29.16 24.11 6,631 5.14 4.6 Granted 50 34.43 - 36.83 34.48 76 5.95 Exercised (102 ) 21.03 - 26.83 24.22 1,186 5.72 Forfeited - - - - - At September 30, 2015 Vested and exercisable 489 21.03 - 29.16 24.38 5,974 5.17 3.6 Unvested 177 22.86 - 36.83 27.99 1,411 4.93 7.9 Total outstanding 666 21.03 - 36.83 26.19 $ 7,385 5.11 4.7 Vested year-to-date 67 21.03 - 29.16 23.77 $ 817 4.65 |
Schedule of Nonvested Share Activity [Table Text Block] | Grant date weighted- Number average cost Unvested at December 31, 2013 124,556 $ 22.77 Shares awarded 39,730 29.12 Restrictions lapsed and shares released to employees/directors (44,724 ) 22.69 Shares forfeited (5,469 ) 23.77 Unvested at December 31, 2014 114,093 $ 24.95 Shares awarded 34,990 34.43 Restrictions lapsed and shares released to employees/directors (40,510 ) 23.84 Shares forfeited (3,766 ) 28.11 Unvested at September 30, 2015 104,807 $ 28.44 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Vesting Expected Grant period Fair shares to year in years value be awarded 2013 3 $ 20.38 36,792 2014 3 26.42 29,181 2015 3 31.54 19,774 |
Note 12 - Net Income Per Share
Note 12 - Net Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended (In thousands, except per share data) September 30 September 30 2015 2014 2015 2014 Net income $ 9,284 $ 9,889 $ 27,541 $ 26,100 Average shares outstanding 14,754 14,574 14,704 14,542 Dilutive securities 232 174 236 190 Average shares outstanding including dilutive securities including dilutive securities 14,986 14,748 14,940 14,732 Net income per share, basic $ 0.63 $ 0.68 $ 1.87 $ 1.79 Net income per share, diluted $ 0.62 $ 0.67 $ 1.84 $ 1.77 |
Note 13 - Segments (Tables)
Note 13 - Segments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Investment Commercial management (in thousands) banking and trust Total Three months ended September 30, 2015 Net interest income $ 22,034 $ 47 $ 22,081 Provision for loan losses - - - Investment management and trust services - 4,373 4,373 All other non-interest income 5,612 - 5,612 Non-interest expense 15,785 2,645 18,430 Income before income taxes 11,861 1,775 13,636 Tax expense 3,720 632 4,352 Net income $ 8,141 $ 1,143 $ 9,284 Three months ended September 30, 2014 Net interest income $ 21,317 $ 46 $ 21,363 Provision (credit) for loan losses (2,100 ) - (2,100 ) Investment management and trust services - 4,502 4,502 All other non-interest income 5,348 - 5,348 Non-interest expense 15,971 2,738 18,709 Income before income taxes 12,794 1,810 14,604 Tax expense 4,071 644 4,715 Net income $ 8,723 $ 1,166 $ 9,889 Investment Commercial management (in thousands) banking and trust Total Nine months ended September 30, 2015 Net interest income $ 65,350 $ 146 $ 65,496 Provision for loan losses - - - Investment management and trust services - 13,576 13,576 All other non-interest income 16,301 - 16,301 Non-interest expense 46,991 8,085 55,076 Income before income taxes 34,660 5,637 40,297 Tax expense 10,749 2,007 12,756 Net income $ 23,911 $ 3,630 $ 27,541 Nine months ended September 30, 2014 Net interest income $ 62,110 $ 136 $ 62,246 Provision (credit) for loan losses (400 ) - (400 ) Investment management and trust services - 13,825 13,825 All other non-interest income 15,527 30 15,557 Non-interest expense 46,036 7,918 53,954 Income before income taxes 32,001 6,073 38,074 Tax expense 9,814 2,160 11,974 Net income $ 22,187 $ 3,913 $ 26,100 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Nine months ended September 30 2015 2014 U.S. federal statutory tax rate 35.0 % 35.0 % Tax exempt interest income (1.4 ) (1.5 ) Tax credits (2.4 ) (1.5 ) Cash surrender value of life insurance (0.6 ) (1.3 ) State income taxes, net of federal benefit 0.8 0.9 Other, net 0.3 (0.2 ) Effective tax rate 31.7 % 31.4 % |
Note 15 - Assets and Liabilit36
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (in thousands) Fair value at September 30, 2015 Total Level 1 Level 2 Level 3 Assets Investment securities available for sale U.S. Treasury and other U.S. government obligations $ 100,000 $ 100,000 $ - $ - Government sponsored enterprise obligations 186,810 - 186,810 - Mortgage-backed securities - government agencies 154,347 - 154,347 - Obligations of states and political subdivisions 62,508 - 62,508 - Corporate equity securities 701 701 - - Total investment securities available for sale 504,366 100,701 403,665 - Interest rate swaps 487 - 487 - Total assets $ 504,853 $ 100,701 $ 404,152 $ - Liabilities Interest rate swaps $ 848 $ - $ 848 $ - (in thousands) Fair value at December 31, 2014 Total Level 1 Level 2 Level 3 Assets Investment securities available for sale U.S. Treasury and other U.S. government obligations $ 70,000 $ 70,000 $ - $ - Government sponsored enterprise obligations 204,986 - 204,986 - Mortgage-backed securities - government agencies 174,270 - 174,270 - Obligations of states and political subdivisions 62,834 - 62,834 - Corporate equity securities 966 966 - - Total investment securities available for sale 513,056 70,966 442,090 - Interest rate swaps 425 - 425 - Total assets $ 513,481 $ 70,966 $ 442,515 $ - Liabilities Interest rate swaps $ 401 $ - $ 401 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | (in thousands) Fair value at September 30, 2015 Losses for 9 month period ended Total Level 1 Level 2 Level 3 September 30, 2015 Impaired loans $ 5,132 $ - $ - $ 5,132 $ (1,147 ) Other real estate owned 3,569 - - 3,569 - Total $ 8,701 $ - $ - $ 8,701 $ (1,147 ) (in thousands) Fair value at December 31, 2014 Losses for 9 month period ended Total Level 1 Level 2 Level 3 September 30, 2014 Impaired loans $ 6,449 $ - $ - $ 6,449 $ (1,148 ) Other real estate owned 5,032 - - 5,032 (25 ) Total $ 11,481 $ - $ - $ 11,481 $ (1,173 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Significant Weighted Fair Valuation unobservable average of (Dollars in thousands) Value technique input input Impaired loans - collateral dependent $ 5,132 Appraisal Appraisal discounts (%) 6.4 % Other real estate owned 3,569 Appraisal Appraisal discounts 14.6 |
Note 16 - Disclosure of Finan37
Note 16 - Disclosure of Financial Instruments Not Reported at Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in thousands) Carrying September 30, 2015 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 55,194 $ 55,194 $ 55,194 $ - $ - Mortgage loans held for sale 5,539 5,678 - 5,678 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 1,932,811 1,935,651 - - 1,935,651 Accrued interest receivable 6,058 6,058 6,058 - - Financial liabilities Deposits 2,141,578 2,141,926 - 2,141,926 - Short-term borrowings 129,658 129,658 - 129,658 - FHLB advances 43,699 43,961 - 43,961 - Accrued interest payable 126 126 126 - - (in thousands) Carrying December 31, 2014 amount Fair value Level 1 Level 2 Level 3 Financial assets Cash and short-term investments $ 74,241 $ 74,241 $ 74,241 $ - $ - Mortgage loans held for sale 3,747 3,876 - 3,876 - Federal Home Loan Bank stock and other securities 6,347 6,347 - 6,347 - Loans, net 1,843,630 1,863,568 - - 1,863,568 Accrued interest receivable 5,980 5,980 5,980 - - Financial liabilities Deposits 2,123,627 2,124,904 - 2,124,904 - Short-term borrowings 116,949 116,949 - 116,949 - FHLB advances 36,832 37,714 - 37,714 - Accrued interest payable 131 131 131 - - |
Note 17 - Regulatory Matters (T
Note 17 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in thousands) Actual Minimum for adequately capitalized Minimum for well capitalized September 30, 2015 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 298,667 13.68 % $ 174,659 8.00 % NA NA Bank 290,863 13.35 174,300 8.00 $ 217,875 10.00 % Common Equity Tier 1 risk-based capital (2) Consolidated 276,681 12.68 98,191 4.50 NA NA Bank 268,877 12.34 98,051 4.50 130,734 6.00 Tier 1 risk-based capital (1) Consolidated 276,681 12.68 130,922 6.00 NA NA Bank 268,877 12.34 130,734 6.00 130,734 6.00 Leverage (3) Consolidated 276,681 10.82 102,285 4.00 NA NA Bank 268,877 10.52 102,235 4.00 127,793 5.00 Actual Minimum for adequately capitalized Minimum for well capitalized December 31, 2014 Amount Ratio Amount Ratio Amount Ratio Total risk-based capital (1) Consolidated $ 280,228 13.86 % $ 161,748 8.00 % NA NA Bank 274,345 13.59 161,498 8.00 $ 201,873 10.00 % Tier 1 risk-based capital (1) Consolidated 255,308 12.63 80,858 4.00 NA NA Bank 249,425 12.36 80,720 4.00 121,080 6.00 Leverage (3) Consolidated 255,308 10.26 74,651 3.00 NA NA Bank 249,425 10.04 74,529 3.00 124,216 5.00 |
Note 1 - Summary of Significa39
Note 1 - Summary of Significant Accounting Policies (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Period Look-back | 36 months |
Period Look-back, Extended | 72 months |
Note 2 - Securities (Details)
Note 2 - Securities (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Investments, Debt and Equity Securities [Abstract] | |||||
Held-to-maturity Securities | $ 0 | $ 0 | |||
Proceeds from Sale of Available-for-sale Securities | $ 5,900,000 | 5,934,000 | $ 7,732,000 | $ 7,700,000 | |
Available-for-sale Securities, Gross Realized Losses | 0 | $ 9,000 | |||
Available-for-sale Securities, Gross Realized Gains | $ 0 | ||||
Available-for-sale Securities Pledged as Collateral | $ 278,100,000 | $ 263,100,000 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 45 | 80 |
Note 2 - Securities (Details) -
Note 2 - Securities (Details) - Available-for-sale Securities - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 498,633 | $ 509,276 |
Unrealized gains | 6,792 | 5,829 |
Unrealized losses | 1,059 | 2,049 |
Fair value | 504,366 | 513,056 |
US Treasury Securities [Member] | ||
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | 100,000 | 70,000 |
Fair value | 100,000 | 70,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | 184,258 | 203,531 |
Unrealized gains | 2,746 | 2,017 |
Unrealized losses | 194 | 562 |
Fair value | 186,810 | 204,986 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | 152,552 | 173,573 |
Unrealized gains | 2,564 | 2,042 |
Unrealized losses | 769 | 1,345 |
Fair value | 154,347 | 174,270 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | 61,067 | 61,416 |
Unrealized gains | 1,482 | 1,560 |
Unrealized losses | 41 | 142 |
Fair value | 62,508 | 62,834 |
Common Stock [Member] | ||
Note 2 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
Amortized cost | 756 | 756 |
Unrealized gains | 210 | |
Unrealized losses | 55 | |
Fair value | $ 701 | $ 966 |
Note 2 - Securities (Details)42
Note 2 - Securities (Details) - Available-for-sale Securities by Contractual Maturity - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale Securities by Contractual Maturity [Abstract] | ||
Due within 1 year | $ 125,176 | |
Due within 1 year | 125,348 | |
Due after 1 but within 5 years | 114,928 | |
Due after 1 but within 5 years | 117,100 | |
Due after 5 but within 10 years | 15,694 | |
Due after 5 but within 10 years | 15,992 | |
Due after 10 years | 89,527 | |
Due after 10 years | 90,878 | |
Mortgage-backed securities | 152,552 | |
Mortgage-backed securities | 154,347 | |
Corporate equity securities | 756 | |
Corporate equity securities | 701 | |
Total securities available-for-sale | 498,633 | $ 509,276 |
Total securities available-for-sale | $ 504,366 | $ 513,056 |
Note 2 - Securities (Details)43
Note 2 - Securities (Details) - Securities With Unrealized Losses - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 2 - Securities (Details) - Securities With Unrealized Losses [Line Items] | ||
Less than 12 months, fair value | $ 27,800 | $ 53,672 |
Less than 12 months, unrealized losses | 217 | 174 |
12 months or more, fair value | 42,706 | 82,470 |
12 months or more, unrealized losses | 842 | 1,875 |
Fair value | 70,506 | 136,142 |
Unrealized losses | 1,059 | 2,049 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Securities (Details) - Securities With Unrealized Losses [Line Items] | ||
Less than 12 months, fair value | 6,353 | 36,979 |
Less than 12 months, unrealized losses | 8 | 30 |
12 months or more, fair value | 8,740 | 26,848 |
12 months or more, unrealized losses | 186 | 532 |
Fair value | 15,093 | 63,827 |
Unrealized losses | 194 | 562 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 2 - Securities (Details) - Securities With Unrealized Losses [Line Items] | ||
Less than 12 months, fair value | 12,929 | 4,038 |
Less than 12 months, unrealized losses | 129 | 77 |
12 months or more, fair value | 31,734 | 49,325 |
12 months or more, unrealized losses | 640 | 1,268 |
Fair value | 44,663 | 53,363 |
Unrealized losses | 769 | 1,345 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 2 - Securities (Details) - Securities With Unrealized Losses [Line Items] | ||
Less than 12 months, fair value | 7,817 | 12,655 |
Less than 12 months, unrealized losses | 25 | 67 |
12 months or more, fair value | 2,232 | 6,297 |
12 months or more, unrealized losses | 16 | 75 |
Fair value | 10,049 | 18,952 |
Unrealized losses | 41 | $ 142 |
Common Stock [Member] | ||
Note 2 - Securities (Details) - Securities With Unrealized Losses [Line Items] | ||
Less than 12 months, fair value | 701 | |
Less than 12 months, unrealized losses | 55 | |
12 months or more, fair value | 0 | |
12 months or more, unrealized losses | 0 | |
Fair value | 701 | |
Unrealized losses | $ 55 |
Note 3 - Loans (Details)
Note 3 - Loans (Details) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014 | Dec. 31, 2014USD ($) | |
Receivables [Abstract] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 544 | $ 329 | |
Financing Receivable, Modifications, Recorded Investment | $ 1,100 | 6,400 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 188 | 703 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 458 |
Note 3 - Loans (Details) - Loan
Note 3 - Loans (Details) - Loans by Loan Portfolio Class - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 1,954,425 | $ 1,868,550 |
Commercial and Industrial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 610,877 | 571,754 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 109,870 | 95,733 |
Undevelopment Land Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 18,950 | 21,268 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 1,183,602 | 1,150,399 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 491,171 | 487,822 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 357,628 | 340,982 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 222,643 | 211,548 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 49,937 | 43,779 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 62,223 | 66,268 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 31,126 | $ 29,396 |
Note 3 - Loans (Details) - Allo
Note 3 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment and Based On Impairment Evaluation Method - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | $ 1,954,425 | $ 1,868,550 | ||
Loans collectively evaluated for impairment | 1,942,877 | 1,855,837 | ||
Loans individually evaluated for impairment | 10,653 | 11,551 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 24,920 | $ 28,522 | 28,522 | |
Allowance for loan losses | 21,614 | 24,920 | ||
Allowance for loans collectively evaluated for impairment | 20,011 | 23,544 | ||
Allowance for loans individually evaluated for impairment | 1,603 | 1,376 | ||
Provision (credit) | $ (2,100) | 0 | (400) | (400) |
Charge-offs | (4,481) | (4,244) | ||
Recoveries | 1,175 | 1,042 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 895 | 1,162 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Commercial and Industrial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 610,877 | 571,754 | ||
Loans collectively evaluated for impairment | 604,021 | 564,443 | ||
Loans individually evaluated for impairment | 6,778 | 7,239 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 11,819 | 7,644 | 7,644 | |
Allowance for loan losses | 8,306 | 11,819 | ||
Allowance for loans collectively evaluated for impairment | 7,089 | 10,790 | ||
Allowance for loans individually evaluated for impairment | 1,217 | 1,029 | ||
Provision (credit) | (214) | 4,593 | ||
Charge-offs | (3,346) | (661) | ||
Recoveries | 47 | 243 | ||
Commercial and Industrial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 78 | 72 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 109,870 | 95,733 | ||
Loans collectively evaluated for impairment | 109,523 | 94,603 | ||
Loans individually evaluated for impairment | 26 | 516 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 721 | 2,555 | 2,555 | |
Allowance for loan losses | 1,320 | 721 | ||
Allowance for loans collectively evaluated for impairment | 1,320 | 706 | ||
Allowance for loans individually evaluated for impairment | 0 | 15 | ||
Provision (credit) | 599 | (1,584) | ||
Charge-offs | 0 | (250) | ||
Recoveries | 0 | 0 | ||
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 321 | 614 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Undevelopment Land Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 18,950 | 21,268 | ||
Loans collectively evaluated for impairment | 18,950 | 21,268 | ||
Loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 1,545 | 5,376 | 5,376 | |
Allowance for loan losses | 868 | 1,545 | ||
Allowance for loans collectively evaluated for impairment | 868 | 1,545 | ||
Allowance for loans individually evaluated for impairment | 0 | 0 | ||
Provision (credit) | (1,327) | (2,244) | ||
Charge-offs | 0 | (1,753) | ||
Recoveries | 650 | 166 | ||
Undevelopment Land Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 0 | 0 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Real Estate Mortgage Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 1,183,602 | 1,150,399 | ||
Loans collectively evaluated for impairment | 1,179,342 | 1,146,212 | ||
Loans individually evaluated for impairment | 3,764 | 3,720 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 10,541 | 12,604 | 12,604 | |
Allowance for loan losses | 10,815 | 10,541 | ||
Allowance for loans collectively evaluated for impairment | 10,499 | 10,285 | ||
Allowance for loans individually evaluated for impairment | 316 | 256 | ||
Provision (credit) | 844 | (1,190) | ||
Charge-offs | (688) | (993) | ||
Recoveries | 118 | 120 | ||
Real Estate Mortgage Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 496 | 467 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 31,126 | 29,396 | ||
Loans collectively evaluated for impairment | 31,041 | 29,311 | ||
Loans individually evaluated for impairment | 85 | 76 | ||
Allowance for loan losses | ||||
Allowance for loan losses | 294 | 343 | 343 | |
Allowance for loan losses | 305 | 294 | ||
Allowance for loans collectively evaluated for impairment | 235 | 218 | ||
Allowance for loans individually evaluated for impairment | 70 | 76 | ||
Provision (credit) | 98 | 25 | ||
Charge-offs | (447) | (587) | ||
Recoveries | 360 | 513 | ||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans | 0 | 9 | ||
Allowance for loan losses | ||||
0 | 0 | |||
Unallocated Financing Receivables [Member] | ||||
Allowance for loan losses | ||||
Allowance for loan losses | 0 | $ 0 | 0 | |
Allowance for loan losses | 0 | 0 | ||
Allowance for loans collectively evaluated for impairment | 0 | 0 | ||
Allowance for loans individually evaluated for impairment | 0 | 0 | ||
Provision (credit) | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses | ||||
$ 0 | $ 0 |
Note 3 - Loans (Details) - Acqu
Note 3 - Loans (Details) - Acquired Impaired Loans - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Acquired Impaired Loans [Abstract] | ||
Accretable discount | $ 62 | $ 137 |
Non- accretable discount | 266 | 369 |
Accretion | (53) | (75) |
Non- accretable discount, accretion | (74) | (103) |
Accretable discount | 9 | 62 |
Non- accretable discount | $ 192 | $ 266 |
Note 3 - Loans (Details) - Lo48
Note 3 - Loans (Details) - Loans Individually Evaluated for Impairment - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | $ 3,918 | $ 3,725 |
Loans with no related allowance recorded, unpaid principal balance | 7,437 | 6,987 |
Loans with no related allowance recorded, average recorded investment | 3,470 | 9,629 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 6,735 | 7,826 |
Loans with an allowance recorded, unpaid principal balance | 8,306 | 9,397 |
Related allowance | 1,603 | 1,376 |
Loans with an allowance recorded, average recorded investment | 7,436 | 9,068 |
Total | ||
Recorded investment | 10,653 | 11,551 |
Unpaid principal balance | 15,743 | 16,384 |
Related allowance | 1,603 | 1,376 |
Average recorded investment | 10,906 | 18,697 |
Commercial and Industrial Portfolio Segment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 1,545 | 896 |
Loans with no related allowance recorded, unpaid principal balance | 4,245 | 3,596 |
Loans with no related allowance recorded, average recorded investment | 988 | 996 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 5,233 | 6,343 |
Loans with an allowance recorded, unpaid principal balance | 6,804 | 7,914 |
Related allowance | 1,217 | 1,029 |
Loans with an allowance recorded, average recorded investment | 5,387 | 6,797 |
Total | ||
Recorded investment | 6,778 | 7,239 |
Unpaid principal balance | 11,049 | 11,510 |
Related allowance | 1,217 | 1,029 |
Average recorded investment | 6,375 | 7,793 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 26 | 26 |
Loans with no related allowance recorded, unpaid principal balance | 151 | 151 |
Loans with no related allowance recorded, average recorded investment | 26 | 26 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 490 |
Loans with an allowance recorded, unpaid principal balance | 0 | 490 |
Related allowance | 0 | 15 |
Loans with an allowance recorded, average recorded investment | 368 | 196 |
Total | ||
Recorded investment | 26 | 516 |
Unpaid principal balance | 151 | 641 |
Related allowance | 0 | 15 |
Average recorded investment | 394 | 222 |
Undevelopment Land Portfolio Segment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 0 | 0 |
Loans with no related allowance recorded, unpaid principal balance | 0 | 0 |
Loans with no related allowance recorded, average recorded investment | 0 | 5,608 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 |
Total | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment | 0 | 5,608 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 2,332 | 2,803 |
Loans with no related allowance recorded, unpaid principal balance | 3,026 | 3,240 |
Loans with no related allowance recorded, average recorded investment | 2,452 | 2,999 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 1,432 | 917 |
Loans with an allowance recorded, unpaid principal balance | 1,432 | 917 |
Related allowance | 316 | 256 |
Loans with an allowance recorded, average recorded investment | 1,608 | 1,995 |
Total | ||
Recorded investment | 3,764 | 3,720 |
Unpaid principal balance | 4,458 | 4,157 |
Related allowance | 316 | 256 |
Average recorded investment | 4,060 | 4,994 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 285 | 113 |
Loans with no related allowance recorded, unpaid principal balance | 542 | 113 |
Loans with no related allowance recorded, average recorded investment | 154 | 198 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 122 |
Loans with an allowance recorded, unpaid principal balance | 0 | 122 |
Related allowance | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 92 | 640 |
Total | ||
Recorded investment | 285 | 235 |
Unpaid principal balance | 542 | 235 |
Related allowance | 0 | 0 |
Average recorded investment | 246 | 838 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 1,603 | 1,784 |
Loans with no related allowance recorded, unpaid principal balance | 2,040 | 2,221 |
Loans with no related allowance recorded, average recorded investment | 1,591 | 1,939 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 1,432 | 716 |
Loans with an allowance recorded, unpaid principal balance | 1,432 | 716 |
Related allowance | 316 | 112 |
Loans with an allowance recorded, average recorded investment | 1,328 | 704 |
Total | ||
Recorded investment | 3,035 | 2,500 |
Unpaid principal balance | 3,472 | 2,937 |
Related allowance | 316 | 112 |
Average recorded investment | 2,919 | 2,643 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 316 | 870 |
Loans with no related allowance recorded, unpaid principal balance | 316 | 870 |
Loans with no related allowance recorded, average recorded investment | 600 | 782 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 79 |
Loans with an allowance recorded, unpaid principal balance | 0 | 79 |
Related allowance | 0 | 144 |
Loans with an allowance recorded, average recorded investment | 188 | 651 |
Total | ||
Recorded investment | 316 | 949 |
Unpaid principal balance | 316 | 949 |
Related allowance | 0 | 144 |
Average recorded investment | 788 | 1,433 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 91 | 0 |
Loans with no related allowance recorded, unpaid principal balance | 91 | 0 |
Loans with no related allowance recorded, average recorded investment | 43 | 11 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 |
Total | ||
Recorded investment | 91 | 0 |
Unpaid principal balance | 91 | 0 |
Related allowance | 0 | 0 |
Average recorded investment | 43 | 11 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 37 | 36 |
Loans with no related allowance recorded, unpaid principal balance | 37 | 36 |
Loans with no related allowance recorded, average recorded investment | 64 | 69 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 0 | 0 |
Loans with an allowance recorded, unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Loans with an allowance recorded, average recorded investment | 0 | 0 |
Total | ||
Recorded investment | 37 | 36 |
Unpaid principal balance | 37 | 36 |
Related allowance | 0 | 0 |
Average recorded investment | 64 | 69 |
Consumer Portfolio Segment [Member] | ||
Loans with no related allowance recorded | ||
Loans with no related allowance recorded, recorded investment | 15 | 0 |
Loans with no related allowance recorded, unpaid principal balance | 15 | 0 |
Loans with no related allowance recorded, average recorded investment | 4 | 0 |
Loans with an allowance recorded | ||
Loans with an allowance recorded, recorded investment | 70 | 76 |
Loans with an allowance recorded, unpaid principal balance | 70 | 76 |
Related allowance | 70 | 76 |
Loans with an allowance recorded, average recorded investment | 73 | 80 |
Total | ||
Recorded investment | 85 | 76 |
Unpaid principal balance | 85 | 76 |
Related allowance | 70 | 76 |
Average recorded investment | $ 77 | $ 80 |
Note 3 - Loans (Details) - Non-
Note 3 - Loans (Details) - Non-accrual Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | $ 9,574 | $ 5,199 |
Commercial and Industrial Portfolio Segment [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 5,769 | 1,381 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 26 | 516 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 3,764 | 3,302 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 285 | 235 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 3,035 | 2,081 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 316 | 950 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 91 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | 37 | 36 |
Consumer Portfolio Segment [Member] | ||
Note 3 - Loans (Details) - Non-accrual Loans [Line Items] | ||
Non-accrual loans | $ 15 | $ 0 |
Note 3 - Loans (Details) - Agin
Note 3 - Loans (Details) - Aging of the Recorded Investment in Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | $ 12,839 | $ 15,589 |
Current | 1,941,586 | 1,852,961 |
Loans | 1,954,425 | 1,868,550 |
Recorded investment greater than 90 days and accruing | 544 | 329 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,650 | 8,508 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,071 | 1,553 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 10,118 | 5,528 |
Commercial and Industrial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 5,820 | 5,245 |
Current | 605,057 | 566,509 |
Loans | 610,877 | 571,754 |
Recorded investment greater than 90 days and accruing | 0 | 1 |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 26 | 3,860 |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 25 | 3 |
Commercial and Industrial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 5,769 | 1,382 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 26 | 826 |
Current | 109,844 | 94,907 |
Loans | 109,870 | 95,733 |
Recorded investment greater than 90 days and accruing | 0 | 241 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 69 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 0 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 26 | 757 |
Undevelopment Land Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 0 |
Current | 18,950 | 21,268 |
Loans | 18,950 | 21,268 |
Recorded investment greater than 90 days and accruing | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 6,942 | 9,457 |
Current | 1,176,660 | 1,140,942 |
Loans | 1,183,602 | 1,150,399 |
Recorded investment greater than 90 days and accruing | 544 | 87 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,588 | 4,536 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,046 | 1,532 |
Real Estate Mortgage Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 4,308 | 3,389 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 712 | 1,477 |
Current | 490,459 | 486,345 |
Loans | 491,171 | 487,822 |
Recorded investment greater than 90 days and accruing | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 427 | 993 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 249 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 285 | 235 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 3,417 | 4,273 |
Current | 354,211 | 336,709 |
Loans | 357,628 | 340,982 |
Recorded investment greater than 90 days and accruing | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 268 | 1,272 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 114 | 920 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 3,035 | 2,081 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 2,408 | 3,109 |
Current | 220,235 | 208,439 |
Loans | 222,643 | 211,548 |
Recorded investment greater than 90 days and accruing | 544 | 73 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 814 | 1,801 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 734 | 285 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 860 | 1,023 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 180 | 14 |
Current | 49,757 | 43,765 |
Loans | 49,937 | 43,779 |
Recorded investment greater than 90 days and accruing | 0 | 14 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 17 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 72 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 91 | 14 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 225 | 584 |
Current | 61,998 | 65,684 |
Loans | 62,223 | 66,268 |
Recorded investment greater than 90 days and accruing | 0 | |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 62 | 470 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 126 | 78 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 37 | 36 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 51 | 61 |
Current | 31,075 | 29,335 |
Loans | 31,126 | 29,396 |
Recorded investment greater than 90 days and accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 36 | 43 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 0 | 18 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | $ 15 | $ 0 |
Note 3 - Loans (Details) - Inte
Note 3 - Loans (Details) - Internally Assigned Risk Grades of Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 1,954,425 | $ 1,868,550 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,904,566 | 1,814,936 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 32,797 | 24,800 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,865 | 16,934 |
Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,197 | 11,880 |
Commercial and Industrial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 610,877 | 571,754 |
Commercial and Industrial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 591,923 | 546,582 |
Commercial and Industrial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,946 | 6,215 |
Commercial and Industrial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial and Industrial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,230 | 11,717 |
Commercial and Industrial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,778 | 7,240 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 109,870 | 95,733 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 106,558 | 88,389 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,945 | 4,867 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 341 | 1,720 |
Construction and Development Excluding Undeveloped Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 26 | 757 |
Undevelopment Land Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,950 | 21,268 |
Undevelopment Land Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,273 | 20,578 |
Undevelopment Land Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 520 | 530 |
Undevelopment Land Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Undevelopment Land Portfolio Segment [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 157 | 160 |
Undevelopment Land Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,183,602 | 1,150,399 |
Real Estate Mortgage Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,156,771 | 1,130,143 |
Real Estate Mortgage Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 19,386 | 13,112 |
Real Estate Mortgage Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 491,171 | 487,822 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 484,638 | 482,415 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,755 | 4,991 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Investment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 357,628 | 340,982 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 340,032 | 328,385 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,038 | 6,942 |
Real Estate Mortgage Portfolio Segment [Member] | Owner Occupied Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 222,643 | 211,548 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 220,287 | 209,396 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,496 | 1,129 |
Real Estate Mortgage Portfolio Segment [Member] | One to Four Family Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,937 | 43,779 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,846 | 43,765 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity First Lien [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 62,223 | 66,268 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 61,968 | 66,182 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 97 | 50 |
Real Estate Mortgage Portfolio Segment [Member] | Home Equity Junior Lien [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,137 | 3,337 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial Investment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 493 | 181 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,523 | 3,156 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | One to Four Family Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity First Lien [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Junior Lien [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 121 | 0 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,308 | 3,807 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial Investment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 285 | 235 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,035 | 2,499 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | One to Four Family Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 860 | 1,023 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity First Lien [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 91 | 14 |
Real Estate Mortgage Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Junior Lien [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 37 | 36 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 31,126 | 29,396 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 31,041 | 29,244 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 76 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 85 | $ 76 |
Note 4 - Securities Sold Unde52
Note 4 - Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Securities Sold under Agreements to Repurchase [Abstract] | ||
Securities Sold under Agreements to Repurchase | $ 67,557 | $ 69,559 |
Note 5 - Federal Home Loan Ba53
Note 5 - Federal Home Loan Bank Advances (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Disclosure Text Block [Abstract] | ||
Advances from Federal Home Loan Banks | $ 43,699 | $ 36,832 |
Federal Home Loan Bank, Number of Separate Advances | 12 | |
Federal Home Loan Bank, Number of Separate Advances Principal Due at Maturity | 2 | |
Advances From Federal Home Loan Banks, Principal Due at Maturity | $ 30,000 | |
Final Advances from Federal Home Loan Banks, Principal Paid Monthly | 13,700 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 568,900 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 408,100 |
Note 5 - Federal Home Loan Ba54
Note 5 - Federal Home Loan Bank Advances (Details) - Contractual Maturities and Average Effective Rates of Outstanding Advances - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Contractual Maturities and Average Effective Rates of Outstanding Advances [Abstract] | ||
$ 30,000 | $ 30,000 | |
2.33% | 2.30% | |
$ 1,850 | $ 1,885 | |
2.23% | 2.23% | |
$ 446 | $ 497 | |
2.12% | 2.12% | |
$ 2,916 | $ 3,064 | |
2.36% | 2.36% | |
$ 7,132 | ||
2.44% | ||
$ 1,355 | $ 1,386 | |
1.47% | 1.47% | |
$ 43,699 | $ 36,832 | |
2.32% | 2.27% |
Note 6 - Derivative Financial55
Note 6 - Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2013 |
Note 6 - Derivative Financial Instruments (Details) [Line Items] | ||
Long-term Federal Home Loan Bank Advances, Current | $ 20,000 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ||
Note 6 - Derivative Financial Instruments (Details) [Line Items] | ||
Derivative, Notional Amount | 30,000 | |
Derivative Maturing 12/6/2016 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ||
Note 6 - Derivative Financial Instruments (Details) [Line Items] | ||
Derivative, Notional Amount | 10,000 | $ 10,000 |
Derivative Maturing 12/6/2020 [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | ||
Note 6 - Derivative Financial Instruments (Details) [Line Items] | ||
Derivative, Notional Amount | $ 20,000 |
Note 6 - Derivative Financial56
Note 6 - Derivative Financial Instruments (Details) - Outstanding Undesignated Interest Rate Swap Contracts - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Receiving [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Outstanding Undesignated Interest Rate Swap Contracts [Line Items] | ||
Notional amount | $ 8,192 | $ 7,217 |
Weighted average maturity (years) | 6 years 292 days | 6 years 292 days |
Fair value | $ (487) | $ (401) |
Paying [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Outstanding Undesignated Interest Rate Swap Contracts [Line Items] | ||
Notional amount | $ 8,192 | $ 7,217 |
Weighted average maturity (years) | 6 years 292 days | 6 years 292 days |
Fair value | $ 487 | $ 401 |
Note 6 - Derivative Financial57
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2013 | |
Interest Rate Swap [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Notional amount | $ 30,000 | |
Fair value | $ (361) | |
Paying [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Pay fixed swap rate | 1.432% | |
Derivative Maturing 12/6/2016 [Member] | Interest Rate Swap [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Notional amount | $ 10,000 | $ 10,000 |
Fair value | $ (21) | |
Derivative Maturing 12/6/2016 [Member] | Receiving [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Receive (variable) index | US 3 Month LIBOR | |
Derivative Maturing 12/6/2016 [Member] | Paying [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Pay fixed swap rate | 0.715% | |
Derivative Maturing 12/6/2020 [Member] | Interest Rate Swap [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Notional amount | $ 20,000 | |
Fair value | $ (340) | |
Derivative Maturing 12/6/2020 [Member] | Receiving [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Receive (variable) index | US 3 Month LIBOR | |
Derivative Maturing 12/6/2020 [Member] | Paying [Member] | ||
Note 6 - Derivative Financial Instruments (Details) - Derivative Position Designated As a Cash Flow Hedge [Line Items] | ||
Pay fixed swap rate | 1.79% |
Note 7 - Goodwill and Intangi58
Note 7 - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Finite-lived Intangible Assets, Fair Value Disclosure | $ 2,500 | $ 3,400 | |
Loans Serviced for Others Outstanding Principal Balance | 413,500 | $ 421,100 | |
Indiana Bank [Member] | Commercial Banking [Member] | |||
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Goodwill | $ 682 | ||
THE BANCorp [Member] | |||
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||
Core Deposits [Member] | |||
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Finite-Lived Intangible Assets, Net | $ 1,700 | ||
Core Deposits [Member] | THE BANCorp [Member] | |||
Note 7 - Goodwill and Intangible Assets (Details) [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,500 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years |
Note 7 - Goodwill and Intangi59
Note 7 - Goodwill and Intangible Assets (Details) - Mortgage Servicing Rights - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Mortgage Servicing Rights [Abstract] | ||
Balance at beginning of period | $ 1,131 | $ 1,832 |
Additions for mortgage loans sold | 306 | 197 |
Amortization | (569) | (713) |
Balance at September 30 | $ 868 | $ 1,316 |
Note 8 - Defined Benefit Reti60
Note 8 - Defined Benefit Retirement Plan (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Compensation and Retirement Disclosure [Abstract] | ||||
Defined Benefit Plan, Number of Employees Covered | 3 | |||
Defined Benefit Plan, Number of Present Employees Covered | 2 | |||
Defined Benefit Plan, Number of Retired Employees Covered | 1 | |||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 25 years | |||
Defined Benefit Plan, Number of Current Officers Fully Vested | 1 | |||
Defined Benefit Plan, Number of Current Officers That Will Be Fully Vested in Year 2017 | 1 | |||
Defined Benefit Plan, Net Periodic Benefit Cost (in Dollars) | $ 36 | $ 32 | $ 107 | $ 95 |
Note 9 - Commitments and Cont61
Note 9 - Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Commitments to Extend Credit and Standby Letters of Credit [Member] | ||
Note 9 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 574,600 | $ 463,000 |
Standby Letters of Credit [Member] | ||
Note 9 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | 11,000 | $ 11,000 |
Unfunded Commitments Inherit Risk [Member] | ||
Note 9 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Loss Contingency Accrual | $ 372 | |
Minimum [Member] | Standby Letters of Credit [Member] | ||
Note 9 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Guarantee Obligations Agreement Term | 1 year | |
Maximum [Member] | Standby Letters of Credit [Member] | ||
Note 9 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Guarantee Obligations Agreement Term | 2 years |
Note 10 - Preferred Stock (Deta
Note 10 - Preferred Stock (Details) - $ / shares | Sep. 30, 2015 | Dec. 31, 2014 |
Disclosure Text Block Supplement [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0 | |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Note 11 - Stock-Based Compens63
Note 11 - Stock-Based Compensation (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jun. 30, 2015shares | Mar. 31, 2015USD ($)shares | Sep. 30, 2015USD ($)shares | Sep. 30, 2014USD ($) | Dec. 31, 2014shares | Dec. 31, 2013shares | |
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Plans | 1 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in Shares) | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 362,985 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expected Additional Compensation Cost Remainder of Year | $ | $ 514 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 4,100 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | $ | $ 2,000 | $ 1,400 | ||||
Employee Stock Option [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Stock Appreciation Rights (SARs) [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Restricted Stock [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 34,990,000 | 39,730,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 104,807,000 | 114,093,000 | 124,556,000 | |||
Phantom Share Units (PSUs) [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | |||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||||
Note 11 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 6,080 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value Granted | $ | $ 200 | $ 175 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Cancelled in Period (in Shares) | 760 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 5,320 |
Note 11 - Stock-Based Compens64
Note 11 - Stock-Based Compensation (Details) - Stock-based Compensation Expense - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Stock-based Compensation Expense [Abstract] | ||||
Stock-based compensation expense before income taxes | $ 566 | $ 691 | $ 1,561 | $ 1,459 |
Less: deferred tax benefit | (198) | (242) | (546) | (510) |
Reduction of net income | $ 368 | $ 449 | $ 1,015 | $ 949 |
Note 11 - Stock-Based Compens65
Note 11 - Stock-Based Compensation (Details) - Fair Value Assumptions - Stock Options and Stock Appreciation Rights SARs [Member] | 9 Months Ended |
Sep. 30, 2015 | |
Note 11 - Stock-Based Compensation (Details) - Fair Value Assumptions [Line Items] | |
Dividend yield | 2.97% |
Expected volatility | 22.81% |
Risk free interest rate | 1.91% |
Expected life of SARs (in years) | 7 years 6 months |
Note 11 - Stock-Based Compens66
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Award Vested and Exercisable [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Vested and exercisable (in Shares) | 489 | 524 |
Vested and exercisable, weighted average exercise price | $ 24.38 | $ 23.84 |
Vested and exercisable, aggregate intrinsic value (in Dollars) | $ 5,974 | $ 4,981 |
Vested and exercisable, weighted average fair value | $ 5.17 | $ 5.35 |
Vested and exercisable, weighted average remaining contractual life | 3 years 219 days | 3 years 6 months |
Award Unvested [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Unvested (in Shares) | 177 | 194 |
Unvested, weighted average exercise price | $ 27.99 | $ 24.83 |
Unvested, aggregate intrinsic value (in Dollars) | $ 1,411 | $ 1,650 |
Unvested, weighted average fair value | $ 4.93 | $ 4.57 |
Unvested, weighted average remaining contractual life | 7 years 328 days | 7 years 255 days |
Award Outstanding [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Total outstanding (in Shares) | 666 | 718 |
Total outstanding, weighted average exercise price | $ 26.19 | $ 24.11 |
Total outstanding, aggregate intrinsic value (in Dollars) | $ 7,385 | $ 6,631 |
Total outstanding, weighted average fair value | $ 5.11 | $ 5.14 |
Total outstanding, weighted average remaining contractual life | 4 years 255 days | 4 years 219 days |
Award Granted [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Granted (in Shares) | 50 | |
Granted | $ 34.48 | |
Granted (in Dollars) | $ 76 | |
Granted | $ 5.95 | |
Award Exercised [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercised (in Shares) | (102) | |
Exercised | $ 24.22 | |
Exercised (in Dollars) | $ 1,186 | |
Exercised | $ 5.72 | |
Award Vested [Member] | ||
At September 30, 2015 | ||
Vested year-to-date (in Shares) | 67 | |
Vested year-to-date | $ 23.77 | |
Vested year-to-date (in Dollars) | $ 817 | |
Vested year-to-date | $ 4.65 | |
Minimum [Member] | Award Vested and Exercisable [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 21.03 | 21.03 |
Granted | 21.03 | 21.03 |
Exercised | 21.03 | 21.03 |
At September 30, 2015 | ||
Vested year-to-date | 21.03 | 21.03 |
Minimum [Member] | Award Unvested [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 22.86 | 21.03 |
Granted | 22.86 | 21.03 |
Exercised | 22.86 | 21.03 |
At September 30, 2015 | ||
Vested year-to-date | 22.86 | 21.03 |
Minimum [Member] | Award Outstanding [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 21.03 | 21.03 |
Granted | 21.03 | 21.03 |
Exercised | 21.03 | 21.03 |
At September 30, 2015 | ||
Vested year-to-date | 21.03 | 21.03 |
Minimum [Member] | Award Granted [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 34.43 | |
Granted | 34.43 | |
Exercised | 34.43 | |
At September 30, 2015 | ||
Vested year-to-date | 34.43 | |
Minimum [Member] | Award Exercised [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 21.03 | |
Granted | 21.03 | |
Exercised | 21.03 | |
At September 30, 2015 | ||
Vested year-to-date | 21.03 | |
Minimum [Member] | Award Vested [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 21.03 | |
Granted | 21.03 | |
Exercised | 21.03 | |
At September 30, 2015 | ||
Vested year-to-date | 21.03 | |
Maximum [Member] | Award Vested and Exercisable [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 29.16 | 26.83 |
Granted | 29.16 | 26.83 |
Exercised | 29.16 | 26.83 |
At September 30, 2015 | ||
Vested year-to-date | 29.16 | 26.83 |
Maximum [Member] | Award Unvested [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 36.83 | 29.16 |
Granted | 36.83 | 29.16 |
Exercised | 36.83 | 29.16 |
At September 30, 2015 | ||
Vested year-to-date | 36.83 | 29.16 |
Maximum [Member] | Award Outstanding [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 36.83 | 29.16 |
Granted | 36.83 | 29.16 |
Exercised | 36.83 | 29.16 |
At September 30, 2015 | ||
Vested year-to-date | 36.83 | 29.16 |
Maximum [Member] | Award Granted [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 36.83 | |
Granted | 36.83 | |
Exercised | 36.83 | |
At September 30, 2015 | ||
Vested year-to-date | 36.83 | |
Maximum [Member] | Award Exercised [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 26.83 | |
Granted | 26.83 | |
Exercised | 26.83 | |
At September 30, 2015 | ||
Vested year-to-date | $ 26.83 | |
Maximum [Member] | Award Vested [Member] | ||
Note 11 - Stock-Based Compensation (Details) - Stock Option and SARs Activity [Line Items] | ||
Exercise price | 29.16 | |
Granted | 29.16 | |
Exercised | 29.16 | |
At September 30, 2015 | ||
Vested year-to-date | $ 29.16 |
Note 11 - Stock-Based Compens67
Note 11 - Stock-Based Compensation (Details) - Restricted Stock - Restricted Stock [Member] - $ / shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Note 11 - Stock-Based Compensation (Details) - Restricted Stock [Line Items] | ||
Unvested | 114,093 | 124,556 |
Unvested, grant date weighted average cost | $ 24.95 | $ 22.77 |
Shares awarded | 34,990 | 39,730 |
Shares awarded, grant date weighted average cost | $ 34.43 | $ 29.12 |
Restrictions lapsed and shares released to employees/directors | (40,510) | (44,724) |
Restrictions lapsed and shares released to employees/directors, grant date weighted average cost | $ 23.84 | $ 22.69 |
Shares forfeited | (3,766) | (5,469) |
Shares forfeited, grant date weighted average cost | $ 28.11 | $ 23.77 |
Unvested | 104,807 | 114,093 |
Unvested, grant date weighted average cost | $ 28.44 | $ 24.95 |
Note 11 - Stock-Based Compens68
Note 11 - Stock-Based Compensation (Details) - Performance-based Restricted Stock Units - $ / shares | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 11 - Stock-Based Compensation (Details) - Performance-based Restricted Stock Units [Line Items] | |||
Expected shares to be awarded | 362,985 | ||
Performance Shares [Member] | Executive Officer [Member] | |||
Note 11 - Stock-Based Compensation (Details) - Performance-based Restricted Stock Units [Line Items] | |||
Vesting period | 3 years | 3 years | 3 years |
Fair value | $ 31.54 | $ 26.42 | $ 20.38 |
Expected shares to be awarded | 19,774,000 | 29,181,000 | 36,792,000 |
Note 12 - Net Income Per Shar69
Note 12 - Net Income Per Share (Details) - Basic and Diluted Net Income Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic and Diluted Net Income Per Share [Abstract] | ||||
Net income (in Dollars) | $ 9,284 | $ 9,889 | $ 27,541 | $ 26,100 |
Average shares outstanding | 14,754 | 14,574 | 14,704 | 14,542 |
Dilutive securities | 232 | 174 | 236 | 190 |
Average shares outstanding including dilutive securities including dilutive securities | 14,986 | 14,748 | 14,940 | 14,732 |
Net income per share, basic (in Dollars per share) | $ 0.63 | $ 0.68 | $ 1.87 | $ 1.79 |
Net income per share, diluted (in Dollars per share) | $ 0.62 | $ 0.67 | $ 1.84 | $ 1.77 |
Note 13 - Segments (Details) -
Note 13 - Segments (Details) - Financial Information by Business Segment - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||
Net interest income | $ 22,081 | $ 21,363 | $ 65,496 | $ 62,246 | |
Provision for loan losses | (2,100) | 0 | (400) | $ (400) | |
Investment management and trust services | 4,373 | 4,502 | 13,576 | 13,825 | |
All other non-interest income | 5,612 | 5,348 | 16,301 | 15,557 | |
Non-interest expense | 18,430 | 18,709 | 55,076 | 53,954 | |
Income before income taxes | 13,636 | 14,604 | 40,297 | 38,074 | |
Tax expense | 4,352 | 4,715 | 12,756 | 11,974 | |
Net income | 9,284 | 9,889 | 27,541 | 26,100 | |
Commercial Banking [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 22,034 | 21,317 | 65,350 | 62,110 | |
Provision for loan losses | (2,100) | (400) | |||
All other non-interest income | 5,612 | 5,348 | 16,301 | 15,527 | |
Non-interest expense | 15,785 | 15,971 | 46,991 | 46,036 | |
Income before income taxes | 11,861 | 12,794 | 34,660 | 32,001 | |
Tax expense | 3,720 | 4,071 | 10,749 | 9,814 | |
Net income | 8,141 | 8,723 | 23,911 | 22,187 | |
Investment Management and Trust [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 47 | 46 | 146 | 136 | |
Investment management and trust services | 4,373 | 4,502 | 13,576 | 13,825 | |
All other non-interest income | 30 | ||||
Non-interest expense | 2,645 | 2,738 | 8,085 | 7,918 | |
Income before income taxes | 1,775 | 1,810 | 5,637 | 6,073 | |
Tax expense | 632 | 644 | 2,007 | 2,160 | |
Net income | $ 1,143 | $ 1,166 | $ 3,630 | $ 3,913 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits | $ 51 | $ 42 |
Note 14 - Income Taxes (Detai72
Note 14 - Income Taxes (Details) - Difference Between Statutory and Effective Tax Rates | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Difference Between Statutory and Effective Tax Rates [Abstract] | ||
U.S. federal statutory tax rate | 35.00% | 35.00% |
Tax exempt interest income | (1.40%) | (1.50%) |
Tax credits | (2.40%) | (1.50%) |
Cash surrender value of life insurance | (0.60%) | (1.30%) |
State income taxes, net of federal benefit | 0.80% | 0.90% |
Other, net | 0.30% | (0.20%) |
Effective tax rate | 31.70% | 31.40% |
Note 15 - Assets and Liabilit73
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) [Line Items] | ||
Impaired Financing Receivable, Related Allowance | $ 1,603,000 | $ 1,376,000 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 6,735,000 | 7,826,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 4,600,000 | 6,000,000 |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 0 | |
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 0 | |
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount | 0 | |
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net | 0 | |
Impaired Loans [Member] | ||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) [Line Items] | ||
Assets, Fair Value Disclosure | 5,132,000 | |
Appraisal Discount Method [Member] | Impaired Loans [Member] | ||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) [Line Items] | ||
Assets, Fair Value Disclosure | 5,100,000 | 6,400,000 |
Mortgage Servicing Rights [Member] | ||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) [Line Items] | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 15 - Assets and Liabilit74
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Assets Measured at Fair Value On a Recurring Basis - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Investment securities available for sale | ||
Investment securities available for sale | $ 504,366,000 | $ 513,056,000 |
Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 504,366,000 | 513,056,000 |
Interest rate swaps | 487,000 | 425,000 |
Total assets | 504,853,000 | 513,481,000 |
Liabilities | ||
Interest rate swaps | 848,000 | 401,000 |
US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 100,000,000 | 70,000,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 186,810,000 | 204,986,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 186,810,000 | 204,986,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 154,347,000 | 174,270,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 154,347,000 | 174,270,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 62,508,000 | 62,834,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 62,508,000 | 62,834,000 |
Common Stock [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 701,000 | 966,000 |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 701,000 | 966,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 100,701,000 | 70,966,000 |
Total assets | 100,701,000 | 70,966,000 |
Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 100,000,000 | 70,000,000 |
Fair Value, Inputs, Level 1 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 701,000 | 966,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 403,665,000 | 442,090,000 |
Interest rate swaps | 487,000 | 425,000 |
Total assets | 404,152,000 | 442,515,000 |
Liabilities | ||
Interest rate swaps | 848,000 | 401,000 |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 186,810,000 | 204,986,000 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 154,347,000 | 174,270,000 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale | ||
Investment securities available for sale | 62,508,000 | 62,834,000 |
Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale | ||
Total assets | $ 0 | $ 0 |
Note 15 - Assets and Liabilit75
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Assets Measured at Fair Value On a Non-recurring Basis - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Assets Measured at Fair Value On a Non-recurring Basis [Line Items] | |||||
Other real estate owned | $ 12 | $ (7) | $ (153) | $ 342 | |
Fair Value, Measurements, Nonrecurring [Member] | |||||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Assets Measured at Fair Value On a Non-recurring Basis [Line Items] | |||||
Impaired loans | 5,132 | 5,132 | $ 6,449 | ||
Impaired loans | (1,148) | (1,147) | (1,148) | (1,147) | |
Other real estate owned | 3,569 | 3,569 | 5,032 | ||
Other real estate owned | (25) | ||||
Total | 8,701 | 8,701 | 11,481 | ||
Total | (1,173) | $ (1,147) | (1,173) | $ (1,147) | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Assets Measured at Fair Value On a Non-recurring Basis [Line Items] | |||||
Impaired loans | 5,132 | 5,132 | 6,449 | ||
Other real estate owned | 3,569 | 3,569 | 5,032 | ||
Total | $ 8,701 | $ 8,701 | $ 11,481 |
Note 15 - Assets and Liabilit76
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Significant Unobservable Inputs $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Impaired Loans [Member] | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Significant Unobservable Inputs [Line Items] | |
Carrying amount | $ 5,132 |
Other Real Estate Owned [Member] | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Significant Unobservable Inputs [Line Items] | |
Carrying amount | $ 3,569 |
Weighted Average [Member] | Impaired Loans [Member] | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Significant Unobservable Inputs [Line Items] | |
Weighted average of input | 6.40% |
Weighted Average [Member] | Other Real Estate Owned [Member] | |
Note 15 - Assets and Liabilities Measured and Reported at Fair Value (Details) - Significant Unobservable Inputs [Line Items] | |
Weighted average of input | 14.60% |
Note 16 - Disclosure of Finan77
Note 16 - Disclosure of Financial Instruments Not Reported at Fair Value (Details) - Financial Assets and Financial Liabilities That Are Not Measured and Reported at Fair Value - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financial assets | ||
Cash and short-term investments | $ 55,194 | $ 74,241 |
Accrued interest receivable | 6,058 | 5,980 |
Financial liabilities | ||
Accrued interest payable | 126 | 131 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Cash and short-term investments | 55,194 | 74,241 |
Mortgage loans held for sale | 5,539 | 3,747 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans, net | 1,932,811 | 1,843,630 |
Accrued interest receivable | 6,058 | 5,980 |
Financial liabilities | ||
Deposits | 2,141,578 | 2,123,627 |
Short-term borrowings | 129,658 | 116,949 |
FHLB advances | 43,699 | 36,832 |
Accrued interest payable | 126 | 131 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Cash and short-term investments | 55,194 | 74,241 |
Mortgage loans held for sale | 5,678 | 3,876 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Loans, net | 1,935,651 | 1,863,568 |
Accrued interest receivable | 6,058 | 5,980 |
Financial liabilities | ||
Deposits | 2,141,926 | 2,124,904 |
Short-term borrowings | 129,658 | 116,949 |
FHLB advances | 43,961 | 37,714 |
Accrued interest payable | 126 | 131 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short-term investments | 55,194 | 74,241 |
Accrued interest receivable | 6,058 | 5,980 |
Financial liabilities | ||
Accrued interest payable | 126 | 131 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Mortgage loans held for sale | 5,678 | 3,876 |
Federal Home Loan Bank stock and other securities | 6,347 | 6,347 |
Financial liabilities | ||
Deposits | 2,141,926 | 2,124,904 |
Short-term borrowings | 129,658 | 116,949 |
FHLB advances | 43,961 | 37,714 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Loans, net | $ 1,935,651 | $ 1,863,568 |
Note 17 - Regulatory Matters (D
Note 17 - Regulatory Matters (Details) - Risk Based Capital Amounts and Ratios - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Total risk-based capital (1) | |||
Total risk-based capital, actual amount | [1] | $ 298,667 | $ 280,228 |
Total risk-based capital, actual ratio | [1] | 13.68% | 13.86% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 174,659 | $ 161,748 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | ||
Total risk-based capital, minimum for well capitalized ratio | [1] | ||
Common Equity Tier 1 risk-based capital (2) | |||
Common Equity Tier 1 risk-based capital, actual amount | [2] | $ 276,681 | |
Common Equity Tier 1 risk-based capital, actual ratio | [2] | 12.68% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | [2] | $ 98,191 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | [2] | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | [2] | ||
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | [2] | ||
Tier 1 risk-based capital (1) | |||
Tier 1 risk-based capital, actual amount | [1] | $ 276,681 | $ 255,308 |
Tier 1 risk-based capital, actual ratio | [1] | 12.68% | 12.63% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 130,922 | $ 80,858 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 4.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | ||
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | ||
Leverage (3) | |||
Leverage, actual amount | [3] | $ 276,681 | $ 255,308 |
Leverage, actual ratio | [3] | 10.82% | 10.26% |
Leverage, minimum for adequately capitalized amount | [3] | $ 102,285 | $ 74,651 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 3.00% |
Leverage, minimum for well capitalized amount | [3] | ||
Leverage, minimum for well capitalized ratio | [3] | ||
Subsidiaries [Member] | |||
Total risk-based capital (1) | |||
Total risk-based capital, actual amount | [1] | $ 290,863 | $ 274,345 |
Total risk-based capital, actual ratio | [1] | 13.35% | 13.59% |
Total risk-based capital, minimum for adequately capitalized amount | [1] | $ 174,300 | $ 161,498 |
Total risk-based capital, minimum for adequately capitalized ratio | [1] | 8.00% | 8.00% |
Total risk-based capital, minimum for well capitalized amount | [1] | $ 217,875 | $ 201,873 |
Total risk-based capital, minimum for well capitalized ratio | [1] | 10.00% | 10.00% |
Common Equity Tier 1 risk-based capital (2) | |||
Common Equity Tier 1 risk-based capital, actual amount | [2] | $ 268,877 | |
Common Equity Tier 1 risk-based capital, actual ratio | [2] | 12.34% | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized amount | [2] | $ 98,051 | |
Common Equity Tier 1 risk-based capital, minimum for adequately capitalized ratio | [2] | 4.50% | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized amount | [2] | $ 130,734 | |
Common Equity Tier 1 risk-based capital, minimum for well capitalized ratio | [2] | 6.00% | |
Tier 1 risk-based capital (1) | |||
Tier 1 risk-based capital, actual amount | [1] | $ 268,877 | $ 249,425 |
Tier 1 risk-based capital, actual ratio | [1] | 12.34% | 12.36% |
Tier 1 risk-based capital, minimum for adequately capitalized amount | [1] | $ 130,734 | $ 80,720 |
Tier 1 risk-based capital, minimum for adequately capitalized ratio | [1] | 6.00% | 4.00% |
Tier 1 risk-based capital, minimum for well capitalized amount | [1] | $ 130,734 | $ 121,080 |
Tier 1 risk-based capital, minimum for well capitalized ratio | [1] | 6.00% | 6.00% |
Leverage (3) | |||
Leverage, actual amount | [3] | $ 268,877 | $ 249,425 |
Leverage, actual ratio | [3] | 10.52% | 10.04% |
Leverage, minimum for adequately capitalized amount | [3] | $ 102,235 | $ 74,529 |
Leverage, minimum for adequately capitalized ratio | [3] | 4.00% | 3.00% |
Leverage, minimum for well capitalized amount | [3] | $ 127,793 | $ 124,216 |
Leverage, minimum for well capitalized ratio | [3] | 5.00% | 5.00% |
[1] | Ratio is computed in relation to risk-weighted assets. | ||
[2] | Ratio became effective January 2015. | ||
[3] | Ratio is computed in relation to average assets. |